DOCU
DocuSign, Inc.
DOCU's outlook is improving, though it still trails on the overall score.
MU
Micron Technology, Inc.
MU has the edge over DOCU overall, supported by stronger valuation and stronger modeled upside.
DOCU Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Strong | |
| Strong |
DOCU's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
MU Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
MU's revenue, profitability, cash flow and balance sheet are all currently strong.
DOCU PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 16x | $26.23 | -67% |
| Forward | 16x | $80.15 | — |
| Fair | 35x | $57.65 | -28% |
| Current | 49x | $80.15 | — |
| Expensive | 114x | $187 | +133% |
Historical ranges are pointers, not guarantees.
DOCU's PE is in its fair range at 49x. If earnings grow as analysts expect, today's price would be 16x next year's earnings, in its cheap range.
MU PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 4.6x | $798 | — |
| Cheap | 10x | $777 | -2.7% |
| Current | 11x | $798 | — |
| Fair | 22x | $1,646 | +106% |
| Expensive | 32x | $2,404 | +201% |
Historical ranges are pointers, not guarantees.
MU has the edge over DOCU in the historical PE scenario, which offers more potential upside but is not a forecast.
DOCU Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Moderate | |
| High |
Analysts expect earnings and revenue growth for DOCU, with profitability improving.
MU Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Broad | |
| Moderate |
Analysts expect strong earnings and revenue growth for MU, with profitability improving.
DOCU Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.06 | +208% |
| Q3 2026 | $1.64 | +26% |
| Q2 2026 | $1.54 | -71% |
| Q1 2026 | $1.48 | -71% |
| Q4 2025 | $1.40 | -71% |
| Q3 2025 | $1.30 | -73% |
| Q2 2025 | $5.26 | +912% |
| Q1 2025 | $5.08 | +1311% |
| Q4 2024 | $4.85 | +1840% |
DOCU's earnings per share have fallen from their peak: $1.64 over the past year, against $5.26 in early 2025.
MU Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $174.95 | +135% |
| Q3 2026 | $74.33 | +879% |
| Q2 2026 | $44.17 | +693% |
| Q1 2026 | $21.18 | +405% |
| Q4 2025 | $10.52 | +201% |
| Q3 2025 | $7.59 | +984% |
| Q2 2025 | $5.57 | +$6.99 |
| Q1 2025 | $4.19 | +$7.64 |
| Q4 2024 | $3.49 | +$9.77 |
MU has the edge over DOCU on earnings, with more consistent year-over-year improvement.
DOCU Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $875.7M | +9.4% |
| Q2 2026 | $830.2M | +8.7% |
| Q1 2026 | $836.9M | +7.8% |
| Q4 2025 | $818.4M | +8.4% |
| Q3 2025 | $800.6M | +8.8% |
| Q2 2025 | $763.7M | +7.6% |
| Q1 2025 | $776.3M | +9% |
| Q4 2024 | $754.8M | +7.8% |
DOCU's revenue has grown year over year every quarter since late 2020: $876M last quarter, up 9.4% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 13% | +5.3 points |
| Q2 2026 | 13% | +5.5 points |
| Q1 2026 | 10% | +2.7 points |
| Q4 2025 | 10% | +2.6 points |
| Q3 2025 | 8.2% | +0.3 points |
| Q2 2025 | 7.9% | +4.7 points |
| Q1 2025 | 7.8% | +6.4 points |
| Q4 2024 | 7.8% | +5 points |
DOCU's operating margin was 13% last quarter, up 5.3 points from the same quarter a year ago, near the top of its range since 2019.
MU Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $54.2B | +379% |
| Q2 2026 | $41.5B | +346% |
| Q1 2026 | $23.9B | +196% |
| Q4 2025 | $13.6B | +57% |
| Q3 2025 | $11.3B | +46% |
| Q2 2025 | $9.3B | +37% |
| Q1 2025 | $8.1B | +38% |
| Q4 2024 | $8.7B | +84% |
MU has the edge over DOCU on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 81% | +48 points |
| Q2 2026 | 80% | +57 points |
| Q1 2026 | 68% | +46 points |
| Q4 2025 | 45% | +20 points |
| Q3 2025 | 32% | +13 points |
| Q2 2025 | 23% | +13 points |
| Q1 2025 | 22% | +19 points |
| Q4 2024 | 25% | +49 points |
MU has the edge over DOCU on profitability, with a higher operating margin.
DOCU Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $295.8M | +36% |
| Q2 2026 | $289.4M | +27% |
| Q1 2026 | $350.2M | +25% |
| Q4 2025 | $262.9M | +25% |
| Q3 2025 | $217.6M | +10% |
| Q2 2025 | $227.8M | -1.8% |
| Q1 2025 | $279.6M | +12% |
| Q4 2024 | $210.7M | -12% |
DOCU generated $1.2B in free cash flow over the past year, up 28% from the year before.
