HLIT
Harmonic Inc.
HLIT has lower modeled downside risk, despite its lower overall score.
SNDK
Sandisk Corporation
SNDK has the edge over HLIT overall, supported by stronger fundamentals and stronger modeled upside.
HLIT Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Under pressure | |
| Stable | |
| Strong |
HLIT's balance sheet is currently strong, and its cash flow is stable, but its revenue and profitability are under pressure.
SNDK Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
SNDK's revenue, profitability, cash flow and balance sheet are all currently strong.
HLIT PE Valuation
HLIT has no meaningful PE right now: it lost money over the past year.
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.
HLIT Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for HLIT, with profitability improving.
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.
HLIT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.82 | — |
| Q3 2026 | -$0.30 | -171% |
| Q2 2026 | -$0.41 | -169% |
| Q1 2026 | -$0.36 | -180% |
| Q4 2025 | -$0.38 | -215% |
| Q3 2025 | $0.42 | -43% |
| Q2 2025 | $0.59 | +20% |
| Q1 2025 | $0.45 | -26% |
| Q4 2024 | $0.33 | -54% |
HLIT has swung to a loss: it lost $0.30 per share over the past year, after a profit 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 HLIT in the latest year-over-year earnings comparison.
HLIT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $148.8M | +4.5% |
| Q2 2026 | $133.5M | -3.3% |
| Q1 2026 | $121.7M | -8.6% |
| Q4 2025 | $98.2M | -56% |
| Q3 2025 | $142.4M | -27% |
| Q2 2025 | $138M | -0.5% |
| Q1 2025 | $133.1M | +9.1% |
| Q4 2024 | $222.2M | +33% |
HLIT's revenue has slid since its 2024 peak: $149M last quarter, up 4.5% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 18% | +11 points |
| Q2 2026 | 18% | +15 points |
| Q1 2026 | 17% | +9.2 points |
| Q4 2025 | 3.8% | -20 points |
| Q3 2025 | 6.9% | -11 points |
| Q2 2025 | 2.8% | +14 points |
| Q1 2025 | 7.6% | +15 points |
| Q4 2024 | 24% | +18 points |
HLIT's operating margin was 18% last quarter, up 11 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 HLIT 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 HLIT on profitability, with a higher operating margin.
HLIT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $47.4M | +125% |
| Q2 2026 | -$59.6M | -$44.1M |
| Q1 2026 | $30.3M | -63% |
| Q4 2025 | $9.6M | -79% |
| Q3 2025 | $21M | +267% |
| Q2 2025 | -$15.5M | +$8.6M |
| Q1 2025 | $81.7M | +228% |
| Q4 2024 | $46.2M | +1204% |
HLIT still generates free cash flow, though less than at its 2025 peak: $28M over the past year.
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 has the edge over HLIT on cash flow, with more consistent year-over-year improvement.
HLIT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.5% | +577K shares |
| 1 year | -2.7% | -3.1M shares |
| 3 years | -1.6% | -1.8M shares |
| 5 years | +3.6% | +3.8M shares |
| Available history | +13% | +12.8M shares |
HLIT has the edge over SNDK on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $3.6M |
| Q2 2026 | $1,000 |
| Q1 2026 | $43M |
| Q4 2025 | $13.3M |
| Q3 2025 | $15.7M |
| Q2 2025 | $14M |
| Q1 2025 | $36.1M |
| Q4 2024 | — |
HLIT spent $60M buying back its own shares over the past year, down 9% from the year before.
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 | — |
HLIT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.3x | Net Cash |
| Q2 2026 | -1.8x | Net Cash |
| Q1 2026 | 0.1x | Very low |
| Q4 2025 | 0.6x | Very low |
| Q3 2025 | -0.2x | Net Cash |
| Q2 2025 | -0.1x | Net Cash |
| Q1 2025 | -0.4x | Net Cash |
| Q4 2024 | 0.1x | Very low |
HLIT has the edge over SNDK on leverage, with a lower net debt burden relative to earnings.
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 more cash than debt.
HLIT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 44.4 | Neutral |
| Stochastic | 13.5 | Oversold |
HLIT's weekly RSI is 44 (neutral) and its Stochastic is 14 (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).
HLIT PE vs Technology Sector
| Metric | HLIT | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 28x | — |
HLIT has no meaningful PE right now: it lost money over the past year.
SNDK PE vs Technology Sector
| Metric | SNDK | Sector median | Relative |
|---|---|---|---|
| PE | 7.5x | 28x | 73% below |
| PE % | 4 | 27 | 23 pts below |
SNDK is trading at 7.5x earnings, a 73% discount to the Technology sector's median of 28x, though its earnings don't support one.
HLIT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $10.5 | 0.5% below |
| 20 week MA | $11.6 | 9.8% below |
| 50 week MA | $11.3 | 7.6% below |
| 100 week MA | $10.7 | 1.9% below |
| 200 week MA | $11.8 | 11% below |
SNDK has stronger trend alignment. HLIT is above 0 of 5 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.
HLIT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $7.64 | $7.19 | -5.9% |
| 2021 | $7.19 | $11.7 | +63% |
| 2022 | $11.7 | $13.0 | +11% |
| 2023 | $13.0 | $13.0 | +0.3% |
| 2024 | $13.0 | $13.5 | +3.1% |
| 2025 | $13.5 | $9.96 | -26% |
| 2026 YTD | $9.96 | $10.5 | +5.1% |
HLIT has finished higher in four of the last six years. It's up 5.1% 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 HLIT on returns for 2026, with the stronger performance.