Sandisk Corporation (SNDK) 10-Year Financial Performance & Capital Metrics

SNDK • • Industrial / General

TechnologyTech Hardware & EquipmentElectronic Components & ConnectorsCircuit Protection & Power Components

AboutSanDisk Corp. engages in the development, manufacture, and provision of storage devices and solutions on NAND flash technology. Its products include solid state drives. embedded products, removable cards, universal series bus, and wafers and components. The company was founded on June 1, 1988 and is headquartered in Milipitas, CA.Show more

Revenue $7.36B +10.4%
EBITDA -$1.21B -397.5%
Net Income -$1.64B -144.2%
EPS (Diluted) -11.32 -142.4%
Gross Margin 30.07% +86.9%
EBITDA Margin -16.51% -350.7%
Operating Margin -18.72% -166.5%
Net Margin -22.31% -121.2%
ROE -16.17% -170.9%
ROIC -9.59% -226.9%
Debt/Equity 0.22 +146.5%
Interest Coverage -21.86 -30.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 98 (top 2%)
✓Trading near 52-week high

✗Weaknesses

✗Negative free cash flow

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-8.98%

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-

EPS CAGR

10Y-

5Y-

3Y-

TTM-

ROCE

10Y Avg-2.86%

5Y Avg-2.86%

3Y Avg-10.81%

Latest-12%

Peer Comparison

Circuit Protection & Power Components

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
VICRVicor Corporation	4.79B	145.48	1039.14	-11.36%	18.63%	13.05%	0.57%	0.01
LFUSLittelfuse, Inc.	7.32B	293.80	73.45	-7.28%	5.11%	4.44%	3.99%	0.39
ROGRogers Corporation	1.81B	100.89	72.06	-8.62%	-8.43%	-5.56%	3.91%	0.02
BELFBBel Fuse Inc.	2.07B	196.61	60.31	-16.41%	10.04%	12.81%	2.89%	0.72
WATTEnergous Corporation	11.01M	5.06	-0.07	61.96%	-410.74%	-90.31%
SNDKSandisk Corporation	59.98B	409.24	-36.15	10.39%	-22.36%	-18.55%		0.22
RELLRichardson Electronics, Ltd.	135.17M	10.83	-116.58	6.34%	0.08%	0.11%	5.73%	0.01

Profit & Loss

	Jul 2022	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Sales/Revenue+	9.75B	9.75B	6.09B	6.66B	7.36B
Revenue Growth %	0%	-	-0.38%	0.09%	0.1%
Cost of Goods Sold+	6.51B	6.51B	5.66B	5.59B	5.14B
COGS % of Revenue	0.67%	0.67%	0.93%	0.84%	0.7%
Gross Profit+	3.24B	3.24B	430M	1.07B	2.21B
Gross Margin %	0.33%	0.33%	0.07%	0.16%	0.3%
Gross Profit Growth %	0%	-	-0.87%	1.49%	1.06%
Operating Expenses+	2.04B	2.04B	2.46B	1.54B	3.59B
OpEx % of Revenue	0.21%	0.21%	0.41%	0.23%	0.49%
Selling, General & Admin	666M	666M	558M	455M	573M
SG&A % of Revenue	0.07%	0.07%	0.09%	0.07%	0.08%
Research & Development	1.36B	1.36B	1.17B	1.06B	1.13B
R&D % of Revenue	0.14%	0.14%	0.19%	0.16%	0.15%
Other Operating Expenses	16M	16M	740M	24M	1.88B
Operating Income+	1.2B	1.2B	-2.04B	-468M	-1.38B
Operating Margin %	0.12%	0.12%	-0.33%	-0.07%	-0.19%
Operating Income Growth %	0%	-	-2.7%	0.77%	-1.94%
EBITDA+	1.73B	1.73B	-1.59B	-244M	-1.21B
EBITDA Margin %	0.18%	0.18%	-0.26%	-0.04%	-0.17%
EBITDA Growth %	0%	-	-1.92%	0.85%	-3.98%
D&A (Non-Cash Add-back)	525M	525M	448M	224M	163M
EBIT	1.22B	1.22B	-1.29B	-444M	-1.42B
Net Interest Income+	-9M	-9M	-10M	-28M	-41M
Interest Income	0	0	0	0	22M
Interest Expense	9M	9M	10M	28M	63M
Other Income/Expense	34M	34M	33M	-35M	-102M
Pretax Income+	1.23B	1.23B	-2B	-503M	-1.48B
Pretax Margin %	0.13%	0.13%	-0.33%	-0.08%	-0.2%
Income Tax+	170M	170M	141M	169M	162M
Effective Tax Rate %	0.86%	0.86%	1.07%	1.34%	1.11%
Net Income+	1.06B	1.06B	-2.14B	-672M	-1.64B
Net Margin %	0.11%	0.11%	-0.35%	-0.1%	-0.22%
Net Income Growth %	0%	-	-3.01%	0.69%	-1.44%
Net Income (Continuing)	1.06B	1.06B	-2.14B	-672M	-1.64B
Discontinued Operations	0	0	0	0	0
Minority Interest	0	0	0	0	0
EPS (Diluted)+	7.39	7.39	-14.88	-4.67	-11.32
EPS Growth %	0%	-	-3.01%	0.69%	-1.42%
EPS (Basic)	7.39	7.39	-14.88	-4.67	-11.32
Diluted Shares Outstanding	144M	144M	144M	144M	145M
Basic Shares Outstanding	144M	144M	144M	144M	145M
Dividend Payout Ratio	-	-	-	-	-