MU Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $32.9B | +45543% |
| Q2 2026 | $17.6B | +951% |
| Q1 2026 | $5.5B | +$5.6B |
| Q4 2025 | $3B | +7853% |
| Q3 2025 | $72M | -75% |
| Q2 2025 | $1.7B | +322% |
| Q1 2025 | -$113M | +$52M |
| Q4 2024 | $38M | +$433M |
MU has the edge over DOCU on cash flow, with more consistent year-over-year improvement.
DOCU Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.7% | -3.4M shares |
| 1 year | -8.5% | -17.8M shares |
| 3 years | -7.2% | -15.1M shares |
| 5 years | -1.5% | -2.9M shares |
| Available history | +8.3% | +14.8M shares |
DOCU has the edge over MU on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $306.5M |
| Q2 2026 | $317.5M |
| Q1 2026 | $269.1M |
| Q4 2025 | $215.1M |
| Q3 2025 | $201.5M |
| Q2 2025 | $183.4M |
| Q1 2025 | $161.7M |
| Q4 2024 | $172.7M |
DOCU spent $1.1B buying back its own shares over the past year, up 54% from the year before.
MU Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -2M shares |
| 1 year | +1.6% | +18M shares |
| 3 years | +4.6% | +50M shares |
| 5 years | +0.2% | +2M shares |
| Available history | +1.2% | +14M shares |
MU has 1.1B diluted shares, up 1.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $350M |
| Q4 2025 | $300M |
| Q3 2024 | $300M |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
MU has spent almost nothing on buybacks in the past year.
DOCU Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.0x | Net Cash |
| Q2 2026 | -1.2x | Net Cash |
| Q1 2026 | -1.5x | Net Cash |
| Q4 2025 | -1.5x | Net Cash |
| Q3 2025 | -1.7x | Net Cash |
| Q2 2025 | -1.9x | Net Cash |
| Q1 2025 | -2.1x | Net Cash |
| Q4 2024 | -2.4x | Net Cash |
DOCU has the edge over MU on leverage, with a lower net debt burden relative to earnings.
MU Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.3x | Net Cash |
| Q2 2026 | -0.3x | Net Cash |
| Q1 2026 | -0.1x | Net Cash |
| Q4 2025 | 0.1x | Very low |
| Q3 2025 | 0.3x | Very low |
| Q2 2025 | 0.3x | Very low |
| Q1 2025 | 0.5x | Very low |
| Q4 2024 | 0.6x | Very low |
MU has more cash than debt.
DOCU Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 67.3 | Neutral |
| Stochastic | 80.9 | Overbought |
DOCU's weekly RSI is 67 (neutral) and its Stochastic is 81 (overbought).
MU Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 47.1 | Neutral |
| Stochastic | 26.9 | Neutral |
MU's weekly RSI is 47 (neutral) and its Stochastic is 27 (neutral).
DOCU PE vs Technology Sector
| Metric | DOCU | Sector median | Relative |
|---|---|---|---|
| PE | 49x | 28x | 75% above |
| PE % | 62 | 35 | 27 pts above |
DOCU is trading at 49x earnings, a 75% premium to the Technology sector's median of 28x.
MU PE vs Technology Sector
| Metric | MU | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 28x | 61% below |
| PE % | 18 | 35 | 17 pts below |
MU has the edge over DOCU on valuation relative to its sector.
DOCU Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $75.9 | 5.6% above |
| 20 week MA | $65.6 | 22% above |
| 50 week MA | $57.4 | 40% above |
| 100 week MA | $68.6 | 17% above |
| 200 week MA | $62.6 | 28% above |
DOCU has the edge over MU on trend strength, trading above more of its moving averages.
MU Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $914.5 | 13% below |
| 20 week MA | $931.0 | 14% below |
| 50 week MA | $685.9 | 16% above |
| 100 week MA | $405.4 | 97% above |
| 200 week MA | $246.0 | 225% above |
MU has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 225% above its 200-week average.
DOCU Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $74.4 | $244.9 | +229% |
| 2021 | $244.9 | $157.0 | -36% |
| 2022 | $157.0 | $53.9 | -66% |
| 2023 | $53.9 | $59.5 | +10% |
| 2024 | $59.5 | $93.0 | +56% |
| 2025 | $93.0 | $70.0 | -25% |
| 2026 YTD | $70.0 | $80.2 | +15% |
DOCU's yearly returns have swung widely, from +229% in 2020 to −66% in 2022. It's up 15% so far in 2026.
MU Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $54.0 | $70.6 | +31% |
| 2021 | $70.6 | $94.4 | +34% |
| 2022 | $94.4 | $50.2 | -47% |
| 2023 | $50.2 | $85.3 | +70% |
| 2024 | $85.3 | $88.6 | +3.9% |
| 2025 | $88.6 | $284.8 | +221% |
| 2026 YTD | $284.8 | $798.4 | +180% |
MU has the edge over DOCU on returns for 2026, with the stronger performance.