Sandisk
What matters nowUpdated 5 h ago
- Sandisk reports fiscal first-quarter 2027 results on October 29, 2026, with a conference call at 1:30 p.m. Pacific Time, the next test of its August revenue guidance of $10.30–$10.80 billion 1.
- SNDK trades at $1,449.23 on the pooled 24/7 venue price, down 0.57% from the previous close. The stock rose 11.1% on September 18 as buying ahead of its S&P 100 inclusion effective September 21 lifted shares 2, and rose 6.78% on September 22 after Rosenblatt initiated coverage at Buy with a $2,400 target 3.
- Fiscal 2026 revenue was $20.25 billion, up 175%, with Datacenter revenue up 437% to $5.15 billion and Edge revenue up 195% to $12.16 billion. Trailing gross, operating and net margins were 71.5%, 61.2% and 56.5% at the July 3, 2026 fiscal year-end.
- At a market capitalization of $211.6 billion, the stock trades at 19.8 times trailing earnings and a 5.4% free-cash-flow yield on trailing twelve-month figures to July 3, 2026.
- Insiders sold 84,124 shares worth $131.3 million in the last 180 days across 14 sales, 11 of them under planned trading plans, with no insider purchases; CEO David Goeckeler sold 33,841 shares on September 17 under a Rule 10b5-1 plan 4. The annual proxy was filed on October 6 ahead of a virtual annual meeting on November 17, 2026 5.
- Next: first samples of High Bandwidth Flash memory are targeted for the second half of 2026, and first AI inference devices using HBF are expected as samples in early 2027. The September CPI report is due October 14, 2026, and Polymarket gives 81.5% odds that the Fed makes no rate change after its October 2026 meeting.
Sandisk newsroom · Sep 29
The Motley Fool · Sep 18
24/7 Wall St. · Sep 22
SEC Form 4 · Sep 17
SEC EDGAR · Oct 6
Sandisk designs and sells NAND flash memory and storage products: data-center SSDs for servers, cloud and AI workloads; embedded and client flash for PCs, phones, cars and industrial devices; and consumer storage such as portable SSDs, memory cards and USB drives. It was separated from Western Digital on February 21, 2025 and trades on Nasdaq as SNDK. Fiscal 2026 (ended July 3, 2026) revenue was $20.25 billion, up 175%, with Datacenter revenue up 437%.
How it makes money
Sandisk sells NAND flash chips, wafers and finished storage products to PC and phone makers, cloud and enterprise server buyers, automotive and industrial customers, and retail channels. Fiscal 2026 revenue split by end market was Edge 60.1%, Datacenter 25.4% and Consumer 14.5%. Most of its flash wafers come from Flash Ventures, the joint ventures with Kioxia in Japan in which Sandisk holds a 49.9% interest. NAND pricing moves with supply and demand, so traders watch contract prices, bit shipments and capacity spending alongside reported revenue and margins.
Last 12 monthsChart & venues →
Valuation & fundamentalsFull financials →
TTM through 2026-07-03 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price. Quarterly statements →
Biggest businessesAll products & projects →
Datacenter SSDs
Datacenter revenue was $5.15 billion in fiscal 2026, up 437%, and $2.98 billion in the June quarter, up 103% from the March quarter.
Edge (PC, console, mobile, automotive and IoT flash)
Edge was the largest end market in fiscal 2026 at $12.16 billion, up 195%.
Consumer (portable SSDs, cards and USB drives)
Consumer revenue was $2.94 billion in fiscal 2026, up 29%, and fell 32% sequentially in the June quarter.
Flash Ventures wafer supply with Kioxia
All of Sandisk's flash wafers come from eight Japanese fabs run through joint ventures with Kioxia; the joint-venture terms were extended to December 31, 2034.
Latest newsAll news →
Sandisk sets fiscal Q1 2027 results and call for October 29, 2026
Sandisk announced on September 29, 2026 that it will report fiscal first-quarter 2027 results on October 29, with a conference call at 1:30 p.m.
Rosenblatt starts Sandisk at Buy with $2,400 target; shares rise about 6%
Rosenblatt Securities initiated coverage of Sandisk at Buy with a $2,400 price target on September 22, 2026.
Sandisk jumps as much as 7.8% ahead of S&P 100 inclusion
Sandisk shares rose as much as 7.8% intraday on September 18, 2026, and were still up about 7.5% around midday.
CEO David Goeckeler sells 33,841 Sandisk shares under a 10b5-1 plan
Sandisk CEO and Chair David Goeckeler sold 33,841 shares on September 17, 2026, at weighted average prices of about $1,567 to $1,587.
