INDI
indie Semiconductor, Inc.
INDI's outlook is improving, though it still trails on the overall score.
MSFT
Microsoft Corporation
MSFT has the edge over INDI overall, supported by lower modeled downside and stronger valuation.
INDI Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Weak | |
| Unavailable |
INDI's revenue is currently healthy, but its profitability and cash flow are under pressure. There isn't enough data to rate its balance sheet.
MSFT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Healthy | |
| Strong |
MSFT's revenue, profitability, cash flow and balance sheet are all currently healthy.
INDI PE Valuation
INDI has no meaningful PE right now: it lost money over the past year.
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's PE is in its cheap range at 27x. If earnings grow as analysts expect, today's price would be 25x next year's earnings.
INDI Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
INDI has the edge over MSFT on the outlook, with more favorable profitability expectations.
MSFT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Strong growth | |
| Stable | |
| Moderate | |
| High |
Analysts expect strong earnings and revenue growth for MSFT, with profitability holding steady.
INDI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.72 | +$0.03 |
| Q2 2026 | -$0.73 | +$0.11 |
| Q1 2026 | -$0.76 | -$0.01 |
| Q4 2025 | -$0.73 | +$0.03 |
| Q3 2025 | -$0.75 | -$0.12 |
| Q2 2025 | -$0.84 | -$0.37 |
| Q1 2025 | -$0.75 | -$0.30 |
| Q4 2024 | -$0.76 | +$0.05 |
INDI is still losing money, but less than at its worst: $0.72 per share over the past year, against $1.29 at its worst in late 2021.
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 has the edge over INDI on earnings quality, reporting a profit while its opponent remains loss making.
INDI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $70.2M | +31% |
| Q2 2026 | $64M | +24% |
| Q1 2026 | $55.5M | +2.6% |
| Q4 2025 | $58M | 0% |
| Q3 2025 | $53.7M | -0.5% |
| Q2 2025 | $51.6M | -1.4% |
| Q1 2025 | $54.1M | +3.3% |
| Q4 2024 | $58M | -17% |
INDI's revenue is growing: $70M last quarter, up 31% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -56% | +16 points |
| Q2 2026 | -55% | +29 points |
| Q1 2026 | -70% | +1.9 points |
| Q4 2025 | -59% | -0.1 points |
| Q3 2025 | -71% | +21 points |
| Q2 2025 | -83% | -13 points |
| Q1 2025 | -72% | +23 points |
| Q4 2024 | -58% | -28 points |
INDI's operating margin was −56% last quarter, up 16 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 has the edge over INDI on sales, with more consistent year-over-year improvement.
| 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 INDI on profitability, with a higher operating margin.
INDI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$23.1M | -$12.8M |
| Q2 2026 | -$32M | -$18.4M |
| Q1 2026 | -$25.3M | +$6M |
| Q4 2025 | -$16.1M | -$7.5M |
| Q3 2025 | -$10.3M | +$19M |
| Q2 2025 | -$13.6M | +$9.8M |
| Q1 2025 | -$31.4M | -$19.7M |
| Q4 2024 | -$8.6M | +$12M |
INDI has burned cash in almost every quarter: −$97M over the past year, against −$64M the year before.
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 has the edge over INDI on cash generation, producing positive trailing cash flow while its opponent burns cash.
INDI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +3.4% | +7.3M shares |
| 1 year | +10% | +20M shares |
| 3 years | +54% | +77.3M shares |
| 5 years | +116% | +118M shares |
| Available history | +98% | +108M shares |
INDI has 219M diluted shares, up 10% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2022 | $7.4M |
| Q3 2022 | — |
| Q4 2021 | — |
| Q3 2021 | — |
| Q1 2021 | — |
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
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 INDI 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.
INDI Net Leverage
INDI's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
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).
INDI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 39.6 | Neutral |
| Stochastic | 12.5 | Oversold |
INDI's weekly RSI is 40 (neutral) and its Stochastic is 13 (oversold).
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).
INDI PE vs Technology Sector
INDI has no meaningful PE right now: it lost money over the past year.
MSFT PE vs Technology Sector
| Metric | MSFT | Sector median | Relative |
|---|---|---|---|
| PE | 27x | 28x | 2% below |
| PE % | 16 | 35 | 19 pts below |
MSFT is trading at 27x earnings, in line with the Technology sector's median of 28x.
INDI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $2.21 | 1.4% below |
| 20 week MA | $3.18 | 31% below |
| 50 week MA | $3.56 | 39% below |
| 100 week MA | $3.59 | 39% below |
| 200 week MA | $5.22 | 58% below |
INDI is in a downtrend: it's below all five of its weekly moving averages, and 58% below 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 INDI on trend strength, trading above more of its moving averages.
INDI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $9.88 | $12.9 | +30% |
| 2021 | $12.9 | $11.6 | -9.7% |
| 2022 | $11.6 | $6.21 | -46% |
| 2023 | $6.21 | $8.11 | +31% |
| 2024 | $8.11 | $4.34 | -46% |
| 2025 | $4.34 | $3.74 | -14% |
| 2026 YTD | $3.74 | $2.18 | -42% |
INDI has finished lower in four of the last six years. It's down 42% 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 INDI on returns for 2026, with the stronger performance.