FN
Fabrinet
FN's outlook is improving, though it still trails on the overall score.
MU
Micron Technology, Inc.
MU has the edge over FN overall, supported by stronger valuation and stronger fundamentals.
FN Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Under pressure | |
| Strong |
FN's revenue, profitability and balance sheet are currently healthy, but its cash flow is under pressure.
MU Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
MU's revenue, profitability, cash flow and balance sheet are all currently strong.
FN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 17x | $354 | — |
| Cheap | 19x | $258 | -27% |
| Fair | 25x | $335 | -5.4% |
| Current | 27x | $354 | — |
| Expensive | 33x | $437 | +23% |
Historical ranges are pointers, not guarantees.
FN's PE is in its fair range at 27x. If earnings grow as analysts expect, today's price would be 17x 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 FN in the historical PE scenario, which offers more potential upside but is not a forecast.
FN Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Stable | |
| Limited | |
| High |
Analysts expect strong earnings and revenue growth for FN, with profitability holding steady.
MU Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Broad | |
| Moderate |
MU has the edge over FN on the outlook, with more favorable profitability expectations.
FN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $20.94 | +58% |
| Q3 2026 | $13.25 | +37% |
| Q2 2026 | $13.05 | +42% |
| Q1 2026 | $11.63 | +30% |
| Q4 2025 | $10.43 | +17% |
| Q3 2025 | $9.70 | +15% |
| Q2 2025 | $9.17 | +13% |
| Q1 2025 | $8.98 | +19% |
| Q4 2024 | $8.94 | +29% |
FN's earnings per share have climbed steadily: $13.25 over the past year, up 37% from the year before, and higher year over year every quarter since late 2020.
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's earnings per share have climbed steadily: $74.33 over the past year, about 10 times what it earned the year before, and higher year over year for 10 quarters in a row.
FN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.5B | +51% |
| Q2 2026 | $1.3B | +45% |
| Q1 2026 | $1.2B | +39% |
| Q4 2025 | $1.1B | +36% |
| Q3 2025 | $978.1M | +22% |
| Q2 2025 | $909.7M | +21% |
| Q1 2025 | $871.8M | +19% |
| Q4 2024 | $833.6M | +17% |
FN's revenue has grown year over year every quarter since late 2020: $1.5B last quarter, up 51% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 9.9% | +0.3 points |
| Q2 2026 | 10% | +0.4 points |
| Q1 2026 | 9.9% | +0.8 points |
| Q4 2025 | 10% | +0.5 points |
| Q3 2025 | 9.6% | +0.1 points |
| Q2 2025 | 9.8% | +0.1 points |
| Q1 2025 | 9.1% | -0.7 points |
| Q4 2024 | 9.6% | -0.1 points |
FN's operating margin was 9.9% last quarter, about level with the same quarter a year ago.
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 FN 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 FN on profitability, with a higher operating margin.
FN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$137.4M | -340% |
| Q2 2026 | -$36.9M | -888% |
| Q1 2026 | -$10.8M | -124% |
| Q4 2025 | -$5.3M | -106% |
| Q3 2025 | $57.3M | -8.9% |
| Q2 2025 | $4.7M | -93% |
| Q1 2025 | $45.7M | -48% |
| Q4 2024 | $94M | +26% |
FN's free cash flow has turned negative after years in the green: −$190M over the past year.
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 FN on cash generation, producing positive trailing cash flow while its opponent burns cash.
FN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -19K shares |
| 1 year | +0.4% | +136K shares |
| 3 years | -0.7% | -248K shares |
| 5 years | -2.9% | -1.1M shares |
| Available history | -4.1% | -1.5M shares |
FN has the edge over MU on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $29.1M |
| Q2 2026 | — |
| Q1 2026 | $151,000 |
| Q4 2025 | $4.8M |
| Q3 2025 | $268,000 |
| Q2 2025 | $22.3M |
| Q1 2025 | $34.8M |
| Q2 2024 | $3.5M |
FN spent $34M buying back its own shares over the past year.
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.
FN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.5x | Net Cash |
| Q2 2026 | -0.7x | Net Cash |
| Q1 2026 | -0.7x | Net Cash |
| Q4 2025 | -0.7x | Net Cash |
| Q3 2025 | -0.8x | Net Cash |
| Q2 2025 | -0.8x | Net Cash |
| Q1 2025 | -0.9x | Net Cash |
| Q4 2024 | -1.2x | Net Cash |
FN 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.
FN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.3 | Neutral |
| Stochastic | 13.9 | Oversold |
FN's weekly RSI is 40 (neutral) and its Stochastic is 14 (oversold).
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).
FN PE vs Technology Sector
| Metric | FN | Sector median | Relative |
|---|---|---|---|
| PE | 27x | 28x | 4.2% below |
| PE % | 60 | 35 | 25 pts above |
FN is trading at 27x earnings, in line with 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 FN on valuation relative to its sector.
FN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $381.8 | 7.3% below |
| 20 week MA | $430.4 | 18% below |
| 50 week MA | $508.0 | 30% below |
| 100 week MA | $396.1 | 11% below |
| 200 week MA | $287.6 | 23% above |
FN has fallen below most of its moving averages, though it's still 23% above its 200-week average.
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 the edge over FN on trend strength, trading above more of its moving averages.
FN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $64.6 | $76.1 | +18% |
| 2021 | $76.1 | $118.0 | +55% |
| 2022 | $118.0 | $128.7 | +9% |
| 2023 | $128.7 | $190.3 | +48% |
| 2024 | $190.3 | $219.5 | +15% |
| 2025 | $219.5 | $478.3 | +118% |
| 2026 YTD | $478.3 | $353.8 | -26% |
FN has finished every year since 2020 higher, and it's down 26% 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 FN on returns for 2026, with the stronger performance.