# Computer Hardware — company-by-company sector analysis > Computer Hardware: Dell Technologies Inc. owns the largest revenue base; IonQ, Inc. has the fastest current growth. Sector Alpha — machine-written from the numbers. Data as of 2026-08-04. Not investment advice. ## Bottom line Computer Hardware has outperformed S&P 500 by 68.2% over 52 weeks and 6% over 13 weeks. 13 of 26 covered companies beat the S&P 500 on Mansfield relative strength, while 9 of 26 beat the sector itself. Dell Technologies Inc. leads with revenue of $134,002 million, based on 21 of 29 comparable companies through Jun 2026. ## Sector relative strength Computer Hardware has outperformed S&P 500 by 68.2% over the last 52 weeks. Over 13 weeks the gap is a lead of 6%. 13 of 26 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. Dell Technologies Inc. is the strongest against the sector itself at +76%. 13-week sector return versus NIFTY 500: 6.0% 52-week sector return versus NIFTY 500: 68% Stocks leading NIFTY: 13/26 Stocks leading sector: 9/26 Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change. Companies: 29 Combined market value: ₹12.6 L Cr ## 4-Factor Sector Score An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment. 1. Dell Technologies Inc. (DELL): 78/100 — Favorable setup; evidence 81% - Growth & earnings 27.9/35 | Capital efficiency 15.1/25 | Valuation 15.2/20 | Relative strength 20.0/20 - Price stage: LEADER — Ahead of the benchmark 13 weeks or more running, and ahead over the past year. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 12 of the last 12 weeks - Exact sum: 27.9 + 15.1 + 15.2 + 20 = 78.2 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 2. Sandisk Corporation (SNDK): 65/100 — Thin evidence · provisional; evidence 56% - Growth & earnings 22.1/35 | Capital efficiency 19.9/25 | Valuation 9.4/20 | Relative strength 13.3/20 - Price stage: FADING — Was leading by 5% or more four weeks ago and is not now. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 10 of the last 12 weeks - Exact sum: 22.1 + 19.9 + 9.4 + 13.3 = 64.7 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 3. Seagate Technology Holdings plc (STX): 64/100 — Thin evidence · provisional; evidence 56% - Growth & earnings 21.5/35 | Capital efficiency 20.1/25 | Valuation 8.9/20 | Relative strength 13.1/20 - Price stage: FADING — Was leading by 5% or more four weeks ago and is not now. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 11 of the last 12 weeks - Exact sum: 21.5 + 20.1 + 8.9 + 13.1 = 63.6 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 4. Western Digital Corporation (WDC): 60/100 — Thin evidence · provisional; evidence 56% - Growth & earnings 21.0/35 | Capital efficiency 15.9/25 | Valuation 9.8/20 | Relative strength 13.2/20 - Price stage: LEADER — Ahead of the benchmark 13 weeks or more running, and ahead over the past year. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 12 of the last 12 weeks - Exact sum: 21 + 15.9 + 9.8 + 13.2 = 59.9 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 5. Arista Networks, Inc. (ANET): 54/100 — Mixed-positive evidence; evidence 66% - Growth & earnings 19.2/35 | Capital efficiency 15.3/25 | Valuation 6.9/20 | Relative strength 12.6/20 - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 9 of the last 12 weeks - Exact sum: 19.2 + 15.3 + 6.9 + 12.6 = 54 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 6. Logitech International S.A. (LOGI): 53/100 — Thin evidence · provisional; evidence 56% - Growth & earnings 19.6/35 | Capital efficiency 16.0/25 | Valuation 10.0/20 | Relative strength 7.5/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 6 of the last 12 weeks - Exact sum: 19.6 + 16 + 10 + 7.5 = 53.1 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 7. Super Micro Computer, Inc. (SMCI): 52/100 — Mixed-positive evidence; evidence 66% - Growth & earnings 20.4/35 | Capital efficiency 13.1/25 | Valuation 11.6/20 | Relative strength 6.7/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 4 of the last 12 weeks - Exact sum: 20.4 + 13.1 + 11.6 + 6.7 = 51.8 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 8. AstroNova, Inc. (ALOT): 51/100 — Thin evidence · provisional; evidence 58% - Growth & earnings 14.7/35 | Capital efficiency 9.7/25 | Valuation 9.6/20 | Relative strength 16.6/20 - Price stage: LEADER — Ahead of the benchmark 13 weeks or more running, and ahead over the past year. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 12 of the last 12 weeks - Exact sum: 14.7 + 9.7 + 9.6 + 16.6 = 50.6 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 9. HP Inc. (HPQ): 51/100 — Mixed-positive evidence; evidence 81% - Growth & earnings 10.7/35 | Capital efficiency 12.4/25 | Valuation 14.9/20 | Relative strength 12.5/20 - Price stage: BREAKING OUT — Ahead of the benchmark five weeks or more running, with its lead holding or widening. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 10 of the last 12 weeks - Exact sum: 10.7 + 12.4 + 14.9 + 12.5 = 50.5 - Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. 10. Everpure, Inc. (P): 49/100 — Mixed-negative evidence; evidence 64% - Growth & earnings 20.2/35 | Capital efficiency 9.9/25 | Valuation 8.5/20 | Relative strength 9.9/20 - Price stage: FADING — Was leading by 5% or more four weeks ago and is not now. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 5 of the last 12 weeks - Exact sum: 20.2 + 9.9 + 8.5 + 9.9 = 48.5 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 11. Cricut, Inc. (CRCT): 48/100 — Thin evidence · provisional; evidence 60% - Growth & earnings 13.5/35 | Capital efficiency 14.1/25 | Valuation 13.5/20 | Relative strength 6.6/20 - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 3 of the last 12 weeks - Exact sum: 13.5 + 14.1 + 13.5 + 6.6 = 47.7 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 12. Unusual Machines, Inc. (UMAC): 56/100 — Thin evidence · provisional; evidence 42% - Growth & earnings 22.4/35 | Capital efficiency 8.1/25 | Valuation 10.0/20 | Relative strength 15.2/20 - Price stage: LEADER — Ahead of the benchmark 13 weeks or more running, and ahead over the past year. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 12 of the last 12 weeks - Exact sum: 22.4 + 8.1 + 10 + 15.2 = 55.7 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 13. One Stop Systems, Inc. (OSS): 53/100 — Thin evidence · provisional; evidence 45% - Growth & earnings 19.9/35 | Capital efficiency 9.0/25 | Valuation 9.3/20 | Relative strength 14.7/20 - Price stage: FADING — Was leading by 5% or more four weeks ago and is not now. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 11 of the last 12 weeks - Exact sum: 19.9 + 9 + 9.3 + 14.7 = 52.9 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 14. 3D Systems Corporation (DDD): 52/100 — Thin evidence · provisional; evidence 45% - Growth & earnings 17.5/35 | Capital efficiency 9.0/25 | Valuation 11.1/20 | Relative strength 14.1/20 - Price stage: LEADER — Ahead of the benchmark 13 weeks or more running, and ahead over the past year. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 12 of the last 12 weeks - Exact sum: 17.5 + 9 + 11.1 + 14.1 = 51.7 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 15. Corsair Gaming, Inc. (CRSR): 51/100 — Thin evidence · provisional; evidence 45% - Growth & earnings 17.6/35 | Capital efficiency 10.4/25 | Valuation 8.7/20 | Relative strength 14.6/20 - Price stage: BREAKING OUT — Ahead of the benchmark five weeks or more running, with its lead holding or widening. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 12 of the last 12 weeks - Exact sum: 17.6 + 10.4 + 8.7 + 14.6 = 51.3 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 16. Virtuix Holdings Inc. (VTIX): 50/100 — Thin evidence · provisional; evidence 0% - Growth & earnings 17.5/35 | Capital efficiency 12.5/25 | Valuation 10.0/20 | Relative strength 10.0/20 - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of 8 weeks with a reading, within the last 12, ending 2026-07-10 (no longer priced) - Exact sum: 17.5 + 12.5 + 10 + 10 = 50 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 17. Braiin Limited (BRAI): 46/100 — Thin evidence · provisional; evidence 20% - Growth & earnings 13.4/35 | Capital efficiency 12.7/25 | Valuation 10.0/20 | Relative strength 10.0/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 1 of the last 12 weeks - Exact sum: 13.4 + 12.7 + 10 + 10 = 46.1 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 18. Quantum Corporation (QMCO): 46/100 — Thin evidence · provisional; evidence 42% - Growth & earnings 14.6/35 | Capital efficiency 9.6/25 | Valuation 10.0/20 | Relative strength 11.8/20 - Price stage: LEADER — Ahead of the benchmark 13 weeks or more running, and ahead over the past year. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 12 of the last 12 weeks - Exact sum: 14.6 + 9.6 + 10 + 11.8 = 46 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 19. Velo3D, Inc. (VELO): 46/100 — Thin evidence · provisional; evidence 45% - Growth & earnings 21.4/35 | Capital efficiency 6.9/25 | Valuation 10.4/20 | Relative strength 7.2/20 - Price stage: FADING — Was leading by 5% or more four weeks ago and is not now. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 8 of the last 12 weeks - Exact sum: 21.4 + 6.9 + 10.4 + 7.2 = 45.9 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 20. Bgin Blockchain Limited (BGIN): 45/100 — Thin evidence · provisional; evidence 15% - Growth & earnings 16.4/35 | Capital efficiency 8.5/25 | Valuation 10.0/20 | Relative strength 10.0/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 1 of the last 12 weeks - Exact sum: 16.4 + 8.5 + 10 + 10 = 44.9 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 21. AMC Robotics Corporation (AMCI): 45/100 — Thin evidence · provisional; evidence 33% - Growth & earnings 18.0/35 | Capital efficiency 13.1/25 | Valuation 10.0/20 | Relative strength 3.4/20 - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of 11 weeks with a reading, within the last 12 - Exact sum: 18 + 13.1 + 10 + 3.4 = 44.5 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 22. Quantum Computing Inc. (QUBT): 44/100 — Thin evidence · provisional; evidence 44% - Growth & earnings 19.5/35 | Capital efficiency 8.2/25 | Valuation 10.0/20 | Relative strength 6.0/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 8 of the last 12 weeks - Exact sum: 19.5 + 8.2 + 10 + 6 = 43.7 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 23. IonQ, Inc. (IONQ): 42/100 — Thin evidence · provisional; evidence 48% - Growth & earnings 21.6/35 | Capital efficiency 7.3/25 | Valuation 10.0/20 | Relative strength 2.7/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 8 of the last 12 weeks - Exact sum: 21.6 + 7.3 + 10 + 2.7 = 41.6 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 24. Rigetti Computing, Inc. (RGTI): 41/100 — Thin evidence · provisional; evidence 48% - Growth & earnings 21.1/35 | Capital efficiency 7.5/25 | Valuation 10.0/20 | Relative strength 2.5/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 7 of the last 12 weeks - Exact sum: 21.1 + 7.5 + 10 + 2.5 = 41.1 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 25. Nano Dimension Ltd. (NNDM): 41/100 — Thin evidence · provisional; evidence 42% - Growth & earnings 18.2/35 | Capital efficiency 6.8/25 | Valuation 10.0/20 | Relative strength 6.0/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks - Exact sum: 18.2 + 6.8 + 10 + 6 = 41 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 26. Stratasys Ltd. (SSYS): 38/100 — Thin evidence · provisional; evidence 48% - Growth & earnings 12.2/35 | Capital efficiency 8.2/25 | Valuation 10.0/20 | Relative strength 7.6/20 - Price stage: BASING — Behind the benchmark by 5% or more over the past year and still not ahead, but no longer falling further behind. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks - Exact sum: 12.2 + 8.2 + 10 + 7.6 = 38 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 27. Draganfly Inc. (DPRO): 38/100 — Thin evidence · provisional; evidence 45% - Growth & earnings 16.3/35 | Capital efficiency 6.2/25 | Valuation 11.5/20 | Relative strength 3.7/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks - Exact sum: 16.3 + 6.2 + 11.5 + 3.7 = 37.7 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 28. Canaan Inc. (CAN): 37/100 — Thin evidence · provisional; evidence 45% - Growth & earnings 15.1/35 | Capital efficiency 7.2/25 | Valuation 11.3/20 | Relative strength 3.0/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks - Exact sum: 15.1 + 7.2 + 11.3 + 3 = 36.6 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 29. D-Wave Quantum Inc. (QBTS): 35/100 — Thin evidence · provisional; evidence 45% - Growth & earnings 11.8/35 | Capital efficiency 8.0/25 | Valuation 10.0/20 | Relative strength 5.2/20 - Price stage: FADING — Was leading by 5% or more four weeks ago and is not now. