SANM vs TTMI: Which Is the Better Buy in 2026?
Last updated August 2026
Short answer
SANM and TTMI are similarly sized, but SANM trades noticeably cheaper on forward earnings (13.33x vs 21.38x): the market is paying up for TTMI's profile and pricing SANM more conservatively, or for faster growth. Which you prefer comes down to the drivers you believe, and whether adding either over-concentrates what you already own.
SANM vs TTMI: the tie-breaker metrics
Same yardstick, side by side (as of August 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.
| Metric | SANM | TTMI | What it tells you |
|---|---|---|---|
| Market cap | $9.95B | $11.99B | Size. The larger name is the incumbent; the smaller has more room to grow and more to prove. |
| Forward P/E | 13.33 | 21.38 | Valuation on next year's expected earnings, the same yardstick for both. Lower is cheaper for that growth; higher means the market is paying up. |
| Trailing P/E | 33.19 | 62.74 | Valuation on the last 12 months. A big drop from trailing to forward means the market expects earnings to jump, so more growth is already in the price. |
| Beta | 1.56 | 2.10 | Volatility vs the market. Above 1 swings harder than the index; below 1 is steadier. Higher beta means bigger drawdowns to hold through. |
| Price vs 52-week range | 43% of range | 41% of range | Where today's price sits between the 52-week low and high. Near the high is momentum with less margin of safety; near the low is out of favor or a discount, depending on why. |
| Price / book | 4.11 | 6.52 | How much you pay over book value. Very high can signal an asset-light, high-return business or a rich price. |
Reading it: SANM is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.
Before you buy: how SANM and TTMI affect your concentration
The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. SANM and TTMI share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.
This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined SANM and TTMI exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.
What does Sanmina Corporation (SANM) do?
Sanmina Corporation, founded in Silicon Valley in 1980 and headquartered in San Jose, California, is a Fortune 500 global provider of integrated manufacturing solutions, components, and repair, logistics and after-market services. It serves original equipment manufacturers (OEMs) across industrial and energy, medical, defense and aerospace, automotive, communications networks, and cloud and AI infrastructure, running two businesses: Integrated Manufacturing Solutions and Components, Products and Services. It employs roughly 35,000 people and serves customers from around 20 countries.
What does TTM Technologies (TTMI) do?
TTM Technologies (Nasdaq: TTMI) makes technologically advanced printed circuit boards, RF and microwave components, and mission-systems assemblies. The name stands for time-to-market, reflecting a one-stop design, engineering, and manufacturing model. Its two anchor end markets are aerospace and defense (roughly 44% of sales, backed by a record backlog of about $1.61 billion as of early 2026 and multi-year programs like a $200 million Raytheon LTAMDS radar award) and data center and networking (about 36% of sales), where demand has surged with AI-driven interconnect complexity. The company has invested in domestic capacity, including a new Ultra-HDI plant in Syracuse, New York, and announced planned all-cash acquisitions of Swiss Technology Group and ILFA expected to close in the third quarter of 2026.
SANM vs TTMI: how do they differ?
Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.
- SANM drivers: AI and cloud infrastructure ramp; AMD partnership and preferred-manufacturer status.
- TTMI drivers: AI data center interconnect demand; Aerospace and defense backlog.
Which fits which kind of investor
A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: Sanmina operates on thin EMS margins (non-GAAP operating margin around 6%), so small execution errors or pricing pressure can meaningfully affect profits. For TTMI, pCB manufacturing has historically been cyclical and capital-intensive, and a slowdown in AI capital spending or defense budgets would pressure both anchor markets.
SANM or TTMI: which should you pick?
SANM vs TTMI: the full fundamentals
SANM. Revenue and earnings stepped up sharply after the ZT Systems acquisition closed in late 2025, roughly doubling quarterly sales. The stock trades at a large premium to its roughly 15x ten-year average P/E, reflecting AI-driven enthusiasm, so much of the future growth appears to be priced in.
