Latest update
$1,096
Updated: Jul 28, 2026, 2:01 PM UTC
Browsing public data
SanDisk Corporation develops, manufactures, and sells data storage devices and solutions using NAND flash technology globally. The company reported robust revenue and free cash flow growth in Q1 2026, with revenue up 96.7% QoQ and 251.0% YoY, and free cash flow up 205.4% QoQ. Profitability remains strong with operating margins at 70.0% and profit margins at 34.2%. The balance sheet is healthy with a current ratio of 4.8 and low debt, enabling strong debt service. Despite these strong fundamentals, the stock price has recently experienced significant downside volatility, trading well below its daily and weekly exponential moving averages. The company has an upcoming earnings report in 9 days, which presents near-term event risk.
Revenue
The total dollars the company billed customers. When this number grows quarter after quarter, the business is finding more demand.
Latest
↑$6B
Q1 2026
The most recent reported figure, in the company's own currency and reporting cadence.
QoQ
↑+96.7%
vs Q4 2025
How much this quarter grew compared to last quarter. Useful for spotting acceleration or slowdown in real time.
YoY
↑+251.0%
vs Q1 2025
How much this quarter grew compared to the same quarter one year ago. Strips out seasonality — a slow holiday quarter looks worse QoQ but normal YoY.
CAGR
•—
insufficient history
The smooth yearly growth rate that gets you from the starting value to the current value. A 100% CAGR over 3 years means the business tripled, on average, each year.
Net income
What's left from revenue after paying every cost — employees, materials, taxes, interest. Sometimes called profit or 'the bottom line.'
Latest
↑$3.6B
Q1 2026
The most recent reported figure, in the company's own currency and reporting cadence.
QoQ
↑+350.2%
vs Q4 2025
How much this quarter grew compared to last quarter. Useful for spotting acceleration or slowdown in real time.
YoY
•—
vs Q1 2025
How much this quarter grew compared to the same quarter one year ago. Strips out seasonality — a slow holiday quarter looks worse QoQ but normal YoY.
CAGR
•—
insufficient history
The smooth yearly growth rate that gets you from the starting value to the current value. A 100% CAGR over 3 years means the business tripled, on average, each year.
Free cash flow
The cash actually left in the bank after the company has paid for everything and reinvested in itself. Harder to fake than net income.
Latest
↑$3B
Q1 2026
The most recent reported figure, in the company's own currency and reporting cadence.
QoQ
↑+205.4%
vs Q4 2025
How much this quarter grew compared to last quarter. Useful for spotting acceleration or slowdown in real time.
YoY
•—
vs Q1 2025
How much this quarter grew compared to the same quarter one year ago. Strips out seasonality — a slow holiday quarter looks worse QoQ but normal YoY.
CAGR
•—
insufficient history
The smooth yearly growth rate that gets you from the starting value to the current value. A 100% CAGR over 3 years means the business tripled, on average, each year.
| Metric | 3 yr | 2 yr | 1 yr |
|---|---|---|---|
| Revenue | — | — | +251.3% $1.7B→$6B |
| Net income | — | — | — |
| Free cash flow | — | — | +23925.4% $49M→$3B |
P/E TTM
↑37.4×
Trailing twelve months. Today's price divided by the last year of actual earnings.
P/E NTM
↑5.1×
Next twelve months. Today's price divided by what analysts expect the company to earn over the coming year.
Profitability
↑Strong
Operating margin (and the wider return profile) tells you how efficiently each dollar of sales becomes profit. High and rising = pricing power; low or falling = the business is grinding.
Share count
→Stable
Are the buybacks outrunning the stock-based comp? A shrinking share count means every existing share owns a bigger slice of future earnings.
Debt load
↑Light
Total debt against cash and earnings power (EBITDA). Light debt leaves room to invest and weather downturns; heavy debt shrinks the margin for error.
Debt service
↑Strong
Whether the cash the business generates easily covers its interest and loan payments. Strong here = no forced selling in a bad year.
Cash return at today's price
↓1.4%
Free cash flow divided by market cap — the cash yield you're getting for the price you pay. Above ~6% is rich, below ~3% is thin. P/E shown when the yield is too small to be useful.
Despite very strong underlying fundamentals and an attractive forward valuation, the current price action is highly defensive. The stock is in a clear short-term markdown phase, trading far below its daily and weekly averages, and momentum is negative. The impending earnings report adds significant uncertainty and risk. It's best to wait for either clear signs of stabilization in price action or the outcome of the earnings report before considering an entry. The long-term thesis remains intact, but tactical patience is required.
