Value Investor
Start free

Sandisk

SNDK on Nasdaq. Sandisk sells flash memory chips and drives to datacenters, device makers, and consumers. Market value $249.5bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to June 2026.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Technology stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
4.6%fair

For every $100 of what the whole company costs, it produced $4.61 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
19.8×full

You pay 19.8 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to June 2026
n/a

The filings do not give us enough to work this out.

Quality score: not known. Price score: 70 of 100. Our list needs 70 on quality and 60 on price.

$1,704.16 a share, 1373% above its 1-year low

Over the past year the price has ranged from $115.68 to $2,354.39.

Pays no dividend

Prices from Monday’s close (5 October).

Five years of cash, in billions

-0.1
11.5
20252026
Revenue
$7.4bn$20.2bn
Operating margin
-18.7%61.2%
Debt to equity
0.200.00
Shares outstanding
0.15bn0.15bn

Health checks

  • Free cash flow positive1 of 2 years
  • Accounting looks honest (Beneish)Warning signs
  • Financial strength (Piotroski)8 of 9
  • Profit backed by cash (accruals)Yes
  • Debt0.00× equity
  • Revenue growth, five yearsUnknown
  • Buying back its own sharesRoughly flat

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $9 billion last quarter, up 372% on a year ago.
  • Profit: $6.9 billion, after a loss of $23 million a year ago.
  • It keeps 61 cents of each $1 of sales as operating profit, after losing 19 cents a year earlier.
  • Spare cash over the past 12 months: $11.5 billion. A year earlier it spent $120 million more than it brought in.
  • It has $4.8 billion more cash than debt. A year ago debt was $368 million more than cash.
Sales by quarter
Sales by quarter
Quarter toAmount
December 2024$1.9bn
March 2025$1.7bn
June 2025$1.9bn
September 2025$2.3bn
December 2025$3.0bn
March 2026$6.0bn
June 2026$9.0bn
Profit by quarter
Profit by quarter
Quarter toAmount
December 2024$104m
March 2025-$1.9bn
June 2025-$23m
September 2025$112m
December 2025$803m
March 2026$3.6bn
June 2026$6.9bn

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
29 October 2026
Last annual report (10-K)
17 August 2026
Next quarterly (estimated, 10-Q)
31 July 2026

Who owns it

5 long-term investors we follow own it, unchanged from 5 last quarter. 1,820 funds in all.

Jun '25
Dec '25
Jun '26

Sold out this quarter

Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

4 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 7 sold $134m, $123m of it under preset trading plans.

  • Shek Bernard
    Chief Legal Officer and Secty
    Sold
    under a preset trading plan
    Date
    1 October 2026
    Shares
    600
    Price
    $1734.94
    Value
    $1m
  • Goeckeler David
    Chairman & CEO, Director
    Sold
    under a preset trading plan
    Date
    17 September 2026
    Shares
    33,841
    Price
    $1574.21
    Value
    $53m
  • Visoso Luis Felipe
    EVP & CFO
    Sold
    under a preset trading plan
    Date
    15 September 2026
    Shares
    1,000
    Price
    $1568.83
    Value
    $2m
  • Goeckeler David
    Chairman & CEO, Director
    Sold
    under a preset trading plan
    Date
    14 September 2026
    Shares
    33,838
    Price
    $1527.87
    Value
    $52m
  • Shek Bernard
    Chief Legal Officer & Secty
    Sold
    under a preset trading plan
    Date
    8 September 2026
    Shares
    2,308
    Price
    $1767.33
    Value
    $4m
  • Ilkbahar Alper
    EVP & Chief Technology Officer
    Sold
    under a preset trading plan
    Date
    3 September 2026
    Shares
    400
    Price
    $1563.89
    Value
    $625,557
  • Ilkbahar Alper
    EVP & Chief Technology Officer
    Sold
    under a preset trading plan
    Date
    3 September 2026
    Shares
    4,712
    Price
    $1540.58
    Value
    $7m
  • Shek Bernard
    Chief Legal Officer & Secty
    Sold
    under a preset trading plan
    Date
    1 September 2026
    Shares
    600
    Price
    $1525.60
    Value
    $915,360
  • Shek Bernard
    Chief Legal Officer & Secty
    Sold
    under a preset trading plan
    Date
    3 August 2026
    Shares
    600
    Price
    $1162.16
    Value
    $697,296
  • Shek Bernard
    Chief Legal Officer & Secty
    Sold
    under a preset trading plan
    Date
    1 July 2026
    Shares
    600
    Price
    $2088.00
    Value
    $1m

From Form 4 filings: insiders must report trades in their own company's shares within two days.

What could go wrong

  • Its accounts show patterns that sometimes come before companies have to correct past results (Beneish score).

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
Create a free account to run it

Your first deep dive is free.

What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.