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Side-by-side financial comparison of GRAHAM CORP (GHM) and indie Semiconductor, Inc. (INDI). Click either name above to swap in a different company.
GRAHAM CORP is the larger business by last-quarter revenue ($56.7M vs $55.5M, roughly 1.0× indie Semiconductor, Inc.). On growth, GRAHAM CORP posted the faster year-over-year revenue change (20.5% vs 2.6%). Over the past eight quarters, GRAHAM CORP's revenue compounded faster (7.5% CAGR vs 2.9%).
Graham Holdings Company is a diversified American conglomerate holding company. Headquartered in Arlington County, Virginia, and incorporated in Delaware, it was formerly the owner of The Washington Post newspaper and Newsweek magazine.
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.
GHM vs INDI — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $56.7M | $55.5M |
| Net Profit | $2.8M | — |
| Gross Margin | 23.8% | 38.0% |
| Operating Margin | 5.5% | -70.1% |
| Net Margin | 5.0% | — |
| Revenue YoY | 20.5% | 2.6% |
| Net Profit YoY | 79.2% | — |
| EPS (diluted) | $0.25 | — |
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.
| Q1 26 | — | $55.5M | ||
| Q4 25 | $56.7M | $58.0M | ||
| Q3 25 | $66.0M | $53.7M | ||
| Q2 25 | $55.5M | $51.6M | ||
| Q1 25 | $59.3M | $54.1M | ||
| Q4 24 | $47.0M | $58.0M | ||
| Q3 24 | $53.6M | $54.0M | ||
| Q2 24 | $50.0M | $52.4M |
| Q1 26 | — | — | ||
| Q4 25 | $2.8M | $-31.2M | ||
| Q3 25 | $3.1M | $-38.3M | ||
| Q2 25 | $4.6M | $-39.0M | ||
| Q1 25 | $4.4M | $-34.5M | ||
| Q4 24 | $1.6M | $-34.4M | ||
| Q3 24 | $3.3M | $-49.7M | ||
| Q2 24 | $3.0M | $-19.2M |
| Q1 26 | — | 38.0% | ||
| Q4 25 | 23.8% | 37.3% | ||
| Q3 25 | 21.7% | 40.1% | ||
| Q2 25 | 26.5% | 40.6% | ||
| Q1 25 | 27.0% | 41.7% | ||
| Q4 24 | 24.8% | 42.6% | ||
| Q3 24 | 23.9% | 39.3% | ||
| Q2 24 | 24.8% | 42.2% |
| Q1 26 | — | -70.1% | ||
| Q4 25 | 5.5% | -58.5% | ||
| Q3 25 | 6.5% | -71.4% | ||
| Q2 25 | 8.9% | -83.3% | ||
| Q1 25 | 9.3% | -72.0% | ||
| Q4 24 | 4.7% | -58.4% | ||
| Q3 24 | 7.9% | -92.5% | ||
| Q2 24 | 6.5% | -70.0% |
| Q1 26 | — | — | ||
| Q4 25 | 5.0% | -53.8% | ||
| Q3 25 | 4.7% | -71.3% | ||
| Q2 25 | 8.3% | -75.6% | ||
| Q1 25 | 7.4% | -63.9% | ||
| Q4 24 | 3.4% | -59.2% | ||
| Q3 24 | 6.1% | -92.1% | ||
| Q2 24 | 5.9% | -36.6% |
| Q1 26 | — | — | ||
| Q4 25 | $0.25 | $-0.16 | ||
| Q3 25 | $0.28 | $-0.19 | ||
| Q2 25 | $0.42 | $-0.20 | ||
| Q1 25 | $0.40 | $-0.18 | ||
| Q4 24 | $0.14 | $-0.18 | ||
| Q3 24 | $0.30 | $-0.28 | ||
| Q2 24 | $0.27 | $-0.11 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $22.3M | $174.4M |
| Total DebtLower is stronger | — | $402.8M |
| Stockholders' EquityBook value | $131.3M | $348.9M |
| Total Assets | $292.9M | $869.6M |
