ADEA
Adeia Inc.
ADEA has lower modeled downside risk, despite its lower overall score.
SNDK
Sandisk Corporation
SNDK has the edge over ADEA overall, supported by stronger modeled upside.
ADEA Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Healthy | |
| Healthy |
ADEA's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
SNDK Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
SNDK's revenue, profitability, cash flow and balance sheet are all currently strong.
ADEA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 11x | $10.97 | -34% |
| Forward | 13x | $16.63 | — |
| Current | 16x | $16.63 | — |
| Fair | 23x | $23.29 | +40% |
| Expensive | 31x | $31.44 | +89% |
Historical ranges are pointers, not guarantees.
ADEA's PE is in its cheap range at 16x. On analysts' estimates for next year's earnings, today's price would be 13x.
SNDK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 3.8x | $937 | — |
| Current | 7.5x | $937 | — |
| Cheap | 17x | $2,173 | +132% |
| Fair | 24x | $3,048 | +225% |
| Expensive | 59x | $7,452 | +695% |
Historical ranges are pointers, not guarantees.
SNDK has the edge over ADEA in the historical PE scenario, which offers more potential upside but is not a forecast.
ADEA Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Decline | |
| Decline | |
| Strongly weakening | |
| Limited | |
| Low |
Analysts expect ADEA's earnings and revenue to decline, with profitability weakening. However, they disagree widely on these estimates.
SNDK Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| High |
SNDK has the edge over ADEA on the outlook, with more favorable earnings and revenue expectations.
ADEA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.32 | +28% |
| Q3 2026 | $1.03 | +58% |
| Q2 2026 | $1.09 | +47% |
| Q1 2026 | $1.09 | +65% |
| Q4 2025 | $0.99 | +74% |
| Q3 2025 | $0.65 | +76% |
| Q2 2025 | $0.74 | +80% |
| Q1 2025 | $0.66 | +89% |
| Q4 2024 | $0.57 | -5% |
ADEA earned $1.03 per share over the past year, up 58% from the year before.
SNDK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $247.30 | +97% |
| Q3 2026 | $125.61 | +$137.63 |
| Q2 2026 | $73.76 | +$85.07 |
| Q2 2025 | -$11.31 | -$6.65 |
SNDK has the edge over ADEA in the latest year-over-year earnings comparison.
ADEA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $80.2M | -8.2% |
| Q2 2026 | $96.1M | +12% |
| Q1 2026 | $104.8M | +20% |
| Q4 2025 | $182.6M | +53% |
| Q3 2025 | $87.3M | +1.4% |
| Q2 2025 | $85.7M | -1.8% |
| Q1 2025 | $87.7M | +5.1% |
| Q4 2024 | $119.2M | +37% |
ADEA's revenue is growing: $80M last quarter, down 8.2% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 11% | -20 points |
| Q2 2026 | 26% | +7.3 points |
| Q1 2026 | 33% | +7.2 points |
| Q4 2025 | 60% | +11 points |
| Q3 2025 | 31% | -1.7 points |
| Q2 2025 | 19% | -7.9 points |
| Q1 2025 | 26% | +2.8 points |
| Q4 2024 | 48% | +22 points |
ADEA's operating margin was 11% last quarter, down 20 points from the same quarter a year ago.
SNDK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $11B | +378% |
| Q2 2026 | $9B | +372% |
| Q1 2026 | $6B | +251% |
| Q4 2025 | $3B | +61% |
| Q3 2025 | $2.3B | +23% |
| Q2 2025 | $1.9B | +8% |
| Q1 2025 | $1.7B | -0.6% |
| Q4 2024 | $1.9B | +13% |
SNDK has the edge over ADEA on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 80% | +72 points |
| Q2 2026 | 78% | +78 points |
| Q1 2026 | 69% | +180 points |
| Q4 2025 | 35% | +25 points |
| Q3 2025 | 7.6% | -9 points |
| Q2 2025 | 0.9% | N/A |
| Q1 2025 | -111% | -122 points |
| Q4 2024 | 10% | +6.6 points |
SNDK has the edge over ADEA on profitability, with a higher operating margin.
