Sandisk vs Seagate Technology
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KIRAβs take AI analyst
I put Sandisk and Seagate Technology side by side, using each oneβs latest annual report. Here is what stands out:
- Sandisk is the larger business, with $20.2B of revenue in fiscal 2026 against $12.2B for Seagate Technology, about 1.7 times as much.
- Sandisk grew revenue faster (175.3%, against 34.1%).
- Sandisk kept more of each dollar of sales as operating profit (61.2% operating margin, against 33.6%).
- Sandisk turned more of its sales into free cash flow (56.8% FCF margin, against 25.5%).
- Sandisk earned a higher return on the capital invested in it (105.9%, against 92.0%).
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
Sandisk
SNDK
7/10
Revenue growthGross marginOperating marginNet marginFCF marginReturn on capitalNet debt / EBITDA
Seagate Technology
STX
3/10
Return on equityPiotroski F-scoreShare count change
Side by side
Best in the row
| Latest fiscal year | SNDK FY26 | STX FY26 |
|---|---|---|
| Size | ||
| Market cap | $194.6B | $147.5B |
| Revenue | $20.2B | $12.2B |
| Free cash flow | $11.5B | $3.1B |
| Net income | $11.4B | $3.2B |
| Growth | ||
| Revenue growth | 175.3% | 34.1% |
| 5-year growth | β | 2.7% |
| Share count change | 6.9% | 5.5% |
| Profitability | ||
| Gross margin | 71.5% | 45.6% |
| Operating margin | 61.2% | 33.6% |
| Net margin | 56.5% | 26.1% |
| FCF margin | 56.8% | 25.5% |
| Return on capital | 105.9% | 92.0% |
| Return on equity | 91.6% | 371.5% |
| Balance sheet | ||
| Net debt | β$4.8B | $1.9B |
| Net debt / EBITDA | β0.4x | 0.4x |
| Dividends and buybacks | $4.5B | $810M |
| Valuation & quality | ||
| P/E | β | β |
| Piotroski F-score | 7 | 8 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.