SANMINA CORP
For the period ended Sep 27, 2025. Filed Nov 13, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Nov 13, 2025
SANM$155.43+3.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 15. Exhibits and Financial Statement Schedules
Part IV
| (a) | (1) | Financial Statements. The following financial statements are filed under Item 8 hereof as part of this report: |
| Page | |
|---|---|
| Report of Independent Registered Public Accounting Firm (PCAOB ID 238) | 45 |
| Financial Statements: | |
| Consolidated Balance Sheets, As of September 27, 2025 and September 28, 2024 | 47 |
| Consolidated Statements of Income, Years Ended September 27, 2025, September 28, 2024 and September 30, 2023 | 48 |
| Consolidated Statements of Comprehensive Income, Years Ended September 27, 2025, September 28, 2024 and September 30, 2023 | 49 |
| Consolidated Statements of Stockholders’ Equity, Years Ended September 27, 2025, September 28, 2024 and September 30, 2023 | 50 |
| Consolidated Statements of Cash Flows, Years Ended September 27, 2025, September 28, 2024 and September 30, 2023 | 51 |
| Notes to Consolidated Financial Statements | 52 |
| Note 1. Organization of Sanmina | 52 |
| Note 2. Summary of Significant Accounting Policies | 52 |
| Note 3. Balance Sheet Details | 58 |
| Note 4. Revenue | 59 |
| Note 5. Financial Instruments and Concentration of Credit Risk | 60 |
| Note 6. Debt | 63 |
| Note 7. Leases | 66 |
| Note 8. Accounts Receivable Sale Programs | 67 |
| Note 9. Contingencies | 67 |
| Note 10. Income Taxes | 70 |
| Note 11. Earnings Per Share | 73 |
| Note 12. Stockholders’ Equity | 73 |
| Note 13. Business Segment and Geographic Information | 74 |
| Note 14. Stock-based Compensation | 76 |
| Note 15. Employee Benefit Plans | 77 |
| Note 16. Business Combination | 78 |
| (2) | Financial Statement Schedules. The following financial statement schedule of Sanmina Corporation is filed as part of this report on Form 10-K immediately after the signature pages hereto and should be read in conjunction with our Financial Statements included in this Item 15: |
| Schedule II-Valuation and Qualifying Accounts, Years Ended September 27, 2025, September 28, 2024 and September 30, 2023 | |
|---|---|
| All other schedules are omitted because they are not applicable or the required information is shown in the Financial Statements or the notes thereto. | |
| (3) | Exhibits. Refer to Item 15(b) immediately below. |
(b) Exhibits
| Incorporated by Reference Herein | ||||
|---|---|---|---|---|
| ExhibitNumber | Description | Form | Exhibit | Filing Date |
| 2.1# | Equity Purchase Agreement dated as of May 18, 2025, by and among Sanmina Corporation, Advanced Micro Devices, Inc., AMD Design, LLC, and ZT Group Int’l, Inc. | 8-K | 2.1 | May 19, 2025 |
| 3.1 | Restated Certificate of Incorporation of the Registrant, dated January 31, 1996. | 10-K | 3.2 | December 24, 1996 |
| 3.2 | Certificate of Amendment of the Restated Certificate of Incorporation of the Registrant, dated March 9, 2001. | 10-Q | 3.1(a) | May 11, 2001 |
| 3.3 | Certificate of Designation of Rights, Preferences and Privileges of Series A Participating Preferred Stock of the Registrant, dated May 31, 2001. | S-4 | 3.1.2 | August 10, 2001 |
| 3.4 | Certificate of Amendment of the Restated Certificate of Incorporation of the Registrant, dated December 7, 2001. | 10-K | 3.1.3 | December 21, 2001 |
| 3.5 | Certificate of Amendment of the Restated Certificate of Incorporation of the Registrant, as amended, dated July 27, 2009. | 8-K | 3.6 | August 19, 2009 |
| 3.6 | Certificate of Ownership and Merger as filed with the Secretary of State of Delaware effective November 15, 2012. | 10-K | 3.7 | November 21, 2012 |
| 3.7 | Certificate of Merger as filed with the Secretary of State of Delaware on October 3, 2016. | 10-K | 3.9 | November 16, 2023 |
| 3.8 | Amended and Restated Bylaws of the Registrant, as amended June 19, 2025. | 8-K | 3.1 | June 23, 2025 |
| 4.1 | Description of the Registrant’s Securities | 10-K | 4.5 | November 8, 2019 |
| 10.1† | Amended and Restated Sanmina-SCI Corporation Deferred Compensation Plan dated June 9, 2008. | 10-Q | 10.74 | August 4, 2008 |
| 10.2† | Second Amendment to the Sanmina Corporation Deferred Compensation Plan adopted as of May 12, 2015. | 10-Q | 10.30 | July 24, 2015 |
| 10.3† | First Amendment to the Sanmina-SCI Corporation Deferred Compensation Plan. | 10-K | 10.28 | November 19, 2015 |
| 10.4† | Amendment No. 3 to Sanmina-SCI Corporation Deferred Compensation Plan. | 10-K | 10.29 | November 19, 2015 |
| 10.5† | Fourth Amendment to the Sanmina Corporation Deferred Compensation Plan. | 10-K | 10.32 | November 13, 2017 |
| 10.6† | Fifth Amendment to Sanmina Corporation Deferred Compensation Plan. | 10-K | 10.22 | November 15, 2018 |
| 10.7† | Sixth Amendment to Sanmina Corporation Deferred Compensation Plan. | 10-K | 10.23 | November 15, 2018 |
| 10.8† | Revised form of Officer and Director Indemnification Agreement. | 10-Q | 10.42 | August 4, 2008 |
| 10.9† | Form of Change of Control Severance Benefit Agreement. | 10-Q | 10.48 | February 5, 2010 |
