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Sandisk Corporation

Rank #43HypergrowthWatchlistCompare with other stocks

SNDK · Nasdaq · Technology

Sandisk Corporation (SNDK) — Rank #43 by gross profitability (GP/assets 0.64) · ROE 72.7% · Piotroski F-Score 7 / 9.

As-of 2026-10-30 · CIK 0002023554 · all metrics point-in-time as of the filing date.

About

Sandisk Corporation develops, manufactures, and sells data storage devices and solutions using NAND flash technology in the Americas, Europe, the Middle East, Africa, Asia, and internationally.

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The company provides solid state drives for desktop and notebook PCs, gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs and other portable and wearable devices, automotive applications, Internet of Things, industrial, and connected home applications, as well as removable cards, universal serial bus drives, and wafers and components. It sells its products to computer manufacturers and original equipment manufacturers, datacenters, private cloud customers, cloud service providers, resellers, distributors, and retailers through its sales personnel, dealers, distributors, retailers, and subsidiaries.

Sandisk Corporation was incorporated in 2024 and is based in Milpitas, California.

Industry
Computer Hardware
Sector
Technology
State
DE
Filer Category
Large accelerated filer
Fiscal Year End
June 28

Company Snapshot

P/S is the primary valuation lens — earnings are reinvested, not available for P/E.

Market Cap

—

P/E (annual)

—

P/S (annual)

—

P/B

—

P/OCF (annual)

—

Shareholder Yield

—

Employees

11,100

Industry

Computer Hardware

Exchange

Nasdaq

11/12

Flags passed

SNDK passes 11/12 quality flags

1 caution to review

  • CAUTION
    Dilution above 2%

    Annual share count increase exceeds 2%. May be acceptable for high-growth companies funding talent via stock compensation

  • PASS
    Gross margin holding
  • PASS
    FCF not negative from investment
  • PASS
    Disclosure consistent
  • PASS
    Revenue not declining
  • PASS
    Operating margin holding
  • PASS
    Free cash flow intact
  • PASS
    Passes safety gate
  • PASS
    Balance sheet stable
  • PASS
    No competitive retreat
  • PASS
    SBC not compressing margin
  • PASS
    No valuation convergence

Strengths Revenue growth accelerating · Deferred revenue growing

A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.

Quality Profile

Profitability

1/1 pass
GP / assets
0.64
Return on equity
72.7%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
0.43
Current ratio
2.29×
Net cash
$4.76B

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
1.1%

Growth

1/2 pass
Revenue growth
175.3%
Piotroski F-Score
7 / 9
Share dilution
6.9%

Revenue growth and the path to profitability (margin trend) are the primary reads at this stage.

Profitability

Does it make money well?

No warning flags · GP/assets 96th percentile of 26 SIC 35 peers

Gross profitability (GP / assets)

0.64

Primary signal (Novy-Marx).

96th pctl of 26 SIC 35 peers

Return on equity

72.7%

Gross margin

71.5%

96th pctl of 26 SIC 35 peers

Revenue growth (YoY)

175.3%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2023202420252026
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

49.3%

Revenue CAGR (5Y)

—

Earnings CAGR (3Y)

—

FCF CAGR (3Y)

—

Cash Flow Health

Is the cash real?

No warning flags · FCF 1% above net income

Free cash flow

$11.49B

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF vs net income

0.5%

(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.

FCF not below net income

Fails when free cash flow is below net income (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

1.1%

Stock-based comp intensity.

Balance Sheet Strength

Can it survive a storm?

Caution: Dilution above 2% · net cash $4.76B, F-Score 7/9

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

0.43

88th pctl of 26 SIC 35 peers (best = lowest)

Current ratio

2.29×

60th pctl of 26 SIC 35 peers

Quick ratio

1.70×

Net cash

$4.76B

Cash & equivalents minus total debt.

Piotroski F-Score

7 / 9

Fundamental-strength score (0-9).

Valuation

Is the price reasonable?

No warning flags

Valuation History

Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.

P / S

Price / revenue per share

13.7xExpensive
0.9xmed 1.0x13.7x

P / B

Price / book value per share

17.6xExpensive
0.6xmed 0.7x17.6x

P / GP

Price / gross profit per share

19.1xExpensive
3.0xmed 10.7x19.1x

Capital allocation quality

Composite score

2.7 / 5

Fair
Share count trend
6.9%0/5 Weak
Buyback timing
N/AN/A
Dividend growth consistency(non-payer or broken streak)
0 yr3/5 Good
Net debt trajectory(deleveraging)
22.8%5/5 Strong

Lifecycle Phase History

20232026
Startup
Hypergrowth

Price History

SNDK+4771.2% · +1017.7% CAGRSPY+28.3% · +16.7% CAGR

View full financial statements →

Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports