SNDK Analysis — TradeApes

Sandisk Corp (SNDK)

Technology Computer Hardware

$1,740.00 close · Sep 05, 2026

Inconclusive 69 Health · Healthy

Above 50 & 200 SMA

52W -25.5% from High

Methodology Breakdown

Mature

This company isn't generating positive cash flow yet, so a cash-flow valuation doesn't hold. Its worth hinges on a turnaround to sustained profits — or, failing that, its asset value — outcomes too binary for a single fair-value number. Publishing one would mean ignoring the losses actively eroding book value, so we hold off and show what each method computed below.

Method	Value	Role
Peer Multiples	$116.56	COMPUTED
Book Value Anchor	$315.51	COMPUTED
Earnings Anchor	$894.51	COMPUTED
Cash Floor	$21.23	COMPUTED
NAV Anchor	$315.51	COMPUTED

Computed — every method is shown for transparency; none was published as our estimate for this stock.

📈

Undervalued -31.6%

Market cap (319.06B) is 31.6% below the bear-case DCF fair value (466.33B)

Jul 02

Health Score

Out of 100

Healthy

Pillar Scores

Financial Strength

Operating Trend

Valuation

Overvalued 25

Capital Allocation

Risk Management

Positives

↑ operating-margin trend + inflection +6.0

↑ FCF margin + growth +4.8

↑ ROIC level + trend +3.6

Concerns

↓ ev_to_ebitda vs sector peers -4.7

↓ net share-count change -2.2

↓ earnings yield (absolute) -1.0

Signal contribution: +48.4 from strengths -11.4 from concerns

Health Score Trend 8 snapshots

Financials

TTM Financials

Revenue ?Total sales generated from the company's primary business activities over the trailing twelve months.	8.98B
Gross Profit ?Revenue minus cost of goods sold. What remains before operating expenses — reflects pricing power and production efficiency.	6.20B
Operating Income ?Profit from core business operations after all operating expenses (EBIT). Excludes interest and taxes.	5.18B
Net Income ?Bottom-line profit after all expenses, interest, and taxes are deducted from revenue.	4.42B
Free Cash Flow ?Operating cash flow minus capital expenditures. The actual cash the business generates after maintaining its assets — the truest measure of profitability.	4.41B
EBITDA ?Earnings before interest, taxes, depreciation & amortization. A proxy for operating cash earnings that strips out accounting and financing differences.	5.29B
Total Debt ?Combined short-term and long-term interest-bearing debt obligations. Compare against cash and earnings to gauge leverage risk.	$0
Cash & Equivalents ?Highly liquid assets on hand — cash, money market funds, and short-term securities. The company's immediate financial cushion.	4.76B

Valuation

Market Cap	273.18B
Enterprise Value	268.62B
EV / Revenue	29.9x
EV / EBITDA	50.8x
P/E (TTM)	61.8x
Forward P/E (extrapolated)	492.9x
PEG	1.4x
P/FCF	61.9x
FCF Yield	1.6%

EV/EBITDA vs history — 71% percentile (historically expensive)

CheapMidExpensive

EV/Sales vs history — 93% percentile (historically expensive)

CheapMidExpensive

P/Book vs history — 63% percentile (mid-range)

CheapMidExpensive

Relative Valuation

Using relative multiples

EV / Revenue

29.9x

Book Value / Share

$100.23

Price / Book

17.4x

P/E (TTM)

61.8x

Price / Sales

30.4x

Key Metrics

Gross Margin ?Gross profit as a % of revenue. Measures how efficiently the company produces its goods or services — higher is better.	69.1%
EBITDA Margin ?EBITDA as a % of revenue. Shows core operating profitability before accounting adjustments — useful for comparing across industries.	58.9%
Net Margin ?Net income as a % of revenue. The ultimate measure of overall profitability after every expense, interest payment, and tax is accounted for.	49.2%
FCF Margin ?Free cash flow as a % of revenue. Shows how much of each dollar of revenue converts into real, spendable cash.	49.1%
Revenue Growth (YoY) ?Year-over-year change in total revenue. Measures business momentum — sustained growth above 15% is typically considered strong.	22.0%
Net Income Growth (YoY) ?Year-over-year change in net income. Shows whether profits are growing faster or slower than revenue — a key indicator of improving or deteriorating quality.	369.2%
Piotroski F-Score ?Score from 0–9 measuring financial strength across profitability, leverage, and efficiency signals. 8–9 = strong, 0–2 = distressed.	6 / 9
Altman Z-Score ?Bankruptcy risk model. Above 2.99 = safe zone, 1.81–2.99 = grey zone, below 1.81 = distress signal. Most useful for manufacturing companies.	3.91

Community Sentiment

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Quarterly Financials

Metric	Q4 '26	Q3 '26	Q2 '26	Q1 '26	Q4 '25	Q3 '25	Q2 '26	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q3 '25
Revenue ?Total quarterly sales from primary business operations.	—	5.95B	3.03B	—	1.90B	1.70B	1.88B	1.88B	3.29B	1.71B	1.67B	—
Gross Profit ?Quarterly revenue minus cost of goods sold.	—	4.66B	1.54B	—	498.0M	382.0M	606.0M	726.0M	448.0M	463.0M	161.0M	—
Operating Income ?Quarterly profit from core operations before interest and taxes (EBIT).	—	4.11B	1.07B	—	18.0M	-1.88B	195.0M	291.0M	-288.0M	65.0M	-245.0M	—
Net Income ?Quarterly bottom-line profit after all expenses and taxes.	—	3.62B	803.0M	—	-23.0M	-1.93B	104.0M	211.0M	120.0M	27.0M	-301.0M	-518.0M
FCF ?Quarterly free cash flow: operating cash minus capital expenditures.	—	2.99B	980.0M	438.0M	49.0M	-18.0M	47.0M	-198.0M	-168.0M	-41.0M	-266.0M	—

Revenue & Free Cash Flow

Market Cap vs. DCF Fair Value Band

Shaded region = bear-to-bull DCF range. Line = actual market cap.

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Disclaimer: This analysis is for informational purposes only and does not constitute investment advice. Scores and valuations are derived from SEC filings and publicly available data. Always do your own research before making investment decisions.