Latest Ratios: P/E Ratio 6.6x · EV/EBITDA 5.6x · ROE 91.6%. (2016–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2016 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $123.7B | $270.5B | $6.6B | — | — | — | — | — |
| Enterprise Value | $119.3B | $266.1B | $7.1B | — | — | — | — | — |
| P/E Ratio → | 6.62 | 23.66 | — | — | — | — | — | — |
| P/S Ratio | 4.27 | 13.36 | 0.89 | — | — | — | — | — |
| P/B Ratio | 8.23 | 17.19 | 0.71 | — | — | — | — | — |
| P/FCF | 7.12 | 23.53 | — | — | — | — | — | — |
| P/OCF | 10.60 | 23.17 | 78.28 | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2016 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 13.14 | 0.97 | — | — | — | — | — |
| EV / EBITDA | 5.64 | 21.22 | — | — | — | — | — | — |
| EV / EBIT | 9.63 | 20.33 | — | — | — | — | — | — |
| EV / FCF | — | 23.15 | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2016 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 71.5% | 71.5% | 30.1% | 16.1% | 7.1% | 33.3% | 33.3% | 42.6% |
| Operating Margin | 61.2% | 61.2% | -18.7% | -7.0% | -33.4% | 12.3% | 12.3% | 11.1% |
| Net Profit Margin | 56.5% | 56.5% | -22.3% | -10.1% | -35.2% | 10.9% | 10.9% | 7.0% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2016 |
|---|---|---|---|---|---|---|---|---|
| ROE | 91.6% | 91.6% | -16.2% | -6.0% | -17.6% | 11.4% | 8.2% | 6.8% |
| ROA | 64.4% | 64.4% | -12.4% | -4.9% | -14.5% | 8.5% | 6.8% | 4.2% |
| ROIC | 87.9% | 87.9% | -9.6% | -2.9% | -11.9% | 9.0% | 6.6% | 7.2% |
| ROCE | 87.0% | 87.0% | -12.0% | -4.1% | -16.3% | 11.8% | 9.1% | 8.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2016 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.02 | 0.02 | 0.22 | 0.09 | 0.09 | 0.07 | 0.07 | 0.37 |
| Debt / EBITDA | 0.03 | 0.03 | — | — | — | 0.55 | 0.55 | 1.74 |
| Net Debt / Equity | — | -0.28 | 0.06 | 0.06 | 0.06 | 0.05 | 0.05 | 0.12 |
| Net Debt / EBITDA | -0.35 | -0.35 | — | — | — | 0.36 | 0.36 | 0.54 |
| Debt / FCF | — | -0.38 | — | — | — | 0.83 | 0.83 | 1.08 |
| Interest Coverage | 179.32 | 179.32 | -22.48 | -11.57 | -63.58 | 135.11 | 135.11 | — |
Net cash position: cash ($4.8B) exceeds total debt ($393M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2016 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.29 | 2.29 | 3.56 | 1.67 | 1.56 | 1.79 | 1.79 | 2.72 |
| Quick Ratio | 1.81 | 1.81 | 2.11 | 0.75 | 0.52 | 0.99 | 0.99 | 2.33 |
| Cash Ratio | 0.85 | 0.85 | 1.04 | 0.15 | 0.13 | 0.13 | 0.13 | 1.92 |
| Asset Turnover | — | 0.90 | 0.57 | 0.49 | 0.44 | 0.62 | 0.62 | 0.60 |
| Inventory Turnover | 2.14 | 2.14 | 2.47 | 2.86 | 2.49 | 3.27 | 3.27 | 3.95 |
| Days Sales Outstanding | — | 85.27 | 56.28 | 51.22 | 32.33 | 48.24 | 48.24 | 40.55 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2016 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | 48.6% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2016 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 15.1% | 4.2% | — | — | — | — | — | — |
| FCF Yield | 14.0% | 4.2% | — | — | — | — | — | — |
| Buyback Yield | 3.7% | 1.7% | 0.0% | — | — | — | — | — |
| Total Shareholder Yield | 3.7% | 1.7% | 0.0% | — | — | — | — | — |
| Shares Outstanding | — | $155M | $145M | $144M | $144M | $144M | $144M | $213M |
Includes 30+ ratios · 7 years · Updated daily
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10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying SNDK stock.
