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Screener / SEC EDGAR /CIK 0002023554 /10-K filed Aug 17, 2026, compared with Aug 21, 2025 /Numbers from the XBRL of the 10-Ks
Technology peers:
FLEXSNDKLRCXAMATADBEAPH
Nasdaq Technology · Computer Storage

Sandisk SNDK

SNDK quote by TradingView

Prior to February 21, 2025, we were wholly owned by Western Digital Corporation (“WDC”). 10-K, Item 1

Headquarters
Milpitas, CA
CEO
David Goeckeler
Next results
around Jan 28, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2026

Revenue of $20.2B through the costs to a net profit of $11.4B · income statement of the 10-K

61% operating margin
Revenue to Gross profit: $14.5BRevenue to Cost of revenue: $5.8BGross profit to Operating profit: $12.4BGross profit to Operating expenses: $2.1BOperating profit to Net profit: $10.8BOperating profit to Tax: $1.6BOther income to Net profit: $628.0MOperating expenses to R&D: $1.3BOperating expenses to Sales, admin & other: $755.0M Revenue: $20.2B REVENUE $20.2B +175% Y/Y Gross profit: $14.5B · 71% margin GROSS PROFIT $14.5B 71% margin · +554% Y/Y Cost of revenue: $5.8B · 29% of revenue COST OF REVENUE $5.8B 29% of revenue Operating profit: $12.4B · 61% margin OPERATING PROFIT $12.4B 61% margin Other income: $628.0M · 3% of revenue OTHER INCOME $628.0M 3% of revenue Operating expenses: $2.1B · 10% of revenue OPERATING EXPENSES $2.1B 10% of revenue Net profit: $11.4B · 56% margin NET PROFIT $11.4B 56% margin Tax: $1.6B · 8% of revenue TAX $1.6B 8% of revenue R&D: $1.3B · 7% of revenue R&D $1.3B 7% of revenue Sales, admin & other: $755.0M · 4% of revenue SALES, ADMIN & OTHER $755.0M 4% of revenue
Gross profit $14.5B 71% margin · +554% Y/Y
Operating profit $12.4B 61% margin
Net profit $11.4B 56% margin
The full income statement, year by year

SNDK among Technology peers

Six ratios from the latest 10-K. Each corner is the share of 74 peers the company is above, not a score.

Compare
Revenue growth: 175.3%, above 99% of 74 peers (their median 14.0%) REVENUE GROWTH 175.3% · above 99% Gross margin: 80.0%, above 88% of 67 peers (their median 56.4%) GROSS MARGIN 80.0% · above 88% Operating margin: 72.5%, above 99% of 70 peers (their median 22.2%) OPERATING MARGIN 72.5% · above 99% Net margin: 67.0%, above 99% of 74 peers (their median 18.9%) NET MARGIN 67.0% · above 99% FCF margin: 59.9%, above 100% of 70 peers (their median 22.3%) FCF MARGIN 59.9% · above 100% Return on capital: 60.0%, above 95% of 61 peers (their median 12.6%) RETURN ON CAPITAL 60.0% · above 95%
SNDK Peer median Below the median

What changed

28 new risk paragraphs and 2 accounting facts worth reading about. 10-K filed Aug 17, 2026 against Aug 21, 2025.

Risk factors
28 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Receivables growing faster than revenue
Receivables +340.8% vs revenue +175.3% (+165.5 pts)
10-K · XBRL
Critical audit matters changed
New this year: Sufficiency of audit evidence over revenue, net (“As discussed in Note 1 to the consolidated financial statements, substantially all of the Company’s revenue is derived from the sale of tangible products for which the performance obligations are satisfied at a point in time, generally upon delivery in accordance with the shipping terms of the arran”). No longer listed: Assessment of variable consideration for sales to resellers
10-K · XBRL
Accounting checks
9 other checks clear, 2 worth a look
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
2 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

11 checks on the latest 10-K. Checks, not verdicts.

