Sanmina Corporation

DB:SAYN Stock Report

Market Cap: €4.1b

Sanmina Valuation

Is SAYN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of SAYN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SAYN (€73.38) is trading below our estimate of fair value (€204.14)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SAYN?

Key metric: As SAYN is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for SAYN. This is calculated by dividing SAYN's market cap by their current earnings.
What is SAYN's PE Ratio?
PE Ratio19.3x
EarningsUS$222.54m
Market CapUS$4.30b

Price to Earnings Ratio vs Peers

How does SAYN's PE Ratio compare to its peers?

The above table shows the PE ratio for SAYN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average56.2x
DAM DATA MODUL Produktion und Vertrieb von elektronischen Systemen
12.6x15.3%€96.6m
JEN Jenoptik
14x12.3%€1.2b
PLXS Plexus
39.3x22.3%US$4.5b
KAYNES Kaynes Technology India
158.8x32.5%₹377.0b
SAYN Sanmina
19.3x18.5%€4.3b

Price-To-Earnings vs Peers: SAYN is good value based on its Price-To-Earnings Ratio (19.3x) compared to the peer average (56.2x).

Price to Earnings Ratio vs Industry

How does SAYN's PE Ratio compare vs other companies in the European Electronic Industry?

5 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SAYN 19.3xIndustry Avg. 17.3xNo. of Companies15PE01224364860+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SAYN is expensive based on its Price-To-Earnings Ratio (19.3x) compared to the European Electronic industry average (17.3x).

Price to Earnings Ratio vs Fair Ratio

What is SAYN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SAYN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio19.3x
Fair PE Ratio15.9x

Price-To-Earnings vs Fair Ratio: SAYN is expensive based on its Price-To-Earnings Ratio (19.3x) compared to the estimated Fair Price-To-Earnings Ratio (15.9x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst SAYN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€73.38
€64.38
-12.3%
15.2%€76.89€53.09n/a3
Nov ’25€65.46
€57.97
-11.4%
15.7%€69.38€47.18n/a3
Oct ’25€59.72
€57.97
-2.9%
15.7%€69.38€47.18n/a3
Sep ’25€62.50
€57.97
-7.3%
15.7%€69.38€47.18n/a3
Aug ’25€66.78
€57.97
-13.2%
15.7%€69.38€47.18n/a3
Jul ’25€60.30
€54.38
-9.8%
8.9%€57.80€47.54n/a3
Jun ’25€62.34
€54.38
-12.8%
8.9%€57.80€47.54n/a3
May ’25€56.36
€55.36
-1.8%
7.9%€58.08€47.78n/a4
Apr ’25€57.50
€54.28
-5.6%
7.9%€56.95€46.84n/a4
Mar ’25€59.50
€53.80
-9.6%
8.9%€57.18€47.04n/a3
Feb ’25€55.00
€53.80
-2.2%
8.9%€57.18€47.04n/a3
Jan ’25€47.20
€51.67
+9.5%
14.2%€56.87€41.28n/a3
Nov ’24€48.40
€72.87
+50.5%
1.3%€73.81€71.92€65.462
Oct ’24€51.00
€70.11
+37.5%
1.3%€71.02€69.20€59.722
Sep ’24€52.00
€70.11
+34.8%
1.3%€71.02€69.20€62.502
Aug ’24€52.50
€70.11
+33.5%
1.3%€71.02€69.20€66.782
Jul ’24€55.00
€70.92
+28.9%
1.3%€71.84€70.00€60.302
Jun ’24€48.60
€70.92
+45.9%
1.3%€71.84€70.00€62.342
May ’24€47.20
€71.70
+51.9%
1.3%€72.63€70.77€56.362
Apr ’24€55.10
€71.70
+30.1%
1.3%€72.63€70.77€57.502
Mar ’24€57.06
€67.15
+17.7%
7.8%€71.75€59.79€59.503
Feb ’24€57.04
€67.15
+17.7%
7.8%€71.75€59.79€55.003
Jan ’24€53.98
€65.06
+20.5%
16.5%€75.47€48.38€47.204
Dec ’23€64.04
€65.06
+1.6%
16.5%€75.47€48.38€46.204
Nov ’23€56.22
€57.19
+1.7%
17.2%€70.85€45.55€48.404

Analyst Forecast: Target price is lower than the current share price.

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