SanDisk Corp (SNDK)

Activity ratios

Short-term

Turnover ratios

	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	Mar 31, 2013	Dec 31, 2012	Sep 30, 2012	Jun 30, 2012	Mar 31, 2012	Dec 31, 2011	Sep 30, 2011	Jun 30, 2011
Inventory turnover	3.79	4.09	4.31	4.44	5.03	5.10	4.39	4.34	3.90	4.10	4.01	4.42	4.32	4.22	3.70	3.57	4.06	5.97	4.19	4.82
Receivables turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Payables turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Working capital turnover	2.28	1.52	2.33	3.73	3.88	3.30	3.09	2.45	2.41	1.80	2.17	1.77	1.74	2.04	2.10	2.26	1.75	1.84	1.91	1.82

Inventory Turnover Ratio Analysis:

SanDisk Corp's inventory turnover ratio has fluctuated over the years, with a range between 3.57 and 5.97. A higher inventory turnover ratio indicates that the company is managing its inventory efficiently, selling its products quickly, and replenishing its stock effectively. The decreasing trend from 2012 to 2016 may suggest potential issues with inventory management or slower sales growth compared to the inventory on hand.

Receivables Turnover Ratio Analysis:

Unfortunately, the data provided does not include information on SanDisk Corp's receivables turnover ratio for the specified periods. This ratio assesses how efficiently a company is collecting its accounts receivable, which is crucial for maintaining a healthy cash flow. Without this data, it is challenging to evaluate the effectiveness of the company's accounts receivable management.

Payables Turnover Ratio Analysis:

Similar to the receivables turnover ratio, the payables turnover ratio is not available in the provided data. This ratio measures how quickly a company is paying off its suppliers and is essential for understanding the company's payment policies and liquidity management.

Working Capital Turnover Ratio Analysis:

SanDisk Corp's working capital turnover ratio has shown some fluctuations over the years, ranging from 1.52 to 3.88. A higher working capital turnover ratio indicates that the company is generating more revenue per dollar of working capital employed, which is a positive sign of operational efficiency. The increase in the working capital turnover ratio from 2011 to 2015 suggests improved utilization of working capital to generate sales. However, the decline in 2016 indicates a potential decrease in revenue generation efficiency compared to the previous year.

Overall, while the inventory turnover and working capital turnover ratios provide insights into SanDisk Corp's operational efficiency and capital utilization, the absence of data on receivables and payables turnover ratios hinders a comprehensive evaluation of the company's overall liquidity and working capital management.

Average number of days

		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	Mar 31, 2013	Dec 31, 2012	Sep 30, 2012	Jun 30, 2012	Mar 31, 2012	Dec 31, 2011	Sep 30, 2011	Jun 30, 2011
Days of inventory on hand (DOH)	days	96.20	89.31	84.68	82.25	72.57	71.57	83.11	84.14	93.55	88.93	90.95	82.57	84.53	86.51	98.57	102.11	89.88	61.11	87.03	75.80
Days of sales outstanding (DSO)	days	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Number of days of payables	days	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

SanDisk Corp's Days of Inventory on Hand (DOH) fluctuated over the period under review. The company's inventory holding period varied from a low of 61.11 days on December 31, 2011, to a high of 102.11 days on June 30, 2012. However, it generally remained within a range of 70-90 days in recent years, indicating a moderate level of efficiency in managing its inventory.

The information on Days of Sales Outstanding (DSO) and Number of Days of Payables is not available, which limits a comprehensive analysis of the company's overall activity ratios. In circumstances where data points are missing, it is difficult to evaluate the efficiency of the company in collecting receivables and managing payables.

Overall, a detailed analysis of SanDisk Corp's activity ratios could not be performed fully due to the unavailability of complete data on all relevant metrics.

Long-term

	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	Mar 31, 2013	Dec 31, 2012	Sep 30, 2012	Jun 30, 2012	Mar 31, 2012	Dec 31, 2011	Sep 30, 2011	Jun 30, 2011
Fixed asset turnover	7.08	6.81	6.93	7.52	8.37	9.15	9.56	9.99	9.91	9.41	8.89	8.35	7.87	7.59	8.31	10.20	12.30	16.42	18.21	19.29
Total asset turnover	0.59	0.60	0.63	0.66	0.68	0.64	0.62	0.61	0.60	0.59	0.67	0.59	0.50	0.49	0.49	0.52	0.56	0.65	0.55	0.55

SanDisk Corp's fixed asset turnover has shown a declining trend over the years, starting from 19.29 in June 2011 and falling to 7.08 by March 2016. This indicates that the company's efficiency in generating sales from its fixed assets has decreased significantly.

In comparison, the total asset turnover ratio, which measures the company's ability to generate sales from all its assets, has been relatively stable over the same period. It ranged from 0.49 to 0.68, showing minor fluctuations but no clear trend.

Overall, the decreasing trend in fixed asset turnover suggests that SanDisk Corp may not be efficiently utilizing its fixed assets to generate sales. This could raise concerns about the company's asset management and operational efficiency, potentially impacting its profitability and long-term financial performance.