SNDK
Sandisk Corporation
SNDK has the edge over ZBRA overall, supported by stronger fundamentals.
ZBRA
Zebra Technologies Corporation
ZBRA 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.
ZBRA Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Stable |
ZBRA's revenue, profitability and cash flow are currently healthy, and its balance sheet is stable.
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 ZBRA in the historical PE scenario, which offers more potential upside but is not a forecast.
ZBRA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 15x | $318 | — |
| Cheap | 25x | $311 | -2% |
| Current | 26x | $318 | — |
| Fair | 31x | $387 | +22% |
| Expensive | 48x | $596 | +88% |
Historical ranges are pointers, not guarantees.
ZBRA's PE is in its cheap range at 26x. If earnings grow as analysts expect, today's price would be 15x 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.
ZBRA Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for ZBRA, with profitability improving.
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 ZBRA in the latest year-over-year earnings comparison.
ZBRA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $21.67 | +75% |
| Q3 2026 | $12.40 | +25% |
| Q2 2026 | $10.94 | +3.3% |
| Q1 2026 | $8.28 | -22% |
| Q4 2025 | $8.18 | -20% |
| Q3 2025 | $9.92 | +35% |
| Q2 2025 | $10.59 | +139% |
| Q1 2025 | $10.57 | +109% |
| Q4 2024 | $10.18 | +78% |
ZBRA earned $12.40 per share over the past year, up 25% from 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'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 ZBRA on profitability, with a higher operating margin.
ZBRA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.6B | +22% |
| Q2 2026 | $1.6B | +20% |
| Q1 2026 | $1.5B | +14% |
| Q4 2025 | $1.5B | +11% |
| Q3 2025 | $1.3B | +5.2% |
| Q2 2025 | $1.3B | +6.2% |
| Q1 2025 | $1.3B | +11% |
| Q4 2024 | $1.3B | +32% |
ZBRA's revenue has grown year over year for 10 quarters in a row: $1.6B last quarter, up 22% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 15% | +0.8 points |
| Q2 2026 | 21% | +6.5 points |
| Q1 2026 | 14% | -0.5 points |
| Q4 2025 | 9.4% | -7.5 points |
| Q3 2025 | 14% | -1.4 points |
| Q2 2025 | 14% | +0.4 points |
| Q1 2025 | 15% | +1.4 points |
| Q4 2024 | 17% | +9.5 points |
ZBRA's operating margin was 15% last quarter, up 0.8 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 generated $17.4B in free cash flow over the past year, more than ten times what it generated the year before.
ZBRA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $300M | +39% |
| Q2 2026 | $198M | +52% |
| Q1 2026 | $163M | +3.2% |
| Q4 2025 | $327M | +14% |
| Q3 2025 | $216M | -22% |
| Q2 2025 | $130M | -53% |
| Q1 2025 | $158M | +42% |
| Q4 2024 | $288M | +182% |
ZBRA has the edge over SNDK on cash flow, with more consistent year-over-year improvement.
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 | — |
ZBRA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.7% | -316K shares |
| 1 year | -6.6% | -3.4M shares |
| 3 years | -6.9% | -3.5M shares |
| 5 years | -11% | -6.1M shares |
| Available history | -12% | -6.8M shares |
ZBRA has the edge over SNDK on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $75M |
| Q2 2026 | $268M |
| Q1 2026 | $300M |
| Q4 2025 | $303M |
| Q3 2025 | $34M |
| Q2 2025 | $125M |
| Q1 2025 | $125M |
| Q4 2024 | $31M |
ZBRA spent $946M buying back its own shares over the past year, about three times what it spent 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 the edge over ZBRA on leverage, with a lower net debt burden relative to earnings.
ZBRA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.1x | Moderate |
| Q2 2026 | 2.4x | Moderate |
| Q1 2026 | 2.8x | Moderate |
| Q4 2025 | 2.7x | Moderate |
| Q3 2025 | 1.2x | Healthy |
| Q2 2025 | 1.4x | Healthy |
| Q1 2025 | 1.4x | Healthy |
| Q4 2024 | 1.4x | Healthy |
ZBRA's net debt is about 2.1 years of its operating earnings (EBITDA), up from 1.2 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).
ZBRA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.6 | Neutral |
| Stochastic | 38.6 | Neutral |
ZBRA's weekly RSI is 49 (neutral) and its Stochastic is 39 (neutral).
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 ZBRA on valuation relative to its sector.
ZBRA PE vs Technology Sector
| Metric | ZBRA | Sector median | Relative |
|---|---|---|---|
| PE | 26x | 28x | 8% below |
| PE % | 19 | 35 | 16 pts below |
ZBRA is trading at 26x earnings, in line with the Technology sector's median of 28x.
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 |
ZBRA has stronger trend alignment. SNDK is above 0 of 3 weekly averages versus ZBRA above 3 of 5.
ZBRA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $361.2 | 12% below |
| 20 week MA | $339.4 | 6.4% below |
| 50 week MA | $278.5 | 14% above |
| 100 week MA | $292.7 | 8.6% above |
| 200 week MA | $294.4 | 8% above |
ZBRA has slipped below its 8- and 20-week averages, though it's still 8% 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 ZBRA on returns for 2026, with the stronger performance.
ZBRA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $256.0 | $376.9 | +47% |
| 2021 | $376.9 | $582.4 | +55% |
| 2022 | $582.4 | $248.2 | -57% |
| 2023 | $248.2 | $273.3 | +10% |
| 2024 | $273.3 | $389.1 | +42% |
| 2025 | $389.1 | $246.3 | -37% |
| 2026 YTD | $246.3 | $317.8 | +29% |
ZBRA has finished higher in four of the last six years. It's up 29% so far in 2026.