S&P Dow Jones Indices adds Sandisk to the S&P 100, effective September 21
S&P Dow Jones Indices announced on September 4, 2026 that Sandisk will join the S&P 100, replacing Colgate-Palmolive before the open on September 21.
TrendForce sees top-five enterprise SSD brands' revenue doubling to $37.59 billion in Q2 2026
TrendForce projected that the combined revenue of the top five enterprise SSD brands would rise 103.6% quarter over quarter to $37.59 billion in the second quarter of 2026.
Products & businesses
Datacenter SSDs
Datacenter revenue was $5.15 billion in fiscal 2026, up 437%, and $2.98 billion in the June quarter, up 103% from the March quarter.
Edge (PC, console, mobile, automotive and IoT flash)
Edge was the largest end market in fiscal 2026 at $12.16 billion, up 195%.
Consumer (portable SSDs, cards and USB drives)
Consumer revenue was $2.94 billion in fiscal 2026, up 29%, and fell 32% sequentially in the June quarter.
Flash Ventures wafer supply with Kioxia
All of Sandisk's flash wafers come from eight Japanese fabs run through joint ventures with Kioxia; the joint-venture terms were extended to December 31, 2034.
What it's building next
High Bandwidth Flash (HBF) memory
The first HBF specification was published in early August 2026, and first memory samples are targeted for the second half of 2026.
Next: First HBF memory samples to customers · 2026-12-31
AI inference devices with HBF
Sandisk expects samples of the first AI inference devices using HBF in early 2027.
Next: First AI inference devices with HBF expected to be available as samples · 2027-01-01
Segments
| Segment | Revenue | Share | |
|---|---|---|---|
| Edge Flash for PCs, gaming consoles and set-top boxes, plus embedded flash for mobile, automotive and IoT devices. The largest end market in fiscal 2026. | $12.16B | 60.1% | |
| Datacenter High-performance enterprise SSDs for servers, cloud and AI-related workloads. The fastest-growing end market in fiscal 2026. | $5.15B | 25.4% | |
| Consumer Portable SSDs, removable memory cards and USB flash drives sold through retail and online channels. | $2.94B | 14.5% |
Fiscal FY2026 · from the annual report
Valuation & fundamentals
TTM through 2026-07-03 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price.
Financial statements
| Metric | TTM | Q4 FY2026 2026-07-03 | Q3 FY2026 2026-04-03 | Q2 FY2026 2026-01-02 | Q1 FY2026 2025-10-03 | Q4 FY2025 2025-06-27 | Q3 FY2025 2025-03-28 | Q2 FY2025 2024-12-27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $20.25B | $8.96Bd +372% | $5.95B +251% | $3.02B +61% | $2.31B | $1.90Bd | $1.70B | $1.88B |
| Gross profit | $14.47B | $7.58Bd +1422% | $4.66B +1120% | $1.54B +154% | $687.0M | $498.0Md | $382.0M | $606.0M |
| Operating income | $12.39B | $7.04Bd +38994% | $4.11B | $1.06B +446% | $176.0M | $18.0Md | −$1.88B | $195.0M |
| Net income | $11.43B | $6.90Bd | $3.62B | $803.0M +672% | $112.0M | −$23.0Md | −$1.93B | $104.0M |
| EPS (diluted) | $73.27 | $44.34d | $23.03 | $5.15 +615% | $0.75 | $-0.16d | $-13.33 | $0.72 |
| Operating cash flow | $11.67B | $7.13Bd +7481% | $3.04Bd +11585% | $1.02Bd | $488.0M | $94.0Md | $26.0Md | — |
| Capital expenditure | $177.0M | $43.0Md -4% | $45.0Md +2% | $39.0Md | $50.0M | $45.0Md | $44.0Md | — |
| Share buybacks | — | — | — | — | — | — | — | — |
| Cash & equivalents | $4.76B | $4.76B | $3.73B | $1.54B | $1.44B | $1.48B | $1.51B | $804.0M |
| Total debt | $0 | $0 | $0 | $603.0M | $1.35B | $1.85B | $1.95B | — |
| Shares outstanding | 146.0M | 146.0M | 148.0M | 148.0M | 147.0M | 146.0M | 145.0M | 144.9M |
| Metric | FY2026 2026-07-03 | FY2025 2025-06-27 |
|---|---|---|
| Revenue | $20.25B +175% | $7.36B |
| Cost of revenue | $5.78B +12% | $5.14B |
| Gross profit | $14.47B +554% | $2.21B |
| Research & development | $1.33B +17% | $1.13B |
| Operating income | $12.39B | −$1.38B |
| EBIT | $12.39B | −$1.38B |
| Depreciation & amortization | $149.0M -9% | $163.0M |
| Interest expense | $73.0M +16% | $63.0M |
| Income tax | $1.58B +878% | $162.0M |
| Net income | $11.43B | −$1.64B |
| EPS (diluted) | $73.76 | $-11.32 |
| Diluted shares (weighted) | 155.0M | 145.0M |
| Operating cash flow | $11.67B +13794% | $84.0M |
| Capital expenditure | $177.0M -13% | $204.0M |
| Share buybacks | $4.52B | $0 |
| Cash & equivalents | $4.76B | $1.48B |
| Long-term debt (incl. current portion) | $0 | $1.85B |
| Total debt | $0 | $1.85B |
| Total assets | $22.51B | $12.98B |
| Total liabilities | $6.77B | $3.77B |
| Shareholders' equity | $15.74B | $9.22B |
| Shares outstanding | 146.0M | 146.0M |
From XBRL data in SEC filings. Small figures under each value: change vs the same period a year earlier. d = derived (e.g. Q4 = full year − first nine months).
NewsFull archive →
Sandisk sets fiscal Q1 2027 results and call for October 29, 2026
Sandisk announced on September 29, 2026 that it will report fiscal first-quarter 2027 results on October 29, with a conference call at 1:30 p.m.
Rosenblatt starts Sandisk at Buy with $2,400 target; shares rise about 6%
Rosenblatt Securities initiated coverage of Sandisk at Buy with a $2,400 price target on September 22, 2026.
Sandisk jumps as much as 7.8% ahead of S&P 100 inclusion
Sandisk shares rose as much as 7.8% intraday on September 18, 2026, and were still up about 7.5% around midday.
CEO David Goeckeler sells 33,841 Sandisk shares under a 10b5-1 plan
Sandisk CEO and Chair David Goeckeler sold 33,841 shares on September 17, 2026, at weighted average prices of about $1,567 to $1,587.
S&P Dow Jones Indices adds Sandisk to the S&P 100, effective September 21
S&P Dow Jones Indices announced on September 4, 2026 that Sandisk will join the S&P 100, replacing Colgate-Palmolive before the open on September 21.
TrendForce sees top-five enterprise SSD brands' revenue doubling to $37.59 billion in Q2 2026
TrendForce projected that the combined revenue of the top five enterprise SSD brands would rise 103.6% quarter over quarter to $37.59 billion in the second quarter of 2026.
Kioxia and Sandisk plan more than $31 billion of investment in Japan through 2032
On August 27, 2026 Kioxia and Sandisk announced plans to invest more than $31 billion (about 5 trillion yen) in Japan through 2032, with the spending contingent on support from the Japanese government.
Sandisk launches NAS 600 SATA and NAS 800 NVMe SSDs for prosumers and small businesses
On August 20, 2026 Sandisk introduced the NAS 600 SATA and NAS 800 NVMe SSDs for network-attached storage used by prosumers and small businesses.
Sandisk Investor Day sets FY2028–FY2030 targets: mid-to-high-teens growth, about 80% gross margin
At its August 13 Investor Day, Sandisk laid out a long-term financial model for fiscal 2028 through 2030 with mid-to-high-teens percentage revenue growth.
Sandisk shares drop more than 11% premarket on softer fiscal Q1 2027 guidance
Sandisk shares fell more than 11% in premarket trading on August 6, 2026, to about $1,194 from a prior close of $1,350.50, despite a quarterly beat.
Sandisk fiscal Q4 2026 revenue $8.97 billion; FY2026 revenue up 175% to $20.25 billion
Sandisk reported fiscal fourth-quarter revenue of $8.97 billion, up 51% from the prior quarter, with non-GAAP diluted EPS of $39.25.
Sandisk discloses 10 supply agreements with eight customers worth at least $93.9 billion at floor pricing
With its fiscal fourth-quarter results on August 5, 2026, Sandisk said it had signed 10 New Business Model agreements with eight Datacenter and Edge customers.
Kioxia and Sandisk unveil 10th-generation QLC flash with up to 60% higher bit density
On August 4, 2026, at the Future of Memory and Storage show, Kioxia and Sandisk unveiled a 10th-generation QLC 3D flash technology.
Sandisk and SK hynix publish first High Bandwidth Flash specification through OCP
Sandisk and SK hynix released the first open specification for High Bandwidth Flash (HBF), a stacked NAND memory product aimed at AI inference.
Sandisk stock falls 47% in July, its worst month since the 2025 listing
Sandisk shares dropped 47% in July 2026, erasing more than $150 billion of market value.
