SanDisk Corp Financials
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
SanDisk Corp has an operating margin of -18.7%, meaning the company retains $-19 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -7.0% the prior year.
SanDisk Corp's revenue grew 10.4% year-over-year to $7.4B, a solid pace of expansion. This earns a growth score of 58/100.
SanDisk Corp carries a low D/E ratio of 0.20, meaning only $0.20 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 3.56, SanDisk Corp holds $3.56 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
While SanDisk Corp generated $84.0M in operating cash flow, capex of $204.0M consumed most of it, leaving -$120.0M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
SanDisk Corp passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, SanDisk Corp generates $-0.05 in operating cash flow ($84.0M OCF vs -$1.6B net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
SanDisk Corp earns $-21.9 in operating income for every $1 of interest expense (-$1.4B vs $63.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
This page shows SanDisk Corp (SNDK) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 2 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
SanDisk Corp generated $7.4B in revenue in fiscal year 2025. This represents an increase of 10.4% from the prior year.
SanDisk Corp's EBITDA was -$1.2B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 397.5% from the prior year.
SanDisk Corp generated -$120.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 74.7% from the prior year.
SanDisk Corp reported -$1.6B in net income in fiscal year 2025. This represents a decrease of 144.2% from the prior year.
SanDisk Corp earned $-11.32 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 144.5% from the prior year.
SanDisk Corp held $1.5B in cash against $1.8B in long-term debt as of fiscal year 2025.
SanDisk Corp had 146M shares outstanding in fiscal year 2025.
SanDisk Corp's gross margin was 30.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 14.0 percentage points from the prior year.
SanDisk Corp's operating margin was -18.7% in fiscal year 2025, reflecting core business profitability. This is down 11.7 percentage points from the prior year.
SanDisk Corp's net profit margin was -22.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 12.2 percentage points from the prior year.
SanDisk Corp invested $1.1B in research and development in fiscal year 2025. This represents an increase of 6.7% from the prior year.
SanDisk Corp invested $204.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 22.9% from the prior year.
SNDK Income Statement
| Metric | Q2'26 | Q1'25 | Q2'25 | Q3'25 | Q2'24 | Q1'24 | Q3'24 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.0B+31.1% | $2.3B | N/A | $1.7B-9.6% | $1.9B-0.4% | $1.9B+10.4% | $1.7B+2.4% | $1.7B |
| Cost of Revenue | $1.5B-8.5% | $1.6B | N/A | $1.3B+3.4% | $1.3B+9.8% | $1.2B-6.8% | $1.2B-17.4% | $1.5B |
| Gross Profit | $1.5B+124.3% | $687.0M | N/A | $382.0M-37.0% | $606.0M-16.5% | $726.0M+56.8% | $463.0M+187.6% | $161.0M |
| R&D Expenses | $327.0M+3.5% | $316.0M | N/A | $285.0M+2.2% | $279.0M-1.4% | $283.0M+2.2% | $277.0M+12.6% | $246.0M |
| SG&A Expenses | $139.0M-22.3% | $179.0M | N/A | $139.0M-2.1% | $142.0M+9.2% | $130.0M+21.5% | $107.0M-5.3% | $113.0M |
| Operating Income | $1.1B+505.1% | $176.0M | N/A | -$1.9B-1064.6% | $195.0M-33.0% | $291.0M+347.7% | $65.0M+126.5% | -$245.0M |
