The company has successfully eliminated all debt, moving from $2.1B in total debt during 2025Q3 to a debt-free status as of 2026Q3.
| Total Current Assets | 9.17B | 5.09B | 3.55B | 3.4B | 4.49B | 4.49B |
| Cash & Short-Term Investments | 3.73B | 1.48B | 328M | 292M | 335M | 335M |
| Cash Only | 3.73B | 1.48B | 328M | 292M | 335M | 335M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 2.86B | 1.13B | 935M | 539M | 1.29B | 1.29B |
| Days Sales Outstanding | 43.93 | 56.28 | 51.22 | 32.33 | 48.24 | 48.24 |
| Inventory | 2.24B | 2.08B | 1.96B | 2.27B | 1.99B | 1.99B |
| Days Inventory Outstanding | 129 | 147.55 | 127.63 | 146.43 | 111.69 | 111.69 |
| Other Current Assets | 335M | 392M | 330M | 300M | 873M | 873M |
| Total Non-Current Assets | 7.91B | 7.9B | 9.96B | 10.42B | 11.27B | 11.27B |
| Property, Plant & Equipment | 649M | 619M | 970M | 1.03B | 1.04B | 1.04B |
| Fixed Asset Turnover | 21.50x | 11.88x | 6.87x | 5.93x | 9.39x | 9.39x |
| Goodwill | 4.99B | 5B | 7.21B | 7.21B | 7.89B | 7.89B |
| Intangible Assets | 0 | 0 | 0 | 0 | 133M | 133M |
| Long-Term Investments | 2.86B | 734M | 510M | 617M | 615M | 615M |
| Other Non-Current Assets | 1.49B | 1.49B | 1.27B | 1.56B | 1.6B | 1.6B |
| Total Assets | 17.07B | 12.98B | 13.51B | 13.82B | 15.76B | 15.76B |
| Asset Turnover | 0.97x | 0.57x | 0.49x | 0.44x | 0.62x | 0.62x |
| Asset Growth % | 11% | -3.86% | -2.27% | -12.32% | - | 0% |
| Total Current Liabilities | 1.92B | 1.43B | 2.12B | 2.17B | 2.51B | 2.51B |
| Accounts Payable | 416M | 366M | 357M | 626M | 788M | 788M |
| Days Payables Outstanding | 25.44 | 25.98 | 23.31 | 40.4 | 44.18 | 44.18 |
| Short-Term Debt | 0 | 20M | 814M | 919M | 950M | 950M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 1.5B | 0 | 0 | 71M | 55M | 55M |
| Current Ratio | 4.78x | 3.56x | 1.67x | 1.56x | 1.79x | 1.79x |
| Quick Ratio | 3.62x | 2.11x | 0.75x | 0.52x | 0.99x | 0.99x |
| Cash Conversion Cycle | 147.49 | 177.85 | 155.54 | 138.35 | 115.74 | 115.74 |
| Total Non-Current Liabilities | 1.38B | 2.34B | 301M | 207M | 271M | 271M |
| Long-Term Debt | 0 | 1.83B | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 567M | 193M | 171M | 88M | 0 | 0 |
| Deferred Tax Liabilities | 84M | 17M | 15M | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1.36B | 303M | 115M | 119M | 271M | 271M |
| Total Liabilities | 3.3B | 3.77B | 2.42B | 2.38B | 2.78B | 2.78B |
| Total Debt | 0 | 2.04B | 985M | 1.02B | 950M | 950M |
| Net Debt | -3.73B | 561M | 657M | 728M | 615M | 615M |
| Debt / Equity | 0.00x | 0.22x | 0.09x | 0.09x | 0.07x | 0.07x |
| Debt / EBITDA | 0.00x | - | - | - | 0.55x | 0.55x |
| Net Debt / EBITDA | -0.66x | - | - | - | 0.36x | 0.36x |
| Interest Coverage | 43.33x | -22.48x | -11.58x | -63.58x | 135.11x | 135.11x |
| Total Equity | 13.78B | 9.22B | 11.08B | 11.44B | 12.98B | 12.98B |
| Equity Growth % | -3.99% | -16.84% | -3.12% | -11.85% | - | 0% |
| Book Value per Share | 87.75 | 63.56 | 76.96 | 79.44 | 90.12 | 90.12 |
| Total Shareholders' Equity | 13.78B | 9.22B | 11.08B | 11.44B | 12.98B | 12.98B |
| Common Stock | 1M | 1M | 11.53B | 11.78B | 13.38B | 13.38B |
| Retained Earnings | 2.75B | -1.78B | 0 | 0 | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -259M | -249M | -452M | -343M | -407M | -407M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
Cyclical NAND Pricing Volatility
As reported in recent financial statements, Sandisk's total assets expanded to $17.1B in 2026Q3, a significant increase from the $13.0B level maintained throughout 2025, signaling a rapid strengthening of the company's financial position as it emerges from the previous cyclical downturn.
The expansion in total assets, coupled with the complete elimination of debt, suggests a pivot toward a more conservative and resilient capital structure. This trajectory indicates that the company is successfully leveraging the current industry upcycle to fortify its balance sheet against future volatility.
Based on the latest quarterly filings, Sandisk has successfully reduced its total debt to zero as of 2026Q3, a marked improvement from the $2.1B in debt carried during 2025Q3, which significantly enhances the company's financial flexibility and reduces interest-related cash outflows.
The transition to a debt-free status appears to be a strategic move to mitigate the risks associated with the highly cyclical nature of the NAND flash market. Investors should monitor whether this capital allocation priority persists if the company decides to pursue inorganic growth or aggressive capacity expansion.
According to the 2026Q3 balance sheet, Sandisk holds $3.7B in cash, representing a substantial increase from the $1.5B held in 2025Q4, which provides a robust liquidity buffer that significantly exceeds the company's current short-term liabilities and operational requirements.
The current ratio of 4.78 indicates an exceptionally strong liquidity position, suggesting that the company is well-prepared to navigate potential market contractions. This cash accumulation appears to be a deliberate strategy to maintain operational independence during periods of industry-wide pricing pressure.
As indicated by the 2026Q3 financial data, equity has grown to $13.8B, driven by a significant turnaround in retained earnings which reached $2.7B, reversing the $1.8B deficit observed in 2025Q4 and reflecting a strong recovery in bottom-line performance.
The shift from negative retained earnings to a positive balance suggests that the company's core operations have become highly profitable, effectively rebuilding shareholder value. This improvement in equity quality warrants further investigation into whether management will initiate capital return programs such as dividends or share repurchases.
Quick answers to the most common questions about buying SNDK stock.
As of 2025, Sandisk Corporation (SNDK) had total assets of $12.98B including $5.09B in current assets.
Sandisk Corporation (SNDK) carries total debt of $2.04B, offset by $1.48B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Sandisk Corporation (SNDK) has total shareholders' equity (book value) of $9.22B ($63.56 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Sandisk Corporation (SNDK) reported a current ratio of 3.56x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.