Sandisk Corporation (SNDK) FY2026 Financial Statements: Revenue $20.25B, Net income $11.43B
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PeriodFY2026
Published
Sandisk reported $20.25 billion in revenue for FY2026, the fiscal year ended July 3, 2026, up 175.3% from $7.36 billion a year earlier, and net income of $11.43 billion after a net loss of $1.64 billion in the prior fiscal year. Almost all of the revenue increase came from higher average selling prices per gigabyte rather than from higher volume, and gross margin reached 71.5%, up 41.4 points from 30.1%, as cost of revenue rose far more slowly than revenue; diluted earnings per share were $73.76 against a loss per share of $11.32. Operating cash flow was $11.67 billion, against a prior fiscal year in which operations were close to cash break-even, and the comparison with that year is not strictly like for like: Sandisk separated from Western Digital partway through it, and the year just ended carried an extra week.
| Metric | Amount | vs. year ago |
|---|---|---|
| Revenue | $20,248,000,000 | up 175.3% |
| Net income | $11,433,000,000 | swung from -$1.64 billion |
| Diluted EPS | $73.76 | swung from -$11.32 |
| Gross margin | 71.5% | up 41.4 points |
| Operating cash flow | $11,671,000,000 |
About this file
| Ticker | SNDK |
|---|---|
| CIK | 0002023554 |
| Company | Sandisk Corporation |
| Business type | industrial |
| Schema template | standard (technology hardware / semiconductor storage) |
| Reporting currency | USD |
| Converted to USD | no |
| Units | actual dollars (not millions) |
SNDK annual income statement, balance sheet and cash flow
| FY2026 | FY2025 | FY2024 | |
|---|---|---|---|
| Fiscal year | 2026 | 2025 | 2024 |
| Label | FY2026 | FY2025 | FY2024 |
| Period start | 2025-06-28 | 2024-06-29 | 2023-07-01 |
| Period end | 2026-07-03 | 2025-06-27 | 2024-06-28 |
| Period type | fiscal year (53 weeks) | fiscal year (52 weeks) | fiscal year (52 weeks) |
| Source accession | 0001628280-26-057406 | 0001628280-26-057406 | 0001628280-26-057406 |
| Income statement | |||
| Net revenue | 20,248,000,000 | 7,355,000,000 | 6,663,000,000 |
| Cost of revenue | 5,776,000,000 | 5,143,000,000 | 5,591,000,000 |
| Gross profit | 14,472,000,000 | 2,212,000,000 | 1,072,000,000 |
| Research and development | 1,328,000,000 | 1,132,000,000 | 1,061,000,000 |
| Selling general and administrative | 676,000,000 | 573,000,000 | 455,000,000 |
| Goodwill impairment | 0 | 1,830,000,000 | 0 |
| Loss on debt extinguishment | 46,000,000 | 0 | 0 |
| Business separation costs | 25,000,000 | 67,000,000 | 64,000,000 |
| Employee termination and other | -2,000,000 | 21,000,000 | -40,000,000 |
| Loss gain on business divestiture | 10,000,000 | -34,000,000 | 0 |
| Total operating expenses | 2,083,000,000 | 3,589,000,000 | 1,540,000,000 |
| Operating income | 12,389,000,000 | -1,377,000,000 | -468,000,000 |
| Total interest and other income expense net | 628,000,000 | -102,000,000 | -35,000,000 |
| Income before taxes | 13,017,000,000 | -1,479,000,000 | -503,000,000 |
| Income tax expense | 1,584,000,000 | 162,000,000 | 169,000,000 |
| Net income | 11,433,000,000 | -1,641,000,000 | -672,000,000 |
| Basic EPS | 77.78 | -11.32 | -4.63 |
| Diluted EPS | 73.76 | -11.32 | -4.63 |
| Basic shares | 147,000,000 | 145,000,000 | 145,000,000 |
| Diluted shares | 155,000,000 | 145,000,000 | 145,000,000 |
| Gain loss on equity securities | 808,000,000 | -2,000,000 | 1,000,000 |
| Interest income | 70,000,000 | 22,000,000 | 12,000,000 |
| Interest expense | -73,000,000 | -63,000,000 | -40,000,000 |
| Other income expense net | -177,000,000 | -59,000,000 | -8,000,000 |
| Gross margin % | 71.5% | 30.1% | 16.1% |
| Balance sheet | |||
| Cash and cash equivalents | 4,762,000,000 | 1,481,000,000 | |
| Accounts receivable net | 4,708,000,000 | 1,068,000,000 | |
| Inventories | 2,698,000,000 | 2,079,000,000 | |
| Total current assets | 12,780,000,000 | 5,086,000,000 | |
| Marketable equity securities | 1,777,000,000 | 0 | |
| Property plant and equipment net | 674,000,000 | 619,000,000 | |
| Goodwill | 4,994,000,000 | 4,999,000,000 | |
| Total assets | 22,507,000,000 | 12,985,000,000 | |
| Total current liabilities | 5,581,000,000 | 1,427,000,000 | |
| Current portion of long term debt | 0 | 20,000,000 | |
| Long term debt | 0 | 1,829,000,000 | |
| Total liabilities | 6,771,000,000 | 3,769,000,000 | |
