Sandisk Corp. (SNDK) financial statements: income statement, balance sheet and cash flow
Sandisk Corp.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Jul 3, 2026 · FY), Sandisk Corp. reported revenue of $20.2B (+175.3% year on year) and net income of $11.4B (+796.7% year on year).
Income statement
Sandisk Corp. income statement, fiscal years
Line item
Jul 3, 2026 · FY
Jun 27, 2025 · FY
Revenue, net
$20.2B
$7.4B
Cost of revenue
$5.8B
$5.1B
Gross profit
$14.5B
$2.2B
Research and development
$1.3B
$1.1B
Selling, general and administrative
$676.0M
$573.0M
Goodwill impairment
$0
$1.8B
Loss on debt extinguishment
$46.0M
—
Business separation costs
$25.0M
$67.0M
Employee termination and other
($2.0M)
$21.0M
(Gain) loss on business divestiture
$10.0M
($34.0M)
Total operating expenses
$2.1B
$3.6B
Operating income (loss)
$12.4B
($1.4B)
Gain (loss) on equity securities, net
$808.0M
—
Interest income
$70.0M
$22.0M
Interest expense
($73.0M)
($63.0M)
Other income (expense), net
($177.0M)
($61.0M)
Total interest and other income (expense), net
$628.0M
($102.0M)
Income (loss) before taxes
$13.0B
($1.5B)
Income tax expense
$1.6B
$162.0M
Net income (loss)
$11.4B
($1.6B)
Basic (in dollars per share)
$77.78
-$11.32
Diluted (in dollars per share)
$73.76
-$11.32
Basic (in shares)
147.0M
145.0M
Diluted (in shares)
155.0M
145.0M
Sandisk Corp. income statement, quarters
Line item
Apr 3, 2026 · Q3
Jan 2, 2026 · Q2
Oct 3, 2025 · Q1
Mar 28, 2025 · Q3
Revenue, net
$6.0B
$3.0B
$2.3B
$1.7B
Cost of revenue
$1.3B
$1.5B
$1.6B
$1.3B
Gross profit
$4.7B
$1.5B
$687.0M
$382.0M
Research and development
$337.0M
$327.0M
$316.0M
$285.0M
Selling, general and administrative
$161.0M
$139.0M
$179.0M
$139.0M
Goodwill impairment
$0
—
—
$1.8B
Loss on debt extinguishment
$46.0M
—
—
—
Business separation costs
$7.0M
$9.0M
$9.0M
$9.0M
Employee termination and other
$0
$1.0M
($3.0M)
$0
(Gain) loss on business divestiture
$0
$0
$10.0M
$0
Total operating expenses
$551.0M
$476.0M
$511.0M
$2.3B
Operating income (loss)
$4.1B
$1.1B
$176.0M
($1.9B)
Interest income
$12.0M
$12.0M
$16.0M
$6.0M
Interest expense
($6.0M)
($25.0M)
($40.0M)
($16.0M)
Other income (expense), net
($10.0M)
($115.0M)
($28.0M)
($10.0M)
Total interest and other income (expense), net
($4.0M)
($128.0M)
($52.0M)
($20.0M)
Income (loss) before taxes
$4.1B
$937.0M
$124.0M
($1.9B)
Income tax expense
$492.0M
$134.0M
$12.0M
$32.0M
Net income (loss)
$3.6B
$803.0M
$112.0M
($1.9B)
Basic (in dollars per share)
$24.43
$5.46
$0.77
-$13.33
Diluted (in dollars per share)
$23.03
$5.15
$0.75
-$13.33
Basic (in shares)
148.0M
147.0M
146.0M
145.0M
Diluted (in shares)
157.0M
156.0M
149.0M
145.0M
Balance sheet
Sandisk Corp. balance sheet, fiscal years
Line item
Jul 3, 2026 · FY
Jun 27, 2025 · FY
Cash and cash equivalents
$4.8B
$1.5B
Accounts receivable, net
$4.7B
$1.1B
Inventories
$2.7B
$2.1B
Income tax receivable
$22.0M
$66.0M
Other current assets
$590.0M
$392.0M
Total current assets
$12.8B
$5.1B
Marketable equity securities
$1.8B
—
Property, plant and equipment, net
$674.0M
$619.0M
Notes receivable and investments in Flash Ventures
$678.0M
$654.0M
Goodwill
$5.0B
$5.0B
Income tax receivable, non-current
$169.0M
$80.0M
Deferred tax assets
$66.0M
$58.0M
Other non-current assets
$1.4B
$1.5B
Total assets
$22.5B
$13.0B
Accounts payable
$976.0M
$766.0M
Accrued expenses
$313.0M
$425.0M
Accrued compensation
$657.0M
$173.0M
Refund liabilities
$1.5B
—
Contract liabilities
$849.0M
—
Income tax payable, current
$1.3B
$43.0M
Current portion of long-term debt
$0
$20.0M
Total current liabilities
$5.6B
$1.4B
Non-current contract liabilities
$393.0M
—
Deferred tax liabilities
$161.0M
$17.0M
Income tax payable, non-current
$258.0M
—
Long-term debt
$0
$1.8B
Other liabilities
$378.0M
$496.0M
Total liabilities
