Sanmina Corporation (SANM) Balance Sheet
SANM balance sheet, FY2025
September 30, 2025 · U.S. dollars$5.86B assets = $3.32B liabilities + $2.54B equity
Both columns are drawn to the same scale: what SANM owns equals what it owes plus shareholders’ equity. Hover a block for its value.
SANM financial health
Current ratio1.72
Comfortable · current assets cover current liabilities 1.72×
Debt / equity0.17
Low leverage · $0.17 of debt for each $1 of equity
Equity / assets40.2%
Equity-funded · of assets funded by shareholders
Cash / debt245.1%
Cash covers debt · cash & short-term investments vs total debt
Goodwill & intangibles0.0%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal FY2025.
SANM balance sheet trends, FY2016–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $3.63BFY2016 | $5.86BFY2025 | +5.5%/yr | |
| Total liabilities | $2.02BFY2016 | $3.32BFY2025 | +5.7%/yr | |
| Shareholders’ equity | $1.61BFY2016 | $2.35BFY2025 | +4.3%/yr | |
| Cash & short-term investments | $398.3MFY2016 | $966.2MFY2025 | +10.3%/yr | |
| Total debt | $462.5MFY2016 | $394.2MFY2025 | −1.8%/yr | |
| Net cash (debt) | −$64.2MFY2016 | $572.0MFY2025 | +$636.2M | |
| Working capital | $974.4MFY2016 | $2.04BFY2025 | +$1.1B | |
| Book value per share | $20.43FY2016 | $42.66FY2025 | +8.5%/yr | |
| Current ratio | 1.70FY2016 | 1.72FY2025 | +0.03 | |
| Debt / equity | 0.29FY2016 | 0.17FY2025 | −0.12 | |
| Shares outstanding | 78.8MFY2016 | 55.2MFY2025 | −3.9%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
SANM assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
SANM liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
SANM debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
SANM balance sheet
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $966.2M | $625.9M | $667.6M | $529.9M | $650.0M | $480.5M | $454.7M | $419.5M | $406.7M | $398.3M |
| Cash & equivalents | $966.2M | $625.9M | $667.6M | $529.9M | $650.0M | $480.5M | $454.7M | $419.5M | $406.7M | $398.3M |
| Short-term investments | — | — | $6.0M | — | — | — | — | $0 | $0 | $0 |
| Receivables | $1.83B | $1.72B | $1.68B | $1.61B | $1.54B | $1.44B | $1.52B | $1.18B | $1.11B | $973.7M |
| Inventory | $1.99B | $1.44B | $1.48B | $1.68B | $1.04B | $861.3M | $900.6M | $1.37B | $1.05B | $946.2M |
| Other current assets | $84.7M | $79.3M | $58.2M | $62.0M | $54.0M | $37.7M | $41.0M | $43.7M | $47.6M | $57.4M |
| Total current assets | $4.87B | $3.87B | $3.88B | $3.89B | $3.28B | $2.82B | $2.92B | $3.01B | $2.62B | $2.38B |
| Property, plant & equipment (net) | $682.4M | $693.7M | $728.6M | $654.7M | $601.0M | $611.8M | $630.6M | $642.9M | $640.3M | $617.5M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $28.5M | $59.7M | $68.3M | $134.8M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $310.4M | $258.7M | $265.8M | $290.3M | $324.1M | $341.4M | $325.4M | $368.1M | $522.5M | $497.3M |
| Total assets | $5.86B | $4.82B | $4.87B | $4.84B | $4.21B | $3.77B | $3.91B | $4.09B | $3.85B | $3.63B |
| Liabilities | ||||||||||
| Accounts payable | $1.58B | $1.44B | $1.61B | $2.04B | $1.46B | $1.21B | $1.34B | $1.55B | $1.28B | $1.12B |
| Short-term debt | $39.2M | $39.8M | $48.3M | $34.2M | $36.0M | $35.4M | $38.4M | $593.3M | $88.4M | $28.4M |
| Deferred revenue | $878.5M | $133.1M | $198.6M | $198.6M | — | — | $279.8M | $344.1M | — | $514.3M |
| Total current liabilities | $2.82B | $1.94B | $2.03B | $2.47B | $1.76B | $1.52B | $1.68B | $2.40B | $1.62B | $1.40B |
| Long-term debt | $283.0M | $299.8M | $312.3M | $329.2M | $311.6M | $329.2M | $347.0M | $14.3M | $391.4M | $434.1M |
| Other long-term liabilities | $214.0M | $220.8M | $209.7M | $215.3M | $253.5M | $290.9M | $232.9M | $196.0M | $192.2M | $180.1M |
