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Side-by-side financial comparison of AMPCO PITTSBURGH CORP (AP) and indie Semiconductor, Inc. (INDI). Click either name above to swap in a different company.
AMPCO PITTSBURGH CORP is the larger business by last-quarter revenue ($104.4M vs $58.0M, roughly 1.8× indie Semiconductor, Inc.). indie Semiconductor, Inc. runs the higher net margin — -53.8% vs -55.2%, a 1.4% gap on every dollar of revenue. On growth, AMPCO PITTSBURGH CORP posted the faster year-over-year revenue change (11.5% vs -0.0%). AMPCO PITTSBURGH CORP produced more free cash flow last quarter ($-64.0K vs $-16.1M). Over the past eight quarters, indie Semiconductor, Inc.'s revenue compounded faster (5.3% CAGR vs -2.6%).
Ampco-Pittsburgh Corporation is a specialty steel manufacturer headquartered in Downtown Pittsburgh, Pennsylvania. It is one of several companies to bear the Ampco name, and it should not be confused with the Milwaukee-based copper base alloy producer, Ampco Metal Inc.; the Miami-based cabinetry company; the Swiss aluminum corporation; or the Dallas-based tool company. Ampco was formed in 1929 and is a conglomerate made up of several previously established small steel makers. Five small compa...
indie Semiconductor is a fabless semiconductor manufacturer focused on designing high-performance mixed-signal and embedded system-on-chip solutions for the automotive industry. Its products support advanced driver assistance systems, in-vehicle infotainment, connected car, and electric vehicle applications, serving global auto OEMs and tier 1 suppliers across major global markets.
AP vs INDI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $104.4M | $58.0M |
| Net Profit | $-57.7M | $-31.2M |
| Gross Margin | — | 37.3% |
| Operating Margin | -54.0% | -58.5% |
| Net Margin | -55.2% | -53.8% |
| Revenue YoY | 11.5% | -0.0% |
| Net Profit YoY | -1958.9% | 9.1% |
| EPS (diluted) | $-2.87 | $-0.16 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $104.4M | $58.0M | ||
| Q3 25 | $103.7M | $53.7M | ||
| Q2 25 | $108.9M | $51.6M | ||
| Q1 25 | $99.2M | $54.1M | ||
| Q4 24 | $93.6M | $58.0M | ||
| Q3 24 | $92.1M | $54.0M | ||
| Q2 24 | $107.1M | $52.4M | ||
| Q1 24 | $110.0M | $52.4M |
| Q4 25 | $-57.7M | $-31.2M | ||
| Q3 25 | $-2.2M | $-38.3M | ||
| Q2 25 | $-7.3M | $-39.0M | ||
| Q1 25 | $1.1M | $-34.5M | ||
| Q4 24 | $3.1M | $-34.4M | ||
| Q3 24 | $-2.0M | $-49.7M | ||
| Q2 24 | $2.0M | $-19.2M | ||
| Q1 24 | $-2.7M | $-31.2M |
| Q4 25 | — | 37.3% | ||
| Q3 25 | — | 40.1% | ||
| Q2 25 | — | 40.6% | ||
| Q1 25 | — | 41.7% | ||
| Q4 24 | — | 42.6% | ||
| Q3 24 | — | 39.3% | ||
| Q2 24 | — | 42.2% | ||
| Q1 24 | — | 42.5% |
| Q4 25 | -54.0% | -58.5% | ||
| Q3 25 | 1.1% | -71.4% | ||
| Q2 25 | -2.8% | -83.3% | ||
| Q1 25 | 3.9% | -72.0% | ||
| Q4 24 | 5.5% | -58.4% | ||
| Q3 24 | 2.0% | -92.5% | ||
| Q2 24 | 4.7% | -70.0% | ||
| Q1 24 | 0.1% | -94.8% |
| Q4 25 | -55.2% | -53.8% | ||
| Q3 25 | -2.1% | -71.3% | ||
| Q2 25 | -6.7% | -75.6% | ||
| Q1 25 | 1.2% | -63.9% | ||
| Q4 24 | 3.3% | -59.2% | ||
| Q3 24 | -2.1% | -92.1% | ||
| Q2 24 | 1.9% | -36.6% | ||
| Q1 24 | -2.5% | -59.6% |
| Q4 25 | $-2.87 | $-0.16 | ||
| Q3 25 | $-0.11 | $-0.19 | ||
| Q2 25 | $-0.36 | $-0.20 | ||
| Q1 25 | $0.06 | $-0.18 | ||
| Q4 24 | $0.16 | $-0.18 | ||
