Sanmina

Sanmina helps other companies build and repair complex electronic products. It makes everything from circuit boards to full computer systems for industries like medicine and defense. These services allow big brands to get their high-tech gear to customers without running their own factories.

What Sanmina Makes

• Integrated Manufacturing Solutions: Assembles and tests printed circuit boards and full systems for various industries; accounts for 87% of net sales in Q1 2026.
• Components, Products and Services: Manufactures specialized parts like cables, plastics, and precision metal frames; represents 13% of net sales in Q1 2026.
• Defense and Aerospace: Builds and repairs mission-critical electronics for military and flight applications through its SCI Technology subsidiary.
• Cloud and AI Infrastructure: Produces high-performance storage platforms and servers for large data centers and artificial intelligence needs.

New Moves and Big Buys

• Acquired ZT Systems on October 27, 2025, to expand its role in making artificial intelligence and general-purpose computer hardware.
• Formed a joint venture in 2023 where Reliance Strategic Business Ventures Limited took a majority stake in Sanmina SCI India Private Limited to grow manufacturing in India.
• Executed a new credit agreement in July 2025 providing up to $3.5 billion to support the ZT Systems acquisition and other business needs.

A Global Production Network

Sanmina operates a massive supply chain that reaches across the Americas, Asia-Pacific, and Europe to manage local and global delivery needs. The company handles the entire life cycle of a product, from the initial design and prototyping to final repairs and logistics.

The Recent Numbers

• Net sales reached $3.2 billion in Q1 2026, up 59% from $2 billion in Q1 2025.
• Operating cash flow rose to $178.7 million in Q1 2026, a 179.5% increase year-over-year.
• Free cash flow grew to $91.9 million in Q1 2026, up 96.1% from $46.9 million in the same period last year.
• Operating income hit $117.6 million in Q1 2026, up 32.8% from $88.6 million in Q1 2025.

Bottom Line

Sanmina has transitioned into a highly specialized manufacturer focused on complex technologies like artificial intelligence and defense electronics. Its recent acquisition of ZT Systems marks a significant shift toward serving the booming demand for cloud and AI infrastructure.