| Debt / EquityLower = less leverage | — | 1.15× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $174.4M | ||
| Q4 25 | $22.3M | $145.5M | ||
| Q3 25 | $20.6M | $160.9M | ||
| Q2 25 | $10.8M | $192.6M | ||
| Q1 25 | $21.6M | $236.6M | ||
| Q4 24 | $30.0M | $274.2M | ||
| Q3 24 | $32.3M | $96.9M | ||
| Q2 24 | $21.6M | $112.3M |
| Q1 26 | — | $402.8M | ||
| Q4 25 | — | $353.4M | ||
| Q3 25 | — | $353.5M | ||
| Q2 25 | — | $352.5M | ||
| Q1 25 | — | $379.0M | ||
| Q4 24 | — | $381.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $348.9M | ||
| Q4 25 | $131.3M | $358.0M | ||
| Q3 25 | $127.6M | $369.2M | ||
| Q2 25 | $123.4M | $390.4M | ||
| Q1 25 | $119.6M | $405.6M | ||
| Q4 24 | $114.4M | $417.9M | ||
| Q3 24 | $112.5M | $458.6M | ||
| Q2 24 | $108.2M | $470.7M |
| Q1 26 | — | $869.6M | ||
| Q4 25 | $292.9M | $840.8M | ||
| Q3 25 | $287.0M | $855.1M | ||
| Q2 25 | $252.3M | $867.6M | ||
| Q1 25 | $264.1M | $909.0M | ||
| Q4 24 | $264.3M | $941.4M | ||
| Q3 24 | $249.5M | $797.5M | ||
| Q2 24 | $244.2M | $797.3M |
| Q1 26 | — | 1.15× | ||
| Q4 25 | — | 0.99× | ||
| Q3 25 | — | 0.96× | ||
| Q2 25 | — | 0.90× | ||
| Q1 25 | — | 0.93× | ||
| Q4 24 | — | 0.91× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $4.8M | — |
| Free Cash FlowOCF − Capex | $2.4M | — |
| FCF MarginFCF / Revenue | 4.3% | — |
| Capex IntensityCapex / Revenue | 4.1% | — |
| Cash ConversionOCF / Net Profit | 1.67× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-6.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $4.8M | $-14.4M | ||
| Q3 25 | $13.6M | $-6.2M | ||
| Q2 25 | $-2.3M | $-7.6M | ||
| Q1 25 | $-3.6M | $-29.0M | ||
| Q4 24 | $5.2M | $-6.7M | ||
| Q3 24 | $13.9M | $-22.8M | ||
| Q2 24 | $8.7M | $-19.7M |
| Q1 26 | — | — | ||
| Q4 25 | $2.4M | $-16.1M | ||
| Q3 25 | $9.4M | $-10.3M | ||
| Q2 25 | $-9.3M | $-13.6M | ||
| Q1 25 | $-8.7M | $-31.4M | ||
| Q4 24 | $-2.1M | $-8.6M | ||
| Q3 24 | $10.4M | $-29.3M | ||
| Q2 24 | $5.7M | $-23.4M |
| Q1 26 | — | — | ||
| Q4 25 | 4.3% | -27.8% | ||
| Q3 25 | 14.3% | -19.2% | ||
| Q2 25 | -16.7% | -26.4% | ||
| Q1 25 | -14.7% | -58.0% | ||
| Q4 24 | -4.5% | -14.8% | ||
| Q3 24 | 19.5% | -54.3% | ||
| Q2 24 | 11.5% | -44.7% |
| Q1 26 | — | — | ||
| Q4 25 | 4.1% | 3.0% | ||
| Q3 25 | 6.3% | 7.8% | ||
| Q2 25 | 12.6% | 11.6% | ||
| Q1 25 | 8.7% | 4.4% | ||
| Q4 24 | 15.6% | 3.2% | ||
| Q3 24 | 6.5% | 12.1% | ||
| Q2 24 | 6.0% | 7.0% |
| Q1 26 | — | — | ||
| Q4 25 | 1.67× | — | ||
| Q3 25 | 4.40× | — | ||
| Q2 25 | -0.49× | — | ||
| Q1 25 | -0.81× | — | ||
| Q4 24 | 3.29× | — | ||
| Q3 24 | 4.25× | — | ||
| Q2 24 | 2.94× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GHM
| Defense | $35.3M | 62% |
| Energy And Process | $18.3M | 32% |
| Space | $3.1M | 6% |
INDI
| Product revenue | $51.6M | 93% |
| Contract revenue | $3.9M | 7% |