| Q3 24 | $-0.10 | $-0.28 | ||
| Q2 24 | $0.10 | $-0.11 | ||
| Q1 24 | $-0.14 | $-0.19 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $10.7M | $145.5M |
| Total DebtLower is stronger | $117.9M | $353.4M |
| Stockholders' EquityBook value | $32.6M | $358.0M |
| Total Assets | $495.4M | $840.8M |
| Debt / EquityLower = less leverage | 3.61× | 0.99× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.7M | $145.5M | ||
| Q3 25 | $15.0M | $160.9M | ||
| Q2 25 | $9.9M | $192.6M | ||
| Q1 25 | $7.1M | $236.6M | ||
| Q4 24 | $15.4M | $274.2M | ||
| Q3 24 | $11.8M | $96.9M | ||
| Q2 24 | $7.9M | $112.3M | ||
| Q1 24 | $10.8M | $138.2M |
| Q4 25 | $117.9M | $353.4M | ||
| Q3 25 | $119.0M | $353.5M | ||
| Q2 25 | $115.9M | $352.5M | ||
| Q1 25 | $115.0M | $379.0M | ||
| Q4 24 | $116.4M | $381.3M | ||
| Q3 24 | $116.0M | — | ||
| Q2 24 | $119.4M | — | ||
| Q1 24 | $116.2M | — |
| Q4 25 | $32.6M | $358.0M | ||
| Q3 25 | $60.1M | $369.2M | ||
| Q2 25 | $62.7M | $390.4M | ||
| Q1 25 | $64.6M | $405.6M | ||
| Q4 24 | $58.9M | $417.9M | ||
| Q3 24 | $61.3M | $458.6M | ||
| Q2 24 | $58.0M | $470.7M | ||
| Q1 24 | $56.3M | $432.9M |
| Q4 25 | $495.4M | $840.8M | ||
| Q3 25 | $524.4M | $855.1M | ||
| Q2 25 | $537.2M | $867.6M | ||
| Q1 25 | $536.2M | $909.0M | ||
| Q4 24 | $530.9M | $941.4M | ||
| Q3 24 | $547.4M | $797.5M | ||
| Q2 24 | $560.8M | $797.3M | ||
| Q1 24 | $565.8M | $803.6M |
| Q4 25 | 3.61× | 0.99× | ||
| Q3 25 | 1.98× | 0.96× | ||
| Q2 25 | 1.85× | 0.90× | ||
| Q1 25 | 1.78× | 0.93× | ||
| Q4 24 | 1.98× | 0.91× | ||
| Q3 24 | 1.89× | — | ||
| Q2 24 | 2.06× | — | ||
| Q1 24 | 2.06× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $2.7M | $-14.4M |
| Free Cash FlowOCF − Capex | $-64.0K | $-16.1M |
| FCF MarginFCF / Revenue | -0.1% | -27.8% |
| Capex IntensityCapex / Revenue | 2.7% | 3.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-8.1M | $-71.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.7M | $-14.4M | ||
| Q3 25 | $6.3M | $-6.2M | ||
| Q2 25 | $-2.3M | $-7.6M | ||
| Q1 25 | $-5.3M | $-29.0M | ||
| Q4 24 | $7.5M | $-6.7M | ||
| Q3 24 | $11.4M | $-22.8M | ||
| Q2 24 | $-5.3M | $-19.7M | ||
| Q1 24 | $4.5M | $-9.3M |
| Q4 25 | $-64.0K | $-16.1M | ||
| Q3 25 | $3.3M | $-10.3M | ||
| Q2 25 | $-3.8M | $-13.6M | ||
| Q1 25 | $-7.5M | $-31.4M | ||
| Q4 24 | $3.7M | $-8.6M | ||
| Q3 24 | $8.4M | $-29.3M | ||
| Q2 24 | $-8.0M | $-23.4M | ||
| Q1 24 | $1.7M | $-11.7M |
| Q4 25 | -0.1% | -27.8% | ||
| Q3 25 | 3.2% | -19.2% | ||
| Q2 25 | -3.5% | -26.4% | ||
| Q1 25 | -7.5% | -58.0% | ||
| Q4 24 | 4.0% | -14.8% | ||
| Q3 24 | 9.1% | -54.3% | ||
| Q2 24 | -7.5% | -44.7% | ||
| Q1 24 | 1.5% | -22.3% |
| Q4 25 | 2.7% | 3.0% | ||
| Q3 25 | 2.9% | 7.8% | ||
| Q2 25 | 1.3% | 11.6% | ||
| Q1 25 | 2.2% | 4.4% | ||
| Q4 24 | 4.0% | 3.2% | ||
| Q3 24 | 3.2% | 12.1% | ||
| Q2 24 | 2.5% | 7.0% | ||
| Q1 24 | 2.6% | 4.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -4.62× | — | ||
| Q4 24 | 2.40× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -2.64× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AP
| Forged And Cast Mill Rolls | $67.0M | 64% |
| Air Handling Systems | $14.3M | 14% |
| Heat Exchange Coils | $13.1M | 13% |
| Centrifugal Pumps | $10.3M | 10% |
| Forged Engineered Products | $4.0M | 4% |
INDI
| Products | $55.7M | 96% |
| Services | $2.3M | 4% |
