10-KPeriod: FY2026

Sandisk Corp Annual Report, Year Ended Jul 3, 2026

Filed August 17, 2026For Securities:SNDK

Summary

SanDisk Corporation (SNDK) has reported a significant financial turnaround in the fiscal year ended July 3, 2026, following its separation from Western Digital Corporation (WDC) on February 21, 2025. The company achieved substantial revenue growth of 175% to $20.25 billion, driven by strong performance across its Datacenter, Edge, and Consumer segments. Notably, Datacenter revenue saw a remarkable 437% increase, and Edge revenue grew by 195%, both boosted by higher sales and pricing, particularly fueled by AI infrastructure demand. This growth translated into a net income of $11.43 billion for the fiscal year, a stark contrast to the net loss reported in the previous year. The company has also made progress in managing its financial structure, including early repayment of its Term Loan Facility and executing significant share repurchase programs totaling $20 billion. While the company remains dependent on its joint ventures with Kioxia for flash-based memory wafers, it has extended these agreements through 2034. SanDisk appears well-positioned to capitalize on the increasing demand for data storage driven by AI and other technological advancements.

Financial Highlights

28 data points
Beta

Revenue

$11.28B

61.1% Gross Margin

Net Income

$4.53B

40.1% Net Margin

EPS (Diluted)

$29.42

Free Cash Flow

$4.41B

Financial Statements
Beta
Revenue$11.28B
Cost of Revenue$4.39B
Gross Profit$6.89B
R&D Expenses$980.00M
SG&A Expenses$479.00M
Operating Expenses$1.54B
Operating Income$5.35B
Net Income$4.53B
EPS (Basic)$30.82
EPS (Diluted)$29.42
Shares Outstanding (Basic)147.00M
Shares Outstanding (Diluted)154.00M

Key Highlights

  • 1SanDisk reported a robust revenue increase of 175% to $20.25 billion for the fiscal year ended July 3, 2026, compared to the prior year.
  • 2Datacenter and Edge segments showed exceptional growth, with revenues increasing by 437% and 195% respectively, driven by AI demand and pricing improvements.
  • 3The company achieved a net income of $11.43 billion for the fiscal year, a significant improvement from the net loss in the previous year.
  • 4SanDisk successfully repaid its $2.0 billion Term Loan Facility early in March 2026.
  • 5The company announced and executed substantial share repurchase programs totaling $20 billion ($6 billion in April 2026 and $14 billion in August 2026).
  • 6Joint venture agreements with Kioxia for flash-based memory wafers have been extended through December 31, 2034.
  • 7Strategic equity investment made in Nanya Technology Corporation for $970 million in March 2026.

Frequently Asked Questions

SanDisk experienced a dramatic financial turnaround in the fiscal year ended July 3, 2026. Revenue surged by 175% to $20.25 billion, leading to a net income of $11.43 billion, a significant improvement from the net loss reported in the previous fiscal year. This performance was driven by strong demand across all its end markets, particularly the Datacenter and Edge segments.

SanDisk's product portfolio is strategically aligned with the demands of AI workloads. The company's revenue growth in the Datacenter and Edge segments, which it attributes partly to AI infrastructure demand, indicates a strong ability to capitalize on this trend. The company expects this AI-driven demand to persist and plans to invest accordingly.

SanDisk's flash-based memory wafers are primarily sourced through its joint ventures with Kioxia. These critical agreements have been extended through December 31, 2034. The company also designs controllers in-house and utilizes third-party foundries. Its assembly and testing operations involve a mix of in-house facilities and contract manufacturers, providing flexibility and capacity.

SanDisk has demonstrated a commitment to returning value to shareholders through significant share repurchase programs. The company authorized and repurchased approximately $4.5 billion in common stock during the fiscal year ended July 3, 2026, and subsequently announced an additional $14.0 billion share repurchase program. The company currently does not intend to pay any cash dividends.