Sanmina Corp Files 2024 Annual Report

TL;DR

SANM 2024 10-K is IN. Full financials and biz ops details out now.

AI Summary

Sanmina Corporation filed its 10-K for the fiscal year ending September 28, 2024. The company, headquartered in San Jose, CA, reported its financial performance and business operations. Key financial details and operational highlights are presented in this comprehensive annual filing.

Why It Matters

This filing provides investors and stakeholders with a detailed overview of Sanmina's financial health, strategic direction, and potential risks for the past fiscal year.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not contain immediate, specific negative news.

Key Players & Entities

• Sanmina Corp (company) — Filer of the 10-K
• San Jose, CA (location) — Company headquarters
• September 28, 2024 (date) — Fiscal year end

FAQ

Filing Documents

• sanm-20240928.htm (10-K) — 1653KB
• sanm_09282024xex191x10k.htm (EX-19.1) — 140KB
• sanm_09282024xex211x10k.htm (EX-21.1) — 31KB
• sanm_09282024xex231x10k.htm (EX-23.1) — 3KB
• sanm_09282024xex311x10k.htm (EX-31.1) — 10KB
• sanm_09282024xex312x10k.htm (EX-31.2) — 9KB
• sanm_09282024xex321x10k.htm (EX-32.1) — 6KB
• sanm_09282024xex322x10k.htm (EX-32.2) — 6KB
• image_1.jpg (GRAPHIC) — 24KB
• sanm-20240928_g1.jpg (GRAPHIC) — 107KB
• 0000897723-24-000056.txt ( ) — 9492KB
• sanm-20240928.xsd (EX-101.SCH) — 59KB
• sanm-20240928_cal.xml (EX-101.CAL) — 78KB
• sanm-20240928_def.xml (EX-101.DEF) — 347KB
• sanm-20240928_lab.xml (EX-101.LAB) — 844KB
• sanm-20240928_pre.xml (EX-101.PRE) — 554KB
• sanm-20240928_htm.xml (XML) — 1189KB

Risk Factors

Item 1A. Risk Factors 16

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 28

Cybersecurity

Item 1C. Cybersecurity 28

Properties

Item 2. Properties 29

Legal Proceedings

Item 3. Legal Proceedings 29

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 30 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 31

[Reserved]

Item 6. [Reserved] 32

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 33

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 44

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 44

Changes In and Disagreements With Accountants on Accounting and Financial Disclosure

Item 9. Changes In and Disagreements With Accountants on Accounting and Financial Disclosure 75

Controls and Procedures

Item 9A. Controls and Procedures 75

Other Information

Item 9B. Other Information 77

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 77 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 78

Executive Compensation

Item 11. Executive Compensation 78

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 78

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 78

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 78 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 79

Signatures

Signatures 85 3 Table of Contents

Business

Item 1. Business Overview Sanmina Corporation ("we" or "Sanmina" or the "Company") is a leading global provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. We provide these comprehensive offerings primarily to original equipment manufacturers ("OEMs") in the following industries: industrial, medical, defense and aerospace, automotive, communications networks and cloud infrastructure. Our customer-focused organization with 37,000 employees, including 5,000 temporary employees, supports our customers from 21 countries on four continents. We locate our facilities near our customers and their end markets in major centers for the electronics industry or in lower-cost locations. The combination of our advanced technologies, extensive manufacturing expertise and economies of scale enables us to meet the specialized needs of our customers. All references in this report to years refer to our fiscal years unless otherwise noted. Our end-to-end solutions, combined with our global supply chain management expertise, allow us to manage our customers' products throughout their life cycles. These solutions include: product design and engineering, including concept development, detailed design, prototyping, validation, preproduction services and manufacturing design release and product industrialization; manufacturing of components, subassemblies and complete systems; high-level assembly and test; direct order fulfillment and logistics services; after-market product service and support; and global supply chain management. We manage our operations as two businesses: 1) Integrated Manufacturing Solutions ("IMS"). Our IMS business consists of printed circuit board assembly and test, high-level assembly and test and direct-order-fulfillment. This segment generated approximately 80% of our total revenue in 2024. 2) Components, Products and Services ("CPS"). Components include advanced printed circuit boar

View Full Filing

View this 10-K filing on SEC EDGAR