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Sandisk (SNDK) Stock Fundamentals, Analysis & Risk Signals

Health score, competitive moat, risk signals, and key metrics at a glance.

NasdaqGS•Technology•Computer Hardware
B
GoodMetricSide Score: 71/100
ProfitabilityProfit30/30
GrowthGrowth13/25
Balance SheetBalance17/25
Cash QualityCash11/20
Price & Volume
Market Cap $258.26B

Sandisk Corporation develops, manufactures, and sells data storage devices and solutions using NAND flash technology in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company offers solid state drives for desktop and notebook PCs, gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs and other portable and wearable devices, automotive applications, Internet of Things, industrial, and connected home applications, as well as removable cards, universal serial bus drives, and wafers and components. It sells its products to computer manufacturers and original equipment manufacturers, datacenters, private cloud customers, cloud service providers, resellers, distributors, and retailers through its sales personnel, dealers, distributors, retailers, and subsidiaries. Sandisk Corporation was incorporated in 2024 and is based in Milpitas, California.

Moat Signals

Competitive analysis based on 6 quarters of fundamental data

Pricing Power

Weak Moat

Operating margins are under pressure, averaging 3.3%. The business may lack pricing power or face rising costs.'

Competitive Advantage

Weak Moat

ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.

Cash Generation

Weak Moat

Only 4 of the last 6 quarters had positive FCF — the business may require external capital to sustain operations.

Demand Durability

Weak Moat

Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.

Risk Signals

Data-driven red flags and warnings across 6 quarters

Some Concerns

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.

Leverage Risk

Healthy

D/E ratio is 0.1 — conservative capital structure with low financial risk.

Revenue Decline

Healthy

Revenue is stable or growing over recent quarters — demand appears durable.

Cash Burn

Watch

FCF turned negative in 2 of the last 6 quarters — occasional cash consumption.

Share Dilution

Healthy

Share count is stable — no significant dilution or buyback activity.

Metrics at a Glance

as of April 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue
$15.07B
Q. Revenue
$5.95B
TTM EBITDA
$5.94B
TTM Op. Income
$5.66B
Q. Op. Income
$4.11B
TTM Net Income
$4.72B
Q. Net Income
$3.62B
EPS
$24.43
Shares Out.
$148.00M
2.1%
$15.07B in TTM revenue grew Infinity% YoY, reaching $5.95B last quarter. TTM EBITDA of $5.94B and TTM operating income of $5.66B shows growth is flowing through. Net income of $4.72B TTM confirms the company is converting revenue into profit. Revenue is growing at a healthy pace — a signal to hold.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin
78.4%
247.7%
EBITDA Margin
69.7%
Op. Margin
69.1%
162.3%
Net Margin
60.8%
153.3%
Op. margin of 69.1% is up 180.1% YoY — cost efficiency is improving. Net margin at 60.8% and gross margin of 78.4% — earnings take a bigger bite when COGS stays lean..

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio
54.7x
P/S Ratio
17.1x
P/B Ratio
18.7x
At 54.7x P/E, the stock trades at a premium — the market expects above-average growth. P/S of 17.1x and P/B of 18.7x provide additional context. Assess whether the current multiple is justified by the company's growth and profitability trajectory.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets
$17.07B
Cash
$3.73B
Long-Term Debt
N/A
Book Value
$13.78B
D/E Ratio
N/A
Debt/EBITDA
0.0

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow
$3.04B
Free Cash Flow
$2.99B
16727.8%
FCF Margin
19.9%
FCF / Net Income
0.8
FCF of $2.99B on $3.04B in operating cash flow. The FCF / Net Income ratio of 0.6x indicates partial cash conversion — earnings quality needs attention.

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