ASTS
AST SpaceMobile, Inc.
ASTS trails on the overall score without a compensating advantage in the available component scores.
FN
Fabrinet
FN has the edge over ASTS overall, supported by lower modeled downside and stronger modeled upside.
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.
FN Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Under pressure | |
| Strong |
FN's revenue, profitability and balance sheet are currently healthy, but its cash flow is under pressure.
ASTS PE Valuation
ASTS has no meaningful PE right now: it lost money over the past year.
FN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 17x | $354 | — |
| Cheap | 19x | $258 | -27% |
| Fair | 25x | $335 | -5.4% |
| Current | 27x | $354 | — |
| Expensive | 33x | $437 | +23% |
Historical ranges are pointers, not guarantees.
FN's PE is in its fair range at 27x. If earnings grow as analysts expect, today's price would be 17x next year's earnings, in its cheap range.
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.
FN Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Stable | |
| Limited | |
| High |
Analysts expect strong earnings and revenue growth for FN, with profitability holding steady.
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.
FN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $20.94 | +58% |
| Q3 2026 | $13.25 | +37% |
| Q2 2026 | $13.05 | +42% |
| Q1 2026 | $11.63 | +30% |
| Q4 2025 | $10.43 | +17% |
| Q3 2025 | $9.70 | +15% |
| Q2 2025 | $9.17 | +13% |
| Q1 2025 | $8.98 | +19% |
| Q4 2024 | $8.94 | +29% |
FN has the edge over ASTS on earnings quality, reporting a profit while its opponent remains loss making.
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's revenue has grown year over year for 11 quarters in a row: $42M last quarter, up 187% from the same quarter a year ago.
| 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.
FN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.5B | +51% |
| Q2 2026 | $1.3B | +45% |
| Q1 2026 | $1.2B | +39% |
| Q4 2025 | $1.1B | +36% |
| Q3 2025 | $978.1M | +22% |
| Q2 2025 | $909.7M | +21% |
| Q1 2025 | $871.8M | +19% |
| Q4 2024 | $833.6M | +17% |
FN's revenue has grown year over year every quarter since late 2020: $1.5B last quarter, up 51% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 9.9% | +0.3 points |
| Q2 2026 | 10% | +0.4 points |
| Q1 2026 | 9.9% | +0.8 points |
| Q4 2025 | 10% | +0.5 points |
| Q3 2025 | 9.6% | +0.1 points |
| Q2 2025 | 9.8% | +0.1 points |
| Q1 2025 | 9.1% | -0.7 points |
| Q4 2024 | 9.6% | -0.1 points |
FN has the edge over ASTS on profitability, with a higher operating margin.
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.
FN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$137.4M | -340% |
| Q2 2026 | -$36.9M | -888% |
| Q1 2026 | -$10.8M | -124% |
| Q4 2025 | -$5.3M | -106% |
| Q3 2025 | $57.3M | -8.9% |
| Q2 2025 | $4.7M | -93% |
| Q1 2025 | $45.7M | -48% |
| Q4 2024 | $94M | +26% |
FN has the edge over ASTS on cash flow, with more consistent year-over-year improvement.
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 | — |
FN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -19K shares |
| 1 year | +0.4% | +136K shares |
| 3 years | -0.7% | -248K shares |
| 5 years | -2.9% | -1.1M shares |
| Available history | -4.1% | -1.5M shares |
FN has the edge over ASTS on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $29.1M |
| Q2 2026 | — |
| Q1 2026 | $151,000 |
| Q4 2025 | $4.8M |
| Q3 2025 | $268,000 |
| Q2 2025 | $22.3M |
| Q1 2025 | $34.8M |
| Q2 2024 | $3.5M |
FN spent $34M buying back its own shares over the past year.
ASTS Net Leverage
ASTS's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
FN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.5x | Net Cash |
| Q2 2026 | -0.7x | Net Cash |
| Q1 2026 | -0.7x | Net Cash |
| Q4 2025 | -0.7x | Net Cash |
| Q3 2025 | -0.8x | Net Cash |
| Q2 2025 | -0.8x | Net Cash |
| Q1 2025 | -0.9x | Net Cash |
| Q4 2024 | -1.2x | Net Cash |
FN has more cash than debt.
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).
FN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.3 | Neutral |
| Stochastic | 13.9 | Oversold |
FN's weekly RSI is 40 (neutral) and its Stochastic is 14 (oversold).
ASTS PE vs Technology Sector
ASTS has no meaningful PE right now: it lost money over the past year.
FN PE vs Technology Sector
| Metric | FN | Sector median | Relative |
|---|---|---|---|
| PE | 27x | 28x | 4.2% below |
| PE % | 60 | 35 | 25 pts above |
FN is trading at 27x earnings, in line with the Technology sector's median of 28x.
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.
FN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $381.8 | 7.3% below |
| 20 week MA | $430.4 | 18% below |
| 50 week MA | $508.0 | 30% below |
| 100 week MA | $396.1 | 11% below |
| 200 week MA | $287.6 | 23% above |
FN has fallen below most of its moving averages, though it's still 23% above its 200-week average.
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.
FN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $64.6 | $76.1 | +18% |
| 2021 | $76.1 | $118.0 | +55% |
| 2022 | $118.0 | $128.7 | +9% |
| 2023 | $128.7 | $190.3 | +48% |
| 2024 | $190.3 | $219.5 | +15% |
| 2025 | $219.5 | $478.3 | +118% |
| 2026 YTD | $478.3 | $353.8 | -26% |
FN has the edge over ASTS on returns for 2026, with the stronger performance.