SNDK
Sandisk Corporation
SNDK has the edge over USIO overall, supported by stronger fundamentals and stronger modeled upside.
USIO
Usio, Inc.
USIO 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.
USIO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Under pressure | |
| Healthy |
USIO's revenue and balance sheet are currently healthy, but its 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.
USIO PE Valuation
USIO 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 34x next year's earnings.
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.
USIO Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect USIO to return to profit, 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 USIO in the latest year-over-year earnings comparison.
USIO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.06 | — |
| Q3 2026 | -$0.03 | -$0.02 |
| Q2 2026 | -$0.06 | -155% |
| Q1 2026 | -$0.08 | -167% |
| Q4 2025 | -$0.09 | -175% |
| Q3 2025 | -$0.01 | -110% |
| Q2 2025 | $0.11 | +$0.15 |
| Q1 2025 | $0.12 | +$0.15 |
| Q4 2024 | $0.12 | +$0.14 |
USIO is still losing money, but far less than before: $0.03 per share over the past year, against $0.39 at its worst in late 2019.
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 USIO 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 USIO on profitability, with a higher operating margin.
USIO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $23.8M | +12% |
| Q2 2026 | $23.7M | +19% |
| Q1 2026 | $25.5M | +16% |
| Q4 2025 | $22.2M | +8.2% |
| Q3 2025 | $21.2M | -0.7% |
| Q2 2025 | $20M | -0.6% |
| Q1 2025 | $22M | +8.3% |
| Q4 2024 | $20.6M | +6.2% |
USIO's revenue has grown year over year for four quarters in a row: $24M last quarter, up 12% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 1.2% | +3.4 points |
| Q2 2026 | 1.6% | +3.6 points |
| Q1 2026 | 0.9% | +2 points |
| Q4 2025 | -5.7% | -2.7 points |
| Q3 2025 | -2.2% | -0.4 points |
| Q2 2025 | -2% | -0.9 points |
| Q1 2025 | -1.1% | +3.5 points |
| Q4 2024 | -2.9% | +1.1 points |
USIO's operating margin was 1.2% last quarter, up 3.4 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 USIO on cash flow, with more consistent year-over-year improvement.
USIO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.6M | +1740% |
| Q2 2026 | -$828.2K | -$803.6K |
| Q1 2026 | $548.7K | -48% |
| Q4 2025 | -$42.8K | -100% |
| Q3 2025 | $85.2K | +$4.9M |
| Q2 2025 | -$24.6K | +$526.6K |
| Q1 2025 | $1.1M | +$4M |
| Q4 2024 | $10.2M | +$37.1M |
USIO still generates free cash flow, though less than at its 2023 peak: $1M 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 the edge over USIO 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 | — |
USIO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +2.4% | +654K shares |
| 1 year | +5.9% | +1.6M shares |
| 3 years | +7.8% | +2.1M shares |
| 5 years | +84% | +13M shares |
USIO has 28M diluted shares, up 5.9% from a year ago, despite $799,464 in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $127,830 |
| Q2 2026 | $137,473 |
| Q1 2026 | $233,459 |
| Q4 2025 | $300,702 |
| Q3 2025 | $57,589 |
| Q2 2025 | $356,658 |
| Q1 2025 | $351,640 |
| Q4 2024 | $1M |
USIO spent $799,464 buying back its own shares over the past year, down 55% from 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.
USIO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -5.7x | Net Cash |
| Q2 2026 | -13.6x | Net Cash |
| Q3 2025 | -28.2x | Net Cash |
| Q2 2025 | -14.2x | Net Cash |
| Q1 2025 | -10.6x | Net Cash |
| Q4 2024 | -50.9x | Net Cash |
| Q4 2023 | -39.8x | Net Cash |
| Q3 2023 | -8.3x | Net Cash |
USIO has the edge over SNDK on leverage, with a lower net debt burden relative to earnings.
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).
USIO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 44.5 | Neutral |
| Stochastic | 49.3 | Neutral |
USIO's weekly RSI is 44 (neutral) and its Stochastic is 49 (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.
USIO PE vs Technology Sector
| Metric | USIO | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 28x | — |
USIO 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 |
USIO has stronger trend alignment. SNDK is above 0 of 3 weekly averages versus USIO above 3 of 5.
USIO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $2.74 | 25% below |
| 20 week MA | $2.56 | 20% below |
| 50 week MA | $1.86 | 10% above |
| 100 week MA | $1.72 | 19% above |
| 200 week MA | $1.70 | 21% above |
USIO has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 21% above 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 USIO on returns for 2026, with the stronger performance.
USIO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $1.74 | $2.90 | +67% |
| 2021 | $2.90 | $5.08 | +75% |
| 2022 | $5.08 | $1.55 | -69% |
| 2023 | $1.55 | $1.72 | +11% |
| 2024 | $1.72 | $1.45 | -16% |
| 2025 | $1.45 | $1.33 | -8.3% |
| 2026 YTD | $1.33 | $2.05 | +54% |
USIO is up 54% so far in 2026, after finishing lower in three of the previous six years.