Balance Sheet

	Jul 2022	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Total Current Assets+	4.49B	4.49B	3.4B	3.55B	5.09B
Cash & Short-Term Investments	335M	335M	292M	328M	1.48B
Cash Only	335M	335M	292M	328M	1.48B
Short-Term Investments	0	0	0	0	0
Accounts Receivable	1.29B	1.29B	539M	935M	1.13B
Days Sales Outstanding	48.24	48.24	32.33	51.22	56.28
Inventory	1.99B	1.99B	2.27B	1.96B	2.08B
Days Inventory Outstanding	111.69	111.69	146.43	127.63	147.55
Other Current Assets	873M	873M	300M	330M	392M
Total Non-Current Assets+	11.27B	11.27B	10.42B	9.96B	7.9B
Property, Plant & Equipment	1.04B	1.04B	1.03B	970M	619M
Fixed Asset Turnover	9.39x	9.39x	5.93x	6.87x	11.88x
Goodwill	7.89B	7.89B	7.21B	7.21B	5B
Intangible Assets	133M	133M	0	0	0
Long-Term Investments	615M	615M	617M	510M	734M
Other Non-Current Assets	1.6B	1.6B	1.56B	1.27B	1.49B
Total Assets+	15.76B	15.76B	13.82B	13.51B	12.98B
Asset Turnover	0.62x	0.62x	0.44x	0.49x	0.57x
Asset Growth %	0%	-	-0.12%	-0.02%	-0.04%
Total Current Liabilities+	2.51B	2.51B	2.17B	2.12B	1.43B
Accounts Payable	788M	788M	626M	670M	366M
Days Payables Outstanding	44.18	44.18	40.4	43.74	25.98
Short-Term Debt	950M	950M	919M	814M	20M
Deferred Revenue (Current)	0	0	0	0	0
Other Current Liabilities	55M	55M	71M	47M	0
Current Ratio	1.79x	1.79x	1.56x	1.67x	3.56x
Quick Ratio	0.99x	0.99x	0.52x	0.75x	2.11x
Cash Conversion Cycle	115.74	115.74	138.35	135.11	177.85
Total Non-Current Liabilities+	271M	271M	207M	301M	2.34B
Long-Term Debt	0	0	0	0	1.83B
Capital Lease Obligations	0	0	88M	171M	193M
Deferred Tax Liabilities	0	0	0	0	17M
Other Non-Current Liabilities	271M	271M	119M	130M	303M
Total Liabilities	2.78B	2.78B	2.38B	2.42B	3.77B
Total Debt+	950M	950M	1.02B	996M	2.04B
Net Debt	615M	615M	728M	668M	561M
Debt / Equity	0.07x	0.07x	0.09x	0.09x	0.22x
Debt / EBITDA	0.55x	0.55x	-	-	-
Net Debt / EBITDA	0.36x	0.36x	-	-	-
Interest Coverage	133.33x	133.33x	-203.50x	-16.71x	-21.86x
Total Equity+	12.98B	12.98B	11.44B	11.08B	9.22B
Equity Growth %	0%	-	-0.12%	-0.03%	-0.17%
Book Value per Share	90.12	90.12	79.44	76.96	63.56
Total Shareholders' Equity	12.98B	12.98B	11.44B	11.08B	9.22B
Common Stock	13.38B	13.38B	11.78B	11.53B	1M
Retained Earnings	0	0	0	0	-1.78B
Treasury Stock	0	0	0	0	0
Accumulated OCI	-407M	-407M	-343M	-452M	-249M
Minority Interest	0	0	0	0	0

