NCNO
nCino, Inc.
NCNO has lower modeled downside risk, despite its lower overall score.
SNDK
Sandisk Corporation
SNDK has the edge over NCNO overall, supported by stronger fundamentals and stronger modeled upside.
NCNO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Stable |
NCNO's revenue, profitability and cash flow are currently healthy, and its balance sheet is stable.
SNDK Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
SNDK's revenue, profitability, cash flow and balance sheet are all currently strong.
NCNO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 15x | $22.36 | — |
| Cheap | 72x | $21.56 | -3.6% |
| Current | 75x | $22.36 | — |
| Fair | 133x | $40.02 | +79% |
| Expensive | 333x | $99.88 | +347% |
Historical ranges are pointers, not guarantees.
NCNO's PE is 75x, but its earnings don't support one, so it isn't a reliable read right now.
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 has the edge over NCNO in the historical PE scenario, which offers more potential upside but is not a forecast.
NCNO Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for NCNO, 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.
NCNO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.51 | +405% |
| Q3 2026 | $0.30 | +$0.58 |
| Q2 2026 | $0.12 | +$0.37 |
| Q1 2026 | $0.05 | +$0.38 |
| Q4 2025 | -$0.17 | $0.00 |
| Q3 2025 | -$0.28 | -$0.01 |
| Q2 2025 | -$0.25 | +$0.06 |
| Q1 2025 | -$0.33 | +$0.05 |
| Q4 2024 | -$0.17 | +$0.41 |
NCNO has returned to profit: it earned $0.30 per share over the past year, after losing money 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 NCNO in the latest year-over-year earnings comparison.
NCNO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $161M | +8.2% |
| Q2 2026 | $159.4M | +11% |
| Q1 2026 | $149.7M | +5.9% |
| Q4 2025 | $152.2M | +9.6% |
| Q3 2025 | $148.8M | +12% |
| Q2 2025 | $144.1M | +13% |
| Q1 2025 | $141.4M | +14% |
| Q4 2024 | $138.8M | +14% |
NCNO's revenue has grown year over year every quarter since late 2020: $161M last quarter, up 8.2% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 8.5% | +15 points |
| Q2 2026 | 13% | +14 points |
| Q1 2026 | 1.9% | +5.9 points |
| Q4 2025 | 7.7% | +8.3 points |
| Q3 2025 | -6.3% | -0.3 points |
| Q2 2025 | -1.1% | +1.8 points |
| Q1 2025 | -4.1% | -1.5 points |
| Q4 2024 | -0.6% | +10 points |
NCNO's operating margin was 8.5% last quarter, up 15 points from the same quarter a year ago, near the top of its range since 2019.
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's revenue has grown year over year for six quarters in a row: $11B last quarter, up 378% from the same quarter a year ago.
| 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 NCNO on profitability, with a higher operating margin.
NCNO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $34M | +170% |
| Q2 2026 | $80.8M | +54% |
| Q1 2026 | $12.5M | +$22.8M |
| Q4 2025 | $4.9M | -3.9% |
| Q3 2025 | $12.6M | +176% |
| Q2 2025 | $52.6M | -2.8% |
| Q1 2025 | -$10.4M | -234% |
| Q4 2024 | $5.1M | -2.9% |
NCNO generated $132M in free cash flow over the past year, up 121% from the year before.
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.
NCNO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -3.7% | -4.1M shares |
| 1 year | -8.6% | -9.9M shares |
| 3 years | -6.3% | -7M shares |
| 5 years | +10% | +9.7M shares |
| Available history | +18% | +15.7M shares |
NCNO has the edge over SNDK on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $65.6M |
| Q2 2026 | $110.1M |
| Q1 2026 | $25M |
| Q4 2025 | $39.5M |
| Q3 2025 | $20M |
| Q2 2025 | $40.6M |
| Q1 2022 | — |
| Q4 2021 | — |
NCNO spent $240M buying back its own shares over the past year.
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 | — |
NCNO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.1x | Moderate |
| Q2 2026 | 2.4x | Moderate |
| Q1 2026 | 2.7x | Moderate |
| Q4 2025 | 3.1x | Elevated |
| Q3 2025 | 3.5x | Elevated |
| Q2 2025 | 3.3x | Elevated |
| Q1 2025 | 2.5x | Moderate |
| Q4 2024 | -5.0x | Net Cash |
NCNO's net debt is about 2.1 years of its operating earnings (EBITDA), down from 3.5 years 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 NCNO on leverage, with a lower net debt burden relative to earnings.
NCNO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 58.1 | Neutral |
| Stochastic | 77.0 | Neutral |
NCNO's weekly RSI is 58 (neutral) and its Stochastic is 77 (neutral).
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).
NCNO PE vs Technology Sector
| Metric | NCNO | Sector median | Relative |
|---|---|---|---|
| PE | 75x | 28x | 168% above |
| PE % | 19 | 37 | 18 pts below |
NCNO is trading at 75x earnings, a 168% premium to the Technology sector's median of 28x, though its earnings don't support one.
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 NCNO on valuation relative to its sector.
NCNO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $21.2 | 5.7% above |
| 20 week MA | $20.3 | 10% above |
| 50 week MA | $19.4 | 15% above |
| 100 week MA | $23.8 | 6.2% below |
| 200 week MA | $27.2 | 18% below |
NCNO has stronger trend alignment. NCNO is above 3 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.
NCNO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $74.0 | $78.7 | +6.3% |
| 2021 | $78.7 | $57.0 | -28% |
| 2022 | $57.0 | $25.9 | -55% |
| 2023 | $25.9 | $33.6 | +30% |
| 2024 | $33.6 | $34.4 | +2.4% |
| 2025 | $34.4 | $26.3 | -24% |
| 2026 YTD | $26.3 | $22.4 | -15% |
NCNO has finished lower in three of the last six years. It's down 15% 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 NCNO on returns for 2026, with the stronger performance.