Overview
Sandisk Corp
Latest 10-K: FY2026, filed Aug 17, 2026 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $20.25B
- 175.3%YoYup from FY2025
- TotalRevenue
- Gross profit
- $14.47B
- 554.2%YoYup from FY2025
- GrossProfit
- Operating income
- $12.39B
- n/mYoY
- OperatingIncome
- Net income
- $11.43B
- n/mYoY
- NetIncome
- Diluted EPS
- $73.76
- n/mYoY
- EPSDiluted
- Diluted shares
- 155.0M
- 6.9%YoYup from FY2025
- WeightedAvgSharesDiluted
At a glance
Growth
- Sandisk Corp reported revenue of $20.25B for fiscal 2026, up 175.3% from fiscal 2025.
- Revenue grew faster than the median S&P 500 member in 2 of the last 2 fiscal years.
Profitability
- Operating margin was 61.2% and net margin was 56.5%.
Per share
- Diluted EPS was $73.76.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 31, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
4 annual periodsChip: YoY change.
| Line item | FY2026 | FY2025 | FY2024 | FY2023 | 3Y CAGR |
|---|---|---|---|---|---|
| Revenue | $20.25B175.3%up | $7.36B10.4%up Benchmark median 6.4% | $6.66B9.5%up Benchmark median 4.5% | $6.09B Benchmark median 4.8% | 49.3% |
| Gross Profit Median of 315 / 498 | $14.47B554.2%up | $2.21B106.3%up Benchmark median 6.8% | $1.07B149.3%up Benchmark median 5.5% | $0.43B Benchmark median 5.2% | 222.9% |
| Operating Income Median of 373 / 498 | $12.39Bn/m | negative: -$1.38Bn/m Benchmark median 7.3% | negative: -$0.47Bn/m Benchmark median 7.4% | negative: -$2.04B Benchmark median 4.9% | n/m |
| Net Income | $11.43Bn/m | negative: -$1.64Bn/m Benchmark median 4.8% | negative: -$0.67Bn/m Benchmark median 5.7% | negative: -$2.14B Benchmark median 1.9% | n/m |
| EPS (Diluted) | $73.76n/m | negative: -$11.32n/m Benchmark median 6.2% | negative: -$4.63n/m Benchmark median 7.9% | negative: -$14.78 Benchmark median 1.9% | n/m |
Balance Sheet
4 annual periodsChip: YoY change.
| Line item | FY2026 | FY2025 | FY2024 | FY2023 | 3Y CAGR |
|---|---|---|---|---|---|
| Total Assets | $22.51B73.3%up | $12.98B3.9%down Benchmark median 5.6% | $13.51B Benchmark median 3.4% | — | — |
| Total Liabilities Median of 357 / 498 | $6.77B79.6%up | $3.77B55.5%up Benchmark median 6.4% | $2.42B Benchmark median 1.9% | — | — |
| Stockholders' Equity | $15.74B70.7%up | $9.22B16.8%down Benchmark median 6.8% | $11.08B3.1%down Benchmark median 5.4% | $11.44B Benchmark median 7.3% | 11.2% |
| Cash & Equivalents | $4.76B221.5%up | $1.48B351.5%up Benchmark median 5.2% | $0.33B Benchmark median 1.9% | — | — |
| Total Debt | $0.00B100.0%down | $1.85Bn/m Benchmark median 2.1% | $0.00B Benchmark median 0.2% | — | — |
Cash Flow Statement
4 annual periodsChip: YoY change.
