Gross margin
71.5% Fiscal year 2026
Rank 83 of 100: higher than 83% of 153 peers (All). strong.
Rank 78 of 100: higher than 78% of 57 peers (Sector). strong.
Median Technology: 56.1%
Share of revenue left after the direct cost of the products sold.
Sandisk was spun off from Western Digital in 2025 and is once again an independent company. It develops and sells flash storage, such as SSDs for data centers and PCs, memory cards and USB drives. It manufactures the memory chips together with Kioxia in Japan. As of Oct 12, 2026
According to the company, Sandisk is a maker of NAND-based semiconductor storage and is vertically integrated from chip design and manufacturing to system technology. Until February 2025 the company was a subsidiary of Western Digital and has since been independent. Its offering includes solid-state drives, embedded storage, removable cards, flash drives as well as wafers and components. The business is divided into the end markets Datacenter, Edge and Consumer. The company obtains its flash memory from joint ventures with Kioxia at sites in Japan.
Automatically summarized from SEC annual report (10-K, filed Aug 17, 2026) (website of the US Securities and Exchange Commission) · reviewed Oct 15, 2026
Our own calculation from the exchange’s daily candles, as of Oct 27, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.
Growth, margin and debt compared with the sector – in detail in the fundamental analysis further down. The chart shows the candles without a buy zone.
Growth: greenMargin: greenDebt: green
Sandisk · Sector Technology · amounts in USD
Information only – does not affect the other analysis methods, not investment advice. Source: SEC filings, As of Aug 17, 2026.
Four angles on the annual figures. Each check counts how many disclosed criteria are met – criteria without data do not count. The bars show where the company ranks on each figure among the stocks we cover and within its sector.
Fiscal year to Jul 3, 2026
71.5% Fiscal year 2026
Rank 83 of 100: higher than 83% of 153 peers (All). strong.
Rank 78 of 100: higher than 78% of 57 peers (Sector). strong.
Median Technology: 56.1%
Share of revenue left after the direct cost of the products sold.
61.2% Fiscal year 2026
Rank 98 of 100: higher than 98% of 192 peers (All). strong.
Rank 98 of 100: higher than 98% of 60 peers (Sector). strong.
Median Technology: 14.2%
Operating income divided by revenue: what the core business earns before interest and taxes.
56.5% Fiscal year 2026
Rank 97 of 100: higher than 97% of 237 peers (All). strong.
Rank 96 of 100: higher than 96% of 63 peers (Sector). strong.
Median Technology: 12.5%
Profit after all costs, interest and taxes divided by revenue.
72.7% Fiscal year 2026
Rank 92 of 100: higher than 92% of 218 peers (All). strong.
Rank 88 of 100: higher than 88% of 61 peers (Sector). strong.
Median Technology: 13.5%
Net income divided by equity at fiscal year end.
50.8% Fiscal year 2026 (total assets at year end)
Rank 99 of 100: higher than 99% of 238 peers (All). strong.
Rank 96 of 100: higher than 96% of 63 peers (Sector). strong.
Median Technology: 5.9%
Net income divided by total assets at fiscal year end.
69.9% Fiscal year 2026
Rank 88 of 100: higher than 88% of 239 peers (All). strong.
Rank 82 of 100: higher than 82% of 63 peers (Sector). strong.
Median Technology: 51.6%
Equity as a share of total assets. Usually low for banks.
56.8% Fiscal year 2026
Rank 99 of 100: higher than 99% of 213 peers (All). strong.
Rank 99 of 100: higher than 99% of 62 peers (Sector). strong.
Median Technology: 19.0%
Free cash flow divided by revenue.
11.5B USD Fiscal year 2026
Operating cash flow minus capital expenditure on property and equipment.
+49.3% per year
Rank 92 of 100: higher than 92% of 230 peers (All). strong.
Rank 81 of 100: higher than 81% of 59 peers (Sector). strong.
Median Technology: +14.3%
Average growth per year over 3 fiscal years.
7 of 9 Fiscal year 2026
Rank 72 of 100: higher than 72% of 134 peers (All). strong.
Rank 70 of 100: higher than 70% of 44 peers (Sector). strong.
Median Technology: 6.0 of 9
Nine yes/no tests on profit, cash flow, debt, liquidity and efficiency compared with the prior year.
0.00 at fiscal year end
Rank 98 of 100: lower than 98% of 199 peers (All). strong.
Rank 98 of 100: lower than 98% of 54 peers (Sector). strong.
Median Technology: 0.41
Long-term financial debt divided by equity.
2.29 at fiscal year end
Rank 74 of 100: higher than 74% of 215 peers (All). strong.
Rank 55 of 100: higher than 55% of 63 peers (Sector). medium.
Median Technology: 2.02
Current assets divided by current liabilities.
+6.9% in 3 years
No rank: too few peers or not computed yet.
Change in diluted share count. Negative = share buybacks, positive = new shares.
