(INDI) indie Semiconductor - NASDAQ
Sector: Technology | Industry: Semiconductors | Exchange: NASDAQ (USA) | Market Cap: 873m USD | Total Return: 32.4% in 12m
Avg Turnover: 26.4M
Qual. Beats: -1
Rev. Trend: 47.0%
Qual. Beats: 0
Warnings
Interest Coverage Ratio -8.4 is critical
Altman Z'' -1.14 < 1.0 - financial distress zone
Choppy Below Avwap Earnings
Tailwinds
No distinct edge detected
indie Semiconductor (NASDAQ: INDI) is a U.S.-headquartered fabless semiconductor company that designs and markets mixed-signal integrated circuits and system-on-chip (SoC) solutions primarily for automotive applications. Founded in 2007 and based in Aliso Viejo, California, the company has been listed on NASDAQ since June 2021 and operates across the United States, Greater China, Europe, South Korea, and other regions.
Its product portfolio targets advanced driver assistance systems (ADAS), autonomous driving, connected car, in-cabin user experience, and vehicle electrification. Offerings include ultrasonic and radar sensors, front/side/inside cameras, LiDAR modules, and long-range RADAR subsystems. The company also designs photonic components such as fiber Bragg gratings, low-noise lasers, and super-luminescent LEDs (SLEDs), and is developing next-generation LiDAR, cybersecurity-enabled microcontrollers, and sensor-fusion processors.
indie sits within the broader automotive semiconductor space, a segment that has grown as vehicles incorporate more electronic content for safety, sensing, and electrification features. Unlike foundries, fabless semiconductor firms like indie outsource wafer manufacturing and focus internal resources on chip design, software integration, and reference system development for OEM and Tier-1 customers.
- ADAS and electrification drive automotive semiconductor content growth
- LiDAR and radar design wins expand addressable market share
- Competition from NXP and Texas Instruments pressures gross margins
| Net Income: -152.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.08 > 0.02 and ΔFCF/TA 2.87 > 1.0 |
| NWC/Revenue: 113.1% < 20% (prev 141.8%; Δ -28.65% < -1%) |
| CFO/TA -0.06 > 3% & CFO -50.2m > Net Income -152.6m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 4.11 > 1.5 & < 3 |
| Outstanding Shares: last quarter (199.3m) vs 12m ago 4.11% < -2% |
| Gross Margin: 21.75% > 18% (prev 41.48%; Δ -19.73% > 0.5%) |
| Asset Turnover: 24.60% > 50% (prev 24.03%; Δ 0.57% > 0%) |
| Interest Coverage Ratio: -8.45 > 6 (EBIT TTM -147.6m / Interest Expense TTM 17.5m) |
| A: 0.28 (Total Current Assets 327.2m - Total Current Liabilities 79.6m) / Total Assets 869.6m |
| B: -0.78 (Retained Earnings -680.3m / Total Assets 869.6m) |
| C: -0.17 (EBIT TTM -147.6m / Avg Total Assets 889.3m) |
| D: 0.62 (Book Value of Equity 324.6m / Total Liabilities 520.6m) |
| Altman-Z'' = -1.14 = CCC |
| DSRI: 0.96 (Receivables 60.5m/62.9m, Revenue 218.8m/218.4m) |
| GMI: 1.91 (GM 41.48% / 21.75%) |
| AQI: 1.06 (AQ_t 0.56 / AQ_t-1 0.52) |
| SGI: 1.00 (Revenue 218.8m / 218.4m) |
| TATA: -0.12 (NI -152.6m - CFO -50.2m) / TA 869.6m) |
| Beneish M = -2.21 (Cap -4..+1) = BB |
As of June 20, 2026, the stock is trading at USD 4.25 with a total of 14,485,500 shares traded.
Over the past week, the price has changed by +6.52%,
over one month by +8.70%,
over three months by +64.73% and
over the past year by +32.40%.
indie Semiconductor has received a consensus analysts rating of 4.67. Therefore, it is recommended to buy INDI.
- StrongBuy: 4
- Buy: 2
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 5.8 | 37.4% |
P/E Forward = 128.2051
P/S = 3.839
P/B = 2.5451
Revenue TTM = 218.8m USD
EBIT TTM = -147.6m USD
EBITDA TTM = -107.0m USD
Long Term Debt = 402.8m USD (from longTermDebt, last quarter)
Short Term Debt = 15.7m USD (from shortTermDebt, last quarter)
Debt = 446.7m USD (from shortLongTermDebtTotal, last quarter) + Leases 15.8m
Net Debt = 262.0m USD (calculated: Debt 446.7m - CCE 184.7m)
Enterprise Value = 1.13b USD (872.6m + Debt 446.7m - CCE 184.7m)
Interest Coverage Ratio = -8.45 (Ebit TTM -147.6m / Interest Expense TTM 17.5m)
EV/FCF = -17.37x (Enterprise Value 1.13b / FCF TTM -65.3m)
FCF Yield = -5.76% (FCF TTM -65.3m / Enterprise Value 1.13b)
FCF Margin = -29.86% (FCF TTM -65.3m / Revenue TTM 218.8m)
Net Margin = -69.76% (Net Income TTM -152.6m / Revenue TTM 218.8m)
Gross Margin = 21.75% ((Revenue TTM 218.8m - Cost of Revenue TTM 171.2m) / Revenue TTM)
Gross Margin QoQ = 38.01% (prev 38.01%)
Tobins Q-Ratio = 1.30 (Enterprise Value 1.13b / Total Assets 869.6m)
Interest Expense / Debt = 3.91% (Interest Expense 17.5m / Debt 446.7m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -116.6m (EBIT -147.6m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 4.11 (Total Current Assets 327.2m / Total Current Liabilities 79.6m)
Debt / Equity = 1.38 (Debt 446.7m / totalStockholderEquity, last quarter 324.6m)
Debt / EBITDA = -2.45 (negative EBITDA) (Net Debt 262.0m / EBITDA -107.0m)
Debt / FCF = -4.01 (negative FCF - burning cash) (Net Debt 262.0m / FCF TTM -65.3m)
Total Stockholder Equity = 360.3m (last 4 quarters mean from totalStockholderEquity)
RoA = -17.16% (Net Income -152.6m / Total Assets 869.6m)
RoE = -42.36% (Net Income TTM -152.6m / Total Stockholder Equity 360.3m)
RoCE = -19.34% (EBIT -147.6m / Capital Employed (Equity 360.3m + L.T.Debt 402.8m))
RoIC = -14.67% (negative operating profit) (NOPAT -116.6m / Invested Capital 794.6m)
WACC = 11.35% (E(872.6m)/V(1.32b) * Re(15.58%) + D(446.7m)/V(1.32b) * Rd(3.91%) * (1-Tc(0.21)))
Discount Rate = 15.58% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 96.61 | Cagr: 10.26%
[DCF] Fair Price = unknown (Cash Flow -65.3m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -4.0 | # QB: -1
Revenue Correlation: 46.96 | Revenue CAGR: 6.20% | SUE: 0.20 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.05 | Chg30d=-1.87% | Revisions=-43% | Analysts=7
EPS next Quarter (2026-09-30): EPS=-0.03 | Chg30d=N/A | Revisions=N/A | Analysts=7
EPS current Year (2026-12-31): EPS=-0.16 | Chg30d=-6.10% | Revisions=-56% | GrowthEPS=+44.8% | GrowthRev=+22.2%
EPS next Year (2027-12-31): EPS=0.14 | Chg30d=+0.00% | Revisions=-25% | GrowthEPS=+187.8% | GrowthRev=+35.4%
[Analyst] Revisions Ratio: -56%