Sandisk Corp (SNDK) stock — is it a good business?

Sandisk Corp (SNDK) stock — is it a good business? — InspectStocks

Just reported

Q1 FY2027 results

From Sandisk's results release of October 29, 2026; its quarterly report has since been filed.

Revenue
Actual
$11.03B
+378% y/y
+23% q/q
Guided
$10.55B
midpoint
Above guide+4.6%
EPS, GAAP
Actual
$52.60
+19% q/q
Guided
—
No guide given
Operating income, GAAP
Actual
$8.78B
+25% q/q
Guided
—
No guide given

Company outlook

Q2 FY2027

Revenue$12.2B – $12.6B+310% y/y First given
EPS$55.00 – $57.00First given

Set against the company's own guidance and the same quarter a year earlier, not analysts' estimates, which we do not hold. Adjusted figures are the company's own non-GAAP measures, as stated in the release.

The full earnings report →

How it makes money

Edge products, including storage for computers, phones, gaming, cars, and industrial devices60%
Datacenter products, including enterprise solid-state drives25%
Consumer products, including portable drives, memory cards, and USB drives15%

Shares of revenue are estimates for FY2026 ended 2026-07-03, not figures from a filing.

Competes with

KYOCYKioxia Corporation
MUMicron Technology, Inc.
A
Size
$880.4B
Margin
63.8%
SSNLFSamsung Electronics Co., Ltd.
HXSCLSK hynix Inc.
Yangtze Memory Technologies Co., Ltd.

What it sells6

Enterprise solid-state drives
Flash-storage drives used in servers and data centers for business applications, data analysis, and online services.
Computer and gaming solid-state drives
Drives that store programs and files in desktop and notebook computers, gaming consoles, and set-top boxes.
Embedded flash memory
Flash storage built into phones, tablets, wearable devices, cars, and industrial or connected-home products.

Show 3 more

Portable solid-state drives
External drives for consumers and other users who need portable storage.
Memory cards and universal serial bus flash drives
Removable storage used in cameras, phones, gaming devices, computers, and other consumer products.
Flash wafers and components
Memory wafers and related components used in Sandisk storage products and supplied through its manufacturing arrangements.

Who buys it4

Data-center and cloud-service operators buy enterprise drives, directly or through supply agreements.
Computer, phone, gaming, automotive, and other device manufacturers buy drives or embedded memory for products they make; these buyers include original equipment manufacturers.
Distributors, resellers, and retailers buy Sandisk-branded drives, memory cards, and USB drives for sale to consumers and businesses.
Enterprise customers buy storage products for private data centers and business systems.

What it stands on, and what could break it

What the business leans on

1Sandisk says all of its flash-memory wafers currently come from Flash Ventures, its manufacturing joint ventures with Kioxia. The companies jointly develop and make memory, and Sandisk's supply depends on those arrangements continuing.
2Some controllers come from third-party suppliers or foundries, and some components have only a limited number of qualified suppliers.
3Sandisk uses outside companies for some assembly and testing, alongside its own facilities.

What could go wrong

1A disruption or disagreement affecting Kioxia or Flash Ventures could interrupt Sandisk's access to flash wafers. The joint-venture arrangements also limit Sandisk's ability to arrange other flash manufacturing while they remain in effect.
2Flash-memory prices and demand can change sharply with industry cycles, customer deployments, and supply levels. Long-term customer agreements bring their own execution and financial obligations, while sales outside those agreements remain exposed to market pricing.
3Sandisk must keep developing and introducing new memory technologies and products as competitors do the same. Delays, unsuccessful technology transitions, or products that fail customer qualification could affect sales.

Full financial statements →

About Sandisk Corp

Sandisk makes NAND (not-AND) flash memory, which stores data without needing power to keep it. It sells solid-state drives (SSDs), embedded memory, memory cards, and universal serial bus (USB) drives, as well as wafers and components. Its customers include data-center operators, device makers, and retailers that sell storage products to consumers.

Head office: Milpitas, California
Founded: 1988
Employees: approximately 11,100 (July 2026, high)
Listed on: Nasdaq Global Select Market
Financial year ends: July 3, 2026 (latest reported fiscal year-end)

Built from Sandisk Corp’s own filings with the U.S. Securities and Exchange Commission (SEC). Figures are as reported, with per-share history restated onto today’s share basis. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.

Just reported

Q1 FY2027 results

From Sandisk's results release of October 29, 2026; its quarterly report has since been filed.

Revenue
Actual
$11.03B
+378% y/y
+23% q/q
Guided
$10.55B
midpoint
Above guide+4.6%
EPS, GAAP
Actual
$52.60
+19% q/q
Guided
—
No guide given
Operating income, GAAP
Actual
$8.78B
+25% q/q
Guided
—
No guide given

Company outlook

Q2 FY2027

Revenue$12.2B – $12.6B+310% y/y First given
EPS$55.00 – $57.00First given

The full earnings report →

Keep exploring

The themes Sandisk is part of, the highest-graded companies in its industry, and the companies in its sector whose grade rose recently.