Last fiscal year compared with the one before. Returns and revenue per total assets use total assets at the start of the year; leverage = long-term financial debt divided by total assets at year end; new shares via the average diluted share count.
Price-based criteria (P/E, dividend yield) are shown to signed-in users.
Computed automatically from SEC annual reports – not investment advice. Describes the reported figures; points are not a rating of the stock. Rank 0–100 against the 239 stocks we cover and against the sector (from 5 peers); the stronger side is always on the right.
Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.
No reported values for “Dividend per share” in this interval.
No reported values for “Dividend per share” in this interval.
Fiscal year 2026 (Jun 28, 2025 – Jul 3, 2026): Revenue 20.2B USD · Net income 11.4B USD · Net margin 56.5%
Where the money of a fiscal year goes and how margins, returns, balance sheet, cash flow and share count developed over up to 10 years. Each chart has one sentence saying what the trend shows.
Of 100 USD of revenue, 71.5 USD gross profit, 61.2 USD operating income and 56.5 USD net income remained.
| Item | Amount | of revenue |
|---|---|---|
| Revenue | 20.2B USD | 100.0% |
| Gross profit | 14.5B USD | 71.5% |
| Cost of revenue | 5.8B USD | 28.5% |
| Operating income | 12.4B USD | 61.2% |
| Research & development | 1.3B USD | 6.6% |
| Other operating expenses | 755.0M USD | 3.7% |
| Net income | 11.4B USD | 56.5% |
| Interest expense | 73.0M USD | 0.4% |
| Taxes & other (net) | 883.0M USD | 4.4% |
Taxes, interest and other items are not available separately in the SEC data; they are combined as the difference.
The operating margin rose in 3 years from −33.4% to 61.2%.
Gross marginOperating marginNet marginReturn on equity rose in 3 years from −18.7% to 72.7%.
Return on equityReturn on assetsThe equity ratio fell in 2 years from 82.1% to 69.9%.
EquityLong-term debt in USD Long-term debt, depending on the filing, includes the current portion or leases.The current ratio rose in 2 years from 1.67 to 2.29.
Current ratioFree cash flow rose in 3 years from −932.0M USD to 11.5B USD.
Operating cash flowCapital expenditureFree cash flow in USDThe share count rose in 3 years by 6.9% – more new shares were issued than repurchased (dilution).
Diluted share countFrom annual reports filed with the SEC (10-K, 20-F, 40-F) as first reported, share count adjusted for splits; obvious filing errors (e.g. wrong unit, outliers against both neighbouring years) are hidden. Describes the reported figures – not investment advice.
How much the company returns to its shareholders – as dividends or by repurchasing its own shares – and whether free cash flow supports it.
Over 3 years, 4.5B USD went back to shareholders, 100% of it through share repurchases. That is 42% of the free cash flow of those years.
Dividends paidShare repurchasesNew shares issued (including employee plans)Free cash flow in USDDividends paid, repurchases and new shares issued from the cash flow statement of annual reports filed with the SEC (as first reported). Describes the reported figures – not investment advice.
Price-based valuation (P/E, P/S, price/free cash flow and dividend yield per fiscal year, compared with its own average) for signed-in users. Log in
Sandisk next to 8 stocks of the sector Technology we cover that are closest in revenue. Click a column header to sort the table.
| Symbol | Revenue (FY) | Growth 5 yrs | Gross margin | Op. margin | Net margin | ROE | Equity ratio | FCF margin | Piotroski |
|---|---|---|---|---|---|---|---|---|---|
| AMAT Applied Materials | 28.4B USD | +10.5% | 48.7% | 29.2% | 24.7% | 34.3% | 56.2% | 20.1% | 6/9 |
| ADBE Adobe Inc. | 23.8B USD | +13.1% | 89.3% | 36.6% | 30.0% | 61.3% | 39.4% | 41.4% | 7/9 |
| LRCX Lam Research | 23.2B USD | +9.7% | 50.5% | 35.3% | 31.3% | 58.3% | 53.0% | 21.1% | 8/9 |
| APH Amphenol | 23.1B USD | +21.8% | 36.9% | 25.4% | 18.5% | 31.8% | 37.0% | 19.0% | 7/9 |
| INTU Intuit | 21.4B USD | +17.4% | – | 27.4% | 21.3% | 24.0% | 51.6% | 40.4% | – |
| SNDK Sandisk this stock | 20.2B USD | – | 71.5% | 61.2% | 56.5% | 72.7% | 69.9% | 56.8% | 7/9 |
| TXN Texas Instruments | 17.7B USD | +4.1% | 57.0% | 34.1% | 28.3% | 30.7% | 47.1% | 14.7% | 6/9 |
| GLW Corning Inc. | 15.6B USD | +6.7% | 36.0% | 14.6% | 10.2% | 13.5% | 38.1% | 9.0% | 7/9 |
| KLAC KLA Corporation | 13.6B USD | +14.4% | 61.3% | – | 35.6% | 76.1% | 35.4% | 27.7% | 8/9 |
| Median of the sector 63 symbols | 11.0B USD | +14.5% | 56.1% | 14.2% | 12.5% | 13.5% | 51.6% | 19.0% | 6/9 |
Growth 5 yrs = revenue growth per year over 5 fiscal years · Op. margin = operating margin · ROE = return on equity · FCF = free cash flow · Piotroski = F-Score (only with all 9 criteria).