Sandisk schedules fiscal Q4 results for August 5 and sets Investor Day for August 13
Sandisk said it would report fiscal fourth-quarter and full-year 2026 results on August 5, 2026, with the call at 1:30 p.m.
Kioxia and Sandisk start production of 10th-generation 3D flash at Kitakami Fab2
Kioxia and Sandisk said on July 2, 2026 that production of their 10th-generation 3D flash had started at Fab2 at the Kitakami plant in Japan, with the start date given as July 3.
Sandisk starts sampling BiCS10 1Tb TLC 3D NAND with 59% higher bit density than BiCS8
On July 2, 2026 Sandisk said it had begun sampling BiCS10, its 10th-generation 3D NAND, in a 1-terabit triple-level-cell die.
Sandisk lists management appearances at J.P. Morgan, Bernstein and Mizuho conferences
On June 2, 2026 Sandisk said management would present at three investor conferences: J.P.
Sandisk urges shareholders to reject Tutanota's below-market $1,150 mini-tender offer
On May 14, 2026 Sandisk publicly recommended that stockholders reject an unsolicited mini-tender offer from Tutanota LLC for up to 100,000 shares at $1,150 each.
Sandisk fiscal Q3 2026 revenue $5.95 billion; guides Q4 to $7.75-8.25 billion
Sandisk reported fiscal third-quarter revenue of $5.95 billion, above the top of its prior $4.8 billion outlook, with Datacenter revenue of $1.47 billion and Edge revenue of $3.66 billion.
Sandisk signs five multiyear 'New Business Model' supply deals covering over a third of fiscal 2027 bits
Sandisk said with its fiscal third-quarter results that it had signed three multiyear New Business Model (NBM) agreements by the end of the quarter and two more in its fiscal fourth quarter.
Sandisk announces $6 billion share repurchase program with Q3 results
Alongside its fiscal third-quarter results, Sandisk announced a $6 billion share repurchase program, excluding fees and commissions.
Sandisk joins Nasdaq-100, replacing Atlassian; shares rise about 11%
Nasdaq announced that Sandisk would replace Atlassian in the Nasdaq-100 Index, effective before the open on April 20, 2026.
Bernstein raises Sandisk price target to $1,250 from $1,000
Bernstein analyst Mark Newman raised his Sandisk price target to $1,250 from $1,000 on April 9, 2026, the highest target among the analysts Bloomberg polled at the time.
Sandisk to buy about $1 billion of Nanya Technology shares and secure DRAM supply
Sandisk disclosed on March 25, 2026 that a subsidiary agreed to buy about 139 million Nanya Technology shares for roughly $1.0 billion, a stake of about 3.9% on a fully diluted basis.
Sandisk and SK hynix start global standardization of High Bandwidth Flash
On February 25, 2026 Sandisk and SK hynix announced a joint standardization workstream for High Bandwidth Flash (HBF), a stacked NAND product aimed at AI inference.
Sandisk introduces next-generation portable SSD portfolio
On February 24, 2026 Sandisk introduced a refreshed portable SSD lineup aimed at faster, more demanding workflows and AI-generated content.
Western Digital sells about 5.8 million Sandisk shares in $3.2 billion offering
Western Digital, Sandisk's former parent, priced a secondary offering of about 5.8 million Sandisk shares it still held, worth about $3.17 billion.
Sandisk fiscal Q2 2026 revenue $3.03 billion; guides Q3 to $4.4-4.8 billion
Sandisk reported fiscal second-quarter revenue of $3.03 billion, above the top of its own guidance, with Datacenter revenue of $440 million and Edge revenue of $1.68 billion.