| Total liabilities | $3.32B | $2.46B | $2.56B | $3.02B | $2.33B | $2.14B | $2.26B | $2.61B | $2.20B | $2.02B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $534,000 | $539,000 | $568,000 | $574,000 | $643,000 | $650,000 | $697,000 | $678,000 | $717,000 | $730,000 |
| Retained earnings (deficit) | −$2.46B | −$2.71B | −$2.93B | −$3.24B | −$3.45B | −$3.72B | −$3.86B | −$4.03B | −$3.98B | −$4.12B |
| Treasury stock | — | — | — | −$1.38B | −$1.05B | −$983.1M | −$804.1M | −$791.4M | −$633.7M | −$456.8M |
| Accumulated other comprehensive income | $69.6M | $66.7M | $70.9M | $56.3M | $40.7M | $34.9M | $42.3M | $73.9M | $76.8M | $65.4M |
| Minority interest | $185.3M | $164.9M | $149.7M | $0 | — | — | — | $0 | $0 | $0 |
| Total shareholders' equity | $2.35B | $2.20B | $2.17B | $1.82B | $1.88B | $1.63B | $1.64B | $1.47B | $1.65B | $1.61B |
| Key figures | ||||||||||
| Total debt | $394.2M | $384.1M | $421.3M | $412.0M | $386.1M | $401.7M | $385.3M | $607.7M | $479.9M | $462.5M |
| Net cash (debt) | $572.0M | $241.8M | $246.3M | $117.9M | $263.9M | $78.9M | $69.4M | −$188.1M | −$73.2M | −$64.2M |
| Working capital | $2.04B | $1.93B | $1.85B | $1.42B | $1.52B | $1.30B | $1.24B | $612.5M | $1.00B | $974.4M |
| Tangible book value | $2.35B | $2.20B | $2.17B | $1.82B | $1.88B | $1.63B | $1.61B | $1.41B | $1.58B | $1.48B |
| Book value per share | $42.66 | $38.56 | $36.26 | $28.83 | $27.31 | $23.02 | $22.92 | $21.09 | $21.09 | $20.43 |
| Shares outstanding | 55.2M | 57.0M | 59.8M | 63.1M | 68.8M | 70.8M | 71.7M | 69.8M | 78.1M | 78.8M |
| Current ratio | 1.72 | 1.99 | 1.91 | 1.57 | 1.86 | 1.85 | 1.74 | 1.26 | 1.62 | 1.70 |
| Quick ratio | 0.99 | 1.21 | 1.15 | 0.87 | 1.24 | 1.26 | 1.18 | 0.66 | 0.94 | 0.98 |
| Debt / equity | 0.17 | 0.17 | 0.19 | 0.23 | 0.21 | 0.25 | 0.23 | 0.41 | 0.29 | 0.29 |
| Equity / assets | 40.2% | 45.5% | 44.5% | 37.6% | 44.7% | 43.2% | 42.1% | 36.1% | 42.8% | 44.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $1.84B | $1.58B | $1.46B | $966.2M | $837.7M | $686.7M | $642.4M | $625.9M | $657.7M | $650.9M | $631.6M | $667.6M |
| Cash & equivalents | $1.84B | $1.58B | $1.46B | $966.2M | $837.7M | $686.7M | $642.4M | $625.9M | $657.7M | $650.9M | $631.6M | $667.6M |
| Short-term investments | — | — | — | — | — | — | — | — | — | — | — | $6.0M |
| Receivables | $2.51B | $2.70B | $3.08B | $1.83B | $1.79B | $1.77B | $1.74B | $1.72B | $1.57B | $1.59B | $1.55B | $1.68B |
| Inventory | $3.15B | $3.03B | $3.05B | $1.99B | $1.59B | $1.55B | $1.43B | $1.44B | $1.38B | $1.38B | $1.39B | $1.48B |
| Other current assets | $322.2M | $306.4M | $267.5M | $84.7M | $83.4M | $64.5M | $67.3M | $79.3M | $81.7M | $75.0M | $60.5M | $58.2M |
| Total current assets | $7.83B | $7.61B | $7.85B | $4.87B | $4.30B | $4.07B | $3.88B | $3.87B | $3.69B | $3.70B | $3.63B | $3.88B |
| Property, plant & equipment (net) | $1.30B | $993.3M | $1.15B | $682.4M | $699.4M | $677.5M | $678.1M | $693.7M | $712.7M | $726.6M | $726.2M | $728.6M |
| Goodwill & intangible assets | $121.9M | $358.8M | $306.7M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $489.1M | $705.5M | $496.1M | $310.4M | $220.4M | $222.0M | $257.4M | $258.7M | $257.5M | $262.2M | $260.6M | $265.8M |
| Total assets | $9.74B | $9.67B | $9.80B | $5.86B | $5.22B | $4.97B | $4.81B | $4.82B | $4.66B | $4.69B | $4.62B | $4.87B |
| Liabilities | ||||||||||||
| Accounts payable | $2.45B | $2.51B | $2.35B | $1.58B | $1.43B | $1.35B | $1.39B | $1.44B | $1.43B | $1.44B | $1.42B | $1.61B |
| Short-term debt | $262.8M | $172.0M | $212.9M | $39.2M | $39.1M | $39.1M | $40.0M | $39.8M | $39.9M | $39.8M | $40.2M | $48.3M |
| Deferred revenue | $1.15B | $1.23B | $1.25B | $878.5M | $525.1M | $443.7M | $239.6M | — | — | — | — | — |
| Total current liabilities | $4.40B | $4.44B | $4.62B | $2.82B | $2.25B | $2.07B | $1.88B | $1.94B | $1.82B | $1.85B | $1.82B | $2.03B |
