Filing Flows › Sanmina (SANM) › Q3 FY26 › vs Q3 FY25
Sanmina (SANM) Q3 FY26 vs Q3 FY25 (year over year)
Sanmina's revenue rose $1.4B (+70%) from $2.0B in Q3 FY25 to $3.5B in Q3 FY26. The biggest changes: IMS Third Party Revenue +$1.3B (+80%); CPS Third Party Revenue +$114M (+28%). Gross margin 10.5% against 8.9% (+1.6 pts).
Sanmina, Q3 FY26: revenue $3.5B (+70% year over year), operating margin 6.4%, net earnings $117M, operating cash flow $124M. The chart draws each line against Q3 FY25, the increases inside each band.
Margins
| Q3 FY26 | Q3 FY25 | Change | |
|---|---|---|---|
| Gross margin | 10.5% | 8.9% | +1.6 pts |
| Operating margin | 6.4% | 4.7% | +1.7 pts |
| Net margin | 3.4% | 3.4% | +0.0 pts |
| Free cash flow margin | 0.7% | 8.0% | -7.3 pts |
Every line
| Line | Q3 FY26 | Q3 FY25 | Change | % |
|---|---|---|---|---|
| IMS Third Party Revenue | $2.9B | $1.6B | $1.3B | +80% |
| CPS Third Party Revenue | $516M | $402M | $114M | +28% |
| Revenue | $3.5B | $2.0B | $1.4B | +70% |
| Gross profit | $363M | $181M | $182M | +101% |
| Cost of revenue | $3.1B | $1.9B | $1.2B | +67% |
| Operating profit | $221M | $95.9M | $125M | +131% |
| Operating expenses | $142M | $85.2M | $56.9M | +67% |
| Pre-tax earnings | $192M | $91.4M | $100M | +110% |
| Other expense, net | $29.5M | $4.5M | $25.0M | +560% |
| Research & development | $8.3M | $8.1M | $189K | +2% |
| SG&A | $109M | $69.5M | $39.8M | +57% |
| Other operating costs | $24.5M | $7.6M | $16.9M | +224% |
| Net earnings | $117M | $68.6M | $48.5M | +71% |
| Minority interests | $8.2M | $4.3M | $3.9M | +91% |
| Income tax | $66.4M | $18.5M | $47.9M | +259% |
| Depreciation & amortization | $48.2M | $29.8M | $18.4M | +62% |
| Share-based compensation | $24.8M | $16.1M | $8.7M | +54% |
| Working capital & other | $65.7M | −$86.3M | $152M | — |
| Operating cash flow | $124M | $201M | −$76.3M | -38% |
| Free cash flow (OCF − capex) | $23.6M | $164M | −$140M | -86% |
| Capital expenditures | $101M | $37.1M | $63.8M | +172% |
Questions
How much did Sanmina's revenue grow year over year in Q3 FY26?
Sanmina's revenue rose $1.4B (+70%) from $2.0B in Q3 FY25 to $3.5B in Q3 FY26.
What drove Sanmina's revenue change in Q3 FY26?
IMS Third Party Revenue +$1.3B (+80%); CPS Third Party Revenue +$114M (+28%).