Short answer
Sandisk (SNDK) filed its fiscal 2025 10-K annual report with the SEC on Aug 21, 2025. It reported revenue of $7.4B (+10.4% year over year) and net income of −$1.6B.
- Top risk flagged: Cash $692 million held outside U.S. as of June 27, 2025, up from $321 million in 2024 without new tax accruals
FY2025 key financial metrics · XBRL
- Revenue
- $7.4B
- +10.4% YoY
- Net income
- −$1.6B
- −144.2% YoY
- Operating margin
- -18.7%
- −11.7 pp YoY
- Gross margin
- 30.1%
- +14.0 pp YoY
- EPS (diluted)
- −$11.32
- −144.5% YoY
- ROE
- -17.8%
- −11.7 pp YoY
- Operating cash flow
- $84M
- +127.2% YoY
Source: XBRL data from the Sandisk (SNDK) FY2025 10-K on SEC EDGAR. USD.
Sandisk FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business in flash memory and data storage solutions
- Separation from Western Digital effective February 21, 2025, establishing standalone public company SNDK
- New independent operation post-separation, no longer a WDC subsidiary
- Market listing on Nasdaq Global Select Market under symbol “SNDK”
- Fiscal year 2025 uniquely marked by corporate independence event
Management Discussion & Analysis
- Revenue and profit performance data not disclosed in provided MD&A text
- Cash flow, capital allocation, buybacks, dividends, capex information not present
- Forward-looking statements referenced but no specific outlook, guidance, or risk details given
Risk Factors
- Cash $692 million held outside U.S. as of June 27, 2025, up from $321 million in 2024 without new tax accruals
- Cash conversion cycle 136 days in 2025, down from 152 days in 2024, driven by 23-day inventory reduction
- Increased days sales outstanding at 51 days in 2025 vs 48 in 2024 from shipment timing and lower receivables factoring
- Financing proceeds $1,970 million from Term Loan Facility in 2025, net repayments $100 million on same loan
- Vendor payment terms modified to manage cash flows and vendor relationships affecting days payable outstanding at (50) days
Generated from the filing text; verify against the original. How to read a 10-K
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