Figures of the last fiscal year from SEC annual reports (peers as of Oct 28, 2026). Median across all companies of the sector we cover (from 5 stocks; several share classes of one company count once). Signed-in users also see P/E, P/S and dividend yield in the comparison. Describes the reported figures – not investment advice.
Each light follows a simple, disclosed rule. The comparison is with the sector median Sector medianThe middle value of all companies in a sector: half are above it, half below. Unlike the average, single outliers hardly distort it.Example: Margins 4%, 8%, 10%, 12%, 60% → median 10%, average 18.8%.More in the Academy: Lesson putting the P/E in context of all 97 symbols in the Technology sector on our list (current members of the S&P 500 and other lists).
+49.3% per year, last 3 years
Sector Technology: median +10.0% (93 symbols)
What does this mean? Revenue: over 3 years it grew by 49.3% per year on average – at least as fast as the median company in the sector (+10.0%).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
– per year, last 3 years
Sector Technology: median +6.6% (63 symbols)
per share: not computable (loss in the first or last year)
What does this mean? There was a loss in the first or last year. An annual growth rate cannot be calculated meaningfully then.
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
56.5% last fiscal year
Sector Technology: median 12.5% (97 symbols)
What does this mean? Of every 100 USD in revenue, 56.46 USD remained as profit – at least as much as the median company in the sector (12.5%).
Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.
0.00 latest balance sheet
Sector Technology: median 0.45 (79 symbols)
What does this mean? No financial debt reported – no more than the median company in the sector (0.45). More debt amplifies good and bad years alike.
Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.
– Dividend / earnings per share
Sector Technology: median 30% (36 symbols)
What does this mean? The loaded SEC filings of the last two fiscal years contain no dividend per share. Either the company pays none, or it reports it under a different tag.
Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.
1 of 4 fiscal years with a profit
What does this mean? In 1 of the last 4 fiscal years the bottom line showed a profit. 3 years ended with a loss.
Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).
| Year | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| 2026 | Jul 3, 2026 | 20.2B | 11.4B | 56.5% | 73.76 | – | – |
| 2025 | Jun 27, 2025 | 7.4B | −1.6B | −22.3% | −11.32 | – | – |
| 2024 | Jun 28, 2024 | 6.7B | −672.0M | −10.1% | −4.63 | – | – |
| 2023 | Jun 30, 2023 | 6.1B | −2.1B | −35.2% | −14.78 | – | – |
| Quarter | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| Q2/26* | Jul 3, 2026 | 9.0B | 6.9B | 77.0% | – | – | – |
| Q1/26 | Apr 3, 2026 | 6.0B | 3.6B | 60.8% | 23.03 | – | – |
| Q4/25 | Jan 2, 2026 | 3.0B | 803.0M | 26.5% | 5.15 | – | – |
| Q3/25 | Oct 3, 2025 | 2.3B | 112.0M | 4.9% | 0.75 | – | – |
| Q2/25* | Jun 27, 2025 | 1.9B | −23.0M | −1.2% | – | – | – |
| Q1/25 | Mar 28, 2025 | 1.7B | −1.9B | −114.0% | −13.33 | – | – |
| Q4/24 | Dec 27, 2024 | 1.9B | 104.0M | 5.5% | 0.72 | – | – |
| Q3/24 | Sep 27, 2024 | 1.9B | 211.0M | 11.2% | 1.46 | – | – |
| Q2/24* | Jun 28, 2024 | 1.8B | 120.0M | 6.8% | – | – | – |
| Q1/24 | Mar 29, 2024 | 1.7B | 27.0M | 1.6% | 0.19 | – | – |
| Q4/23 | Dec 29, 2023 | 1.7B | −301.0M | −18.1% | – | – | – |
| Q3/23 | Sep 29, 2023 | – | −518.0M | – | – | – | – |
* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.
How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth over 5 years (otherwise 3 years). Quarters are labeled by the calendar quarter in which they end.
| Period | Purchases | Sales | Net |
|---|---|---|---|
| 3 months | $00 people | $121.2M4 people | −$121.2M |
| 6 months | $00 people | $131.3M6 people | −$131.3M |
| 12 months | $00 people | $133.8M7 people | −$133.8M |
Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.
ATR ATR (Average True Range)The average range per trading day over the last 14 days. It makes distances comparable, whether a stock costs 10 or 1,000.Example: ATR 2.50 at a price of 100: 0.4 ATR is 1.00, i.e. 1%.More in the Academy: Lesson ATR and moving averages as price values only when logged in.
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