Sandisk FY2026: revenue $20.25 billion, net income $11.43 billion
Sandisk closed fiscal 2026 with revenue of $20.25 billion, up 175%, net income of $11.43 billion and a 71.5% gross margin, so the view here is Bullish — but read it as a price-driven memory upcycle, not steady compounding. Two-thirds of the latest quarter's sequential growth came from pricing, and guidance only extends the run by one quarter.
1 · Expected vs. Actual
Free preview belowFull-year GAAP EPS was $73.76 and non-GAAP was $70.88, while the fourth quarter delivered $43.97 GAAP and $39.25 non-GAAP. The consensus estimate of $35.14 sits below both quarterly figures, so the quarter beat on earnings — by 25.1% on GAAP and 11.7% on non-GAAP. The structured data carries $39.25 as its non-GAAP EPS, which is the quarterly figure, not the annual one.
Fiscal 2026 revenue was $20.25 billion, up 175% year over year, and the fourth quarter alone delivered $8.97 billion, up 51% sequentially and 372% year over year. The filing's own flags warn of a period mismatch: the XBRL revenue figure is $20.25 billion for the year while the extracted revenue lines, and the segment table, sum to $8.97 billion for the quarter. Treat $8.97 billion as the quarter and $20.25 billion as the year.
For the first quarter of fiscal 2027 Sandisk guides revenue of $10.30 billion to $10.80 billion, gross margin of 83.0% to 85.0%, and non-GAAP EPS of $44.00 to $46.00. The $10.55 billion midpoint is 17.7% above the $8.97 billion just reported, so management is not guiding to a plateau. The EPS guidance is non-GAAP and excludes $59 million to $81 million of stock-based compensation.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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