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 8 of the last 12 weeks - Exact sum: 11.8 + 8 + 10 + 5.2 = 35 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. ## Market action Sandisk Corporation has the strongest one-year price move in Computer Hardware at +3119.7%. Dell Technologies Inc. leads on Mansfield relative strength against the S&P 500 at +106.8%. 13 of 26 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-08-04. ### Strongest one-year price performers 1. Sandisk Corporation (SNDK): 3,120% 2. Western Digital Corporation (WDC): 632% 3. Seagate Technology Holdings plc (STX): 462% 4. Dell Technologies Inc. (DELL): 240% 5. Unusual Machines, Inc. (UMAC): 164% ### Strongest relative strength versus NIFTY 500 1. Dell Technologies Inc. (DELL): 107% 2. AstroNova, Inc. (ALOT): 99% 3. Sandisk Corporation (SNDK): 82% 4. Western Digital Corporation (WDC): 71% 5. Seagate Technology Holdings plc (STX): 66% ## Revenue Scale & Growth Durability What the numbers say: Dell Technologies Inc. is the scale leader at $134,002 million, 133.4% ahead of HP Inc.. IonQ, Inc.'s growth is stored at the ≥100% scoring cap; the uncapped TTM change is 337.2% from a $188 million base, with 18 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale. Investor read: Dell Technologies Inc. is the scale benchmark; IonQ, Inc. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns. This conclusion weakens if: Dell Technologies Inc.'s growth falls below IonQ, Inc.'s for two consecutive comparable reports while operating margin also compresses. Evidence: Dell Technologies Inc. · $134,002 million | 133.4% versus #2 · HP Inc. | 8/8 recent comparable periods | 21/29 companies · 450 observations Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress. ### Revenue — largest 1. Dell Technologies Inc. (DELL): ₹1.3 L Cr 2. HP Inc. (HPQ): ₹57.4K Cr 3. Super Micro Computer, Inc. (SMCI): ₹33.7K Cr — older report 4. Arista Networks, Inc. (ANET): ₹9.7K Cr — older report 5. Everpure, Inc. (P): ₹3.9K Cr ### Revenue growth — fastest growers 1. IonQ, Inc. (IONQ): 100% — older report 2. Nano Dimension Ltd. (NNDM): 100% — older report 3. Unusual Machines, Inc. (UMAC): 100% — older report 4. Canaan Inc. (CAN): 60% — older report 5. Super Micro Computer, Inc. (SMCI): 56% — older report ### 20-quarter Revenue history - DELL: Dec 2021 ₹26.4K Cr | Mar 2022 ₹28.0K Cr | Jun 2022 ₹26.1K Cr | Sep 2022 ₹26.4K Cr | Dec 2022 ₹24.7K Cr | Mar 2023 ₹25.0K Cr | Jun 2023 ₹20.9K Cr | Sep 2023 ₹22.9K Cr | Dec 2023 ₹22.3K Cr | Mar 2024 ₹22.3K Cr | Jun 2024 ₹22.2K Cr | Sep 2024 ₹25.0K Cr | Dec 2024 ₹24.4K Cr | Mar 2025 ₹23.9K Cr | Jun 2025 ₹23.4K Cr | Sep 2025 ₹29.8K Cr | Dec 2025 ₹27.0K Cr | Mar 2026 ₹33.4K Cr | Jun 2026 ₹43.8K Cr | Sep 2026 — - ANET: Dec 2021 ₹824 Cr | Mar 2022 ₹877 Cr | Jun 2022 ₹1.1K Cr | Sep 2022 ₹1.2K Cr | Dec 2022 ₹1.3K Cr | Mar 2023 ₹1.4K Cr | Jun 2023 ₹1.5K Cr | Sep 2023 ₹1.5K Cr | Dec 2023 ₹1.5K Cr | Mar 2024 ₹1.6K Cr | Jun 2024 ₹1.7K Cr | Sep 2024 ₹1.8K Cr | Dec 2024 ₹1.9K Cr | Mar 2025 ₹2.0K Cr | Jun 2025 ₹2.2K Cr | Sep 2025 ₹2.3K Cr | Dec 2025 ₹2.5K Cr | Mar 2026 ₹2.7K Cr | Jun 2026 — | Sep 2026 — - SNDK: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 ₹1.3K Cr | Jun 2023 ₹1.4K Cr | Sep 2023 ₹1.5K Cr | Dec 2023 ₹1.7K Cr | Mar 2024 ₹1.7K Cr | Jun 2024 ₹1.8K Cr | Sep 2024 ₹1.9K Cr | Dec 2024 ₹1.9K Cr | Mar 2025 ₹1.7K Cr | Jun 2025 ₹1.9K Cr | Sep 2025 — | Dec 2025 ₹2.3K Cr | Mar 2026 ₹3.0K Cr | Jun 2026 ₹6.0K Cr | Sep 2026 — - STX: Dec 2021 ₹3.1K Cr | Mar 2022 — | Jun 2022 ₹2.8K Cr | Sep 2022 ₹2.6K Cr | Dec 2022 ₹1.9K Cr | Mar 2023 ₹1.9K Cr | Jun 2023 ₹1.6K Cr | Sep 2023 ₹1.5K Cr | Dec 2023 ₹1.6K Cr | Mar 2024 ₹1.7K Cr | Jun 2024 ₹1.9K Cr | Sep 2024 ₹2.2K Cr | Dec 2024 ₹2.3K Cr | Mar 2025 ₹2.2K Cr | Jun 2025 ₹2.4K Cr | Sep 2025 — | Dec 2025 ₹2.6K Cr | Mar 2026 ₹2.8K Cr | Jun 2026 ₹3.1K Cr | Sep 2026 — - WDC: Dec 2021 ₹5.1K Cr | Mar 2022 — | Jun 2022 ₹4.4K Cr | Sep 2022 ₹4.5K Cr | Dec 2022 ₹3.1K Cr | Mar 2023 ₹2.8K Cr | Jun 2023 ₹2.7K Cr | Sep 2023 ₹2.8K Cr | Dec 2023 ₹3.0K Cr | Mar 2024 ₹1.8K Cr | Jun 2024 ₹2.0K Cr | Sep 2024 ₹2.2K Cr | Dec 2024 ₹2.4K Cr | Mar 2025 ₹2.3K Cr | Jun 2025 ₹2.6K Cr | Sep 2025 — | Dec 2025 ₹2.8K Cr | Mar 2026 ₹3.0K Cr | Jun 2026 ₹3.3K Cr | Sep 2026 — - P: Dec 2021 ₹563 Cr | Mar 2022 ₹709 Cr | Jun 2022 ₹620 Cr | Sep 2022 ₹647 Cr | Dec 2022 ₹676 Cr | Mar 2023 ₹810 Cr | Jun 2023 ₹589 Cr | Sep 2023 ₹689 Cr | Dec 2023 ₹763 Cr | Mar 2024 ₹790 Cr | Jun 2024 ₹693 Cr | Sep 2024 ₹764 Cr | Dec 2024 ₹831 Cr | Mar 2025 ₹880 Cr | Jun 2025 ₹778 Cr | Sep 2025 ₹861 Cr | Dec 2025 ₹964 Cr | Mar 2026 ₹1.1K Cr | Jun 2026 ₹1.1K Cr | Sep 2026 — - HPQ: Dec 2021 ₹16.6K Cr | Mar 2022 ₹17.0K Cr | Jun 2022 ₹16.5K Cr | Sep 2022 ₹14.6K Cr | Dec 2022 ₹14.8K Cr | Mar 2023 ₹13.8K Cr | Jun 2023 ₹12.9K Cr | Sep 2023 ₹13.2K Cr | Dec 2023 ₹13.8K Cr | Mar 2024 ₹13.2K Cr | Jun 2024 ₹12.8K Cr | Sep 2024 ₹13.5K Cr | Dec 2024 ₹14.1K Cr | Mar 2025 ₹13.5K Cr | Jun 2025 ₹13.2K Cr | Sep 2025 ₹13.9K Cr | Dec 2025 ₹14.6K Cr | Mar 2026 ₹14.4K Cr | Jun 2026 ₹14.4K Cr | Sep 2026 — - SMCI: Dec 2021 ₹1.2K Cr | Mar 2022 ₹1.4K Cr | Jun 2022 ₹1.6K Cr | Sep 2022 ₹1.9K Cr | Dec 2022 ₹1.8K Cr | Mar 2023 ₹1.3K Cr | Jun 2023 ₹2.2K Cr | Sep 2023 ₹2.1K Cr | Dec 2023 ₹3.7K Cr | Mar 2024 ₹3.9K Cr | Jun 2024 ₹5.4K Cr | Sep 2024 ₹5.9K Cr | Dec 2024 ₹5.7K Cr | Mar 2025 ₹4.6K Cr | Jun 2025 ₹5.8K Cr | Sep 2025 ₹5.0K Cr | Dec 2025 ₹12.7K Cr | Mar 2026 ₹10.2K Cr | Jun 2026 — | Sep 2026 — - IONQ: Dec 2021 ₹2 Cr | Mar 2022 ₹2 Cr | Jun 2022 ₹3 Cr | Sep 2022 ₹3 Cr | Dec 2022 ₹4 Cr | Mar 2023 ₹4 Cr | Jun 2023 ₹6 Cr | Sep 2023 ₹6 Cr | Dec 2023 ₹6 Cr | Mar 2024 ₹8 Cr | Jun 2024 ₹11 Cr | Sep 2024 ₹12 Cr | Dec 2024 ₹12 Cr | Mar 2025 ₹8 Cr | Jun 2025 ₹21 Cr | Sep 2025 ₹40 Cr | Dec 2025 ₹62 Cr | Mar 2026 ₹65 Cr | Jun 2026 — | Sep 2026 — - LOGI: Dec 2021 ₹1.6K Cr | Mar 2022 ₹1.2K Cr | Jun 2022 ₹1.2K Cr | Sep 2022 ₹1.1K Cr | Dec 2022 ₹1.3K Cr | Mar 2023 ₹960 Cr | Jun 2023 ₹974 Cr | Sep 2023 ₹1.1K Cr | Dec 2023 ₹1.3K Cr | Mar 2024 ₹1.0K Cr | Jun 2024 ₹1.1K Cr | Sep 2024 ₹1.1K Cr | Dec 2024 ₹1.3K Cr | Mar 2025 ₹1.0K Cr | Jun 2025 ₹1.1K Cr | Sep 2025 ₹1.2K Cr | Dec 2025 ₹1.4K Cr | Mar 2026 ₹1.1K Cr | Jun 2026 — | Sep 2026 — - QBTS: Dec 2021 ₹2 Cr | Mar 2022 ₹2 Cr | Jun 2022 ₹1 Cr | Sep 2022 ₹2 Cr | Dec 2022 ₹2 Cr | Mar 2023 ₹2 Cr | Jun 2023 ₹2 Cr | Sep 2023 ₹3 Cr | Dec 2023 ₹3 Cr | Mar 2024 ₹2 Cr | Jun 2024 ₹2 Cr | Sep 2024 ₹2 Cr | Dec 2024 ₹2 Cr | Mar 2025 ₹15 Cr | Jun 2025 ₹3 Cr | Sep 2025 ₹4 Cr | Dec 2025 ₹3 Cr | Mar 2026 ₹3 Cr | Jun 2026 — | Sep 2026 — - RGTI: Dec 2021 ₹2 Cr | Mar 2022 ₹2 Cr | Jun 2022 ₹2 Cr | Sep 2022 ₹3 Cr | Dec 2022 ₹6 Cr | Mar 2023 ₹2 Cr | Jun 2023 ₹3 Cr | Sep 2023 ₹3 Cr | Dec 2023 ₹3 Cr | Mar 2024 ₹3 Cr | Jun 2024 ₹3 Cr | Sep 2024 ₹2 Cr | Dec 2024 ₹2 Cr | Mar 2025 ₹1 Cr | Jun 2025 ₹2 Cr | Sep 2025 ₹2 Cr | Dec 2025 ₹2 Cr | Mar 2026 ₹4 Cr | Jun 2026 — | Sep 2026 — - QUBT: Dec 2021 — | Mar 2022 ₹0 Cr | Jun 2022 ₹0 Cr | Sep 2022 ₹0 Cr | Dec 2022 ₹0 Cr | Mar 2023 ₹0 Cr | Jun 2023 ₹0 Cr | Sep 2023 ₹0 Cr | Dec 2023 ₹0 Cr | Mar 2024 ₹0 Cr | Jun 2024 ₹0 Cr | Sep 2024 ₹0 Cr | Dec 2024 ₹0 Cr | Mar 2025 ₹0 Cr | Jun 2025 ₹0 Cr | Sep 2025 ₹0 Cr | Dec 2025 ₹0 Cr | Mar 2026 ₹4 Cr | Jun 2026 — | Sep 2026 — - UMAC: Dec 2021 ₹0 Cr | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 ₹1 Cr | Jun 2024 ₹1 Cr | Sep 2024 ₹2 Cr | Dec 2024 ₹2 Cr | Mar 2025 ₹2 Cr | Jun 2025 ₹2 Cr | Sep 2025 ₹2 Cr | Dec 2025 ₹5 Cr | Mar 2026 ₹8 Cr | Jun 2026 — | Sep 2026 — - CRSR: Dec 2021 ₹511 Cr | Mar 2022 ₹381 Cr | Jun 2022 ₹284 Cr | Sep 2022 ₹312 Cr | Dec 2022 ₹399 Cr | Mar 2023 ₹354 Cr | Jun 2023 ₹325 Cr | Sep 2023 ₹363 Cr | Dec 2023 ₹417 Cr | Mar 2024 ₹337 Cr | Jun 2024 ₹261 Cr | Sep 2024 ₹304 Cr | Dec 2024 ₹414 Cr | Mar 2025 ₹370 Cr | Jun 2025 ₹320 Cr | Sep 2025 ₹346 Cr | Dec 2025 ₹437 Cr | Mar 2026 ₹355 Cr | Jun 2026 — | Sep 2026 — - CRCT: Dec 2021 ₹388 Cr | Mar 2022 ₹245 Cr | Jun 2022 ₹184 Cr | Sep 2022 ₹177 Cr | Dec 2022 ₹281 Cr | Mar 2023 ₹181 Cr | Jun 2023 ₹178 Cr | Sep 2023 ₹175 Cr | Dec 2023 ₹231 Cr | Mar 2024 ₹167 Cr | Jun 2024 ₹168 Cr | Sep 2024 ₹168 Cr | Dec 2024 ₹209 Cr | Mar 2025 ₹163 Cr | Jun 2025 ₹172 Cr | Sep 2025 ₹170 Cr | Dec 2025 ₹204 Cr | Mar 2026 ₹159 Cr | Jun 2026 — | Sep 2026 — - SSYS: Dec 2021 ₹167 Cr | Mar 2022 ₹163 Cr | Jun 2022 ₹167 Cr | Sep 2022 ₹162 Cr | Dec 2022 ₹159 Cr | Mar 2023 ₹149 Cr | Jun 2023 ₹160 Cr | Sep 2023 ₹162 Cr | Dec 2023 ₹156 Cr | Mar 2024 ₹144 Cr | Jun 2024 ₹138 Cr | Sep 2024 ₹140 Cr | Dec 2024 ₹150 Cr | Mar 2025 ₹136 Cr | Jun 2025 ₹138 Cr | Sep 2025 ₹137 Cr | Dec 2025 ₹140 Cr | Mar 2026 ₹133 Cr | Jun 2026 — | Sep 2026 — - DDD: Dec 2021 ₹151 Cr | Mar 2022 ₹133 Cr | Jun 2022 ₹140 Cr | Sep 2022 ₹132 Cr | Dec 2022 ₹133 Cr | Mar 2023 ₹121 Cr | Jun 2023 ₹128 Cr | Sep 2023 ₹124 Cr | Dec 2023 ₹115 Cr | Mar 2024 ₹103 Cr | Jun 2024 ₹113 Cr | Sep 2024 ₹113 Cr | Dec 2024 ₹111 Cr | Mar 2025 ₹95 Cr | Jun 2025 ₹95 Cr | Sep 2025 ₹91 Cr | Dec 2025 ₹106 Cr | Mar 2026 ₹96 Cr | Jun 2026 — | Sep 2026 — - QMCO: Dec 2021 ₹95 Cr | Mar 2022 ₹106 Cr | Jun 2022 ₹97 Cr | Sep 2022 ₹101 Cr | Dec 2022 ₹113 Cr | Mar 2023 ₹109 Cr | Jun 2023 ₹92 Cr | Sep 2023 ₹76 Cr | Dec 2023 ₹72 Cr | Mar 2024 ₹72 Cr | Jun 2024 ₹72 Cr | Sep 2024 ₹72 Cr | Dec 2024 ₹69 Cr | Mar 2025 ₹61 Cr | Jun 2025 ₹64 Cr | Sep 2025 ₹63 Cr | Dec 2025 ₹75 Cr | Mar 2026 ₹78 Cr | Jun 2026 — | Sep 2026 — - VELO: Dec 2021 ₹10 Cr | Mar 2022 ₹12 Cr | Jun 2022 ₹20 Cr | Sep 2022 ₹19 Cr | Dec 2022 ₹28 Cr | Mar 2023 ₹27 Cr | Jun 2023 ₹25 Cr | Sep 2023 ₹23 Cr | Dec 2023 ₹2 Cr | Mar 2024 ₹10 Cr | Jun 2024 ₹10 Cr | Sep 2024 ₹8 Cr | Dec 2024 ₹13 Cr | Mar 2025 ₹9 Cr | Jun 2025 ₹14 Cr | Sep 2025 ₹14 Cr | Dec 2025 ₹9 Cr | Mar 2026 ₹14 Cr | Jun 2026 — | Sep 2026 — - OSS: Dec 2021 ₹18 Cr | Mar 2022 ₹17 Cr | Jun 2022 ₹18 Cr | Sep 2022 ₹19 Cr | Dec 2022 ₹18 Cr | Mar 2023 ₹17 Cr | Jun 2023 ₹17 Cr | Sep 2023 ₹14 Cr | Dec 2023 ₹13 Cr | Mar 2024 ₹13 Cr | Jun 2024 ₹13 Cr | Sep 2024 ₹14 Cr | Dec 2024 ₹15 Cr | Mar 2025 ₹5 Cr | Jun 2025 ₹14 Cr | Sep 2025 ₹19 Cr | Dec 2025 ₹12 Cr | Mar 2026 ₹8 Cr | Jun 2026 — | Sep 2026 — - NNDM: Dec 2021 ₹8 Cr | Mar 2022 ₹10 Cr | Jun 2022 ₹11 Cr | Sep 2022 ₹10 Cr | Dec 2022 ₹12 Cr | Mar 2023 ₹15 Cr | Jun 2023 ₹15 Cr | Sep 2023 ₹12 Cr | Dec 2023 ₹14 Cr | Mar 2024 ₹13 Cr | Jun 2024 ₹15 Cr | Sep 2024 ₹15 Cr | Dec 2024 ₹15 Cr | Mar 2025 ₹14 Cr | Jun 2025 ₹26 Cr | Sep 2025 ₹27 Cr | Dec 2025 ₹35 Cr | Mar 2026 ₹30 Cr | Jun 2026 — | Sep 2026 — - ALOT: Dec 2021 ₹29 Cr | Mar 2022 ₹30 Cr | Jun 2022 ₹31 Cr | Sep 2022 ₹32 Cr | Dec 2022 ₹39 Cr | Mar 2023 ₹40 Cr | Jun 2023 ₹35 Cr | Sep 2023 ₹36 Cr | Dec 2023 ₹38 Cr | Mar 2024 ₹40 Cr | Jun 2024 ₹33 Cr | Sep 2024 ₹41 Cr | Dec 2024 ₹40 Cr | Mar 2025 ₹37 Cr | Jun 2025 ₹38 Cr | Sep 2025 ₹36 Cr | Dec 2025 ₹39 Cr | Mar 2026 ₹38 Cr | Jun 2026 ₹39 Cr | Sep 2026 — - BGIN: Dec 2021 ₹10 Cr | Mar 2022 — | Jun 2022 ₹11 Cr | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 ₹10 Cr | Sep 2023 — | Dec 2023 ₹248 Cr | Mar 2024 — | Jun 2024 ₹144 Cr | Sep 2024 — | Dec 2024 ₹158 Cr | Mar 2025 — | Jun 2025 ₹48 Cr | Sep 2025 — | Dec 2025 ₹20 Cr | Mar 2026 — | Jun 2026 — | Sep 2026 — - DPRO: Dec 2021 ₹2 Cr | Mar 2022 ₹2 Cr | Jun 2022 ₹2 Cr | Sep 2022 ₹2 Cr | Dec 2022 ₹1 Cr | Mar 2023 ₹2 Cr | Jun 2023 ₹2 Cr | Sep 2023 ₹2 Cr | Dec 2023 ₹1 Cr | Mar 2024 ₹1 Cr | Jun 2024 ₹2 Cr | Sep 2024 ₹2 Cr | Dec 2024 ₹2 Cr | Mar 2025 ₹2 Cr | Jun 2025 ₹2 Cr | Sep 2025 ₹2 Cr | Dec 2025 ₹2 Cr | Mar 2026 ₹2 Cr | Jun 2026 — | Sep 2026 — - CAN: Dec 2021 ₹344 Cr | Mar 2022 ₹214 Cr | Jun 2022 ₹247 Cr | Sep 2022 ₹146 Cr | Dec 2022 ₹57 Cr | Mar 2023 ₹55 Cr | Jun 2023 ₹74 Cr | Sep 2023 ₹33 Cr | Dec 2023 ₹49 Cr | Mar 2024 ₹35 Cr | Jun 2024 ₹72 Cr | Sep 2024 ₹74 Cr | Dec 2024 ₹89 Cr | Mar 2025 ₹83 Cr | Jun 2025 ₹100 Cr | Sep 2025 ₹150 Cr | Dec 2025 ₹196 Cr | Mar 2026 ₹63 Cr | Jun 2026 — | Sep 2026 — - AMCI: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 ₹3 Cr | Dec 2024 ₹2 Cr | Mar 2025 — | Jun 2025 — | Sep 2025 ₹1 Cr | Dec 2025 ₹1 Cr | Mar 2026 — | Jun 2026 — | Sep 2026 — ### 20-quarter Revenue growth history - DELL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 9.2% | Dec 2022 -6.4% | Mar 2023 -11% | Jun 2023 -20% | Sep 2023 -13% | Dec 2023 -10.0% | Mar 2024 -11% | Jun 2024 6.3% | Sep 2024 9.1% | Dec 2024 9.5% | Mar 2025 7.2% | Jun 2025 5.1% | Sep 2025 19% | Dec 2025 11% | Mar 2026 39% | Jun 2026 88% | Sep 2026 — - ANET: Dec 2021 — | Mar 2022 — | Jun 2022 49% | Sep 2022 57% | Dec 2022 55% | Mar 2023 54% | Jun 2023 39% | Sep 2023 28% | Dec 2023 21% | Mar 2024 16% | Jun 2024 16% | Sep 2024 20% | Dec 2024 25% | Mar 2025 28% | Jun 2025 30% | Sep 2025 27% | Dec 2025 29% | Mar 2026 35% | Jun 2026 — | Sep 2026 — - SNDK: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 30% | Jun 2024 26% | Sep 2024 23% | Dec 2024 13% | Mar 2025 -0.6% | Jun 2025 8.0% | Sep 2025 — | Dec 2025 23% | Mar 2026 78% | Jun 2026 213% | Sep 2026 — - STX: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -13% | Dec 2022 -39% | Mar 2023 — | Jun 2023 -43% | Sep 2023 -45% | Dec 2023 -18% | Mar 2024 -11% | Jun 2024 18% | Sep 2024 49% | Dec 2024 50% | Mar 2025 31% | Jun 2025 30% | Sep 2025 — | Dec 2025 13% | Mar 2026 31% | Jun 2026 27% | Sep 2026 — - WDC: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -8.0% | Dec 2022 -38% | Mar 2023 — | Jun 2023 -39% | Sep 2023 -39% | Dec 2023 -2.4% | Mar 2024 -38% | Jun 2024 -25% | Sep 2024 -20% | Dec 2024 -21% | Mar 2025 31% | Jun 2025 30% | Sep 2025 — | Dec 2025 17% | Mar 2026 32% | Jun 2026 28% | Sep 2026 — - P: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 30% | Dec 2022 20% | Mar 2023 14% | Jun 2023 -5.0% | Sep 2023 6.5% | Dec 2023 13% | Mar 2024 -2.5% | Jun 2024 18% | Sep 2024 11% | Dec 2024 8.9% | Mar 2025 11% | Jun 2025 12% | Sep 2025 13% | Dec 2025 16% | Mar 2026 20% | Jun 2026 35% | Sep 2026 — - HPQ: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -4.2% | Dec 2022 -11% | Mar 2023 -19% | Jun 2023 -22% | Sep 2023 -9.9% | Dec 2023 -6.5% | Mar 2024 -4.4% | Jun 2024 -0.8% | Sep 2024 2.5% | Dec 2024 1.7% | Mar 2025 2.4% | Jun 2025 3.3% | Sep 2025 3.1% | Dec 2025 4.2% | Mar 2026 6.9% | Jun 2026 9.0% | Sep 2026 — - SMCI: Dec 2021 — | Mar 2022 — | Jun 2022 53% | Sep 2022 79% | Dec 2022 54% | Mar 2023 -5.3% | Jun 2023 34% | Sep 2023 14% | Dec 2023 103% | Mar 2024 200% | Jun 2024 145% | Sep 2024 180% | Dec 2024 55% | Mar 2025 19% | Jun 2025 7.5% | Sep 2025 -15% | Dec 2025 123% | Mar 2026 123% | Jun 2026 — | Sep 2026 — - IONQ: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 100% | Mar 2023 100% | Jun 2023 100% | Sep 2023 100% | Dec 2023 50% | Mar 2024 100% | Jun 2024 83% | Sep 2024 100% | Dec 2024 100% | Mar 2025 0.0% | Jun 2025 91% | Sep 2025 233% | Dec 2025 417% | Mar 2026 713% | Jun 2026 — | Sep 2026 — - LOGI: Dec 2021 — | Mar 2022 — | Jun 2022 -12% | Sep 2022 -12% | Dec 2022 -22% | Mar 2023 -22% | Jun 2023 -16% | Sep 2023 -8.0% | Dec 2023 -1.2% | Mar 2024 5.3% | Jun 2024 12% | Sep 2024 5.6% | Dec 2024 6.8% | Mar 2025 -0.1% | Jun 2025 5.5% | Sep 2025 6.3% | Dec 2025 6.0% | Mar 2026 7.5% | Jun 2026 — | Sep 2026 — - QBTS: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 100% | Dec 2022 0.0% | Mar 2023 0.0% | Jun 2023 100% | Sep 2023 50% | Dec 2023 50% | Mar 2024 0.0% | Jun 2024 0.0% | Sep 2024 -33% | Dec 2024 -33% | Mar 2025 650% | Jun 2025 50% | Sep 2025 100% | Dec 2025 50% | Mar 2026 -80% | Jun 2026 — | Sep 2026 — - RGTI: Dec 2021 — | Mar 2022 — | Jun 2022 0.0% | Sep 2022 0.0% | Dec 2022 200% | Mar 2023 0.0% | Jun 2023 50% | Sep 2023 0.0% | Dec 2023 -50% | Mar 2024 50% | Jun 2024 0.0% | Sep 2024 -33% | Dec 2024 -33% | Mar 2025 -67% | Jun 2025 -33% | Sep 2025 0.0% | Dec 2025 0.0% | Mar 2026 300% | Jun 2026 — | Sep 2026 — - UMAC: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 100% | Jun 2025 100% | Sep 2025 0.0% | Dec 2025 150% | Mar 2026 300% | Jun 2026 — | Sep 2026 — - CRSR: Dec 2021 — | Mar 2022 — | Jun 2022 -40% | Sep 2022 -20% | Dec 2022 -22% | Mar 2023 -7.1% | Jun 2023 14% | Sep 2023 16% | Dec 2023 4.5% | Mar 2024 -4.8% | Jun 2024 -20% | Sep 2024 -16% | Dec 2024 -0.7% | Mar 2025 9.8% | Jun 2025 23% | Sep 2025 14% | Dec 2025 5.6% | Mar 2026 -4.1% | Jun 2026 — | Sep 2026 — - CRCT: Dec 2021 — | Mar 2022 — | Jun 2022 -45% | Sep 2022 -32% | Dec 2022 -28% | Mar 2023 -26% | Jun 2023 -3.3% | Sep 2023 -1.1% | Dec 2023 -18% | Mar 2024 -7.7% | Jun 2024 -5.6% | Sep 2024 -4.0% | Dec 2024 -9.5% | Mar 2025 -2.4% | Jun 2025 2.4% | Sep 2025 1.2% | Dec 2025 -2.4% | Mar 2026 -2.5% | Jun 2026 — | Sep 2026 — - SSYS: Dec 2021 — | Mar 2022 — | Jun 2022 14% | Sep 2022 1.9% | Dec 2022 -4.8% | Mar 2023 -8.6% | Jun 2023 -4.2% | Sep 2023 0.0% | Dec 2023 -1.9% | Mar 2024 -3.4% | Jun 2024 -14% | Sep 2024 -14% | Dec 2024 -3.9% | Mar 2025 -5.6% | Jun 2025 0.0% | Sep 2025 -2.1% | Dec 2025 -6.7% | Mar 2026 -2.2% | Jun 2026 — | Sep 2026 — - DDD: Dec 2021 — | Mar 2022 — | Jun 2022 -14% | Sep 2022 -15% | Dec 2022 -12% | Mar 2023 -9.0% | Jun 2023 -8.6% | Sep 2023 -6.1% | Dec 2023 -14% | Mar 2024 -15% | Jun 2024 -12% | Sep 2024 -8.9% | Dec 2024 -3.5% | Mar 2025 -7.8% | Jun 2025 -16% | Sep 2025 -19% | Dec 2025 -4.5% | Mar 2026 1.1% | Jun 2026 — | Sep 2026 — - QMCO: Dec 2021 — | Mar 2022 — | Jun 2022 9.0% | Sep 2022 8.6% | Dec 2022 19% | Mar 2023 2.8% | Jun 2023 -5.2% | Sep 2023 -25% | Dec 2023 -36% | Mar 2024 -34% | Jun 2024 -22% | Sep 2024 -5.3% | Dec 2024 -4.2% | Mar 2025 -15% | Jun 2025 -11% | Sep 2025 -13% | Dec 2025 8.7% | Mar 2026 28% | Jun 2026 — | Sep 2026 — - VELO: Dec 2021 — | Mar 2022 — | Jun 2022 186% | Sep 2022 111% | Dec 2022 180% | Mar 2023 125% | Jun 2023 25% | Sep 2023 21% | Dec 2023 -93% | Mar 2024 -63% | Jun 2024 -60% | Sep 2024 -65% | Dec 2024 550% | Mar 2025 -10% | Jun 2025 40% | Sep 2025 75% | Dec 2025 -31% | Mar 2026 56% | Jun 2026 — | Sep 2026 — - OSS: Dec 2021 — | Mar 2022 — | Jun 2022 20% | Sep 2022 19% | Dec 2022 0.0% | Mar 2023 0.0% | Jun 2023 -5.6% | Sep 2023 -26% | Dec 2023 -28% | Mar 2024 -24% | Jun 2024 -24% | Sep 2024 0.0% | Dec 2024 15% | Mar 2025 -62% | Jun 2025 7.7% | Sep 2025 36% | Dec 2025 -20% | Mar 2026 60% | Jun 2026 — | Sep 2026 — - NNDM: Dec 2021 — | Mar 2022 — | Jun 2022 1,000% | Sep 2022 900% | Dec 2022 50% | Mar 2023 50% | Jun 2023 36% | Sep 2023 20% | Dec 2023 17% | Mar 2024 -13% | Jun 2024 0.0% | Sep 2024 25% | Dec 2024 7.1% | Mar 2025 7.7% | Jun 2025 73% | Sep 2025 80% | Dec 2025 133% | Mar 2026 114% | Jun 2026 — | Sep 2026 — - ALOT: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 6.7% | Dec 2022 34% | Mar 2023 33% | Jun 2023 13% | Sep 2023 13% | Dec 2023 -2.6% | Mar 2024 0.0% | Jun 2024 -5.7% | Sep 2024 14% | Dec 2024 5.3% | Mar 2025 -7.5% | Jun 2025 15% | Sep 2025 -12% | Dec 2025 -2.5% | Mar 2026 2.7% | Jun 2026 2.6% | Sep 2026 — - BGIN: Dec 2021 — | Mar 2022 — | Jun 2022 -8.3% | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 -9.1% | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 1,340% | Sep 2024 — | Dec 2024 -36% | Mar 2025 — | Jun 2025 -67% | Sep 2025 — | Dec 2025 -87% | Mar 2026 — | Jun 2026 — | Sep 2026 — - DPRO: Dec 2021 — | Mar 2022 — | Jun 2022 0.0% | Sep 2022 0.0% | Dec 2022 -50% | Mar 2023 0.0% | Jun 2023 0.0% | Sep 2023 0.0% | Dec 2023 0.0% | Mar 2024 -50% | Jun 2024 0.0% | Sep 2024 0.0% | Dec 2024 100% | Mar 2025 100% | Jun 2025 0.0% | Sep 2025 0.0% | Dec 2025 0.0% | Mar 2026 0.0% | Jun 2026 — | Sep 2026 — - CAN: Dec 2021 — | Mar 2022 — | Jun 2022 47% | Sep 2022 -28% | Dec 2022 -83% | Mar 2023 -74% | Jun 2023 -70% | Sep 2023 -77% | Dec 2023 -14% | Mar 2024 -36% | Jun 2024 -2.7% | Sep 2024 124% | Dec 2024 82% | Mar 2025 137% | Jun 2025 39% | Sep 2025 103% | Dec 2025 120% | Mar 2026 -24% | Jun 2026 — | Sep 2026 — - AMCI: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 -67% | Dec 2025 -50% | Mar 2026 — | Jun 2026 — | Sep 2026 — ## Operating Economics & Margin Trend What the numbers say: Sandisk Corporation leads opm at 69.1%; Quantum Computing Inc. leads margin change at +20689.4 percentage points. Investor read: Sandisk Corporation sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it. This conclusion weakens if: The next two comparable reports reverse the current margin change signal. Evidence: Sandisk Corporation · 69.1% | 61.8% versus #2 · Arista Networks, Inc. | 5/8 recent comparable periods | 25/29 companies · 409 observations Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth. ### OPM — highest 1. Sandisk Corporation (SNDK): 69% 2. Arista Networks, Inc. (ANET): 43% — older report 3. Western Digital Corporation (WDC): 36% 4. Seagate Technology Holdings plc (STX): 32% 5. AMC Robotics Corporation (AMCI): 23% — older report ### Margin change — fastest expanders 1. Quantum Computing Inc. (QUBT): +20,689.4 pp — older report 2. Rigetti Computing, Inc. (RGTI): +879.8 pp — older report 3. IonQ, Inc. (IONQ): +580.5 pp — older report 4. Nano Dimension Ltd. (NNDM): +73.9 pp — older report 5. Velo3D, Inc. (VELO): +73.3 pp — older report ### 20-quarter OPM history - DELL: Dec 2021 4.0% | Mar 2022 5.7% | Jun 2022 5.9% | Sep 2022 4.8% | Dec 2022 7.1% | Mar 2023 4.7% | Jun 2023 5.1% | Sep 2023 5.1% | Dec 2023 6.7% | Mar 2024 6.7% | Jun 2024 4.3% | Sep 2024 5.6% | Dec 2024 7.1% | Mar 2025 9.0% | Jun 2025 5.0% | Sep 2025 6.0% | Dec 2025 7.8% | Mar 2026 9.3% | Jun 2026 8.3% | Sep 2026 — - ANET: Dec 2021 32% | Mar 2022 32% | Jun 2022 35% | Sep 2022 36% | Dec 2022 37% | Mar 2023 36% | Jun 2023 36% | Sep 2023 40% | Dec 2023 42% | Mar 2024 42% | Jun 2024 41% | Sep 2024 43% | Dec 2024 41% | Mar 2025 43% | Jun 2025 45% | Sep 2025 42% | Dec 2025 42% | Mar 2026 43% | Jun 2026 — | Sep 2026 — - SNDK: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 -38% | Jun 2023 -42% | Sep 2023 -32% | Dec 2023 -15% | Mar 2024 3.8% | Jun 2024 11% | Sep 2024 16% | Dec 2024 10% | Mar 2025 -111% | Jun 2025 0.9% | Sep 2025 — | Dec 2025 7.6% | Mar 2026 35% | Jun 2026 69% | Sep 2026 — - STX: Dec 2021 19% | Mar 2022 — | Jun 2022 15% | Sep 2022 14% | Dec 2022 -8.5% | Mar 2023 -17% | Jun 2023 1.6% | Sep 2023 -8.9% | Dec 2023 8.0% | Mar 2024 8.6% | Jun 2024 17% | Sep 2024 19% | Dec 2024 21% | Mar 2025 20% | Jun 2025 23% | Sep 2025 — | Dec 2025 26% | Mar 2026 30% | Jun 2026 32% | Sep 2026 — - WDC: Dec 2021 15% | Mar 2022 — | Jun 2022 7.4% | Sep 2022 12% | Dec 2022 -10% | Mar 2023 -17% | Jun 2023 -24% | Sep 2023 -22% | Dec 2023 -6.9% | Mar 2024 5.4% | Jun 2024 -4.5% | Sep 2024 15% | Dec 2024 23% | Mar 2025 33% | Jun 2025 26% | Sep 2025 — | Dec 2025 28% | Mar 2026 30% | Jun 2026 36% | Sep 2026 — - P: Dec 2021 -3.2% | Mar 2022 4.2% | Jun 2022 -0.7% | Sep 2022 2.2% | Dec 2022 1.4% | Mar 2023 8.0% | Jun 2023 -12% | Sep 2023 -0.9% | Dec 2023 9.7% | Mar 2024 7.3% | Jun 2024 -6.0% | Sep 2024 3.3% | Dec 2024 7.2% | Mar 2025 4.8% | Jun 2025 -4.0% | Sep 2025 0.6% | Dec 2025 5.6% | Mar 2026 8.2% | Jun 2026 1.9% | Sep 2026 — - HPQ: Dec 2021 7.8% | Mar 2022 8.0% | Jun 2022 7.8% | Sep 2022 8.6% | Dec 2022 5.0% | Mar 2023 5.4% | Jun 2023 5.8% | Sep 2023 7.2% | Dec 2023 7.3% | Mar 2024 7.1% | Jun 2024 7.4% | Sep 2024 7.0% | Dec 2024 7.1% | Mar 2025 6.3% | Jun 2025 4.9% | Sep 2025 5.1% | Dec 2025 6.6% | Mar 2026 5.3% | Jun 2026 4.2% | Sep 2026 — - SMCI: Dec 2021 4.4% | Mar 2022 6.6% | Jun 2022 10% | Sep 2022 12% | Dec 2022 12% | Mar 2023 7.7% | Jun 2023 10% | Sep 2023 8.1% | Dec 2023 10% | Mar 2024 9.8% | Jun 2024 5.4% | Sep 2024 8.6% | Dec 2024 6.5% | Mar 2025 3.2% | Jun 2025 4.0% | Sep 2025 3.6% | Dec 2025 3.7% | Mar 2026 6.1% | Jun 2026 — | Sep 2026 — - IONQ: Dec 2021 -658% | Mar 2022 -936% | Jun 2022 -726% | Sep 2022 -902% | Dec 2022 -621% | Mar 2023 -654% | Jun 2023 -600% | Sep 2023 -688% | Dec 2023 -892% | Mar 2024 -697% | Jun 2024 -430% | Sep 2024 -429% | Dec 2024 -662% | Mar 2025 — | Jun 2025 -776% | Sep 2025 -424% | Dec 2025 -369% | Mar 2026 -420% | Jun 2026 — | Sep 2026 — - LOGI: Dec 2021 16% | Mar 2022 11% | Jun 2022 10% | Sep 2022 11% | Dec 2022 14% | Mar 2023 4.0% | Jun 2023 8.0% | Sep 2023 15% | Dec 2023 18% | Mar 2024 13% | Jun 2024 14% | Sep 2024 14% | Dec 2024 18% | Mar 2025 11% | Jun 2025 14% | Sep 2025 16% | Dec 2025 20% | Mar 2026 13% | Jun 2026 — | Sep 2026 — - QBTS: Dec 2021 -447% | Mar 2022 -639% | Jun 2022 -905% | Sep 2022 -895% | Dec 2022 -878% | Mar 2023 — | Jun 2023 — | Sep 2023 -719% | Dec 2023 -569% | Mar 2024 -711% | Jun 2024 -863% | Sep 2024 — | Dec 2024 -876% | Mar 2025 -75% | Jun 2025 -856% | Sep 2025 -742% | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 — - RGTI: Dec 2021 -609% | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 -441% | Mar 2023 — | Jun 2023 -488% | Sep 2023 -542% | Dec 2023 -510% | Mar 2024 -543% | Jun 2024 -521% | Sep 2024 -729% | Dec 2024 -813% | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 -590% | Jun 2026 — | Sep 2026 — - QUBT: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 -557% | Jun 2026 — | Sep 2026 — - UMAC: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 -176% | Jun 2024 -111% | Sep 2024 -95% | Dec 2024 -642% | Mar 2025 -160% | Jun 2025 -339% | Sep 2025 -232% | Dec 2025 -199% | Mar 2026 -90% | Jun 2026 — | Sep 2026 — - CRSR: Dec 2021 4.9% | Mar 2022 -0.7% | Jun 2022 -19% | Sep 2022 -3.5% | Dec 2022 3.4% | Mar 2023 0.3% | Jun 2023 -0.8% | Sep 2023 -0.2% | Dec 2023 2.9% | Mar 2024 -3.0% | Jun 2024 -9.5% | Sep 2024 -6.9% | Dec 2024 1.4% | Mar 2025 -0.6% | Jun 2025 -5.3% | Sep 2025 -1.6% | Dec 2025 6.2% | Mar 2026 3.9% | Jun 2026 — | Sep 2026 — - CRCT: Dec 2021 6.7% | Mar 2022 13% | Jun 2022 11% | Sep 2022 9.8% | Dec 2022 4.0% | Mar 2023 5.8% | Jun 2023 11% | Sep 2023 14% | Dec 2023 7.1% | Mar 2024 15% | Jun 2024 16% | Sep 2024 6.3% | Dec 2024 6.6% | Mar 2025 18% | Jun 2025 18% | Sep 2025 13% | Dec 2025 6.8% | Mar 2026 14% | Jun 2026 — | Sep 2026 — - SSYS: Dec 2021 -9.7% | Mar 2022 -12% | Jun 2022 -14% | Sep 2022 -9.6% | Dec 2022 1.0% | Mar 2023 -11% | Jun 2023 -21% | Sep 2023 -26% | Dec 2023 3.6% | Mar 2024 -17% | Jun 2024 -19% | Sep 2024 -18% | Dec 2024 -6.5% | Mar 2025 -9.1% | Jun 2025 -12% | Sep 2025 -17% | Dec 2025 -15% | Mar 2026 -20% | Jun 2026 — | Sep 2026 — - DDD: Dec 2021 -2.5% | Mar 2022 -18% | Jun 2022 -23% | Sep 2022 -26% | Dec 2022 -21% | Mar 2023 -28% | Jun 2023 -25% | Sep 2023 -11% | Dec 2023 -285% | Mar 2024 -39% | Jun 2024 -23% | Sep 2024 -160% | Dec 2024 -27% | Mar 2025 -39% | Jun 2025 -16% | Sep 2025 -23% | Dec 2025 -21% | Mar 2026 -7.0% | Jun 2026 — | Sep 2026 — - QMCO: Dec 2021 -7.6% | Mar 2022 -5.3% | Jun 2022 -7.3% | Sep 2022 -9.7% | Dec 2022 3.6% | Mar 2023 -5.2% | Jun 2023 -5.6% | Sep 2023 -4.9% | Dec 2023 -8.6% | Mar 2024 -19% | Jun 2024 -23% | Sep 2024 -7.7% | Dec 2024 -11% | Mar 2025 -19% | Jun 2025 -20% | Sep 2025 -13% | Dec 2025 -1.6% | Mar 2026 -3.3% | Jun 2026 — | Sep 2026 — - VELO: Dec 2021 -183% | Mar 2022 -231% | Jun 2022 -134% | Sep 2022 -146% | Dec 2022 -86% | Mar 2023 -91% | Jun 2023 -102% | Sep 2023 -112% | Dec 2023 — | Mar 2024 -219% | Jun 2024 -198% | Sep 2024 -229% | Dec 2024 -171% | Mar 2025 -124% | Jun 2025 -89% | Sep 2025 -78% | Dec 2025 -215% | Mar 2026 -50% | Jun 2026 — | Sep 2026 — - OSS: Dec 2021 -0.4% | Mar 2022 3.8% | Jun 2022 2.2% | Sep 2022 0.9% | Dec 2022 1.9% | Mar 2023 -1.2% | Jun 2023 -20% | Sep 2023 -29% | Dec 2023 -2.5% | Mar 2024 -10% | Jun 2024 -17% | Sep 2024 -49% | Dec 2024 -21% | Mar 2025 -45% | Jun 2025 -13% | Sep 2025 3.0% | Dec 2025 16% | Mar 2026 -8.3% | Jun 2026 — | Sep 2026 — - NNDM: Dec 2021 — | Mar 2022 -316% | Jun 2022 -289% | Sep 2022 -338% | Dec 2022 -601% | Mar 2023 -209% | Jun 2023 -207% | Sep 2023 -296% | Dec 2023 -189% | Mar 2024 -142% | Jun 2024 -143% | Sep 2024 -137% | Dec 2024 -181% | Mar 2025 -291% | Jun 2025 -155% | Sep 2025 -123% | Dec 2025 -72% | Mar 2026 -217% | Jun 2026 — | Sep 2026 — - ALOT: Dec 2021 1.0% | Mar 2022 -0.8% | Jun 2022 2.5% | Sep 2022 3.8% | Dec 2022 3.4% | Mar 2023 5.3% | Jun 2023 4.1% | Sep 2023 -3.4% | Dec 2023 12% | Mar 2024 9.9% | Jun 2024 4.1% | Sep 2024 2.6% | Dec 2024 3.1% | Mar 2025 -33% | Jun 2025 1.5% | Sep 2025 -2.0% | Dec 2025 3.3% | Mar 2026 0.1% | Jun 2026 4.0% | Sep 2026 — - DPRO: Dec 2021 -312% | Mar 2022 -262% | Jun 2022 -260% | Sep 2022 -340% | Dec 2022 -535% | Mar 2023 -443% | Jun 2023 -350% | Sep 2023 -255% | Dec 2023 -338% | Mar 2024 -233% | Jun 2024 -219% | Sep 2024 -195% | Dec 2024 -210% | Mar 2025 -233% | Jun 2025 -213% | Sep 2025 -229% | Dec 2025 -410% | Mar 2026 -329% | Jun 2026 — | Sep 2026 — - CAN: Dec 2021 56% | Mar 2022 43% | Jun 2022 40% | Sep 2022 -7.2% | Dec 2022 -213% | Mar 2023 -155% | Jun 2023 -161% | Sep 2023 -339% | Dec 2023 -190% | Mar 2024 -194% | Jun 2024 -65% | Sep 2024 -77% | Dec 2024 -63% | Mar 2025 -46% | Jun 2025 -27% | Sep 2025 -16% | Dec 2025 -12% | Mar 2026 -87% | Jun 2026 — | Sep 2026 — - AMCI: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 -36% | Dec 2024 22% | Mar 2025 — | Jun 2025 — | Sep 2025 46% | Dec 2025 23% | Mar 2026 — | Jun 2026 — | Sep 2026 — ### 20-quarter Margin change history - DELL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.6 pp | Dec 2022 +3.1 pp | Mar 2023 −1.0 pp | Jun 2023 −0.8 pp | Sep 2023 +0.3 pp | Dec 2023 −0.4 pp | Mar 2024 +2.0 pp | Jun 2024 −0.8 pp | Sep 2024 +0.5 pp | Dec 2024 +0.4 pp | Mar 2025 +2.3 pp | Jun 2025 +0.7 pp | Sep 2025 +0.4 pp | Dec 2025 +0.7 pp | Mar 2026 +0.3 pp | Jun 2026 +3.3 pp | Sep 2026 — - ANET: Dec 2021 — | Mar 2022 — | Jun 2022 +3.5 pp | Sep 2022 +4.3 pp | Dec 2022 +4.6 pp | Mar 2023 +4.2 pp | Jun 2023 +1.8 pp | Sep 2023 +4.4 pp | Dec 2023 +4.7 pp | Mar 2024 +6.1 pp | Jun 2024 +5.1 pp | Sep 2024 +3.5 pp | Dec 2024 −0.1 pp | Mar 2025 +0.8 pp | Jun 2025 +3.3 pp | Sep 2025 −1.0 pp | Dec 2025 +0.1 pp | Mar 2026 −0.1 pp | Jun 2026 — | Sep 2026 — - SNDK: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 +41.9 pp | Jun 2024 +52.9 pp | Sep 2024 +47.3 pp | Dec 2024 +25.1 pp | Mar 2025 −114.8 pp | Jun 2025 −10.4 pp | Sep 2025 — | Dec 2025 −2.8 pp | Mar 2026 +146.2 pp | Jun 2026 +68.2 pp | Sep 2026 — - STX: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −3.1 pp | Dec 2022 −27.3 pp | Mar 2023 — | Jun 2023 −13.7 pp | Sep 2023 −22.6 pp | Dec 2023 +16.5 pp | Mar 2024 +25.5 pp | Jun 2024 +15.0 pp | Sep 2024 +27.5 pp | Dec 2024 +13.0 pp | Mar 2025 +11.4 pp | Jun 2025 +6.6 pp | Sep 2025 — | Dec 2025 +5.4 pp | Mar 2026 +9.8 pp | Jun 2026 +8.9 pp | Sep 2026 — - WDC: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −1.3 pp | Dec 2022 −25.7 pp | Mar 2023 — | Jun 2023 −31.7 pp | Sep 2023 −34.1 pp | Dec 2023 +3.4 pp | Mar 2024 +22.2 pp | Jun 2024 +19.8 pp | Sep 2024 +36.8 pp | Dec 2024 +30.1 pp | Mar 2025 +27.7 pp | Jun 2025 +30.6 pp | Sep 2025 — | Dec 2025 +4.9 pp | Mar 2026 −3.0 pp | Jun 2026 +9.6 pp | Sep 2026 — - P: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +9.0 pp | Dec 2022 +4.6 pp | Mar 2023 +3.8 pp | Jun 2023 −11.5 pp | Sep 2023 −3.1 pp | Dec 2023 +8.3 pp | Mar 2024 −0.7 pp | Jun 2024 +6.2 pp | Sep 2024 +4.2 pp | Dec 2024 −2.5 pp | Mar 2025 −2.5 pp | Jun 2025 +2.0 pp | Sep 2025 −2.7 pp | Dec 2025 −1.6 pp | Mar 2026 +3.4 pp | Jun 2026 +5.9 pp | Sep 2026 — - HPQ: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.4 pp | Dec 2022 −2.8 pp | Mar 2023 −2.6 pp | Jun 2023 −2.0 pp | Sep 2023 −1.4 pp | Dec 2023 +2.3 pp | Mar 2024 +1.7 pp | Jun 2024 +1.6 pp | Sep 2024 −0.2 pp | Dec 2024 −0.2 pp | Mar 2025 −0.8 pp | Jun 2025 −2.5 pp | Sep 2025 −1.9 pp | Dec 2025 −0.5 pp | Mar 2026 −1.0 pp | Jun 2026 −0.7 pp | Sep 2026 — - SMCI: Dec 2021 — | Mar 2022 — | Jun 2022 +6.4 pp | Sep 2022 +9.1 pp | Dec 2022 +7.5 pp | Mar 2023 +1.1 pp | Jun 2023 +0.3 pp | Sep 2023 −3.8 pp | Dec 2023 −1.8 pp | Mar 2024 +2.1 pp | Jun 2024 −5.0 pp | Sep 2024 +0.5 pp | Dec 2024 −3.6 pp | Mar 2025 −6.6 pp | Jun 2025 −1.4 pp | Sep 2025 −5.0 pp | Dec 2025 −2.8 pp | Mar 2026 +2.9 pp | Jun 2026 — | Sep 2026 — - IONQ: Dec 2021 — | Mar 2022 — | Jun 2022 +10,014.0 pp | Sep 2022 +3,615.1 pp | Dec 2022 +37.0 pp | Mar 2023 +282.2 pp | Jun 2023 +125.8 pp | Sep 2023 +214.0 pp | Dec 2023 −271.1 pp | Mar 2024 −43.4 pp | Jun 2024 +170.0 pp | Sep 2024 +259.1 pp | Dec 2024 +229.8 pp | Mar 2025 −302.9 pp | Jun 2025 −346.0 pp | Sep 2025 +5.0 pp | Dec 2025 +292.5 pp | Mar 2026 +580.5 pp | Jun 2026 — | Sep 2026 — - LOGI: Dec 2021 — | Mar 2022 — | Jun 2022 −5.5 pp | Sep 2022 −2.6 pp | Dec 2022 −2.2 pp | Mar 2023 −6.5 pp | Jun 2023 −2.0 pp | Sep 2023 +3.7 pp | Dec 2023 +3.8 pp | Mar 2024 +8.9 pp | Jun 2024 +6.1 pp | Sep 2024 −0.4 pp | Dec 2024 −0.2 pp | Mar 2025 −2.4 pp | Jun 2025 0.0 pp | Sep 2025 +1.7 pp | Dec 2025 +2.6 pp | Mar 2026 +2.0 pp | Jun 2026 — | Sep 2026 — - QBTS: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −145.3 pp | Dec 2022 −430.7 pp | Mar 2023 −920.4 pp | Jun 2023 −320.1 pp | Sep 2023 +176.1 pp | Dec 2023 +308.9 pp | Mar 2024 +849.1 pp | Jun 2024 +361.8 pp | Sep 2024 −385.0 pp | Dec 2024 −307.0 pp | Mar 2025 +635.3 pp | Jun 2025 +6.7 pp | Sep 2025 +361.7 pp | Dec 2025 −389.8 pp | Mar 2026 −1,839.6 pp | Jun 2026 — | Sep 2026 — - RGTI: Dec 2021 — | Mar 2022 — | Jun 2022 −578.7 pp | Sep 2022 −803.0 pp | Dec 2022 +168.4 pp | Mar 2023 +200.6 pp | Jun 2023 +719.0 pp | Sep 2023 +575.0 pp | Dec 2023 −68.7 pp | Mar 2024 +457.1 pp | Jun 2024 −33.2 pp | Sep 2024 −187.3 pp | Dec 2024 −303.6 pp | Mar 2025 −926.2 pp | Jun 2025 −582.7 pp | Sep 2025 −326.0 pp | Dec 2025 −396.4 pp | Mar 2026 +879.8 pp | Jun 2026 — | Sep 2026 — - QUBT: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 +16,438.3 pp | Jun 2023 +1,130.3 pp | Sep 2023 +4,931.3 pp | Dec 2023 +11,07,747.1 pp | Mar 2024 −18,366.5 pp | Jun 2024 +3,334.4 pp | Sep 2024 +7,837.8 pp | Dec 2024 −3,834.5 pp | Mar 2025 +2,157.5 pp | Jun 2025 −13,795.7 pp | Sep 2025 +2,674.8 pp | Dec 2025 +3,157.2 pp | Mar 2026 +20,689.4 pp | Jun 2026 — | Sep 2026 — - UMAC: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 +15.5 pp | Jun 2025 −227.1 pp | Sep 2025 −137.0 pp | Dec 2025 +443.6 pp | Mar 2026 +70.3 pp | Jun 2026 — | Sep 2026 — - CRSR: Dec 2021 — | Mar 2022 — | Jun 2022 −26.7 pp | Sep 2022 −6.2 pp | Dec 2022 −1.5 pp | Mar 2023 +1.0 pp | Jun 2023 +18.6 pp | Sep 2023 +3.3 pp | Dec 2023 −0.5 pp | Mar 2024 −3.3 pp | Jun 2024 −8.7 pp | Sep 2024 −6.7 pp | Dec 2024 −1.5 pp | Mar 2025 +2.4 pp | Jun 2025 +4.2 pp | Sep 2025 +5.3 pp | Dec 2025 +4.8 pp | Mar 2026 +4.5 pp | Jun 2026 — | Sep 2026 — - CRCT: Dec 2021 — | Mar 2022 — | Jun 2022 −8.3 pp | Sep 2022 −4.7 pp | Dec 2022 −2.7 pp | Mar 2023 −7.0 pp | Jun 2023 −0.1 pp | Sep 2023 +3.7 pp | Dec 2023 +3.1 pp | Mar 2024 +9.3 pp | Jun 2024 +4.9 pp | Sep 2024 −7.2 pp | Dec 2024 −0.5 pp | Mar 2025 +2.9 pp | Jun 2025 +1.8 pp | Sep 2025 +7.0 pp | Dec 2025 +0.2 pp | Mar 2026 −3.6 pp | Jun 2026 — | Sep 2026 — - SSYS: Dec 2021 — | Mar 2022 — | Jun 2022 +1.4 pp | Sep 2022 +4.2 pp | Dec 2022 +10.7 pp | Mar 2023 +0.8 pp | Jun 2023 −7.0 pp | Sep 2023 −16.8 pp | Dec 2023 +2.6 pp | Mar 2024 −5.8 pp | Jun 2024 +2.2 pp | Sep 2024 +8.2 pp | Dec 2024 −10.1 pp | Mar 2025 +7.9 pp | Jun 2025 +6.9 pp | Sep 2025 +1.6 pp | Dec 2025 −8.3 pp | Mar 2026 −10.9 pp | Jun 2026 — | Sep 2026 — - DDD: Dec 2021 — | Mar 2022 — | Jun 2022 −16.7 pp | Sep 2022 −14.5 pp | Dec 2022 −18.6 pp | Mar 2023 −10.0 pp | Jun 2023 −1.9 pp | Sep 2023 +14.5 pp | Dec 2023 −263.9 pp | Mar 2024 −11.2 pp | Jun 2024 +1.5 pp | Sep 2024 −149.0 pp | Dec 2024 +257.6 pp | Mar 2025 −0.2 pp | Jun 2025 +7.1 pp | Sep 2025 +136.6 pp | Dec 2025 +6.1 pp | Mar 2026 +31.9 pp | Jun 2026 — | Sep 2026 — - QMCO: Dec 2021 — | Mar 2022 — | Jun 2022 −7.2 pp | Sep 2022 −8.7 pp | Dec 2022 +11.2 pp | Mar 2023 +0.1 pp | Jun 2023 +1.7 pp | Sep 2023 +4.8 pp | Dec 2023 −12.2 pp | Mar 2024 −14.1 pp | Jun 2024 −17.7 pp | Sep 2024 −2.8 pp | Dec 2024 −2.7 pp | Mar 2025 +0.4 pp | Jun 2025 +3.7 pp | Sep 2025 −5.3 pp | Dec 2025 +9.7 pp | Mar 2026 +15.6 pp | Jun 2026 — | Sep 2026 — - VELO: Dec 2021 — | Mar 2022 — | Jun 2022 +31.1 pp | Sep 2022 +26.2 pp | Dec 2022 +96.9 pp | Mar 2023 +139.7 pp | Jun 2023 +31.3 pp | Sep 2023 +34.6 pp | Dec 2023 −2,253.1 pp | Mar 2024 −128.3 pp | Jun 2024 −96.1 pp | Sep 2024 −117.3 pp | Dec 2024 +2,168.2 pp | Mar 2025 +95.6 pp | Jun 2025 +109.3 pp | Sep 2025 +151.0 pp | Dec 2025 −43.5 pp | Mar 2026 +73.3 pp | Jun 2026 — | Sep 2026 — - OSS: Dec 2021 — | Mar 2022 — | Jun 2022 −1.3 pp | Sep 2022 −5.5 pp | Dec 2022 +2.3 pp | Mar 2023 −5.0 pp | Jun 2023 −22.0 pp | Sep 2023 −29.9 pp | Dec 2023 −4.4 pp | Mar 2024 −8.8 pp | Jun 2024 +2.7 pp | Sep 2024 −20.1 pp | Dec 2024 −18.0 pp | Mar 2025 −35.2 pp | Jun 2025 +4.2 pp | Sep 2025 +52.1 pp | Dec 2025 +36.6 pp | Mar 2026 +36.9 pp | Jun 2026 — | Sep 2026 — - NNDM: Dec 2021 — | Mar 2022 — | Jun 2022 +2,159.5 pp | Sep 2022 +1,490.8 pp | Dec 2022 +1,646.6 pp | Mar 2023 +107.1 pp | Jun 2023 +82.7 pp | Sep 2023 +42.1 pp | Dec 2023 +412.0 pp | Mar 2024 +66.6 pp | Jun 2024 +63.7 pp | Sep 2024 +159.5 pp | Dec 2024 +7.8 pp | Mar 2025 −149.0 pp | Jun 2025 −11.9 pp | Sep 2025 +13.3 pp | Dec 2025 +109.0 pp | Mar 2026 +73.9 pp | Jun 2026 — | Sep 2026 — - ALOT: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −7.8 pp | Dec 2022 +2.4 pp | Mar 2023 +6.1 pp | Jun 2023 +1.6 pp | Sep 2023 −7.2 pp | Dec 2023 +8.9 pp | Mar 2024 +4.6 pp | Jun 2024 0.0 pp | Sep 2024 +6.0 pp | Dec 2024 −9.2 pp | Mar 2025 −42.9 pp | Jun 2025 −2.6 pp | Sep 2025 −4.6 pp | Dec 2025 +0.2 pp | Mar 2026 +33.1 pp | Jun 2026 +2.5 pp | Sep 2026 — - DPRO: Dec 2021 — | Mar 2022 — | Jun 2022 −128.2 pp | Sep 2022 +41.2 pp | Dec 2022 −222.8 pp | Mar 2023 −180.6 pp | Jun 2023 −89.9 pp | Sep 2023 +85.1 pp | Dec 2023 +196.8 pp | Mar 2024 +209.3 pp | Jun 2024 +130.6 pp | Sep 2024 +59.6 pp | Dec 2024 +128.6 pp | Mar 2025 +0.6 pp | Jun 2025 +6.3 pp | Sep 2025 −33.1 pp | Dec 2025 −199.9 pp | Mar 2026 −96.6 pp | Jun 2026 — | Sep 2026 — - CAN: Dec 2021 — | Mar 2022 — | Jun 2022 +24.6 pp | Sep 2022 −42.4 pp | Dec 2022 −268.8 pp | Mar 2023 −197.8 pp | Jun 2023 −201.2 pp | Sep 2023 −331.5 pp | Dec 2023 +23.2 pp | Mar 2024 −38.8 pp | Jun 2024 +96.5 pp | Sep 2024 +261.5 pp | Dec 2024 +127.4 pp | Mar 2025 +148.4 pp | Jun 2025 +37.8 pp | Sep 2025 +61.3 pp | Dec 2025 +50.7 pp | Mar 2026 −41.1 pp | Jun 2026 — | Sep 2026 — - AMCI: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 +81.4 pp | Dec 2025 +0.9 pp | Mar 2026 — | Jun 2026 — | Sep 2026 — ## Profit Scale & Acceleration What the numbers say: Dell Technologies Inc. leads with $8,409 million of TTM profit, 126% above Arista Networks, Inc.. Dell Technologies Inc. shows 84.8% growth from a $8,409 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale. Investor read: Dell Technologies Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it. This conclusion weakens if: The next two comparable reports reverse the current profit growth signal. Evidence: Dell Technologies Inc. · $8,409 million | 126% versus #2 · Arista Networks, Inc. | 7/8 recent comparable periods | 22/29 companies · 471 observations Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank. ### Net profit — largest 1. Dell Technologies Inc. (DELL): ₹8.4K Cr 2. Arista Networks, Inc. (ANET): ₹3.7K Cr — older report 3. HP Inc. (HPQ): ₹2.6K Cr 4. Super Micro Computer, Inc. (SMCI): ₹1.3K Cr — older report 5. IonQ, Inc. (IONQ): ₹324 Cr — older report ### Profit growth — fastest growers 1. Dell Technologies Inc. (DELL): 85% 2. Arista Networks, Inc. (ANET): 23% — older report 3. Super Micro Computer, Inc. (SMCI): 9.3% — older report 4. Cricut, Inc. (CRCT): 9.0% — older report 5. HP Inc. (HPQ): 1.4% ### 20-quarter Net profit history - DELL: Dec 2021 ₹3.9K Cr | Mar 2022 ₹1 Cr | Jun 2022 ₹1.1K Cr | Sep 2022 ₹506 Cr | Dec 2022 ₹241 Cr | Mar 2023 ₹606 Cr | Jun 2023 ₹578 Cr | Sep 2023 ₹455 Cr | Dec 2023 ₹1.0K Cr | Mar 2024 ₹1.2K Cr | Jun 2024 ₹992 Cr | Sep 2024 ₹882 Cr | Dec 2024 ₹1.2K Cr | Mar 2025 ₹1.5K Cr | Jun 2025 ₹965 Cr | Sep 2025 ₹1.2K Cr | Dec 2025 ₹1.5K Cr | Mar 2026 ₹2.3K Cr | Jun 2026 ₹3.4K Cr | Sep 2026 — - ANET: Dec 2021 ₹239 Cr | Mar 2022 ₹272 Cr | Jun 2022 ₹299 Cr | Sep 2022 ₹354 Cr | Dec 2022 ₹427 Cr | Mar 2023 ₹436 Cr | Jun 2023 ₹492 Cr | Sep 2023 ₹545 Cr | Dec 2023 ₹614 Cr | Mar 2024 ₹638 Cr | Jun 2024 ₹665 Cr | Sep 2024 ₹748 Cr | Dec 2024 ₹801 Cr | Mar 2025 ₹814 Cr | Jun 2025 ₹889 Cr | Sep 2025 ₹853 Cr | Dec 2025 ₹956 Cr | Mar 2026 ₹1.0K Cr | Jun 2026 — | Sep 2026 — - SNDK: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 ₹-498 Cr | Jun 2023 ₹-582 Cr | Sep 2023 ₹-487 Cr | Dec 2023 ₹-301 Cr | Mar 2024 ₹27 Cr | Jun 2024 ₹120 Cr | Sep 2024 ₹211 Cr | Dec 2024 ₹104 Cr | Mar 2025 ₹-1.9K Cr | Jun 2025 ₹-23 Cr | Sep 2025 — | Dec 2025 ₹112 Cr | Mar 2026 ₹803 Cr | Jun 2026 ₹3.6K Cr | Sep 2026 — - STX: Dec 2021 ₹526 Cr | Mar 2022 — | Jun 2022 ₹346 Cr | Sep 2022 ₹276 Cr | Dec 2022 ₹-33 Cr | Mar 2023 ₹-433 Cr | Jun 2023 ₹-92 Cr | Sep 2023 ₹-184 Cr | Dec 2023 ₹-19 Cr | Mar 2024 ₹25 Cr | Jun 2024 ₹513 Cr | Sep 2024 ₹305 Cr | Dec 2024 ₹336 Cr | Mar 2025 ₹340 Cr | Jun 2025 ₹488 Cr | Sep 2025 — | Dec 2025 ₹549 Cr | Mar 2026 ₹593 Cr | Jun 2026 ₹748 Cr | Sep 2026 — - WDC: Dec 2021 ₹610 Cr | Mar 2022 — | Jun 2022 ₹25 Cr | Sep 2022 ₹347 Cr | Dec 2022 ₹-451 Cr | Mar 2023 ₹-571 Cr | Jun 2023 ₹-709 Cr | Sep 2023 ₹-685 Cr | Dec 2023 ₹-287 Cr | Mar 2024 ₹-8 Cr | Jun 2024 ₹-246 Cr | Sep 2024 ₹153 Cr | Dec 2024 ₹466 Cr | Mar 2025 ₹772 Cr | Jun 2025 ₹252 Cr | Sep 2025 — | Dec 2025 ₹1.2K Cr | Mar 2026 ₹1.8K Cr | Jun 2026 ₹3.2K Cr | Sep 2026 — - P: Dec 2021 ₹-29 Cr | Mar 2022 ₹15 Cr | Jun 2022 ₹-12 Cr | Sep 2022 ₹11 Cr | Dec 2022 ₹-1 Cr | Mar 2023 ₹74 Cr | Jun 2023 ₹-67 Cr | Sep 2023 ₹-7 Cr | Dec 2023 ₹70 Cr | Mar 2024 ₹65 Cr | Jun 2024 ₹-35 Cr | Sep 2024 ₹36 Cr | Dec 2024 ₹64 Cr | Mar 2025 ₹42 Cr | Jun 2025 ₹-14 Cr | Sep 2025 ₹47 Cr | Dec 2025 ₹55 Cr | Mar 2026 ₹100 Cr | Jun 2026 ₹24 Cr | Sep 2026 — - HPQ: Dec 2021 ₹3.1K Cr | Mar 2022 ₹1.1K Cr | Jun 2022 ₹1.0K Cr | Sep 2022 ₹1.1K Cr | Dec 2022 ₹-23 Cr | Mar 2023 ₹469 Cr | Jun 2023 ₹1.1K Cr | Sep 2023 ₹766 Cr | Dec 2023 ₹974 Cr | Mar 2024 ₹622 Cr | Jun 2024 ₹607 Cr | Sep 2024 ₹640 Cr | Dec 2024 ₹906 Cr | Mar 2025 ₹565 Cr | Jun 2025 ₹406 Cr | Sep 2025 ₹763 Cr | Dec 2025 ₹795 Cr | Mar 2026 ₹545 Cr | Jun 2026 ₹450 Cr | Sep 2026 — - SMCI: Dec 2021 ₹42 Cr | Mar 2022 ₹77 Cr | Jun 2022 ₹140 Cr | Sep 2022 ₹185 Cr | Dec 2022 ₹178 Cr | Mar 2023 ₹87 Cr | Jun 2023 ₹194 Cr | Sep 2023 ₹157 Cr | Dec 2023 ₹294 Cr | Mar 2024 ₹402 Cr | Jun 2024 ₹298 Cr | Sep 2024 ₹424 Cr | Dec 2024 ₹318 Cr | Mar 2025 ₹109 Cr | Jun 2025 ₹203 Cr | Sep 2025 ₹168 Cr | Dec 2025 ₹401 Cr | Mar 2026 ₹484 Cr | Jun 2026 — | Sep 2026 — - IONQ: Dec 2021 ₹-74 Cr | Mar 2022 ₹-4 Cr | Jun 2022 ₹-2 Cr | Sep 2022 ₹-24 Cr | Dec 2022 ₹-19 Cr | Mar 2023 ₹-27 Cr | Jun 2023 ₹-44 Cr | Sep 2023 ₹-45 Cr | Dec 2023 ₹-42 Cr | Mar 2024 ₹-40 Cr | Jun 2024 ₹-38 Cr | Sep 2024 ₹-52 Cr | Dec 2024 ₹-202 Cr | Mar 2025 ₹-32 Cr | Jun 2025 ₹-178 Cr | Sep 2025 ₹-1.1K Cr | Dec 2025 ₹753 Cr | Mar 2026 ₹805 Cr | Jun 2026 — | Sep 2026 — - LOGI: Dec 2021 ₹210 Cr | Mar 2022 ₹108 Cr | Jun 2022 ₹101 Cr | Sep 2022 ₹82 Cr | Dec 2022 ₹140 Cr | Mar 2023 ₹41 Cr | Jun 2023 ₹63 Cr | Sep 2023 ₹137 Cr | Dec 2023 ₹245 Cr | Mar 2024 ₹168 Cr | Jun 2024 ₹142 Cr | Sep 2024 ₹145 Cr | Dec 2024 ₹200 Cr | Mar 2025 ₹144 Cr | Jun 2025 ₹146 Cr | Sep 2025 ₹171 Cr | Dec 2025 ₹251 Cr | Mar 2026 ₹143 Cr | Jun 2026 — | Sep 2026 — - QBTS: Dec 2021 ₹-12 Cr | Mar 2022 ₹-12 Cr | Jun 2022 ₹-12 Cr | Sep 2022 ₹-12 Cr | Dec 2022 ₹-18 Cr | Mar 2023 ₹-24 Cr | Jun 2023 ₹-26 Cr | Sep 2023 ₹-16 Cr | Dec 2023 ₹-17 Cr | Mar 2024 ₹-17 Cr | Jun 2024 ₹-18 Cr | Sep 2024 ₹-23 Cr | Dec 2024 ₹-89 Cr | Mar 2025 ₹-5 Cr | Jun 2025 ₹-167 Cr | Sep 2025 ₹-140 Cr | Dec 2025 ₹-50 Cr | Mar 2026 ₹-18 Cr | Jun 2026 — | Sep 2026 — - RGTI: Dec 2021 ₹-14 Cr | Mar 2022 ₹-18 Cr | Jun 2022 ₹-12 Cr | Sep 2022 ₹-19 Cr | Dec 2022 ₹-23 Cr | Mar 2023 ₹-23 Cr | Jun 2023 ₹-17 Cr | Sep 2023 ₹-22 Cr | Dec 2023 ₹-13 Cr | Mar 2024 ₹-21 Cr | Jun 2024 ₹-12 Cr | Sep 2024 ₹-15 Cr | Dec 2024 ₹-153 Cr | Mar 2025 ₹43 Cr | Jun 2025 ₹-40 Cr | Sep 2025 ₹-201 Cr | Dec 2025 ₹-18 Cr | Mar 2026 ₹33 Cr | Jun 2026 — | Sep 2026 — - QUBT: Dec 2021 ₹-16 Cr | Mar 2022 ₹-7 Cr | Jun 2022 ₹-5 Cr | Sep 2022 ₹-8 Cr | Dec 2022 ₹-19 Cr | Mar 2023 ₹-6 Cr | Jun 2023 ₹-7 Cr | Sep 2023 ₹-7 Cr | Dec 2023 ₹-7 Cr | Mar 2024 ₹-6 Cr | Jun 2024 ₹-5 Cr | Sep 2024 ₹-6 Cr | Dec 2024 ₹-51 Cr | Mar 2025 ₹17 Cr | Jun 2025 ₹-36 Cr | Sep 2025 ₹2 Cr | Dec 2025 ₹-2 Cr | Mar 2026 ₹-4 Cr | Jun 2026 — | Sep 2026 — - UMAC: Dec 2021 ₹0 Cr | Mar 2022 ₹0 Cr | Jun 2022 ₹0 Cr | Sep 2022 ₹0 Cr | Dec 2022 ₹0 Cr | Mar 2023 ₹-1 Cr | Jun 2023 ₹0 Cr | Sep 2023 ₹0 Cr | Dec 2023 ₹0 Cr | Mar 2024 ₹-1 Cr | Jun 2024 ₹-2 Cr | Sep 2024 ₹-2 Cr | Dec 2024 ₹-27 Cr | Mar 2025 ₹-3 Cr | Jun 2025 ₹-7 Cr | Sep 2025 ₹2 Cr | Dec 2025 ₹-11 Cr | Mar 2026 ₹10 Cr | Jun 2026 — | Sep 2026 — - CRSR: Dec 2021 ₹25 Cr | Mar 2022 ₹-3 Cr | Jun 2022 ₹-52 Cr | Sep 2022 ₹-6 Cr | Dec 2022 ₹7 Cr | Mar 2023 ₹-2 Cr | Jun 2023 ₹-4 Cr | Sep 2023 ₹-3 Cr | Dec 2023 ₹8 Cr | Mar 2024 ₹-11 Cr | Jun 2024 ₹-24 Cr | Sep 2024 ₹-52 Cr | Dec 2024 ₹3 Cr | Mar 2025 ₹-10 Cr | Jun 2025 ₹-20 Cr | Sep 2025 ₹-10 Cr | Dec 2025 ₹26 Cr | Mar 2026 ₹13 Cr | Jun 2026 — | Sep 2026 — - BRAI: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 ₹-1 Cr | Mar 2024 — | Jun 2024 ₹-1 Cr | Sep 2024 — | Dec 2024 ₹-1 Cr | Mar 2025 — | Jun 2025 ₹-1 Cr | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 — - CRCT: Dec 2021 ₹12 Cr | Mar 2022 ₹24 Cr | Jun 2022 ₹14 Cr | Sep 2022 ₹12 Cr | Dec 2022 ₹11 Cr | Mar 2023 ₹9 Cr | Jun 2023 ₹16 Cr | Sep 2023 ₹17 Cr | Dec 2023 ₹11 Cr | Mar 2024 ₹20 Cr | Jun 2024 ₹20 Cr | Sep 2024 ₹11 Cr | Dec 2024 ₹12 Cr | Mar 2025 ₹24 Cr | Jun 2025 ₹24 Cr | Sep 2025 ₹21 Cr | Dec 2025 ₹8 Cr | Mar 2026 ₹20 Cr | Jun 2026 — | Sep 2026 — - SSYS: Dec 2021 ₹-5 Cr | Mar 2022 ₹-21 Cr | Jun 2022 ₹-24 Cr | Sep 2022 ₹19 Cr | Dec 2022 ₹-2 Cr | Mar 2023 ₹-22 Cr | Jun 2023 ₹-39 Cr | Sep 2023 ₹-47 Cr | Dec 2023 ₹-15 Cr | Mar 2024 ₹-26 Cr | Jun 2024 ₹-26 Cr | Sep 2024 ₹-27 Cr | Dec 2024 ₹-42 Cr | Mar 2025 ₹-13 Cr | Jun 2025 ₹-17 Cr | Sep 2025 ₹-56 Cr | Dec 2025 ₹-19 Cr | Mar 2026 ₹-24 Cr | Jun 2026 — | Sep 2026 — - DDD: Dec 2021 ₹-6 Cr | Mar 2022 ₹-27 Cr | Jun 2022 ₹-33 Cr | Sep 2022 ₹-38 Cr | Dec 2022 ₹-26 Cr | Mar 2023 ₹-30 Cr | Jun 2023 ₹-29 Cr | Sep 2023 ₹-12 Cr | Dec 2023 ₹-293 Cr | Mar 2024 ₹-16 Cr | Jun 2024 ₹-27 Cr | Sep 2024 ₹-179 Cr | Dec 2024 ₹-33 Cr | Mar 2025 ₹-37 Cr | Jun 2025 ₹104 Cr | Sep 2025 ₹-18 Cr | Dec 2025 ₹-20 Cr | Mar 2026 ₹-5 Cr | Jun 2026 — | Sep 2026 — - QMCO: Dec 2021 ₹-11 Cr | Mar 2022 ₹-8 Cr | Jun 2022 ₹-10 Cr | Sep 2022 ₹-7 Cr | Dec 2022 ₹0 Cr | Mar 2023 ₹-10 Cr | Jun 2023 ₹-9 Cr | Sep 2023 ₹-3 Cr | Dec 2023 ₹-10 Cr | Mar 2024 ₹-19 Cr | Jun 2024 ₹-20 Cr | Sep 2024 ₹-12 Cr | Dec 2024 ₹-75 Cr | Mar 2025 ₹-8 Cr | Jun 2025 ₹-17 Cr | Sep 2025 ₹-46 Cr | Dec 2025 ₹-28 Cr | Mar 2026 ₹-10 Cr | Jun 2026 — | Sep 2026 — - VELO: Dec 2021 ₹-22 Cr | Mar 2022 ₹-65 Cr | Jun 2022 ₹128 Cr | Sep 2022 ₹-75 Cr | Dec 2022 ₹-23 Cr | Mar 2023 ₹-36 Cr | Jun 2023 ₹-23 Cr | Sep 2023 ₹-19 Cr | Dec 2023 ₹-64 Cr | Mar 2024 ₹-28 Cr | Jun 2024 ₹0 Cr | Sep 2024 ₹-23 Cr | Dec 2024 ₹-18 Cr | Mar 2025 ₹-25 Cr | Jun 2025 ₹-14 Cr | Sep 2025 ₹-12 Cr | Dec 2025 ₹-20 Cr | Mar 2026 ₹-7 Cr | Jun 2026 — | Sep 2026 — - OSS: Dec 2021 ₹0 Cr | Mar 2022 ₹1 Cr | Jun 2022 ₹0 Cr | Sep 2022 ₹0 Cr | Dec 2022 ₹-3 Cr | Mar 2023 ₹0 Cr | Jun 2023 ₹-2 Cr | Sep 2023 ₹-4 Cr | Dec 2023 ₹0 Cr | Mar 2024 ₹-1 Cr | Jun 2024 ₹-2 Cr | Sep 2024 ₹-7 Cr | Dec 2024 ₹-3 Cr | Mar 2025 ₹-2 Cr | Jun 2025 ₹-2 Cr | Sep 2025 ₹0 Cr | Dec 2025 ₹2 Cr | Mar 2026 ₹0 Cr | Jun 2026 — | Sep 2026 — - NNDM: Dec 2021 ₹-168 Cr | Mar 2022 ₹-33 Cr | Jun 2022 ₹-40 Cr | Sep 2022 ₹-67 Cr | Dec 2022 ₹-88 Cr | Mar 2023 ₹22 Cr | Jun 2023 ₹-9 Cr | Sep 2023 ₹-67 Cr | Dec 2023 ₹-1 Cr | Mar 2024 ₹-35 Cr | Jun 2024 ₹-45 Cr | Sep 2024 ₹-9 Cr | Dec 2024 ₹-9 Cr | Mar 2025 ₹-26 Cr | Jun 2025 ₹-181 Cr | Sep 2025 ₹-53 Cr | Dec 2025 ₹-34 Cr | Mar 2026 ₹-70 Cr | Jun 2026 — | Sep 2026 — - ALOT: Dec 2021 ₹0 Cr | Mar 2022 ₹-1 Cr | Jun 2022 ₹0 Cr | Sep 2022 ₹1 Cr | Dec 2022 ₹0 Cr | Mar 2023 ₹1 Cr | Jun 2023 ₹1 Cr | Sep 2023 ₹-2 Cr | Dec 2023 ₹3 Cr | Mar 2024 ₹3 Cr | Jun 2024 ₹1 Cr | Sep 2024 ₹0 Cr | Dec 2024 ₹0 Cr | Mar 2025 ₹-16 Cr | Jun 2025 ₹0 Cr | Sep 2025 ₹-1 Cr | Dec 2025 ₹0 Cr | Mar 2026 ₹-1 Cr | Jun 2026 ₹1 Cr | Sep 2026 — - BGIN: Dec 2021 ₹1 Cr | Mar 2022 — | Jun 2022 ₹5 Cr | Sep 2022 — | Dec 2022 ₹-5 Cr | Mar 2023 — | Jun 2023 ₹1 Cr | Sep 2023 — | Dec 2023 ₹138 Cr | Mar 2024 — | Jun 2024 ₹64 Cr | Sep 2024 — | Dec 2024 ₹3 Cr | Mar 2025 — | Jun 2025 ₹-60 Cr | Sep 2025 — | Dec 2025 ₹-117 Cr | Mar 2026 — | Jun 2026 — | Sep 2026 — - DPRO: Dec 2021 ₹13 Cr | Mar 2022 ₹-6 Cr | Jun 2022 ₹0 Cr | Sep 2022 ₹-5 Cr | Dec 2022 ₹-17 Cr | Mar 2023 ₹-7 Cr | Jun 2023 ₹-7 Cr | Sep 2023 ₹-5 Cr | Dec 2023 ₹-4 Cr | Mar 2024 ₹-2 Cr | Jun 2024 ₹-7 Cr | Sep 2024 ₹0 Cr | Dec 2024 ₹-5 Cr | Mar 2025 ₹-3 Cr | Jun 2025 ₹-5 Cr | Sep 2025 ₹-5 Cr | Dec 2025 ₹-10 Cr | Mar 2026 ₹-6 Cr | Jun 2026 — | Sep 2026 — - CAN: Dec 2021 ₹188 Cr | Mar 2022 ₹70 Cr | Jun 2022 ₹91 Cr | Sep 2022 ₹6 Cr | Dec 2022 ₹-88 Cr | Mar 2023 ₹-84 Cr | Jun 2023 ₹-111 Cr | Sep 2023 ₹-80 Cr | Dec 2023 ₹-139 Cr | Mar 2024 ₹-39 Cr | Jun 2024 ₹-42 Cr | Sep 2024 ₹-76 Cr | Dec 2024 ₹-93 Cr | Mar 2025 ₹-86 Cr | Jun 2025 ₹-11 Cr | Sep 2025 ₹-28 Cr | Dec 2025 ₹-85 Cr | Mar 2026 ₹-89 Cr | Jun 2026 — | Sep 2026 — - AMCI: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 ₹1 Cr | Jun 2023 ₹1 Cr | Sep 2023 ₹1 Cr | Dec 2023 — | Mar 2024 ₹0 Cr | Jun 2024 ₹0 Cr | Sep 2024 ₹-1 Cr | Dec 2024 ₹1 Cr | Mar 2025 ₹0 Cr | Jun 2025 ₹-1 Cr | Sep 2025 ₹1 Cr | Dec 2025 ₹-25 Cr | Mar 2026 — | Jun 2026 — | Sep 2026 — ### 20-quarter Profit growth history - DELL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -43% | Dec 2022 -94% | Mar 2023 — | Jun 2023 -46% | Sep 2023 -10% | Dec 2023 317% | Mar 2024 91% | Jun 2024 72% | Sep 2024 94% | Dec 2024 17% | Mar 2025 32% | Jun 2025 -2.7% | Sep 2025 32% | Dec 2025 32% | Mar 2026 47% | Jun 2026 256% | Sep 2026 — - ANET: Dec 2021 — | Mar 2022 — | Jun 2022 52% | Sep 2022 58% | Dec 2022 79% | Mar 2023 60% | Jun 2023 65% | Sep 2023 54% | Dec 2023 44% | Mar 2024 46% | Jun 2024 35% | Sep 2024 37% | Dec 2024 30% | Mar 2025 28% | Jun 2025 34% | Sep 2025 14% | Dec 2025 19% | Mar 2026 26% | Jun 2026 — | Sep 2026 — - SNDK: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 -7,259% | Jun 2025 -119% | Sep 2025 — | Dec 2025 7.7% | Mar 2026 — | Jun 2026 — | Sep 2026 — - STX: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -43% | Dec 2022 -106% | Mar 2023 — | Jun 2023 -127% | Sep 2023 -167% | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 1,260% | Jun 2025 -4.9% | Sep 2025 — | Dec 2025 63% | Mar 2026 74% | Jun 2026 53% | Sep 