Sandisk Corporation · 2026 Q4
ReportedAug 5, 2026
Period endedJul 3, 2026
Rule of 40+451
Consensus vs reported
EPS · NON-GAAP
BEAT +17%
$38.82
vs $33.28 expected
QoQ—
YoY—
Revenue
BEAT +8%
$8.96B
vs $8.30B expected
QoQ+50.7%
YoY+371.6%
QoQ and YoY are measured on the same basis as each panel's own consensus, so no panel compares two different measures.
Reported this quarter
Revenue
$8.96B
QoQ +50.7%
YoY +371.6%
EPS
$43.97
QoQ +87.8%
YoY —
Free Cash Flow
$7.08B
QoQ +136.7%
YoY —
Gross Margin
84.6%
QoQ +6.2 pp
YoY —
FCF Margin
79.0%
QoQ +28.7 pp
YoY +76.4 pp
Each tile opens the full quarterly series. Download the numbers as CSV or JSON.
What we learned
- All three pre-registered bars cleared, two of them by margins that make "beat" meaningless. Revenue $8.97B — 8.7% above the top of its own $7.75–8.25B guide , non-GAAP EPS $39.25 — 19% above the $33.00 high end and ~15% above the ~$34 consensus, and gross margin expanded to 84.6% from 78.4%.
- Beating your own guidance high end by 8.7% five weeks after issuing it is a statement about the price deck, not about execution.
- GAAP EPS came in above non-GAAP, at $43.97 against $39.25 — a comparison that almost never runs that way, on GAAP net income of $6.90B.
- The Rule of 40 stops discriminating at a cyclical peak. 372 points of growth plus whatever the cash half proves to be, against a score above 300 last quarter. A 400 and a 300 both mean the same thing — NAND pricing is extraordinary — and neither says when it stops.
- Read the gross margin instead. 84.6% , against Sandisk's own FY25 Q4 in the twenties. Memory makers do not structurally earn eighty-four points, and five quarters ago this was a $1.9B business earning twenty-nine cents a share.
Coverage around this release
R40
SK hynix Approved ₩54 Trillion of New Fabs Twelve Days Before Its ₩40 Trillion Buyback. The Buyback Is Not Capacity Discipline.
News · Aug 19, 2026
R40
Sandisk Guided to $8.25 Billion and Printed $8.97 Billion at an 84.6% Gross Margin
News · Aug 5, 2026
R40
Sandisk Heads Into Q4 FY2026 Earnings After a Record Quarter and a Brutal July Selloff
News · Jul 30, 2026
News
Sandisk Shares Jump 26% After Sharp July Selloff
News
Sandisk Plunges Roughly 55% From Its June Peak Amid NAND Spot-Price and Competition Fears
Estimate against reported
Our published estimate
Reported EPS
| Quarter | Estimate | Reported | Surprise |
|---|---|---|---|
| 2025 Q4 | — | $0.29 | — |
| 2026 Q1 | — | $1.22 | — |
| 2026 Q2 | — | $6.20 | — |
| 2026 Q3 | — | $23.41 | — |
| 2026 Q4 | $33.28 | $38.82 | +17% |
Estimates are the consensus we published on our own preview for that quarter; quarters we did not preview carry the reported figure only. Where a consensus was set on a non-GAAP basis, the reported column shows that same measure.
Sources & downloads
Company
Published by the company on the day of the release.
HTML
Earnings press release
Investor relations announcement
SEC filings
Filed with the SEC under CIK 2023554.
JSON
Company facts (XBRL)
Every figure SNDK has reported to the SEC
R40 data
The numbers shown on this page, as we hold them.
CSV
This quarter (CSV)
Reported metrics for 2026 Q4, spreadsheet-ready
JSON
This quarter (JSON)
Metrics, dates and matched filings