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Side-by-side financial comparison of indie Semiconductor, Inc. (INDI) and Montauk Renewables, Inc. (MNTK). Click either name above to swap in a different company.
indie Semiconductor, Inc. is the larger business by last-quarter revenue ($55.5M vs $43.4M, roughly 1.3× Montauk Renewables, Inc.). On growth, Montauk Renewables, Inc. posted the faster year-over-year revenue change (56.7% vs 2.6%). Over the past eight quarters, Montauk Renewables, Inc.'s revenue compounded faster (5.8% CAGR vs 2.9%).
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.
Montauk Renewables, Inc. is a US-based renewable energy firm specializing in capturing and converting biogenic methane from landfills and agricultural waste into renewable natural gas (RNG) and low-carbon electricity. It serves utility, commercial, and industrial customers across North America, with operations focused on advancing decarbonization and sustainable energy transition goals.
INDI vs MNTK — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $55.5M | $43.4M |
| Net Profit | — | $2.5M |
| Gross Margin | 38.0% | — |
| Operating Margin | -70.1% | -3.8% |
| Net Margin | — | 5.7% |
| Revenue YoY | 2.6% | 56.7% |
| Net Profit YoY | — | 129.5% |
| EPS (diluted) | — | $0.01 |
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 | $58.0M | $43.4M | ||
| Q3 25 | $53.7M | $45.3M | ||
| Q2 25 | $51.6M | $45.1M | ||
| Q1 25 | $54.1M | $42.6M | ||
| Q4 24 | $58.0M | $27.7M | ||
| Q3 24 | $54.0M | $65.9M | ||
| Q2 24 | $52.4M | $43.3M |
| Q1 26 | — | — | ||
| Q4 25 | $-31.2M | $2.5M | ||
| Q3 25 | $-38.3M | $5.2M | ||
| Q2 25 | $-39.0M | $-5.5M | ||
| Q1 25 | $-34.5M | $-464.0K | ||
| Q4 24 | $-34.4M | $-8.5M | ||
| Q3 24 | $-49.7M | $17.0M | ||
| Q2 24 | $-19.2M | $-712.0K |
| Q1 26 | 38.0% | — | ||
| Q4 25 | 37.3% | — | ||
| Q3 25 | 40.1% | — | ||
| Q2 25 | 40.6% | — | ||
| Q1 25 | 41.7% | — | ||
| Q4 24 | 42.6% | — | ||
| Q3 24 | 39.3% | 43.8% | ||
| Q2 24 | 42.2% | 15.6% |
| Q1 26 | -70.1% | — | ||
| Q4 25 | -58.5% | -3.8% | ||
| Q3 25 | -71.4% | 9.8% | ||
| Q2 25 | -83.3% | -5.2% | ||
| Q1 25 | -72.0% | 1.0% | ||
| Q4 24 | -58.4% | -35.5% | ||
| Q3 24 | -92.5% | 34.4% | ||
| Q2 24 | -70.0% | 2.0% |
| Q1 26 | — | — | ||
| Q4 25 | -53.8% | 5.7% | ||
| Q3 25 | -71.3% | 11.5% | ||
| Q2 25 | -75.6% | -12.2% | ||
| Q1 25 | -63.9% | -1.1% | ||
| Q4 24 | -59.2% | -30.5% | ||
| Q3 24 | -92.1% | 25.9% | ||
| Q2 24 | -36.6% | -1.6% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.16 | $0.01 | ||
| Q3 25 | $-0.19 | $0.04 | ||
| Q2 25 | $-0.20 | $-0.04 | ||
| Q1 25 | $-0.18 | $0.00 | ||
| Q4 24 | $-0.18 | $-0.05 | ||
| Q3 24 | $-0.28 | $0.12 | ||
| Q2 24 | $-0.11 | $-0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $174.4M | $23.8M |
| Total DebtLower is stronger | $402.8M | $126.0M |
| Stockholders' EquityBook value | $348.9M | $263.1M |
| Total Assets | $869.6M | $435.5M |
