SNDK · Sandisk Corp
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AI Brief
Q4 FY26 earnings call · Aug 5, 2026TL;DR. Sandisk delivered record fiscal Q4 results well above guidance and signed five additional New Business Model (NBM) agreements, while authorizing a new $14 billion share repurchase program and guiding Q1 FY27 revenue to $10.3–$10.8 billion.
- + Q4 FY26 revenue of $8,965M, up 51% sequentially and 372% year-over-year, beat the high end of guidance.
- + Record Q4 non-GAAP gross margin of 84.6% and non-GAAP operating margin of 79.2% materially exceeded guidance.
- + Q4 non-GAAP EPS of $39.25 beat the high end of the $30–$33 guidance range, with adjusted free cash flow of $5,035M.
- + Signed five additional NBMs (including three new customers) bringing total to eight customers, with NBMs to cover over 50% of FY27 bits and ~two-thirds of FY28 bits.
- + Board approved an additional $14 billion share repurchase authorization, bringing total remaining to $15.5 billion.
- − Q4 consumer revenue declined 32% sequentially to $556M.
- − Q1 FY27 non-GAAP gross margin guided to 83–85%, modestly below the 84.6% reported in Q4, despite continued pricing growth.
- − Sellable bit growth in FY27 is expected to be only mid-teens, lower than the long-term mid-to-high-teens target, due to higher inventory build for NBMs.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Research
our published analysis of this company
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders NeutralIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
Earlier KPI extraction records exist, but do not meet the current evidence-completeness requirements. No current verified series is available. Earlier figures remain withheld until revalidated; this is not evidence that the company reports no KPIs.
Versus peers
Computer Hardware — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
SNDK
this stock
Sandisk Corp
|
$223.63B | +544.9% | +175.3% | 20.7 | 4.1% |
|
DELL
Dell Technologies Inc.
|
$360.75B | +331.8% | +18.8% | 33.0 | 2.3% |
|
ANET
Arista Networks, Inc.
|
$243.21B | +47.2% | +28.6% | 61.0 | 1.2% |
|
STX
Seagate Technology Holdings plc
|
$173.37B | +180.3% | -36.7% | 55.0 | 3.7% |
|
WDC
Western Digital Corp
|
$147.96B | +139.1% | +35.7% | 16.9 | 5.5% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| SNDK | -11.9% | -14.3% | +117.9% | -2.3% | +544.9% |
| SPY | -1.1% | -2.0% | +16.0% | -1.3% | +11.1% |
| vs SPY | -10.8% | -12.3% | +102.0% | -1.0% | +533.8% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.