KD
Kyndryl Holdings, Inc.
KD's outlook is improving, though it still trails on the overall score.
MU
Micron Technology, Inc.
MU has the edge over KD overall, supported by stronger modeled upside and stronger valuation.
KD Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Under pressure | |
| Under pressure |
KD's revenue and profitability are currently stable, but its cash flow and balance sheet are under pressure.
MU Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
MU's revenue, profitability, cash flow and balance sheet are all currently strong.
KD PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 6.1x | $17.06 | — |
| Cheap | 14x | $4.73 | -72% |
| Fair | 25x | $8.67 | -49% |
| Expensive | 40x | $14.14 | -17% |
| Current | 49x | $17.06 | — |
Historical ranges are pointers, not guarantees.
KD's PE is in its expensive range at 49x. If earnings grow as analysts expect, today's price would be 6.1x 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 KD in the historical PE scenario, which offers more potential upside but is not a forecast.
KD Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect KD's earnings to grow and its profitability to improve, with its revenue holding steady.
MU Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Broad | |
| Moderate |
MU has the edge over KD on the outlook, with more favorable revenue expectations.
KD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.78 | +693% |
| Q3 2026 | $0.35 | -80% |
| Q2 2026 | $0.37 | -70% |
| Q1 2026 | $0.85 | -19% |
| Q4 2025 | $1.07 | +91% |
| Q3 2025 | $1.71 | +$2.09 |
| Q2 2025 | $1.23 | +$2.04 |
| Q1 2025 | $1.05 | +$2.53 |
| Q4 2024 | $0.56 | +$5.09 |
KD's earnings per share have fallen from their peak: $0.35 over the past year, against $1.71 in late 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 KD on earnings, with more consistent year-over-year improvement.
KD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $3.7B | -1.9% |
| Q2 2026 | $3.6B | -3.3% |
| Q1 2026 | $3.8B | -0.8% |
| Q4 2025 | $3.9B | +3.1% |
| Q3 2025 | $3.7B | -1.4% |
| Q2 2025 | $3.7B | +0.1% |
| Q1 2025 | $3.8B | -1.3% |
| Q4 2024 | $3.7B | -4.9% |
KD's revenue fell from its 2020 peak and has held roughly level since: $3.7B last quarter, down 1.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 3.1% | +0.4 points |
| Q2 2026 | -1.9% | -4.4 points |
| Q1 2026 | 3.5% | +0.4 points |
| Q4 2025 | 2.4% | -4.5 points |
| Q3 2025 | 2.6% | +2.8 points |
| Q2 2025 | 2.5% | +0.8 points |
| Q1 2025 | 3.1% | +3.2 points |
| Q4 2024 | 6.9% | +5.5 points |
KD's operating margin was 3.1% 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 KD 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 KD on profitability, with a higher operating margin.
KD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$41M | -341% |
| Q2 2026 | -$459M | -$192M |
| Q1 2026 | $382M | +12% |
| Q4 2025 | $208M | +38% |
| Q3 2025 | $17M | +13% |
| Q2 2025 | -$267M | -$97M |
| Q1 2025 | $341M | +$398M |
| Q4 2024 | $151M | -42% |
KD usually generates cash, though not every quarter: the latest was −$41M, but it generated $90M 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 KD on cash flow, with more consistent year-over-year improvement.
KD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.7% | -1.5M shares |
| 1 year | -7.1% | -16.8M shares |
| 3 years | -4.4% | -10M shares |
| 5 years | -2.2% | -5M shares |
| Available history | -2.2% | -4.8M shares |
KD has the edge over MU on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $33M |
| Q2 2026 | $64M |
| Q1 2026 | $54M |
| Q4 2025 | $99M |
| Q3 2025 | $89M |
| Q2 2025 | $62M |
| Q1 2025 | $63M |
| Q2 2021 | — |
KD spent $250M 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.
KD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.9x | Moderate |
| Q2 2026 | 3.5x | Elevated |
| Q1 2026 | 2.6x | Moderate |
| Q4 2025 | 2.7x | Moderate |
| Q3 2025 | 1.3x | Healthy |
| Q2 2025 | 1.4x | Healthy |
| Q1 2025 | 1.2x | Healthy |
| Q4 2024 | 1.6x | Healthy |
KD's net debt is about 2.9 years of its operating earnings (EBITDA), up from 1.3 years 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 KD on leverage, with a lower net debt burden relative to earnings.
KD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 63.0 | Neutral |
| Stochastic | 76.4 | Neutral |
KD's weekly RSI is 63 (neutral) and its Stochastic is 76 (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).
KD PE vs Technology Sector
| Metric | KD | Sector median | Relative |
|---|---|---|---|
| PE | 49x | 28x | 75% above |
| PE % | 86 | 46 | 40 pts above |
KD 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 KD on valuation relative to its sector.
KD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $13.8 | 24% above |
| 20 week MA | $13.2 | 30% above |
| 50 week MA | $15.4 | 11% above |
| 100 week MA | $24.8 | 31% below |
| 200 week MA | $22.3 | 23% below |
KD has bounced recently, but its long-term trend is still down: it's above its 8-, 20- and 50-week averages, but 23% below 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 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.
KD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $40.8 | $19.1 | -53% |
| 2022 | $19.1 | $11.0 | -42% |
| 2023 | $11.0 | $20.8 | +88% |
| 2024 | $20.8 | $34.8 | +68% |
| 2025 | $34.8 | $27.2 | -22% |
| 2026 YTD | $27.2 | $17.1 | -37% |
KD has finished lower in three of the last five years. It's down 37% 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 KD on returns for 2026, with the stronger performance.