Sandisk Corp (SNDK)
Inventory turnover
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 5,143,000 | 4,864,000 | 4,793,000 | 5,027,000 | 5,591,000 | 5,289,411 | 4,965,703 | 4,311,158 | 3,342,975 | 3,307,803 | 3,384,995 | 3,464,893 | 3,586,437 | 3,559,853 | 3,435,072 | 3,260,973 | 3,121,031 | 3,106,742 | 3,115,222 | 3,197,669 |
| Inventory | US$ in thousands | 2,079,000 | 2,160,000 | 2,172,000 | 2,069,000 | 1,955,000 | — | — | — | 881,056 | 809,395 | 785,286 | 780,773 | 713,053 | 698,011 | 782,128 | 751,683 | 799,883 | 756,975 | 776,224 | 723,403 |
| 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 |
June 30, 2025 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $5,143,000K ÷ $2,079,000K
= 2.47
The inventory turnover ratio of Sandisk Corp exhibits notable fluctuations over the given period, reflecting changes in inventory management efficiency and sales performance. From June 30, 2013, through December 31, 2015, the ratio generally remained within a range of approximately 4.01 to 5.10, indicating relatively stable inventory management and consistent sales activity relative to inventory levels. The peak of 5.10 was observed at the end of 2014, suggesting periods of effective inventory utilization and strong sales relative to inventory holdings.
Subsequently, the ratio demonstrated a declining trend starting from March 31, 2016, with values dropping below 4.00 and continuing to decline through 2018 and into subsequent years. The data for the latter part of the period, from September 2023 onward, shows a significant decrease, reaching as low as 2.21 by the end of 2024. This sustained decline indicates a potential slowdown in sales velocity relative to inventory levels, or an increase in inventory holding periods, possibly reflecting inventory buildup, reduced demand, or shifts in inventory management strategies.
Moreover, the latest data points suggest a continued reduction in inventory turnover ratios, implying that inventory is remaining in stock longer than in previous years, which could signal concerns related to excess inventory or declining market demand. Overall, the trend depicts a gradual weakening in inventory turnover efficiency over the analyzed period, especially from late 2015 onward, with recent ratios indicating relatively lower sales relative to inventory levels compared to earlier years.
Peer comparison
Jun 30, 2025
Jun 30, 2025