| Total shareholders equity | 15,736,000,000 | 9,216,000,000 | |
| Total debt | 0 | 1,849,000,000 | |
| Cash flow | |||
| Depreciation and amortization | 149,000,000 | 163,000,000 | 224,000,000 |
| Stock based compensation | 232,000,000 | 182,000,000 | 149,000,000 |
| Operating cash flow | 11,671,000,000 | 84,000,000 | -309,000,000 |
| Capex | -177,000,000 | -204,000,000 | -166,000,000 |
| Investing cash flow | -1,386,000,000 | 556,000,000 | 210,000,000 |
| Financing cash flow | -7,001,000,000 | 518,000,000 | 136,000,000 |
| Repurchases of common stock | -4,524,000,000 | 0 | 0 |
| Free cash flow | 11,494,000,000 | -120,000,000 | -475,000,000 |
| Dividends paid | 0 | 0 | 0 |
| Revenue by end market | |||
| Datacenter | 5,153,000,000 | 960,000,000 | 325,000,000 |
| Edge | 12,160,000,000 | 4,127,000,000 | 4,069,000,000 |
| Consumer | 2,935,000,000 | 2,268,000,000 | 2,269,000,000 |
| Revenue by geography | |||
| Asia | 14,241,000,000 | 4,457,000,000 | 4,510,000,000 |
| Americas | 4,275,000,000 | 1,618,000,000 | 1,095,000,000 |
| Europe middle east and africa | 1,732,000,000 | 1,280,000,000 | 1,058,000,000 |
| Basis | as reported | as reported | as reported |
| Presentation basis | standalone consolidated: the whole of fiscal 2026 follows the February 21, 2025 separation from Western Digital Corporation. | part carve-out, part standalone: Sandisk separated from Western Digital Corporation on February 21, 2025, so fiscal 2025 comprises roughly eight months on a carve-out basis and the remainder on a standalone consolidated basis. | carve-out from Western Digital Corporation: Sandisk was an operating segment of WDC for the whole of fiscal 2024, and this column was prepared on a standalone basis using allocations and carve-out methodologies rather than as a separate legal entity's own accounts. |
SNDK quarterly income statement, balance sheet and cash flow
| Q4 FY2026 | Q3 FY2026 | Q4 FY2025 | Q3 FY2025 | |
|---|---|---|---|---|
| Fiscal year | 2026 | 2026 | 2025 | 2025 |
| Fiscal quarter | 4 | 3 | 4 | 3 |
| Label | Q4 FY2026 | Q3 FY2026 | Q4 FY2025 | Q3 FY2025 |
| Period start | 2026-04-04 | 2026-01-03 | 2025-03-29 | 2024-12-28 |
| Period end | 2026-07-03 | 2026-04-03 | 2025-06-27 | 2025-03-28 |
| Period type | three months | three months | three months | three months |
| Source accession | 0001628280-26-057406 | 0001628280-26-029401 | 0001628280-26-057406 | 0001628280-26-029401 |
| Income statement | ||||
| Net revenue | 8,965,000,000 | 5,950,000,000 | 1,901,000,000 | 1,695,000,000 |
| Cost of revenue | 1,383,000,000 | 1,288,000,000 | 1,403,000,000 | 1,313,000,000 |
| Gross profit | 7,582,000,000 | 4,662,000,000 | 498,000,000 | 382,000,000 |
| Research and development | 348,000,000 | 337,000,000 | 285,000,000 | 285,000,000 |
| Selling general and administrative | 197,000,000 | 161,000,000 | 162,000,000 | 139,000,000 |
| Goodwill impairment | 0 | 0 | 0 | 1,830,000,000 |
| Loss on debt extinguishment | 0 | 46,000,000 | 0 | 0 |
| Business separation costs | 0 | 7,000,000 | 17,000,000 | 9,000,000 |
| Employee termination and other | 0 | 0 | 16,000,000 | 0 |
| Loss gain on business divestiture | 0 | 0 | 0 | 0 |
| Total operating expenses | 545,000,000 | 551,000,000 | 480,000,000 | 2,263,000,000 |
| Operating income | 7,037,000,000 | 4,111,000,000 | 18,000,000 | -1,881,000,000 |
| Total interest and other income expense net | 812,000,000 | -4,000,000 | -36,000,000 | -20,000,000 |
| Income before taxes | 7,849,000,000 | 4,107,000,000 | -18,000,000 | -1,901,000,000 |
| Income tax expense | 946,000,000 | 492,000,000 | 5,000,000 | 32,000,000 |
| Net income | 6,903,000,000 | 3,615,000,000 | -23,000,000 | -1,933,000,000 |
| Interest income | 30,000,000 | 12,000,000 | 11,000,000 | 6,000,000 |
| Interest expense | -2,000,000 | -6,000,000 | -41,000,000 | -16,000,000 |
| Other income expense net | -20,000,000 | -10,000,000 | -5,000,000 | -10,000,000 |
| Gain loss on equity securities | 804,000,000 | -1,000,000 | ||
| Basic EPS | 46.96 | 24.43 | -0.16 | -13.33 |
| Diluted EPS | 43.97 | 23.03 | -0.16 | -13.33 |
| Basic shares | 147,000,000 | 148,000,000 | 145,000,000 | 145,000,000 |
| Diluted shares | 157,000,000 | 157,000,000 | 145,000,000 | 145,000,000 |
| Gross margin % | 84.6% | 78.4% | 26.2% | 22.5% |
| Balance sheet | ||||
| Cash and cash equivalents | 4,762,000,000 | 3,735,000,000 | 1,481,000,000 | |
