ITRI
Itron, Inc.
ITRI's outlook is improving, though it still trails on the overall score.
MU
Micron Technology, Inc.
MU has the edge over ITRI overall, supported by stronger modeled upside and stronger fundamentals.
ITRI Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Stable |
ITRI's profitability and cash flow are currently healthy, and its revenue and balance sheet are stable.
MU Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
MU's revenue, profitability, cash flow and balance sheet are all currently strong.
ITRI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 14x | $96.41 | — |
| Current | 16x | $96.41 | — |
| Cheap | 17x | $104 | +7.7% |
| Fair | 25x | $155 | +61% |
| Expensive | 58x | $357 | +270% |
Historical ranges are pointers, not guarantees.
ITRI has the edge over MU in the historical PE scenario, which offers more potential upside but is not a forecast.
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's PE is in its cheap range at 11x. If earnings grow as analysts expect, today's price would be 4.6x next year's earnings.
ITRI Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for ITRI, with profitability holding steady. However, they disagree widely on these estimates.
MU Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Broad | |
| Moderate |
MU has the edge over ITRI on the outlook, with more favorable profitability expectations.
ITRI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.78 | +9.7% |
| Q3 2026 | $6.18 | +11% |
| Q2 2026 | $5.98 | +2.2% |
| Q1 2026 | $6.26 | +14% |
| Q4 2025 | $6.50 | +25% |
| Q3 2025 | $5.56 | +14% |
| Q2 2025 | $5.85 | +44% |
| Q1 2025 | $5.48 | +57% |
| Q4 2024 | $5.18 | +145% |
ITRI's earnings per share have climbed steadily: $6.18 over the past year, up 11% from the year before, and higher year over year for 16 quarters in a row.
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.
ITRI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $599.3M | +3% |
| Q2 2026 | $562.9M | -7.2% |
| Q1 2026 | $587M | -3.3% |
| Q4 2025 | $571.7M | -6.7% |
| Q3 2025 | $581.6M | -5.5% |
| Q2 2025 | $606.8M | -0.4% |
| Q1 2025 | $607.2M | +0.6% |
| Q4 2024 | $612.9M | +6.2% |
ITRI's revenue has held roughly level: $599M last quarter, up 3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 16% | +1.9 points |
| Q2 2026 | 14% | +0.9 points |
| Q1 2026 | 12% | -1 points |
| Q4 2025 | 14% | +3.5 points |
| Q3 2025 | 14% | +2.1 points |
| Q2 2025 | 13% | +2 points |
| Q1 2025 | 13% | +2.1 points |
| Q4 2024 | 10% | +1.7 points |
ITRI's operating margin was 16% last quarter, up 1.9 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 ITRI on sales, with more consistent year-over-year improvement.
| 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 ITRI on profitability, with a higher operating margin.
ITRI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $95.5M | -16% |
| Q2 2026 | $81.5M | -10% |
| Q1 2026 | $79M | +17% |
| Q4 2025 | $111.5M | +59% |
| Q3 2025 | $113.4M | +93% |
| Q2 2025 | $90.7M | +103% |
| Q1 2025 | $67.5M | +98% |
| Q4 2024 | $70.2M | +78% |
ITRI generated $368M in free cash flow over the past year, up 7.5% 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 ITRI on cash flow, with more consistent year-over-year improvement.
ITRI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -197K shares |
| 1 year | -4.8% | -2.2M shares |
| 3 years | -3.3% | -1.5M shares |
| 5 years | -1.8% | -829K shares |
| Available history | +11% | +4.4M shares |
ITRI has the edge over MU on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $52.2M |
| Q1 2026 | $100M |
| Q4 2025 | $100M |
| Q3 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q4 2023 | — |
ITRI spent $252M 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.
ITRI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.9x | Healthy |
| Q2 2026 | 2.3x | Moderate |
| Q1 2026 | 2.4x | Moderate |
| Q4 2025 | 0.6x | Very low |
| Q3 2025 | -0.2x | Net Cash |
| Q2 2025 | 0.1x | Very low |
| Q1 2025 | 0.4x | Very low |
| Q4 2024 | 0.6x | Very low |
ITRI's net debt is about 1.9 years of its operating earnings (EBITDA), after holding more cash than debt a year ago.
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 the edge over ITRI on leverage, with a lower net debt burden relative to earnings.
ITRI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 55.3 | Neutral |
| Stochastic | 62.0 | Neutral |
ITRI's weekly RSI is 55 (neutral) and its Stochastic is 62 (neutral).
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).
ITRI PE vs Technology Sector
| Metric | ITRI | Sector median | Relative |
|---|---|---|---|
| PE | 16x | 28x | 44% below |
| PE % | 13 | 35 | 22 pts below |
ITRI is trading at 16x earnings, a 44% discount 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 ITRI on valuation relative to its sector.
ITRI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $90.4 | 6.6% above |
| 20 week MA | $92.4 | 4.4% above |
| 50 week MA | $91.5 | 5.3% above |
| 100 week MA | $102.9 | 6.3% below |
| 200 week MA | $92.0 | 4.8% above |
ITRI 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.
ITRI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $83.8 | $93.9 | +12% |
| 2021 | $93.9 | $66.6 | -29% |
| 2022 | $66.6 | $49.6 | -26% |
| 2023 | $49.6 | $75.5 | +52% |
| 2024 | $75.5 | $109.2 | +45% |
| 2025 | $109.2 | $96.5 | -12% |
| 2026 YTD | $96.5 | $96.4 | -0.1% |
ITRI has finished lower in three of the last six years. It's roughly flat 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 ITRI on returns for 2026, with the stronger performance.