Sandisk CorporationSNDK
NasdaqGS•Technology•Computer Hardware
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.
Sandisk Corporation (SNDK) reported trailing twelve months revenue of $15.07B as of April 2026, a Infinity% increase year-over-year. Quarterly revenue reached $5.95B, reflecting continued top-line momentum.
Sandisk Corporation generated $4.72B in TTM net income, with quarterly EBITDA of $4.15B. The operating margin expanded from -111.0% to 69.1%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (69.1%) and net margin (60.8%) indicates moderate non-operating costs. Net margin has improved from -114.0% a year ago, signaling stronger bottom-line efficiency.
SNDK trades at a P/E of 22.0x (in line with broad market averages) and a P/S of 6.9x. The price-to-book ratio of 7.5x indicates a significant premium over book value.
The company generated $2.99B in free cash flow over the trailing twelve months, a 16727.8% increase year-over-year, indicating cash generation ability. The balance sheet shows $17.07B in total assets with no in long-term debt against $13.78B in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 6 quarters of fundamental data
Operating margins are under pressure, averaging 3.3%. The business may lack pricing power or face rising costs.'
ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.
Only 4 of the last 6 quarters had positive FCF — the business may require external capital to sustain operations.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 6 quarters
The company posted negative operating margins in recent quarters — core operations are unprofitable.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
D/E ratio is 0.1 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
FCF turned negative in 2 of the last 6 quarters — occasional cash consumption.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation