Sanmina Corporation (SANM)

Debt-to-capital ratio

		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	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	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	346,971	351,472	0
Total stockholders’ equity	US$ in thousands	67,539	2,168,950	65,882	2,217,990	63,275	56,325	1,768,560	1,805,040	1,852,760	1,878,630	1,839,120	1,735,110	1,677,950	1,623,370	1,653,480	1,617,750	1,679,380	1,642,570	1,627,470	1,580,720
Debt-to-capital ratio		0.82	0.13	0.83	0.13	0.84	0.85	0.14	0.14	0.14	0.14	0.15	0.16	0.16	0.17	0.17	0.17	0.17	0.17	0.18	0.00

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $308,105K ÷ ($308,105K + $67,539K)
= 0.82

The debt-to-capital ratio for Sanmina Corporation has shown fluctuations over the periods presented. The ratio ranged from 0.00 to 0.85, indicating varying levels of leverage during these periods. A higher ratio suggests a higher proportion of debt in the company's capital structure, indicating potential higher financial risk.

In the most recent period, as of December 31, 2023, the debt-to-capital ratio stands at 0.82, reflecting a higher reliance on debt compared to the previous period. Conversely, in September 2023 and March 2023, the ratio was at its lowest at 0.13, indicating a lower level of debt relative to the total capital employed by the company.

It is important to further evaluate the reasons behind these fluctuations in the debt-to-capital ratio to assess the company's debt management strategy, financial health, and risk profile accurately.