Sandisk
Develops NAND flash storage for datacenters, edge devices, and consumers.
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Profile
Develops NAND flash storage spanning enterprise and client SSDs, embedded products, memory cards, USB drives, and portable SSDs for datacenter, edge-device, and consumer markets. Most revenue comes from outside the United States, while substantially all flash memory is supplied by joint ventures with Kioxia in Japan.
Develops NAND flash storage for three end markets: Datacenter, Edge, and Consumer. Enterprise solid-state drives serve cloud infrastructure and AI workloads; client SSDs and embedded products go into PCs, mobile devices, gaming systems, vehicles, and connected equipment. Retail offerings include memory cards, USB drives, and portable SSDs sold through global channels.
Combines co-developed flash memory with controllers designed primarily in-house and product firmware, then sells to equipment makers, cloud providers, distributors, and retailers worldwide. Most sales come from international customers, with substantial activity in Asia. Substantially all flash memory is sourced from jointly controlled ventures with Kioxia in Japan, tying supply, manufacturing economics, and technology development to that partnership.
Company facts
Key statistics
Year to date +439% · Average volume (30d) 14.9M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 25, 2026 | Mizuho Securities | Target | $1,900 | $1,875 | ||
| Aug 14, 2026 | RBC Capital | Reiterate | Sector Perform | $1,300 | $1,600 | |
| Aug 14, 2026 | UBS | Reiterate | Overweight | $1,700 | $1,750 | |
| Aug 14, 2026 | Mizuho Securities | Target | $2,200 | $1,900 | ||
| Aug 13, 2026 | Goldman Sachs | Reiterate | Buy | $1,200 | $2,200 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q4 FY26 | $34.96 | $39.25 | +12.3% | $8.48B | $8.97B | +5.7% | −6.81% |
| Apr 30, 2026Q3 FY26 | $14.62 | $23.41 | +60.1% | $4.72B | $5.95B | +26.1% | +8.25% |
| Jan 29, 2026Q2 FY26 | $3.62 | $6.20 | +71.3% | $2.69B | $3.03B | +12.6% | +6.85% |
| Nov 6, 2025Q1 FY26 | $0.88 | $1.22 | +38.2% | $2.15B | $2.31B | +7.2% | +15.31% |
Financial highlights
| 12 quarters | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.70B | $1.90B | $2.31B | $3.03B | $5.95B | $8.97B | |
| Gross profit | $382.0M | $498.0M | $687.0M | $1.54B | $4.66B | $7.58B | |
| Operating income | −$42.0M | $18.0M | $192.0M | $1.08B | $4.11B | $7.01B | |
| Net income | −$1.93B | −$23.0M | $112.0M | $803.0M | $3.62B | $6.90B | |
| Diluted EPS | −$13.33 | −$0.16 | $0.75 | $5.15 | $23.03 | $44.83 | |
| Gross margin | 22.5% | 26.2% | 29.8% | 50.9% | 78.4% | 84.6% | |
| Operating margin | -2.5% | 0.9% | 8.3% | 35.5% | 69.1% | 78.2% |
Fiscal years (4-quarter sums)FY24 $6.66B · FY25 $7.36B · FY26 $20.25B
Revenue by product · Q4 FY26
Revenue by geography · Q4 FY26
Balance sheet, Jul 3, 2026Cash & short-term investments $4.76B · Total debt $393.0M · Total assets $22.51B · Shareholders' equity $15.74B
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 148.09M · Float 146.00M · 98.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 10.30M | 6.95% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 9.67M | 6.53% | 13F | Aug 13, 2026 |
| FMR LLC | 7.86M | 5.31% | 13F | Aug 13, 2026 |
| Western Digital Corp · 10 percent owner | 7.51M | 5.07% | Form 4 | Jun 9, 2025 |
| Jane Street Group, LLC | 7.41M | 5.00% | 13G | Aug 5, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 3, 2026 | Bernard Shek | officer: Chief Legal Officer & Secty | −600 | $1,162.16 |
| Jul 1, 2026 | Bernard Shek | officer: Chief Legal Officer & Secty | −600 | $2,088.00 |
| Jun 3, 2026 | Bernard Shek | officer: Chief Legal Officer & Secty | −600 | $1,736.00 |
| Jun 1, 2026 | Alper Ilkbahar | officer: EVP, Chief Technology Officer | −2,000 | $1,756.58 |
| May 12, 2026 | Michael Pokorny | officer: VP, Chief Accounting Officer | −2,446 | $1,426.18 |
Peers
- Micron Technology
~13% NAND share; 9550 SSD and G9 NAND contest enterprise and consumer storage.
- Western Digital
Former SanDisk parent; pure-play HDD competing for data center storage budgets.
- Seagate Technology
HAMR-HDD leader competing for AI data center storage at 6–7x lower cost/TB.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Sandisk | $1,483.30 | −0.08% | $219.91B | 20.1 | 7.1 | 10.9 | +371.6% |
| Micron Technology | $931.00 | −0.20% | $1.05T | 21.1 | 6.5 | 11.7 | +345.7% |
| Western Digital | $460.35 | +0.15% | $158.36B | 18.5 | 22.4 | 12.3 | +43.8% |
| Seagate Technology | $829.30 | −0.06% | $186.06B | 59.7 | 22.9 | 15.3 | +48.5% |
| Median | 21.1 | 22.4 | 12.3 | +48.5% |