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Side-by-side financial comparison of Sandisk Corp (SNDK) and Western Digital (WDC). Click either name above to swap in a different company.
Sandisk Corp is the larger business by last-quarter revenue ($3.0B vs $3.0B, roughly 1.0× Western Digital). Western Digital runs the higher net margin — 61.1% vs 26.5%, a 34.5% gap on every dollar of revenue. On growth, Sandisk Corp posted the faster year-over-year revenue change (78.5% vs 31.5%).
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.
Western Digital Corporation, doing business as WD, is an American data storage company headquartered in San Jose, California. Established in 1970, the company is one of the world's largest manufacturers of hard disk drives (HDDs).
SNDK vs WDC — Head-to-Head
Income Statement — Q2 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $3.0B | $3.0B |
| Net Profit | $803.0M | $1.8B |
| Gross Margin | 50.9% | 45.7% |
| Operating Margin | 35.2% | 30.1% |
| Net Margin | 26.5% | 61.1% |
| Revenue YoY | 78.5% | 31.5% |
| Net Profit YoY | 141.5% | 254.2% |
| EPS (diluted) | $5.15 | $4.73 |
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 | $3.0B | ||
| Q4 25 | $2.3B | $2.8B | ||
| Q2 25 | $1.9B | $-1.2B | ||
| Q1 25 | $1.7B | $2.3B | ||
| Q4 24 | $1.9B | $4.3B | ||
| Q3 24 | $1.9B | $4.1B | ||
| Q2 24 | — | $3.8B | ||
| Q1 24 | $1.7B | $3.5B |
| Q1 26 | $803.0M | $1.8B | ||
| Q4 25 | $112.0M | $1.2B | ||
| Q2 25 | $-23.0M | $282.0M | ||
| Q1 25 | $-1.9B | $520.0M | ||
| Q4 24 | $104.0M | $594.0M | ||
| Q3 24 | $211.0M | $493.0M | ||
| Q2 24 | — | $39.0M | ||
| Q1 24 | $27.0M | $135.0M |
| Q1 26 | 50.9% | 45.7% | ||
| Q4 25 | 29.8% | 43.5% | ||
| Q2 25 | 26.2% | — | ||
| Q1 25 | 22.5% | 39.8% | ||
| Q4 24 | 32.3% | 35.4% | ||
| Q3 24 | 38.6% | 37.9% | ||
| Q2 24 | — | 35.9% | ||
| Q1 24 | 27.2% | 29.0% |
| Q1 26 | 35.2% | 30.1% | ||
| Q4 25 | 7.6% | 28.1% | ||
| Q2 25 | 0.9% | — | ||
| Q1 25 | -111.0% | 33.1% | ||
| Q4 24 | 10.4% | 19.9% | ||
| Q3 24 | 15.5% | 18.1% | ||
| Q2 24 | — | 5.7% | ||
| Q1 24 | 3.8% | 7.9% |
| Q1 26 | 26.5% | 61.1% | ||
| Q4 25 | 4.9% | 41.9% | ||
| Q2 25 | -1.2% | -24.4% | ||
| Q1 25 | -114.0% | 22.7% | ||
| Q4 24 | 5.5% | 13.9% | ||
| Q3 24 | 11.2% | 12.0% | ||
| Q2 24 | — | 1.0% | ||
| Q1 24 | 1.6% | 3.9% |
| Q1 26 | $5.15 | $4.73 | ||
| Q4 25 | $0.75 | $3.07 | ||
| Q2 25 | $-0.17 | $0.72 | ||
| Q1 25 | $-13.33 | $1.42 | ||
| Q4 24 | $0.72 | $1.63 | ||
| Q3 24 | $1.46 | $1.35 | ||
| Q2 24 | — | $0.15 | ||
| Q1 24 | $0.19 | $0.34 |
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 | $2.0B |
| Total DebtLower is stronger | $603.0M | $4.7B |
| Stockholders' EquityBook value | $10.2B | $7.1B |
| Total Assets | $13.0B | $15.6B |
