SanDisk Corp (SNDK) AI Stock Analysis

• Market Cap: $60.62B
• Dividend Yield: N/A
• Average Volume (3M): 9.71M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.42
• Revenue Growth: 10.94%
• EPS Growth: -3155.05%
• Country: US
• Employees: 12,000
• Sector: Technology
• Sector Strength: 88
• Industry: Hardware, Equipment & Parts
• EPS (TTM): 1.22
• Shares Outstanding: 146,553,180
• 10 Day Avg. Volume: 15,584,057
• 30 Day Avg. Volume: 9,713,458
• PEG Ratio: -0.03
• Price to Book (P/B): 0.74
• Price to Sales (P/S): 0.93
• P/FCF Ratio: -56.97
• Enterprise Value/Market Cap: 0.32
• Enterprise Value/Revenue: 2.47
• Enterprise Value/Gross Profit: 8.86
• Enterprise Value/Ebitda: -13.75
• 1Y Price Target: $348.07
• Price Target Upside: -15.85% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 15
• EPS Forecast (FY): 13.59
• Revenue Forecast (FY): $10.70B

• Rating: 55 Neutral
• Price Target: $424.00 ▲(2.51% Upside)

The score reflects a pull between weak reported financial performance (losses and challenged cash flow) and a very strong, upbeat earnings call with improving margins, strong adjusted free cash flow, and higher near-term guidance. Technicals are supportive but overbought, and valuation is pressured by a negative P/E with no dividend yield provided.

Positive Factors

Revenue Growth & Diversified End Markets

Sustained double-digit revenue growth across quarters indicates expanding market share and healthy demand across consumer, client and enterprise segments. Durable multi-end-market exposure reduces single-market risk and supports scale benefits that can improve long-term margins and negotiating leverage.

Data Center Momentum & Hyperscale Relationships

Growing data center sales and direct engagement with multiple hyperscalers signal durable, high-volume demand for enterprise flash. These customer relationships typically yield multi-year contracts, predictable demand and higher ASPs, strengthening revenue visibility and margin sustainability over several quarters.

Technology Advantage — BiCS8 Adoption

Adoption of BiCS8—offering higher capacity, I/O and energy efficiency—provides a structural cost-per-bit and performance advantage as production scales. Leading-edge process momentum can drive durable mix improvement, enable premium product positioning and support sustained gross margin expansion.

Negative Factors

Negative Profitability & Weak ROE

Despite revenue gains, ongoing negative margins and a deeply negative ROE indicate the company is not converting sales into shareholder returns. Persistently unprofitable operations constrain reinvestment capacity, limit strategic flexibility and increase sensitivity to cost or pricing shocks over the medium term.

Weak Operating Cash Conversion

Very low operating cash conversion means reported earnings do not translate into durable cash generation. This limits internal funding for capex, R&D and inventory needs, increasing reliance on financing and raising vulnerability to cyclical downturns or capital-intensive technology transitions.

Exposure to NAND Cyclicality

The business is structurally exposed to NAND supply/demand swings and consumer seasonality, which cause volatile pricing and margin pressure. This cyclicality can lead to earnings volatility, inventory re-pricing risk and planning challenges that persist across multiple quarters.

SanDisk Corp Business Overview & Revenue Model

Company Description

SanDisk Corp. engages in the development, manufacture, and provision of storage devices and solutions on NAND flash technology. Its products include solid state drives. embedded products, removable cards, universal series bus, and wafers and components. The company was founded on June 1, 1988 and is headquartered in Milipitas, CA.

How the Company Makes Money

SanDisk generates revenue primarily through the sale of its flash memory products, including SSDs, memory cards, and USB drives. The company operates on a business-to-business (B2B) and business-to-consumer (B2C) model, selling directly to consumers through retail channels and to businesses through partnerships with OEMs (original equipment manufacturers) and system integrators. Key revenue streams include consumer products, enterprise storage solutions, and licensing of its technology. Additionally, SanDisk benefits from strategic partnerships with major technology firms, enhancing its distribution network and increasing market penetration. The demand for high-capacity and high-speed storage solutions in emerging technologies such as cloud computing, IoT (Internet of Things), and mobile devices further contributes to its earnings.

SanDisk Corp Financial Statement Overview

Summary

SanDisk Corp shows mixed financial performance. Strong revenue growth is overshadowed by negative profitability and cash flow metrics. The balance sheet remains stable with low leverage, but operational inefficiencies need addressing.

Income Statement

SanDisk Corp has experienced significant revenue growth over the past year, with a 333.92% increase. However, profitability metrics are concerning, with negative net profit and EBIT margins indicating ongoing operational challenges. The gross profit margin improved to 30.07%, but the company still faces substantial losses.

Balance Sheet

The company's debt-to-equity ratio remains low at 0.22, suggesting a conservative leverage position. However, the negative return on equity of -17.81% indicates that the company is not generating positive returns for shareholders. The equity ratio is stable, reflecting a solid capital structure.

Cash Flow

SanDisk's cash flow situation is challenging, with negative free cash flow and a low operating cash flow to net income ratio of 0.06. Although there was a significant improvement in free cash flow growth, the company is still struggling to generate positive cash flow from operations.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	7.36B	6.66B	6.09B	9.75B	9.75B
Gross Profit	2.21B	1.07B	430.00M	3.24B	3.24B
EBITDA	-1.25B	-220.00M	-847.00M	1.74B	1.74B
Net Income	-1.64B	-672.00M	-2.14B	1.06B	1.06B
Balance Sheet
Total Assets	12.98B	13.51B	13.82B	15.76B	15.76B
Cash, Cash Equivalents and Short-Term Investments	1.48B	328.00M	292.00M	335.00M	335.00M
Total Debt	2.04B	996.00M	1.02B	950.00M	950.00M
Total Liabilities	3.77B	2.42B	2.38B	2.78B	2.78B
Stockholders Equity	9.22B	11.08B	11.44B	12.98B	12.98B
Cash Flow
Free Cash Flow	-120.00M	-475.00M	-932.00M	741.00M	741.00M
Operating Cash Flow	84.00M	-309.00M	-713.00M	1.15B	1.15B
Investing Cash Flow	556.00M	210.00M	-189.00M	-472.00M	-472.00M
Financing Cash Flow	518.00M	136.00M	860.00M	-650.00M	-650.00M

SanDisk Corp Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 413.62
• 50DMA: Positive
• 100DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SNDK, the sentiment is Positive. The current price of 413.62 is above the 20-day moving average (MA) of 231.19, above the 50-day MA of 173.74, and equal to the 200-day MA of ―, indicating a neutral trend. The MACD of 13.02 indicates Positive momentum. The RSI at 53.49 is Neutral, neither overbought nor oversold. The STOCH value of 36.68 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SNDK.

SanDisk Corp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TEL	80 Outperform	$70.74B	39.12	14.78%	1.21%	8.94%	-39.90%
FLEX	74 Outperform	$23.97B	28.61	17.45%	―	0.77%	0.51%
JBL	73 Outperform	$26.54B	39.09	47.87%	0.14%	13.18%	-38.37%
FTV	72 Outperform	$17.46B	31.38	7.79%	0.43%	-8.96%	-30.29%
COHR	66 Neutral	$30.02B	275.31	3.08%	―	20.80%	―
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
SNDK	55 Neutral	$60.62B	―	―	―	10.94%	-3155.05%