ASTS
AST SpaceMobile, Inc.
ASTS offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
LDOS
Leidos Holdings, Inc.
LDOS has the edge over ASTS overall, supported by lower modeled downside and stronger valuation.
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.
LDOS Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Stable |
LDOS's profitability and cash flow are currently healthy, and its revenue and balance sheet are stable.
ASTS PE Valuation
ASTS has no meaningful PE right now: it lost money over the past year.
LDOS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 11x | $131 | — |
| Current | 12x | $131 | — |
| Cheap | 16x | $180 | +37% |
| Fair | 19x | $218 | +66% |
| Expensive | 25x | $277 | +111% |
Historical ranges are pointers, not guarantees.
LDOS's PE is in its cheap range at 12x. On analysts' estimates for next year's earnings, today's price would be 11x.
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.
LDOS Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Stable | |
| Stable | |
| Stable | |
| Limited | |
| Moderate |
Analysts expect LDOS's earnings, revenue and profitability to hold roughly 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.
LDOS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $11.56 | +3.3% |
| Q3 2026 | $11.19 | +4.6% |
| Q2 2026 | $10.73 | +1.6% |
| Q1 2026 | $10.93 | +10% |
| Q4 2025 | $11.14 | +21% |
| Q3 2025 | $10.70 | +22% |
| Q2 2025 | $10.56 | +229% |
| Q1 2025 | $9.92 | +324% |
| Q4 2024 | $9.22 | +540% |
LDOS 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 has the edge over LDOS 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.
LDOS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.6B | +3.6% |
| Q2 2026 | $4.6B | +7.2% |
| Q1 2026 | $4.4B | +3.7% |
| Q4 2025 | $4.2B | -3.6% |
| Q3 2025 | $4.5B | +6.7% |
| Q2 2025 | $4.3B | +2.9% |
| Q1 2025 | $4.2B | +6.8% |
| Q4 2024 | $4.4B | +9.7% |
LDOS's revenue grew through 2025 and has held roughly level since: $4.6B last quarter, up 3.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 12% | 0 points |
| Q2 2026 | 11% | -2.2 points |
| Q1 2026 | 12% | -0.9 points |
| Q4 2025 | 11% | +1.6 points |
| Q3 2025 | 12% | -0.3 points |
| Q2 2025 | 13% | +1.9 points |
| Q1 2025 | 12% | +2.1 points |
| Q4 2024 | 9.6% | +0.6 points |
LDOS 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.
LDOS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $476M | -30% |
| Q2 2026 | $761M | +67% |
| Q1 2026 | $270M | +650% |
| Q4 2025 | $452M | +112% |
| Q3 2025 | $680M | +7.4% |
| Q2 2025 | $457M | +30% |
| Q1 2025 | $36M | -22% |
| Q4 2024 | $213M | -5.8% |
LDOS has the edge over ASTS on cash generation, producing positive trailing cash flow while its opponent burns cash.
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 | — |
LDOS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.8% | -1M shares |
| 1 year | -3.8% | -5M shares |
| 3 years | -8.8% | -12M shares |
| 5 years | -13% | -18M shares |
| Available history | -14% | -20M shares |
LDOS has the edge over ASTS on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $500M |
| Q2 2026 | $66M |
| Q1 2026 | $200M |
| Q4 2025 | $300M |
| Q3 2025 | $100M |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | $400M |
LDOS spent $1.1B buying back its own shares over the past year, up 113% from the year before.
ASTS Net Leverage
ASTS's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
LDOS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.3x | Moderate |
| Q2 2026 | 2.3x | Moderate |
| Q1 2026 | 2.5x | Moderate |
| Q4 2025 | 1.5x | Healthy |
| Q3 2025 | 1.6x | Healthy |
| Q2 2025 | 1.8x | Healthy |
| Q1 2025 | 1.9x | Healthy |
| Q4 2024 | 1.8x | Healthy |
LDOS's net debt is about 2.3 years of its operating earnings (EBITDA), up from 1.6 years a year ago.
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).
LDOS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.7 | Neutral |
| Stochastic | 66.9 | Neutral |
LDOS's weekly RSI is 49 (neutral) and its Stochastic is 67 (neutral).
ASTS PE vs Technology Sector
ASTS has no meaningful PE right now: it lost money over the past year.
LDOS PE vs Technology Sector
| Metric | LDOS | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 28x | 58% below |
| PE % | 4 | 35 | 31 pts below |
LDOS is trading at 12x earnings, a 58% discount to 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.
LDOS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $128.8 | 1.8% above |
| 20 week MA | $126.7 | 3.5% above |
| 50 week MA | $147.1 | 11% below |
| 100 week MA | $153.6 | 15% below |
| 200 week MA | $136.5 | 3.9% below |
LDOS has the edge over ASTS on trend strength, trading above more of its moving averages.
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.
LDOS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $98.2 | $104.2 | +6.1% |
| 2021 | $104.2 | $87.4 | -16% |
| 2022 | $87.4 | $105.2 | +20% |
| 2023 | $105.2 | $108.2 | +2.9% |
| 2024 | $108.2 | $144.5 | +33% |
| 2025 | $144.5 | $185.9 | +29% |
| 2026 YTD | $185.9 | $131.1 | -29% |
LDOS has the edge over ASTS on returns for 2026, with the stronger performance.