FirmAtlas
Company handbook · SNDK · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-16
SNDK · CIK 2023554 · LATEST FILING: 10-K FY26 · FILED AUG 17, 2026
Sandisk Corporation
$1,299.30
−95.53 (−6.85%)
Close, Oct 16, 2026 · 52-week $136–2,354
Last fiscal year
Sandisk Corporation reported revenue of $20.2B for the year ended Jul 3, 2026 (FY26), up 175.3% from FY25. Net income was $11.4B, operating cash flow $11.7B and free cash flow $11.5B. Source: 10-K filed Aug 17, 2026.
Market cap
$189.7B
P/E
16.6
EV/EBITDA
14.8x
P/B
12.1
ROIC
105.8%
Revenue 1Y
175.3%/yr
EPS 1Y
n/m
Shares 1Y
+0.0%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEODavid V. Goeckeler
HQMilpitas, CA
AuditorKPMG LLP
Employees11,100
Year endsJune
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
—
—
—
800.6%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY25–FY26
$4.9B deployed
Capex
$381M
7.8%
Buybacks
$4.5B
92.2%
Operating cash flow over the period: $11.8B. Total debt changed by −$1.9B. R&D of $2.5B is already inside operating costs.
More cash than debt at the end of FY26.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · FY26 = year ended Jul 3, 2026 · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
Income
Revenue
7,355
20,248+175.3%
YoY
+175.3%
Gross profit
2,212
14,472+554.2%
Gross margin
30.1%
71.5%+41.4 pp
Operating income
(1,377)
12,389n/m
Operating margin
−18.7%
61.2%+79.9 pp
EBITDA
(1,214)
12,538n/m
EBITDA margin
−16.5%
61.9%+78.4 pp
Interest expense
63
73+15.9%
Interest coverage
−19.27x
171.75x+191.02x
Net income
(1,641)
11,433n/m
YoY
n/m
Net margin
−22.3%
56.5%+78.8 pp
EPS (diluted, $)
−11.32
73.76n/m
YoY
n/m
Balance sheet
Total assets
12,985
22,507+73.3%
Cash & short-term investments
1,481
4,762+221.5%
Accounts receivable
1,068
4,708+340.8%
Inventory
2,079
2,698+29.8%
Net PP&E
619
674+8.9%
Other assets
7,738
9,665+24.9%
Total liabilities
3,769
6,771+79.6%
Total debt
1,869
0−100.0%
Other liabilities
1,900
6,771+256.4%
Shareholders’ equity
9,216
15,736+70.7%
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
84
11,671+13794.0%
Net income
(1,641)
11,433n/m
Depreciation & amortization
163
149−8.6%
Stock-based compensation
182
232+27.5%
Working capital & other
1,380
(143)−110.4%
Cash from investing
556
(1,386)−349.3%
Capex
(204)
(177)n/m
PP&E sold
0
0n/m
Other investing
760
(1,209)−259.1%
Cash from financing
518
(7,001)−1451.5%
Debt raised
1,970
0−100.0%
Debt repaid
(100)
(1,900)n/m
Buybacks
0
(4,524)n/m
Other financing
(1,352)
(577)n/m
Net change in cash
1,153
3,281+184.6%
Free cash flow (OCF − capex)
(120)
11,494n/m
Where the cash went
Operating cash flow
84
11,671+13794.0%
Reinvested in the business
204
177−13.2%
% of operating cash flow
242.9%
1.5%
Capex
204
177−13.2%
R&D (memo, already in costs)
1,132
1,328+17.3%
Free cash flow
(120)
11,494n/m
YoY
n/m
Returned to shareholders
0
4,524n/m
% of free cash flow
—
39.4%
Buybacks
0
4,524n/m
Change in total debt
—
(1,869)
Cash left over
—
5,101
FCF conversion (FCF ÷ net income)
—
100.5%
Owner earnings
—
7,146
Owner earnings margin
—
35.3%
Returns & ratios
ROIC (all capital)
−14.3%
105.8%+120.1 pp
ROIC (operating)
−36.6%
183.7%+220.3 pp
Net debt / EBITDA
—
−0.38x
Debt / equity
0.20x
0.00x−0.20x
ROE
−17.8%
72.7%+90.5 pp
ROA
−12.6%
50.8%+63.4 pp
ROCE
−11.9%
73.2%+85.1 pp
NOPAT
(1,377)
10,881n/m
Invested capital (operating)
3,766
8,080+114.6%
Invested capital (all)
9,604
10,974+14.3%
Reinvestment rate
—
39.6%
Debtor days
53
85+32 d
Inventory days
148
170+23 d
Income
Oct '25
Jan '26
Apr '26
Jul '26
Revenue
2,308
3,025
5,950
8,965
vs year-ago quarter
Gross profit
687
1,541
4,662
7,582
Gross margin
29.8%
50.9%
78.4%
84.6%
Operating income
176
1,065
4,111
7,037
Net income
112
803
3,615
6,903
vs year-ago quarter
Net margin
4.9%
26.5%
60.8%
77.0%
EPS (diluted, $)
0.75
5.15
23.03
47.28
vs year-ago quarter
Balance sheet
Oct '25
Jan '26
Apr '26
Jul '26
Total assets
12,749
12,998
17,075
22,507
Cash & equivalents
1,442
1,539
3,735
4,762
Total debt
1,371
623
0
0
Shareholders’ equity
9,381
10,213
13,777
15,736
Cash flow
Oct '25
Jan '26
Apr '26
Jul '26
Operating cash flow
488
1,019
3,038
7,126
Capex
50
39
45
43
Free cash flow
438
980
2,993
7,083
vs year-ago quarter