SanDiskSNDK -2.15%46 Operating Margin % is 69.98% as of Mar. 2026, which is 394% above its 10-year median of 14.18. GuruFocus rates SNDK with a GF Score™ of 46/100. The stock has 3 warning signs investors should review. Among 2,472 Hardware companies, SanDisk ranks better than 99.19% on this metric.
Operating Margin % is calculated as Operating Income divided by its Revenue. SanDisk's Operating Income for the
three
months ended in Mar. 2026 was $4,164 Mil. SanDisk's Revenue for the
three
months ended in Mar. 2026 was $5,950 Mil. Therefore, SanDisk's Operating Margin % for the quarter that ended in Mar. 2026 was 69.98%.
The historical rank and industry rank for SanDisk's Operating Margin % or its related term are showing as below:
SNDK'
s Operating Margin % Range Over the Past 10 Years
Min: -21.28 Med: 14.18 Max: 41.58
Current: 41.58
SNDK's Operating Margin % is ranked better than 99.19% of 2472
companies
in the Hardware industry
Industry Median: 3.8
vs SNDK: 41.58
SanDisk's 5-Year Average Operating Margin % Growth Rate was 0.00% per year.
SanDisk's Operating Income for the
three
months ended in Mar. 2026 was $4,164 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $5,482 Mil.
SanDisk (NAS:SNDK) Operating Margin % Explanation
Just like Gross Margin %, it is important to see a company maintains its operating margin over time. Among the same industry, a company with higher operating margin is more efficient in its operation. It is also more stable during industry slowdown or recessions. Peter Lynch prefers those with higher margins than those with lower margins.
Be Aware
Operating Margin % can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).
If a company is facing competition, its Operating Margin % may decline. Often the Operating Margin % declines well before the company's Revenue or even profit decline. Therefore, Operating Margin % is a very important indicator of whether the company is facing problems.
For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokias Operating Margin % had already been in decline since 2002, although its Earnings per Share (Diluted) were still rising. Investors who paid attention to Operating Margin % would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).
Therefore, Operating Margin % is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.
SanDisk Operating Margin % Related Terms
SanDisk Operating Margin % Historical Data
* Premium members only.
The historical data trend for SanDisk's Operating Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
SNDK vs DELL, ANET, STX: Operating Margin % Comparison
For the Computer Hardware subindustry, SanDisk's Operating Margin %, along with its competitors' market caps and Operating Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
SanDisk Operating Margin % vs Hardware Industry
For the Hardware industry and Technology sector, SanDisk's Operating Margin % distribution charts can be found below:
* The bar in red indicates where SanDisk's Operating Margin % falls into.
Operating Margin % - also known as operating income margin, operating profit margin and return on sales (ROS) - is the ratio of Operating Income divided by net sales or Revenue, usually presented in percent.
SanDisk's Operating Margin % for the fiscal year that ended in Jun. 2025 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
SanDisk (SNDK) has a Operating Margin % of 69.98% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on SanDisk and its competitors. This is 394% above median its historical median of 14.18. According to the industry distribution chart, SanDisk ranks #20 out of 2472 companies in the Hardware industry, placing it in the top 0.8%.
Is SanDisk's Operating Margin % too high?
SanDisk's current Operating Margin % of 69.98% is 394% above median its 10-year median of 14.18. The Hardware industry median Operating Margin % is 3.80. SanDisk's value of 69.98% is 1741.6% above this industry median. Based on the distribution chart, SanDisk ranks #20 out of 2472 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, SanDisk has a GF Score™ of 46/100, reflecting its overall financial health beyond just this single metric.
How does SanDisk's Operating Margin % compare to DELL and ANET?
According to the Hardware industry distribution chart, SanDisk ranks #20 out of 2472 companies for Operating Margin %. This places SanDisk in the top 1% of its industry — outperforming the majority of peers. The industry median Operating Margin % is 3.80. SanDisk's value of 69.98% is 1741.6% above this benchmark. While the company's 10-year median is 14.18 vs. the industry median of 3.80, SanDisk has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Margin % for a Hardware company?
The median Operating Margin % among Hardware companies is 3.80, based on 2,472 companies in the industry. Companies in the top quartile (top 25%) have a Operating Margin % significantly above this median, while those in the bottom quartile fall well below. However, Operating Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. SanDisk's current Operating Margin % of 69.98% is 1741.6% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Margin % mean?
A high Operating Margin % can signal that a stock is expensive relative to its fundamentals. Operating margin is the ratio of total operating income to net sales. View historical data on SanDisk and its competitors. For the Hardware industry, the median Operating Margin % is 3.80 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SanDisk's current Operating Margin % is 69.98%, which is 394% above median its own 10-year median of 14.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SanDisk stock overvalued right now?
SanDisk (SNDK) has a current Operating Margin % of 69.98%. The current Operating Margin % is 69.98%, which is 394% above median its 10-year median of 14.18 and 1741.6% above the Hardware industry median of 3.80. SanDisk's overall GF Score™ is 46/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Margin % calculated?
Operating Margin % is calculated from a company's financial statements. For SanDisk (SNDK), the current Operating Margin % is 69.98% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Sandisk is one of the five largest suppliers of NAND flash memory semiconductors globally. Sandisk is vertically integrated, producing substantially all of its flash chips at manufacturing sites across Japan via a joint-venture framework with Kioxia. Sandisk then repackages most of its chips into SSDs for consumer electronics, external storage, or cloud storage. Sandisk was formerly a piece of Western Digital for nine years (after being acquired in 2016) and was spun off as an independent company in 2025.
46GF Score
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