| Debt / EquityLower = less leverage | 1.15× | 0.48× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $174.4M | — | ||
| Q4 25 | $145.5M | $23.8M | ||
| Q3 25 | $160.9M | $6.8M | ||
| Q2 25 | $192.6M | $29.1M | ||
| Q1 25 | $236.6M | $40.1M | ||
| Q4 24 | $274.2M | $45.6M | ||
| Q3 24 | $96.9M | $55.0M | ||
| Q2 24 | $112.3M | $42.3M |
| Q1 26 | $402.8M | — | ||
| Q4 25 | $353.4M | $126.0M | ||
| Q3 25 | $353.5M | $54.9M | ||
| Q2 25 | $352.5M | $57.8M | ||
| Q1 25 | $379.0M | $40.8M | ||
| Q4 24 | $381.3M | $43.8M | ||
| Q3 24 | — | $46.7M | ||
| Q2 24 | — | $49.7M |
| Q1 26 | $348.9M | — | ||
| Q4 25 | $358.0M | $263.1M | ||
| Q3 25 | $369.2M | $260.7M | ||
| Q2 25 | $390.4M | $254.7M | ||
| Q1 25 | $405.6M | $258.2M | ||
| Q4 24 | $417.9M | $257.4M | ||
| Q3 24 | $458.6M | $275.3M | ||
| Q2 24 | $470.7M | $255.3M |
| Q1 26 | $869.6M | — | ||
| Q4 25 | $840.8M | $435.5M | ||
| Q3 25 | $855.1M | $383.3M | ||
| Q2 25 | $867.6M | $382.5M | ||
| Q1 25 | $909.0M | $354.2M | ||
| Q4 24 | $941.4M | $349.0M | ||
| Q3 24 | $797.5M | $374.1M | ||
| Q2 24 | $797.3M | $362.0M |
| Q1 26 | 1.15× | — | ||
| Q4 25 | 0.99× | 0.48× | ||
| Q3 25 | 0.96× | 0.21× | ||
| Q2 25 | 0.90× | 0.23× | ||
| Q1 25 | 0.93× | 0.16× | ||
| Q4 24 | 0.91× | 0.17× | ||
| Q3 24 | — | 0.17× | ||
| Q2 24 | — | 0.19× |
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 | — | $337.0K |
| Free Cash FlowOCF − Capex | — | $-41.1M |
| FCF MarginFCF / Revenue | — | -94.7% |
| Capex IntensityCapex / Revenue | — | 95.5% |
| Cash ConversionOCF / Net Profit | — | 0.14× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-86.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-14.4M | $337.0K | ||
| Q3 25 | $-6.2M | $12.7M | ||
| Q2 25 | $-7.6M | $8.2M | ||
| Q1 25 | $-29.0M | $9.1M | ||
| Q4 24 | $-6.7M | $724.0K | ||
| Q3 24 | $-22.8M | $28.6M | ||
| Q2 24 | $-19.7M | $193.0K |
| Q1 26 | — | — | ||
| Q4 25 | $-16.1M | $-41.1M | ||
| Q3 25 | $-10.3M | $-17.2M | ||
| Q2 25 | $-13.6M | $-25.5M | ||
| Q1 25 | $-31.4M | $-2.5M | ||
| Q4 24 | $-8.6M | $-8.3M | ||
| Q3 24 | $-29.3M | $16.0M | ||
| Q2 24 | $-23.4M | $-18.6M |
| Q1 26 | — | — | ||
| Q4 25 | -27.8% | -94.7% | ||
| Q3 25 | -19.2% | -37.9% | ||
| Q2 25 | -26.4% | -56.4% | ||
| Q1 25 | -58.0% | -5.8% | ||
| Q4 24 | -14.8% | -29.8% | ||
| Q3 24 | -54.3% | 24.3% | ||
| Q2 24 | -44.7% | -42.9% |
| Q1 26 | — | — | ||
| Q4 25 | 3.0% | 95.5% | ||
| Q3 25 | 7.8% | 65.9% | ||
| Q2 25 | 11.6% | 74.6% | ||
| Q1 25 | 4.4% | 27.3% | ||
| Q4 24 | 3.2% | 32.5% | ||
| Q3 24 | 12.1% | 19.1% | ||
| Q2 24 | 7.0% | 43.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.14× | ||
| Q3 25 | — | 2.43× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.68× | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
INDI
| Product revenue | $51.6M | 93% |
| Contract revenue | $3.9M | 7% |
MNTK
| Natural Gas Environmental Attributes | $28.1M | 65% |
| Natural Gas Commodity | $10.7M | 25% |
| Electric Commodity | $2.7M | 6% |
| Electric Environmental Attributes | $2.0M | 5% |