2026 — - WDC: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -44% | Dec 2022 -174% | Mar 2023 — | Jun 2023 -2,936% | Sep 2023 -297% | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 154% | Mar 2026 139% | Jun 2026 1,172% | Sep 2026 — - P: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 393% | Jun 2023 — | Sep 2023 -164% | Dec 2023 — | Mar 2024 -12% | Jun 2024 — | Sep 2024 — | Dec 2024 -8.6% | Mar 2025 -35% | Jun 2025 — | Sep 2025 31% | Dec 2025 -14% | Mar 2026 138% | Jun 2026 — | Sep 2026 — - HPQ: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 1.3% | Dec 2022 -101% | Mar 2023 -57% | Jun 2023 5.4% | Sep 2023 -32% | Dec 2023 — | Mar 2024 33% | Jun 2024 -42% | Sep 2024 -16% | Dec 2024 -7.0% | Mar 2025 -9.2% | Jun 2025 -33% | Sep 2025 19% | Dec 2025 -12% | Mar 2026 -3.5% | Jun 2026 11% | Sep 2026 — - SMCI: Dec 2021 — | Mar 2022 — | Jun 2022 259% | Sep 2022 640% | Dec 2022 324% | Mar 2023 13% | Jun 2023 39% | Sep 2023 -15% | Dec 2023 65% | Mar 2024 362% | Jun 2024 54% | Sep 2024 170% | Dec 2024 8.2% | Mar 2025 -73% | Jun 2025 -32% | Sep 2025 -60% | Dec 2025 26% | Mar 2026 344% | Jun 2026 — | Sep 2026 — - LOGI: Dec 2021 — | Mar 2022 — | Jun 2022 -46% | Sep 2022 -41% | Dec 2022 -33% | Mar 2023 -62% | Jun 2023 -38% | Sep 2023 67% | Dec 2023 75% | Mar 2024 310% | Jun 2024 125% | Sep 2024 5.8% | Dec 2024 -18% | Mar 2025 -14% | Jun 2025 2.8% | Sep 2025 18% | Dec 2025 26% | Mar 2026 -0.7% | Jun 2026 — | Sep 2026 — - RGTI: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 -23% | Jun 2026 — | Sep 2026 — - QUBT: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 -124% | Jun 2026 — | Sep 2026 — - CRSR: Dec 2021 — | Mar 2022 — | Jun 2022 -286% | Sep 2022 -400% | Dec 2022 -72% | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 14% | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 -63% | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 767% | Mar 2026 — | Jun 2026 — | Sep 2026 — - CRCT: Dec 2021 — | Mar 2022 — | Jun 2022 -71% | Sep 2022 -60% | Dec 2022 -8.3% | Mar 2023 -63% | Jun 2023 14% | Sep 2023 42% | Dec 2023 0.0% | Mar 2024 122% | Jun 2024 25% | Sep 2024 -35% | Dec 2024 9.1% | Mar 2025 20% | Jun 2025 20% | Sep 2025 91% | Dec 2025 -33% | Mar 2026 -17% | Jun 2026 — | Sep 2026 — - SSYS: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 -347% | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 — - DDD: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -113% | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 — - VELO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 -118% | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 — - OSS: Dec 2021 — | Mar 2022 — | Jun 2022 -100% | Sep 2022 -100% | Dec 2022 — | Mar 2023 -100% | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 — - NNDM: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 -259% | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 — - ALOT: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -86% | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 -300% | Dec 2023 — | Mar 2024 200% | Jun 2024 0.0% | Sep 2024 — | Dec 2024 -100% | Mar 2025 -633% | Jun 2025 -100% | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 — - BGIN: Dec 2021 — | Mar 2022 — | Jun 2022 -29% | Sep 2022 — | Dec 2022 -600% | Mar 2023 — | Jun 2023 -80% | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 6,300% | Sep 2024 — | Dec 2024 -98% | Mar 2025 — | Jun 2025 -194% | Sep 2025 — | Dec 2025 -4,000% | Mar 2026 — | Jun 2026 — | Sep 2026 — - DPRO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -121% | Dec 2022 -231% | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 — - CAN: Dec 2021 — | Mar 2022 — | Jun 2022 139% | Sep 2022 -92% | Dec 2022 -147% | Mar 2023 -220% | Jun 2023 -222% | Sep 2023 -1,433% | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 — - AMCI: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 -100% | Jun 2024 -100% | Sep 2024 -200% | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 -2,600% | Mar 2026 — | Jun 2026 — | Sep 2026 — ## Return On Capital Employed What the numbers say: Sandisk Corporation leads ROCE at 30.7%, 5.2 percentage points above Seagate Technology Holdings plc. Draganfly Inc. has the strongest latest improvement at +800.2 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability. Investor read: Sandisk Corporation sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it. This conclusion weakens if: The next two comparable reports reverse the current roce change signal. Evidence: Sandisk Corporation · 30.7% | 20.4% versus #2 · Seagate Technology Holdings plc | 5/8 recent comparable periods | 28/29 companies · 484 observations Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability. ### ROCE — highest 1. Sandisk Corporation (SNDK): 31% 2. Seagate Technology Holdings plc (STX): 26% 3. Braiin Limited (BRAI): 11% — older report 4. Western Digital Corporation (WDC): 11% 5. Logitech International S.A. (LOGI): 9.9% ### ROCE change — fastest improvers 1. Draganfly Inc. (DPRO): +800.2 pp — older report 2. Sandisk Corporation (SNDK): +30.5 pp 3. Unusual Machines, Inc. (UMAC): +12.3 pp — older report 4. Velo3D, Inc. (VELO): +8.9 pp — older report 5. Seagate Technology Holdings plc (STX): +7.2 pp ### 20-quarter ROCE history - DELL: Dec 2021 1.6% | Mar 2022 3.0% | Jun 2022 3.0% | Sep 2022 2.5% | Dec 2022 3.6% | Mar 2023 3.2% | Jun 2023 2.9% | Sep 2023 3.4% | Dec 2023 4.4% | Mar 2024 4.2% | Jun 2024 2.8% | Sep 2024 4.3% | Dec 2024 5.1% | Mar 2025 6.4% | Jun 2025 3.4% | Sep 2025 5.5% | Dec 2025 6.1% | Mar 2026 8.7% | Jun 2026 9.5% | Sep 2026 — - ANET: Dec 2021 6.2% | Mar 2022 6.3% | Jun 2022 8.2% | Sep 2022 8.8% | Dec 2022 9.3% | Mar 2023 9.1% | Jun 2023 9.6% | Sep 2023 9.9% | Dec 2023 9.5% | Mar 2024 9.0% | Jun 2024 8.7% | Sep 2024 8.9% | Dec 2024 8.3% | Mar 2025 8.5% | Jun 2025 9.0% | Sep 2025 8.2% | Dec 2025 8.1% | Mar 2026 8.7% | Jun 2026 — | Sep 2026 — - SNDK: Dec 2021 — | Mar 2022 — | Jun 2022 0.0% | Sep 2022 0.0% | Dec 2022 — | Mar 2023 -3.9% | Jun 2023 -4.7% | Sep 2023 -4.3% | Dec 2023 -2.2% | Mar 2024 0.6% | Jun 2024 1.7% | Sep 2024 2.5% | Dec 2024 1.7% | Mar 2025 -17% | Jun 2025 0.2% | Sep 2025 — | Dec 2025 1.5% | Mar 2026 9.0% | Jun 2026 31% | Sep 2026 — - STX: Dec 2021 9.8% | Mar 2022 — | Jun 2022 7.2% | Sep 2022 6.5% | Dec 2022 -2.8% | Mar 2023 -5.9% | Jun 2023 0.5% | Sep 2023 -2.5% | Dec 2023 2.5% | Mar 2024 3.4% | Jun 2024 6.5% | Sep 2024 8.5% | Dec 2024 10% | Mar 2025 9.4% | Jun 2025 11% | Sep 2025 — | Dec 2025 15% | Mar 2026 17% | Jun 2026 19% | Sep 2026 26% - WDC: Dec 2021 3.6% | Mar 2022 — | Jun 2022 1.5% | Sep 2022 2.7% | Dec 2022 -1.5% | Mar 2023 -2.3% | Jun 2023 -3.2% | Sep 2023 -3.1% | Dec 2023 -1.0% | Mar 2024 0.5% | Jun 2024 -0.5% | Sep 2024 1.8% | Dec 2024 2.8% | Mar 2025 4.9% | Jun 2025 5.1% | Sep 2025 — | Dec 2025 5.7% | Mar 2026 5.8% | Jun 2026 11% | Sep 2026 — - P: Dec 2021 -0.9% | Mar 2022 1.4% | Jun 2022 -0.3% | Sep 2022 0.8% | Dec 2022 0.5% | Mar 2023 3.2% | Jun 2023 -4.4% | Sep 2023 -0.4% | Dec 2023 4.0% | Mar 2024 2.8% | Jun 2024 -2.0% | Sep 2024 1.2% | Dec 2024 2.6% | Mar 2025 1.8% | Jun 2025 -1.3% | Sep 2025 0.2% | Dec 2025 2.1% | Mar 2026 3.4% | Jun 2026 0.8% | Sep 2026 — - HPQ: Dec 2021 14% | Mar 2022 18% | Jun 2022 15% | Sep 2022 12% | Dec 2022 6.8% | Mar 2023 7.5% | Jun 2023 6.4% | Sep 2023 8.0% | Dec 2023 8.2% | Mar 2024 8.1% | Jun 2024 7.6% | Sep 2024 8.4% | Dec 2024 8.3% | Mar 2025 7.2% | Jun 2025 5.3% | Sep 2025 6.2% | Dec 2025 8.1% | Mar 2026 6.4% | Jun 2026 4.9% | Sep 2026 — - SMCI: Dec 2021 3.8% | Mar 2022 6.4% | Jun 2022 11% | Sep 2022 14% | Dec 2022 12% | Mar 2023 5.4% | Jun 2023 11% | Sep 2023 7.8% | Dec 2023 13% | Mar 2024 8.2% | Jun 2024 5.9% | Sep 2024 9.7% | Dec 2024 6.3% | Mar 2025 1.8% | Jun 2025 2.4% | Sep 2025 1.8% | Dec 2025 4.5% | Mar 2026 5.1% | Jun 2026 — | Sep 2026 — - IONQ: Dec 2021 -3.1% | Mar 2022 -4.0% | Jun 2022 -4.2% | Sep 2022 -4.1% | Dec 2022 -3.9% | Mar 2023 -4.7% | Jun 2023 -5.7% | Sep 2023 -7.5% | Dec 2023 -10% | Mar 2024 -9.8% | Jun 2024 -9.4% | Sep 2024 -11% | Dec 2024 -16% | Mar 2025 -12% | Jun 2025 -18% | Sep 2025 -7.3% | Dec 2025 -6.7% | Mar 2026 -7.4% | Jun 2026 — | Sep 2026 — - LOGI: Dec 2021 11% | Mar 2022 5.1% | Jun 2022 4.5% | Sep 2022 5.2% | Dec 2022 6.9% | Mar 2023 1.5% | Jun 2023 3.1% | Sep 2023 6.6% | Dec 2023 8.9% | Mar 2024 5.2% | Jun 2024 6.1% | Sep 2024 6.7% | Dec 2024 9.6% | Mar 2025 4.3% | Jun 2025 6.4% | Sep 2025 7.9% | Dec 2025 11% | Mar 2026 5.5% | Jun 2026 9.9% | Sep 2026 — - QBTS: Dec 2021 -40% | Mar 2022 1,784% | Jun 2022 2,020% | Sep 2022 -78% | Dec 2022 -141% | Mar 2023 -576% | Jun 2023 439% | Sep 2023 -79% | Dec 2023 -56% | Mar 2024 -75% | Jun 2024 -379% | Sep 2024 -82% | Dec 2024 -19% | Mar 2025 -6.5% | Jun 2025 -6.3% | Sep 2025 -6.3% | Dec 2025 -6.5% | Mar 2026 -7.4% | Jun 2026 — | Sep 2026 — - RGTI: Dec 2021 -29% | Mar 2022 -8.7% | Jun 2022 -9.2% | Sep 2022 -12% | Dec 2022 -24% | Mar 2023 -11% | Jun 2023 -9.0% | Sep 2023 -9.9% | Dec 2023 -11% | Mar 2024 -11% | Jun 2024 -11% | Sep 2024 -13% | Dec 2024 -9.2% | Mar 2025 -11% | Jun 2025 -5.2% | Sep 2025 -5.4% | Dec 2025 -4.9% | Mar 2026 -6.1% | Jun 2026 — | Sep 2026 — - QUBT: Dec 2021 -30% | Mar 2022 -52% | Jun 2022 -9.4% | Sep 2022 -13% | Dec 2022 -41% | Mar 2023 -14% | Jun 2023 -8.3% | Sep 2023 -7.6% | Dec 2023 -11% | Mar 2024 -8.3% | Jun 2024 -7.0% | Sep 2024 -7.0% | Dec 2024 -8.2% | Mar 2025 -5.3% | Jun 2025 -4.1% | Sep 2025 -2.1% | Dec 2025 -2.5% | Mar 2026 -2.2% | Jun 2026 — | Sep 2026 — - UMAC: Dec 2021 -4.2% | Mar 2022 — | Jun 2022 — | Sep 2022 -8.1% | Dec 2022 -13% | Mar 2023 -45% | Jun 2023 -40% | Sep 2023 -13% | Dec 2023 7.5% | Mar 2024 -8.3% | Jun 2024 -12% | Sep 2024 -12% | Dec 2024 -155% | Mar 2025 -16% | Jun 2025 -19% | Sep 2025 -7.7% | Dec 2025 -10% | Mar 2026 -4.1% | Jun 2026 — | Sep 2026 — - CRSR: Dec 2021 3.0% | Mar 2022 -0.3% | Jun 2022 -6.2% | Sep 2022 -1.3% | Dec 2022 1.5% | Mar 2023 0.1% | Jun 2023 -0.3% | Sep 2023 -0.1% | Dec 2023 1.3% | Mar 2024 -1.1% | Jun 2024 -2.7% | Sep 2024 -2.3% | Dec 2024 0.7% | Mar 2025 -0.3% | Jun 2025 -2.0% | Sep 2025 -0.7% | Dec 2025 3.2% | Mar 2026 1.7% | Jun 2026 — | Sep 2026 — - BRAI: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 0.0% | Jun 2023 0.0% | Sep 2023 — | Dec 2023 — | Mar 2024 23% | Jun 2024 23% | Sep 2024 21% | Dec 2024 21% | Mar 2025 11% | Jun 2025 11% | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 — - CRCT: Dec 2021 5.5% | Mar 2022 4.9% | Jun 2022 2.9% | Sep 2022 2.4% | Dec 2022 1.6% | Mar 2023 1.5% | Jun 2023 3.1% | Sep 2023 3.6% | Dec 2023 2.6% | Mar 2024 3.9% | Jun 2024 5.5% | Sep 2024 2.0% | Dec 2024 2.7% | Mar 2025 5.4% | Jun 2025 7.6% | Sep 2025 5.2% | Dec 2025 3.3% | Mar 2026 5.2% | Jun 2026 — | Sep 2026 — - SSYS: Dec 2021 -1.7% | Mar 2022 -1.8% | Jun 2022 -2.2% | Sep 2022 -1.5% | Dec 2022 0.2% | Mar 2023 -1.6% | Jun 2023 -3.3% | Sep 2023 -4.2% | Dec 2023 0.6% | Mar 2024 -2.5% | Jun 2024 -2.7% | Sep 2024 -2.7% | Dec 2024 -1.1% | Mar 2025 -1.4% | Jun 2025 -1.8% | Sep 2025 -2.5% | Dec 2025 -2.3% | Mar 2026 -3.0% | Jun 2026 — | Sep 2026 — - DDD: Dec 2021 -0.4% | Mar 2022 -2.4% | Jun 2022 -3.4% | Sep 2022 -3.2% | Dec 2022 -2.1% | Mar 2023 -2.5% | Jun 2023 -2.4% | Sep 2023 -1.1% | Dec 2023 -31% | Mar 2024 -4.0% | Jun 2024 -2.7% | Sep 2024 -20% | Dec 2024 -4.6% | Mar 2025 -6.4% | Jun 2025 -2.7% | Sep 2025 -4.5% | Dec 2025 -5.2% | Mar 2026 -1.6% | Jun 2026 — | Sep 2026 — - QMCO: Dec 2021 -20% | Mar 2022 -19% | Jun 2022 -14% | Sep 2022 -16% | Dec 2022 7.2% | Mar 2023 -14% | Jun 2023 -7.0% | Sep 2023 -21% | Dec 2023 -31% | Mar 2024 421% | Jun 2024 -40% | Sep 2024 140% | Dec 2024 8.6% | Mar 2025 14% | Jun 2025 68% | Sep 2025 22% | Dec 2025 1.2% | Mar 2026 3.4% | Jun 2026 — | Sep 2026 — - VELO: Dec 2021 -14% | Mar 2022 -9.8% | Jun 2022 -9.5% | Sep 2022 -12% | Dec 2022 -11% | Mar 2023 -12% | Jun 2023 -14% | Sep 2023 -16% | Dec 2023 -41% | Mar 2024 -17% | Jun 2024 -17% | Sep 2024 -21% | Dec 2024 -22% | Mar 2025 -19% | Jun 2025 -23% | Sep 2025 -21% | Dec 2025 -21% | Mar 2026 -9.9% | Jun 2026 — | Sep 2026 — - OSS: Dec 2021 -0.2% | Mar 2022 1.5% | Jun 2022 0.9% | Sep 2022 0.4% | Dec 2022 0.8% | Mar 2023 -0.4% | Jun 2023 -7.5% | Sep 2023 -9.0% | Dec 2023 -0.8% | Mar 2024 -3.0% | Jun 2024 -5.5% | Sep 2024 -18% | Dec 2024 -8.9% | Mar 2025 -7.0% | Jun 2025 -5.3% | Sep 2025 1.8% | Dec 2025 5.1% | Mar 2026 -1.8% | Jun 2026 — | Sep 2026 — - NNDM: Dec 2021 -17% | Mar 2022 -2.4% | Jun 2022 -2.3% | Sep 2022 -2.5% | Dec 2022 -5.8% | Mar 2023 -2.5% | Jun 2023 -2.5% | Sep 2023 -3.2% | Dec 2023 -2.5% | Mar 2024 -1.8% | Jun 2024 -2.1% | Sep 2024 -2.1% | Dec 2024 -2.8% | Mar 2025 -4.7% | Jun 2025 -5.0% | Sep 2025 -4.4% | Dec 2025 -3.5% | Mar 2026 -9.5% | Jun 2026 — | Sep 2026 — - ALOT: Dec 2021 0.3% | Mar 2022 -0.2% | Jun 2022 0.8% | Sep 2022 1.3% | Dec 2022 1.4% | Mar 2023 2.1% | Jun 2023 1.5% | Sep 2023 -1.2% | Dec 2023 4.6% | Mar 2024 3.8% | Jun 2024 1.3% | Sep 2024 0.9% | Dec 2024 1.1% | Mar 2025 -12% | Jun 2025 0.6% | Sep 2025 -0.6% | Dec 2025 1.2% | Mar 2026 0.1% | Jun 2026 1.6% | Sep 2026 — - BGIN: Dec 2021 12% | Mar 2022 38% | Jun 2022 38% | Sep 2022 -32% | Dec 2022 -32% | Mar 2023 9.7% | Jun 2023 9.7% | Sep 2023 108% | Dec 2023 108% | Mar 2024 35% | Jun 2024 35% | Sep 2024 1.4% | Dec 2024 1.4% | Mar 2025 -17% | Jun 2025 -17% | Sep 2025 -43% | Dec 2025 -43% | Mar 2026 — | Jun 2026 — | Sep 2026 — - DPRO: Dec 2021 -55% | Mar 2022 -68% | Jun 2022 -78% | Sep 2022 -85% | Dec 2022 -221% | Mar 2023 -167% | Jun 2023 -290% | Sep 2023 -578% | Dec 2023 -2,393% | Mar 2024 -847% | Jun 2024 709% | Sep 2024 -289% | Dec 2024 -281% | Mar 2025 -816% | Jun 2025 -65% | Sep 2025 -23% | Dec 2025 -22% | Mar 2026 -16% | Jun 2026 — | Sep 2026 — - CAN: Dec 2021 61% | Mar 2022 25% | Jun 2022 20% | Sep 2022 -2.0% | Dec 2022 -21% | Mar 2023 -14% | Jun 2023 -21% | Sep 2023 -21% | Dec 2023 -19% | Mar 2024 -14% | Jun 2024 -11% | Sep 2024 -16% | Dec 2024 -17% | Mar 2025 -11% | Jun 2025 -7.1% | Sep 2025 -6.4% | Dec 2025 -6.2% | Mar 2026 -16% | Jun 2026 — | Sep 2026 — - AMCI: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 -0.8% | Dec 2023 0.0% | Mar 2024 -0.9% | Jun 2024 -0.6% | Sep 2024 -2.2% | Dec 2024 2.0% | Mar 2025 -0.5% | Jun 2025 -3.9% | Sep 2025 2.5% | Dec 2025 7.2% | Mar 2026 — | Jun 2026 — | Sep 2026 — ### 20-quarter ROCE change history - DELL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +2.0 pp | Mar 2023 +0.2 pp | Jun 2023 −0.1 pp | Sep 2023 +0.9 pp | Dec 2023 +0.8 pp | Mar 2024 +1.0 pp | Jun 2024 −0.1 pp | Sep 2024 +0.9 pp | Dec 2024 +0.7 pp | Mar 2025 +2.2 pp | Jun 2025 +0.6 pp | Sep 2025 +1.2 pp | Dec 2025 +1.0 pp | Mar 2026 +2.3 pp | Jun 2026 +6.1 pp | Sep 2026 — - ANET: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +3.1 pp | Mar 2023 +2.8 pp | Jun 2023 +1.4 pp | Sep 2023 +1.1 pp | Dec 2023 +0.2 pp | Mar 2024 −0.1 pp | Jun 2024 −0.9 pp | Sep 2024 −1.0 pp | Dec 2024 −1.2 pp | Mar 2025 −0.5 pp | Jun 2025 +0.3 pp | Sep 2025 −0.7 pp | Dec 2025 −0.2 pp | Mar 2026 +0.2 pp | Jun 2026 — | Sep 2026 — - SNDK: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 −4.7 pp | Sep 2023 −4.3 pp | Dec 2023 — | Mar 2024 +4.5 pp | Jun 2024 +6.4 pp | Sep 2024 +6.8 pp | Dec 2024 +3.9 pp | Mar 2025 −17.1 pp | Jun 2025 −1.5 pp | Sep 2025 — | Dec 2025 −0.2 pp | Mar 2026 +25.5 pp | Jun 2026 +30.5 pp | Sep 2026 — - STX: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −12.6 pp | Mar 2023 — | Jun 2023 −6.7 pp | Sep 2023 −9.0 pp | Dec 2023 +5.3 pp | Mar 2024 +9.3 pp | Jun 2024 +6.0 pp | Sep 2024 +11.0 pp | Dec 2024 +7.7 pp | Mar 2025 +6.0 pp | Jun 2025 +4.8 pp | Sep 2025 — | Dec 2025 +5.0 pp | Mar 2026 +7.6 pp | Jun 2026 +7.2 pp | Sep 2026 — - WDC: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −5.1 pp | Mar 2023 — | Jun 2023 −4.7 pp | Sep 2023 −5.8 pp | Dec 2023 +0.5 pp | Mar 2024 +2.8 pp | Jun 2024 +2.7 pp | Sep 2024 +4.9 pp | Dec 2024 +3.8 pp | Mar 2025 +4.4 pp | Jun 2025 +5.6 pp | Sep 2025 — | Dec 2025 +2.9 pp | Mar 2026 +0.9 pp | Jun 2026 +5.9 pp | Sep 2026 — - P: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +1.4 pp | Mar 2023 +1.8 pp | Jun 2023 −4.1 pp | Sep 2023 −1.2 pp | Dec 2023 +3.5 pp | Mar 2024 −0.4 pp | Jun 2024 +2.4 pp | Sep 2024 +1.6 pp | Dec 2024 −1.4 pp | Mar 2025 −1.0 pp | Jun 2025 +0.7 pp | Sep 2025 −1.0 pp | Dec 2025 −0.5 pp | Mar 2026 +1.6 pp | Jun 2026 +2.1 pp | Sep 2026 — - HPQ: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −7.6 pp | Mar 2023 −10.0 pp | Jun 2023 −8.2 pp | Sep 2023 −4.4 pp | Dec 2023 +1.4 pp | Mar 2024 +0.6 pp | Jun 2024 +1.2 pp | Sep 2024 +0.4 pp | Dec 2024 +0.1 pp | Mar 2025 −0.9 pp | Jun 2025 −2.3 pp | Sep 2025 −2.2 pp | Dec 2025 −0.2 pp | Mar 2026 −0.8 pp | Jun 2026 −0.4 pp | Sep 2026 — - SMCI: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +8.0 pp | Mar 2023 −1.0 pp | Jun 2023 +0.2 pp | Sep 2023 −5.7 pp | Dec 2023 +1.5 pp | Mar 2024 +2.8 pp | Jun 2024 −5.3 pp | Sep 2024 +1.9 pp | Dec 2024 −7.0 pp | Mar 2025 −6.4 pp | Jun 2025 −3.5 pp | Sep 2025 −7.9 pp | Dec 2025 −1.8 pp | Mar 2026 +3.3 pp | Jun 2026 — | Sep 2026 — - IONQ: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −0.8 pp | Mar 2023 −0.7 pp | Jun 2023 −1.5 pp | Sep 2023 −3.4 pp | Dec 2023 −6.1 pp | Mar 2024 −5.1 pp | Jun 2024 −3.7 pp | Sep 2024 −3.1 pp | Dec 2024 −5.7 pp | Mar 2025 −1.7 pp | Jun 2025 −8.9 pp | Sep 2025 +3.3 pp | Dec 2025 +9.0 pp | Mar 2026 +4.1 pp | Jun 2026 — | Sep 2026 — - LOGI: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −3.8 pp | Mar 2023 −3.6 pp | Jun 2023 −1.4 pp | Sep 2023 +1.4 pp | Dec 2023 +2.0 pp | Mar 2024 +3.7 pp | Jun 2024 +3.0 pp | Sep 2024 +0.1 pp | Dec 2024 +0.7 pp | Mar 2025 −0.9 pp | Jun 2025 +0.3 pp | Sep 2025 +1.2 pp | Dec 2025 +1.6 pp | Mar 2026 +1.2 pp | Jun 2026 +3.5 pp | Sep 2026 — - QBTS: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −100.7 pp | Mar 2023 −2,359.9 pp | Jun 2023 −1,581.5 pp | Sep 2023 −1.2 pp | Dec 2023 +84.4 pp | Mar 2024 +501.7 pp | Jun 2024 −817.2 pp | Sep 2024 −3.1 pp | Dec 2024 +37.5 pp | Mar 2025 +68.2 pp | Jun 2025 +372.4 pp | Sep 2025 +75.6 pp | Dec 2025 +12.1 pp | Mar 2026 −0.9 pp | Jun 2026 — | Sep 2026 — - RGTI: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +4.3 pp | Mar 2023 −2.5 pp | Jun 2023 +0.2 pp | Sep 2023 +1.7 pp | Dec 2023 +13.2 pp | Mar 2024 0.0 pp | Jun 2024 −2.4 pp | Sep 2024 −2.6 pp | Dec 2024 +1.8 pp | Mar 2025 +0.2 pp | Jun 2025 +6.2 pp | Sep 2025 +7.1 pp | Dec 2025 +4.3 pp | Mar 2026 +4.9 pp | Jun 2026 — | Sep 2026 — - QUBT: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −10.4 pp | Mar 2023 +38.4 pp | Jun 2023 +1.1 pp | Sep 2023 +5.8 pp | Dec 2023 +29.5 pp | Mar 2024 +5.4 pp | Jun 2024 +1.3 pp | Sep 2024 +0.6 pp | Dec 2024 +2.8 pp | Mar 2025 +3.0 pp | Jun 2025 +2.9 pp | Sep 2025 +4.9 pp | Dec 2025 +5.7 pp | Mar 2026 +3.1 pp | Jun 2026 — | Sep 2026 — - UMAC: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −8.9 pp | Mar 2023 — | Jun 2023 — | Sep 2023 −4.7 pp | Dec 2023 +20.6 pp | Mar 2024 +36.6 pp | Jun 2024 +27.9 pp | Sep 2024 +0.8 pp | Dec 2024 −162.7 pp | Mar 2025 −8.1 pp | Jun 2025 −7.0 pp | Sep 2025 +4.3 pp | Dec 2025 +145.2 pp | Mar 2026 +12.3 pp | Jun 2026 — | Sep 2026 — - CRSR: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −1.5 pp | Mar 2023 +0.4 pp | Jun 2023 +5.9 pp | Sep 2023 +1.2 pp | Dec 2023 −0.2 pp | Mar 2024 −1.2 pp | Jun 2024 −2.4 pp | Sep 2024 −2.2 pp | Dec 2024 −0.6 pp | Mar 2025 +0.8 pp | Jun 2025 +0.7 pp | Sep 2025 +1.6 pp | Dec 2025 +2.5 pp | Mar 2026 +2.0 pp | Jun 2026 — | Sep 2026 — - BRAI: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 +22.6 pp | Jun 2024 +22.6 pp | Sep 2024 — | Dec 2024 — | Mar 2025 −11.5 pp | Jun 2025 −11.5 pp | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 — - CRCT: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −3.9 pp | Mar 2023 −3.4 pp | Jun 2023 +0.2 pp | Sep 2023 +1.2 pp | Dec 2023 +1.0 pp | Mar 2024 +2.4 pp | Jun 2024 +2.4 pp | Sep 2024 −1.6 pp | Dec 2024 +0.1 pp | Mar 2025 +1.5 pp | Jun 2025 +2.1 pp | Sep 2025 +3.2 pp | Dec 2025 +0.6 pp | Mar 2026 −0.2 pp | Jun 2026 — | Sep 2026 — - SSYS: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +1.9 pp | Mar 2023 +0.2 pp | Jun 2023 −1.1 pp | Sep 2023 −2.7 pp | Dec 2023 +0.4 pp | Mar 2024 −0.9 pp | Jun 2024 +0.6 pp | Sep 2024 +1.5 pp | Dec 2024 −1.7 pp | Mar 2025 +1.1 pp | Jun 2025 +0.9 pp | Sep 2025 +0.2 pp | Dec 2025 −1.2 pp | Mar 2026 −1.6 pp | Jun 2026 — | Sep 2026 — - DDD: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −1.7 pp | Mar 2023 −0.1 pp | Jun 2023 +1.0 pp | Sep 2023 +2.1 pp | Dec 2023 −28.5 pp | Mar 2024 −1.5 pp | Jun 2024 −0.3 pp | Sep 2024 −19.3 pp | Dec 2024 +26.0 pp | Mar 2025 −2.4 pp | Jun 2025 0.0 pp | Sep 2025 +15.9 pp | Dec 2025 −0.6 pp | Mar 2026 +4.8 pp | Jun 2026 — | Sep 2026 — - QMCO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +27.2 pp | Mar 2023 +4.5 pp | Jun 2023 +6.5 pp | Sep 2023 −4.2 pp | Dec 2023 −38.6 pp | Mar 2024 +435.0 pp | Jun 2024 −32.5 pp | Sep 2024 +160.4 pp | Dec 2024 +40.0 pp | Mar 2025 −406.9 pp | Jun 2025 +107.4 pp | Sep 2025 −118.2 pp | Dec 2025 −7.4 pp | Mar 2026 −10.7 pp | Jun 2026 — | Sep 2026 — - VELO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +2.7 pp | Mar 2023 −2.1 pp | Jun 2023 −4.0 pp | Sep 2023 −4.0 pp | Dec 2023 −29.6 pp | Mar 2024 −5.2 pp | Jun 2024 −3.7 pp | Sep 2024 −5.4 pp | Dec 2024 +18.4 pp | Mar 2025 −1.7 pp | Jun 2025 −6.1 pp | Sep 2025 +0.7 pp | Dec 2025 +1.4 pp | Mar 2026 +8.9 pp | Jun 2026 — | Sep 2026 — - OSS: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +1.0 pp | Mar 2023 −1.9 pp | Jun 2023 −8.4 pp | Sep 2023 −9.4 pp | Dec 2023 −1.6 pp | Mar 2024 −2.6 pp | Jun 2024 +2.0 pp | Sep 2024 −9.4 pp | Dec 2024 −8.1 pp | Mar 2025 −4.0 pp | Jun 2025 +0.2 pp | Sep 2025 +20.2 pp | Dec 2025 +14.0 pp | Mar 2026 +5.2 pp | Jun 2026 — | Sep 2026 — - NNDM: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +10.8 pp | Mar 2023 −0.1 pp | Jun 2023 −0.2 pp | Sep 2023 −0.7 pp | Dec 2023 +3.3 pp | Mar 2024 +0.7 pp | Jun 2024 +0.4 pp | Sep 2024 +1.1 pp | Dec 2024 −0.3 pp | Mar 2025 −2.9 pp | Jun 2025 −2.9 pp | Sep 2025 −2.3 pp | Dec 2025 −0.7 pp | Mar 2026 −4.8 pp | Jun 2026 — | Sep 2026 — - ALOT: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +1.1 pp | Mar 2023 +2.3 pp | Jun 2023 +0.7 pp | Sep 2023 −2.5 pp | Dec 2023 +3.2 pp | Mar 2024 +1.7 pp | Jun 2024 −0.2 pp | Sep 2024 +2.1 pp | Dec 2024 −3.5 pp | Mar 2025 −15.9 pp | Jun 2025 −0.7 pp | Sep 2025 −1.5 pp | Dec 2025 +0.1 pp | Mar 2026 +12.2 pp | Jun 2026 +1.0 pp | Sep 2026 — - BGIN: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −44.1 pp | Mar 2023 −28.5 pp | Jun 2023 −28.5 pp | Sep 2023 +140.0 pp | Dec 2023 +140.0 pp | Mar 2024 +25.5 pp | Jun 2024 +25.5 pp | Sep 2024 −106.6 pp | Dec 2024 −106.6 pp | Mar 2025 −52.5 pp | Jun 2025 −52.5 pp | Sep 2025 −44.7 pp | Dec 2025 −44.7 pp | Mar 2026 — | Jun 2026 — | Sep 2026 — - DPRO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −166.3 pp | Mar 2023 −99.2 pp | Jun 2023 −212.5 pp | Sep 2023 −493.7 pp | Dec 2023 −2,172.1 pp | Mar 2024 −679.5 pp | Jun 2024 +998.9 pp | Sep 2024 +289.8 pp | Dec 2024 +2,111.5 pp | Mar 2025 +30.6 pp | Jun 2025 −773.9 pp | Sep 2025 +265.3 pp | Dec 2025 +259.8 pp | Mar 2026 +800.2 pp | Jun 2026 — | Sep 2026 — - CAN: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −81.8 pp | Mar 2023 −39.4 pp | Jun 2023 −40.6 pp | Sep 2023 −19.3 pp | Dec 2023 +1.5 pp | Mar 2024 +0.4 pp | Jun 2024 +9.9 pp | Sep 2024 +5.6 pp | Dec 2024 +2.0 pp | Mar 2025 +3.2 pp | Jun 2025 +4.0 pp | Sep 2025 +9.3 pp | Dec 2025 +11.1 pp | Mar 2026 −4.7 pp | Jun 2026 — | Sep 2026 — - AMCI: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 −1.4 pp | Dec 2024 +2.0 pp | Mar 2025 +0.4 pp | Jun 2025 −3.3 pp | Sep 2025 +4.7 pp | Dec 2025 +5.2 pp | Mar 2026 — | Jun 2026 — | Sep 2026 — ## Valuation Against Growth & Quality What the numbers say: Dell Technologies Inc. has the lowest comparable PEG at 0.36×, 28% below HP Inc.. Only 5 of 29 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree. Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy. This conclusion weakens if: The next two comparable reports reverse the current p/e signal. Evidence: Dell Technologies Inc. · 0.36× | 28% versus #2 · HP Inc. | 0/8 recent comparable periods | 5/29 companies · 37 observations Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing. ### PEG — lowest PEG 1. Dell Technologies Inc. (DELL): 0.4 2. HP Inc. (HPQ): 0.5 3. Cricut, Inc. (CRCT): 0.8 — older report 4. Super Micro Computer, Inc. (SMCI): 1.0 — older report 5. Arista Networks, Inc. (ANET): 1.8 — older report ### P/E — lowest P/E 1. Draganfly Inc. (DPRO): 1.3 — older report 2. Canaan Inc. (CAN): 5.1 — older report 3. 