Sanmina
SANM · Electronic Manufacturing Services
$155.71
0.8%TTM Technologies
TTMI · Electronic Manufacturing Services
$80.11
8.4%The short version
- Sanmina is the larger business, with $8.1B of revenue in fiscal 2025 against $2.9B for TTM Technologies, about 2.8 times as much.
- TTM Technologies grew revenue faster (19.0%, against 7.4%).
- TTM Technologies kept more of each dollar of sales as operating profit (9.1% operating margin, against 4.4% operating margin).
- Sanmina turned more of its sales into free cash flow (5.8% FCF margin, against −0.0% FCF margin).
- Sanmina earned a higher return on the capital invested in it (14.2%, against 10.7%).
- Investors pay more for each dollar of TTM Technologies’s earnings: a P/E of 36.2x against 27.9x for Sanmina.
| Latest fiscal year | SANM · FY25 | TTMI · FY25 |
|---|---|---|
| Size | ||
| Market cap | $8.6B | $8.6B |
| Revenue | $8.1B | $2.9B |
| Free cash flow | $473M | −$0.7M |
| Net income | $246M | $177M |
| Growth | ||
| Revenue growth | 7.4% | 19.0% |
| 5-year growth | 3.2% | 6.7% |
| Share count change | −3.2% | 1.3% |
| Profitability | ||
| Gross margin | 8.8% | 20.7% |
| Operating margin | 4.4% | 9.1% |
| Net margin | 3.0% | 6.1% |
| FCF margin | 5.8% | −0.0% |
| Return on capital | 14.2% | 10.7% |
| Return on equity | 10.0% | 10.7% |
| Balance sheet | ||
| Net debt | −$643M | $432M |
| Net debt / EBITDA | −1.4x | 1.1x |
| Dividends and buybacks | $0.0M | $17.9M |
| Valuation & quality | ||
| P/E | 27.9x | 36.2x |
| Piotroski F-score | 8 | 7 |
FY16
SANM $6.5B
TTMI $2.5B
FY17
SANM $6.9B
TTMI $2.7B
FY18
SANM $7.1B
TTMI $2.2B
FY19
SANM $8.2B
TTMI $2.1B
FY20
SANM $7.0B
TTMI $2.1B
FY21
SANM $6.7B
TTMI $2.2B
FY22
SANM $7.9B
TTMI $2.5B
FY23
SANM $8.9B
TTMI $2.2B
FY24
SANM $7.6B
TTMI $2.4B
FY25
SANM $8.1B
TTMI $2.9B
SANM
TTMI
FY16
SANM 3.5%
TTMI 6.9%
FY17
SANM 3.3%
TTMI 8.0%
FY18
SANM 1.7%
TTMI 5.3%
FY19
SANM 3.5%
TTMI 5.1%
FY20
SANM 3.2%
TTMI 1.3%
FY21
SANM 3.8%
TTMI 5.6%
FY22
SANM 4.4%
TTMI 8.4%
FY23
SANM 5.1%
TTMI 1.9%
FY24
SANM 4.4%
TTMI 4.8%
FY25
SANM 4.4%
TTMI 9.1%
SANM
TTMI
FY16
SANM $270M
TTMI $213M
FY17
SANM $139M
TTMI $181M
FY18
SANM $37.5M
TTMI $123M
FY19
SANM $248M
TTMI $169M
FY20
SANM $235M
TTMI $184M
FY21
SANM $265M
TTMI $94.7M
FY22
SANM $192M
TTMI $170M
FY23
SANM $43.8M
TTMI $27.0M
FY24
SANM $229M
TTMI $51.2M
FY25
SANM $473M
TTMI −$0.7M
SANM
TTMI
FY16
SANM 13.0%
TTMI 5.5%
FY17
SANM 9.0%
TTMI 12.0%
FY18
SANM 3.9%
TTMI 5.9%
FY19
SANM 10.9%
TTMI 4.2%
FY20
SANM 9.9%
TTMI 1.1%
FY21
SANM 15.1%
TTMI 5.3%
FY22
SANM 17.7%
TTMI 5.6%
FY23
SANM 20.2%
TTMI 1.0%
FY24
SANM 12.6%
TTMI 3.9%
FY25
SANM 14.2%
TTMI 10.7%
SANM
TTMI
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.