SNDK
Sandisk Corporation
SNDK has the edge over UPLD overall, supported by stronger fundamentals and stronger modeled upside.
UPLD
Upland Software, Inc.
UPLD trails on the overall score without a compensating advantage in the available component scores.
SNDK Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
SNDK's revenue, profitability, cash flow and balance sheet are all currently strong.
UPLD Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Under pressure | |
| Stable | |
| Weak |
UPLD's revenue and cash flow are currently stable, but its profitability and balance sheet 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.
UPLD PE Valuation
UPLD 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 UPLD on the outlook, with more favorable earnings and revenue expectations.
UPLD Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Decline | |
| Decline | |
| Stable | |
| Limited | |
| High |
Analysts expect UPLD's earnings and revenue to decline, though with profitability holding steady.
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 UPLD in the latest year-over-year earnings comparison.
UPLD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.72 | — |
| Q3 2026 | -$14.00 | +$4.70 |
| Q2 2026 | -$14.23 | +$4.77 |
| Q1 2026 | -$6.80 | +$11.80 |
| Q4 2025 | -$15.60 | +$27.00 |
| Q3 2025 | -$18.70 | +$26.60 |
| Q2 2025 | -$19.00 | +$28.20 |
| Q1 2025 | -$18.60 | +$29.00 |
| Q4 2024 | -$42.60 | +$15.10 |
UPLD is still losing money, but far less than before: $14.00 per share over the past year, against $59.60 at its worst in late 2023.
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 UPLD 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 UPLD on profitability, with a higher operating margin.
UPLD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $47.5M | -5.9% |
| Q2 2026 | $49.1M | -7.9% |
| Q1 2026 | $48.7M | -24% |
| Q4 2025 | $49.3M | -28% |
| Q3 2025 | $50.5M | -24% |
| Q2 2025 | $53.4M | -23% |
| Q1 2025 | $63.7M | -10% |
| Q4 2024 | $68M | -5.8% |
UPLD's revenue has slid since its 2022 peak: $48M last quarter, down 5.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 11% | +0.6 points |
| Q2 2026 | -60% | -47 points |
| Q1 2026 | 10% | +12 points |
| Q4 2025 | 15% | +17 points |
| Q3 2025 | 11% | +16 points |
| Q2 2025 | -13% | -5.4 points |
| Q1 2025 | -1.6% | +128 points |
| Q4 2024 | -2.9% | +10 points |
UPLD's operating margin was 11% last quarter, up 0.6 points from the same quarter a year ago, near the top of its range since 2019.
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 UPLD on cash flow, with more consistent year-over-year improvement.
UPLD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $2.7M | -60% |
| Q2 2026 | $5.3M | +99% |
| Q1 2026 | $5.5M | -30% |
| Q4 2025 | $7.2M | -20% |
| Q3 2025 | $6.7M | +59% |
| Q2 2025 | $2.7M | -49% |
| Q1 2025 | $7.9M | +60% |
| Q4 2024 | $9M | +4.9% |
UPLD still generates free cash flow, though less than at its 2020 peak: $21M over 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 | — |
UPLD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.5% | +14.3K shares |
| 1 year | +2.6% | +75.3K shares |
| 3 years | -9.3% | -304K shares |
| 5 years | -2.9% | -89K shares |
| Available history | +28% | +644K shares |
UPLD has the edge over SNDK on shareholder dilution, with a more favorable share count trend.
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 UPLD on leverage, with a lower net debt burden relative to earnings.
UPLD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 15.5x | High |
| Q2 2026 | 14.6x | High |
| Q1 2026 | 5.3x | High |
| Q4 2025 | 6.0x | High |
| Q3 2025 | 6.7x | High |
| Q2 2025 | 7.6x | High |
| Q1 2025 | 6.5x | High |
| Q4 2022 | 27.3x | High |
UPLD's net debt is about 15 years of its operating earnings (EBITDA), up from 6.7 years 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).
UPLD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 36.2 | Neutral |
| Stochastic | 24.9 | Neutral |
UPLD's weekly RSI is 36 (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.
UPLD PE vs Technology Sector
UPLD 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 |
UPLD has stronger trend alignment. SNDK is above 0 of 3 weekly averages versus UPLD above 0 of 5.
UPLD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.62 | 16% below |
| 20 week MA | $4.17 | 27% below |
| 50 week MA | $7.45 | 59% below |
| 100 week MA | $17.2 | 82% below |
| 200 week MA | $26.8 | 89% below |
UPLD is in a downtrend: it's below all five of its weekly moving averages, and 89% 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 UPLD on returns for 2026, with the stronger performance.
UPLD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $362.7 | $466.3 | +29% |
| 2021 | $466.3 | $187.6 | -60% |
| 2022 | $187.6 | $69.8 | -63% |
| 2023 | $69.8 | $42.3 | -39% |
| 2024 | $42.3 | $45.6 | +7.8% |
| 2025 | $45.6 | $15.3 | -66% |
| 2026 YTD | $15.3 | $3.03 | -80% |
UPLD has finished lower in four of the last six years. It's down 80% so far in 2026.