Sandisk Corporation (SNDK) financials

NASDAQ · Technology · Computer Hardware · 11,100 employees · CEO David V. Goeckeler

Price: $1,150.89 -13.47%
Market cap: $166B
Enterprise value: $161B
Last report: Q1 '27 filed 2026-10-30
Next report: 2027-02-04 EPS est. $55.95

Revenue (TTM)$29B+272.4% vs a year agoLast 4 quarters; bars = each quarter

Operating margin (TTM)72.5%+67.8 pp vs a year agoOperating income $21B

Net income (TTM)$19.4B+1,216.2% vs a year agoAfter tax, incl. non-operating gains

Free cash flow (TTM)$17.4B+3,265.3% vs a year agoCapex $181M

Diluted EPS (TTM)$125.61+1,145.0% vs a year agoSum of the last 4 quarters

Net cash$4.94B+5,187.6% vs a year agoCash + short-term investments - debt

Valuation & key figures

Market cap: $166B
Revenue: $29B
Revenue growth: +146%
Profit margin: 67.0%
P/E: 8.7×
P/S: 5.7×
EV / EBITDA: 7.4×
Free cash flow: $17.4B
Net income: $19.4B
Revenue estimate: $49.8B
Earnings: 2027-02-04
Dividend: –

Key takeaways

Computed from the reported numbers - every statement carries the figure it rests on.

Last report (2026-10-29): revenue beat by 2.9%, EPS beat by 6.1%Revenue $11B vs $10.7B expected (+2.9%); EPS $49.51 vs $46.67 (+6.1%).
Revenue growth accelerating: 377.9% year on yearQ1 '27 revenue $11B, against an average of 176.6% over the four quarters before.
Operating margin 72.5% (TTM), +67.8 pp on a year agoOperating income grew 5,686.0% while revenue grew 272.4%.
Capex 0.6% of revenue (a year ago 2.4%)$181M invested in the last 4 quarters (-3.2% on a year earlier). Free cash flow $17.4B = 89.4% of net income.
Returned $9.52B to shareholders = 54.8% of free cash flowBuybacks $9.52B (a year earlier $0), dividends $0, stock-based pay $270M (TTM).
Diluted share count up 3.4% in a year154M diluted shares in Q1 '27, 149M a year earlier.
Net cash $4.94BCash + short-term investments $5.14B, debt incl. leases $201M; a year ago net debt $97M.

Last quarter: Q1 '27

Quarter ended 2026-10-02. Compared with the same quarter a year earlier and with the analyst consensus before the report.

Quarter vs a year ago

	Q1 '27	Year ago	Change
Revenue	$11B	$2.31B	+377.9%
Gross margin	85.0%	29.8%	+55.2 pp
Operating income	$8.78B	$192M	+4,472.9%
Operating margin	79.6%	8.3%	+71.3 pp
Net income	$8.1B	$112M	+7,133.0%
Diluted EPS	$52.60	$0.75	+6,913.3%
Operating cash flow	$6.36B	$488M	+1,203.9%
Capex	$54M	$50M	+8.0%
Free cash flow	$6.31B	$438M	+1,340.4%
R&D	$384M	$316M	+21.5%
Stock-based compensation	$91M	$53M	+71.7%

Reported vs consensus

2026-10-29

	Actual	Consensus	vs consensus
Revenue	$11B	$10.7B	+2.9%
EPS (as estimated)	$49.51	$46.67	+6.1%

From the report of 2026-10-29 for Q1 '27: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.

EPS vs consensus

last 8 reports

Revenue

Where the money comes from - by business line and by region, quarter by quarter.

Revenue, operating income and growth

quarterly

Revenue by business line

stacked, quarterly

Segment	Q1 '27	y/y	Share	TTM	TTM y/y
Edge	–	–	–	–	–
Datacenter	$4.8B	–	92.4%	–	–
Client Devices	–	–	–	–	–
Consumer	$397M	–	7.6%	–	–
Cloud	–	–	–	–	–

Revenue by region

share of total

Segment	Q1 '27	y/y	Share	TTM	TTM y/y
Asia	$7.22B	–	65.4%	–	–
Americas	$3.26B	–	29.5%	–	–
EMEA	$558M	–	5.1%	–	–

Segment profits

Operating income per reported segment, read from the segment note of each 10-Q / 10-K (the profit split most data feeds leave out).

