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INDIE SEMICONDUCTOR INC-A (INDI) Stock Fundamental Analysis

NASDAQ:INDI - Nasdaq - US45569U1016 - Common Stock - Currency: USD

2.61  -0.04 (-1.51%)

After market: 2.68 +0.07 (+2.68%)

Fundamental Rating

3

INDI gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 110 industry peers in the Semiconductors & Semiconductor Equipment industry. Both the profitability and financial health of INDI have multiple concerns. INDI is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

In the past year INDI has reported negative net income.
In the past year INDI has reported a negative cash flow from operations.
INDI had negative earnings in each of the past 5 years.
INDI had a negative operating cash flow in each of the past 5 years.
INDI Yearly Net Income VS EBIT VS OCF VS FCFINDI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2018 2019 2020 2021 2022 2023 2024 -50M -100M -150M

1.2 Ratios

Looking at the Return On Assets, with a value of -14.96%, INDI is doing worse than 79.09% of the companies in the same industry.
Looking at the Return On Equity, with a value of -33.53%, INDI is doing worse than 80.00% of the companies in the same industry.
Industry RankSector Rank
ROA -14.96%
ROE -33.53%
ROIC N/A
ROA(3y)-11.88%
ROA(5y)-66.42%
ROE(3y)-23.99%
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
INDI Yearly ROA, ROE, ROICINDI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2018 2019 2020 2021 2022 2023 2024 0 100 -100 -200

1.3 Margins

Looking at the Gross Margin, with a value of 41.48%, INDI is in line with its industry, outperforming 41.82% of the companies in the same industry.
In the last couple of years the Gross Margin of INDI has grown nicely.
INDI does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 41.48%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0.79%
GM growth 5Y6.21%
INDI Yearly Profit, Operating, Gross MarginsINDI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2018 2019 2020 2021 2022 2023 2024 0 -100 -200 -300 -400

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3

2. Health

2.1 Basic Checks

INDI does not have a ROIC to compare to the WACC, probably because it is not profitable.
INDI has more shares outstanding than it did 1 year ago.
INDI has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, INDI has a worse debt to assets ratio.
INDI Yearly Shares OutstandingINDI Yearly Shares OutstandingYearly Shares Outstanding 2019 2020 2021 2022 2023 2024 50M 100M 150M
INDI Yearly Total Debt VS Total AssetsINDI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M

2.2 Solvency

INDI has an Altman-Z score of -0.06. This is a bad value and indicates that INDI is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of INDI (-0.06) is worse than 73.64% of its industry peers.
INDI has a Debt/Equity ratio of 0.90. This is a neutral value indicating INDI is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.90, INDI is doing worse than 83.64% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.9
Debt/FCF N/A
Altman-Z -0.06
ROIC/WACCN/A
WACC9.91%
INDI Yearly LT Debt VS Equity VS FCFINDI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2019 2020 2021 2022 2023 2024 0 100M -100M 200M 300M 400M

2.3 Liquidity

INDI has a Current Ratio of 5.30. This indicates that INDI is financially healthy and has no problem in meeting its short term obligations.
The Current ratio of INDI (5.30) is better than 80.91% of its industry peers.
INDI has a Quick Ratio of 4.64. This indicates that INDI is financially healthy and has no problem in meeting its short term obligations.
Looking at the Quick ratio, with a value of 4.64, INDI belongs to the top of the industry, outperforming 81.82% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 5.3
Quick Ratio 4.64
INDI Yearly Current Assets VS Current LiabilitesINDI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M

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6

3. Growth

3.1 Past

The earnings per share for INDI have decreased by -10.00% in the last year.
The Revenue has decreased by -7.09% in the past year.
Measured over the past years, INDI shows a very strong growth in Revenue. The Revenue has been growing by 57.02% on average per year.
EPS 1Y (TTM)-10%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%27.27%
Revenue 1Y (TTM)-7.09%
Revenue growth 3Y64.81%
Revenue growth 5Y57.02%
Sales Q2Q%3.29%

3.2 Future

Based on estimates for the next years, INDI will show a very strong growth in Earnings Per Share. The EPS will grow by 45.78% on average per year.
Based on estimates for the next years, INDI will show a very strong growth in Revenue. The Revenue will grow by 29.93% on average per year.
EPS Next Y52.64%
EPS Next 2Y51.77%
EPS Next 3Y45.78%
EPS Next 5YN/A
Revenue Next Year6.25%
Revenue Next 2Y21.1%
Revenue Next 3Y29.93%
Revenue Next 5YN/A

