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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 |
| Operating 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 |
| Research And Development | 1,167 | 1,061 | 1,132 |
| Selling General And Administration | 558 | 455 | 573 |
| Total Expenses | 7,381 | 7,107 | 6,848 |
| Operating Income | -1,295 | -444 | 507 |
| Total Operating Income As Reported | -2,035 | -468 | -1,377 |
| EBITDA | -1,523 | -239 | -1,253 |
| Normalized EBITDA | -783 | -215 | 631 |
| EBIT | -1,971 | -463 | -1,416 |
| Interest Income | 21 | 12 | 22 |
| Interest Expense | 31 | 40 | 63 |
| Net Interest Income | -10 | -28 | -41 |
| Other Non Operating Income Expenses | 43 | -7 | -61 |
| Other Income Expense | -697 | -31 | -1,945 |
| Interest Income Non Operating | 21 | 12 | 22 |
| Interest Expense Non Operating | 31 | 40 | 63 |
| Net Non Operating Interest Income Expense | -10 | -28 | -41 |
| Pretax Income | -2,002 | -503 | -1,479 |
| Tax Provision | 141 | 169 | 162 |
| Tax Rate For Calcs | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | -155.40 | -5.04 | -395.64 |
| Net Income Continuous Operations | -2,143 | -672 | -1,641 |
| Net Income From Continuing And Discontinued Operation | -2,143 | -672 | -1,641 |
| Net Income From Continuing Operation Net Minority Interest | -2,143 | -672 | -1,641 |
| Net Income | -2,143 | -672 | -1,641 |
| Net Income Common Stockholders | -2,143 | -672 | -1,641 |
| Net Income Including Noncontrolling Interests | -2,143 | -672 | -1,641 |
| Normalized Income | -1,558.40 | -653.04 | -152.64 |
| Diluted NI Availto Com Stockholders | -2,143 | -672 | -1,641 |
| Basic Average Shares | 145 | 145 | 145 |
| Diluted Average Shares | 145 | 145 | 145 |
| Reconciled Depreciation | 448 | 224 | 163 |
| Reconciled Cost Of Revenue | 5,656 | 5,591 | 5,143 |
| Total Unusual Items | -740 | -24 | -1,884 |
| Total Unusual Items Excluding Goodwill | -740 | -24 | -1,884 |
| Special Income Charges | -740 | -24 | -1,884 |
| Gain On Sale Of Business | 0 | -64 | -33 |
| Impairment Of Capital Assets | 671 | 0 | 1,830 |
| Restructuring And Mergern Acquisition | 69 | -40 | 21 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Sandisk Corporationthis co. | SNDK | $260.6B | -158.80 | 28.28 | -17.8% | -208.42 |
| International Business Machines Corporation | IBM | $283.6B | 26.78 | 8.69 | 32.4% | 19.36 |
| KLA Corporation | KLAC | $278.4B | 68.54 | 59.33 | 86.6% | 52.88 |
| Texas Instruments Incorporated | TXN | $277.9B | 55.57 | 17.08 | 30.7% | 34.99 |
| Marvell Technology, Inc. | MRVL | $276.8B |
| 103.67 |
| 19.35 |
| 18.7% |
| 61.45 |
| Dell Technologies Inc. | DELL | $274.2B | 46.18 | -110.99 | -240.3% | 24.82 |
| QUALCOMM Incorporated | QCOM | $255.7B | 46.14 | 12.06 | 26.1% | 17.75 |
| Palo Alto Networks, Inc. | PANW | $227.6B | 200.71 | 29.09 | 14.5% | 116.26 |
| Seagate Technology Holdings plc | STX | $209.5B | 142.62 | -462.49 | -324.3% | 102.45 |
| Peer Median | - | 62.06 | 14.57 | 22.4% | 43.93 | |