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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公司的納斯達克(Alipay:SAIM)9.2倍的市盈率可能讓它與美國市場相比看起來像是買入,在美國,大約一半的公司的市盈率超過16倍,甚至超過30倍的市盈率也很常見。然而,市盈率可能是有原因的,需要進一步調查才能確定它是否合理。
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的收益增長好於大多數其他公司,因此它的表現相對較好。許多人可能預計強勁的盈利表現將大幅下滑,這抑制了市盈率。如果你喜歡這家公司,你可能會希望情況並非如此,這樣你就可以在不受青睞的時候買入一些股票。
Check out our latest analysis for Sanmina
查看我們對Sanmina的最新分析
Is There Any Growth For Sanmina?
Sanmina有增長嗎?
In order to justify its P/E ratio, Sanmina would need to produce sluggish growth that's trailing the market.
為了證明其市盈率是合理的,Sanmina需要實現落後於市場的低迷增長。
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.
如果我們回顧一下去年的收益增長,該公司公佈了54%的驚人增長。令人欣喜的是,由於過去12個月的增長,每股收益也比三年前上漲了184%。因此,我們可以從確認該公司在這段時間內在增長收益方面做得很好開始。
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.
根據跟蹤該公司的四位分析師的説法,展望未來,每股收益預計將大幅下滑,來年將收縮15%。與此同時,更廣泛的市場預計將擴大10%,這描繪了一幅糟糕的圖景。
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.
有鑑於此,Sanmina的市盈率低於大多數其他公司也是可以理解的。儘管如此,不能保證市盈率已經觸底,盈利出現了逆轉。如果該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的市盈率底線
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.
有人認為,市盈率是衡量某些行業價值的次要指標,但它可以成為一個強大的商業信心指標。
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.
我們已經確定,Sanmina維持低市盈率的原因是其盈利下滑的預測疲軟,正如預期的那樣。目前,股東們正在接受低市盈率,因為他們承認,未來的收益可能不會帶來任何令人愉快的驚喜。在這種情況下,很難看到股價在不久的將來強勁上漲。
Having said that, be aware Sanmina is showing 2 warning signs in our investment analysis, and 1 of those makes us a bit uncomfortable.
話雖如此,但請注意Sanmina顯示出兩個警告信號在我們的投資分析中,其中之一讓我們有點不舒服。
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).
你也許能找到比Sanmina更好的投資。如果您想要選擇可能的候選人,請查看以下內容免費令人感興趣的市盈率低於20倍的公司名單(但已證明它們可以增加收益)。
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.
對這篇文章有什麼反饋嗎?擔心內容嗎? 保持聯繫直接與我們聯繫。或者,也可以給編輯組發電子郵件,地址是implywallst.com。
本文由Simply Wall St.撰寫,具有概括性。我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論,我們的文章並不打算作為財務建議。它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況。我們的目標是為您帶來由基本面數據驅動的長期重點分析。請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內。Simply Wall St.對上述任何一隻股票都沒有持倉。
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moomoo是Moomoo Technologies Inc.公司提供的金融資訊和交易應用程式。
在美國,moomoo上的投資產品和服務由Moomoo Financial Inc.提供,一家受美國證券交易委員會(SEC)監管的持牌主體。 Moomoo Financial Inc.是金融業監管局(FINRA)和證券投資者保護公司(SIPC)的成員。
在新加坡,moomoo上的投資產品和服務是通過Moomoo Financial Singapore Pte. Ltd.提供,該公司受新加坡金融管理局(MAS)監管(牌照號碼︰CMS101000) ,持有資本市場服務牌照 (CMS) ,持有財務顧問豁免(Exempt Financial Adviser)資質。本內容未經新加坡金融管理局的審查。
在澳大利亞,moomoo上的金融產品和服務是通過Futu Securities (Australia) Ltd提供,該公司是受澳大利亞證券和投資委員會(ASIC)監管的澳大利亞金融服務許可機構(AFSL No. 224663)。請閱讀並理解我們的《金融服務指南》、《條款與條件》、《隱私政策》和其他披露文件,這些文件可在我們的網站 https://www.moomoo.com/au中獲取。
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在馬來西亞,moomoo上的投資產品和服務是透過Moomoo Securities Malaysia Sdn. Bhd. 提供,該公司受馬來西亞證券監督委員會(SC)監管(牌照號碼︰eCMSL/A0397/2024) ,持有資本市場服務牌照 (CMSL) 。本內容未經馬來西亞證券監督委員會的審查。
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