DSP
Viant Technology Inc.
DSP offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
MSFT
Microsoft Corporation
MSFT has the edge over DSP overall, supported by lower modeled downside and stronger modeled upside.
DSP Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Strong | |
| Strong |
DSP's revenue, profitability, cash flow and balance sheet are all currently healthy.
MSFT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Healthy | |
| Strong |
MSFT's revenue, profitability, cash flow and balance sheet are all currently healthy.
DSP PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 33x | $9.44 | -19% |
| Current | 40x | $11.59 | — |
| Forward | 52x | $11.59 | — |
| Fair | 83x | $24.08 | +108% |
| Expensive | 112x | $32.49 | +180% |
Historical ranges are pointers, not guarantees.
DSP's PE is in its fair range at 40x. On analysts' estimates for next year's earnings, today's price would be 52x.
MSFT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 25x | $523 | — |
| Cheap | 27x | $525 | +0.4% |
| Current | 27x | $523 | — |
| Fair | 34x | $652 | +25% |
| Expensive | 37x | $711 | +36% |
Historical ranges are pointers, not guarantees.
MSFT has the edge over DSP in the historical PE scenario, which offers more potential upside but is not a forecast.
DSP Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Stable | |
| Strong growth | |
| Stable | |
| Limited | |
| High |
Analysts expect DSP's revenue to grow, with its earnings and profitability holding steady.
MSFT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Strong growth | |
| Stable | |
| Moderate | |
| High |
MSFT has the edge over DSP on the outlook, with more favorable valuation and earnings expectations.
DSP Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.22 | -24% |
| Q3 2026 | $0.29 | +142% |
| Q2 2026 | $0.35 | +133% |
| Q1 2026 | $0.40 | +208% |
| Q4 2025 | $0.36 | +157% |
| Q3 2025 | $0.12 | +71% |
| Q2 2025 | $0.15 | +$0.20 |
| Q1 2025 | $0.13 | +$0.25 |
| Q4 2024 | $0.14 | +$0.37 |
DSP's earnings per share have fallen from their peak: $0.29 over the past year, against $1.43 in late 2020.
MSFT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $20.79 | +8.6% |
| Q3 2026 | $19.15 | +36% |
| Q2 2026 | $17.95 | +32% |
| Q1 2026 | $16.80 | +30% |
| Q4 2025 | $15.99 | +29% |
| Q3 2025 | $14.06 | +16% |
| Q2 2025 | $13.64 | +16% |
| Q1 2025 | $12.93 | +12% |
| Q4 2024 | $12.41 | +12% |
MSFT's earnings per share have climbed steadily: $19.15 over the past year, up 36% from the year before, and higher year over year for 14 quarters in a row.
DSP Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $110.4M | +29% |
| Q2 2026 | $104.3M | +34% |
| Q1 2026 | $88.5M | +25% |
| Q4 2025 | $110.1M | +22% |
| Q3 2025 | $85.6M | +7.1% |
| Q2 2025 | $77.9M | +18% |
| Q1 2025 | $70.6M | +32% |
| Q4 2024 | $90.1M | +40% |
DSP has the edge over MSFT on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 1.7% | -3.3 points |
| Q2 2026 | -3.7% | -3.7 points |
| Q1 2026 | -4.5% | +2.4 points |
| Q4 2025 | 12% | +5 points |
| Q3 2025 | 4.9% | -0.1 points |
| Q2 2025 | 0% | +1.2 points |
| Q1 2025 | -6.9% | +3.8 points |
| Q4 2024 | 6.5% | +5.2 points |
DSP's operating margin was 1.7% last quarter, down 3.3 points from the same quarter a year ago.
MSFT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $92.3B | +19% |
| Q2 2026 | $90B | +18% |
| Q1 2026 | $82.9B | +18% |
| Q4 2025 | $81.3B | +17% |
| Q3 2025 | $77.7B | +18% |
| Q2 2025 | $76.4B | +18% |
| Q1 2025 | $70.1B | +13% |
| Q4 2024 | $69.6B | +12% |
MSFT's revenue has grown year over year every quarter since late 2020: $92.3B last quarter, up 19% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 50% | +0.9 points |
| Q2 2026 | 45% | +0.2 points |
| Q1 2026 | 46% | +0.7 points |
| Q4 2025 | 47% | +1.6 points |
| Q3 2025 | 49% | +2.3 points |
| Q2 2025 | 45% | +1.8 points |
| Q1 2025 | 46% | +1.1 points |
| Q4 2024 | 45% | +1.9 points |
MSFT has the edge over DSP on profitability, with a higher operating margin.
DSP Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $4.1M | +44% |
| Q2 2026 | $27.6M | +35% |
| Q1 2026 | $2.6M | +$7.2M |
| Q4 2025 | $33M | +103% |
| Q3 2025 | $2.8M | -83% |
| Q2 2025 | $20.5M | +53% |
| Q1 2025 | -$4.6M | -238% |
| Q4 2024 | $16.3M | -29% |
DSP has the edge over MSFT on cash flow, with more consistent year-over-year improvement.
