Sandisk Corp (SNDK)
Gross profit margin
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 2,212,000 | 2,350,000 | 2,431,000 | 1,986,000 | 1,072,000 | 979,325 | 1,141,183 | 1,583,013 | 2,255,392 | 2,257,069 | 2,371,981 | 2,586,289 | 2,861,560 | 3,067,848 | 3,185,233 | 3,170,088 | 3,087,257 | 2,867,483 | 2,672,069 | 2,252,997 |
| Revenue (ttm) | US$ in thousands | 7,355,000 | 7,214,000 | 7,224,000 | 7,013,000 | 6,663,000 | 6,268,740 | 6,106,890 | 5,894,170 | 5,598,370 | 5,564,870 | 5,756,970 | 6,051,180 | 6,447,990 | 6,627,690 | 6,620,300 | 6,498,960 | 6,341,210 | 6,170,000 | 5,983,640 | 5,631,680 |
| Gross profit margin | 30.07% | 32.58% | 33.65% | 28.32% | 16.09% | 15.62% | 18.69% | 26.86% | 40.29% | 40.56% | 41.20% | 42.74% | 44.38% | 46.29% | 48.11% | 48.78% | 48.69% | 46.47% | 44.66% | 40.01% |
June 30, 2025 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $2,212,000K ÷ $7,355,000K
= 30.07%
The analysis of Sandisk Corp's gross profit margin over the period from mid-2013 to mid-2025 reveals significant fluctuations and a general downward trend. In the initial period (June 30, 2013), the gross profit margin stood at approximately 40.01%, indicating a healthy margin during that time. Over the subsequent quarters in 2013 and 2014, the gross profit margin demonstrated an upward trajectory, reaching a peak of approximately 48.78% by June 30, 2014. This period of margin expansion suggests improved efficiency, favorable product pricing, or cost control measures.
Starting from late 2014 and into 2015, the gross profit margin began to decline, culminating at around 40.56% by December 31, 2015. From this point onward, there was a continued downward trend throughout 2016 and the subsequent years, with the margin approaching and eventually falling below 20% by late 2023 and early 2024. Specifically, the margin dropped to approximately 18.69% on December 31, 2023, and further declined to about 15.62% by March 31, 2024.
Following the early 2024 lows, the gross profit margin shows signs of recovery, rising to approximately 16.09% by June 30, 2024, and further increasing to roughly 28.32% by September 30, 2024. The subsequent periods reflect a moderate recovery trend, with the margin reaching around 33.65% at the end of 2024 and maintaining levels above 30% in the early months of 2025.
Overall, the pattern indicates a substantial decrease in gross profit margins from their highs in 2014, continuing into 2025, with brief periods of rebound. The long-term decline suggests pressures such as intensified competition, declining average selling prices, increased costs, or market shifts impacting profitability per unit sold. The recent upticks in 2024 imply some stabilization or improvement in gross margin performance, though margins remain significantly below prior peak levels.
Peer comparison
Jun 30, 2025