Cash Flow

	Jul 2022	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Cash from Operations+	1.15B	1.15B	-713M	-309M	84M
Operating CF Margin %	0.12%	0.12%	-0.12%	-0.05%	0.01%
Operating CF Growth %	0%	-	-1.62%	0.57%	1.27%
Net Income	1.06B	1.06B	-2.14B	-672M	-1.64B
Depreciation & Amortization	525M	525M	448M	224M	163M
Stock-Based Compensation	171M	171M	165M	149M	182M
Deferred Taxes	0	0	0	0	-12M
Other Non-Cash Items	-48M	-48M	473M	129M	1.77B
Working Capital Changes	-561M	-561M	344M	-139M	-380M
Change in Receivables	-165M	-165M	750M	-395M	-100M
Change in Inventory	-56M	-56M	-277M	314M	-160M
Change in Payables	0	0	0	0	70M
Cash from Investing+	-472M	-472M	-189M	210M	556M
Capital Expenditures	-410M	-410M	-219M	-166M	-204M
CapEx % of Revenue	0.04%	0.04%	0.04%	0.02%	0.03%
Acquisitions	-	-	-	-	-
Investments	-	-	-	-	-
Other Investing	-62M	-62M	30M	376M	358M
Cash from Financing+	-650M	-650M	860M	136M	518M
Debt Issued (Net)	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-
Dividends Paid	0	0	0	0	0
Share Repurchases	-	-	-	-	-
Other Financing	-650M	-650M	860M	136M	-1.93B
Net Change in Cash	-	-	-	-	-
Free Cash Flow+	741M	741M	-932M	-475M	-120M
FCF Margin %	0.08%	0.08%	-0.15%	-0.07%	-0.02%
FCF Growth %	0%	-	-2.26%	0.49%	0.75%
FCF per Share	5.15	5.15	-6.47	-3.30	-0.83
FCF Conversion (FCF/Net Income)	1.08x	1.08x	0.33x	0.46x	-0.05x
Interest Paid	2M	2M	7M	12M	139M
Taxes Paid	0	0	0	0	50M

Key Ratios

Metric	2021	2022	2023	2024	2025
Return on Equity (ROE)	8.2%	8.2%	-17.55%	-5.97%	-16.17%
Return on Invested Capital (ROIC)	6.62%	6.62%	-11.85%	-2.94%	-9.59%
Gross Margin	33.26%	33.26%	7.07%	16.09%	30.07%
Net Margin	10.91%	10.91%	-35.21%	-10.09%	-22.31%
Debt / Equity	0.07x	0.07x	0.09x	0.09x	0.22x
Interest Coverage	133.33x	133.33x	-203.50x	-16.71x	-21.86x
FCF Conversion	1.08x	1.08x	0.33x	0.46x	-0.05x
Revenue Growth	0%	-	-37.61%	9.48%	10.39%

Revenue by Segment

	2011	2014	2015	2025
Client Devices	-	-	-	4.13B
Client Devices Growth	-	-	-	-
Consumer	-	-	-	2.27B
Consumer Growth	-	-	-	-
Cloud	-	-	-	960M
Cloud Growth	-	-	-	-

Revenue by Geography

	2011	2014	2015	2025
CHINA	-	-	2.03B	2.04B
CHINA Growth	-	-	-	0.68%
UNITED STATES	-	877.76M	1.14B	1.45B
UNITED STATES Growth	-	-	29.45%	27.34%
HONG KONG	-	-	-	1.3B
HONG KONG Growth	-	-	-	-
EMEA	-	780.08M	814.82M	1.28B
EMEA Growth	-	-	4.45%	57.09%
Asia	-	-	-	1.12B
Asia Growth	-	-	-	-
Other Geographical	-	-	-	171M
Other Geographical Growth	-	-	-	-
Asia Pacific	-	867.9M	1.46B	-
Asia Pacific Growth	-	-	68.77%	-
TAIWAN, PROVINCE OF CHINA	-	-	864.46M	-
TAIWAN, PROVINCE OF CHINA Growth	-	-	-	-
Other foreign countries	152.58M	302.33M	321.3M	-
Other foreign countries Growth	-	98.14%	6.28%	-
China	-	1.89B	-	-
China Growth	-	-	-	-
Taiwan	993.79M	958.71M	-	-
Taiwan Growth	-	-3.53%	-	-
South Korea	334.17M	496.03M	-	-
South Korea Growth	-	48.44%	-	-
Other Asia-Pacific	1.82B	-	-	-
Other Asia-Pacific Growth	-	-	-	-
Europe, Middle East and Africa	714.38M	-	-	-
Europe, Middle East and Africa Growth	-	-	-	-

Frequently Asked Questions

Growth & Financials

Sandisk Corporation (SNDK) reported $7.78B in revenue for fiscal year 2025. This represents a 20% decrease from $9.75B in 2021.

Sandisk Corporation (SNDK) grew revenue by 10.4% over the past year. This is steady growth.

Sandisk Corporation (SNDK) reported a net loss of $1.74B for fiscal year 2025.

Dividend & Returns

Sandisk Corporation (SNDK) has a return on equity (ROE) of -16.2%. Negative ROE indicates the company is unprofitable.

Sandisk Corporation (SNDK) generated $301.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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