TTMI. TTM delivered record first-quarter 2026 net sales near $846 million with an adjusted EBITDA margin around 16%, and raised guidance on AI and defense demand. The stock re-rated sharply into 2026, reaching an all-time high near $224 in June before pulling back. Trailing and forward multiples sit well above TTM's multi-year averages, reflecting high growth expectations.
Headline figures (approximate, July 2026): SANM shows revenue (fy2026 guidance) ~$13.7B to $14.3B, q2 fy2026 revenue ~$4.0B (up ~102% YoY), fy2025 revenue ~$8.1B, non-gaap eps (fy2026 guidance) ~$10.75 to $11.35; TTMI shows revenue (ttm) ~$3.1B, fy2025 revenue ~$2.91B, q1 2026 revenue ~$846M (up ~30% YoY), q1 2026 non-gaap eps ~$0.75.
The bottom line: SANM vs TTMI
SANM and TTMI are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined SANM and TTMI exposure against your real portfolio. It is not an investment adviser.
Wondering how SANM or TTMI fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in Sanmina Corporation with AI
Connect the broker you already use and ask Walnut's AI how SANM fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is the difference between SANM and TTMI?
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Sanmina Corporation, founded in Silicon Valley in 1980 and headquartered in San Jose, California, is a Fortune 500 global provider of integrated manufacturing solutions, components, and repair, logistics and after-market services. TTM Technologies (Nasdaq: TTMI) makes technologically advanced printed circuit boards, RF and microwave components, and mission-systems assemblies. They show up together because they share investment themes, but they are different businesses, so the better fit depends on which thesis you are expressing.
Is SANM or TTMI the better stock?
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Neither is universally better; they suit different views and risk levels. Walnut is informational, not investment advice. Compare what each does, the tie-breaker metrics above, and the risks, then decide which fits your thesis and what you already own.
Which is cheaper, SANM or TTMI?
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On forward P/E (as of August 2026), SANM trades at 13.33x and TTMI at 21.38x, so SANM is the cheaper of the two on next year's expected earnings. A lower multiple is not automatically the better buy: a richer valuation can be justified by faster growth, and a lower one can reflect real risk. Weigh the multiple against how fast each business is compounding.
Should you own both SANM and TTMI?
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Because they share themes, owning both concentrates you in that theme. That can be intentional (a focused bet) or accidental (less diversification than it looks). Walnut can show your combined exposure across both, and whether adding either over-concentrates you, before you buy.
What are the risks of SANM vs TTMI?
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SANM: Sanmina operates on thin EMS margins (non-GAAP operating margin around 6%), so small execution errors or pricing pressure can meaningfully affect profits. The ZT Systems business creates heavy revenue concentration tied to AI and data-center capital spending, which is cyclical and could slow if hyperscaler or AMD-related demand cools. Integration of a multi-billion-dollar acquisition carries operational and financial risk, and the AMD relationship makes results partly dependent on one large partner. The stock now trades at a large premium to its long-run average valuation, so disappointment relative to lofty AI expectations could pressure the shares. Broader risks include supply-chain disruption, customer concentration, and macro cyclicality across its industrial and communications markets. TTMI: PCB manufacturing has historically been cyclical and capital-intensive, and a slowdown in AI capital spending or defense budgets would pressure both anchor markets. Customer concentration is meaningful, with large OEMs and defense contractors accounting for a significant share of revenue, so a lost program or design socket can matter. The 2026 valuation is elevated relative to history, leaving the stock sensitive to any growth disappointment or margin slippage. Integration risk from the STG and ILFA acquisitions, plus tariff, supply-chain, and foreign-competition dynamics, add further uncertainty. Global competitors with larger scale in commodity PCB volume can pressure pricing outside TTM's defense niche.
Walnut is informational, not investment advice. This page is descriptive and not a recommendation to buy or sell SANM or TTMI; figures are approximate and dated (as of August 2026). Verify current data before investing.