| Accounts receivable net | 4,708,000,000 | 2,726,000,000 | 1,068,000,000 | |
| Inventories | 2,698,000,000 | 2,238,000,000 | 2,079,000,000 | |
| Total current assets | 12,780,000,000 | 9,168,000,000 | 5,086,000,000 | |
| Marketable equity securities | 1,777,000,000 | 0 | ||
| Property plant and equipment net | 674,000,000 | 649,000,000 | 619,000,000 | |
| Goodwill | 4,994,000,000 | 4,994,000,000 | 4,999,000,000 | |
| Total assets | 22,507,000,000 | 17,075,000,000 | 12,985,000,000 | |
| Total current liabilities | 5,581,000,000 | 1,917,000,000 | 1,427,000,000 | |
| Current portion of long term debt | 0 | 0 | 20,000,000 | |
| Long term debt | 0 | 0 | 1,829,000,000 | |
| Total liabilities | 6,771,000,000 | 3,298,000,000 | 3,769,000,000 | |
| Total shareholders equity | 15,736,000,000 | 13,777,000,000 | 9,216,000,000 | |
| Total debt | 0 | 0 | 1,849,000,000 | |
| Cash flow | ||||
| Depreciation and amortization | 37,000,000 | 36,000,000 | ||
| Stock based compensation | 67,000,000 | 49,000,000 | ||
| Operating cash flow | 7,126,000,000 | 94,000,000 | ||
| Capex | -43,000,000 | -45,000,000 | ||
| Investing cash flow | -1,123,000,000 | -17,000,000 | ||
| Financing cash flow | -4,976,000,000 | -102,000,000 | ||
| Free cash flow | 7,083,000,000 | 49,000,000 | ||
| Dividends paid | 0 | 0 | ||
| Repurchases of common stock | -4,524,000,000 | 0 | ||
| Revenue by end market | ||||
| Datacenter | 2,977,000,000 | 1,467,000,000 | 213,000,000 | 197,000,000 |
| Edge | 5,432,000,000 | 3,663,000,000 | 1,103,000,000 | 927,000,000 |
| Consumer | 556,000,000 | 820,000,000 | 585,000,000 | 571,000,000 |
| Revenue by geography | ||||
| Asia | 6,391,000,000 | 4,272,000,000 | 1,183,000,000 | 1,038,000,000 |
| Americas | 2,147,000,000 | 1,209,000,000 | 411,000,000 | 375,000,000 |
| Europe middle east and africa | 427,000,000 | 469,000,000 | 307,000,000 | 282,000,000 |
| Basis | derived | as reported | derived | as reported |
| Derived from | 0001628280-26-057406; 0001628280-26-029401; 0001628280-26-053346 | 0001628280-26-057406; 0001628280-26-029401; 0001628280-26-053346 | ||
| Derivation | most line items are the fiscal 2026 column (year ended July 3, 2026) of the FY2026 10-K (accession 0001628280-26-057406) less the corresponding nine-month column (nine months ended April 3, 2026) of the third-quarter report (accession 0001628280-26-029401). Seven fields are not derived that way but taken as printed from Sandisk's fourth-quarter fiscal 2026 earnings release (accession 0001628280-26-053346): gain (loss) on equity securities, other income (expense) net, basic and diluted earnings per share and basic and diluted weighted-average share counts come from the three months ended July 3, 2026 column of the consolidated statements of operations in that release, and gross margin percentage is the Q4 2026 GAAP gross margin in its quarterly financial highlights table. Weighted-average share counts and per-share amounts do not add or subtract across periods, so they cannot be derived. The balance sheet shown is the fiscal year-end balance sheet at July 3, 2026 as printed in the 10-K. | most line items are the fiscal 2025 column (year ended June 27, 2025) of the FY2026 10-K (accession 0001628280-26-057406) less the corresponding prior-year nine-month comparative column (nine months ended March 28, 2025) of the third-quarter report (accession 0001628280-26-029401). Seven fields are not derived that way but taken as printed from Sandisk's fourth-quarter fiscal 2026 earnings release (accession 0001628280-26-053346): gain (loss) on equity securities, other income (expense) net, basic and diluted loss per share and basic and diluted weighted-average share counts come from the three months ended June 27, 2025 comparative column of the consolidated statements of operations in that release, and gross margin percentage is the Q4 2025 GAAP gross margin in its quarterly financial highlights table. Weighted-average share counts and per-share amounts do not add or subtract across periods, so they cannot be derived. The balance sheet shown is the June 27, 2025 comparative column of the balance sheet in the FY2026 10-K, which is Sandisk's fiscal 2025 year-end balance sheet. | ||
