SNDK vs WDC: Sandisk and Western Digital compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Sandisk is the larger company, worth $215.8B, about 1.6 times Western Digital.
- Sandisk grew revenue faster over the last year (+371.6% vs +43.8%).
- Sandisk keeps more of each dollar of revenue as operating profit (61.2% vs 34.5%).
- On earnings, Western Digital is the cheaper stock (23.4x vs 49.7x).
- Western Digital's price assumes faster free cash flow growth: about 14% a year, against 4% for Sandisk (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | SNDK | WDC |
|---|---|---|
| Market cap | $215.8B | $134.8B |
| Share price | $1,581.82 | $397.28 |
| Revenue (last fiscal year) | $20.2B | $12.9B |
| Free cash flow (last fiscal year) | $11.5B | $3.5B |
| Revenue growth, last year | +371.6% | +43.8% |
| Revenue growth per year, last 5 fiscal years | +49.3% | -8.9% |
| Operating margin | 61.2% | 34.5% |
| Net margin | 56.5% | 73.0% |
| Return on equity | 72.7% | 106.3% |
| P/E (trailing) | 49.7x | 23.4x |
| Price / free cash flow | — | 105.0x |
| EV / EBITDA | 18.6x | 21.9x |
| FCF growth the price implies | 4.2% | 13.5% |
| Dividend yield | — | 0.12% |
| Debt / equity | 0.43x | 0.56x |
| Fundamental grade | B | B |
| Superinvestors holding it | 7 | 6 |
| Insider purchases, last 12 months | 10 | 3 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Sandisk
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2023 | $6.1B | -$932M | -33.4% |
| 2024 | $6.7B | -$475M | -7.0% |
| 2025 | $7.4B | -$120M | -18.7% |
| 2026 | $20.2B | $11.5B | 61.2% |
Western Digital
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $18.8B | $758M | 12.7% |
| 2023 | $6.3B | -$1.2B | -8.8% |
| 2024 | $6.3B | -$781M | -6.4% |
| 2025 | $9.5B | $1.3B | 24.5% |
| 2026 | $12.9B | $3.5B | 34.5% |
Where the revenue comes from
Sandisk · by products, 2026
Edge$12.2B60%
Datacenter$5.2B25%
Consumer$2.9B14%
Western Digital · by segments, 2024
Flash$6.7B51%
HDD$6.3B49%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open SNDK in InvestinglyQuestions
Which is bigger, Sandisk or Western Digital?
Sandisk (SNDK), at $215.8B against $134.8B.
Is SNDK or WDC cheaper?
By trailing P/E, Western Digital (23.4x) is cheaper than Sandisk (49.7x). A lower multiple can also mean the market expects less growth.
Which grows faster, SNDK or WDC?
Sandisk: revenue grew +371.6% over the last year, against +43.8%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.