| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 49 | 21.0x | 17.8x | Around median | |
Growth | 99 | 156.1% | 7.1% | Top tier | |
Quality | 94 | 78.6% | 4.5% | Top tier | |
Safety | 93 | — | 2.6x | Top tier | |
Capital Return | 76 | — | 2.12% | Top tier | |
Momentum | 91 | — | 2.9% | Top tier | |
Sentiment | 62 | 11 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Sandisk Corporation develops and manufactures NAND-based storage solutions and manages the value chain from memory chip design and manufacturing with its joint venture partner to controllers, product assembly, and testing. The company generates revenue across three end markets: data centers; edge computing, which includes smartphones, personal computers, automobiles, and robotics; and consumer products. Its portfolio includes BiCS technologies in both TLC and QLC, enterprise SSDs, the QLC-based Stargate platform, and the development of high-bandwidth flash for artificial intelligence inference applications.
In Q4 fiscal year 2026, Sandisk generated record revenue of $8.965 billion, up 51% sequentially and 372% year over year, exceeding its guidance range of $7.75–8.25 billion. Adjusted gross margin was 84.6%, compared with 78.4% in the previous quarter and 26.4% a year earlier, while adjusted operating margin reached 79.2% and adjusted earnings per share reached $39.25. About one-third of the sequential growth came from higher volumes and two-thirds from higher prices, illustrating the significant impact of NAND pricing strength on results.
Data center revenue reached $2.977 billion in Q4 fiscal year 2026, up 103% sequentially, while edge computing revenue reached $5.432 billion, up 48%, and consumer product revenue declined 32% to $556 million. For fiscal year 2026, revenue increased 175% to $20.248 billion, including $5.153 billion from data centers, $12.160 billion from edge computing, and $2.935 billion from consumer products. In the same quarter, the company generated $7.126 billion in operating cash flow and $5.035 billion in adjusted free cash flow, representing a 56% margin.
The analyst consensus is “Buy,” with an average price target of $2152.81, a high of $3050, and a low of $1200; the average is about 8.6% below the 52-week range peak of $2354.39. No reliable price-to-earnings multiple is available in the data, so the valuation assessment rests on the breadth of the $47.40–2354.39 52-week range and the dispersion of analysts' targets, both of which reflect a significant repricing tied to the NAND and artificial intelligence boom, while cyclical risks and slowing sequential growth remain.
Figures in the text are as of 2026-08-26; the live price is shown at the top of the page.
Revenue increased to $8.965 billion, up 51% sequentially and 372% year over year, exceeding the $8.25 billion upper end of guidance. About one-third of the growth came from higher bit volumes and two-thirds from higher prices. Data center revenue surged 103% sequentially to $2.977 billion, while edge computing revenue rose 48% to $5.432 billion. Adjusted gross margin was 84.6%, and adjusted earnings per share were $39.25.
Sandisk signed agreements with eight customers across data centers and edge computing, with a weighted average term exceeding four years. The agreements have minimum expected revenue of $93.9 billion based on floor prices and are associated with financial guarantees of $16.5 billion. The company expects these agreements to represent more than 50% of fiscal year 2027 bits and about two-thirds of fiscal year 2028 bits. Pricing includes fixed and variable components and floor and ceiling prices, with attractive margins expected even at floor prices.
Management believes artificial intelligence inference increases the need to store and retrieve data with low latency, supporting demand for high-capacity enterprise SSDs. Data center revenue increased 437% in fiscal year 2026 to $5.153 billion, and the business's share of bits rose from about 12% to 38% within a year. In Q4 fiscal year 2026, the company began generating revenue from the QLC-based Stargate platform while expanding compute-focused TLC products. It is also developing high-bandwidth flash and exploring its use with cloud and device customers, without announcing a specific shipment date on the August 5, 2026 call.
Automated analysis for informational purposes only — not investment advice.
The company expects revenue of between $10.3 and $10.8 billion, supported by bit growth and modest price increases. It expects an adjusted gross margin of between 83% and 85% and adjusted operating expenses of between $520 and $540 million. The adjusted earnings per share range is $44–46 based on 155 million diluted shares. It also expects capital expenditures to approach 6% of fiscal year 2027 revenue as investment in BiCS 8 and BiCS 10 increases.
The strength of results depends heavily on NAND prices, as two-thirds of Q4 fiscal year 2026 growth came from pricing rather than volumes. Management expects smartphone and personal computer units to decline by mid-teens percentages during calendar year 2026, while consumer product revenue declined 32% sequentially. Supply shortages limit the ability to meet demand, with bit allocation expected to continue beyond calendar year 2027. Building higher inventory to serve the agreements will also keep sellable bit growth in the mid-teens during fiscal year 2027.
The company spent $4.5 billion to repurchase 2.836 million shares during Q4 fiscal year 2026. On August 10, 2026, the board of directors added a $14 billion authorization, bringing the total remaining authorization to $15.5 billion. The program is supported by operating cash flow of $11.7 billion in fiscal year 2026, compared with $84 million in the previous year. However, management emphasized that investment in research and development, BiCS transitions, and the joint venture takes priority over capital returns.
