PICS
PicS N.V.
PICS's outlook is improving, though it still trails on the overall score.
SNDK
Sandisk Corporation
SNDK has the edge over PICS overall, supported by stronger fundamentals and lower modeled downside.
PICS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Weak |
PICS's revenue, profitability and cash flow are currently healthy, but its balance sheet is weak.
SNDK Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
SNDK's revenue, profitability, cash flow and balance sheet are all currently strong.
PICS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 3.8x | $6.96 | — |
| Cheap | 5.2x | $9.53 | +37% |
| Fair | 6.1x | $11.33 | +63% |
| Expensive | 6.7x | $12.44 | +79% |
Historical ranges are pointers, not guarantees.
PICS 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.
PICS Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Strong growth | |
| -- | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for PICS, with profitability holding steady. However, they disagree widely on these estimates.
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.
PICS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $1.85 | +278% |
| Q1 2026 | $1.62 | +286% |
| Q4 2025 | $1.53 | +378% |
| Q3 2025 | $0.49 | +40% |
PICS's earnings per share have climbed steadily: $1.85 over the past year, about four times what it earned the year before, and higher year over year every quarter since late 2025.
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 PICS in the latest year-over-year earnings comparison.
PICS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $737.9M | +78% |
| Q1 2026 | $628.9M | +70% |
| Q4 2025 | $539.6M | +80% |
| Q3 2025 | $469.8M | +101% |
| Q2 2025 | $415.6M | +99% |
| Q1 2025 | $369.5M | +82% |
| Q4 2024 | $299.8M | +76% |
| Q3 2024 | $234.1M | +39% |
PICS has the edge over SNDK on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 7.1% | +2.5 points |
| Q1 2026 | 43% | +6.3 points |
| Q4 2025 | 34% | +31 points |
| Q3 2025 | 6.4% | -3 points |
| Q2 2025 | 4.6% | -4.8 points |
| Q1 2025 | 37% | +11 points |
| Q4 2024 | 3.8% | +6.9 points |
| Q3 2024 | 9.4% | -33 points |
PICS's operating margin was 7.1% last quarter, up 2.5 points from 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'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 PICS on profitability, with a higher operating margin.
PICS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $826.8M | +32% |
| Q1 2026 | -$75.9M | +$432.1M |
| Q4 2025 | -$474.3M | -$310.5M |
| Q3 2025 | $202.7M | +$218.4M |
| Q2 2025 | $625.2M | +$638.8M |
| Q1 2025 | -$507.9M | -$449M |
| Q4 2024 | -$163.8M | -267% |
| Q3 2024 | -$15.8M | -107% |
PICS's free cash flow has turned positive after two years mostly in the red: $479M over the past year.
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.
PICS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | 0% | -- |
PICS has the edge over SNDK on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
PICS hasn't bought back shares in 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 | — |
PICS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 14.4x | High |
| Q1 2026 | -2.8x | Net Cash |
| Q4 2025 | -6.4x | Net Cash |
| Q3 2025 | -5.5x | Net Cash |
| Q2 2025 | -3.6x | Net Cash |
| Q1 2025 | 26.9x | High |
| Q4 2024 | -2.0x | Net Cash |
| Q3 2024 | -2.6x | Net Cash |
PICS's net debt is about 14 years of its operating earnings (EBITDA), after holding more cash than debt 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 PICS on leverage, with a lower net debt burden relative to earnings.
PICS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 35.0 | Neutral |
| Stochastic | 4.3 | Oversold |
PICS's weekly RSI is 35 (neutral) and its Stochastic is 4 (oversold).
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).
PICS PE vs Technology Sector
| Metric | PICS | Sector median | Relative |
|---|---|---|---|
| PE | 3.8x | 28x | 86% below |
| PE % | 9 | 17 | 8 pts below |
PICS has the edge over SNDK on valuation relative to its sector.
SNDK PE vs Technology Sector
| Metric | SNDK | Sector median | Relative |
|---|---|---|---|
| PE | 7.5x | 28x | 73% below |
| PE % | 4 | 27 | 23 pts below |
SNDK is trading at 7.5x earnings, a 73% discount to the Technology sector's median of 28x, though its earnings don't support one.
PICS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $9.91 | 30% below |
| 20 week MA | $10.7 | 35% below |
SNDK has stronger trend alignment. PICS is above 0 of 2 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.
PICS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2026 YTD | $18.0 | $6.96 | -61% |
It's down 61% 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 PICS on returns for 2026, with the stronger performance.