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Why Investors Shouldn't Be Surprised By Sanmina Corporation's (NASDAQ:SANM) Low P/E
Why Investors Shouldn't Be Surprised By Sanmina Corporation's (NASDAQ:SANM) Low P/E
Sanmina Corporation's (NASDAQ:SANM) price-to-earnings (or "P/E") ratio of 9.2x might make it look like a buy right now compared to the market in the United States, where around half of the companies have P/E ratios above 16x and even P/E's above 30x are quite common. However, the P/E might be low for a reason and it requires further investigation to determine if it's justified.
With earnings growth that's superior to most other companies of late, Sanmina has been doing relatively well. It might be that many expect the strong earnings performance to degrade substantially, which has repressed the P/E. If you like the company, you'd be hoping this isn't the case so that you could potentially pick up some stock while it's out of favour.
Check out our latest analysis for Sanmina
NasdaqGS:SANM Price Based on Past Earnings June 11th 2022 Want the full picture on analyst estimates for the company? Then our free report on Sanmina will help you uncover what's on the horizon.Is There Any Growth For Sanmina?
In order to justify its P/E ratio, Sanmina would need to produce sluggish growth that's trailing the market.
If we review the last year of earnings growth, the company posted a terrific increase of 54%. Pleasingly, EPS has also lifted 184% in aggregate from three years ago, thanks to the last 12 months of growth. So we can start by confirming that the company has done a great job of growing earnings over that time.
Looking ahead now, EPS is anticipated to slump, contracting by 15% during the coming year according to the four analysts following the company. Meanwhile, the broader market is forecast to expand by 10%, which paints a poor picture.
In light of this, it's understandable that Sanmina's P/E would sit below the majority of other companies. Nonetheless, there's no guarantee the P/E has reached a floor yet with earnings going in reverse. There's potential for the P/E to fall to even lower levels if the company doesn't improve its profitability.
The Bottom Line On Sanmina's P/E
It's argued the price-to-earnings ratio is an inferior measure of value within certain industries, but it can be a powerful business sentiment indicator.
We've established that Sanmina maintains its low P/E on the weakness of its forecast for sliding earnings, as expected. Right now shareholders are accepting the low P/E as they concede future earnings probably won't provide any pleasant surprises. It's hard to see the share price rising strongly in the near future under these circumstances.
Having said that, be aware Sanmina is showing 2 warning signs in our investment analysis, and 1 of those makes us a bit uncomfortable.
You might be able to find a better investment than Sanmina. If you want a selection of possible candidates, check out this free list of interesting companies that trade on a P/E below 20x (but have proven they can grow earnings).
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Sanmina Corporation's (NASDAQ:SANM) price-to-earnings (or "P/E") ratio of 9.2x might make it look like a buy right now compared to the market in the United States, where around half of the companies have P/E ratios above 16x and even P/E's above 30x are quite common. However, the P/E might be low for a reason and it requires further investigation to determine if it's justified.
Sanmina公司的纳斯达克(Alipay:SAIM)9.2倍的市盈率可能让它与美国市场相比看起来像是买入,在美国,大约一半的公司的市盈率超过16倍,甚至超过30倍的市盈率也很常见。然而,市盈率可能是有原因的,需要进一步调查才能确定它是否合理。
With earnings growth that's superior to most other companies of late, Sanmina has been doing relatively well. It might be that many expect the strong earnings performance to degrade substantially, which has repressed the P/E. If you like the company, you'd be hoping this isn't the case so that you could potentially pick up some stock while it's out of favour.
最近,Sanmina的收益增长好于大多数其他公司,因此它的表现相对较好。许多人可能预计强劲的盈利表现将大幅下滑,这抑制了市盈率。如果你喜欢这家公司,你可能会希望情况并非如此,这样你就可以在不受青睐的时候买入一些股票。
Check out our latest analysis for Sanmina
查看我们对Sanmina的最新分析
Is There Any Growth For Sanmina?
Sanmina有增长吗?
In order to justify its P/E ratio, Sanmina would need to produce sluggish growth that's trailing the market.
为了证明其市盈率是合理的,Sanmina需要实现落后于市场的低迷增长。
If we review the last year of earnings growth, the company posted a terrific increase of 54%. Pleasingly, EPS has also lifted 184% in aggregate from three years ago, thanks to the last 12 months of growth. So we can start by confirming that the company has done a great job of growing earnings over that time.
如果我们回顾一下去年的收益增长,该公司公布了54%的惊人增长。令人欣喜的是,由于过去12个月的增长,每股收益也比三年前上涨了184%。因此,我们可以从确认该公司在这段时间内在增长收益方面做得很好开始。
Looking ahead now, EPS is anticipated to slump, contracting by 15% during the coming year according to the four analysts following the company. Meanwhile, the broader market is forecast to expand by 10%, which paints a poor picture.
根据跟踪该公司的四位分析师的说法,展望未来,每股收益预计将大幅下滑,来年将收缩15%。与此同时,更广泛的市场预计将扩大10%,这描绘了一幅糟糕的图景。
In light of this, it's understandable that Sanmina's P/E would sit below the majority of other companies. Nonetheless, there's no guarantee the P/E has reached a floor yet with earnings going in reverse. There's potential for the P/E to fall to even lower levels if the company doesn't improve its profitability.
有鉴于此,Sanmina的市盈率低于大多数其他公司也是可以理解的。尽管如此,不能保证市盈率已经触底,盈利出现了逆转。如果该公司不提高盈利能力,市盈率有可能降至更低的水平。
The Bottom Line On Sanmina's P/E
Sanmina的市盈率底线
It's argued the price-to-earnings ratio is an inferior measure of value within certain industries, but it can be a powerful business sentiment indicator.
有人认为,市盈率是衡量某些行业价值的次要指标,但它可以成为一个强大的商业信心指标。
We've established that Sanmina maintains its low P/E on the weakness of its forecast for sliding earnings, as expected. Right now shareholders are accepting the low P/E as they concede future earnings probably won't provide any pleasant surprises. It's hard to see the share price rising strongly in the near future under these circumstances.
我们已经确定,Sanmina维持低市盈率的原因是其盈利下滑的预测疲软,正如预期的那样。目前,股东们正在接受低市盈率,因为他们承认,未来的收益可能不会带来任何令人愉快的惊喜。在这种情况下,很难看到股价在不久的将来强劲上涨。
Having said that, be aware Sanmina is showing 2 warning signs in our investment analysis, and 1 of those makes us a bit uncomfortable.
话虽如此,但请注意Sanmina显示出两个警告信号在我们的投资分析中,其中之一让我们有点不舒服。
You might be able to find a better investment than Sanmina. If you want a selection of possible candidates, check out this free list of interesting companies that trade on a P/E below 20x (but have proven they can grow earnings).
你也许能找到比Sanmina更好的投资。如果您想要选择可能的候选人,请查看以下内容免费令人感兴趣的市盈率低于20倍的公司名单(但已证明它们可以增加收益)。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
对这篇文章有什么反馈吗?担心内容吗? 保持联系直接与我们联系。或者,也可以给编辑组发电子邮件,地址是implywallst.com。
本文由Simply Wall St.撰写,具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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