SNDK
Sandisk Corporation
SNDK has the edge over SQNS overall, supported by stronger fundamentals and stronger modeled upside.
SQNS
Sequans Communications S.A.
SQNS has lower modeled downside risk, despite its lower overall score.
SNDK Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
SNDK's revenue, profitability, cash flow and balance sheet are all currently strong.
SQNS Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Weak | |
| Weak | |
| Stable |
SQNS's balance sheet is currently stable, but its revenue, profitability and cash flow are under pressure.
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.
SQNS PE Valuation
SQNS has no meaningful PE right now: it lost money over the past year.
SNDK Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| High |
SNDK has the edge over SQNS on the outlook, with more favorable profitability expectations.
SQNS Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly weakening | |
| Limited | |
| High |
Analysts expect SQNS's losses to shrink, with revenue growing.
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 SQNS in the latest year-over-year earnings comparison.
SQNS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | -$11.33 | -622% |
| Q1 2026 | -$11.04 | -540% |
| Q4 2025 | -$7.43 | -420% |
| Q3 2025 | -$1.21 | -172% |
| Q2 2025 | $2.17 | +$3.80 |
| Q1 2025 | $2.51 | +$4.52 |
| Q4 2024 | $2.32 | +$4.11 |
| Q3 2024 | $1.69 | +$3.03 |
SQNS has swung to a loss: it lost $11.33 per share over the past year, after a profit the year before.
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 SQNS 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 SQNS on profitability, with a higher operating margin.
SQNS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $7.5M | -8.4% |
| Q1 2026 | $6.1M | -25% |
| Q4 2025 | $7M | -37% |
| Q3 2025 | $4.3M | -57% |
| Q2 2025 | $8.1M | -16% |
| Q1 2025 | $8.1M | +34% |
| Q4 2024 | $11M | +131% |
| Q3 2024 | $10.1M | +29% |
SQNS's revenue has slid since its 2022 peak: $7M last quarter, down 8.4% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -127% | -20 points |
| Q1 2026 | -157% | -72 points |
| Q4 2025 | -128% | -81 points |
| Q3 2025 | -477% | -1339 points |
| Q2 2025 | -107% | -69 points |
| Q1 2025 | -85% | +57 points |
| Q4 2024 | -47% | +217 points |
| Q3 2024 | 863% | +964 points |
SQNS's operating margin was −127% last quarter, down 20 points from the same quarter a year ago.
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 SQNS on cash generation, producing positive trailing cash flow while its opponent burns cash.
SQNS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$9.8M | -$7.3M |
| Q1 2026 | -$16.1M | -$6.2M |
| Q4 2025 | -$2.2M | +$27.6M |
| Q3 2025 | -$14.9M | -$11.6M |
| Q2 2025 | -$2.4M | -131% |
| Q1 2025 | -$9.8M | +$4.1M |
| Q4 2024 | -$29.8M | -$18.2M |
| Q3 2024 | -$3.3M | +$2.6M |
SQNS has burned cash in almost every quarter: −$43M over the past year, against −$45M 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 | — |
SQNS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +7.5% | +1M shares |
| 1 year | -41% | -10.4M shares |
| 3 years | -34% | -7.9M shares |
| 5 years | +0.9% | +136K shares |
| Available history | +58% | +5.5M shares |
SQNS has the edge over SNDK on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | $936,391 |
| Q4 2025 | $9.4M |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
SQNS spent $10M buying back its own shares over the past year, after none the year before.
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.
SQNS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2025 | 1.6x | Healthy |
| Q2 2025 | -0.1x | Net Cash |
| Q1 2025 | -0.0x | Net Cash |
| Q4 2024 | 0.0x | Very low |
| Q3 2024 | -1.4x | Net Cash |
| Q3 2023 | 11.5x | High |
| Q2 2023 | 4.5x | High |
| Q1 2023 | 3.1x | Elevated |
SQNS's net debt is about 1.6 years of its operating earnings (EBITDA), after holding more cash than debt a year ago.
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).
SQNS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 38.3 | Neutral |
| Stochastic | 25.3 | Neutral |
SQNS's weekly RSI is 38 (neutral) and its Stochastic is 25 (neutral).
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.
SQNS PE vs Technology Sector
SQNS has no meaningful PE right now: it lost money over the past year.
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 |
SQNS has stronger trend alignment. SNDK is above 0 of 3 weekly averages versus SQNS above 0 of 5.
SQNS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $2.61 | 6.5% below |
| 20 week MA | $2.77 | 12% below |
| 50 week MA | $3.42 | 29% below |
| 100 week MA | $11.0 | 78% below |
| 200 week MA | $28.3 | 91% below |
SQNS is in a downtrend: it's below all five of its weekly moving averages, and 91% below its 200-week average.
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 SQNS on returns for 2026, with the stronger performance.
SQNS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $75.0 | $157.3 | +110% |
| 2021 | $157.3 | $120.0 | -24% |
| 2022 | $120.0 | $72.0 | -40% |
| 2023 | $72.0 | $70.8 | -1.7% |
| 2024 | $70.8 | $33.9 | -52% |
| 2025 | $33.9 | $4.76 | -86% |
| 2026 YTD | $4.76 | $2.44 | -49% |
SQNS has finished five years in a row lower, and it's down 49% so far in 2026.