PDFS
PDF Solutions, Inc.
PDFS has a slight edge over SNDK overall, supported by stronger valuation and lower modeled downside.
SNDK
Sandisk Corporation
SNDK offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
PDFS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Under pressure | |
| Strong |
PDFS's revenue, profitability and balance sheet are currently healthy, but its cash flow is under pressure.
SNDK Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
SNDK's revenue, profitability, cash flow and balance sheet are all currently strong.
PDFS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 26x | $40.64 | — |
| Current | 107x | $40.64 | — |
| Cheap | 184x | $69.88 | +72% |
| Fair | 405x | $154 | +279% |
| Expensive | 968x | $368 | +805% |
Historical ranges are pointers, not guarantees.
PDFS has the edge over SNDK in the historical PE scenario, which offers more potential upside but is not a forecast.
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.
PDFS Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect strong earnings and revenue growth for PDFS, 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.
PDFS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.55 | +308% |
| Q3 2026 | $0.38 | +$0.39 |
| Q2 2026 | $0.25 | +1150% |
| Q1 2026 | $0.18 | +500% |
| Q4 2025 | -$0.02 | -120% |
| Q3 2025 | -$0.01 | -108% |
| Q2 2025 | $0.02 | +$0.09 |
| Q1 2025 | $0.03 | -50% |
| Q4 2024 | $0.10 | +25% |
PDFS has the edge over SNDK in the latest year-over-year earnings comparison.
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 returned to profit: it earned $125.61 per share over the past year, after losing money the year before.
PDFS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $68.3M | +20% |
| Q2 2026 | $61.5M | +19% |
| Q1 2026 | $60.1M | +26% |
| Q4 2025 | $62.4M | +25% |
| Q3 2025 | $57.1M | +23% |
| Q2 2025 | $51.7M | +24% |
| Q1 2025 | $47.8M | +16% |
| Q4 2024 | $50.1M | +22% |
PDFS's revenue has grown year over year for 23 quarters in a row: $68M last quarter, up 20% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 12% | +3.7 points |
| Q2 2026 | 8.2% | +6.1 points |
| Q1 2026 | 11% | +18 points |
| Q4 2025 | 5.5% | +2.6 points |
| Q3 2025 | 8.4% | +0.6 points |
| Q2 2025 | 2.2% | -2 points |
| Q1 2025 | -7.4% | -6.8 points |
| Q4 2024 | 2.9% | +2.6 points |
PDFS's operating margin was 12% last quarter, up 3.7 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 PDFS on profitability, with a higher operating margin.
PDFS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.1M | +$1.8M |
| Q2 2026 | $2.3M | +$16.1M |
| Q1 2026 | -$8.8M | -1745% |
| Q4 2025 | $7.6M | +$11.5M |
| Q3 2025 | -$2.9M | -158% |
| Q2 2025 | -$13.8M | -$9.1M |
| Q1 2025 | $535K | +$4.4M |
| Q4 2024 | -$4M | -$3.3M |
PDFS's free cash flow was −$23,000 over the past year, against −$20M 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 PDFS on cash generation, producing positive trailing cash flow while its opponent burns cash.
PDFS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +2.9% | +1.2M shares |
| 1 year | +8.5% | +3.4M shares |
| 3 years | +13% | +4.8M shares |
| 5 years | +15% | +5.8M shares |
| Available history | +33% | +10.6M shares |
PDFS has 43M diluted shares, up 8.5% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | — |
| Q3 2025 | $244,000 |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | $6.9M |
| Q4 2023 | — |
| Q4 2022 | — |
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 the edge over PDFS on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $5B |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
PDFS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.4x | Net Cash |
| Q2 2026 | -1.9x | Net Cash |
| Q1 2026 | 1.7x | Healthy |
| Q4 2025 | 2.5x | Moderate |
| Q3 2025 | 4.4x | High |
| Q2 2025 | 5.4x | High |
| Q1 2025 | 3.8x | Elevated |
| Q4 2024 | -8.9x | Net Cash |
PDFS 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.
PDFS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.0 | Neutral |
| Stochastic | 22.2 | Neutral |
PDFS's weekly RSI is 45 (neutral) and its Stochastic is 22 (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).
PDFS PE vs Technology Sector
| Metric | PDFS | Sector median | Relative |
|---|---|---|---|
| PE | 107x | 28x | 284% above |
| PE % | 1 | 35 | 34 pts below |
PDFS is trading at 107x earnings, a 284% premium 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 PDFS on valuation relative to its sector.
PDFS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $44.7 | 9% below |
| 20 week MA | $47.4 | 14% below |
| 50 week MA | $42.6 | 4.6% below |
| 100 week MA | $32.7 | 24% above |
| 200 week MA | $33.6 | 21% above |
PDFS has stronger trend alignment. PDFS is above 2 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.
PDFS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $16.5 | $22.0 | +34% |
| 2021 | $22.0 | $31.3 | +42% |
| 2022 | $31.3 | $28.6 | -8.9% |
| 2023 | $28.6 | $32.1 | +13% |
| 2024 | $32.1 | $27.9 | -13% |
| 2025 | $27.9 | $29.3 | +5.1% |
| 2026 YTD | $29.3 | $40.6 | +39% |
PDFS has finished higher in four of the last six years. It's up 39% 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 PDFS on returns for 2026, with the stronger performance.