NASDAQ: SNDK
Sandisk
Technology · Computer Storage Devices
52-week range
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Oct 2, 2026. Hover or tap a column for another year.$245B
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| Period | Market cap |
|---|---|
| FY2023, ended Jun 30, 2023 | — |
| FY2024, ended Jun 28, 2024 | — |
| FY2025, ended Jun 27, 2025 | $6.87B |
| FY2026, ended Jul 3, 2026 | $256B |
| Trailing 12 months to Oct 2, 2026 (through Q1 FY2027) | $245B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Oct 2, 2026. Hover or tap a column for another year.$29.0B
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| Period | Revenue |
|---|---|
| FY2023, ended Jun 30, 2023 | $6.09B |
| FY2024, ended Jun 28, 2024 | $6.66B |
| FY2025, ended Jun 27, 2025 | $7.36B |
| FY2026, ended Jul 3, 2026 | $20.2B |
| Trailing 12 months to Oct 2, 2026 (through Q1 FY2027) | $29.0B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Oct 2, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2023, ended Jun 30, 2023 | −$2.14B | −$932M |
| FY2024, ended Jun 28, 2024 | −$672M | −$475M |
| FY2025, ended Jun 27, 2025 | −$1.64B | −$120M |
| FY2026, ended Jul 3, 2026 | $11.4B | $11.5B |
| Trailing 12 months to Oct 2, 2026 (through Q1 FY2027) | $19.4B | $17.4B |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Oct 2, 2026. Hover or tap a column for another year.$5.14B
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| Period | Cash and cash equivalents |
|---|---|
| FY2023, ended Jun 30, 2023 | $292M |
| FY2024, ended Jun 28, 2024 | $328M |
| FY2025, ended Jun 27, 2025 | $1.48B |
| FY2026, ended Jul 3, 2026 | $4.76B |
| Trailing 12 months to Oct 2, 2026 (through Q1 FY2027) | $5.14B |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Oct 2, 2026. Hover or tap a column for another year.—
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| Period | Total debt |
|---|---|
| FY2023, ended Jun 30, 2023 | — |
| FY2024, ended Jun 28, 2024 | $0 |
| FY2025, ended Jun 27, 2025 | $1.85B |
| FY2026, ended Jul 3, 2026 | $0 |
| Trailing 12 months to Oct 2, 2026 (through Q1 FY2027) | — |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Down 1.9% since 2023.Figures shown are for the trailing 12 months to Oct 2, 2026. Hover or tap a column for another year.142M
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| Period | Shares outstanding |
|---|---|
| FY2023, ended Jun 30, 2023 | 145M |
| FY2024, ended Jun 28, 2024 | 145M |
| FY2025, ended Jun 27, 2025 | 146M |
| FY2026, ended Jul 3, 2026 | 146M |
| Trailing 12 months to Oct 2, 2026 (through Q1 FY2027) | 142M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Oct 2, 2026. Hover or tap a column for another year.Net: $9.25B more bought back than issued
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| Period | Bought back | Paid to employees |
|---|---|---|
| FY2023, ended Jun 30, 2023 | — | $165M |
| FY2024, ended Jun 28, 2024 | $0 | $149M |
| FY2025, ended Jun 27, 2025 | $0 | $182M |
| FY2026, ended Jul 3, 2026 | $4.52B | $232M |
| Trailing 12 months to Oct 2, 2026 (through Q1 FY2027) | $9.52B | $270M |
Revenue (TTM)
$29.0B
+272% YoY
Net income (TTM)
$19.4B
n/m YoY
Cash
$5.14B
+256% YoY
Total debt
—
—
Valuation
At current price- Market Cap
- $164B
- P/E
- 8.4×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 5.7×
- Price / Book
- 9.0×
- EV / EBITDA
- —. (Market cap + debt − cash) / EBITDA (TTM)
Growth
Trailing 12 months- Revenue (TTM)
- $29.0B
- Revenue Growth YoY
- 272%
- Revenue CAGR 3Y
- 49.3%
- Revenue CAGR 5Y
- —. Compound annual growth over the last 5 fiscal years
- EPS Growth YoY
- n/m. Diluted EPS, TTM vs. TTM a year earlier
- Net Income Growth YoY
- n/m. TTM vs. TTM a year earlier
Profitability
Trailing 12 months- Gross Margin
- 80.0%
- Operating Margin
- 72.5%
- Net Margin
- 67.0%
- FCF Margin
- 59.9%
- Return on Equity
- 141%
Earnings
Trailing 12 months- Net Income
- $19.4B
- EPS (diluted)
- $125.61
- EBITDA
- $21.1B
- Operating Income
- $21.0B
Balance Sheet
As of Oct 2, 2026- Cash and cash equivalents
- $5.14B
- Total Debt
- —. Short- and long-term borrowings, excluding leases
- Net Cash
- —. Cash − total debt
- Total Assets
- $25.8B
- Total Liabilities
- $7.66B
- Shareholders' Equity
- $18.1B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $17.5B
- Capital Expenditure
- $181M
- Free Cash Flow
- $17.4B
Dividends and risk
Last 12 months- Dividend Yield
- 0.0%
- Dividend / Share
- $0.00
- Beta (5Y)
- —. 5-year monthly returns vs. S&P 500 (SPY)
Every ratio is calculated from the company’s reported figures.