$6.8B
$3.8B
Common stock, $0.01 par value; authorized — 450 shares; issued — 149 shares and outstanding — 146000000 shares (issued and outstanding as of June 27, 2025 — 146000000 shares)
1.0M
1.0M
Treasury stock
($4.5B)
—
Additional paid-in capital
$10.9B
$11.2B
Accumulated other comprehensive loss
($256.0M)
($249.0M)
Retained earnings (Accumulated deficit)
$9.6B
($1.8B)
Total shareholders’ equity
$15.7B
$9.2B
Total liabilities and shareholders’ equity
$22.5B
$13.0B
Sandisk Corp. balance sheet, quarters
Line item
Apr 3, 2026
Jan 2, 2026
Oct 3, 2025
Mar 28, 2025
Cash and cash equivalents
$3.7B
$1.5B
$1.4B
$1.5B
Accounts receivable, net
$2.7B
$1.2B
$1.2B
$979.0M
Inventories
$2.2B
$2.0B
$1.9B
$2.2B
Income tax receivable
$81.0M
$45.0M
$72.0M
$53.0M
Other current assets
$388.0M
$357.0M
$370.0M
$391.0M
Total current assets
$9.2B
$5.2B
$5.0B
$5.1B
Property, plant and equipment, net
$649.0M
$631.0M
$630.0M
$603.0M
Notes receivable and investments in Flash Ventures
$684.0M
$677.0M
$602.0M
$662.0M
Goodwill
$5.0B
$5.0B
$5.0B
$5.0B
Deferred tax assets
$87.0M
$62.0M
$57.0M
$51.0M
Income tax receivable, non-current
$134.0M
$98.0M
$61.0M
$79.0M
Other non-current assets
$1.4B
$1.4B
$1.4B
$1.5B
Total assets
$17.1B
$13.0B
$12.7B
$13.0B
Accounts payable
$851.0M
$869.0M
$884.0M
$758.0M
Contract liabilities
$323.0M
—
—
—
Accrued expenses
$383.0M
$393.0M
$382.0M
$446.0M
Accrued compensation
$329.0M
$273.0M
$208.0M
$114.0M
Income tax payable, current
$31.0M
$99.0M
$22.0M
$37.0M
Current portion of long-term debt
$0
$20.0M
$20.0M
$20.0M
Total current liabilities
$1.9B
$1.7B
$1.5B
$1.4B
Deferred tax liabilities
$17.0M
$22.0M
$28.0M
$17.0M
Income tax payable, non-current
$783.0M
—
—
—
Long-term debt
$0
$583.0M
$1.3B
$1.9B
Non-current contract liabilities
$188.0M
—
—
—
Other liabilities
$393.0M
$526.0M
$493.0M
$480.0M
Total liabilities
$3.3B
$2.8B
$3.4B
$3.8B
Common stock, $0.01 par value; authorized — 450 shares; issued and outstanding — 148 shares and 146000000 shares, respectively
1.0M
1.0M
1.0M
1.0M
Additional paid-in capital
$11.3B
$11.3B
$11.3B
$11.2B
Retained earnings (Accumulated deficit)
$2.7B
($869.0M)
($1.7B)
($1.8B)
Accumulated other comprehensive loss
($259.0M)
($255.0M)
($234.0M)
($306.0M)
Total shareholders’ equity
$13.8B
$10.2B
$9.4B
$9.2B
Total liabilities and shareholders’ equity
$17.1B
$13.0B
$12.7B
$13.0B
Cash flow statement
Sandisk Corp. cash flow statement, fiscal years
Line item
Jul 3, 2026 · FY
Jun 27, 2025 · FY
Net income (loss)
$11.4B
($1.6B)
Depreciation and amortization
$149.0M
$163.0M
Stock-based compensation
$232.0M
$182.0M
Goodwill impairment
$0
$1.8B
Deferred income taxes
$120.0M
($12.0M)
(Gain) loss on disposal of assets
$5.0M
($1.0M)
Gain (loss) on equity securities, net
($808.0M)
—
Unrealized foreign exchange (gain) loss
$86.0M
($25.0M)
(Gain) loss on business divestiture
$10.0M
($34.0M)
Loss on debt extinguishment
$46.0M
—
Amortization of debt issuance costs and discounts
$7.0M
$3.0M
Equity loss in investees, net of dividends received
$160.0M
$74.0M
Settlement of accrued interest on Notes due to Western Digital Corporation
$0
($99.0M)
Other non-cash operating activities, net
$19.0M
$23.0M
Accounts receivable, net
($3.6B)
($100.0M)
Inventories
($619.0M)
($160.0M)
Accounts payable
$109.0M
$93.0M
Accounts payable to related parties
$60.0M
($23.0M)
Accrued expenses
$10.0M
$13.0M
Accrued compensation
$460.0M
$21.0M
Refund liability
$1.4B
—
Contract liabilities
$1.2B
—
Income taxes payable
$1.4B
—
Other assets and liabilities, net
($129.0M)
($224.0M)
Net cash provided by (used in) operating activities
$11.7B
$84.0M
Purchase of marketable equity securities
($970.0M)
—
Purchases of property, plant and equipment
($177.0M)
($204.0M)
Proceeds from the sale of property, plant and equipment