The theme it is part of

Highest-graded in Semiconductors

Graded A or B and worth $2B or more: A first, then the largest.

All 71 graded companies in its industry

Grade rose recently in Technology

Rose to A or B on a filing in the last 90 days, worth $2B or more: largest first.

All grade rises

How it makes money

Edge products, including storage for computers, phones, gaming, cars, and industrial devices60%
Datacenter products, including enterprise solid-state drives25%
Consumer products, including portable drives, memory cards, and USB drives15%

Shares of revenue are estimates for FY2026 ended 2026-07-03, not figures from a filing.

Competes with

KYOCYKioxia Corporation
MUMicron Technology, Inc.
A
Size
$880.4B
Margin
63.8%
SSNLFSamsung Electronics Co., Ltd.
HXSCLSK hynix Inc.
Yangtze Memory Technologies Co., Ltd.

What it sells6

Enterprise solid-state drives
Flash-storage drives used in servers and data centers for business applications, data analysis, and online services.
Computer and gaming solid-state drives
Drives that store programs and files in desktop and notebook computers, gaming consoles, and set-top boxes.
Embedded flash memory
Flash storage built into phones, tablets, wearable devices, cars, and industrial or connected-home products.

Show 3 more

Portable solid-state drives
External drives for consumers and other users who need portable storage.
Memory cards and universal serial bus flash drives
Removable storage used in cameras, phones, gaming devices, computers, and other consumer products.
Flash wafers and components
Memory wafers and related components used in Sandisk storage products and supplied through its manufacturing arrangements.

Who buys it4

Data-center and cloud-service operators buy enterprise drives, directly or through supply agreements.
Computer, phone, gaming, automotive, and other device manufacturers buy drives or embedded memory for products they make; these buyers include original equipment manufacturers.
Distributors, resellers, and retailers buy Sandisk-branded drives, memory cards, and USB drives for sale to consumers and businesses.
Enterprise customers buy storage products for private data centers and business systems.

What it stands on, and what could break it

What the business leans on

1Sandisk says all of its flash-memory wafers currently come from Flash Ventures, its manufacturing joint ventures with Kioxia. The companies jointly develop and make memory, and Sandisk's supply depends on those arrangements continuing.
2Some controllers come from third-party suppliers or foundries, and some components have only a limited number of qualified suppliers.
3Sandisk uses outside companies for some assembly and testing, alongside its own facilities.

What could go wrong

1A disruption or disagreement affecting Kioxia or Flash Ventures could interrupt Sandisk's access to flash wafers. The joint-venture arrangements also limit Sandisk's ability to arrange other flash manufacturing while they remain in effect.
2Flash-memory prices and demand can change sharply with industry cycles, customer deployments, and supply levels. Long-term customer agreements bring their own execution and financial obligations, while sales outside those agreements remain exposed to market pricing.
3Sandisk must keep developing and introducing new memory technologies and products as competitors do the same. Delays, unsuccessful technology transitions, or products that fail customer qualification could affect sales.

Full financial statements →

About Sandisk Corp

Head office: Milpitas, California
Founded: 1988
Employees: approximately 11,100 (July 2026, high)
Listed on: Nasdaq Global Select Market
Financial year ends: July 3, 2026 (latest reported fiscal year-end)

Q1 FY2027 results

Revenue

EPS, GAAP

Operating income, GAAP

Company outlook

How it makes money

Competes with

What it sells6

Who buys it4

What it stands on, and what could break it

What the business leans on

What could go wrong

About Sandisk Corp

Q1 FY2027 results

Revenue

EPS, GAAP

Operating income, GAAP

Company outlook

Keep exploring

The theme it is part of

Highest-graded in Semiconductors

Grade rose recently in Technology

How it makes money

Competes with

What it sells6

Who buys it4

What it stands on, and what could break it

What the business leans on

What could go wrong

About Sandisk Corp

Keep exploring

The theme it is part of

Highest-graded in Semiconductors

Grade rose recently in Technology

AI servers, memory & storage

Sandisk Corp

Growth & cash — 5 of 5

Business trend

Share price and grade over time

Q1 FY2027 results

Revenue

EPS, GAAP

Operating income, GAAP

Company outlook

How it makes money

Competes with

What it sells6

Who buys it4

What it stands on, and what could break it

What the business leans on

What could go wrong

About Sandisk Corp

Q1 FY2027 results

Revenue

EPS, GAAP

Operating income, GAAP

Company outlook

Keep exploring

The theme it is part of

Highest-graded in Semiconductors

Grade rose recently in Technology

How it makes money

Competes with

What it sells6

Who buys it4

What it stands on, and what could break it

What the business leans on

What could go wrong

About Sandisk Corp

Keep exploring

The theme it is part of

Highest-graded in Semiconductors

Grade rose recently in Technology

AI servers, memory & storage

Sandisk Corp

Past performance

Growth & cash — 5 of 5

Business trend

Share price and grade over time