Sandisk Corporation's current P/E ratio is 6.6x. The historical average is 23.7x.
Sandisk Corporation's current EV/EBITDA is 5.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 21.2x.
Sandisk Corporation's return on equity (ROE) is 91.6%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 11.2%.
Based on historical data, Sandisk Corporation is trading at a P/E of 6.6x. Compare with industry peers and growth rates for a complete picture.
Sandisk Corporation has 71.5% gross margin and 61.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Sandisk Corporation's Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Cyclical memory pricing reversal
Metrics are mathematically derived from official filings.
Low Multiples Reflect Peak-Cycle Earnings
Based on reported figures, SNDK trades at a trailing P/E of 10.93 and forward P/E of 12.07, a discount to MU's 86.48 that suggests the market is pricing current earnings as cyclical rather than durable.
A P/E near 11 on trailing earnings that have swung from losses in 2025 to a 73.4% net margin in 2027Q1 indicates investors are capitalizing peak profit rather than a through-cycle average. The PEG of 0.19 looks unusually low, which may reflect skepticism that the growth rate is sustainable rather than genuine undervaluation. Investors should monitor whether forward estimates hold as pricing normalizes.
Margins Peak Far Above Peer Range
As reported in financial statements, SNDK's gross margin climbed to 85.0% and operating margin to 79.6% in 2027Q1, versus a 2025Q3 gross margin of 22.5%, a spread far beyond the peer range of roughly 6.6% to 26.1% net margin.
Operating margin expanded roughly 80 percentage points in six quarters, which points to memory pricing leverage rather than a structural shift in unit economics. The gap between operating margin of 79.6% and net margin of 73.4% is narrow, suggesting limited drag from interest or taxes at this scale. Net margin should be treated as a cyclical high-water mark, not a run-rate earning power estimate.
Returns Recovered From Near-Zero Base
According to reported figures, SNDK's ROIC rose from 0.1% in 2025Q4 to 53.6% in 2027Q1, while ROE reached 47.8%, but these returns were negligible for much of the prior two years.
The return profile is a recovery from a capital base that earned almost nothing through 2025, so the trend reflects profit recovery more than durable capital compounding. ROIC of 53.6% on a light asset base with minimal PP&E implies high turnover of invested capital during the upcycle. Investors should assess whether returns persist once pricing normalizes, since the base period offers little evidence of through-cycle returns.
Liquidity Rebuilt Above Peer Range
Based on SNDK's reported figures, the current ratio of 2.58 and quick ratio of 2.07 in 2027Q1 sit above the peer current-ratio range, a position that appears comfortable under present conditions.
A quick ratio of 2.07 with a current ratio of 2.58 indicates limited dependence on inventory to meet short-term obligations, which matters given DIO of 157 days. Liquidity improved sharply from a current ratio of 1.67 in 2024Q4, suggesting the cash buildup has been substantial. Under severe pricing stress, the adequacy of this buffer would depend on how quickly receivables and inventory convert during a downturn.
Peak Margins Unlikely to Persist
Based on the supplied data, the 2027Q1 ROIC of 53.6% and P/E of 10.93 may overstate durable earning power, since the same metrics were near zero through 2025 and memory pricing is inherently cyclical.
The most commonly misapplied metric here is trailing P/E, which appears low only because it capitalizes a single peak quarter. EV/EBITDA on normalized through-cycle EBITDA, or price to tangible book across a full cycle, would give a more reliable read on value. Investors should monitor whether the sharp margin reversal seen in 2025Q3 recurs, which would invalidate the current low-multiple thesis.