| Long-term debt | $1.96B | $2.00B | $2.00B | $283.0M | $287.2M | $291.4M | $295.6M | $299.8M | $299.7M | $303.9M | $308.1M | $312.3M |
| Other long-term liabilities | $625.9M | $615.5M | $525.7M | $214.0M | $211.9M | $206.6M | $212.3M | $220.8M | $201.0M | $207.5M | $214.1M | $209.7M |
| Total liabilities | $6.98B | $7.06B | $7.14B | $3.32B | $2.75B | $2.57B | $2.39B | $2.46B | $2.32B | $2.36B | $2.34B | $2.56B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $6.78B | $6.75B | $6.73B | $534,000 | $6.62B | $6.61B | $6.59B | $539,000 | $6.56B | $6.54B | $6.53B | $568,000 |
| Retained earnings (deficit) | −$2.20B | −$2.32B | −$2.41B | −$2.46B | −$2.51B | −$2.58B | −$2.64B | −$2.71B | −$2.77B | −$2.82B | −$2.87B | −$2.93B |
| Accumulated other comprehensive income | $86.2M | $85.0M | $74.5M | $69.6M | $71.1M | $66.4M | $64.7M | $66.7M | $69.0M | $69.5M | $67.5M | $70.9M |
| Minority interest | $200.1M | $191.9M | $187.7M | $185.3M | $181.3M | — | — | — | — | — | — | — |
| Total shareholders' equity | $2.56B | $2.42B | $2.47B | $2.35B | $2.29B | $2.22B | $2.25B | $2.20B | $2.18B | $2.17B | $2.12B | $2.17B |
| Key figures | ||||||||||||
| Total debt | $2.43B | $2.17B | $2.50B | $394.2M | $364.0M | $366.1M | $374.6M | $384.1M | $387.5M | $395.0M | $405.1M | $421.3M |
| Net cash (debt) | −$588.0M | −$596.2M | −$1.05B | $572.0M | $473.7M | $320.6M | $267.8M | $241.8M | $270.2M | $255.9M | $226.5M | $246.3M |
| Working capital | $3.43B | $3.17B | $3.24B | $2.04B | $2.05B | $1.99B | $1.99B | $1.93B | $1.87B | $1.85B | $1.81B | $1.85B |
| Tangible book value | $2.44B | $2.06B | $2.17B | $2.35B | $2.29B | $2.22B | $2.25B | $2.20B | $2.18B | $2.17B | $2.12B | $2.17B |
| Book value per share | $46.43 | $43.75 | $44.55 | $43.20 | $42.09 | $39.96 | $40.29 | $39.06 | $38.48 | $38.29 | $36.39 | $36.65 |
| Shares outstanding | 55.1M | 55.3M | 55.5M | 54.5M | 54.5M | 55.5M | 55.9M | 56.2M | 56.7M | 56.7M | 58.2M | 59.2M |
| Current ratio | 1.78 | 1.71 | 1.70 | 1.72 | 1.91 | 1.96 | 2.06 | 1.99 | 2.03 | 2.00 | 1.99 | 1.91 |
| Quick ratio | 0.99 | 0.96 | 0.98 | 0.99 | 1.17 | 1.18 | 1.27 | 1.21 | 1.22 | 1.21 | 1.20 | 1.15 |
| Debt / equity | 0.95 | 0.90 | 1.01 | 0.17 | 0.16 | 0.17 | 0.17 | 0.17 | 0.18 | 0.18 | 0.19 | 0.19 |
| Equity / assets | 26.3% | 25.0% | 25.2% | 40.2% | 43.9% | 44.7% | 46.8% | 45.5% | 46.8% | 46.3% | 45.9% | 44.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed November 13, 2025); data from EODHD.
SANM financial position
At the end of fiscal 2025 (September 30, 2025), Sanmina had total assets of $5.9 billion (up 21.5% from a year earlier), total liabilities of $3.3 billion and shareholders' equity of $2.4 billion. It held $966.2 million in cash and short-term investments against $394.2 million of debt, a net cash position of $572.0 million. Its current ratio was 1.72. In the latest quarter (ended June 30, 2026) total assets were $9.7 billion and equity $2.6 billion.
Related: SANM income statement, SANM cash flow statement, SANM key metrics. See the SANM stock overview for the latest quote and news.
SANM balance sheet FAQ
What are Sanmina's total assets?
Sanmina reported total assets of $5.9 billion at the end of fiscal 2025 (September 30, 2025), compared with $4.8 billion a year earlier.
How much debt does Sanmina have?
Sanmina had $394.2 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.17.
How much cash does Sanmina have?
Sanmina held $966.2 million in cash and short-term investments at the end of fiscal 2025; with $394.2 million of debt that is net cash of $572.0 million.
What is Sanmina's book value?
Sanmina's shareholders' equity (book value) was $2.4 billion at the end of fiscal 2025, or $42.66 per share.
What is Sanmina's current ratio?
Sanmina had current assets of $4.9 billion and current liabilities of $2.8 billion, a current ratio of 1.72 (it can cover its short-term obligations).