Bel Fuse Inc. (BELFA) vs Sanmina Corporation (SANM)

Bel Fuse Inc. and Sanmina Corporation are both Electronic Components companies. Sanmina Corporation is the larger, with a market value of $12.0B against $3.5B — 3.4× the size. Sanmina Corporation trades at the lower P/E: 39.4× against 51.8×. Sanmina Corporation grew revenue faster over the last twelve months: 58.6% against 25.3%. Bel Fuse Inc. has the higher net margin (7.21% vs 2.41%) and the higher return on invested capital (12.3% vs 10.7%). Across the 22 metrics below, Bel Fuse Inc. leads on 13 and Sanmina Corporation on 9.

Valuation

Metric BELFA SANM Electronic Components median
P/E 51.81 39.43 39.06
P/S 3.71 0.95 3.22
P/B 3.04 4.77 3.30
Price to free cash flow 36.21 20.21 26.65
EV/EBITDA 18.14 16.72 19.69
EV/Sales 3.58 0.97 3.53
Earnings yield 1.93% 2.54% 1.34%
Free cash flow yield 2.76% 4.95% 0.40%

Profitability

Metric BELFA SANM Electronic Components median
Gross margin 39.52% 9.01% 33.21%
Operating margin 15.88% 4.15% 3.53%
Net margin 7.21% 2.41% 2.57%
Free cash flow margin 10.25% 4.69% 0.20%
Return on equity 8.17% 0.00% 2.60%
Return on assets 4.85% 4.12% 2.50%
Return on invested capital 12.25% 10.74% 2.28%

Growth

Metric BELFA SANM Electronic Components median
Revenue growth (TTM) 25.26% 58.56% 12.01%
EPS growth (last fiscal year) 50.49% 14.07% —
Revenue growth, 5-year CAGR 7.72% 3.18% 7.19%
Net income growth, 5-year CAGR 36.90% 13.05% 0.00%

Health

Metric BELFA SANM Electronic Components median
Debt to equity 0.00 0.79 0.16
Current ratio 4.48 1.78 2.41
Net debt to EBITDA 1.00 (1.32) 0.32

Dividend

Metric BELFA SANM Electronic Components median
Dividend yield 0.51% — 1.18%
Payout ratio 0.04 0.00 0.00

Size

Metric BELFA SANM Electronic Components median
Market cap 3.52b 11.96b 780.25m

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