Sandisk (SNDK)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
At a market value of $226.5B, Sandisk's free cash flow of $11.5B (fiscal 2026) would need to grow about 5% a year for the stock to be worth today's price.
Assumes a 9% discount rate and 3% growth after year 10, on free cash flow (operating cash flow minus capital spending) from Sandisk's SEC filings. Change any assumption, or model revenue and margins instead, in the Modeling tab, or try your own numbers in the reverse DCF calculator.
Fundamental grade
Five factors scored 1 to 9 from SNDK's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Sandisk's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| Revenue | $6.1B | $6.7B | $7.4B | $20.2B |
| Net income | -$2.1B | -$672M | -$1.6B | $11.4B |
| Free cash flow | -$932M | -$475M | -$120M | $11.5B |
| EPS (diluted) | -$14.78 | -$4.63 | -$11.32 | $73.76 |
| Operating margin | -33.4% | -7.0% | -18.7% | 61.2% |
Where the revenue comes from
Revenue by products, fiscal 2026.
Superinvestors who own SNDK
From each investor's latest 13F filing (what a 13F shows). 7 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Cliff Asness AQR Capital Management |
Trimmed | $965M | 0.34% | Q2 2026 |
| Joel Greenblatt Gotham Asset Management |
Trimmed | $141M | 0.33% | Q2 2026 |
| Stanley Druckenmiller Duquesne Family Office |
Trimmed | $79M | 1.5% | Q2 2026 |
| Robert Robotti Robotti & Company |
Trimmed | $7M | 1.1% | Q2 2026 |
| Mario Gabelli GAMCO Investors |
New position | $3M | 0.02% | Q2 2026 |
| Lee Ainslie Maverick Capital |
New position | $1M | 0.01% | Q2 2026 |
| PRIMECAP Management PRIMECAP Management Co |
Held | $909,492 | 0.00% | Q2 2026 |
Insider buying
Open-market purchases by Sandisk's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Mar 23, 2026 | Ro Khanna |
0 | $701.34 | — |
| Mar 23, 2026 | Ro Khanna |
0 | $701.34 | — |
| Mar 13, 2026 | Gilbert Ray Cisneros, Jr. |
0 | $661.62 | — |
| Mar 13, 2026 | Gilbert Ray Cisneros, Jr. |
0 | $661.62 | — |
| Jan 29, 2026 | Ro Khanna |
0 | $539.30 | — |
| Jan 29, 2026 | Ro Khanna |
0 | $539.30 | — |
| Jan 23, 2026 | Ro Khanna |
0 | $473.83 | — |
| Jan 23, 2026 | Ro Khanna |
0 | $473.83 | — |
| Jan 9, 2026 | Gilbert Ray Cisneros, Jr. |
0 | $377.41 | — |
| Jan 9, 2026 | Gilbert Ray Cisneros, Jr. |
0 | $377.41 | — |
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In the full deep dive
Questions
What growth does Sandisk's stock price imply?
At a market value of $226.5B, Sandisk would need its free cash flow to grow about 5% a year for 10 years (discounted at 9%, 3% growth after that) to be worth today's price.
Are Sandisk insiders buying the stock?
10 open-market insider purchases of SNDK in the last 12 months, from SEC Form 4 filings.
Which superinvestors own Sandisk?
7 of the superinvestors Investingly tracks hold SNDK in their latest 13F, including Cliff Asness, Joel Greenblatt, Stanley Druckenmiller.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.