SNDK Sandisk
too hard · 44
Owner-earnings value$1,598.55
Price$1,255.58
Margin of safety
+27.3%
Quality gate · 44/100
⚠ sub-hurdle returns (median roic -3% < 9%) · unprofitable in too many years
Median ROIC-3.4%
Gross margin71.5%
Net debt / EBITDA-0.3x
FCF conversion143%
Share count / yr+0.0%
Profitable years1/4
Moat & management
Owner-earnings inputs
| Owner earnings (TTM) | 11.43B |
| Owner-earnings yield | 6.3% |
| Free-cash-flow yield | 6.3% |
| Growth used (normalized) | 8.8% |
| Market-implied growth (reverse DCF) | 2.8% |
| Terminal growth | 3.0% |
| Discount rate (hurdle) | 9.5% |
Projected owner earnings
| Yr | Owner earnings | Growth | PV |
|---|---|---|---|
| 1 | 12.22B | 8.8% | 11.16B |
| 2 | 13.22B | 8.2% | 11.03B |
| 3 | 14.21B | 7.5% | 10.83B |
| 4 | 15.19B | 6.9% | 10.57B |
| 5 | 16.13B | 6.2% | 10.25B |
| 6 | 17.03B | 5.6% | 9.89B |
| 7 | 17.87B | 4.9% | 9.48B |
| 8 | 18.64B | 4.3% | 9.03B |
| 9 | 19.31B | 3.6% | 8.54B |
| 10 | 19.89B | 3.0% | 8.04B |
⚠ maintenance capex ≈ min(capex, D&A), capped at FCF · Net cash 4.6B credited to value (interest stripped from owner earnings to avoid double-counting). · Price pays for ~3%/yr owner-earnings growth over 10y (reverse DCF); model credits 9%. Capped at market + 6pts.