OSPN
OneSpan Inc.
OSPN has lower modeled downside risk, despite its lower overall score.
SNDK
Sandisk Corporation
SNDK has the edge over OSPN overall, supported by stronger fundamentals and stronger modeled upside.
OSPN Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Strong |
OSPN's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
SNDK Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
SNDK's revenue, profitability, cash flow and balance sheet are all currently strong.
OSPN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 8.3x | $15.07 | -33% |
| Current | 12x | $22.43 | — |
| Forward | 17x | $22.43 | — |
| Fair | 23x | $40.90 | +82% |
| Expensive | 80x | $146 | +549% |
Historical ranges are pointers, not guarantees.
OSPN's PE is in its fair range at 12x. On analysts' estimates for next year's earnings, today's price would be 17x.
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 OSPN in the historical PE scenario, which offers more potential upside but is not a forecast.
OSPN Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for OSPN, with profitability improving.
SNDK Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| High |
SNDK has the edge over OSPN on the outlook, with more favorable valuation expectations.
OSPN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.34 | -26% |
| Q3 2026 | $1.81 | +22% |
| Q2 2026 | $1.78 | +17% |
| Q1 2026 | $1.81 | +22% |
| Q4 2025 | $1.88 | +29% |
| Q3 2025 | $1.48 | +100% |
| Q2 2025 | $1.52 | +253% |
| Q1 2025 | $1.48 | +$1.66 |
| Q4 2024 | $1.46 | +$2.20 |
OSPN's earnings per share have climbed steadily: $1.81 over the past year, up 22% from the year before, and higher year over year for 11 quarters in a row.
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 OSPN in the latest year-over-year earnings comparison.
OSPN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $63.9M | +12% |
| Q2 2026 | $60.5M | +1% |
| Q1 2026 | $65.9M | +4.1% |
| Q4 2025 | $62.9M | +2.9% |
| Q3 2025 | $57.1M | +1.4% |
| Q2 2025 | $59.8M | -1.8% |
| Q1 2025 | $63.4M | -2.3% |
| Q4 2024 | $61.2M | -2.8% |
OSPN's revenue has grown year over year for five quarters in a row: $64M last quarter, up 12% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 14% | +0.1 points |
| Q2 2026 | 14% | -3.1 points |
| Q1 2026 | 22% | -4.7 points |
| Q4 2025 | 20% | +0.6 points |
| Q3 2025 | 14% | -5.6 points |
| Q2 2025 | 18% | +5 points |
| Q1 2025 | 27% | +5.4 points |
| Q4 2024 | 19% | +16 points |
OSPN's operating margin was 14% last quarter, about level with 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 OSPN 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 OSPN on profitability, with a higher operating margin.
OSPN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $13.3M | +51% |
| Q2 2026 | -$3.3M | -175% |
| Q1 2026 | $25.1M | -9.7% |
| Q4 2025 | $9.6M | -7.9% |
| Q3 2025 | $8.8M | -27% |
| Q2 2025 | $4.4M | +16669% |
| Q1 2025 | $27.7M | +16% |
| Q4 2024 | $10.5M | +$10.8M |
OSPN generated $45M in free cash flow over the past year, down 13% 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 has the edge over OSPN on cash flow, with more consistent year-over-year improvement.
OSPN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +2.4% | +897K shares |
| 1 year | +0.7% | +271K shares |
| 3 years | -3.5% | -1.4M shares |
| 5 years | -2.5% | -989K shares |
OSPN has the edge over SNDK on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $2.9M |
| Q1 2026 | $5.4M |
| Q4 2025 | $6.8M |
| Q4 2024 | $3,000 |
| Q4 2023 | $25.6M |
| Q3 2023 | $3.5M |
| Q4 2022 | — |
OSPN spent $15M 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 | — |
OSPN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.8x | Net Cash |
| Q2 2026 | -0.7x | Net Cash |
| Q1 2026 | -0.9x | Net Cash |
| Q4 2025 | -1.2x | Net Cash |
| Q3 2025 | -1.5x | Net Cash |
| Q2 2025 | -1.6x | Net Cash |
| Q1 2025 | -1.9x | Net Cash |
| Q4 2024 | -1.6x | Net Cash |
OSPN 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.
OSPN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 66.7 | Neutral |
| Stochastic | 65.9 | Neutral |
OSPN's weekly RSI is 67 (neutral) and its Stochastic is 66 (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).
OSPN PE vs Technology Sector
| Metric | OSPN | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 28x | 56% below |
| PE % | 48 | 35 | 13 pts above |
OSPN is trading at 12x earnings, a 56% 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 OSPN on valuation relative to its sector.
OSPN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $20.2 | 11% above |
| 20 week MA | $17.7 | 27% above |
| 50 week MA | $14.3 | 57% above |
| 100 week MA | $15.1 | 49% above |
| 200 week MA | $14.2 | 58% above |
OSPN has stronger trend alignment. OSPN is above 5 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.
OSPN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $17.2 | $21.3 | +24% |
| 2021 | $21.3 | $16.9 | -21% |
| 2022 | $16.9 | $11.5 | -32% |
| 2023 | $11.5 | $10.7 | -7% |
| 2024 | $10.7 | $18.8 | +75% |
| 2025 | $18.8 | $12.9 | -31% |
| 2026 YTD | $12.9 | $22.4 | +74% |
OSPN is up 74% so far in 2026, after finishing lower in four of the previous six years.
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 OSPN on returns for 2026, with the stronger performance.