Sandisk Corp (SNDK)

Days of inventory on hand (DOH)

Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013
Inventory turnover 2.47 2.25 2.21 2.43 2.86 — — — 3.79 4.09 4.31 4.44 5.03 5.10 4.39 4.34 3.90 4.10 4.01 4.42
DOH days 147.55 162.09 165.40 150.23 127.63 — — — 96.20 89.31 84.68 82.25 72.57 71.57 83.11 84.14 93.55 88.93 90.95 82.57

June 30, 2025 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 2.47
= 147.55

The analysis of Sandisk Corp's days of inventory on hand (DOH) over the specified period indicates notable fluctuations and trends. During the initial reported period on June 30, 2013, the DOH was approximately 82.57 days, reflecting a moderate level of inventory management. This figure increased slightly by September 30, 2013, to about 90.95 days, suggesting a buildup in inventory.

Throughout the subsequent quarters, the DOH remained relatively stable, fluctuating around the high 80s to low 90s days range, with December 31, 2013, at 88.93 days, and June 30, 2014, decreasing to 84.14 days. In the following period, there was a significant decline in inventory days, with December 31, 2014, reaching a low of approximately 71.57 days, indicating improved inventory turnover.

However, in the subsequent quarters, the DOH experienced an upward trend, peaking at 96.20 days on March 31, 2016. This indicates a longer duration of inventory held relative to sales, possibly reflecting slower sales or increased inventory accumulation. It is noteworthy that the DOH data beyond this point is incomplete, with no figures available for 2017 through 2023, and then resuming during 2024.

From June 30, 2024, onwards, the DOH exhibits a sharp increasing trend, rising to approximately 127.63 days by that quarter, and further escalating to 150.23 days by September 30, 2024, and 165.40 days by December 31, 2024. These increases suggest a significant elongation in inventory holding periods, possibly indicating challenges in inventory liquidation, subdued sales velocity, or strategic stockpiling.

In early 2025, the DOH remains elevated, with values remaining above 147 days in the first two quarters, specifically 162.09 days on March 31, 2025, and 147.55 days on June 30, 2025. The sustained high levels of inventory days in this period may reflect ongoing inventory management issues, shifts in demand, or strategic inventory buildup.

Overall, the trend from the early years up to 2016 shows relative stability in inventory management, followed by a marked increase in inventory holding periods from 2024 onward. The significant rise in DOH in recent quarters indicates potential concerns regarding inventory turnover efficiency, which could impact working capital and profitability if the trend persists.