Sanmina Corporation (SANM)

Debt-to-assets ratio

		Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	299,823	299,665	303,884	308,105	312,327	316,552	320,779	325,007	329,237	298,345	302,751	307,160	311,572	315,987	320,405	324,825	329,249	333,675	338,105	342,537
Total assets	US$ in thousands	4,822,840	4,663,530	4,686,260	4,616,980	4,873,970	4,957,890	5,029,460	1,579,280	4,835,530	4,743,670	4,649,910	4,502,010	4,206,720	4,002,590	3,765,740	3,779,730	3,772,660	4,474,700	4,360,180	3,829,740
Debt-to-assets ratio		0.06	0.06	0.06	0.07	0.06	0.06	0.06	0.21	0.07	0.06	0.07	0.07	0.07	0.08	0.09	0.09	0.09	0.07	0.08	0.09

September 30, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $299,823K ÷ $4,822,840K
= 0.06

The debt-to-assets ratio of Sanmina Corporation has been relatively stable over the past few quarters, ranging from 0.06 to 0.09. A lower ratio indicates that the company relies less on debt to finance its operations and has a stronger financial position.

The significant increase in the ratio in the December 31, 2022 quarter to 0.21 may indicate a temporary spike in debt relative to assets, possibly due to specific financing or investment activities during that period.

Overall, the generally low and consistent debt-to-assets ratio suggests that Sanmina Corporation maintains a conservative approach to leverage, potentially reducing financial risk and enhancing its ability to manage debt obligations.