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indie Semiconductor Inc(INDI)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL
1-STAR RATING
PASS
LAST CLOSE
$3.2
09/22/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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Advisory Performance History (Simulated)Advisory Performance History info

Upturn Advisory & Investor View for INDI

09/22/2026: INDI (1-star) is currently NOT-A-BUY. Pass it for now.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Price Behavior

Rolling Over
PRICE PATH

Rolling Over

The price momentum is slowing down and beginning to turn downward.

Highly Choppy
PRICE STABILITY

Highly Choppy

The stock has experienced frequent, large price swings that make its near-term movement less predictable.

Analysis of Past Performance

Type Stock
Historic Profit -32.67%
Avg. Invested days 27
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 2.0
Stock Returns Performance Upturn Returns Performance icon 1.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/22/2026

Upturn Scorecard

Upturn Star Rating

INDI receives a 3-star rating, supported by solid analyst coverage. The rating is constrained by weak unit economics, soft quantitative characteristics, and weak price momentum.

Company Fundamentals

INDI has moderate overall fundamentals (3 stars), with soft financial health, moderate growth momentum, and solid ownership. In FY2025 versus FY2024, growth and ownership metrics are mixed: negative earnings growth (-8.6%), soft cash generation (FCF margin -32.9%), moderate revenue growth (+0.3%).

Financial Health Rating

INDI's financial health is supported by moderate liquidity, including working-capital and asset support (WC/assets 24.9%). Operating efficiency is soft (2 stars), which helps explain the 2-star overall score.

Growth Momentum Score

Free-cash-flow growth is INDI's strongest growth driver at +2.1% FY2025 versus FY2024 (moderate, 3 stars). By comparison, while earnings growth (-8.6%, negative) holds the profile back, so recent growth is not broad-based across the business.

Ownership

Institutional ownership is 113.3% and approximately 98.6% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 1.60% provides only moderate management-shareholder alignment.

Top 5 Institutional Investors

PRIMECAP Management Company 13.64%
BAMCO Inc 10.07%
Granahan Investment Management Inc.. 8.75%
BlackRock Inc 6.99%
Frontier Capital Management CO Inc 6.87%

Unit Economics (Per $1K Revenue)

INDI generates approximately $403 of gross profit, $-663 of operating income, and $-329 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Strong cash conversion and healthy margins support the rating, although capital efficiency remains below the highest tier.

Economic Dimensions

Effective Tax Rate: 1.95%

Quantitative Style Profile

INDI has a liquid profile. Weak momentum is the primary drawback, while elevated volatility.

Style Classification

Quality Focused

Value-OrientedHigh VolatilitySmall / Mid Cap RiskShort Squeeze RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 744.11M USD
Price to earnings Ratio -
1Y Target Price 5.72
Price to earnings Ratio -
1Y Target Price 5.72
Volume (30-day avg) 6.5M shares
Beta 2.78
52 Weeks Range 2.32 - 6.05
Updated Date 09/22/2026
52 Weeks Range 2.32 - 6.05
Updated Date 09/22/2026
Dividends yield (FY) -
Basic EPS (TTM) -0.73

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

Revenue by Geography

Geography revenue - Year on Year

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Valuation

Trailing PE -
Forward PE 128.21
Enterprise Value 1.01B
Price to Sales(TTM) 3.22
Enterprise Value 1.01B
Price to Sales(TTM) 3.22
Enterprise Value to Revenue 4.35
Enterprise Value to EBITDA -10.53
Shares Outstanding 217.93M
Shares Floating 214.86M
Shares Outstanding 217.93M
Shares Floating 214.86M
Percent Insiders 1.6
Percent Institutions 113.35

Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About indie Semiconductor Inc

Exchange NASDAQ
Headquarters Aliso Viejo, CA, United States
IPO Launch date 2021-06-10
Co-Founder, CEO & Director Mr. Donald McClymont
Sector Technology
Industry Semiconductors
Full time employees 800
Full time employees 800

indie Semiconductor, Inc. provides automotive semiconductors and software solutions for advanced driver assistance systems, autonomous vehicles, connected car, user experience, and electrification applications. It designs, develops, manufactures, and markets integrated circuits. The company also offers mixed-signal system-on-chips (SoCs) and system solutions for advanced driver assistance systems. In addition, it offers ultrasonic sensors for parking assist and systems; radar sensors for audio assistance and reverse information; front cameras for vehicle detection, collision avoidance, and sign reading; and side/inside cameras for blind spot and lane change assist, and driver behavior monitoring. The company also provides LiDAR for distance, speed, and obstacle detection, collision avoidance, and emergency brake system; and long range RADAR for audio assistance, obstacle detection, and ACC stop and go. Further, the company designs, manufactures, and integrates photonic components and sub-systems on various technology platforms, including fiber Bragg gratings (FBG), low-noise lasers, athermal and tunable packaging, leveraging low-noise, and high-speed electronics; and designs and develops standard and custom light sources, including super luminescent light emitting diodes (SLEDs). Additionally, it is developing LiDAR, cybersecurity-enabled microcontrollers, and sensor-fusion processors. The company provides solutions in the United States, Greater China, Europe, South Korea, rest of North America, rest of the Asia Pacific, and South America. indie Semiconductor, Inc. was founded in 2007 and is headquartered in Aliso Viejo, California.