| Presentation basis | standalone consolidated: the whole of fiscal 2026 follows the February 21, 2025 separation from Western Digital Corporation. | standalone consolidated: the whole of fiscal 2026 follows the February 21, 2025 separation from Western Digital Corporation. | standalone: the quarter began after the February 21, 2025 separation from Western Digital Corporation, but it is derived from a fiscal 2025 total that is part carve-out. | part carve-out, part standalone: the quarter ended March 28, 2025 spans the February 21, 2025 separation from Western Digital Corporation. |
SNDK year-to-date income statement and cash flow
| Fiscal 2026 to date (year complete) | |
|---|---|
| Fiscal year | 2026 |
| Label | Fiscal 2026 to date (year complete) |
| Period start | 2025-06-28 |
| Period end | 2026-07-03 |
| Period type | fiscal year to date |
| Source accession | 0001628280-26-057406 |
| Income statement | |
| Net revenue | 20,248,000,000 |
| Cost of revenue | 5,776,000,000 |
| Gross profit | 14,472,000,000 |
| Research and development | 1,328,000,000 |
| Selling general and administrative | 676,000,000 |
| Goodwill impairment | 0 |
| Loss on debt extinguishment | 46,000,000 |
| Business separation costs | 25,000,000 |
| Employee termination and other | -2,000,000 |
| Loss gain on business divestiture | 10,000,000 |
| Total operating expenses | 2,083,000,000 |
| Operating income | 12,389,000,000 |
| Total interest and other income expense net | 628,000,000 |
| Income before taxes | 13,017,000,000 |
| Income tax expense | 1,584,000,000 |
| Net income | 11,433,000,000 |
| Basic EPS | 77.78 |
| Diluted EPS | 73.76 |
| Basic shares | 147,000,000 |
| Diluted shares | 155,000,000 |
| Gain loss on equity securities | 808,000,000 |
| Interest income | 70,000,000 |
| Interest expense | -73,000,000 |
| Other income expense net | -177,000,000 |
| Gross margin % | 71.5% |
| Balance sheet | |
| Cash and cash equivalents | 4,762,000,000 |
| Accounts receivable net | 4,708,000,000 |
| Inventories | 2,698,000,000 |
| Total current assets | 12,780,000,000 |
| Marketable equity securities | 1,777,000,000 |
| Property plant and equipment net | 674,000,000 |
| Goodwill | 4,994,000,000 |
| Total assets | 22,507,000,000 |
| Total current liabilities | 5,581,000,000 |
| Current portion of long term debt | 0 |
| Long term debt | 0 |
| Total liabilities | 6,771,000,000 |
| Total shareholders equity | 15,736,000,000 |
| Total debt | 0 |
| Cash flow | |
| Depreciation and amortization | 149,000,000 |
| Stock based compensation | 232,000,000 |
| Operating cash flow | 11,671,000,000 |
| Capex | -177,000,000 |
| Investing cash flow | -1,386,000,000 |
| Financing cash flow | -7,001,000,000 |
| Repurchases of common stock | -4,524,000,000 |
| Free cash flow | 11,494,000,000 |
| Dividends paid | 0 |
| Revenue by end market | |
| Datacenter | 5,153,000,000 |
| Edge | 12,160,000,000 |
| Consumer | 2,935,000,000 |
| Revenue by geography | |
| Asia | 14,241,000,000 |
| Americas | 4,275,000,000 |
| Europe middle east and africa | 1,732,000,000 |
| Presentation basis | standalone consolidated: the whole of fiscal 2026 follows the February 21, 2025 separation from Western Digital Corporation. |
| Note | Sandisk's most recent filing is the annual report, so the fiscal year is complete and this view coincides exactly with fiscal 2026 as reported in the annual section. |
SNDK trailing twelve month income statement and cash flow
| Trailing twelve months to July 3, 2026 | |
|---|---|
| Fiscal year | 2026 |
| Label | Trailing twelve months to July 3, 2026 |
| Period start | 2025-06-28 |
| Period end | 2026-07-03 |
| Period type | trailing twelve months |
| Source accession | 0001628280-26-057406 |
| Income statement | |
| Net revenue | 20,248,000,000 |
| Cost of revenue | 5,776,000,000 |
| Gross profit | 14,472,000,000 |
| Research and development | 1,328,000,000 |
| Selling general and administrative | 676,000,000 |
| Goodwill impairment | 0 |
| Loss on debt extinguishment | 46,000,000 |
| Business separation costs | 25,000,000 |
| Employee termination and other | -2,000,000 |
| Loss gain on business divestiture | 10,000,000 |
| Total operating expenses | 2,083,000,000 |
| Operating income | 12,389,000,000 |
| Total interest and other income expense net | 628,000,000 |
| Income before taxes | 13,017,000,000 |
| Income tax expense | 1,584,000,000 |
| Net income | 11,433,000,000 |
| Basic EPS | 77.78 |
| Diluted EPS | 73.76 |
| Basic shares | 147,000,000 |
| Diluted shares | 155,000,000 |
