Sanmina (SANM) FY2020 results: revenue $7.0 billion, down 15.5% on the year
Sanmina Corp. (SANM) reported revenue of $7.0 billion for fiscal 2020, the year ended 3 October 2020, down 15.5% on the year before. Net income was $133 million, down 5.9%, and diluted earnings per share $1.88. The figures are the company's own, from the 10-K it filed with the SEC on 13 November 2020.
Revenue
$7.0 billion
-15.5% on the year
FY2013FY2020
Operating margin
3.1%
3.5% a year earlier
FY2013FY2020
Net income
$133 million
-5.9% on the year
FY2013FY2020
Diluted EPS
$1.88
-4.6% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
6,960
8,234
7,110
-15.5%
Cost of revenue
6,435
7,642
6,646
-15.8%
Gross profit
517
592
464
-12.6%
Gross margin
7.4%
7.2%
6.5%
Research and development
22.6
27.6
30.8
-18.1%
Selling, general and administrative
241
260
251
-7.3%
Operating income
219
286
119
-23.4%
Operating margin
3.1%
3.5%
1.7%
Interest expense
28.9
30.8
27.7
-6.0%
Pre-tax income
192
246
97.5
-21.7%
Income tax
59.0
104
193
-43.3%
Effective tax rate
30.7%
42.4%
197.9%
Net income
133
142
-95.5
-5.9%
Net margin
1.9%
1.7%
-1.3%
Diluted EPS
$1.88
$1.97
-$1.37
-4.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
301
383
156
-21.5%
Capital expenditure
66.0
135
119
-51.0%
Free cash flow
235
248
37.5
-5.5%
Free cash flow margin
3.4%
3.0%
0.5%
Cash from investing
-64.4
-128
-116
Cash from financing
-210
-220
-28.3
Depreciation and amortisation
114
117
119
-2.3%
Share-based compensation
26.2
30.8
32.8
-14.9%
Buybacks
179
12.6
158
+1,319.3%
Diluted shares, weighted
71m
72m
70m
-1.2%
Shares outstanding at period end
65m
70m
68m
-6.8%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,623
1,647
1,473
-1.4%
Debt
348
385
608
-9.7%
Operating lease liabilities
37.0
n/a
n/a
Other liabilities
1,764
1,873
2,005
-5.8%
Total liabilities and equity
3,773
3,906
4,085
-3.4%
Fixed assets
559
631
643
-11.3%
Goodwill
n/a
28.5
28.5
Intangible assets
n/a
n/a
2.7
Cash and equivalents
481
455
420
+5.7%
Receivables
1,043
1,128
1,177
-7.5%
Inventory
861
901
1,374
-4.4%
Other assets
828
763
440
+8.6%
Total assets
3,773
3,906
4,085
-3.4%
10-K for the year ended 3 October 2020, filed 13 November 2020: the filing.