Sandisk
SNDK Nasdaq· Technology Hardware, Storage & Peripherals
Last close · Oct 26, 2026
$1,255.58
KIRA · Stoqly’s AI analyst, in plain words
- Sandisk had $20.2B of revenue in fiscal 2026, up 175.3% on the year before.
- Its operating margin was 61.2%, up 79.9 pts: of every 100 in sales, about 61 is left after running the business.
- Sandisk made $11.4B of net profit in fiscal 2026.
- Free cash flow was $11.5B in fiscal 2026, 56.8% of revenue.
- Sandisk returned $4.5B to shareholders in fiscal 2026, 39% of free cash flow. The diluted share count rose 6.9%.
- Sandisk has $4.8B more cash than debt.
Market cap
$194.6B
P/E
—
Revenue
$20.2B
Net income
$11.4B
Free cash flow
$11.5B
Operating margin
61.2%
Sandisk in 30 seconds · fiscal 2026
Are sales growing?
+175.3%
Yes. Sales grew 175.3% last year.
Does it make a profit?
56.5%
Yes. It keeps 56.5% of every sale as profit.
Does profit turn into cash?
56.8%
Yes. 56.8% of sales ends up as free cash.
Is debt under control?
Net cash
Yes. It has more cash than debt.
How healthy are the accounts?
7 / 9
Solid. It passes 7 of 9 health tests.
What Sandisk does
Sandisk makes flash memory, the kind of chip that keeps data stored when the power is off. It designs the chips and the products built from them, and it makes them itself. Its products include solid-state drives (SSDs), memory built into devices, removable memory cards, USB flash drives, and wafers and components. It has more than 30 years of experience with NAND flash, the most common type. Until February 21, 2025 it was wholly owned by Western Digital, and it has been a separate public company since then. Sandisk sells into three end markets. Datacenter covers products for cloud providers, private clouds and business servers, including drives for artificial intelligence work. Edge covers products it sells to computer, phone, gaming and car makers and through channel partners, who build them into devices. Consumer covers retail products such as portable drives, memory cards and USB drives sold under its own brand.
Biggest risks, in its own words
- Falling prices, swings in demand and fast technology change in the flash memory industry.
- Reliance on a small number of qualified suppliers, and on partners such as Kioxia.
- Losing a key customer, or customers combining, since a few buy a large share of its products.
- Its guarantees of obligations of Flash Ventures, and the covenants in its credit facility.
- Fiscal year ends
- July 3, 2026
- Latest annual report
- 10-K · Aug 17, 2026
- Legal name
- Sandisk Corporation
- CIK
- 0002023554
Sandisk · SNDK
Results and finances
The last 4 fiscal years. Amounts in USD.
| Fiscal year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Sales and profit | ||||
| Revenue | $6.1B | $6.7B | $7.4B | $20.2B |
| Revenue growth | — | 9.5% | 10.4% | 175.3% |
| Gross margin | 7.1% | 16.1% | 30.1% | 71.5% |
| Operating margin | −33.4% | −7.0% | −18.7% | 61.2% |
| Net income | −$2.1B | −$672M | −$1.6B | $11.4B |
| Net margin | −35.2% | −10.1% | −22.3% | 56.5% |
| Diluted EPS | −$14.78 | −$4.63 | −$11.32 | $73.76 |
| Cash | ||||
| Cash from operations | −$713M | −$309M | $84.0M | $11.7B |
| Capital expenditure | $219M | $166M | $204M | $177M |
| Free cash flow | −$932M | −$475M | −$120M | $11.5B |
| FCF margin | −15.3% | −7.1% | −1.6% | 56.8% |
| Dividends paid | $0.0M | $0.0M | $0.0M | $0.0M |
| Share buybacks | $0.0M | $0.0M | $0.0M | $4.5B |
| Share count change | — | 0.0% | 0.0% | 6.9% |
| Debt and strength | ||||
| Cash and short-term investments | $292M | $328M | $1.5B | $4.8B |
| Debt incl. finance leases | — | $0.0M | $1.8B | $0.0M |
| Shareholders' equity | $11.4B | $11.1B | $9.2B | $15.7B |
| Net debt / EBITDA | — | — | — | −0.4x |
| Current ratio | — | 1.7x | 3.6x | 2.3x |
| Interest coverage | −65.7x | −11.7x | −21.9x | 169.7x |
| Returns and quality | ||||
| Return on capital | — | — | −10.7% | 105.9% |
| Return on equity | — | — | −16.2% | 91.6% |
| Piotroski F-score | — | — | — | 7 |
| Altman Z'' | — | 5.3 | 3.3 | 9.6 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$134M
7 insiders
Of sales under plans
92%
$123M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Sandisk · SNDK
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| Sandisk SNDK | $194.6B | 175.3% | 61.2% | 56.8% | 105.9% | — | 7 |
| Western Digital WDC | $136.8B | 35.7% | 34.5% | 27.2% | 52.2% | 13.8x | 7 |
| Seagate Technology STX | $147.5B | 34.1% | 33.6% | 25.5% | 92.0% | — | 8 |
| Hewlett Packard Enterprise HPE | $85.1B | 13.8% | −1.3% | 1.8% | −0.9% | 30.4x | 4 |
| Supermicro SMCI | $22.8B | 77.8% | 7.1% | −17.9% | — | — | — |
Price compared with profit (P/E)
How many times its yearly profit per share one share costs. Higher means investors pay more for each unit of profit.
KIRA
At $1,255.58 a share, the company is worth $194.6B.
Sandisk grew sales faster than 4 of its 4 similar companies.
Source: SEC EDGAR XBRL filings (CIK 0002023554). Data updated October 9, 2026. For information only — not investment advice. Check the original filings before relying on any figure.