# Sandisk Corporation Common Stock (SNDK) — Stock CV

Sandisk Corporation is a $228B technology company. Revenue grew 175.3% over the last year, it keeps 56¢ of every dollar of sales as profit, and it holds more cash than debt. It trades at 20.0× earnings.

> Sandisk is one of the five largest suppliers of NAND flash memory semiconductors globally. Sandisk is vertically integrated, producing substantially all of its flash chips at manufacturing sites across Japan via a joint-venture framework with Kioxia.

## Identity

- **Ticker**: SNDK
- **Sector**: Technology
- **Industry**: Computer Storage Devices
- **Headquarters**: MILPITAS, CA
- **Employees**: 11 100
- **Website**: https://www.sandisk.com
- **Market cap**: $228B
- **Last price**: $1 580.31
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $20.2B
- **Net income**: $11.4B
- **Free cash flow**: $11.5B
- **Net cash**: $4.56B
- **P/E**: 20.0
- **Revenue growth (YoY)**: 175.3%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 49 |
| Growth | 75 |
| Profitability | 100 |
| Health | 50 |
| Quality | 75 |
| Moat | 18 |

## Qualifications (beginner checklist) — 8 of 10 passed

- [x] Revenue growing — +175.3% YoY
- [x] Profitable — $11.4B TTM
- [x] Profit growing — +796.7% YoY
- [x] Generates cash — $11.5B TTM
- [x] Debt under control — more cash than debt
- [x] Established company — $228B market cap
- [x] Not printing shares — +6.9% shares over ~5y
- [ ] Proven track record — 2/5 profitable years
- [ ] Financially stable — health score 25/100
- [x] Valuation not extreme — P/E 20.0

## Experience (career milestones)

- **FY2026** — Revenue crossed $10B: $20.2B for the year
- **FY2026** — Became debt-free: cash now exceeds total debt
- **FY2026** — Best year on record: $11.4B net income
- **2026** — It was announced that the WD-branded "Blue" and "Black" SSDs products by Sandisk would be rebranded…
- **2024** — SanDisk unveiled a new pixel-inspired logo, replacing a design used in various forms since 1995
- **FY2022** — First recorded profitable year: $1.06B net income
- **FY2022** — Revenue already above $1B: $9.75B in first reported year
- **May 12, 2016** — The acquisition was completed on May 12, 2016; the valuation was lowered to $16 billion after Chinese company…
- **2015** — Western Digital announced its intent to acquire SanDisk for $19 billion
- **2014** — SanDisk acquired Fusion-io, a producer of flash memory for enterprise data centers, for $1.1 billion
- **2006** — As soon as 2006, they became the second largest maker of digital audio players in the United States behind Apple
- **2005** — SanDisk entered the digital audio player market with the release of its first flash-based MP3 player, the…
- **Nov 8, 1995** — SunDisk changed its name to SanDisk to avoid confusion with Sun Microsystems
- **1992** — SunDisk introduced FlashDisk, a series of memory cards made for the PCMCIA or PC Card form factor, so they…
- **1988** — Founded in 1988, it designs and manufactures flash memory products, including memory cards, USB flash drives

## Strengths

- High gross margin (71.5%)
- Strongly profitable — 56.5% net margin
- Revenue growing 175.3% year over year
- Strong cash conversion — FCF is 56.8% of revenue
- Net cash position after subtracting debt from cash

## Watch-outs

- Thin interest coverage (-35.1×)
- Loss-making in 3 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2022 | $9.75B | $1.06B | $741M |
| FY2023 | $6.09B | -$2.14B | -$932M |
| FY2024 | $6.66B | -$672M | -$475M |
| FY2025 | $7.36B | -$1.64B | -$120M |
| FY2026 | $20.2B | $11.4B | $11.5B |

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Source: https://stockcv.com/SNDK — derived from company filings; may be delayed or incomplete. Information, not investment advice.