Segments in Q1 '27

Segment	Revenue	y/y	Operating income	y/y	Margin	Margin a year ago	TTM operating income
Reportable Segment	$11B	–	$8.78B	–	79.6%	–	–

Operating income by segment

quarterly

Segment operating margin

quarterly

Margins & cost structure

How much of each unit of revenue is left at each level - and where the costs go.

Margins

quarterly

Costs as % of revenue

quarterly

Cash flow & capital allocation

Cash generated, what it is spent on, and what reaches shareholders.

Operating cash flow, capex, free cash flow

quarterly

Uses of cash vs operating cash flow

fiscal years

Last 4 quarters

cash flow statement

Operating cash flow: $17.5B
Capex: -$181M
Buybacks: -$9.52B
Dividends: $0
Acquisitions: -$25M
Net debt issued: -$1.4B
Stock-based compensation: $270M
Free cash flow: $17.4B
Returned to shareholders / FCF: 54.8%

Share count and EPS

quarterly, diluted

Balance sheet

Liquidity, investments and debt at each quarter end.

Cash, investments and debt

quarter ends

Valuation & returns

Today's multiples against the company's own last five fiscal years; analyst targets and ratings.

Multiples and returns

TTM vs 5 fiscal years

	Now	5y average	Where today sits in the 5-year range
P/E (TTM)	8.7×	13.7× 2 of 5 years	4.9× – 22.4×
EV / EBITDA	7.4×	11.2× 2 of 5 years	3.3× – 19.0×
EV / Sales	5.6×	3.2×	0.6× – 12.5×
Price / FCF	9.6×	14.7× 2 of 5 years	7.0× – 22.3×
Price / Book	9.3×	3.7×	0.4× – 16.3×
FCF yield	10.4%	-2.0%	-18.0% – 14.3%
Return on invested capital	92.4%	7.9%	-16.2% – 64.3%
Return on equity	134.3%	7.7%	-18.7% – 72.7%

Analysts

Consensus target $2,267.86 (+97.1%)
range $1,550.00 – $3,050.00 · rating Buy

Strong buy0

Buy15

Hold2

Sell0

Strong sell0

Outlook

Analyst consensus for the coming fiscal years and what it implies at today's price.

Consensus estimates

Fiscal year	Revenue	Growth	EPS	Growth	P/E at today's price	Analysts (EPS)
FY2027	$49.8B	+146.0%	$224.31	+204.1%	5.1×	9
FY2028	$61.1B	+22.7%	$290.77	+29.6%	4.0×	12
FY2029	$62.8B	+2.8%	$310.11	+6.7%	3.7×	4
FY2030	$71.7B	+14.1%	$297.84	-4.0%	3.9×	1

Financial statements

Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.

Income statementRevenue, costs, operating income, net income and EPSOpen Balance sheetCash, investments, assets, debt, liabilities and equityOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Every reported line

All 268 figures Sandisk Corporation tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).

