ADI
Analog Devices, Inc.
ADI has the edge over ASTS overall, supported by lower modeled downside and stronger fundamentals.
ASTS
AST SpaceMobile, Inc.
ASTS offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
ADI Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Healthy |
ADI's revenue, profitability, cash flow and balance sheet are all currently healthy.
ASTS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Weak | |
| Weak | |
| Unavailable |
ASTS's revenue is currently healthy, but its profitability and cash flow are weak. There isn't enough data to rate its balance sheet.
ADI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 24x | $409 | — |
| Cheap | 30x | $252 | -38% |
| Fair | 41x | $349 | -15% |
| Current | 49x | $409 | — |
| Expensive | 63x | $535 | +31% |
Historical ranges are pointers, not guarantees.
ADI's PE is in its fair range at 49x. If earnings grow as analysts expect, today's price would be 24x next year's earnings, in its cheap range.
ASTS PE Valuation
ASTS has no meaningful PE right now: it lost money over the past year.
ADI Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| Moderate |
Analysts expect strong earnings and revenue growth for ADI, with profitability improving.
ASTS Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Strong growth | |
| -- | |
| Limited | |
| Low |
Analysts expect ASTS's losses to grow, with revenue growing. However, they disagree widely on these estimates.
ADI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $16.89 | +100% |
| Q3 2026 | $8.43 | +116% |
| Q2 2026 | $6.73 | +84% |
| Q1 2026 | $5.47 | +75% |
| Q4 2025 | $4.56 | +39% |
| Q3 2025 | $3.91 | +17% |
| Q2 2025 | $3.66 | -15% |
| Q1 2025 | $3.13 | -44% |
| Q4 2024 | $3.28 | -50% |
ADI has the edge over ASTS on earnings quality, reporting a profit while its opponent remains loss making.
ASTS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$2.15 | -$0.91 |
| Q2 2026 | -$2.16 | -$0.27 |
| Q1 2026 | -$1.80 | +$0.19 |
| Q4 2025 | -$1.34 | +$0.61 |
| Q3 2025 | -$1.24 | +$0.88 |
| Q2 2025 | -$1.89 | -$0.64 |
| Q1 2025 | -$1.99 | -$1.01 |
| Q4 2022 | -$0.58 | -$0.21 |
ASTS is still losing money, but far less than before: $2.15 per share over the past year, against $5.76 at its worst in mid-2021.
ADI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4B | +40% |
| Q2 2026 | $3.6B | +37% |
| Q1 2026 | $3.2B | +30% |
| Q4 2025 | $3.1B | +26% |
| Q3 2025 | $2.9B | +25% |
| Q2 2025 | $2.6B | +22% |
| Q1 2025 | $2.4B | -3.6% |
| Q4 2024 | $2.4B | -10% |
ADI's revenue has grown year over year for six quarters in a row: $4B last quarter, up 40% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 40% | +12 points |
| Q2 2026 | 38% | +12 points |
| Q1 2026 | 32% | +11 points |
| Q4 2025 | 31% | +7.4 points |
| Q3 2025 | 28% | +7.1 points |
| Q2 2025 | 26% | +7.8 points |
| Q1 2025 | 20% | -3 points |
| Q4 2024 | 23% | 0 points |
ADI has the edge over ASTS on profitability, with a higher operating margin.
ASTS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $42.3M | +187% |
| Q2 2026 | $31.5M | +2627% |
| Q1 2026 | $14.7M | +1952% |
| Q4 2025 | $54.3M | +2731% |
| Q3 2025 | $14.7M | +1240% |
| Q2 2025 | $1.2M | +28% |
| Q1 2025 | $718K | +44% |
| Q3 2022 | $4.2M | +70% |
ASTS has the edge over ADI on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -415% | +694 points |
| Q2 2026 | -948% | +10744 points |
| Q1 2026 | -1686% | +7083 points |
| Q4 2025 | -175% | +2446 points |
| Q3 2025 | -1109% | +4850 points |
| Q2 2025 | -11692% | -4693 points |
| Q1 2025 | -8769% | +2331 points |
| Q4 2024 | -2621% | N/A |
ASTS's operating margin was −415% last quarter, up 694 points from the same quarter a year ago.
ADI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.5B | +34% |
| Q2 2026 | $734.3M | +0.7% |
| Q1 2026 | $1.3B | +29% |
| Q4 2025 | $1.5B | +68% |
| Q3 2025 | $1.1B | +55% |
| Q2 2025 | $729.2M | +18% |
| Q1 2025 | $977.8M | +6.8% |
| Q4 2024 | $885.4M | +25% |
ADI has the edge over ASTS on cash generation, producing positive trailing cash flow while its opponent burns cash.