Strength
Revenue grew 272% over the last year, to $29.0B.
Strength
Operating margin widened 91.6 pts in a year, to 72.5%.
Strength
Turns 59.9% of revenue into free cash flow.
Strength
Share count is down 2.9% in a year, from buybacks.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-Q for the quarter ended Oct 2, 2026 · filed Oct 30, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2026 · 10-K77Good news
10-K for the fiscal year ended Jul 3, 2026
Filed Aug 17, 2026 · Read the filing on EDGAR
- Revenue nearly tripled to $20.2 billion, up 175%, because AI-driven demand pushed up both flash memory prices and volumes. Gross margin jumped from 30% to 71.5%.
- Sandisk swung from a $1.64 billion loss to $11.4 billion of net income. That included an $808 million gain on its stake in the Taiwanese memory maker Nanya.
- It paid off the $2.0 billion spin-off term loan early from cash, spent $4.5 billion on share buybacks, and approved a further $14 billion buyback.
- It started signing multi-year volume contracts with customers (called NBMs), backed by $1.24 billion of customer prepayments and $1.5 billion of security deposits.
Business momentum
Strong improvement
“Net revenue increased 175%, or $12,893 million, in 2026 compared to 2025, due to a 437% increase in Datacenter revenue, a 195% increase in Edge revenue, and a 29% increase in Consumer revenue.”
Outlook
Positive
“We expect AI-driven demand to persist through calendar year 2027 and beyond.”
Financial stress
None
“On March 4, 2026, the Company settled in full the remaining outstanding principal amounts of the Term Loan Facility, plus accrued interest, using cash on hand.”
Tone against the previous report
More positive
Red flags
None found in this report.
Positives
Record profits and margins
“Gross profit margin increased 4,100 basis points in 2026 compared to 2025 primarily due to higher sales and higher pricing.”
Strong cash generation, debt paid off
“Operating activities $ 11,671 $ 84 $ (309)”
Long-term contracts should make revenue more predictable
“we believe that this business model will contribute to greater predictability of revenue, support production planning, and enhance supply assurance for our customers.”
Concerns
Growth depends mostly on higher prices, which can reverse
“Consumer revenue increased 29%, or $667 million in 2026 compared to 2025, primarily due to higher pricing partially offset by lower sales.”
Inventory is taking longer to sell
“DIO increased 43 days over the prior year, primarily due to inventory builds to meet demand.”
Heavy dependence on AI data center spending
“Delays in data center build-outs could result in excess inventory, underutilization of capacity, or other costs if anticipated demand does not materialize or is not sustained.”
New risks since the previous report
Multi-year customer supply contracts (NBMs)
“Long-term agreements, which we also refer to as New Business Models or “NBMs”, expose us to certain execution, financial, and market risks, which could be significant.”
Swings in the value of the Nanya stake
“Assuming a decline of 10% in market prices, the aggregate value of our marketable equity securities could decrease by $178 million, based on the fair value as of July 3, 2026.”
DRAM shortages limiting data center SSD sales
“DRAM, which is a commodity component that has experienced supply constraints and may remain in short supply for extended periods.”
Senior leaders could leave once stock awards vest in 2028
“If the value of these awards at such time remains materially appreciated above their grant date values, we could experience attrition among these leaders when the awards vest.”
New 15% minimum tax from fiscal 2027
“We expect to be subject to CAMT in fiscal year 2027.”
Biggest risks named
- Boom-and-bust swings in flash memory prices and demand
- Dependence on AI data center spending
- Dependence on the Kioxia joint ventures for flash supply
- Delivering on long-term customer supply contracts
- Tariffs and trade restrictions
Artificial intelligence in this business: Core to the business
How the score adds up
| Starting point | 60 | |
| Business momentum | +12 | |
| Outlook | +3 | |
| Tone against the previous report | +2 | |
| Financial stress | +2 | |
| Red flags | 0 | |
| New risks | −2 | |
| Score | 77 | |
Written by AI (Claude Opus 5.5) from the report’s text. 14 of 14 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-Q | Oct 30, 2026 | Pro | |||
| 10-K | Aug 17, 2026 | 77 | Strong improvement | None | |
| 10-K | Aug 21, 2025 | 40 | Sharp deterioration | 1 medium |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q1 FY2027 (period ended Oct 2, 2026), filed Oct 30, 2026. View filings on SEC EDGAR