How it works

2facts worth reading about the other 9 checks found nothing to note

  • Receivables growing faster than revenue
    Receivables +340.8% vs revenue +175.3% (+165.5 pts)
  • Critical audit matters changed
    New this year: Sufficiency of audit evidence over revenue, net (“As discussed in Note 1 to the consolidated financial statements, substantially all of the Company’s revenue is derived from the sale of tangible products for which the performance obligations are satisfied at a point in time, generally upon delivery in accordance with the shipping terms of the arran”). No longer listed: Assessment of variable consideration for sales to resellers
  • Cash from operations $11.7B vs net income $11.4B (FY ending Jul 3, 2026)
8 more checks with nothing to note
  • Inventory +29.8% vs revenue +175.3% (-145.5 pts)
  • Same auditor in both 10-Ks: KPMG LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

28 paragraphs in Risk Factors that were not in the 10-K filed Aug 21, 2025. Quoted as filed.

All 28 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Aug 21, 2025 10-K, ITEM 1A
    Constraints on global talent mobility and hiring, including changes in immigration laws and policies, travel restrictions, work permits regulation and administration, government restrictions to contain the spread of infectious disease, and limitations on the ability of employees to enter, leave, or return to jurisdictions in which we…
  2. Item 1A · new paragraph · not in the 10-K filed Aug 21, 2025 10-K, ITEM 1A
    We may also have difficulty effectively competing with manufacturers benefiting from governmental investments and may be subject to increased complexity and reduced efficiency in our supply chain as a result of governmental efforts to promote domestic semiconductor industries in various jurisdictions.
  3. Item 1A · new paragraph · not in the 10-K filed Aug 21, 2025 10-K, ITEM 1A
    Our operating results may fluctuate due to changes in demand, industry cycles and the timing of customer deployments, including AI-related data center investments, and our ability to accurately forecast demand as a result of these changing market conditions.
  4. Item 1A · new paragraph · not in the 10-K filed Aug 21, 2025 10-K, ITEM 1A
    In March 2026, we made an equity investment in Nanya Technology Corporation (“Nanya”).The value of our investment could be impaired by adverse changes in Nanya’s financial performance, operating results, or market conditions, which could result in losses or impairment charges that adversely affect our results of operations. Similarly,…

New risk paragraphs, against peers

Latest 10-K of each, Technology companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2023FY2024FY2025FY2026
Revenue$6.1B$6.7B$7.4B$20.2B
Net income−$2.1B−$672.0M−$1.6B$11.4B
Operating cash flow−$713.0M−$309.0M$84.0M$11.7B
Free cash flow−$932.0M−$475.0M−$120.0M$11.5B

Revenue, FY2023 to FY2026

Ten fiscal years, each from its own 10-K · XBRL · USD

$20.2B ▲ 175.3% in FY2026

FY2023FY2024FY2025FY2026
Every number, year by year

Recent filings

2 filings in the last 30 days · SEC EDGAR

All filings

About the company

Sandisk, Milpitas, CA · from the 10-K filed Aug 17, 2026

Prior to February 21, 2025, we were wholly owned by Western Digital Corporation (“WDC”). As of February 21, 2025, we separated from WDC (the “separation”) and became a standalone publicly traded company, trading under the stock symbol “SNDK” on the Nasdaq Global Select Market. For more information about the separation, see Part II, Item 7., Management’s Discussion and Analysis of Financial Condition and Results of Operations and Part II, Item 8., Note 1, Organization, Basis of Presentation and Summary of Significant Accounting Policies of the Notes to Consolidated Financial Statements included in this Annual Report on Form 10-K.

Headquarters
Milpitas, CA
Country
United States
Reports in
USD
Listed on
Nasdaq
Fiscal year ends
June 28
Last results
Oct 29, 2026
Incorporated in
DE

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Sources

The 10-K filed Aug 17, 2026 (open at SEC), compared with the 10-K filed Aug 21, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

Work with it: Excel workbook · CSV. Google Sheet that stays up to date: paste =IMPORTDATA("https://tickdelta.com/company/SNDK/export.csv") into a cell.