ADEA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $4M | -76% |
| Q2 2026 | $54.1M | +136% |
| Q1 2026 | $58.1M | +2% |
| Q4 2025 | $59.4M | -44% |
| Q3 2025 | $17M | +20% |
| Q2 2025 | $22.9M | -0.5% |
| Q1 2025 | $56.9M | -14% |
| Q4 2024 | $106.9M | +185% |
ADEA's free cash flow has been positive every quarter for six years: $176M over the past year, down 14% from the year before.
SNDK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $6.3B | +1340% |
| Q2 2026 | $7.1B | +14355% |
| Q1 2026 | $3B | +$3B |
| Q3 2025 | $438M | +$636M |
| Q2 2025 | $49M | +$217M |
| Q1 2025 | -$18M | +$23M |
| Q3 2024 | -$198M | -$157M |
SNDK has the edge over ADEA on cash flow, with more consistent year-over-year improvement.
ADEA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -144K shares |
| 1 year | +1.3% | +1.4M shares |
| 3 years | +1.2% | +1.3M shares |
| 5 years | -71% | -282M shares |
| Available history | +128% | +64.1M shares |
ADEA has the edge over SNDK on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $10M |
| Q1 2026 | $10M |
| Q4 2025 | $10M |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | $11.3M |
| Q4 2023 | — |
ADEA spent $30M buying back its own shares over the past year.
SNDK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -1M shares |
| 1 year | +3.4% | +5M shares |
| 3 years | +6.9% | +10M shares |
SNDK has 154M diluted shares, up 3.4% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $5B |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
ADEA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.3x | Healthy |
| Q2 2026 | 1.2x | Healthy |
| Q1 2026 | 1.4x | Healthy |
| Q4 2025 | 1.5x | Healthy |
| Q3 2025 | 2.1x | Moderate |
| Q2 2025 | 2.0x | Moderate |
| Q1 2025 | 1.9x | Healthy |
| Q4 2024 | 2.0x | Healthy |
ADEA's net debt is about 1.3 years of its operating earnings (EBITDA), down from 2.1 years a year ago.
SNDK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.2x | Net Cash |
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -0.7x | Net Cash |
SNDK has the edge over ADEA on leverage, with a lower net debt burden relative to earnings.
ADEA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 33.0 | Neutral |
| Stochastic | 8.9 | Oversold |
ADEA's weekly RSI is 33 (neutral) and its Stochastic is 9 (oversold).
SNDK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.2 | Neutral |
| Stochastic | 10.6 | Oversold |
SNDK's weekly RSI is 40 (neutral) and its Stochastic is 11 (oversold).
ADEA PE vs Technology Sector
| Metric | ADEA | Sector median | Relative |
|---|---|---|---|
| PE | 16x | 28x | 42% below |
| PE % | 20 | 35 | 15 pts below |
ADEA is trading at 16x earnings, a 42% discount to the Technology sector's median of 28x.
SNDK PE vs Technology Sector
| Metric | SNDK | Sector median | Relative |
|---|---|---|---|
| PE | 7.5x | 28x | 73% below |
| PE % | 4 | 27 | 23 pts below |
SNDK has the edge over ADEA on valuation relative to its sector.
ADEA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $21.3 | 22% below |
| 20 week MA | $24.7 | 33% below |
| 50 week MA | $23.8 | 30% below |
| 100 week MA | $18.9 | 12% below |
| 200 week MA | $14.8 | 12% above |
ADEA has stronger trend alignment. ADEA is above 1 of 5 weekly averages versus SNDK above 0 of 3.
SNDK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,317.5 | 29% below |
| 20 week MA | $1,465.4 | 36% below |
| 50 week MA | $1,119.6 | 16% below |
SNDK is in a downtrend: it's below all three of its weekly moving averages, and 16% below its 50-week average.
ADEA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $4.86 | $5.50 | +13% |
| 2021 | $5.50 | $5.13 | -6.7% |
| 2022 | $5.13 | $9.48 | +85% |
| 2023 | $9.48 | $12.4 | +31% |
| 2024 | $12.4 | $13.8 | +11% |
| 2025 | $13.8 | $16.9 | +23% |
| 2026 YTD | $16.9 | $16.6 | -1.8% |
ADEA has finished higher in five of the last six years. It's down 1.8% so far in 2026.
SNDK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2025 | $50.4 | $250.1 | +396% |
| 2026 YTD | $250.1 | $937.5 | +275% |
SNDK has the edge over ADEA on returns for 2026, with the stronger performance.