Line (SEC label)	Latest quarter	Year ago	y/y	Latest FY	Prior FY	y/y
	–	–	–	$8M	–	–
	–	–	–	0.0%	–	–
	–	–	–	$725M	–	–
	–	–	–	$147M	–	–
	–	–	–	1.0%	–	–
	$2.29B	–	–	$1.78B	$0	–
	$2.29B	–	–	$1.78B	$0	–
	–	–	–	$36M	–	–
	–	–	–	$4M	–	–
	–	–	–	$970M	$0	–
	$47M	$0	–	$37M	$0	–
	$14B2026-08-05	–	–	$6B2026-04-30	–	–
Accounts Receivable, after Allowance for Credit Loss, Current	$6.59B	$1.19B	+452.0%	$4.71B	$1.07B	+340.8%
Accrued Income Taxes, Current	$1.52B	$22M	+6,790.9%	$1.29B	$43M	+2,890.7%
Accrued Income Taxes, Noncurrent	$431M	$112M	+284.8%	$258M	$131M	+96.9%
Accrued Liabilities, Current	$329M	$382M	-13.9%	$313M	$274M	+14.2%
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$1.56B	$1.53B	+2.0%	$1.54B	$1.51B	+2.0%
Accumulated Other Comprehensive Income (Loss), Net of Tax	-$248M	-$234M	-6.0%	-$256M	-$249M	-2.8%
Additional Paid in Capital	$10.2B	$11.3B	-9.5%	$10.9B	$11.2B	-3.3%
Advertising Expense	–	–	–	$55M	$29M	+89.7%
Amortization of Debt Issuance Costs and Discounts	$1M	–	–	$7M	$3M	+133.3%
Amortization of Intangible Assets	–	–	–	$133M2023-06-30	–	–
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	100K2026-04-03	2M	-95.0%	2M2025-06-27	0	–
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	$91M	–	–	$232M	$182M	+27.5%
Assets	$25.8B	$12.7B	+102.3%	$22.5B	$13B	+73.3%
Assets, Current	$15.4B	$4.98B	+208.0%	$12.8B	$5.09B	+151.3%
Assets, Fair Value Disclosure	$4.55B	–	–	$4.65B	$768M	+504.9%
Capital Expenditures Incurred but Not yet Paid	$20M	–	–	$56M	$10M	+460.0%
Cash and Cash Equivalents, at Carrying Value	$5.14B	$1.44B	+256.2%	$4.76B	$1.48B	+221.5%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$5.14B	$1.44B	+256.2%	$4.76B	$1.48B	+221.5%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$374M	–	–	$3.28B	$1.15B	+184.6%
Common Stock, Par or Stated Value Per Share	$0.01	$0.01	0.0%	$0.01	$0.01	0.0%
Common Stock, Shares Authorized	450M	450M	0.0%	450M	450M	0.0%
Common Stock, Shares, Issued	150M	147M	+2.0%	149M	146M	+2.1%
Common Stock, Shares, Outstanding	144M	147M	-2.0%	146M	146M	0.0%
Common Stock, Value, Issued	$2M	$1M	+100.0%	$1M	$1M	0.0%
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$8.11B	–	–	$11.4B	-$1.43B	+900.1%
Contract with Customer, Liability	$1.5B	–	–	$1.24B	$25M	+4,868.0%
Contract with Customer, Liability, Cumulative Catch-up Adjustment to Revenue, Change in Estimate of Transaction Price	$1.5B	–	–	$1.1B	–	–
Contract with Customer, Liability, Current	$777M	–	–	$849M	$25M	+3,296.0%
Contract with Customer, Liability, Noncurrent	$752M	–	–	$393M	$0	–
Contract with Customer, Liability, Revenue Recognized	$281M	–	–	$23M	–	–
Contract with Customer, Refund Liability	$1.5B2026-07-03	$126M	+1,090.5%	$1.5B	$126M	+1,090.5%
Contract with Customer, Refund Liability, Current	$1.6B	–	–	$1.5B	$126M	+1,090.5%
Cost of Goods and Services Sold	$1.65B	–	–	$5.78B	$5.14B	+12.3%
Current Federal Tax Expense (Benefit)	–	–	–	$1.2B	$7M	+17,000.0%
Current Foreign Tax Expense (Benefit)	–	–	–	$249M	$165M	+50.9%
Current Income Tax Expense (Benefit)	–	–	–	$1.46B	$174M	+741.4%
Current State and Local Tax Expense (Benefit)	–	–	–	$18M	$2M	+800.0%
Debt Instrument, Fair Value Disclosure	$654M2026-01-02	–	–	$2B2025-06-27	–	–
Debt Issuance Costs, Net	$02026-07-03	$51M	-100.0%	$0	$51M	-100.0%
Deferred Federal Income Tax Expense (Benefit)	–	–	–	$147M	$1M	+14,600.0%
Deferred Foreign Income Tax Expense (Benefit)	–	–	–	-$29M	-$13M	-123.1%
Deferred Income Tax Assets, Net	$69M	$57M	+21.1%	$66M	$58M	+13.8%
Deferred Income Tax Expense (Benefit)	-$20M	–	–	$120M	-$12M	+1,100.0%
Deferred Income Tax Liabilities, Net	$144M	$28M	+414.3%	$161M	$17M	+847.1%
Deferred State and Local Income Tax Expense (Benefit)	–	–	–	$2M	$0	–
Deferred Tax Assets, Gross	$266M2026-07-03	$204M	+30.4%	$266M	$204M	+30.4%
Deferred Tax Assets, Hedging Transactions	$02026-07-03	$15M	-100.0%	$0	$15M	-100.0%
Deferred Tax Assets, Net	–	–	–	$41M2025-06-27	$81M	-49.4%

Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.

Sources

Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-10-02, 10-K 2026-07-03, 10-Q 2026-04-03, 10-Q 2026-01-02, 10-Q 2025-10-03, 10-K 2025-06-27, 10-Q 2025-03-28, 10-Q 2024-12-27

Data as of 2026-11-01