3.3 Evolution

The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
INDI Yearly Revenue VS EstimatesINDI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2027 100M 200M 300M 400M
INDI Yearly EPS VS EstimatesINDI Yearly EPS VS EstimatesYearly EPS VS Estimates 2021 2022 2023 2024 2025 2026 2027 0 0.2 -0.2 -0.4

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2

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for INDI. In the last year negative earnings were reported.
With a Price/Forward Earnings ratio of 23.88, INDI is valued on the expensive side.
Compared to the rest of the industry, the Price/Forward Earnings ratio of INDI is on the same level as its industry peers.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.17, INDI is valued at the same level.
Industry RankSector Rank
PE N/A
Fwd PE 23.88
INDI Price Earnings VS Forward Price EarningsINDI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 10 20 30

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
INDI Per share dataINDI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 0.5 1 1.5

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as INDI's earnings are expected to grow with 45.78% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y51.77%
EPS Next 3Y45.78%

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0

5. Dividend

5.1 Amount

No dividends for INDI!.
Industry RankSector Rank
Dividend Yield N/A

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INDIE SEMICONDUCTOR INC-A

NASDAQ:INDI (6/2/2025, 6:25:52 PM)

After market: 2.68 +0.07 (+2.68%)

2.61

-0.04 (-1.51%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)05-12 2025-05-12/amc
Earnings (Next)08-06 2025-08-06/amc
Inst Owners106.7%
Inst Owner Change-1.2%
Ins Owners1.26%
Ins Owner Change4.37%
Market Cap554.65M
Analysts80
Price Target6.57 (151.72%)
Short Float %25.34%
Short Ratio12.87
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)3.99%
Min EPS beat(2)3.68%
Max EPS beat(2)4.3%
EPS beat(4)4
Avg EPS beat(4)4.02%
Min EPS beat(4)2.28%
Max EPS beat(4)5.84%
EPS beat(8)5
Avg EPS beat(8)-3.79%
EPS beat(12)8
Avg EPS beat(12)-1.23%
EPS beat(16)11
Avg EPS beat(16)-7.41%
Revenue beat(2)0
Avg Revenue beat(2)-2.71%
Min Revenue beat(2)-3.13%
Max Revenue beat(2)-2.3%
Revenue beat(4)0
Avg Revenue beat(4)-2.8%
Min Revenue beat(4)-4.51%
Max Revenue beat(4)-1.26%
Revenue beat(8)0
Avg Revenue beat(8)-3.51%
Revenue beat(12)0
Avg Revenue beat(12)-2.8%
Revenue beat(16)2
Avg Revenue beat(16)-2.05%
PT rev (1m)-4.76%
PT rev (3m)-15.83%
EPS NQ rev (1m)-11.11%
EPS NQ rev (3m)-25%
EPS NY rev (1m)-2.07%
EPS NY rev (3m)-162.92%
Revenue NQ rev (1m)-11.12%
Revenue NQ rev (3m)-12.81%
Revenue NY rev (1m)-13.33%
Revenue NY rev (3m)-23.82%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 23.88
P/S 2.54
P/FCF N/A
P/OCF N/A
P/B 1.37
P/tB N/A
EV/EBITDA N/A
EPS(TTM)-0.33
EYN/A
EPS(NY)0.11
Fwd EY4.19%
FCF(TTM)-0.44
FCFYN/A
OCF(TTM)-0.37
OCFYN/A
SpS1.03
BVpS1.91
TBVpS-0.31
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -14.96%
ROE -33.53%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 41.48%
FCFM N/A
ROA(3y)-11.88%
ROA(5y)-66.42%
ROE(3y)-23.99%
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0.79%
GM growth 5Y6.21%
F-Score3
Asset Turnover0.24
Health
Industry RankSector Rank
Debt/Equity 0.9
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 37.31%
Cap/Sales 7.38%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 5.3
Quick Ratio 4.64
Altman-Z -0.06
F-Score3
WACC9.91%
ROIC/WACCN/A
Cap/Depr(3y)41.76%
Cap/Depr(5y)43.52%
Cap/Sales(3y)6.65%
Cap/Sales(5y)6.24%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-10%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%27.27%
EPS Next Y52.64%
EPS Next 2Y51.77%
EPS Next 3Y45.78%
EPS Next 5YN/A
Revenue 1Y (TTM)-7.09%
Revenue growth 3Y64.81%
Revenue growth 5Y57.02%
Sales Q2Q%3.29%
Revenue Next Year6.25%
Revenue Next 2Y21.1%
Revenue Next 3Y29.93%
Revenue Next 5YN/A
EBIT growth 1Y-5.24%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year51.03%
EBIT Next 3Y47.87%
EBIT Next 5YN/A
FCF growth 1Y9.37%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y16.69%
OCF growth 3YN/A
OCF growth 5YN/A