HIGHBuilt-inGeographic
80%
international sales
“10-K Item 1: 'Our international sales ... represented 80%, 86% and 81% of our net revenue for 2025, 2024 and 2023, respectively.'”
SNDK · Concentration risk · 10-K extracted
Sandisk (SNDK) concentration risks
Updated
The most significant concentration Sandisk discloses is international sales at 80%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Sandisk’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 4 disclosed concentrations
HIGH4
MEDIUM0
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHOutside partySupplier
Kioxia (Flash Ventures)
“10-K Item 1: 'Substantially all of our flash-based memory is obtained from our joint ventures with Kioxia, which provides us with leading-edge, high-quality and low-cost flash memory wafers.'”
HIGHBuilt-inGeographic
produced overseas
“10-K Item 1A: 'A large portion of our revenue is derived from our international operations, and substantially all of our products are produced overseas.'”
HIGHOutside partySupplier
sole or single source providers
“10-K Item 1: 'we source some of our components from a limited number of sole or single source providers.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-09-06Sandisk's concentration profile is dominated by geography and its manufacturing joint venture. International sales made up 80% of net revenue in fiscal 2025, down from 86% and 81% in the two prior years — a high-share, structural exposure tied to global demand cycles rather than any single counterparty. That geographic tilt is reinforced on the production side: substantially all products are produced overseas, another high-share structural feature of the cost base. The more idiosyncratic risk sits with suppliers: the company sources substantially all of its flash-based memory through joint ventures with Kioxia, a high-share dependency tying output directly to one partner's fab capacity and technology roadmap, and it also relies on sole or single source providers for certain components, another high-share dependency. Together, these exposures net out to a company whose revenue and production are structurally concentrated overseas, with an added layer of counterparty risk: any disruption at Kioxia or among the single-source suppliers could constrain output in a way a purely macro or geographic shock would not. The Kioxia relationship is the one line item most capable of moving the verdict on its own.
For the engine’s reasoning on SNDK’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Computer Hardware
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| SNDK● | Sandisk Corporation | 4 | 0 | 0 | 4 |
| CRCT | Cricut, Inc. | 2 | 1 | 0 | 3 |
| ANET | Arista Networks, Inc. | 0 | 2 | 1 | 3 |
| CRSR | Corsair Gaming, Inc. | 0 | 2 | 0 | 2 |
| DDD | 3D Systems Corporation | 0 | 0 | 0 | 0 |
| DELL | Dell Technologies Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.