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Friday 6 November 2026
Export INDI’s income statement to Excel — free account
indie Semiconductor, Inc.
INDI Technology Semiconductors
indie Semiconductor, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $217.4 million, roughly unchanged from fiscal 2024.
- Revenue
- +24.0%
- EPS
- +15.0%
- Free cash flow
- −134.9%
- Total debt
- +18.0%
Quarter to June 2026, against a year earlier
1.79
0.43
+31.62%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | 23 | 48 | 111 | 223 | 217 | 217 | 231 | +57.2% | 267 | 355 | 458 | +28.2% | |
| Gross margin, % | — | — | — | — | 42.32 | 40.71 | 45.40 | 40.13 | 41.68 | 39.85 | 37.77 | (2.5) pt | ||||||
| EBT | — | — | — | 2 | (98) | (119) | (54) | (133) | (146) | (154) | (162) | n/m | ||||||
| EBT margin, % | — | — | — | 0.00 | (434.92) | (245.67) | (48.58) | (59.76) | (67.43) | (70.71) | (70.26) | (70.7) pt | ||||||
| Net income | — | 0 | — | 2 | (98) | (119) | (53) | (129) | (144) | (151) | (158) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | 0.00 | 0.72 | 0.69 | 0.93 | 1.54 | 1.24 | 1.10 | 1.09 | n/m | |||||
| Earnings | — | — | — | 0.23 | (3.15) | (1.25) | (0.37) | (0.81) | (0.76) | (0.73) | (0.73) | n/m | ||||||
| Cash flow | — | — | — | (0.08) | (0.68) | (0.80) | (0.65) | (0.72) | (0.33) | (0.29) | (0.34) | +22.9% | ||||||
| Capex | — | — | — | 0.00 | (0.02) | (0.06) | (0.06) | (0.09) | (0.09) | (0.07) | (0.06) | n/m | ||||||
| Free cash flow | — | — | — | (0.08) | (0.70) | (0.86) | (0.71) | (0.81) | (0.43) | (0.36) | (0.39) | +27.5% | ||||||
| Book value | — | — | — | (3.78) | (3.25) | 4.17 | 2.65 | 3.29 | 2.54 | 1.95 | 1.52 | n/m | ||||||
| Shares, m | — | — | — | 9 | 31 | 70 | 119 | 145 | 175 | 197 | 204 | +66.8% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | — | — | — | — | 0.00 | 17.34 | 6.20 | 4.93 | 3.27 | 3.20 | 1.25 | 5.8 | ||||||
| P/B | — | — | — | — | 0.00 | 2.88 | 2.19 | 2.31 | 1.59 | 1.81 | 0.90 | 1.8 | ||||||
| EV/Sales | — | — | — | — | 0.00 | 12.97 | 4.84 | 4.97 | 3.72 | 4.11 | 2.40 | 5.1 | ||||||
| EV/FCF | — | — | — | — | (19.57) | (10.48) | (6.26) | (9.37) | (10.79) | (12.22) | (6.50) | (11.4) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | (1) | (21) | (56) | (77) | (104) | (59) | (57) | (72) | +105.0% | |||||
| Capex | — | — | — | — | (1) | (4) | (8) | (13) | (16) | (14) | (12) | +79.3% | ||||||
| Free cash flow | — | — | — | (1) | (22) | (60) | (84) | (117) | (75) | (71) | (84) | +112.8% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | (23) | (92) | 214 | 310 | 133 | 324 | 209 | 226 | n/m | |||||
| Net debt | — | — | — | 0 | 2 | (212) | (150) | 9 | 97 | 198 | 267 | n/m | ||||||
| Shareholders’ equity | — | — | — | (35) | (101) | 292 | 314 | 477 | 445 | 384 | 322 | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | 1.19 | (50.84) | (34.91) | (8.09) | (16.54) | (15.07) | (16.06) | (17.52) | (17.2) pt | |||||
| ROIC | — | — | — | 0.00 | 0.00 | (58.22) | (45.44) | (17.41) | (19.61) | (16.57) | (15.51) | (16.6) pt | ||||||
| ROE | — | — | — | 0.75 | 143.31 | (92.50) | (14.32) | (29.73) | (28.75) | (34.50) | (40.62) | (35.2) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | 3 | 3 | 400 | 600 | 900 | 920 | 800 | — | +153.7% | |||||
| Revenue/emp, $m | — | — | — | 0.00 | 7.54 | 0.12 | 0.18 | 0.25 | 0.24 | 0.27 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026
indie Semiconductor, Inc. vs peers in Semiconductors (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| AIP Arteris, Inc. | $783.0M | — (loss-making) | — (loss-making) | +48.06% (above 0%: growing) | n/m | −186.00% (below 0%: shrinking) | 86.61% | (43.90%) | Compare |
| POET POET Technologies Inc. | $737.2M | — (loss-making) | — | +112.25% (above 0%: growing) | n/m | −55.77% (below 0%: shrinking) | 100.00% | (3,542.81%) | Compare |
| CEVA Ceva, Inc. | $691.5M | — (loss-making) | — (loss-making) | +13.07% (above 0%: growing) | n/m | +31.02% (above 0%: growing) | 87.44% | (7.15%) | Compare |
| AOSL Alpha and Omega Semiconductor Limited | $560.0M | — (loss-making) | — (loss-making) | −3.46% (below 0%: shrinking) | n/m | −45.84% (below 0%: shrinking) | 23.09% | (6.45%) | Compare |
| NVEC NVE Corporation | $345.0M | 19.5× | 17.7× | −8.07% (below 0%: shrinking) | −2.94% (below 0%: shrinking) | +112.93% (above 0%: growing) | 78.22% | 54.95% | Compare |
| INDI indie Semiconductor, Inc. | $314.1M | — (loss-making) | — (loss-making) | +23.97% (above 0%: growing) | n/m | −134.86% (below 0%: shrinking) | 36.07% | (54.81%) | |
| LAES SEALSQ Corp. | $284.0M | — | — | — | — | −417.61% (below 0%: shrinking) | — | — | Compare |
| MRAM EVERSPIN TECH | $262.0M | — (loss-making) | — (loss-making) | +41.93% (above 0%: growing) | n/m | −165.66% (below 0%: shrinking) | 53.89% | (23.39%) | Compare |
| VLN Valens Semiconductor, Ltd. | $147.3M | — (loss-making) | — (loss-making) | +6.13% (above 0%: growing) | n/m | −1,024.55% (below 0%: shrinking) | 61.52% | (43.89%) | Compare |
| Median of peers | $452.5M | — | — | +13.07% | — | −110.71% | 78.22% | (23.39%) |