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Sanmina cash flow, quarter by quarter

Latest: Q3 FY26 · from the cash-flow statements filed with the SEC

Free cash flow$23.6M in Q3 FY26 · $594M over twelve months

Operating cash flow$124M
Capital spending−$101M
Free cash flow+$23.6M
Cash / net income1.0×

Analysis

In Q3 FY26, Sanmina generated $124M of operating cash flow and spent $101M on capital projects, leaving free cash flow of $23.6M.

Over the twelve months to Jun 27, 2026, operating cash flow was $901M; the largest uses were other investing ($1.1B), capital spending ($307M), net borrowing (+) / repaid (−) ($306M); besides operations, cash came from other financing ($1.9B); the cash balance rose by $1.0B.

Operating cash flow was $124M against net income of $125M — 1.0× profit, roughly in line with earnings. The largest differences: receivables +$243M, inventory −$127M, prepaid and other assets −$73.7M.

Free cash flow

Sanmina: free cash flow by quarterSanmina: free cash flow by quarter$28.9MQ4 FY24$46.9MQ1 FY25$126MQ2 FY25$164MQ3 FY25$137MQ4 FY25$91.9MQ1 FY26$342MQ2 FY26$23.6MQ3 FY26
Operating cash flow less capital spending.
Sanmina: operating cash flow against capital spendingSanmina: operating cash flow against capital spendingOperating cash flowCapital spending$51.9M$23.0MQ4 FY24$63.9M$17.1MQ1 FY25$157M$30.7MQ2 FY25$201M$37.1MQ3 FY25$199M$62.5MQ4 FY25$179M$86.8MQ1 FY26$399M$56.7MQ2 FY26$124M$101MQ3 FY26
Latest (Q3 FY26): Operating cash flow $124M, Capital spending $101M.

Capital allocation, year by year

Sanmina: where the cash came from (up) and went (down), by fiscal yearSanmina: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY21: Operating cash flow $338MFY21: Net borrowing −$18.8MFY21: Shares issued $3.0MFY21: Asset sales $1.1MFY21: Capital spending −$73.3MFY21: Acquisitions −$21.4MFY21: Buybacks −$64.1M$342MFY21FY22: Operating cash flow $331MFY22: Net borrowing $17.2MFY22: Shares issued $2.4MFY22: Asset sales $8.4MFY22: Capital spending −$139MFY22: Buybacks −$331M$359MFY22FY23: Operating cash flow $235MFY23: Net borrowing −$17.5MFY23: Shares issued $3.4MFY23: Asset sales $1.4MFY23: Capital spending −$191M$240MFY23FY24: Operating cash flow $340MFY24: Net borrowing −$21.6MFY24: Shares issued $6.2MFY24: Asset sales $2.0MFY24: Capital spending −$111M$348MFY24FY25: Operating cash flow $621MFY25: Net borrowing −$17.5MFY25: Asset sales $4.9MFY25: Capital spending −$147M$626MFY25
Over these 5 years operating cash flow totalled $1.9B; the largest uses were capital spending ($662M) and buybacks ($395M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.8B
Debt$2.2B
Net debt$327M

Sanmina funds itself: free cash flow was $594M over the last twelve months, and $1.8B of cash and investments stands against $2.2B of debt.

Where the cash came from and went

Sanmina: sources (+) and uses (−) of cash, Q3 FY26Sanmina: sources (+) and uses (−) of cash, Q3 FY26Cash drawn (+) / kept (−)−$261MAcquisitions$243MOperating cash flow$124MCapital spending−$101MTaxes on employees’ shares−$3.5MExchange rates−$866KOther financing−$638KOther investing$83K
Sanmina: sources (+) and uses (−) of cash, TTM to Q3 FY26Sanmina: sources (+) and uses (−) of cash, TTM to Q3 FY26Other financing$1.9BOther investing−$1.1BCash drawn (+) / kept (−)−$1.0BOperating cash flow$901MCapital spending−$307MNet borrowing (+) / repaid (−)−$306MTaxes on employees’ shares−$64.1MExchange rates−$989K

From profit to cash

Sanmina: net income to operating cash flow, Q3 FY26Sanmina: net income to operating cash flow, Q3 FY26Net income$125MDepreciation & amortization$48.2MStock-based pay$24.8MDeferred taxes$8.6MReceivables$243MInventory−$127MPayables−$58.1MContract assets−$49.2MPrepaid and other assets−$73.7MOther liabilities$49.8MOperating cash flow$124M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 FY26$124M−$101M$243M——−$261M$23.6M
Q2 FY26$399M−$56.7M−$1.1M——−$159M$342M
Q1 FY26$179M−$86.8M−$1.4B$1.9B—−$501M$91.9M
Q4 FY25$199M−$62.5M—−$4.4M—−$128M$137M
Q3 FY25$201M−$37.1M—−$4.4M—−$151M$164M
Q2 FY25$157M−$30.7M—−$4.4M—−$44.3M$126M
Q1 FY25$63.9M−$17.1M—−$4.4M—−$16.5M$46.9M
Q4 FY24$51.9M−$23.0M——$5.2M$31.8M$28.9M

Sanmina: income statement and cash flow

Sanmina, Q3 FY26: revenue $3.5B (+70% year over year), operating margin 6.4%. The chart follows the revenue to costs, profit and cash.

Sanmina: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.