SNDK
Sandisk Corporation
Quarterly revenue, EPS, free cash flow, valuation, and Rule of 40 scores for Sandisk Corporation.
Sandisk Corporation develops, manufactures, and sells NAND flash data-storage devices and solutions, including SSDs for PCs, gaming, and data center; embedded flash for mobile, automotive, IoT, and industrial uses; and removable cards, USB drives, wafers, and components.
Coverage
Microsoft's Code of Conduct Contains No Capex Number. The Market Repriced Capacity Prices Anyway.
Microsoft's MAI Code of Conduct runs 15,203 words and never says compute. The capacity sellers fell 5-7% on it; flat prices cost our bases 19.5% to 41.7%.
SK hynix Approved ₩54T of Fabs Before a ₩40T Buyback. That Is Not Capacity Discipline.
SK hynix's ₩40T buyback reads as capacity discipline — but its board approved ₩54.3T of fabs on August 7, and that capacity lands in 2028, the bear-case year.
Sandisk Guided to $8.25 Billion and Printed $8.97 Billion at an 84.6% Gross Margin
Sandisk's FQ4: revenue $8.97B, up 372%, past its own high end. GAAP EPS $43.97 above non-GAAP $39.25. Gross margin 84.6%. The Rule of 40 stops discriminating.
Sandisk Heads Into Q4 FY2026 Earnings After a Record Quarter and a Brutal July Selloff
Sandisk's fiscal Q3 2026 revenue surged 251% on AI-driven datacenter SSD demand, but the stock has since round-tripped from a 1,000%+ post-spinoff run to a 55% peak-to-trough plunge and back. We preview the August 5 Q4 report and the NAND-pricing debate at the center of the swings.
Where the revenue goes next
Latest: $8.96B (2026Q4)
| Period | Value |
|---|---|
| 2025Q4 | $1.90B |
| 2026Q1 | $2.31B |
| 2026Q2 | $3.03B |
| 2026Q3 | $5.95B |
| 2026Q4 | $8.96B |
Latest: $43.97 (2026Q4)
| Period | Value |
|---|---|
| 2025Q4 | $0.29 |
| 2026Q1 | $1.22 |
| 2026Q2 | $6.20 |
| 2026Q3 | $23.41 |
| 2026Q4 | $43.97 |
Latest: 16.7 (2026Q4)
| Period | Value |
|---|---|
| 2026Q3 | 24.4 |
| 2026Q4 | 16.7 |
Latest: $7.08B (2026Q4)
| Period | Value |
|---|---|
| 2025Q4 | $49M |
| 2026Q1 | $438M |
| 2026Q2 | $980M |
| 2026Q3 | $2.99B |
| 2026Q4 | $7.08B |
Latest: 157M (2026Q4)
| Period | Value |
|---|---|
| 2025Q2 | 145M |
| 2025Q4 | 145M |
| 2026Q1 | 149M |
| 2026Q2 | 156M |
| 2026Q3 | 157M |
| 2026Q4 | 157M |
Latest: $11.54B (2026Q4)
| Period | Value |
|---|---|
| 2025Q4 | $49M |
| 2026Q1 | $487M |
| 2026Q2 | $1.47B |
| 2026Q3 | $4.46B |
| 2026Q4 | $11.54B |
Latest earnings
Company History
SanDisk is founded as a pioneer in flash memory storage technology, later becoming a household name in memory cards and USB drives.
Western Digital completes its roughly $19 billion acquisition of SanDisk, folding the flash memory business into its storage portfolio.
Western Digital completes the separation of its Flash business on February 21, 2025, distributing 80.1% of Sandisk Corporation shares to WDC stockholders; Sandisk begins regular-way trading on Nasdaq under 'SNDK' on February 24, 2025.
Datacenter SSD demand tied to AI infrastructure buildouts drives explosive revenue and margin growth, with Sandisk signing tens of billions of dollars in long-term supply agreements even as NAND spot-price volatility later triggers a sharp stock pullback.
Key Players
The CEO view — 2 podcasts, interviews & articles →
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Funds we follow holding SNDK
By latest reported 13F position value. Market value at quarter-end, not cost basis.
