PUBM
PubMatic, Inc.
PUBM has lower modeled downside risk, despite its lower overall score.
SNDK
Sandisk Corporation
SNDK has the edge over PUBM overall, supported by stronger fundamentals and stronger modeled upside.
PUBM Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Healthy | |
| Strong |
PUBM's revenue, cash flow and balance sheet are currently healthy, and its profitability is stable.
SNDK Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
SNDK's revenue, profitability, cash flow and balance sheet are all currently strong.
PUBM PE Valuation
PUBM has no meaningful PE right now: it lost money over the past year. If it returns to profit as analysts expect, today's price would be 99x next year's earnings.
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.
PUBM Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect PUBM to return to profit, with revenue growing.
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.
PUBM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.19 | — |
| Q3 2026 | -$0.05 | +$0.14 |
| Q2 2026 | -$0.30 | -$0.23 |
| Q1 2026 | -$0.38 | -575% |
| Q4 2025 | -$0.31 | -235% |
| Q3 2025 | -$0.19 | -246% |
| Q2 2025 | -$0.07 | -139% |
| Q1 2025 | $0.08 | +167% |
| Q4 2024 | $0.23 | +$0.26 |
PUBM lost $0.05 per share over the past year, a smaller loss than 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 PUBM in the latest year-over-year earnings comparison.
PUBM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $79.6M | +17% |
| Q2 2026 | $78.6M | +11% |
| Q1 2026 | $62.6M | -2% |
| Q4 2025 | $80M | -6.4% |
| Q3 2025 | $68M | -5.3% |
| Q2 2025 | $71.1M | +5.7% |
| Q1 2025 | $63.8M | -4.3% |
| Q4 2024 | $85.5M | +1.1% |
PUBM's revenue is growing: $80M last quarter, up 17% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 11% | +23 points |
| Q2 2026 | 0.7% | +8.4 points |
| Q1 2026 | -24% | -5.8 points |
| Q4 2025 | 11% | -6.7 points |
| Q3 2025 | -12% | -11 points |
| Q2 2025 | -7.7% | -1.8 points |
| Q1 2025 | -19% | -10 points |
| Q4 2024 | 17% | -6.8 points |
PUBM's operating margin was 11% last quarter, up 23 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 has the edge over PUBM 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 PUBM on profitability, with a higher operating margin.
PUBM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $20.9M | -25% |
| Q2 2026 | $17.3M | +27% |
| Q1 2026 | $17.3M | +22% |
| Q4 2025 | $11.3M | -18% |
| Q3 2025 | $27.7M | +274% |
| Q2 2025 | $13.6M | +21% |
| Q1 2025 | $14.2M | -40% |
| Q4 2024 | $13.7M | -42% |
PUBM generated $67M in free cash flow over the past year, down 3.6% 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 PUBM on cash flow, with more consistent year-over-year improvement.
PUBM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +9.3% | +4.3M shares |
| 1 year | +9.8% | +4.5M shares |
| 3 years | -9.9% | -5.6M shares |
| 5 years | -11% | -6.1M shares |
| Available history | +16% | +6.8M shares |
PUBM has 50M diluted shares, up 9.8% from a year ago, despite $47M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $15M |
| Q2 2026 | $22M |
| Q1 2026 | $8.5M |
| Q4 2025 | $1.2M |
| Q3 2025 | $4M |
| Q2 2025 | $38.6M |
| Q1 2025 | $5M |
| Q4 2024 | $9.9M |
PUBM spent $47M buying back its own shares over the past year, down 19% from the year before.
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 PUBM 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 | — |
PUBM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2025 | -83.6x | Net Cash |
| Q3 2025 | -13.1x | Net Cash |
| Q2 2025 | -4.7x | Net Cash |
| Q1 2025 | -4.7x | Net Cash |
| Q4 2024 | -3.5x | Net Cash |
| Q3 2024 | -2.2x | Net Cash |
| Q2 2024 | -2.0x | Net Cash |
| Q1 2024 | -2.3x | Net Cash |
PUBM has more cash than debt.
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.
PUBM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 65.8 | Neutral |
| Stochastic | 71.0 | Neutral |
PUBM's weekly RSI is 66 (neutral) and its Stochastic is 71 (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).
PUBM PE vs Technology Sector
| Metric | PUBM | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 28x | — |
PUBM has no meaningful PE right now: it lost money over the past year.
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.
PUBM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $17.8 | 7% above |
| 20 week MA | $16.3 | 17% above |
| 50 week MA | $12.0 | 59% above |
| 100 week MA | $11.4 | 66% above |
| 200 week MA | $14.1 | 35% above |
PUBM has stronger trend alignment. PUBM 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.
PUBM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $25.1 | $30.4 | +22% |
| 2021 | $30.4 | $34.8 | +14% |
| 2022 | $34.8 | $12.6 | -64% |
| 2023 | $12.6 | $16.3 | +29% |
| 2024 | $16.3 | $15.1 | -7.4% |
| 2025 | $15.1 | $8.98 | -41% |
| 2026 YTD | $8.98 | $19.0 | +112% |
PUBM is up 112% so far in 2026, after finishing lower in three 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 PUBM on returns for 2026, with the stronger performance.