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Side-by-side financial comparison of Sandisk Corp (SNDK) and Toast, Inc. (TOST). Click either name above to swap in a different company.
Sandisk Corp is the larger business by last-quarter revenue ($3.0B vs $1.6B, roughly 1.9× Toast, Inc.). Sandisk Corp runs the higher net margin — 26.5% vs 6.2%, a 20.4% gap on every dollar of revenue. On growth, Sandisk Corp posted the faster year-over-year revenue change (78.5% vs 22.0%). Sandisk Corp produced more free cash flow last quarter ($980.0M vs $178.0M).
Sandisk Corporation is an American multinational computer technology company based in Milpitas, California, that designs and manufactures flash memory products, including memory cards, USB flash drives, and solid-state drives. It was founded in 1988 as SunDisk by Eli Harari, Sanjay Mehrotra, and Jack Yuan. The name is a portmanteau of the founder’s name Sanjay and disk.
Toast, Inc. is an American cloud-based restaurant management software company based in Boston, Massachusetts. The company provides an all-in-one point of sale (POS) system built on the Android operating system.
SNDK vs TOST — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.0B | $1.6B |
| Net Profit | $803.0M | $101.0M |
| Gross Margin | 50.9% | 25.9% |
| Operating Margin | 35.2% | 5.2% |
| Net Margin | 26.5% | 6.2% |
| Revenue YoY | 78.5% | 22.0% |
| Net Profit YoY | 141.5% | 215.6% |
| EPS (diluted) | $5.15 | $0.18 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $3.0B | — | ||
| Q4 25 | $2.3B | $1.6B | ||
| Q3 25 | — | $1.6B | ||
| Q2 25 | $1.9B | $1.6B | ||
| Q1 25 | $1.7B | $1.3B | ||
| Q4 24 | $1.9B | $1.3B | ||
| Q3 24 | $1.9B | $1.3B | ||
| Q2 24 | — | $1.2B |
| Q1 26 | $803.0M | — | ||
| Q4 25 | $112.0M | $101.0M | ||
| Q3 25 | — | $105.0M | ||
| Q2 25 | $-23.0M | $80.0M | ||
| Q1 25 | $-1.9B | $56.0M | ||
| Q4 24 | $104.0M | $32.0M | ||
| Q3 24 | $211.0M | $56.0M | ||
| Q2 24 | — | $14.0M |
| Q1 26 | 50.9% | — | ||
| Q4 25 | 29.8% | 25.9% | ||
| Q3 25 | — | 26.5% | ||
| Q2 25 | 26.2% | 25.3% | ||
| Q1 25 | 22.5% | 25.9% | ||
| Q4 24 | 32.3% | 24.9% | ||
| Q3 24 | 38.6% | 24.7% | ||
| Q2 24 | — | 23.0% |
| Q1 26 | 35.2% | — | ||
| Q4 25 | 7.6% | 5.2% | ||
| Q3 25 | — | 5.1% | ||
| Q2 25 | 0.9% | 5.2% | ||
| Q1 25 | -111.0% | 3.2% | ||
| Q4 24 | 10.4% | 2.5% | ||
| Q3 24 | 15.5% | 2.6% | ||
| Q2 24 | — | 0.4% |
| Q1 26 | 26.5% | — | ||
| Q4 25 | 4.9% | 6.2% | ||
| Q3 25 | — | 6.4% | ||
| Q2 25 | -1.2% | 5.2% | ||
| Q1 25 | -114.0% | 4.2% | ||
| Q4 24 | 5.5% | 2.4% | ||
| Q3 24 | 11.2% | 4.3% | ||
| Q2 24 | — | 1.1% |
| Q1 26 | $5.15 | — | ||
| Q4 25 | $0.75 | $0.18 | ||
| Q3 25 | — | $0.16 | ||
| Q2 25 | $-0.17 | $0.13 | ||
| Q1 25 | $-13.33 | $0.09 | ||
| Q4 24 | $0.72 | $0.09 | ||
| Q3 24 | $1.46 | $0.07 | ||
| Q2 24 | — | $0.02 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.5B | $1.4B |