Short-term thesis
SanDisk Corporation is a compelling investment opportunity in the expanding data storage market. Its leadership in NAND flash technology is validated by exceptional financial results, including massive revenue and free cash flow growth, coupled with superb profitability. The robust balance sheet and attractive forward valuation present a strong long-term case. While the stock experiences short-term price volatility and is in a significant markdown phase, the underlying business quality and secular tailwinds from global data generation are powerful drivers.
Long-term exposure
Own
The business backdrop is strong enough for long-term exposure.
Entry window
Wait
SanDisk is currently in a strong short-term downtrend, trading significantly below both its daily and weekly moving averages. The recent price action suggests strong selling pressure, and volume has contracted. Given the sharp decline and the upcoming earnings report, it is prudent to remain on the sidelines this week. A clearer entry point is needed, ideally after some stabilization or a positive earnings reaction.
Risk check
Fragile
The downside can widen quickly if this setup goes wrong.
Alignment
Aligned
The weekly setup and the long-term case are pulling together.
What supports it
What limits it
Long-term thesis
The pervasive and escalating demand for high-performance and dense data storage, driven by the proliferation of AI, IoT, cloud computing, and advanced mobile devices.
Bottleneck Role
SanDisk plays a critical role in addressing the bottleneck of efficient data storage. As data volumes grow exponentially, the ability to store, access, and process this information quickly and reliably becomes paramount. SanDisk's advanced NAND flash solutions provide the necessary speed, density, and form factors to overcome traditional storage limitations, making them an enabler for next-generation technologies like AI and advanced cloud computing.
Consensus Blind Spot
The market often underestimates the sustained, non-cyclical demand for specialized NAND flash, especially from disruptive technologies like AI and IoT, by consistently viewing the memory market through a traditional cyclical commodity lens. The current low forward P/E may reflect this underestimation of future earnings growth.
Demand Gap
The demand for high-performance, dense, and reliable flash storage continues to outpace the industry's ability to consistently supply cutting-edge solutions without pricing power for advanced segments. This gap is exacerbated by the rapid adoption of AI and other data-intensive applications.
Demand to Equity Scenarios
Global economic slowdown leading to reduced consumer electronics and enterprise IT spending, coupled with oversupply in the broader memory market.
Demand
-15%
Earnings
-30%
Equity implication
-40%
Decreased demand for storage solutions and pricing pressure.
Continued strong growth in cloud infrastructure, mobile devices, and steady adoption of AI/IoT, slightly offset by supply ramping up.
Demand
+10%
Earnings
+15%
Equity implication
+25%
Stable demand for SanDisk's products, maintaining strong revenue and profitability.
Massive acceleration in AI and IoT adoption, significantly outstripping industry capacity expansion, leading to sustained high pricing power and rapid market share gains for SanDisk.
Demand
+25%
Earnings
+50%
Equity implication
+75%
Explosive revenue growth and margin expansion due to strong pricing and volume leverage.
Dependency Chain
Repricing Triggers
Must be true
Thesis broken if
What changed
Signal
Conviction
Long term
Stock
Added since last run
8No longer flagged
0Nothing dropped this run
The prior call to WAIT proved prescient, as the stock experienced a material decline following the recommendation. The reasoning that it was prudent to wait for stabilization or a clear rebound was accurate.
Jul 28, 2026
LatestUpdated Jul 28, 2026, 2:01 PM UTC
Price at review
$1,096
SanDisk is currently in a strong short-term downtrend, trading significantly below both its daily and weekly moving averages. The recent price action suggests strong selling pressure, and volume has contracted. Given the sharp decline and the upcoming earnings report, it is prudent to remain on the sidelines this week. A clearer entry point is needed, ideally after some stabilization or a positive earnings reaction.
Jul 16, 2026
Updated Jul 16, 2026, 8:46 PM UTC
Price at review
$1,411
SanDisk has experienced a significant price drop recently, falling over 21% below its daily average, showing weakness in the very short term. However, it remains above its longer-term weekly average, suggesting that the broader uptrend is still intact. Volume has expanded during this recent decline, which often indicates strong selling pressure. Given the setup, it's prudent to wait for signs of stabilization or a clear rebound from the current shorter-term weakness before considering a move.