Filing Flows › Sanmina (SANM) › Q4 FY25
Sanmina (SANM) Q4 FY25 earnings results (fourth quarter fiscal 2025)
10-K filed Nov 13, 2025
Sanmina (SANM) reported revenue of $2.1B for the fourth quarter fiscal 2025 (Q4 FY25), +4% from a year earlier and +3% from the quarter before. Operating margin was 3.7%, net earnings $48.1M (2.3% of revenue).
Sanmina, Q4 FY25: revenue $2.1B (+4% year over year), operating margin 3.7%, net earnings $48.1M, operating cash flow $199M. The chart follows the revenue to costs, profit and cash.
| Q4 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.1B | +3% | +4% |
| Gross profit | $191M | +6% | +12% |
| Operating profit | $78.5M | -18% | -12% |
| Net earnings | $48.1M | -30% | -22% |
| Operating cash flow | $199M | -0.8% | +284% |
| Free cash flow | $137M | -17% | +373% |
What changed
Revenue was $2.1B in Q4 FY25, up 4% year over year and up 3% from the previous quarter. IMS Third Party Revenue was the largest line at 80% of revenue.
Gross margin was 9.1%, up 0.6 points from Q4 FY24. Operating profit was $0.08B, a 3.7% margin (down 0.7 points year over year). Operating profit fell $0.01B even though revenue rose $0.08B versus Q4 FY24, so costs grew faster than sales. Operating expenses grew 38% against revenue growth of 4%. The fastest-growing cost line was Other operating costs (+927%). Net earnings were $0.05B, down 22% year over year. The effective tax rate was 29.1%.
Operating cash flow was $0.20B (up 284% year over year), 383% of net income including minority interests. Non-cash charges added back $0.03B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.10B. Capital expenditures of $0.06B left free cash flow of $0.14B.
Questions
What was Sanmina's revenue in the fourth quarter fiscal 2025?
Sanmina (SANM) reported revenue of $2.1B for the fourth quarter fiscal 2025 (Q4 FY25), +4% from a year earlier and +3% from the quarter before.
Was Sanmina profitable in the fourth quarter fiscal 2025?
Operating profit was $78.5M (3.7% of revenue) and net earnings $48.1M.
Source: Sanmina 10-K on SEC EDGAR.