ASTS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$464.2M | -$161.4M |
| Q2 2026 | -$694.8M | -$341.1M |
| Q1 2026 | -$309.7M | -$160.7M |
| Q4 2025 | -$330.7M | -$220.3M |
| Q3 2025 | -$302.9M | -$239.1M |
| Q2 2025 | -$353.6M | -$315.3M |
| Q1 2025 | -$149M | -$61.3M |
| Q4 2024 | -$110.5M | -$63.2M |
ASTS has burned cash in almost every quarter: −$1.8B over the past year, against −$916M the year before.
ADI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.3% | -1.6M shares |
| 1 year | -1.6% | -7.9M shares |
| 3 years | -2.9% | -14.7M shares |
| 5 years | +31% | +116M shares |
| Available history | +31% | +116M shares |
ADI has the edge over ASTS on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $1.2B |
| Q2 2026 | $772.9M |
| Q1 2026 | $516.5M |
| Q4 2025 | $680.5M |
| Q3 2025 | $1.1B |
| Q2 2025 | $248.6M |
| Q1 2025 | $160.4M |
| Q4 2024 | $94.9M |
ADI spent $3.1B buying back its own shares over the past year, up 98% from the year before.
ASTS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +1.1M shares |
| 1 year | +10% | +27.3M shares |
| 3 years | +235% | +211M shares |
| 5 years | +480% | +248M shares |
| Available history | +944% | +271M shares |
ASTS has 300M diluted shares, up 10% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
ADI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.0x | Healthy |
| Q2 2026 | 1.0x | Healthy |
| Q1 2026 | 1.1x | Healthy |
| Q4 2025 | 1.3x | Healthy |
| Q3 2025 | 1.4x | Healthy |
| Q2 2025 | 1.1x | Healthy |
| Q1 2025 | 1.3x | Healthy |
| Q4 2024 | 1.4x | Healthy |
ADI's net debt is about a year of its operating earnings (EBITDA), down from 1.4 years a year ago.
ASTS Net Leverage
ASTS's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
ADI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 55.7 | Neutral |
| Stochastic | 56.9 | Neutral |
ADI's weekly RSI is 56 (neutral) and its Stochastic is 57 (neutral).
ASTS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 34.1 | Neutral |
| Stochastic | 11.9 | Oversold |
ASTS's weekly RSI is 34 (neutral) and its Stochastic is 12 (oversold).
ADI PE vs Technology Sector
| Metric | ADI | Sector median | Relative |
|---|---|---|---|
| PE | 49x | 28x | 74% above |
| PE % | 62 | 35 | 27 pts above |
ADI is trading at 49x earnings, a 74% premium to the Technology sector's median of 28x.
ASTS PE vs Technology Sector
ASTS has no meaningful PE right now: it lost money over the past year.
ADI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $399.2 | 2.5% above |
| 20 week MA | $385.6 | 6.1% above |
| 50 week MA | $360.9 | 13% above |
| 100 week MA | $292.3 | 40% above |
| 200 week MA | $245.2 | 67% above |
ADI has the edge over ASTS on trend strength, trading above more of its moving averages.
ASTS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $44.9 | 23% below |
| 20 week MA | $57.1 | 40% below |
| 50 week MA | $75.5 | 54% below |
| 100 week MA | $57.8 | 40% below |
| 200 week MA | $33.6 | 2.8% above |
ASTS has fallen below most of its moving averages, though it's still 2.8% above its 200-week average.
ADI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $119.5 | $144.5 | +21% |
| 2021 | $144.5 | $172.7 | +20% |
| 2022 | $172.7 | $163.8 | -5.1% |
| 2023 | $163.8 | $198.6 | +21% |
| 2024 | $198.6 | $217.0 | +9.3% |
| 2025 | $217.0 | $276.8 | +28% |
| 2026 YTD | $276.8 | $409.3 | +48% |
ADI has the edge over ASTS on returns for 2026, with the stronger performance.
ASTS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $9.87 | $13.4 | +36% |
| 2021 | $13.4 | $8.71 | -35% |
| 2022 | $8.71 | $3.97 | -54% |
| 2023 | $3.97 | $6.03 | +52% |
| 2024 | $6.03 | $22.9 | +280% |
| 2025 | $22.9 | $72.0 | +214% |
| 2026 YTD | $72.0 | $34.5 | -52% |
ASTS's yearly returns have swung widely, from +280% in 2024 to −54% in 2022. It's down 52% so far in 2026.