MSFT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $18.6B | -27% |
| Q2 2026 | $19.6B | -23% |
| Q1 2026 | $15.8B | -22% |
| Q4 2025 | $5.9B | -9.3% |
| Q3 2025 | $25.7B | +33% |
| Q2 2025 | $25.6B | +9.6% |
| Q1 2025 | $20.3B | -3.2% |
| Q4 2024 | $6.5B | -29% |
MSFT's free cash flow has been positive every quarter for seven years: $60B over the past year, down 23% from the year before.
DSP Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -67% | -44M shares |
| 1 year | +6.6% | +1.3M shares |
| 3 years | +40% | +6.1M shares |
DSP has 21M diluted shares, up 6.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
| Q4 2019 | — |
MSFT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -7M shares |
| 1 year | -0.3% | -20M shares |
| 3 years | -0.2% | -16M shares |
| 5 years | -1.6% | -121M shares |
| Available history | -3.2% | -245M shares |
MSFT has the edge over DSP on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $4.4B |
| Q2 2026 | $4.6B |
| Q1 2026 | $4.6B |
| Q4 2025 | $7.4B |
| Q3 2025 | $5.7B |
| Q2 2025 | $4.5B |
| Q1 2025 | $4.8B |
| Q4 2024 | $5B |
MSFT spent $21B buying back its own shares over the past year, up 5.2% from the year before.
DSP Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -6.4x | Net Cash |
| Q2 2026 | -6.4x | Net Cash |
| Q1 2026 | -5.7x | Net Cash |
| Q4 2025 | -6.2x | Net Cash |
| Q3 2025 | -7.0x | Net Cash |
| Q2 2025 | -7.8x | Net Cash |
| Q1 2025 | -8.3x | Net Cash |
| Q4 2024 | -10.3x | Net Cash |
DSP has the edge over MSFT on leverage, with a lower net debt burden relative to earnings.
MSFT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.1x | Very low |
| Q2 2026 | 0.1x | Very low |
MSFT's net debt is less than a year of its operating earnings (EBITDA).
DSP Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 46.4 | Neutral |
| Stochastic | 55.0 | Neutral |
DSP's weekly RSI is 46 (neutral) and its Stochastic is 55 (neutral).
MSFT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 62.1 | Neutral |
| Stochastic | 68.0 | Neutral |
MSFT's weekly RSI is 62 (neutral) and its Stochastic is 68 (neutral).
DSP PE vs Technology Sector
| Metric | DSP | Sector median | Relative |
|---|---|---|---|
| PE | 40x | 28x | 43% above |
| PE % | 34 | 40 | 6 pts below |
DSP is trading at 40x earnings, a 43% premium to the Technology sector's median of 28x.
MSFT PE vs Technology Sector
| Metric | MSFT | Sector median | Relative |
|---|---|---|---|
| PE | 27x | 28x | 2% below |
| PE % | 16 | 35 | 19 pts below |
MSFT has the edge over DSP on valuation relative to its sector.
DSP Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $12.7 | 8.5% below |
| 20 week MA | $12.6 | 7.8% below |
| 50 week MA | $11.8 | 1.7% below |
| 100 week MA | $12.8 | 9.1% below |
| 200 week MA | $10.4 | 12% above |
DSP has fallen below most of its moving averages, though it's still 12% above its 200-week average.
MSFT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $524.7 | 0.3% below |
| 20 week MA | $484.8 | 7.9% above |
| 50 week MA | $446.9 | 17% above |
| 100 week MA | $453.8 | 15% above |
| 200 week MA | $411.5 | 27% above |
MSFT has the edge over DSP on trend strength, trading above more of its moving averages.
DSP Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $65.5 | $10.2 | -84% |
| 2022 | $10.2 | $3.78 | -63% |
| 2023 | $3.78 | $6.89 | +82% |
| 2024 | $6.89 | $19.2 | +179% |
| 2025 | $19.2 | $12.0 | -38% |
| 2026 YTD | $12.0 | $11.6 | -3.3% |
DSP's yearly returns have swung widely, from +179% in 2024 to −84% in 2021. It's down 3.3% so far in 2026.
MSFT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $159.0 | $222.8 | +40% |
| 2021 | $222.8 | $334.7 | +50% |
| 2022 | $334.7 | $238.7 | -29% |
| 2023 | $238.7 | $376.0 | +58% |
| 2024 | $376.0 | $430.5 | +14% |
| 2025 | $430.5 | $487.7 | +13% |
| 2026 YTD | $487.7 | $523.0 | +7.2% |
MSFT has the edge over DSP on returns for 2026, with the stronger performance.