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Sunday 1 November 2026
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Sandisk Corporation
SNDK Technology Computer Hardware
Sandisk Corporation’s revenue for fiscal 2026 (year ended June 2026) was $20.2 billion, up 175.3% from fiscal 2025.
- Revenue
- +371.6%
- EPS
- +29,450.0%
- Free cash flow
- +14,355.1%
Quarter to June 2026, against a year earlier
1,150.89
179.16
−13.47%
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Analyst price targets
Free accountTen years at a glance Fiscal years to June
| Ten-year view | Analyst estimates Powerpack | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Trend | 10 yrs | 2027e | 2028e | 2029e | Next 3/yr |
| Income, $m | |||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | 6,086 | 6,663 | 7,355 | 20,248 | +49.3% | 49,643 | 59,461 | 58,441 | +42.4% | |
| Gross margin, % | — | — | — | — | — | — | 7.07 | 16.09 | 30.07 | 71.47 | +64.4 pt | ||||||
| EBT | — | — | — | — | — | — | (2,002) | (503) | (1,479) | 13,017 | n/m | ||||||
| EBT margin, % | — | — | — | — | — | — | (32.90) | (7.55) | (20.11) | 64.29 | +97.2 pt | ||||||
| Net income | — | — | — | — | — | — | (2,143) | (672) | (1,641) | 11,433 | n/m | ||||||
| Per share, $ | |||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | — | 41.97 | 45.95 | 50.72 | 137.74 | +48.6% | |||||
| Earnings | — | — | — | — | — | — | (14.78) | (4.63) | (11.32) | 77.78 | n/m | ||||||
| Cash flow | — | — | — | — | — | — | (4.92) | (2.13) | 0.58 | 79.39 | n/m | ||||||
| Capex | — | — | — | — | — | — | (1.51) | (0.20) | (1.41) | (1.20) | (7.3%) | ||||||
| Free cash flow | — | — | — | — | — | — | (6.43) | (2.33) | (0.83) | 78.19 | n/m | ||||||
| Book value | — | — | — | — | — | — | 0.00 | 76.43 | 63.56 | 107.05 | n/m | ||||||
| Shares, m | — | — | — | — | — | — | 145 | 145 | 145 | 147 | +0.5% | ||||||
| Valuation, × | |||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 29.29 | 7.3 | |||||
| P/S | — | — | — | — | — | — | 0.73 | 0.73 | 0.89 | 16.51 | 4.7 | ||||||
| P/B | — | — | — | — | — | — | 0.44 | 0.44 | 0.71 | 21.24 | 5.7 | ||||||
| EV/Sales | — | — | — | — | — | — | 0.62 | 0.62 | 0.94 | 16.30 | 4.6 | ||||||
| EV/FCF | — | — | — | — | — | — | (232.42) | (232.42) | (57.86) | 28.72 | (123.5) | ||||||
| Cash, $m | |||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | — | (713) | (309) | 84 | 11,671 | n/m | |||||
| Capex | — | — | — | — | — | — | (219) | (29) | (204) | (177) | (6.9%) | ||||||
| Free cash flow | — | — | — | — | — | — | (932) | (338) | (120) | 11,494 | n/m | ||||||
| Balance, $m | |||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | — | 1,425 | 3,659 | 7,199 | +124.8% | |||||
| Net debt | — | — | — | — | — | — | — | (328) | 368 | (4,762) | +281.0% | ||||||
| Shareholders’ equity | — | — | — | — | — | — | — | 11,082 | 9,216 | 15,736 | +19.2% | ||||||
| Returns, % | |||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | — | 0.00 | (9.95) | (12.39) | 64.43 | +64.4 pt | |||||
| ROIC | — | — | — | — | — | — | 0.00 | (2.72) | (8.98) | 70.56 | +70.6 pt | ||||||
| ROE | — | — | — | — | — | — | 0.00 | 0.00 | (16.17) | 91.64 | +91.6 pt | ||||||
| People | |||||||||||||||||
| People | Employees | — | — | — | — | — | — | — | — | 11,000 | 11,100 | +0.9% | |||||
| Revenue/emp, $m | — | — | — | — | — | — | 0.00 | 0.00 | 0.67 | 1.82 | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Jun 2026 · latest quarter Jun 2026
Business profile
Where the money comes from and where it goes Fiscal 2026
| Reportable Segment | 20,248 | 100.00% |
|---|---|---|
| Gross margin | 71.47% | |
| Operating margin | 61.19% | |
| Pre-tax margin | 64.29% |