| Interest Expense | $25.0M-37.5% | $40.0M | N/A | $16.0M+300.0% | $4.0M+100.0% | $2.0M-77.8% | $9.0M-18.2% | $11.0M |
| Income Tax | $134.0M+1016.7% | $12.0M-92.6% | $162.0M+406.3% | $32.0M-53.6% | $69.0M+23.2% | $56.0M+107.4% | $27.0M-34.1% | $41.0M |
| Net Income | $803.0M+617.0% | $112.0M | N/A | -$1.9B-1958.7% | $104.0M-50.7% | $211.0M+681.5% | $27.0M+109.0% | -$301.0M |
| EPS (Diluted) | $5.15+586.7% | $0.75 | N/A | $-13.33-1951.4% | $0.72-50.7% | $1.46+668.4% | $0.19 | N/A |
SNDK Balance Sheet
| Metric | Q2'26 | Q1'25 | Q2'25 | Q3'25 | Q2'24 | Q1'24 | Q3'24 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $13.0B+2.0% | $12.7B-1.8% | $13.0B+0.2% | $13.0B-9.0% | $14.2B | N/A | N/A | N/A |
| Current Assets | $5.2B+3.3% | $5.0B-2.0% | $5.1B-0.1% | $5.1B+14.2% | $4.5B | N/A | N/A | N/A |
| Cash & Equivalents | $1.5B+6.7% | $1.4B-2.6% | $1.5B-1.7% | $1.5B+87.4% | $804.0M+149.7% | $322.0M-14.6% | $377.0M-11.3% | $425.0M |
| Inventory | $2.0B+3.3% | $1.9B-8.3% | $2.1B-3.8% | $2.2B-0.6% | $2.2B | N/A | N/A | N/A |
| Accounts Receivable | $1.2B+3.9% | $1.2B+11.7% | $1.1B+9.1% | $979.0M+8.3% | $904.0M | N/A | N/A | N/A |
| Goodwill | $5.0B-0.1% | $5.0B0.0% | $5.0B0.0% | $5.0B-26.8% | $6.8B | N/A | N/A | N/A |
| Total Liabilities | $2.8B-17.3% | $3.4B-10.6% | $3.8B-0.8% | $3.8B+70.1% | $2.2B | N/A | N/A | N/A |
| Current Liabilities | $1.7B+9.1% | $1.5B+6.2% | $1.4B+3.8% | $1.4B-26.6% | $1.9B | N/A | N/A | N/A |
| Long-Term Debt | $583.0M-56.2% | $1.3B-27.2% | $1.8B-5.1% | $1.9B | $0 | N/A | N/A | N/A |
| Total Equity | $10.2B+8.9% | $9.4B+1.8% | $9.2B+0.6% | $9.2B-23.7% | $12.0B-1.0% | $12.1B+10.9% | $10.9B+0.4% | $10.9B |
| Retained Earnings | -$869.0M+48.0% | -$1.7B+6.3% | -$1.8B-1.3% | -$1.8B | $0 | N/A | N/A | N/A |
SNDK Cash Flow Statement
| Metric | Q2'26 | Q1'25 | Q2'25 | Q3'25 | Q2'24 | Q1'24 | Q3'24 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.0B+108.8% | $488.0M+419.1% | $94.0M+261.5% | $26.0M-72.6% | $95.0M+172.5% | -$131.0M-991.7% | -$12.0M | N/A |
| Capital Expenditures | $39.0M-22.0% | $50.0M+11.1% | $45.0M+2.3% | $44.0M-8.3% | $48.0M-28.4% | $67.0M+131.0% | $29.0M | N/A |
| Free Cash Flow | $980.0M+123.7% | $438.0M+793.9% | $49.0M+372.2% | -$18.0M-138.3% | $47.0M+123.7% | -$198.0M-382.9% | -$41.0M | N/A |
| Investing Cash Flow | -$165.0M-1000.0% | -$15.0M+11.8% | -$17.0M-104.2% | $404.0M+114.9% | $188.0M+1089.5% | -$19.0M-119.0% | $100.0M | N/A |
| Financing Cash Flow | -$758.0M-47.2% | -$515.0M-404.9% | -$102.0M-137.0% | $276.0M+112.3% | $130.0M-39.3% | $214.0M+258.5% | -$135.0M | N/A |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
SNDK Financial Ratios
| Metric | Q2'26 | Q1'25 | Q2'25 | Q3'25 | Q2'24 | Q1'24 | Q3'24 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 50.9%+21.2pp | 29.8% | N/A | 22.5%-9.8pp | 32.3%-6.3pp | 38.6%+11.4pp | 27.2%+17.5pp | 9.7% |
| Operating Margin | 35.2%+27.6pp | 7.6% | N/A | -111.0%-121.4pp | 10.4%-5.1pp | 15.4%+11.6pp | 3.8%+18.5pp | -14.7% |
| Net Margin | 26.6%+21.7pp | 4.9% | N/A | -114.0%-119.6pp | 5.5%-5.7pp | 11.2%+9.6pp | 1.6%+19.7pp | -18.1% |
| Return on Equity | 7.9%+6.7pp | 1.2% | N/A | N/A | 0.9%-0.9pp | 1.7%+1.5pp | 0.3% | N/A |
| Return on Assets | 6.2%+5.3pp | 0.9% | N/A | -14.9%-15.7pp | 0.7% | N/A | N/A | N/A |
| Current Ratio | 3.11-0.2 | 3.29-0.3 | 3.56-0.1 | 3.70+1.3 | 2.38 | N/A | N/A | N/A |