3D Systems Corporation (DDD): 7.5 — older report 4. HP Inc. (HPQ): 7.7 5. Cricut, Inc. (CRCT): 10.7 — older report ### 20-quarter PEG history - DELL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 0.4 | Mar 2024 0.5 | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 0.4 | Jun 2025 0.5 | Sep 2025 0.8 | Dec 2025 0.8 | Mar 2026 0.4 | Jun 2026 — | Sep 2026 — - ANET: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 0.7 | Mar 2024 0.8 | Jun 2024 1.1 | Sep 2024 1.2 | Dec 2024 1.4 | Mar 2025 1.1 | Jun 2025 1.3 | Sep 2025 2.1 | Dec 2025 2.0 | Mar 2026 1.8 | Jun 2026 — | Sep 2026 — - HPQ: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 0.9 | Mar 2024 0.2 | Jun 2024 0.7 | Sep 2024 0.5 | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 — - SMCI: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 0.8 | Dec 2023 1.0 | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 — - LOGI: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 1.8 | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 0.5 | Mar 2025 2.8 | Jun 2025 — | Sep 2025 — | Dec 2025 1.7 | Mar 2026 1.2 | Jun 2026 — | Sep 2026 — - CRCT: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 0.4 | Jun 2024 0.5 | Sep 2024 1.5 | Dec 2024 0.9 | Mar 2025 2.4 | Jun 2025 3.2 | Sep 2025 0.5 | Dec 2025 0.6 | Mar 2026 0.8 | Jun 2026 — | Sep 2026 — ### 20-quarter P/E history - DELL: Dec 2021 7.0 | Mar 2022 9.0 | Jun 2022 6.9 | Sep 2022 6.7 | Dec 2022 16.7 | Mar 2023 13.0 | Jun 2023 17.2 | Sep 2023 20.6 | Dec 2023 19.2 | Mar 2024 18.8 | Jun 2024 24.9 | Sep 2024 18.2 | Dec 2024 22.2 | Mar 2025 16.2 | Jun 2025 14.8 | Sep 2025 18.6 | Dec 2025 21.6 | Mar 2026 13.2 | Jun 2026 16.7 | Sep 2026 — - ANET: Dec 2021 54.7 | Mar 2022 47.6 | Jun 2022 28.9 | Sep 2022 30.8 | Dec 2022 28.4 | Mar 2023 35.0 | Jun 2023 30.0 | Sep 2023 30.7 | Dec 2023 35.7 | Mar 2024 40.3 | Jun 2024 45.4 | Sep 2024 46.1 | Dec 2024 49.6 | Mar 2025 32.8 | Jun 2025 40.3 | Sep 2025 55.4 | Dec 2025 47.7 | Mar 2026 42.1 | Jun 2026 — | Sep 2026 — - SNDK: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 24.4 | Sep 2026 — - STX: Dec 2021 12.3 | Mar 2022 — | Jun 2022 11.0 | Sep 2022 9.4 | Dec 2022 18.7 | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 65.4 | Sep 2024 28.4 | Dec 2024 16.0 | Mar 2025 12.3 | Jun 2025 20.9 | Sep 2025 — | Dec 2025 32.5 | Mar 2026 32.5 | Jun 2026 40.7 | Sep 2026 59.0 - WDC: Dec 2021 9.1 | Mar 2022 — | Jun 2022 6.3 | Sep 2022 6.7 | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 53.5 | Dec 2024 13.0 | Mar 2025 8.8 | Jun 2025 14.2 | Sep 2025 — | Dec 2025 19.3 | Mar 2026 19.0 | Jun 2026 17.7 | Sep 2026 — - P: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 758.5 | Mar 2023 130.0 | Jun 2023 754.7 | Sep 2023 — | Dec 2023 184.0 | Mar 2024 222.4 | Jun 2024 186.6 | Sep 2024 135.7 | Dec 2024 134.1 | Mar 2025 218.7 | Jun 2025 129.3 | Sep 2025 133.0 | Dec 2025 259.7 | Mar 2026 122.1 | Jun 2026 105.1 | Sep 2026 — - HPQ: Dec 2021 5.7 | Mar 2022 6.6 | Jun 2022 6.6 | Sep 2022 5.8 | Dec 2022 9.3 | Mar 2023 11.8 | Jun 2023 11.5 | Sep 2023 14.5 | Dec 2023 8.1 | Mar 2024 8.4 | Jun 2024 9.5 | Sep 2024 12.7 | Dec 2024 12.6 | Mar 2025 11.7 | Jun 2025 9.9 | Sep 2025 9.1 | Dec 2025 10.4 | Mar 2026 7.4 | Jun 2026 7.7 | Sep 2026 — - SMCI: Dec 2021 18.7 | Mar 2022 11.1 | Jun 2022 7.6 | Sep 2022 6.8 | Dec 2022 7.8 | Mar 2023 10.0 | Jun 2023 21.9 | Sep 2023 25.4 | Dec 2023 22.3 | Mar 2024 56.7 | Jun 2024 42.7 | Sep 2024 18.1 | Dec 2024 13.3 | Mar 2025 18.9 | Jun 2025 29.2 | Sep 2025 38.4 | Dec 2025 21.8 | Mar 2026 12.1 | Jun 2026 — | Sep 2026 — - LOGI: Dec 2021 18.5 | Mar 2022 19.5 | Jun 2022 15.8 | Sep 2022 15.4 | Dec 2022 23.9 | Mar 2023 26.0 | Jun 2023 29.6 | Sep 2023 29.1 | Dec 2023 31.1 | Mar 2024 23.1 | Jun 2024 22.0 | Sep 2024 20.0 | Dec 2024 19.3 | Mar 2025 20.4 | Jun 2025 21.4 | Sep 2025 24.9 | Dec 2025 21.0 | Mar 2026 19.0 | Jun 2026 17.3 | Sep 2026 — - CRSR: Dec 2021 20.8 | Mar 2022 42.3 | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 591.3 | Sep 2023 161.4 | Dec 2023 470.0 | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 69.4 | Jun 2026 — | Sep 2026 — - CRCT: Dec 2021 34.5 | Mar 2022 25.7 | Jun 2022 17.5 | Sep 2022 33.1 | Dec 2022 33.1 | Mar 2023 48.6 | Jun 2023 55.5 | Sep 2023 38.7 | Dec 2023 27.5 | Mar 2024 16.4 | Jun 2024 19.3 | Sep 2024 24.8 | Dec 2024 19.7 | Mar 2025 16.6 | Jun 2025 20.5 | Sep 2025 16.6 | Dec 2025 14.1 | Mar 2026 10.7 | Jun 2026 — | Sep 2026 — - DDD: Dec 2021 8.5 | Mar 2022 8.3 | Jun 2022 5.3 | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 9.3 | Mar 2026 7.5 | Jun 2026 — | Sep 2026 — - VELO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 44.8 | Mar 2023 16.2 | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 — - OSS: Dec 2021 41.3 | Mar 2022 25.5 | Jun 2022 49.3 | Sep 2022 80.0 | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 32.6 | Mar 2026 30.3 | Jun 2026 — | Sep 2026 — - ALOT: Dec 2021 15.0 | Mar 2022 15.6 | Jun 2022 15.7 | Sep 2022 — | Dec 2022 149.3 | Mar 2023 36.8 | Jun 2023 35.9 | Sep 2023 133.9 | Dec 2023 30.2 | Mar 2024 28.0 | Jun 2024 26.5 | Sep 2024 17.5 | Dec 2024 24.3 | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 — - DPRO: Dec 2021 -4.3 | Mar 2022 — | Jun 2022 1.3 | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 — - CAN: Dec 2021 2.9 | Mar 2022 2.0 | Jun 2022 1.1 | Sep 2022 1.6 | Dec 2022 5.1 | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 — ## What can make this comparison misleading? - A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason. - A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment. - The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed. - An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion. - 20 companies have older fundamental reporting dates than the sector’s freshest reporters; their ranks carry a stale marker. ## Every company - Dell Technologies Inc. (DELL) — market value ₹3.0 L Cr; latest fundamentals Jun 2026 - Arista Networks, Inc. (ANET) — market value ₹2.4 L Cr; latest fundamentals Mar 2026 - Sandisk Corporation (SNDK) — market value ₹2.1 L Cr; latest fundamentals Jun 2026 - Seagate Technology Holdings plc (STX) — market value ₹1.9 L Cr; latest fundamentals Sep 2026 - Western Digital Corporation (WDC) — market value ₹1.9 L Cr; latest fundamentals Jun 2026 - Everpure, Inc. (P) — market value ₹27.9K Cr; latest fundamentals Jun 2026 - HP Inc. (HPQ) — market value ₹26.4K Cr; latest fundamentals Jun 2026 - Super Micro Computer, Inc. (SMCI) — market value ₹20.5K Cr; latest fundamentals Mar 2026 - IonQ, Inc. (IONQ) — market value ₹15.6K Cr; latest fundamentals Mar 2026 - Logitech International S.A. (LOGI) — market value ₹15.4K Cr; latest fundamentals Jun 2026 - D-Wave Quantum Inc. (QBTS) — market value ₹8.1K Cr; latest fundamentals Mar 2026 - Rigetti Computing, Inc. (RGTI) — market value ₹5.8K Cr; latest fundamentals Mar 2026 - Quantum Computing Inc. (QUBT) — market value ₹2.1K Cr; latest fundamentals Mar 2026 - Unusual Machines, Inc. (UMAC) — market value ₹1.3K Cr; latest fundamentals Mar 2026 - Corsair Gaming, Inc. (CRSR) — market value ₹1.2K Cr; latest fundamentals Mar 2026 - Braiin Limited (BRAI) — market value ₹1.2K Cr; latest fundamentals Jun 2025 - Cricut, Inc. (CRCT) — market value ₹1.0K Cr; latest fundamentals Mar 2026 - Stratasys Ltd. (SSYS) — market value ₹764 Cr; latest fundamentals Mar 2026 - 3D Systems Corporation (DDD) — market value ₹591 Cr; latest fundamentals Mar 2026 - Quantum Corporation (QMCO) — market value ₹451 Cr; latest fundamentals Mar 2026 - Velo3D, Inc. (VELO) — market value ₹408 Cr; latest fundamentals Mar 2026 - One Stop Systems, Inc. (OSS) — market value ₹353 Cr; latest fundamentals Mar 2026 - Nano Dimension Ltd. (NNDM) — market value ₹331 Cr; latest fundamentals Mar 2026 - AstroNova, Inc. (ALOT) — market value ₹224 Cr; latest fundamentals Jun 2026 - Bgin Blockchain Limited (BGIN) — market value ₹204 Cr; latest fundamentals Dec 2025 - Draganfly Inc. (DPRO) — market value ₹156 Cr; latest fundamentals Mar 2026 - Canaan Inc. (CAN) — market value ₹149 Cr; latest fundamentals Mar 2026 - AMC Robotics Corporation (AMCI) — market value ₹98 Cr; latest fundamentals Dec 2025 - Virtuix Holdings Inc. (VTIX) — market value ₹96 Cr; latest fundamentals unavailable ## Methodology and freshness Fundamentals through Sep 2026; prices through 2026-08-04. Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable. ## Frequently asked questions ### Is the Computer Hardware sector outperforming S&P 500? Computer Hardware has outperformed S&P 500 by 68.2% over 52 weeks and 6% over 13 weeks. 13 of 26 covered companies beat the S&P 500 on Mansfield relative strength, while 9 of 26 beat the sector itself. ### Which Computer Hardware company is largest by revenue? Dell Technologies Inc. leads with revenue of $134,002 million, based on 21 of 29 comparable companies through Jun 2026. ### Which Computer Hardware company is growing fastest? IonQ, Inc. has the fastest current revenue growth at 100%, across 20 of 29 comparable companies. ### Which Computer Hardware company has the strongest 4-Factor Sector Score? Dell Technologies Inc. ranks first at 78.2/100 with 81.1% evidence confidence. The score prioritizes research; it is not a buy recommendation. ### Which Computer Hardware company has the lowest comparable PEG? Dell Technologies Inc. has the lowest comparable PEG at 0.36, among 5 of 29 companies whose earnings and growth are steady enough for the ratio to mean anything. ### How much history does this Computer Hardware comparison include? The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Sep 2026. Missing observations remain blank rather than being estimated. ### How is the 4-Factor Sector Score calculated? The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral. ### Which Computer Hardware company is the biggest? Dell Technologies Inc. is the largest, with trailing-twelve-month revenue of $134,002 million, ahead of HP Inc. at $57,417 million. That covers 21 of 29 companies with comparable reporting through Jun 2026. ### Which Computer Hardware company has the best profit margins? Sandisk Corporation has the highest operating margin at 69.1%, from 25 of 29 comparable companies. Quantum Computing Inc. shows the biggest recent improvement, at +20689.4 percentage points. A high margin matters most when it is holding or rising, not when it is peaking. ### Which Computer Hardware company makes the most profit? Dell Technologies Inc. earns the most, at $8,409 million of trailing-twelve-month net profit, from 22 of 29 comparable companies. Dell Technologies Inc. has the fastest profit growth at 84.8%, though growth off a small or recovering profit base overstates how much has actually changed. ### Which Computer Hardware company earns the highest return on capital? Sandisk Corporation leads on return on capital employed at 30.7%, across 28 of 29 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year. ### Which Computer Hardware stock is the cheapest? On PEG — where a LOWER number is cheaper — Dell Technologies Inc. screens cheapest at 0.36×. Only 5 of 29 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own. ### Is the Computer Hardware sector beating the market? Computer Hardware has outperformed S&P 500 by 68.2% over the last 52 weeks and 6% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 13 of 26 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it. ### Which Computer Hardware stock has the strongest price momentum? Dell Technologies Inc. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all. ### Which Computer Hardware company scores highest for research priority? Dell Technologies Inc. scores 78.2 out of 100 with 81.1% evidence confidence, from 27.9 points on growth and earnings, 15.1 on capital efficiency, 15.2 on valuation and 20 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research. ### How many Computer Hardware companies does this comparison cover, and over what period? It compares 29 listed companies over up to 20 reported quarters of fundamentals, ending Sep 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data. ### What is the total market cap of the Computer Hardware sector? The 29 Computer Hardware companies on this page carry $1,264,391 million of combined market value. Dell Technologies Inc. is the largest at $301,923 million, about 24% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-04. ### What is the Computer Hardware sector's P/E ratio? The median price-to-earnings ratio across the 29 Computer Hardware companies on this page is 17.3×, measured on the 17 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-08-04. ### How is the Computer Hardware sector performing? 13 of the 26 covered Computer Hardware companies are beating S&P 500 on Mansfield relative strength. The sector itself is 68.2% ahead of S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-04. ### How many Computer Hardware stocks are listed in the US? This comparison covers 29 listed Computer Hardware companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Sep 2026. Membership is the full industry list — nothing is dropped for having thin data. ### Why are some values on this page blank? A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad. ### Is this investment advice? No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.