INDI
indie Semiconductor, Inc.
INDI's outlook is improving, though it still trails on the overall score.
NVDA
NVIDIA Corporation
NVDA has the edge over INDI overall, supported by stronger valuation and lower modeled downside.
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.
NVDA Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
NVDA's revenue, profitability, cash flow and balance sheet are all currently strong.
INDI PE Valuation
INDI has no meaningful PE right now: it lost money over the past year.
NVDA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 12x | $166 | — |
| Current | 21x | $166 | — |
| Cheap | 44x | $345 | +108% |
| Fair | 65x | $511 | +207% |
| Expensive | 93x | $734 | +342% |
Historical ranges are pointers, not guarantees.
NVDA's PE is in its cheap range at 21x. If earnings grow as analysts expect, today's price would be 12x next year's earnings.
INDI Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
INDI has the edge over NVDA on the outlook, with more favorable profitability expectations.
NVDA Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Weakening | |
| Broad | |
| Moderate |
Analysts expect strong earnings and revenue growth for NVDA, but weaker profitability.
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.
NVDA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $13.77 | +74% |
| Q3 2026 | $7.91 | +125% |
| Q2 2026 | $6.53 | +111% |
| Q1 2026 | $4.90 | +67% |
| Q4 2025 | $4.03 | +59% |
| Q3 2025 | $3.51 | +65% |
| Q2 2025 | $3.10 | +81% |
| Q1 2025 | $2.94 | +147% |
| Q4 2024 | $2.54 | +234% |
NVDA 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.
NVDA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $96.2B | +106% |
| Q2 2026 | $81.6B | +85% |
| Q1 2026 | $68.1B | +73% |
| Q4 2025 | $57B | +62% |
| Q3 2025 | $46.7B | +56% |
| Q2 2025 | $44.1B | +69% |
| Q1 2025 | $39.3B | +78% |
| Q4 2024 | $35.1B | +94% |
NVDA has the edge over INDI on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 66% | +5.4 points |
| Q2 2026 | 66% | +17 points |
| Q1 2026 | 65% | +3.9 points |
| Q4 2025 | 63% | +0.8 points |
| Q3 2025 | 61% | -1.2 points |
| Q2 2025 | 49% | -16 points |
| Q1 2025 | 61% | -0.5 points |
| Q4 2024 | 62% | +4.9 points |
NVDA 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.
NVDA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $21.4B | +59% |
| Q2 2026 | $48.6B | +86% |
| Q1 2026 | $34.9B | +124% |
| Q4 2025 | $22.1B | +32% |
| Q3 2025 | $13.5B | -0.3% |
| Q2 2025 | $26.2B | +75% |
| Q1 2025 | $15.6B | +38% |
| Q3 2024 | $13.5B | +113% |
NVDA 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 | — |
NVDA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -106M shares |
| 1 year | -1% | -247M shares |
| 3 years | -2.8% | -705M shares |
| 5 years | -4.1% | -1B shares |
| Available history | -1.8% | -435M shares |
NVDA has the edge over INDI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $19.7B |
| Q2 2026 | $19.3B |
| Q1 2026 | $3.8B |
| Q4 2025 | $12.5B |
| Q3 2025 | $9.7B |
| Q2 2025 | $14.1B |
| Q1 2025 | $7.8B |
| Q4 2024 | $11B |
NVDA spent $55.3B buying back its own shares over the past year, up 30% 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.
NVDA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.1x | Very low |
| Q2 2026 | -0.0x | Net Cash |
| Q1 2026 | -0.0x | Net Cash |
| Q4 2025 | -0.0x | Net Cash |
| Q3 2025 | -0.0x | Net Cash |
| Q2 2025 | -0.1x | Net Cash |
| Q1 2025 | -0.0x | Very low |
| Q4 2024 | -0.0x | Net Cash |
NVDA's net debt is less than a year of its operating earnings (EBITDA), after holding more cash than debt a year ago.
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).
NVDA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 33.4 | Neutral |
| Stochastic | 18.1 | Oversold |
NVDA's weekly RSI is 33 (neutral) and its Stochastic is 18 (oversold).
INDI PE vs Technology Sector
INDI has no meaningful PE right now: it lost money over the past year.
NVDA PE vs Technology Sector
| Metric | NVDA | Sector median | Relative |
|---|---|---|---|
| PE | 21x | 28x | 25% below |
| PE % | 0 | 35 | 35 pts below |
NVDA is trading at 21x earnings, a 25% discount to 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.
NVDA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $208.9 | 20% below |
| 20 week MA | $212.0 | 22% below |
| 50 week MA | $199.9 | 17% below |
| 100 week MA | $175.1 | 5.1% below |
| 200 week MA | $123.6 | 34% above |
NVDA 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.
NVDA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $5.92 | $13.0 | +119% |
| 2021 | $13.0 | $29.6 | +128% |
| 2022 | $29.6 | $15.2 | -49% |
| 2023 | $15.2 | $49.5 | +226% |
| 2024 | $49.5 | $137.0 | +177% |
| 2025 | $137.0 | $190.5 | +39% |
| 2026 YTD | $190.5 | $166.2 | -13% |
NVDA has the edge over INDI on returns for 2026, with the stronger performance.