Corning Incorporated (GLW) vs Sanmina Corporation (SANM)

Corning Incorporated and Sanmina Corporation are both Electronic Components companies. Corning Incorporated is the larger, with a market value of $135.2B against $12.0B — 11.3× the size. Sanmina Corporation trades at the lower P/E: 39.4× against 70.9×. Sanmina Corporation grew revenue faster over the last twelve months: 58.6% against 19.4%. Corning Incorporated has the higher net margin (11.2% vs 2.41%) and the lower return on invested capital (8.52% vs 10.7%). Across the 22 metrics below, Corning Incorporated leads on 11 and Sanmina Corporation on 11.

Valuation

Metric GLW SANM Electronic Components median
P/E 70.92 39.43 39.06
P/S 7.96 0.95 3.22
P/B 10.29 4.77 3.30
Price to free cash flow 56.41 20.21 26.65
EV/EBITDA 34.96 16.72 19.69
EV/Sales 8.31 0.97 3.53
Earnings yield 1.41% 2.54% 1.34%
Free cash flow yield 1.77% 4.95% 0.40%

Profitability

Metric GLW SANM Electronic Components median
Gross margin 36.38% 9.01% 33.21%
Operating margin 15.31% 4.15% 3.53%
Net margin 11.20% 2.41% 2.57%
Free cash flow margin 14.12% 4.69% 0.20%
Return on equity 15.40% 0.00% 2.60%
Return on assets 6.16% 4.12% 2.50%
Return on invested capital 8.52% 10.74% 2.28%

Growth

Metric GLW SANM Electronic Components median
Revenue growth (TTM) 19.41% 58.56% 12.01%
EPS growth (last fiscal year) 215.52% 14.07% —
Revenue growth, 5-year CAGR 6.70% 3.18% 7.19%
Net income growth, 5-year CAGR 30.98% 13.05% 0.00%

Health

Metric GLW SANM Electronic Components median
Debt to equity 0.64 0.79 0.16
Current ratio 1.81 1.78 2.41
Net debt to EBITDA 1.91 (1.32) 0.32

Dividend

Metric GLW SANM Electronic Components median
Dividend yield 3.56% — 1.18%
Payout ratio 1.63 0.00 0.00

Size

Metric GLW SANM Electronic Components median
Market cap 135.20b 11.96b 780.25m

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