| Debt / EquityLower = less leverage | 0.06× | 0.65× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.5B | $2.0B | ||
| Q4 25 | $1.4B | $2.0B | ||
| Q2 25 | $1.5B | $2.1B | ||
| Q1 25 | $1.5B | $3.5B | ||
| Q4 24 | $804.0M | $2.3B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.9B | ||
| Q1 24 | — | $1.9B |
| Q1 26 | $603.0M | $4.7B | ||
| Q4 25 | $1.4B | $4.7B | ||
| Q2 25 | $1.8B | $4.7B | ||
| Q1 25 | $1.9B | $7.3B | ||
| Q4 24 | — | $7.4B | ||
| Q3 24 | — | $7.4B | ||
| Q2 24 | — | $7.4B | ||
| Q1 24 | — | $7.8B |
| Q1 26 | $10.2B | $7.1B | ||
| Q4 25 | $9.4B | $5.9B | ||
| Q2 25 | $9.2B | $5.3B | ||
| Q1 25 | $9.2B | $5.2B | ||
| Q4 24 | $12.0B | $12.1B | ||
| Q3 24 | $12.1B | $11.6B | ||
| Q2 24 | — | $10.8B | ||
| Q1 24 | $10.9B | $10.1B |
| Q1 26 | $13.0B | $15.6B | ||
| Q4 25 | $12.7B | $14.4B | ||
| Q2 25 | $13.0B | $14.0B | ||
| Q1 25 | $13.0B | $16.4B | ||
| Q4 24 | $14.2B | $25.5B | ||
| Q3 24 | — | $24.8B | ||
| Q2 24 | — | $24.2B | ||
| Q1 24 | — | $23.8B |
| Q1 26 | 0.06× | 0.65× | ||
| Q4 25 | 0.14× | 0.80× | ||
| Q2 25 | 0.20× | 0.89× | ||
| Q1 25 | 0.21× | 1.42× | ||
| Q4 24 | — | 0.61× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | — | 0.77× |
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 | — |
| Free Cash FlowOCF − Capex | $980.0M | — |
| FCF MarginFCF / Revenue | 32.4% | — |
| Capex IntensityCapex / Revenue | 1.3% | — |
| Cash ConversionOCF / Net Profit | 1.27× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.0B | — | ||
| Q4 25 | $488.0M | $672.0M | ||
| Q2 25 | — | $746.0M | ||
| Q1 25 | $26.0M | $508.0M | ||
| Q4 24 | $95.0M | $403.0M | ||
| Q3 24 | $-131.0M | $34.0M | ||
| Q2 24 | — | $366.0M | ||
| Q1 24 | — | $58.0M |
| Q1 26 | $980.0M | — | ||
| Q4 25 | $438.0M | $599.0M | ||
| Q2 25 | — | $675.0M | ||
| Q1 25 | $-18.0M | $379.0M | ||
| Q4 24 | $47.0M | $287.0M | ||
| Q3 24 | $-198.0M | $-62.0M | ||
| Q2 24 | — | $250.0M | ||
| Q1 24 | — | $-39.0M |
| Q1 26 | 32.4% | — | ||
| Q4 25 | 19.0% | 21.3% | ||
| Q2 25 | — | -58.5% | ||
| Q1 25 | -1.1% | 16.5% | ||
| Q4 24 | 2.5% | 6.7% | ||
| Q3 24 | -10.5% | -1.5% | ||
| Q2 24 | — | 6.6% | ||
| Q1 24 | — | -1.1% |
| Q1 26 | 1.3% | — | ||
| Q4 25 | 2.2% | 2.6% | ||
| Q2 25 | — | -6.2% | ||
| Q1 25 | 2.6% | 5.6% | ||
| Q4 24 | 2.6% | 2.7% | ||
| Q3 24 | 3.6% | 2.3% | ||
| Q2 24 | — | 3.1% | ||
| Q1 24 | — | 2.8% |
| Q1 26 | 1.27× | — | ||
| Q4 25 | 4.36× | 0.57× | ||
| Q2 25 | — | 2.65× | ||
| Q1 25 | — | 0.98× | ||
| Q4 24 | 0.91× | 0.68× | ||
| Q3 24 | -0.62× | 0.07× | ||
| Q2 24 | — | 9.38× | ||
| Q1 24 | — | 0.43× |
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% |
WDC
| Cloud | $2.7B | 89% |
| Client Devices | $176.0M | 6% |
| Consumer | $168.0M | 6% |