| 10.10† | Amendment to employment offer letter between Sanmina Corporation and Alan Reid dated March 12, 2010. | 10-Q | 10.48 | January 31, 2014 |
| 10.11† | 2019 Equity Incentive Plan, as amended | 10-Q | 10.29 | April 28, 2025 |
| 10.12† | Form of Restricted Stock Unit Award Agreement for use under 2019 Equity Incentive Plan | 10-Q | 10.30 | May 2, 2019 |
| 10.13† | Form of Stock Option Award Agreement for use under 2019 Equity Incentive Plan | 10-Q | 10.31 | May 2, 2019 |
| 10.14± | Joint Venture and Shareholders’ Agreement dated as of March 3, 2022 by and among Reliance Strategic Business Ventures Limited, Sanmina Corporation, Sanmina-SCI Systems Singapore Pte Ltd and Sanmina-SCI India Private Limited. | 10-Q | 10.39.1 | May 4, 2022 |
| 10.15± | Form of Management Services Agreement by and among Reliance Strategic Business Ventures Limited, Sanmina Corporation, Sanmina-SCI Systems Singapore Pte Ltd and Sanmina-SCI India Private Limited. | 10-Q | 10.39.2 | May 4, 2022 |
| 10.16± | Form of Business Transfer Agreement by and between Sanmina-SCI Technology India Private Limited and a wholly-owned subsidiary of Sanmina Corporation to be incorporated under the laws of India. | 10-Q | 10.39.3 | May 4, 2022 |
| 10.17± | Form of Services Agreement by and between Sanmina Corporation and Sanmina-SCI India Private Limited. | 10-Q | 10.39.4 | May 4, 2022 |
| 10.18± | Form of Services Agreement by and between Sanmina-SCI India Private Limited and Sanmina Corporation. | 10-Q | 10.39.5 | May 4, 2022 |
| 10.19 | Form of IP and Know-How License Agreement by and between Sanmina Corporation and Sanmina-SCI India Private Limited. | 10-Q | 10.39.6 | May 4, 2022 |
| 10.20 | Form of Trademark License Agreement among Sanmina Corporation and Sanmina-SCI India Private Limited. | 10-Q | 10.39.7 | May 4, 2022 |
| 10.21± | Receivables Purchase Agreement dated as of August 31, 2023 by and among Sanmina Corporation, as Seller, Servicer and Guarantor, the other Sellers and Servicers described therein, the buyers described therein and Truist Bank as Administrative Agent. | 10-Q | 10.43 | November 16, 2023 |
| 10.22± | Amendment No. 1, dated May 17, 2024, to the Receivables Purchase Agreement dated August 31, 2023, by and among Sanmina Corporation, as Seller, Servicer and Guarantor, the other Sellers and Servicers described therein, the buyers described therein and Truist Bank as Administrative Agent. | 10-K | 10.45 | July 31, 2024 |
| 10.23#* | Credit Agreement dated as of July 29, 2025 among Sanmina Corporation, certain subsidiaries of Sanmina Corporation designated therein, Bank of America, N.A. and the other lenders party thereto. | |||
| 14.1 | Code of Business Conduct and Ethics of the Registrant. | 10-K | 14.1 | November 12, 2021 |
| 19.1 | Insider Trading Policy. | 10-K | 19.1 | November 27, 2024 |
| 21.1* | Subsidiaries of the Registrant. | |||
| 23.1* | Consent of PricewaterhouseCoopers LLP, independent registered public accounting firm. | |||
| 24.1* | Power of Attorney (included in signature page). | |||
| 31.1* | Certification of the Principal Executive Officer pursuant to Securities Exchange Act Rule 13a-14(a) or 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | |||
| 31.2* | Certification of the Principal Financial Officer pursuant to Securities Exchange Act Rule 13a-14(a) or 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | |||
| 32.1** | Certification of the Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (furnished herewith). | |||
| 32.2** | Certification of the Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (furnished herewith). | |||
| 97.1 | Sanmina Corporation Policy for Reimbursement of Incentive Payments. | 10-K | 97.1 | November 16, 2023 |
| 101.INS | XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document | |||
| 101.SCH | XBRL Taxonomy Extension Schema Document | |||
| 101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document | |||
| 101.DEF | XBRL Taxonomy Extension Definition Linkbase Document | |||
| 101.LAB | XBRL Taxonomy Extension Label Linkbase Document | |||
| 101.PRE | XBRL Taxonomy Extension Presentation Linkbase Document | |||
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) | |||
Portions of this exhibit have been omitted in accordance with Item 601 of Regulation S-K under the Securities Act of 1933. The Registrant hereby undertakes to furnish supplemental copies of any of the omitted annexes, schedules and exhibits upon request by the SEC.
† Compensatory plan in which an executive officer or director participates.
± Portions of this exhibit have been omitted in accordance with Item 601(b)(10)(iv) of Regulation S-K under the Securities Act of 1933.
- Filed herewith.
** This exhibit shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filings under the Securities Act of 1933 or the Securities Exchange Act of 1934, whether made before or after the date hereof and irrespective of any general incorporation language in any filings.
(c)Financial Statement Schedules. See Item 15(a)(2) above.
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