| Line item | FY2026 | FY2025 | FY2024 | FY2023 | 3Y CAGR |
|---|---|---|---|---|---|
| Operating Cash Flow | $11.67B13794.0%up | $0.08Bn/m Benchmark median 6.3% | negative: -$0.31Bn/m Benchmark median 4.8% | negative: -$0.71B Benchmark median 9.9% | n/m |
| Capital Expenditures | $177.00M13.2%down | $204.00M22.9%up Benchmark median 5.4% | $166.00M24.2%down Benchmark median 2.8% | $219.00M Benchmark median 11.3% | -6.9% |
| Free Cash Flow Median of 378 / 498 | $11.49Bn/m | negative: -$0.12Bn/m Benchmark median 7.3% | negative: -$0.47Bn/m Benchmark median 6.1% | negative: -$0.93B Benchmark median 8.8% | n/m |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2026Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
4.2%
Wall Street
on net earnings
FY2025 n/m
4.2%
Value investor
on free cash flow
FY2025 negative: −1.8%
Gap Same: Both views read the same
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 23.7×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Enterprise yield
What a dollar of enterprise value earned
4.7%
Wall Street
on EBITDA
FY2025 — Not reported
4.7%
Value investor
on EBIT
FY2025 — Not reported
Gap Same: Both views read the same
How it’s calculated
Wall Street · on EBITDA
EBITDA ÷ enterprise value (1 ÷ EV/EBITDA)
ev_ebitda (ratio table)
EV/EBITDA 21.2×Value investor · on EBIT
Operating income (EBIT) ÷ enterprise value: depreciation counts as a real cost
operating income ÷ (ev_ebitda × ebitda)
Valuation · Book yield
Net assets behind a dollar of market value
5.8%
Wall Street
on book equity
FY2025 134.8%
4.0%
Value investor
on tangible book
FY2025 61.7%
Gap −1.8 pts: Value-investor figure 1.8 points lower
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 17.2×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
91.6%
Wall Street
ROE: net income ÷ equity
FY2025 negative: −16.2%
89.6%
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2025 negative: −10.8%
Gap −2.0 pts: Value-investor figure 2.0 points lower
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
61.9%
Wall Street
EBITDA margin
FY2025 negative: −16.5%
56.8%
Value investor
Free-cash-flow margin
FY2025 negative: −1.6%
Gap −5.1 pts: Value-investor figure 5.1 points lower
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Liquidity
Short-term assets per dollar of bills due within a year
2.29×
Wall Street
Current ratio
FY2025 3.56×
1.81×
Value investor
Quick ratio, inventory excluded
FY2025 2.11×
Gap −0.48×: Value-investor figure 0.48 lower
How it’s calculated
Wall Street · Current ratio
Current assets ÷ current liabilities
current_ratio (ratio table)
Value investor · Quick ratio, inventory excluded
(Current assets − inventory) ÷ current liabilities
quick_ratio (ratio table)
Balance sheet · Debt cover
How many times one year of earnings repays all debt
No debt
Wall Street
EBITDA ÷ total debt
FY2025 negative: −0.66×
No debt
Value investor
FCF ÷ total debt
FY2025 negative: −0.06×
How it’s calculated
Wall Street · EBITDA ÷ total debt
EBITDA ÷ total debt (short-term + long-term)
ebitda ÷ total debt
Net cashValue investor · FCF ÷ total debt
Free cash flow ÷ total debt: what is actually left to repay it
free cash flow ÷ total debt
Balance sheet · Interest cover
How many times earnings pay the year's interest
171.8×
Wall Street
EBITDA ÷ interest
FY2025 negative: −19.3×
169.7×
Value investor
EBIT ÷ interest
FY2025 negative: −21.9×
Gap −2.1×: Value-investor figure 2.1 lower
How it’s calculated
Wall Street · EBITDA ÷ interest
EBITDA ÷ interest expense
ebitda_interest_coverage (ratio table)
Value investor · EBIT ÷ interest
Operating income ÷ interest expense
interest_coverage (ratio table)
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 4 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on SNDK yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on SNDK and publish the result to your public profile.
Cite this page
Data as of Oct 31, 2026. Canonical address: https://valuein.biz/data/SNDK
Valuein. (2026, October 31). Sandisk Corp (SNDK) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/SNDK
@misc{valuein_sndk_2026,
author = {{Valuein}},
title = {Sandisk Corp (SNDK) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/SNDK}},
note = {Data as of 2026-10-31; source: SEC EDGAR filings}
}10-K filed Aug 17, 2026 · accession 0001628280-26-057406
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