Sanmina Corporation (SANM)

Debt-to-assets ratio

		Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019
Long-term debt	US$ in thousands	312,327	329,237	311,572	329,249	346,971
Total assets	US$ in thousands	4,873,970	4,835,530	4,206,720	3,772,660	3,905,510
Debt-to-assets ratio		0.06	0.07	0.07	0.09	0.09

September 30, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $312,327K ÷ $4,873,970K
= 0.06

The debt-to-assets ratio of Sanmina Corp has shown a consistent trend over the past five years. The ratio has remained relatively stable, indicating that the company has maintained a conservative approach to financing its operations. With a ratio of 0.07 in both September 30, 2023, and October 1, 2022, the company has demonstrated a strong ability to cover its debt obligations with its existing assets. This suggests a prudent management of debt levels in relation to asset ownership, potentially indicating a lower financial risk. Overall, the stable and low debt-to-assets ratio reflects a sound financial position and management of leverage by Sanmina Corp.