SEC filings
| Oct 6, 26 | ARS | ARS: Annual report to shareholders | sec.gov ↗ |
| Oct 6, 26 | DEFA14A | DEFA14A: Additional proxy materials | sec.gov ↗ |
| Oct 6, 26 | DEF 14A | DEF 14A: Definitive proxy statement | sec.gov ↗ |
| Oct 2, 26 | 4 | Form 4: Shek Bernard (Chief Legal Officer and Secty) — open-market sale 600 sh | sec.gov ↗ |
| Sep 21, 26 | 4 | Form 4: Pokorny Michael (VP, Chief Accounting Officer) — award 458 sh | sec.gov ↗ |
| Sep 21, 26 | 4 | Form 4: Visoso Luis Felipe (EVP & CFO) — award 1,635 sh | sec.gov ↗ |
| Sep 21, 26 | 4 | Form 4: Goeckeler David (Chairman & CEO, Director) — award 3,296 sh, open-market sale 33,841 sh | sec.gov ↗ |
| Sep 21, 26 | 4 | Form 4: Shek Bernard (Chief Legal Officer and Secty) — award 1,001 sh, tax withholding 118 sh | sec.gov ↗ |
| Sep 21, 26 | 4 | Form 4: Ilkbahar Alper (EVP & Chief Technology Officer) — award 1,619 sh | sec.gov ↗ |
| Sep 17, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 16, 26 | 4 | Form 4: Visoso Luis Felipe (EVP & CFO) — open-market sale 1,000 sh | sec.gov ↗ |
| Sep 16, 26 | 4 | Form 4: Goeckeler David (Chairman & CEO, Director) — open-market sale 33,838 sh | sec.gov ↗ |
| Sep 16, 26 | 8-K | 8-K: Director/Officer Change (Item 5.02) | sec.gov ↗ |
| Sep 15, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 14, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 11, 26 | 8-K | 8-K: Material Agreement (Item 1.01) | sec.gov ↗ |
| Sep 8, 26 | 4 | Form 4: Ilkbahar Alper (EVP & Chief Technology Officer) — open-market sale 400 sh, tax withholding 3,244 sh | sec.gov ↗ |
| Sep 8, 26 | 4 | Form 4: Ilkbahar Alper (EVP & Chief Technology Officer) — open-market sale 4,712 sh | sec.gov ↗ |
| Sep 8, 26 | 4 | Form 4: Shek Bernard (Chief Legal Officer & Secty) — tax withholding 2,271 sh, open-market sale 2,308 sh | sec.gov ↗ |
| Sep 8, 26 | 4 | Form 4: Goeckeler David (Chairman & CEO, Director) — tax withholding 10,540 sh | sec.gov ↗ |
| Sep 8, 26 | 4 | Form 4: Visoso Luis Felipe (EVP & CFO) — tax withholding 5,838 sh | sec.gov ↗ |
| Sep 8, 26 | 4 | Form 4: Pokorny Michael (VP, Chief Accounting Officer) — tax withholding 1,283 sh | sec.gov ↗ |
| Sep 8, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 3, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 2, 26 | 4 | Form 4: Shek Bernard (Chief Legal Officer & Secty) — open-market sale 600 sh | sec.gov ↗ |
Insider trades, 12 months
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-10-01 | Shek Bernard Chief Legal Officer and Secty | Sale 10b5-1 plan | 600 | $1734.94 | $1.0M |
| 2026-09-17 | Goeckeler David Chairman & CEO, Director | Sale 10b5-1 plan | 33.8K | $1574.21 | $53.3M |
| 2026-09-15 | Visoso Luis Felipe EVP & CFO | Sale 10b5-1 plan | 1.0K | $1568.83 | $1.6M |
| 2026-09-14 | Goeckeler David Chairman & CEO, Director | Sale 10b5-1 plan | 33.8K | $1527.87 | $51.7M |
| 2026-09-08 | Shek Bernard Chief Legal Officer & Secty | Sale 10b5-1 plan | 2.3K | $1767.33 | $4.1M |
| 2026-09-03 | Ilkbahar Alper EVP & Chief Technology Officer | Sale 10b5-1 plan | 4.7K | $1540.58 | $7.3M |
| 2026-09-03 | Ilkbahar Alper EVP & Chief Technology Officer | Sale 10b5-1 plan | 400 | $1563.89 | $625.6K |
| 2026-09-01 | Shek Bernard Chief Legal Officer & Secty | Sale 10b5-1 plan | 600 | $1525.60 | $915.4K |
| 2026-08-03 | Shek Bernard Chief Legal Officer & Secty | Sale 10b5-1 plan | 600 | $1162.16 | $697.3K |
| 2026-07-01 | Shek Bernard Chief Legal Officer & Secty | Sale 10b5-1 plan | 600 | $2088.00 | $1.3M |
| 2026-06-03 | Shek Bernard Chief Legal Officer & Secty | Sale 10b5-1 plan | 600 | $1736.00 | $1.0M |
| 2026-06-01 | Ilkbahar Alper EVP, Chief Technology Officer | Sale | 2.0K | $1756.58 | $3.5M |
| 2026-05-12 | Pokorny Michael VP, Chief Accounting Officer | Sale | 2.4K | $1426.18 | $3.5M |
| 2026-05-08 | Sayiner Necip Director | Sale | 579 | $1503.11 | $870.3K |
| 2026-02-25 | Suzuki Miyuki Director | Sale | 3.5K | $627.53 | $2.2M |