$0
$0
Proceeds from dispositions of business
$25.0M
$401.0M
Notes receivable issuances to Flash Ventures
($462.0M)
($333.0M)
Notes receivable proceeds from Flash Ventures
$187.0M
$515.0M
Distributions from Flash Ventures
$0
$176.0M
Strategic investments and other, net
$11.0M
$1.0M
Net cash provided by (used in) investing activities
($1.4B)
$556.0M
Issuance of stock under employee stock plans
$53.0M
$5.0M
Taxes paid on vested stock awards under employee stock plans
($630.0M)
($13.0M)
Repurchases of common stock
($4.5B)
—
Proceeds from debt
$0
$2.0B
Repayment of debt
($1.9B)
($100.0M)
Debt issuance costs
$0
($32.0M)
Proceeds from borrowings on Notes due to Western Digital Corporation
$0
$550.0M
Proceeds from principal repayments on Notes due from Western Digital Corporation
$0
$101.0M
Repayments of principal on Notes due to Western Digital Corporation
$0
($76.0M)
Transfers from (to) Western Digital Corporation
$0
($1.9B)
Origination of Notes due from Western Digital Corporation
$0
$0
Sandisk Corp. cash flow statement, quarters
Line item
Apr 3, 2026 · YTD
Jan 2, 2026 · YTD
Oct 3, 2025 · Q1
Mar 28, 2025 · YTD
Net income (loss)
$4.5B
$915.0M
$112.0M
($1.6B)
Depreciation and amortization
$112.0M
$74.0M
$36.0M
$127.0M
Stock-based compensation
$165.0M
$111.0M
$53.0M
$133.0M
Goodwill impairment
$0
—
—
$1.8B
Deferred income taxes
($42.0M)
($10.0M)
$3.0M
$7.0M
(Gain) loss on disposal of assets
$1.0M
$0
—
($1.0M)
Impairment of cost method investments
$5.0M
$5.0M
—
$1.0M
Unrealized foreign exchange (gain) loss
$39.0M
$20.0M
$1.0M
($6.0M)
(Gain) loss on business divestiture
$10.0M
$10.0M
$10.0M
($34.0M)
Loss on debt extinguishment
$46.0M
—
—
—
Amortization of debt issuance costs and discounts
$6.0M
$5.0M
$2.0M
$1.0M
Equity loss in investees, net of dividends received
$58.0M
$46.0M
$27.0M
$68.0M
Gain on sale of investments
($9.0M)
($9.0M)
—
$0
Other non-cash operating activities, net
$20.0M
$27.0M
($6.0M)
$17.0M
Settlement of accrued interest on Notes due to Western Digital Corporation
$0
$0
$0
($99.0M)
Accounts receivable, net
($1.7B)
($171.0M)
($125.0M)
($11.0M)
Inventories
($159.0M)
$109.0M
$172.0M
($241.0M)
Accounts payable
$36.0M
$75.0M
$30.0M
$99.0M
Accounts payable to related parties
$35.0M
$33.0M
$86.0M
($28.0M)
Contract liabilities
$486.0M
—
—
—
Accrued expenses
($21.0M)
($38.0M)
($43.0M)
$3.0M
Income taxes payable
$640.0M
—
—
—
Accrued compensation
$156.0M
$100.0M
$35.0M
($38.0M)
Other assets and liabilities, net
$89.0M
$205.0M
$95.0M
($220.0M)
Net cash provided by (used in) operating activities
$4.5B
$1.5B
$488.0M
($10.0M)
Purchases of property, plant and equipment
($134.0M)
($89.0M)
($50.0M)
($159.0M)
Proceeds from dispositions of business
$25.0M
$25.0M
$25.0M
$401.0M
Notes receivable issuances to Flash Ventures
($339.0M)
($256.0M)
($87.0M)
($274.0M)
Notes receivable proceeds from Flash Ventures
$174.0M
$129.0M
$97.0M
$428.0M
Distributions from Flash Ventures
$0
$0
—
$176.0M
Strategic investments and other, net
$11.0M
$11.0M
—
$1.0M
Net cash provided by (used in) investing activities
($263.0M)
($180.0M)
($15.0M)
$573.0M
Issuance of stock under employee stock plans
$24.0M
$24.0M
—
—
Taxes paid on vested stock awards under employee stock plans
($149.0M)
($47.0M)
($15.0M)
($6.0M)
Proceeds from debt
$0
—
—
$2.0B
Repayment of debt
($1.9B)
($1.3B)
($500.0M)
—
Debt issuance costs
$0
—
—
($32.0M)
Proceeds from borrowings on Notes due to Western Digital Corporation
$0
$0
—
$550.0M
Proceeds from principal repayments on Notes due from Western Digital Corporation
$0
$0
$0
$101.0M
Repayments of principal on Notes due to Western Digital Corporation
$0
$0
$0
($76.0M)
Transfers to Western Digital Corporation
$0
$0
$0
($1.9B)
Net cash provided by (used in) financing activities