Sanmina Corporation (SANM): fair value, margin of safety and Wheel Score

Is SANM undervalued?

At 143.77 (close of 5 Nov 2026), SANM trades within a few percent of the GLS average fair value of 152.65 (5.8% below fair value). 8 models produced a value and they split 3 above the price to 5 below. A stock priced at fair value earns about half of the Wheel Score's Value points; the rest of the score comes from health, moat, premium and stability.

There is a wide gap between DCF (28.14) and Payback Time (317.94). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.

Ranked against every other company we cover, SANM is clearly faster-growing than it is cheap, so the nightly engine files it under Growth (value score 32, growth score 53, out of 100).

Nine valuation models for SANM

Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.

Quality and financial health

Sanmina Corporation scores 5 of 9 on the Piotroski F-score: a middling result that falls one point short of the "Piotroski 6 or more" Wheel Trade Filter. Some of the nine tests on profitability, leverage and efficiency are failed, so the accounts are worth a look before selling a put on the name. On durability SANM scores 5.7/10 on the GLS Moat - a middle reading; the Moat Score tab on the Quote page's Financials view shows which of the four parts hold it back.

Returns on capital are moderate - ROIC 8.9%, ROE 10.4%, ROA 4.2% - with debt at 0.17 times equity and a free-cash-flow yield of 7.7%.

Sanmina Corporation pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain. Revenue comes mainly from IMS 85%, CPS Third Party Revenue 15% (quarter Q3 FY2026).

Institutional ownership scores 10/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales.

Wheel Score 32: Weak

With a Wheel Score of 32 Sanmina Corporation sits in the Weak band. It fails filter 4, financially healthy - Piotroski 5/9 (under 6); and filter 7, a premium worth selling - implied volatility 81% (over 80%); Value (weak) is its weakest part.

Implied volatility is 81%, above the 80% ceiling of the Wheel Trade Filter on premium. The premium looks generous, but moves of that size can blow through any strike. Chain open interest is 5,760 contracts across all expiries - enough for the wheel at normal size.

Volume runs at 1.2M shares a day on a market cap of $7.7B, with a beta of 1.72 - a high beta, so the stock tends to move more than the market and a strike can be gapped through; the Stability part of the Wheel Score rates that fair.

The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.

Upcoming events

Sanmina Corporation reports earnings on 9 Nov 2026 (after the close) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.

Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.

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