DB:SAYN

Stock Analysis Report

Executive Summary

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide.


Snowflake Analysis

Very undervalued with flawless balance sheet.


Similar Companies

Share Price & News

How has Sanmina's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: SAYN's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

18.6%

SAYN

4.3%

DE Electronic

7.2%

DE Market


1 Year Return

-7.8%

SAYN

-26.3%

DE Electronic

-17.5%

DE Market

Return vs Industry: SAYN exceeded the German Electronic industry which returned -23.9% over the past year.

Return vs Market: SAYN exceeded the German Market which returned -14.1% over the past year.


Shareholder returns

SAYNIndustryMarket
7 Day18.6%4.3%7.2%
30 Day-4.8%-25.8%-22.3%
90 Day-22.4%-23.6%-26.1%
1 Year-7.8%-7.8%-24.8%-26.3%-14.9%-17.5%
3 Year-37.8%-37.8%-2.3%-5.5%-18.7%-25.7%
5 Year5.7%5.7%55.1%43.8%-17.8%-29.1%

Price Volatility Vs. Market

How volatile is Sanmina's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Sanmina undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: SAYN (€23.6) is trading below our estimate of fair value (€261.65)

Significantly Below Fair Value: SAYN is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: SAYN is good value based on its PE Ratio (13.7x) compared to the Electronic industry average (16.9x).

PE vs Market: SAYN is good value based on its PE Ratio (13.7x) compared to the German market (16.6x).


Price to Earnings Growth Ratio

PEG Ratio: SAYN is good value based on its PEG Ratio (0.8x)


Price to Book Ratio

PB vs Industry: SAYN is good value based on its PB Ratio (1.2x) compared to the DE Electronic industry average (1.2x).


Next Steps

Future Growth

How is Sanmina forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

18.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SAYN's forecast earnings growth (18.1% per year) is above the savings rate (-0.4%).

Earnings vs Market: SAYN's earnings (18.1% per year) are forecast to grow faster than the German market (14.7% per year).

High Growth Earnings: SAYN's earnings are forecast to grow, but not significantly.

Revenue vs Market: SAYN's revenue (1.5% per year) is forecast to grow slower than the German market (4% per year).

High Growth Revenue: SAYN's revenue (1.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if SAYN's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Sanmina performed over the past 5 years?

-29.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SAYN has high quality earnings.

Growing Profit Margin: SAYN's current net profit margins (1.8%) are higher than last year (1.3%).


Past Earnings Growth Analysis

Earnings Trend: SAYN's earnings have declined by -29.5% per year over the past 5 years.

Accelerating Growth: SAYN's earnings growth over the past year (49%) exceeds its 5-year average (-29.5% per year).

Earnings vs Industry: SAYN earnings growth over the past year (49%) exceeded the Electronic industry -7.4%.


Return on Equity

High ROE: SAYN's Return on Equity (8.4%) is considered low.


Next Steps

Financial Health

How is Sanmina's financial position?


Financial Position Analysis

Short Term Liabilities: SAYN's short term assets ($2.8B) exceed its short term liabilities ($1.5B).

Long Term Liabilities: SAYN's short term assets ($2.8B) exceed its long term liabilities ($620.2M).


Debt to Equity History and Analysis

Debt Level: SAYN's debt to equity ratio (23.7%) is considered satisfactory.

Reducing Debt: SAYN's debt to equity ratio has reduced from 38.2% to 23.7% over the past 5 years.

Debt Coverage: SAYN's debt is well covered by operating cash flow (121.2%).

Interest Coverage: SAYN's interest payments on its debt are well covered by EBIT (10.6x coverage).


Balance Sheet

Inventory Level: SAYN has a high level of physical assets or inventory.

Debt Coverage by Assets: SAYN's debt is covered by short term assets (assets are 7x debt).


