Sanmina Corporation (SANM)

Debt-to-equity 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-equity ratio		4.56	0.14	4.80	0.14	5.14	5.85	0.17	0.17	0.17	0.17	0.17	0.18	0.19	0.20	0.20	0.21	0.20	0.21	0.22	0.00

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $308,105K ÷ $67,539K
= 4.56

The debt-to-equity ratio of Sanmina Corporation has shown some significant fluctuations over the periods provided. Typically, a higher debt-to-equity ratio indicates that a company has been financing its growth through debt rather than equity.

- The ratio of 4.56 at the end of December 2023 suggests that the company had a substantial amount of debt relative to its equity, indicating potential financial leverage and higher financial risk.
- The ratio dropped to 0.14 at the end of September 2023 and March 2023, indicating a significant decrease in debt relative to equity. This could signify a decrease in financial risk and a more conservative approach in capital structure.
- The ratio spiked to 5.14 at the end of December 2022, but then gradually decreased in the following quarters, indicating potentially unstable financial decisions or fluctuations in the company's capital structure strategy.
- The consistent ratio of around 0.17 from June 2022 to March 2022 indicates a more balanced capital structure, with a relatively low level of debt in comparison to equity.
- Prior to that, there was a downward trend in the ratio from 0.22 at the end of June 2019 to 0.00 at the end of March 2019, which could suggest a shift towards a more equity-funded growth strategy.

Overall, the debt-to-equity ratio of Sanmina Corporation has shown variability, reflecting potential changes in the company's financing decisions and capital structure over the periods analyzed.