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Sandisk Corporation develops, manufactures, and sells data storage devices and solutions using NAND flash technology in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company offers solid state drives for desktop and notebook PCs, gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs and other portable and wearable devices, automotive applications, Internet of Things, industrial, and connected home applications, as well as removable cards, universal serial bus drives, and wafers and components. It sells its products to computer manufacturers and original equipment manufacturers, datacenters, private cloud customers, cloud service providers, resellers, distributors, and retailers through its sales personnel, dealers, distributors, retailers, and subsidiaries. Sandisk Corporation was incorporated in 2024 and is based in Milpitas, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $7.4B | $-1.3B | $-1.6B | $-120M | -17.8% | 10.4% | 144.2% |
| 2024 | $6.7B | $-239M | $-672M | $-475M | -6.1% | 9.5% | -68.6% |
| 2023 | $6.1B | $-1.5B | $-2.1B | $-932M | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Revenue | 6,086 | 6,663 | 7,355 |
| Cost Of Revenue | 5,656 | 5,591 | 5,143 |
| Gross Profit | 430 | 1,072 | 2,212 |
| Operating Expense | 1,725 | 1,516 | 1,705 |
| Operating Income | -1,295 | -444 | 507 |
| EBITDA | -1,523 | -239 | -1,253 |
| EBIT | -1,971 | -463 | -1,416 |
| Pretax Income | -2,002 | -503 | -1,479 |
| Tax Provision | 141 | 169 | 162 |
| Net Income | -2,143 | -672 | -1,641 |
| Net Income Common Stockholders | -2,143 | -672 | -1,641 |
| Total Expenses | 7,381 | 7,107 | 6,848 |
| Interest Expense | 31 | 40 | 63 |
| Interest Income | 21 | 12 | 22 |
| Research And Development | 1,167 | 1,061 | 1,132 |
| Selling General And Administration | 558 | 455 | 573 |
| Normalized EBITDA | -783 | -215 | 631 |
| Normalized Income | -1,558.40 | -653.04 | -152.64 |
| Market Cap | 146,110 | 146,110 | 146,110 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Sandisk Corporationthis co. | SNDK | - | -89.04 | 15.85 | -17.8% | -117.06 |
| Akamai Technologies, Inc. | AKAM | $13.8B | 31.02 | 2.82 | 9.1% | 13.99 |
| FormFactor, Inc. | FORM | $12.0B | 222.39 | 11.68 | 5.3% | 111.80 |
| GoDaddy Inc. | GDDY | $11.9B | 13.11 | 53.34 | 406.8% | 11.07 |
| Gen Digital Inc. | GEN | $11.8B | 17.93 |
| 5.08 |
| 28.3% |
| 9.30 |
| Zebra Technologies Corporation | ZBRA | $11.6B | 26.73 | 3.12 | 11.7% | 16.15 |
| Gartner, Inc. | IT | $11.3B | 13.94 | 31.77 | 228.0% | 9.11 |
| Jack Henry & Associates, Inc. | JKHY | $11.0B | 24.00 | 5.13 | 21.4% | - |
| Sanmina Corporation | SANM | $10.4B | 42.67 | 4.46 | 10.4% | 20.60 |
| Peer Median | - | 25.37 | 5.11 | 16.5% | 13.99 | |