What is Sanmina's latest dividend and current dividend yield?

What is the revenue and EPS growth rate for Sanmina year over year?

What does Sanmina do and what are its main business segments?

What were the key takeaways from Sanmina’s earnings call?

What guidance did Sanmina's management provide for the next earnings period?

What factors drove the changes in Sanmina's revenue and profit?

What were the key takeaways from Sanmina's earnings call?

What is Sanmina's gross profit margin?

- **$8.13B FY25 Revenue Growth**: 7.4% YoY driven by cloud/AI, non-GAAP EPS up 14.4% to $6.04.
- **ZT Systems Acquisition**: Adds $5.7B annual run rate, targeting $16B+ revenue by 2027.
- **Q4 2025 Results**: $2.1B revenue, 9.4% gross margin, $1.67 EPS (16.7% YoY growth).
- **2026 Outlook**: Legacy Sanmina high single-digit growth, ZT contributing $5.7B+, 5.6%-6.1% operating margin.

**【CEO Summary Section】**
- Fiscal 2025 revenue reached $8.13 billion, up 7.4% year-over-year, driven by strong performance in communication networks and cloud/AI end markets.
- Non-GAAP EPS of $6.04 (14.4% YoY growth) and operating margin of 5.7% reflect disciplined execution and margin expansion.
- Completed ZT Systems acquisition, adding $5.7 billion annual run rate and enhancing AI infrastructure capabilities.
- 2026 guidance: Legacy Sanmina revenue growth in high single digits, ZT Systems contributing $5.7B+ annualized, targeting $16B+ revenue by 2027.

**【CFO Financial Commentary】**
- Q4 2025 revenue $2.1B (3.9% YoY growth), non-GAAP EPS $1.67 (16.7% YoY), exceeding expectations.
- Gross margin improved 70bps to 9.4%, driven by product mix and operational efficiency.
- Operating expenses $70M, up 3.9% YoY, reflecting strategic investments in growth initiatives.
- Cash flow from operations $621M for the year, with $926M cash on hand and no debt on revolver.
- 2026Q1 guidance: Revenue $2.9B-$3.2B, operating margin 5.6%-6.1%, EPS $1.95-$2.25.

**【Q&A Highlights】**
- ZT Systems integration: 2-month post-acquisition revenue $850M-$1.05B, operating margin in-line with legacy business (5.6%-6.1%).
- Legacy Sanmina growth: Industrial/energy/medical segments expected to accelerate in 2H26, automotive short-term softness offset by new programs.
- Cash flow: Legacy business maintains strong cash conversion, ZT working capital needs to be monitored.
- India joint venture: Expanding AI capabilities with new factory in 2026.
- Auto segment: New programs expected to offset near-term weakness.

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