Indie Semiconductor, Inc.

Technology
Semiconductors
www.indiesemi.com

Moat Score
Safety Score

Market Cap $735.52M
PE -6
Debt $176.62M
Cash $107.20M
EV $804.94M
FCF -$84.96M

Earnings

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Sales & Net Margins

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Earnings	-$124.44M
EBIT	-$130.67M
ROE	-25%
ROA	-16%
FCF	-$84.96M
Equity	$488.80M
Growth Stability	1
PE	-5.91
PB	1.5
P/FCF	-8.66
P/S	3.21
Price/Cash	0.15
Debt/Equity	0.36
Debt/FCF	-2.08
Net Margins	-69%
Gross Margins	41%
Op. Margins	-57%
Sales Growth YoY	-11%
Sales Growth QoQ	3%
Sales CAGR	35%
Equity CAGR	36%
Earnings Growth YoY	192%

Earnings Growth QoQ	160%
Sales CAGR 5Y	35%
Equity CAGR 5Y	36%
Earnings CAGR 3Y	30%
Sales CAGR 3Y	30%
Equity CAGR 3Y	22%
Market Cap	$735.52M
Revenue	$228.81M
Assets	$797.46M
Total Debt	$176.62M
Cash	$107.20M
Shares Outstanding	171.45M
EV	804.94M
Moat Score	2%
Safety Score	66%
Working Capital	139.94M
Current Ratio	2.39
Gross Profit	$93.51M
Shares Growth 3y	20%
Equity Growth QoQ	-3%
Equity Growth YoY	18%

Assets & ROA

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Stockholders Equity & ROE

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Indie Semiconductor Inc is empowering the Autotech revolution with next-generation automotive semiconductors and software platforms. It focuses on edge sensors for Advanced Driver Assistance Systems including LiDAR, connected car, user experience, and electrification applications. These technologies represent the core underpinnings of both electric and autonomous vehicles, while the advanced user interfaces transform the in-cabin experience to mirror and seamlessly connect to the mobile platforms.

SEC Filings

Direct access to Indie Semiconductor, Inc. (INDI) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Indie Semiconductor, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Indie Semiconductor, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

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Indie Semiconductor, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Indie Semiconductor, Inc..

Years

Calculation mode

= -$850M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$85M	-$85M	-$85M	-$85M	-$85M	-$85M	-$85M	-$85M	-$85M	-$85M	-$85M	-$850M
DCF		-$77M	-$70M	-$64M	-$58M	-$53M	-$48M	-$44M	-$40M	-$36M	-$33M	-$328M
Value	-$850M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2020	12/2022	12/2023	TTM
Net Margins	-435%	-48%	-58%	-69%
ROA	-	-	-16%	-16%
ROE	-	-17%	-27%	-25%

Bad Net Margins (-69.21%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2020	12/2022	12/2023	TTM
Debt over FCF	-	-	-1.37	-2.08
Debt over Equity	-	0.55	0.34	0.36
Growth Stability	-	-	-	1

Good Debt/FCF ratio (-2.08)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.36)

The company is not overleveraged and has a good balance between equity and debt.

Good Graham’s Stability (1)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2020	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	390%	101%	35%
Earnings YoY growth	-	-46%	144%	-
Equity YoY growth	-	-	52%	36%
FCF YoY growth	-	286%	39%	-