FATN
FatPipe, Inc. Common Stock
FATN offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
SNDK
Sandisk Corporation
SNDK has the edge over FATN overall, supported by stronger fundamentals.
FATN Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Unavailable | |
| Healthy |
FATN's revenue, profitability and balance sheet are currently healthy. There isn't enough data to rate its cash flow.
SNDK Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
SNDK's revenue, profitability, cash flow and balance sheet are all currently strong.
FATN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 9.7x | $4.67 | — |
| Cheap | 14x | $6.89 | +47% |
| Fair | 25x | $12.09 | +159% |
| Expensive | 45x | $21.56 | +362% |
Historical ranges are pointers, not guarantees.
FATN has the edge over SNDK in the historical PE scenario, which offers more potential upside but is not a forecast.
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's PE is 7.5x, but its earnings don't support one, so it isn't a reliable read right now.
FATN Forward outlook
There aren't enough analyst estimates for FATN to show an outlook.
SNDK Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| High |
Analysts expect strong earnings and revenue growth for SNDK, with profitability improving.
FATN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $0.48 | +700% |
| Q2 2026 | $0.39 | +255% |
| Q1 2026 | $0.35 | +218% |
| Q4 2025 | $0.08 | -71% |
| Q3 2025 | $0.06 | -81% |
FATN's earnings per share have jumped to their highest in two years: $0.48 over the past year, up from $0.06 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 FATN in the latest year-over-year earnings comparison.
FATN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.8M | +22% |
| Q2 2026 | $5M | +28% |
| Q1 2026 | $13.6M | +330% |
| Q4 2025 | $4.1M | +30% |
| Q3 2025 | $4M | +5.6% |
| Q2 2025 | $3.9M | +4.9% |
| Q1 2025 | $3.1M | -41% |
| Q4 2024 | $3.1M | -21% |
FATN's revenue has grown year over year for six quarters in a row: $5M last quarter, up 22% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 17% | +18 points |
| Q2 2026 | 18% | -7.6 points |
| Q1 2026 | 16% | +10 points |
| Q4 2025 | 9.8% | +4 points |
| Q3 2025 | 0% | -23 points |
| Q2 2025 | 25% | +2.6 points |
| Q1 2025 | 5.9% | -39 points |
| Q4 2024 | 5.9% | -20 points |
FATN's operating margin was 17% last quarter, up 17 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 FATN 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 FATN on profitability, with a higher operating margin.
FATN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$679K | -$128K |
| Q4 2025 | $240.9K | +$363.6K |
| Q3 2025 | $399.8K | +696% |
| Q2 2025 | -$551.1K | -$293.6K |
| Q1 2025 | -$197K | -110% |
| Q4 2024 | -$122.7K | +$1.6M |
SNDK has the stronger cash trend. Its trailing FCF is up 762% versus its history, compared with FATN at down 1,053%.
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 generated $17.4B in free cash flow over the past year, more than ten times what it generated the year before.
FATN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +35.4K shares |
| 1 year | +1.7% | +235K shares |
FATN has the edge over SNDK on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
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 | — |
FATN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.3x | Very low |
| Q2 2026 | 0.1x | Very low |
| Q1 2026 | -0.2x | Net Cash |
| Q4 2025 | -0.7x | Net Cash |
| Q3 2025 | -0.7x | Net Cash |
| Q2 2025 | -0.3x | Net Cash |
| Q1 2025 | 1.3x | Healthy |
| Q4 2024 | 0.5x | Very low |
FATN's net debt is less than a year of its operating earnings (EBITDA), after holding more cash than debt 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 FATN on leverage, with a lower net debt burden relative to earnings.
FATN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.4 | Neutral |
| Stochastic | 18.5 | Oversold |
FATN's weekly RSI is 48 (neutral) and its Stochastic is 19 (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).
FATN PE vs Technology Sector
| Metric | FATN | Sector median | Relative |
|---|---|---|---|
| PE | 9.7x | 28x | 65% below |
| PE % | 2 | 24 | 22 pts below |
FATN is trading at 9.7x earnings, a 65% 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 FATN on valuation relative to its sector.
FATN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $5.07 | 7.9% below |
| 20 week MA | $5.47 | 15% below |
| 50 week MA | $3.98 | 17% above |
FATN has stronger trend alignment. FATN is above 1 of 3 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.
FATN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2025 | $6.36 | $2.51 | -61% |
| 2026 YTD | $2.51 | $4.67 | +86% |
FATN has finished every year since 2025 lower, and it's up 86% 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 FATN on returns for 2026, with the stronger performance.