RDWR
Radware Ltd.
RDWR has lower modeled downside risk, despite its lower overall score.
SNDK
Sandisk Corporation
SNDK has the edge over RDWR overall, supported by stronger modeled upside and stronger fundamentals.
RDWR Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Strong | |
| Strong |
RDWR'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.
RDWR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 23x | $31.82 | — |
| Cheap | 57x | $17.64 | -45% |
| Fair | 86x | $26.73 | -16% |
| Current | 103x | $31.82 | — |
| Expensive | 142x | $43.95 | +38% |
Historical ranges are pointers, not guarantees.
RDWR's PE is in its fair range at 103x. If earnings grow as analysts expect, today's price would be 23x next year's earnings, in its cheap range.
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 RDWR in the historical PE scenario, which offers more potential upside but is not a forecast.
RDWR Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for RDWR, 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.
RDWR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.36 | +338% |
| Q3 2026 | $0.31 | -18% |
| Q2 2026 | $0.38 | +19% |
| Q1 2026 | $0.43 | +59% |
| Q4 2025 | $0.45 | +221% |
| Q3 2025 | $0.38 | +$0.44 |
| Q2 2025 | $0.32 | +$0.61 |
| Q1 2025 | $0.27 | +$0.73 |
| Q4 2024 | $0.14 | +$0.64 |
RDWR's earnings per share have fallen from their peak: $0.31 over the past year, against $0.47 in late 2019.
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 RDWR in the latest year-over-year earnings comparison.
RDWR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $84.4M | +12% |
| Q2 2026 | $82.3M | +11% |
| Q1 2026 | $79.8M | +11% |
| Q4 2025 | $80.2M | +9.9% |
| Q3 2025 | $75.3M | +8.4% |
| Q2 2025 | $74.2M | +10% |
| Q1 2025 | $72.1M | +11% |
| Q4 2024 | $73M | +12% |
RDWR's revenue has grown year over year for 10 quarters in a row: $84M last quarter, up 12% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 2.6% | -1.7 points |
| Q2 2026 | 3% | -0.8 points |
| Q1 2026 | 6% | +3.8 points |
| Q4 2025 | 4.9% | +3.5 points |
| Q3 2025 | 4.3% | +4.3 points |
| Q2 2025 | 3.8% | +5.6 points |
| Q1 2025 | 2.2% | +7.8 points |
| Q4 2024 | 1.4% | +13 points |
RDWR's operating margin was 2.6% last quarter, down 1.7 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 RDWR on profitability, with a higher operating margin.
RDWR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $10.1M | +$15M |
| Q2 2026 | $9.1M | -24% |
| Q1 2026 | $15M | -30% |
| Q4 2025 | $14.5M | +24% |
| Q3 2025 | -$5M | -137% |
| Q2 2025 | $12M | -45% |
| Q1 2025 | $21.3M | +10% |
| Q4 2024 | $11.7M | +581% |
RDWR generated $49M in free cash flow over the past year, up 21% 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 RDWR on cash flow, with more consistent year-over-year improvement.
RDWR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.3% | -141K shares |
| 1 year | -3.1% | -1.4M shares |
| 3 years | +3% | +1.3M shares |
| 5 years | -8.6% | -4.1M shares |
| Available history | -9.8% | -4.8M shares |
RDWR has the edge over SNDK on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $12.7M |
| Q2 2026 | $18.8M |
| Q1 2026 | $29.4M |
| Q4 2025 | $10.5M |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | $3,169 |
RDWR spent $71M buying back its own shares over the past year, more than ten times what it spent 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 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 | — |
RDWR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -2.7x | Net Cash |
| Q2 2026 | -1.8x | Net Cash |
| Q1 2026 | -2.2x | Net Cash |
| Q4 2025 | -2.2x | Net Cash |
| Q3 2025 | -1.5x | Net Cash |
| Q2 2025 | -2.5x | Net Cash |
| Q1 2025 | -3.1x | Net Cash |
| Q4 2024 | -3.3x | Net Cash |
RDWR 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.
RDWR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 55.5 | Neutral |
| Stochastic | 49.6 | Neutral |
RDWR's weekly RSI is 55 (neutral) and its Stochastic is 50 (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).
RDWR PE vs Technology Sector
| Metric | RDWR | Sector median | Relative |
|---|---|---|---|
| PE | 103x | 28x | 268% above |
| PE % | 61 | 35 | 26 pts above |
RDWR is trading at 103x earnings, a 268% 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 RDWR on valuation relative to its sector.
RDWR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $30.7 | 3.6% above |
| 20 week MA | $29.6 | 7.5% above |
| 50 week MA | $27.3 | 16% above |
| 100 week MA | $25.8 | 23% above |
| 200 week MA | $22.5 | 41% above |
RDWR has stronger trend alignment. RDWR 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.
RDWR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $25.8 | $27.2 | +5.4% |
| 2021 | $27.2 | $38.3 | +41% |
| 2022 | $38.3 | $19.5 | -49% |
| 2023 | $19.5 | $16.7 | -14% |
| 2024 | $16.7 | $23.2 | +39% |
| 2025 | $23.2 | $24.4 | +5% |
| 2026 YTD | $24.4 | $31.8 | +31% |
RDWR has finished higher in four of the last six years. It's up 31% 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 RDWR on returns for 2026, with the stronger performance.