Is the business good?
How good a business is SNDK?
Sandisk earns 89% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
89%
Return on invested capital · cost of capital 9.0% · 80 points above what the capital costs: growth creates value
- Operating margin
- 61%
Operating margin · Technology median 8.0% · 12 months to Q4 2026
- Cash conversion
- 1.00×
Cash conversion · every dollar of reported profit arrived as cash, and more
- R&D as % of revenue
- 6.6%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2023 | −33% |
| FY2024 | −7.0% |
| FY2025 | −19% |
| FY2026 | 61% |
Details›
- Gross margin12 months to Q4 2026
- 71%
- Operating margin12 months to Q4 2026
- 61%
- Net margin12 months to Q4 2026
- 56%
- Free cash flow margin
- 57%
- R&D as % of revenue
- 6.6%
- Revenue, trailing twelve months
- $20.2B
- Free cash flow, trailing twelve months
- $11.5B
- Net income, trailing twelve months
- $11.4B
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 89%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Technology
Ranks #91 of 364 by Smart Score