RCAT
Red Cat Holdings, Inc.
RCAT has slightly lower modeled downside risk, despite its lower overall score.
SNDK
Sandisk Corporation
SNDK has the edge over RCAT overall, supported by stronger fundamentals and stronger modeled upside.
RCAT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Weak | |
| Unavailable |
RCAT's revenue is currently healthy, but its profitability and cash flow are under pressure. There isn't enough data to rate its balance sheet.
SNDK Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
SNDK's revenue, profitability, cash flow and balance sheet are all currently strong.
RCAT PE Valuation
RCAT has no meaningful PE right now: it lost money over the past year.
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.
RCAT Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses steady | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect RCAT's revenue to grow and its profitability to improve, with its earnings holding steady.
SNDK Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| High |
SNDK has the edge over RCAT on the outlook, with more favorable earnings expectations.
RCAT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | -$0.79 | +$0.04 |
| Q1 2026 | -$0.68 | +$0.16 |
| Q1 2023 | -$0.38 | -$0.07 |
| Q4 2022 | -$0.33 | +$0.27 |
| Q3 2022 | -$0.26 | +$0.33 |
| Q2 2022 | -$0.24 | +$0.32 |
RCAT lost $0.79 per share over the past year, about the same as its loss 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 RCAT in the latest year-over-year earnings comparison.
RCAT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $20.2M | +527% |
| Q1 2026 | $15.5M | +849% |
| Q4 2025 | $26.2M | +1866% |
| Q3 2025 | $9.6M | +529% |
| Q2 2025 | $3.2M | +16% |
| Q1 2025 | $1.6M | -74% |
| Q4 2024 | $1.3M | -77% |
| Q4 2024 | $1.5M | -61% |
RCAT's revenue has grown year over year for five quarters in a row: $20M last quarter, up 527% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -191% | +202 points |
| Q1 2026 | -176% | +589 points |
| Q4 2025 | -91% | +616 points |
| Q3 2025 | -182% | +687 points |
| Q2 2025 | -393% | +54 points |
| Q1 2025 | -766% | -647 points |
| Q4 2024 | -707% | -631 points |
| Q4 2024 | -869% | -753 points |
RCAT's operating margin was −191% last quarter, up 202 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 RCAT on profitability, with a higher operating margin.
RCAT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$52.6M | -$39.4M |
| Q1 2026 | -$38.7M | -$22.5M |
| Q4 2025 | -$41.9M | -$25.7M |
| Q3 2025 | -$24.5M | -$14.4M |
| Q2 2025 | -$13.2M | -$10.8M |
| Q1 2025 | -$16.2M | -$13.8M |
| Q4 2024 | -$16.1M | -$12M |
| Q4 2024 | -$10.2M | -$5.7M |
RCAT has burned cash in almost every quarter: −$158M over the past year, against −$56M 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 RCAT on cash generation, producing positive trailing cash flow while its opponent burns cash.
RCAT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +13% | +16M shares |
| 1 year | +50% | +45.6M shares |
| 3 years | +146% | +81.2M shares |
| 5 years | +302% | +103M shares |
| Available history | +709% | +120M shares |
RCAT has 137M diluted shares, up 50% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2024 | — |
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 RCAT 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 | — |
RCAT Net Leverage
RCAT's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
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.
RCAT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 32.5 | Neutral |
| Stochastic | 7.9 | Oversold |
RCAT's weekly RSI is 32 (neutral) and its Stochastic is 8 (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).
RCAT PE vs Technology Sector
RCAT 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.
RCAT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $5.07 | 22% below |
| 20 week MA | $7.21 | 45% below |
| 50 week MA | $9.91 | 60% below |
| 100 week MA | $9.20 | 57% below |
| 200 week MA | $5.43 | 27% below |
SNDK has stronger trend alignment. RCAT is above 0 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.
RCAT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $1.28 | $1.75 | +37% |
| 2021 | $1.75 | $2.18 | +25% |
| 2022 | $2.18 | $0.77 | -65% |
| 2023 | $0.77 | $0.88 | +14% |
| 2024 | $0.88 | $12.3 | +1293% |
| 2025 | $12.3 | $8.30 | -32% |
| 2026 YTD | $8.30 | $3.94 | -53% |
RCAT's yearly returns have swung widely, from +1293% in 2024 to −65% in 2022. It's down 53% 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 RCAT on returns for 2026, with the stronger performance.