Next Steps

Dividend

What is Sanmina's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate SAYN's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate SAYN's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if SAYN's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if SAYN's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of SAYN's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.3yrs

Average management tenure


CEO

Hartmut Liebel (56yo)

0.50

Tenure

US$2,691,087

Compensation

Mr. Hartmut Liebel serves as Chief Executive Officer at Sanmina Corporation since September 30, 2019 and also has been its Director since December 09, 2019. Mr. Liebel served as the President and Chief Ope ...


CEO Compensation Analysis

Compensation vs Market: Hartmut's total compensation ($USD2.69M) is above average for companies of similar size in the German market ($USD1.85M).

Compensation vs Earnings: Insufficient data to compare Hartmut's compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
Jure Sola
Co-Founder & Executive Chairman17.25yrsUS$5.68m1.62% $28.8m
Hartmut Liebel
CEO & Director0.50yrUS$2.69mno data
Dennis Young
Executive Vice President of Worldwide Salesno dataUS$1.26m0.046% $809.5k
Alan Reid
Executive Vice President of Global Human Resources7.42yrsUS$1.21m0.015% $257.8k
Michael Clarke
0.50yrUS$10.51m0.086% $1.5m
David Anderson
no dataUS$2.41mno data
Kurt Adzema
Executive VP & CFO0.42yrno datano data
Brent Billinger
Principal Accounting Officer2.25yrsno data0.029% $508.4k
Paige Melching
Senior VP of Marketing & Investor Communications23.17yrsno datano data
Christopher Sadeghian
VP of Legalno datano datano data

2.3yrs

Average Tenure

57yo

Average Age

Experienced Management: SAYN's management team is considered experienced (2.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Jure Sola
Co-Founder & Executive Chairman17.25yrsUS$5.68m1.62% $28.8m
Hartmut Liebel
CEO & Director0.50yrUS$2.69mno data
Krish Prabhu
Independent Director0.50yrUS$135.00k0.00095% $16.9k
John Goldsberry
Independent Director12.17yrsUS$300.00k0.026% $462.8k
Mario Rosati
Independent Director23.17yrsUS$260.00k0.082% $1.5m
Jacqueline Ward
Lead Independent Director1yrUS$380.22k0.20% $3.5m
Eugene Delaney
Independent Director6.25yrsUS$305.00k0.11% $1.9m
Joseph Licata
Independent Director12.58yrsUS$270.00k0.087% $1.5m
Rita Lane
Independent Director3.5yrsUS$295.00k0.024% $431.5k

6.3yrs

Average Tenure

64yo

Average Age

Experienced Board: SAYN's board of directors are considered experienced (6.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: SAYN insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Sanmina Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Sanmina Corporation
  • Ticker: SAYN
  • Exchange: DB
  • Founded: 1980
  • Industry: Electronic Manufacturing Services
  • Sector: Tech
  • Market Cap: US$1.967b
  • Listing Market Cap: US$1.774b
  • Shares outstanding: 70.64m
  • Website: https://www.sanmina.com

Number of Employees


Location

  • Sanmina Corporation
  • 2700 North First Street
  • San Jose
  • California
  • 95134
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SANMNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDApr 1993
SAYNDB (Deutsche Boerse AG)YesCommon StockDEEURApr 1993
SAYNBRSE (Berne Stock Exchange)YesCommon StockCHCHFApr 1993

Biography

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two segments, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, and manufacturing design release; manufacturing solutions of components, subassemblies, and complete systems; final system assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services. It also provides interconnect systems, such as printed circuit board fabrication, backplane, cable assemblies, and plastic injection moldings; mechanical systems comprising enclosures and precision machining; memory, radio frequency, optical, and microelectronic solutions; defense and aerospace products; storage solutions; and cloud-based manufacturing execution software. The company offers its products and services to companies that serve the communications networks, computing and data storage, industrial, defense and aerospace, medical, automotive, energy, and other industries. The company was formerly known as Sanmina-SCI Corporation and changed its name to Sanmina Corporation in November 2012. Sanmina Corporation was founded in 1980 and is headquartered in San Jose, California. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/27 20:54
End of Day Share Price2020/03/27 00:00
Earnings2019/12/28
Annual Earnings2019/09/28


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.