| Debt-to-Equity | 0.06-0.1 | 0.14-0.1 | 0.20-0.0 | 0.21+0.0 | 0.19 | N/A | N/A | N/A |
| FCF Margin | 32.4%+13.4pp | 19.0% | N/A | -1.1%-3.6pp | 2.5%+13.0pp | -10.5%-8.1pp | -2.4% | N/A |
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Frequently Asked Questions
What is SanDisk Corp's annual revenue?
SanDisk Corp (SNDK) reported $7.4B in total revenue for fiscal year 2025. This represents a 10.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is SanDisk Corp's revenue growing?
SanDisk Corp (SNDK) revenue grew by 10.4% year-over-year, from $6.7B to $7.4B in fiscal year 2025.
Is SanDisk Corp profitable?
No, SanDisk Corp (SNDK) reported a net income of -$1.6B in fiscal year 2025, with a net profit margin of -22.3%.
What is SanDisk Corp's earnings per share (EPS)?
SanDisk Corp (SNDK) reported diluted earnings per share of $-11.32 for fiscal year 2025. This represents a -144.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is SanDisk Corp's EBITDA?
SanDisk Corp (SNDK) had EBITDA of -$1.2B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does SanDisk Corp have?
As of fiscal year 2025, SanDisk Corp (SNDK) had $1.5B in cash and equivalents against $1.8B in long-term debt.
What is SanDisk Corp's gross margin?
SanDisk Corp (SNDK) had a gross margin of 30.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is SanDisk Corp's operating margin?
SanDisk Corp (SNDK) had an operating margin of -18.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is SanDisk Corp's net profit margin?
SanDisk Corp (SNDK) had a net profit margin of -22.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is SanDisk Corp's free cash flow?
SanDisk Corp (SNDK) generated -$120.0M in free cash flow during fiscal year 2025. This represents a 74.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is SanDisk Corp's operating cash flow?
SanDisk Corp (SNDK) generated $84.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are SanDisk Corp's total assets?
SanDisk Corp (SNDK) had $13.0B in total assets as of fiscal year 2025, including both current and long-term assets.
What are SanDisk Corp's capital expenditures?
SanDisk Corp (SNDK) invested $204.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does SanDisk Corp spend on research and development?
SanDisk Corp (SNDK) invested $1.1B in research and development during fiscal year 2025.
How many shares does SanDisk Corp have outstanding?
SanDisk Corp (SNDK) had 146M shares outstanding as of fiscal year 2025.
What is SanDisk Corp's current ratio?
SanDisk Corp (SNDK) had a current ratio of 3.56 as of fiscal year 2025, which is generally considered healthy.
What is SanDisk Corp's debt-to-equity ratio?
SanDisk Corp (SNDK) had a debt-to-equity ratio of 0.20 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is SanDisk Corp's return on assets (ROA)?
SanDisk Corp (SNDK) had a return on assets of -12.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is SanDisk Corp's Piotroski F-Score?
SanDisk Corp (SNDK) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are SanDisk Corp's earnings high quality?
SanDisk Corp (SNDK) has an earnings quality ratio of -0.05x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can SanDisk Corp cover its interest payments?
SanDisk Corp (SNDK) has an interest coverage ratio of -21.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is SanDisk Corp?
SanDisk Corp (SNDK) scores 52 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.