| Gain loss on equity securities | 808,000,000 |
| Interest income | 70,000,000 |
| Interest expense | -73,000,000 |
| Other income expense net | -177,000,000 |
| Gross margin % | 71.5% |
| Balance sheet | |
| Cash and cash equivalents | 4,762,000,000 |
| Accounts receivable net | 4,708,000,000 |
| Inventories | 2,698,000,000 |
| Total current assets | 12,780,000,000 |
| Marketable equity securities | 1,777,000,000 |
| Property plant and equipment net | 674,000,000 |
| Goodwill | 4,994,000,000 |
| Total assets | 22,507,000,000 |
| Total current liabilities | 5,581,000,000 |
| Current portion of long term debt | 0 |
| Long term debt | 0 |
| Total liabilities | 6,771,000,000 |
| Total shareholders equity | 15,736,000,000 |
| Total debt | 0 |
| Cash flow | |
| Depreciation and amortization | 149,000,000 |
| Stock based compensation | 232,000,000 |
| Operating cash flow | 11,671,000,000 |
| Capex | -177,000,000 |
| Investing cash flow | -1,386,000,000 |
| Financing cash flow | -7,001,000,000 |
| Repurchases of common stock | -4,524,000,000 |
| Free cash flow | 11,494,000,000 |
| Dividends paid | 0 |
| Revenue by end market | |
| Datacenter | 5,153,000,000 |
| Edge | 12,160,000,000 |
| Consumer | 2,935,000,000 |
| Revenue by geography | |
| Asia | 14,241,000,000 |
| Americas | 4,275,000,000 |
| Europe middle east and africa | 1,732,000,000 |
| Presentation basis | standalone consolidated: the whole of fiscal 2026 follows the February 21, 2025 separation from Western Digital Corporation. |
| Note | The trailing twelve months end on the fiscal year end, so this view coincides exactly with fiscal 2026 as reported in the annual section. It covers 53 weeks rather than 52, because fiscal 2026 carried the extra week Sandisk adds every five to six years. |
Adjustments
| Value | |
|---|---|
| Splits applied | none |
| ADR ratio | n/a |
| FX | none, the company reports in U.S. dollars |
| Note | No stock split is on record for Sandisk and the company is not an American depositary receipt issuer, so per-share figures are reported exactly as the filings print them. |
Prior year to date
| Fiscal 2025 to date (year complete) | |
|---|---|
| Fiscal year | 2025 |
| Label | Fiscal 2025 to date (year complete) |
| Period start | 2024-06-29 |
| Period end | 2025-06-27 |
| Period type | fiscal year to date |
| Source accession | 0001628280-26-057406 |
| Income statement | |
| Net revenue | 7,355,000,000 |
| Cost of revenue | 5,143,000,000 |
| Gross profit | 2,212,000,000 |
| Research and development | 1,132,000,000 |
| Selling general and administrative | 573,000,000 |
| Goodwill impairment | 1,830,000,000 |
| Loss on debt extinguishment | 0 |
| Business separation costs | 67,000,000 |
| Employee termination and other | 21,000,000 |
| Loss gain on business divestiture | -34,000,000 |
| Total operating expenses | 3,589,000,000 |
| Operating income | -1,377,000,000 |
| Total interest and other income expense net | -102,000,000 |
| Income before taxes | -1,479,000,000 |
| Income tax expense | 162,000,000 |
| Net income | -1,641,000,000 |
| Basic EPS | -11.32 |
| Diluted EPS | -11.32 |
| Basic shares | 145,000,000 |
| Diluted shares | 145,000,000 |
| Gain loss on equity securities | -2,000,000 |
| Interest income | 22,000,000 |
| Interest expense | -63,000,000 |
| Other income expense net | -59,000,000 |
| Gross margin % | 30.1% |
| Balance sheet | |
| Cash and cash equivalents | 1,481,000,000 |
| Accounts receivable net | 1,068,000,000 |
| Inventories | 2,079,000,000 |
| Total current assets | 5,086,000,000 |
| Marketable equity securities | 0 |
| Property plant and equipment net | 619,000,000 |
| Goodwill | 4,999,000,000 |
| Total assets | 12,985,000,000 |
| Total current liabilities | 1,427,000,000 |
| Current portion of long term debt | 20,000,000 |
| Long term debt | 1,829,000,000 |
| Total liabilities | 3,769,000,000 |
| Total shareholders equity | 9,216,000,000 |
| Total debt | 1,849,000,000 |
| Cash flow | |
| Depreciation and amortization | 163,000,000 |
| Stock based compensation | 182,000,000 |
| Operating cash flow | 84,000,000 |
| Capex | -204,000,000 |
| Investing cash flow | 556,000,000 |
| Financing cash flow | 518,000,000 |
| Repurchases of common stock | 0 |
| Free cash flow | -120,000,000 |
| Dividends paid | 0 |
| Revenue by end market | |
| Datacenter | 960,000,000 |
| Edge | 4,127,000,000 |
| Consumer | 2,268,000,000 |