Sandisk Corporation vs peers in Computer Hardware (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| DELL Dell Technologies Inc. | $302.3B | 24.3× | 17.5× | +57.75% (above 0%: growing) | +277.06% (above 0%: growing) | −47.22% (below 0%: shrinking) | 20.93% | 11.46% | Compare |
| ANET Arista Networks, Inc. | $232.3B | 52.7× | 44.3× | +37.69% (above 0%: growing) | +35.21% (above 0%: growing) | −10.44% (below 0%: shrinking) | 62.93% | 45.39% | Compare |
| SNDK Sandisk Corporation | $192.2B | 14.8× | 5.2× | +371.59% (above 0%: growing) | n/m | +14,355.10% (above 0%: growing) | 84.57% | 78.49% | |
| STX Seagate Technology Holdings PLC | $159.3B | 44.5× | 16.3× | +48.49% (above 0%: growing) | +150.00% (above 0%: growing) | +163.06% (above 0%: growing) | 52.30% | 42.96% | Compare |
| WDC Western Digital Corporation | $148.0B | 13.5× | 15.1× | +43.84% (above 0%: growing) | +1,070.51% (above 0%: growing) | +89.78% (above 0%: growing) | 54.12% | 41.71% | Compare |
| P Everpure, Inc. | $45.7B | 168× | 130× | +37.73% (above 0%: growing) | +57.14% (above 0%: growing) | −258.26% (below 0%: shrinking) | 68.42% | 5.33% | Compare |
| HPQ HP Inc. | $28.7B | 10.9× | 11.2× | +12.53% (above 0%: growing) | −11.11% (below 0%: shrinking) | +7.05% (above 0%: growing) | 18.79% | 5.69% | Compare |
| SMCI Super Micro Computer, Inc. | $22.6B | 9.2× | 7.2× | +93.16% (above 0%: growing) | +454.55% (above 0%: growing) | −12.95% (below 0%: shrinking) | 17.47% | 13.38% | Compare |
| IONQ IonQ, Inc. | $13.6B | — (loss-making) | — (loss-making) | +286.83% (above 0%: growing) | n/m | −110.77% (below 0%: shrinking) | 24.91% | (421.29%) | Compare |
| Median of peers | $96.9B | 24.3× | 16.3× | +46.17% | +150.00% | −11.69% | 38.61% | 12.42% |
From the latest earnings call
- Luis said signed new business models with eight customers are expected to represent more than 50% of Sandisk’s bits in fiscal 2027.
- Luis said Sandisk expects Q1 FY2027 revenue of $10.3 billion to $10.8 billion, supported by bit growth and higher pricing.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
75.15%
Held by the ten largest
41.01%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| Vanguard | 14.76m | 10.11% | +150.93k |
| BlackRock | 10.30m | 7.05% | −108.15k |
| Fidelity (FMR) | 7.86m | 5.38% | −5.53m |
| State Street | 5.93m | 4.06% | +353.60k |
| Invesco | 5.61m | 3.84% | +4.45m |
| JPMorgan Chase | 3.94m | 2.70% | +2.51m |
| Geode Capital Management | 3.59m | 2.46% | −621.27k |
| Clear Street Group Inc. | 2.98m | 2.04% | +1.76m |
| Situational Awareness LP | 2.50m | 1.71% | +1.36m |
| Morgan Stanley | 2.40m | 1.64% | −438.64k |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 6 October 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2026 | 10.46m | 2.70b | 3,464.00 |
| 2025 | 22.92m | 40.78m | 94.00 |
Ownership
Directors and executive officers, together
less than 1%
Vanguard Capital Management
7.60%
BlackRock, Inc.
6.10%
FMR LLC
5.40%
Jane Street Group, LLC
5.10%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
Sandisk Corporation (SNDK) Latest News
1 Nov
31 Oct
30 Oct
29 Oct
SNDK metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Shares outstanding
- Book value per share
- Revenue growth
Sandisk makes NAND flash memory and storage products. Flash memory retains data when power is switched off. Sandisk sells it both as components and as finished products, including solid-state drives, embedded storage, memory cards and USB drives.
The company serves three end markets. Datacenter products include enterprise solid-state drives, or SSDs, used in servers for applications such as online transactions, data analysis and artificial intelligence workloads. Edge products are built into devices such as PCs, phones, gaming consoles, cars and industrial equipment. Consumer products include portable SSDs, removable cards and USB drives sold through retail and other channels.