Sandisk
SNDK · NasdaqComputer Storage Devices · Fiscal year ends Jun 28
Sandisk reported revenue of $20.2B in the fiscal year ended Jul 2026, up 175.3% from the year before. Operating income was $12.4B, an operating margin of 61.2%, and net income was $11.4B. Operating cash flow of $11.7B less capital expenditure of $177M left free cash flow of $11.5B. It held more cash than debt (net cash $4.8B).
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Jun 2023 | Jun 2024 | Jun 2025 | Jul 2026 |
|---|---|---|---|---|
| Revenue | $6.1B | $6.7B | $7.4B | $20.2B |
| Cost of revenue | $5.7B | $5.6B | $5.1B | $5.8B |
| Gross profit | $430M | $1.1B | $2.2B | $14.5B |
| Research & development | $1.2B | $1.1B | $1.1B | $1.3B |
| Selling, general & admin | $558M | $455M | $573M | $676M |
| Operating income | −$2B | −$468M | −$1.4B | $12.4B |
| Interest expense | $31M | $40M | $63M | $73M |
| Pre-tax income | −$2B | −$503M | −$1.5B | $13B |
| Income tax | $141M | $169M | $162M | $1.6B |
| Net income | −$2.1B | −$672M | −$1.6B | $11.4B |
| Diluted EPS | −14.78 | −4.63 | −11.32 | 73.76 |
| Diluted shares | 145M | 145M | 145M | 155M |
Balance sheet
| Fiscal year | Jun 2023 | Jun 2024 | Jun 2025 | Jul 2026 |
|---|---|---|---|---|
| Cash & equivalents | $292M | $328M | $1.5B | $4.8B |
| Receivables | – | $935M | $1.1B | $4.7B |
| Inventory | – | $2B | $2.1B | $2.7B |
| Current assets | – | $3.5B | $5.1B | $12.8B |
| Net PP&E | – | $791M | $619M | $674M |
| Goodwill | – | $7.2B | $5B | $5B |
| Total assets | – | $13.5B | $13B | $22.5B |
| Deferred revenue | – | – | $25M | $849M |
| Current liabilities | – | $2.1B | $1.4B | $5.6B |
| Short-term debt | – | $0 | $20M | $0 |
| Long-term debt | – | $0 | $1.8B | $0 |
| Total liabilities | – | $2.4B | $3.8B | $6.8B |
| Shareholders' equity | $11.4B | $11.1B | $9.2B | $15.7B |
| Backlog (remaining obligations) | – | – | – | $59.8B |
Cash flow
| Fiscal year | Jun 2023 | Jun 2024 | Jun 2025 | Jul 2026 |
|---|---|---|---|---|
| Operating cash flow | −$713M | −$309M | $84M | $11.7B |
| Capital expenditure | $219M | $166M | $204M | $177M |
| Free cash flow | −$932M | −$475M | −$120M | $11.5B |
| Depreciation & amortisation | $448M | $224M | $163M | $149M |
| Stock-based compensation | $165M | $149M | $182M | $232M |
| Share buybacks | – | $0 | $0 | $4.5B |
Key ratios
| Fiscal year | Jun 2023 | Jun 2024 | Jun 2025 | Jul 2026 |
|---|---|---|---|---|
| Revenue growth (YoY) | – | 9.5% | 10.4% | 175.3% |
| Gross margin | 7.1% | 16.1% | 30.1% | 71.5% |
| Operating margin | −33.4% | −7.0% | −18.7% | 61.2% |
| Net margin | −35.2% | −10.1% | −22.3% | 56.5% |
| Return on equityBlank when equity is negative | −18.7% | −6.1% | −17.8% | 72.7% |
| ROCEEBIT ÷ (assets − current liabilities) | – | −4.1% | −11.9% | 73.2% |
| Free cash flow margin | −15.3% | −7.1% | −1.6% | 56.8% |
| Cash conversion (CFO ÷ net income) | 0.33x | 0.46x | −0.05x | 1.02x |
| Receivable days | – | 51 | 53 | 85 |
| Inventory days | – | 128 | 148 | 170 |
| Interest cover | −65.6x | −11.7x | −21.9x | 170x |
| Debt ÷ equity | – | 0.00x | 0.20x | 0.00x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | – | −$328M | $368M | −$4.8B |
| Current ratio | – | 1.67x | 3.56x | 2.29x |
Recent filings
More in Computer Storage Devices
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.