| Revenue by geography | |
| Asia | 4,457,000,000 |
| Americas | 1,618,000,000 |
| Europe middle east and africa | 1,280,000,000 |
| Presentation basis | part carve-out, part standalone: Sandisk separated from Western Digital Corporation on February 21, 2025, so fiscal 2025 comprises roughly eight months on a carve-out basis and the remainder on a standalone consolidated basis. |
| Note | The comparative view, coinciding exactly with fiscal 2025 as reported in the annual section. Fiscal 2025 is part carve-out and part standalone, and it was a 52-week year against fiscal 2026's 53 weeks. |
Notes
- Figures come from three documents Sandisk filed with the SEC. The FY2026 annual report on Form 10-K for the fiscal year ended July 3, 2026 (accession 0001628280-26-057406, filed August 17, 2026) supplies the fiscal 2026, 2025 and 2024 annual columns and the year-end balance sheets. The quarterly report on Form 10-Q for the third quarter of fiscal 2026, ended April 3, 2026 (accession 0001628280-26-029401, filed May 1, 2026), supplies the two third quarters, the April 3, 2026 balance sheet and the nine-month columns subtracted from the annual columns to derive the two fourth quarters. Sandisk's fourth-quarter fiscal 2026 earnings release, furnished on Form 8-K on August 5, 2026 (accession 0001628280-26-053346), supplies the figures those subtractions cannot produce: for both the fourth quarter of fiscal 2026 and the comparative fourth quarter of fiscal 2025, the per-share amounts, weighted-average share counts, gain (loss) on equity securities, other income (expense) net and gross margin percentage are taken as printed in that release, whose fourth-quarter columns also corroborate the derived fourth-quarter figures. The annual report is the most recent of the three, so the company's latest completed period is the full fiscal year rather than a quarter.
- Sandisk's fiscal year ends on the Friday nearest to June 30. Fiscal 2026 was a 53-week year ended July 3, 2026, with a 14-week first quarter; fiscal 2025 (ended June 27, 2025) and fiscal 2024 (ended June 28, 2024) were each 52 weeks. The extra week in fiscal 2026 makes that year one week longer than the two years it is compared with.
- Basis of presentation, and why the years are not a clean like-for-like series: Sandisk became a standalone public company on February 21, 2025, when it separated from Western Digital Corporation. Fiscal 2024 and the period of fiscal 2025 up to the separation are carve-out financial statements derived from Western Digital's accounting records, using allocations of corporate overhead and shared costs; the 10-K states these allocations may not reflect the expenses Sandisk would have incurred as a standalone company. Only fiscal 2026, and fiscal 2025 from February 22, 2025 onward, are standalone consolidated results. Each period in this record carries a 'presentation_basis' saying which applies. The carve-out periods also carry no Western Digital debt or related interest expense, because Sandisk was neither obligor nor transferee on it.
- Balance sheet coverage: the 10-K prints balance sheets as of July 3, 2026 and June 27, 2025 only, so fiscal 2024 carries an income statement and cash flow statement but no balance sheet. The 10-Q prints a balance sheet as of April 3, 2026 (and, again, June 27, 2025), so the quarter ended March 28, 2025 carries no balance sheet.
- The fourth quarters of fiscal 2026 and fiscal 2025 are DERIVED: neither the annual report nor the quarterly report prints a fourth-quarter column of its own, so each is the fiscal-year total in the 10-K less the corresponding nine-month cumulative column in the 10-Q (for fiscal 2026, revenue of $20,248 million less $11,283 million; for fiscal 2025, $7,355 million less $5,454 million). Those derivations were then checked against the fourth-quarter columns Sandisk prints in its quarterly earnings releases, accession 0001628280-26-053346 for fiscal 2026 and accession 0001193125-25-180782 for fiscal 2025, and agree with them. The balance sheet shown against each derived fourth quarter is the fiscal year-end balance sheet as printed in the 10-K. Per-share amounts and weighted-average share counts for the derived quarters are taken from those earnings releases, which print them, rather than derived, because weighted-average share counts do not add across periods.