| Total DebtLower is stronger | $603.0M | — |
| Stockholders' EquityBook value | $10.2B | $2.1B |
| Total Assets | $13.0B | $3.1B |
| Debt / EquityLower = less leverage | 0.06× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.4B | $1.4B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | $1.5B | $1.2B | ||
| Q1 25 | $1.5B | $1.0B | ||
| Q4 24 | $804.0M | $903.0M | ||
| Q3 24 | — | $761.0M | ||
| Q2 24 | — | $691.0M |
| Q1 26 | $603.0M | — | ||
| Q4 25 | $1.4B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $1.8B | — | ||
| Q1 25 | $1.9B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $10.2B | — | ||
| Q4 25 | $9.4B | $2.1B | ||
| Q3 25 | — | $2.0B | ||
| Q2 25 | $9.2B | $1.8B | ||
| Q1 25 | $9.2B | $1.7B | ||
| Q4 24 | $12.0B | $1.5B | ||
| Q3 24 | $12.1B | $1.4B | ||
| Q2 24 | — | $1.3B |
| Q1 26 | $13.0B | — | ||
| Q4 25 | $12.7B | $3.1B | ||
| Q3 25 | — | $3.0B | ||
| Q2 25 | $13.0B | $2.8B | ||
| Q1 25 | $13.0B | $2.6B | ||
| Q4 24 | $14.2B | $2.4B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | $2.2B |
| Q1 26 | 0.06× | — | ||
| Q4 25 | 0.14× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.20× | — | ||
| Q1 25 | 0.21× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.0B | $194.0M |
| Free Cash FlowOCF − Capex | $980.0M | $178.0M |
| FCF MarginFCF / Revenue | 32.4% | 10.9% |
| Capex IntensityCapex / Revenue | 1.3% | 1.0% |
| Cash ConversionOCF / Net Profit | 1.27× | 1.92× |
| TTM Free Cash FlowTrailing 4 quarters | — | $608.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.0B | — | ||
| Q4 25 | $488.0M | $194.0M | ||
| Q3 25 | — | $165.0M | ||
| Q2 25 | — | $223.0M | ||
| Q1 25 | $26.0M | $79.0M | ||
| Q4 24 | $95.0M | $147.0M | ||
| Q3 24 | $-131.0M | $109.0M | ||
| Q2 24 | — | $124.0M |
| Q1 26 | $980.0M | — | ||
| Q4 25 | $438.0M | $178.0M | ||
| Q3 25 | — | $153.0M | ||
| Q2 25 | — | $208.0M | ||
| Q1 25 | $-18.0M | $69.0M | ||
| Q4 24 | $47.0M | $134.0M | ||
| Q3 24 | $-198.0M | $97.0M | ||
| Q2 24 | — | $108.0M |
| Q1 26 | 32.4% | — | ||
| Q4 25 | 19.0% | 10.9% | ||
| Q3 25 | — | 9.4% | ||
| Q2 25 | — | 13.4% | ||
| Q1 25 | -1.1% | 5.2% | ||
| Q4 24 | 2.5% | 10.0% | ||
| Q3 24 | -10.5% | 7.4% | ||
| Q2 24 | — | 8.7% |
| Q1 26 | 1.3% | — | ||
| Q4 25 | 2.2% | 1.0% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | 2.6% | 0.7% | ||
| Q4 24 | 2.6% | 1.0% | ||
| Q3 24 | 3.6% | 0.9% | ||
| Q2 24 | — | 1.3% |
| Q1 26 | 1.27× | — | ||
| Q4 25 | 4.36× | 1.92× | ||
| Q3 25 | — | 1.57× | ||
| Q2 25 | — | 2.79× | ||
| Q1 25 | — | 1.41× | ||
| Q4 24 | 0.91× | 4.59× | ||
| Q3 24 | -0.62× | 1.95× | ||
| Q2 24 | — | 8.86× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SNDK
| Edge | $1.7B | 55% |
| Consumer | $907.0M | 30% |
| Datacenter | $440.0M | 15% |
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
