SanDisk Corp (SNDK)
NASDAQ:SNDK
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SanDisk Corp
(NASDAQ:SNDK)
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Rating:56Neutral
Price Target:
$635.00
▲(3.11% Upside)
Action:ReiteratedDate:02/03/26
The score is held back mainly by weak underlying profitability/cash flow in the financial statements and an unattractive earnings-based valuation (negative P/E). These are partly offset by strong earnings-call guidance and momentum signals in the chart, though overbought indicators add near-term technical risk.
Positive Factors
Strong revenue growth and data-center adoption
SanDisk reported a sizable revenue inflection (Q2 $3.025B, +61% YoY) alongside accelerating data-center sales (large sequential increases). This indicates durable, diversified end-market demand—consumer, edge and hyperscaler adoption—that supports multi‑quarter revenue momentum beyond short-term cycles.
Negative Factors
Weak historical profitability and cash conversion
Despite recent beats, SanDisk has struggled with negative net profit margins and poor cash conversion historically (operating cash flow to net income ~0.06). Persistent negative returns and low cash conversion create longer‑term risks to reinvestment capacity and require sustained margin/cash improvement to normalize financial stability.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue growth and data-center adoption
SanDisk reported a sizable revenue inflection (Q2 $3.025B, +61% YoY) alongside accelerating data-center sales (large sequential increases). This indicates durable, diversified end-market demand—consumer, edge and hyperscaler adoption—that supports multi‑quarter revenue momentum beyond short-term cycles.
Read all positive factors
SanDisk Corp (SNDK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$90.90B
Dividend YieldN/A
Average Volume (3M)18.98M
Price to Earnings (P/E)12.6
Beta (1Y)2.45
Revenue Growth10.94%
EPS Growth-3155.05%
CountryUS
Employees12,000
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)6.20
Shares Outstanding147,600,970
10 Day Avg. Volume19,214,506
30 Day Avg. Volume18,977,245
Financial Highlights & Ratios
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 Cap0.99
Enterprise Value/Revenue10.10
Enterprise Value/Gross Profit29.01
Enterprise Value/Ebitda-153.09
Forecast
1Y Price Target
$700.00Price Target Upside13.67% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering15
EPS Forecast (FY)40.1
Revenue Forecast (FY)$15.53B
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 compo...
How the Company Makes Money
SanDisk made money primarily by selling NAND-flash-based storage products and solutions, with revenue driven by (1) consumer retail products (e.g., removable flash memory cards and USB flash drives sold through retailers, distributors, and online ...
SanDisk Corp Key Performance Indicators (KPIs)
SanDisk Corp Earnings Call Summary
Earnings Call Date:Jan 29, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:May 13, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational and financial momentum: sizable revenue and EPS beats, dramatic margin expansion, robust cash generation, accelerating data center adoption, product qualifications and JV extension. The company also highlighted persistent supply shortages, the need to prioritize customers and secure multiyear commercial commitments, and material near-term cash/COGS obligations tied to the JV. While capacity expansion is constrained by long lead times and management requires durable customer commitments before increasing capital intensity, the balance of outcomes is positive given the magnitude of revenue, margin, and cash-flow improvements and confident guidance for the next quarter.Positive Updates
Strong Revenue Beat and Growth
Recorded Q2 revenue of $3.025 billion, up 31% sequentially and 61% year-over-year, exceeding guidance of $2.55B–$2.65B.
Negative Updates
Supply Shortage and Allocation Constraints
Demand meaningfully exceeded supply in the quarter; company unable to fulfill all customer demand and is prioritizing strategic, multiyear customers—allocation environment expected to persist beyond calendar year 2026.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Revenue Beat and Growth
Recorded Q2 revenue of $3.025 billion, up 31% sequentially and 61% year-over-year, exceeding guidance of $2.55B–$2.65B.
Read all positive updates
Company Guidance
Management guided third-quarter revenue of $4.4–$4.8 billion (vs. Q2 revenue of $3.025B), saying the market should be even more undersupplied than in Q2 and that bids are expected down mid-single digits; they forecast non‑GAAP gross margin of 65–67% (Q2 was 51.1%), non‑GAAP operating expenses of $450–$470M (Q2 OpEx was $413M), non‑GAAP interest & other expense of $25–$30M, non‑GAAP tax expense of $325–$375M, and non‑GAAP EPS of $12–$14 assuming 157 million diluted shares; they reiterated their capital plan to support mid‑to‑high‑teens average long‑term bit growth and noted no under‑utilization charges in the guide.SanDisk Corp Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
55
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jul 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 8.93B | 7.36B | 6.66B | 6.09B | 9.75B | 9.75B |
| Gross Profit | 3.11B | 2.21B | 1.07B | 430.00M | 3.24B | 3.24B |
| EBITDA | -589.00M | -1.25B | -239.00M | -1.52B | 1.74B | 1.74B |
| Net Income | -1.04B | -1.64B | -672.00M | -2.14B | 1.06B | 1.06B |
Balance Sheet | ||||||
| Total Assets | 13.00B | 12.98B | 13.51B | 13.82B | 15.76B | 15.76B |
| Cash, Cash Equivalents and Short-Term Investments | 1.54B | 1.48B | 328.00M | 292.00M | 335.00M | 335.00M |
| Total Debt | 813.00M | 2.04B | 985.00M | 1.02B | 950.00M | 950.00M |
| Total Liabilities | 2.79B | 3.77B | 2.42B | 2.38B | 2.78B | 2.78B |
| Stockholders Equity | 10.21B | 9.22B | 11.08B | 11.44B | 12.98B | 12.98B |
Cash Flow | ||||||
| Free Cash Flow | 1.45B | -120.00M | -475.00M | -932.00M | 741.00M | 741.00M |
| Operating Cash Flow | 1.63B | 84.00M | -309.00M | -713.00M | 1.15B | 1.15B |
| Investing Cash Flow | 207.00M | 556.00M | 210.00M | -189.00M | -472.00M | -472.00M |
| Financing Cash Flow | -1.10B | 518.00M | 136.00M | 860.00M | -650.00M | -650.00M |
SanDisk Corp Technical Analysis
Positive
615.83
Price Trends
173.74
Positive
113.20
Positive
Market Momentum
13.02
Positive
53.49
Neutral
36.68
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 615.83 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 Risk Analysis
SanDisk Corp disclosed 58 risk factors in its most recent earnings report. SanDisk Corp reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
SanDisk Corp Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $23.83B | 23.76 | 16.83% | ― | 0.77% | 0.51% | |
72 Outperform | $59.31B | 22.78 | 16.50% | 1.21% | 8.94% | -39.90% | |
69 Neutral | $27.57B | 31.64 | 58.99% | 0.14% | 13.18% | -38.37% | |
63 Neutral | $45.65B | 48.81 | 3.58% | ― | 20.80% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
59 Neutral | $16.60B | 30.16 | 6.90% | 0.43% | -8.96% | -30.29% | |
56 Neutral | $90.90B | 12.60 | -10.97% | ― | 10.94% | -3155.05% |
* Technology Sector Average
SNDK
SanDisk Corp
615.83
568.22
1193.49%
FLEX
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64.80
31.72
95.89%
COHR
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274.93%
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261.10
125.24
92.19%
TEL
TE Connectivity
202.14
62.83
45.10%
FTV
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53.92
-0.96
-1.75%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.