- Three independent checks corroborate the derived fourth quarter of fiscal 2026. Most directly, Sandisk published the quarter itself: its earnings release of August 5, 2026 (accession 0001628280-26-053346) prints a fourth-quarter statement of operations and statement of cash flows matching the derived figures. Retained earnings also move from an accumulated deficit of $1,784 million at June 27, 2025 to $2,746 million at April 3, 2026 and $9,649 million at July 3, 2026, implying fourth-quarter net income of $6,903 million, exactly the derived figure. And cash and cash equivalents rise from $3,735 million to $4,762 million over the same quarter, a $1,027 million increase matching the derived operating, investing and financing cash flows of $7,126 million, $(1,123) million and $(4,976) million.
- No quarterly cash flow statement is shown for either third quarter. The 10-Q presents cash flows on a nine-month cumulative basis only, and the six-month figures needed to isolate the third quarter are not in either filing.
- Revenue, net rose 175% to $20,248 million in fiscal 2026 from $7,355 million in fiscal 2025, and gross margin widened from 30.1% to 71.5%. The 10-K attributes the increase chiefly to higher average selling prices per gigabyte, with total products sold up by a mid-teens percentage on an exabyte basis. Datacenter revenue rose to $5,153 million from $960 million.
- Gross margin is carried as a percentage of revenue on every period, and each figure is one the company prints rather than a ratio computed here. The annual percentages, 71.5% for fiscal 2026, 30.1% for fiscal 2025 and 16.1% for fiscal 2024, come from the '% of net revenue' column of the results of operations table in Management's Discussion and Analysis in the 10-K; the third-quarter percentages, 78.4% for fiscal 2026 and 22.5% for fiscal 2025, come from the same table in the 10-Q; and the fourth-quarter percentages, 84.6% for fiscal 2026 and 26.2% for fiscal 2025, come from the GAAP gross margin line of Sandisk's fourth-quarter earnings release (accession 0001628280-26-053346). The year-to-date, prior-year-to-date and trailing-twelve-month views repeat the fiscal-year percentages, because each of those views covers a complete fiscal year. Because a margin is itself a percentage, a change in it is properly read in percentage points: fiscal 2026 gained 41.4 points on fiscal 2025.
- Fiscal 2025 included a $1,830 million goodwill impairment, recorded in the quarter ended March 28, 2025, which accounts for most of that year's $1,641 million net loss.
- Debt: Sandisk repaid $1,900 million of borrowings during the nine months ended April 3, 2026 and recorded a $46 million loss on debt extinguishment. It reports no current portion of long-term debt and no long-term debt at either April 3, 2026 or July 3, 2026, against $1,849 million in total at June 27, 2025.
- Total debt is stated as the current portion of long-term debt plus long-term debt, and free cash flow as net cash provided by operating activities less purchases of property, plant and equipment; neither is a line the filings print.
- Sandisk paid no dividend in any period presented, financing activities show no dividend line in fiscal 2026, 2025 or 2024, so dividends paid is reported as zero. The company repurchased 3 million shares for $4,537 million during fiscal 2026 ($4,524 million of cash paid), all of it in the fourth quarter: the April 3, 2026 balance sheet carries no treasury stock and the nine-month financing activities show no repurchase.
- Interest and other income for fiscal 2026 includes an $808 million gain on equity securities, net. Of that total, $807 million is the unrealized mark on the marketable equity securities purchased for $970 million during the year and carried at $1,777 million at July 3, 2026; none of that gain was realized, as those shares are subject to a three-year statutory lock-up. The remaining $1 million comes from the other strategic equity investments that share this line, the same line printed $(2) million in fiscal 2025 and $1 million in fiscal 2024, before any of the marketable equity securities were held, and the 10-K does not itemize it. Split by period rather than by holding, the same $808 million is $804 million in the fourth quarter of fiscal 2026 and $4 million earlier in the year. The two cuts agree: none of the marketable equity securities appear on the April 3, 2026 balance sheet, the shares having been received in the fourth quarter, so the whole $807 million falls in that quarter, while the other investments contributed the $4 million earlier in the year and about $(3) million within the fourth quarter itself. The interim statements do not present this caption separately.
- Revenue by end market and by geography is taken from the disaggregated revenue tables in Management's Discussion and Analysis in each filing; the components add to consolidated revenue in every period shown. Sandisk manages its business as a single reportable operating segment, so these are disaggregations rather than segment results.
- The 10-K states that certain prior period presentations were reclassified to conform to the current presentation, contract liabilities and refund liabilities out of accrued expenses, and non-current income tax payable out of other liabilities, each now shown as its own balance sheet line, together with a reclassification in the segment note. The filing states these changes do not affect any previously reported results.
- The year-to-date and trailing-twelve-month views repeat fiscal 2026 rather than adding a period: because the most recent filing is the annual report, the fiscal year is complete, so both views end on July 3, 2026 and cover the same 53 weeks. The prior-year-to-date view is fiscal 2025 on the same basis.
Uncertainties
- The fourth-quarter periods are arithmetic derivations rather than columns the annual or quarterly report prints: each is a fiscal-year column less the matching nine-month column. Sandisk does publish those quarters, in its fourth-quarter earnings releases, and the derived figures were compared with them and agree line for line, the release of August 5, 2026 (accession 0001628280-26-053346) prints fourth-quarter fiscal 2026 revenue of $8,965 million and net income of $6,903 million, and the release of August 14, 2025 (accession 0001193125-25-180782) prints fourth-quarter fiscal 2025 revenue of $1,901 million and a net loss of $23 million, each matching the derived record. What remains uncertain is only that those release columns are condensed and unaudited, so line items below revenue and net income may be grouped there differently from the way this derivation splits them.
- Fiscal 2024 and the pre-separation part of fiscal 2025 are carve-out results that depend on Western Digital's cost allocations, so year-over-year comparisons that cross the February 21, 2025 separation are not strictly like for like. The 10-K says explicitly that it is not practicable to estimate the costs Sandisk would actually have incurred as a standalone company in those periods.
- Fiscal 2026 was a 53-week year and fiscal 2025 a 52-week year, so growth rates between the two carry one extra week of trading in the numerator. The extra week fell in the first quarter of fiscal 2026, so the fourth-quarter comparison is week-for-week.
- No balance sheet is reported for fiscal 2024 or for the quarter ended March 28, 2025, because neither filing prints one for those dates. No quarterly cash flow statement is reported for either third quarter, for the same reason.
Company details
| Value | |
|---|---|
| Name | Sandisk Corp |
| Ticker | SNDK |
| CIK | 0002023554 |
| Exchange | Nasdaq |
| State | California |
| Incorporation | Delaware |
| SIC | 3572 |
| Office | Technology |
| Industry | Computer Storage Devices |
Fiscal period
| FY2026 | |
|---|---|
| Fiscal year | 2026 |
| Fiscal period | FY |
| Tag | FY26 |
| Period end | 2026-07-03 |
| Form | 10-K |
| Accession | 0001628280-26-057406 |
| Fiscal year end | 0628 |
| Source | facts |
FAQ · Sandisk financial statements
How much revenue did Sandisk report in FY2026?
Sandisk reported $20.25 billion in revenue for FY2026, the fiscal year ended July 3, 2026, up 175.3% from $7.36 billion a year earlier. Sandisk attributes almost all of that increase to higher average selling prices per gigabyte rather than to higher volume, with total products sold up only a mid-teens percentage on an exabyte basis, and FY2026 was a 53-week year against 52 weeks a year earlier, so a small part of the increase is the extra week.
Was Sandisk profitable in FY2026?
Yes. Sandisk earned net income of $11.43 billion in FY2026, the fiscal year ended July 3, 2026, after a net loss of $1.64 billion in the prior fiscal year that included a goodwill impairment charge and the months before Sandisk separated from Western Digital.
What was Sandisk's earnings per share in FY2026?
Sandisk reported diluted earnings per share of $73.76 for FY2026, the fiscal year ended July 3, 2026, against a loss per share of $11.32 a year earlier. The prior year is not a clean comparison, because it spans Sandisk's separation from Western Digital.
What was Sandisk's gross margin in FY2026?
Sandisk reported a gross margin of 71.5% for FY2026, the fiscal year ended July 3, 2026, up 41.4 points from 30.1% a year earlier. Revenue rose far faster than cost of revenue, and Sandisk attributes the widening to higher selling prices rather than to lower costs.
Where can I get Sandisk Corporation (SNDK) financial data in machine-readable form?
Ticker Scout publishes Sandisk Corporation's financial statements as JSON at https://tickerscout.ai/sndk/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/sndk/narrative.md and https://tickerscout.ai/sndk/events.md. Sandisk Corporation's SEC CIK is 0002023554. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.
When does Sandisk Corporation (SNDK) next file with the SEC?
Sandisk Corporation (SNDK) is expected to file its next Form 10-Q with the SEC on or around November 6, 2026. That date is a projection rather than a company-announced date: it is derived from Sandisk Corporation's own filing history with the SEC, by taking the date the company filed the same fiscal period a year earlier and adding 52 weeks. The most recent periodic report on file is the 10-K for FY2026, the period ended 2026-07-03, SEC accession 0001628280-26-057406.
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How this page was built
This page was built from four of Sandisk Corporation's own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names four such gaps.
A single company files thousands of pages with the SEC in a year, and no two companies file them the same way, so the reading and the assembly here are done by AI rather than by rules that break on the differences. Every pass is then audited back against the filings it came from before the page is published, and anything the filings do not support is left out and named rather than filled in. AI can still make mistakes. That is why the accession numbers are printed: the filing is the authority, and this page is a route to it.
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Built from Sandisk Corporation's SEC filings by Ticker Scout; accession numbers are cited throughout so every figure can be checked against sec.gov. Free to cite with attribution: Ticker Scout (tickerscout.ai). Not investment advice, see the Disclaimer.