MU
Micron Technology, Inc.
MU has the edge over NVMI overall, supported by stronger valuation and stronger fundamentals.
NVMI
Nova Ltd.
NVMI's outlook is improving, though it still trails on the overall score.
MU Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
MU's revenue, profitability, cash flow and balance sheet are all currently strong.
NVMI Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Healthy | |
| Stable |
NVMI's revenue, profitability and cash flow are currently healthy, and its balance sheet is stable.
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 NVMI in the historical PE scenario, which offers more potential upside but is not a forecast.
NVMI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 25x | $328 | — |
| Cheap | 26x | $211 | -36% |
| Fair | 39x | $313 | -4.5% |
| Current | 41x | $328 | — |
| Expensive | 54x | $433 | +32% |
Historical ranges are pointers, not guarantees.
NVMI's PE is in its fair range at 41x. If earnings grow as analysts expect, today's price would be 25x next year's earnings, in its cheap range.
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.
NVMI Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Improving | |
| Limited | |
| High |
Analysts expect strong earnings and revenue growth for NVMI, with profitability improving.
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.
NVMI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $13.34 | +66% |
| Q2 2026 | $8.05 | +9.5% |
| Q1 2026 | $7.99 | +21% |
| Q4 2025 | $8.01 | +40% |
| Q3 2025 | $7.65 | +43% |
| Q2 2025 | $7.35 | +53% |
| Q1 2025 | $6.61 | +53% |
| Q4 2024 | $5.73 | +34% |
| Q3 2024 | $5.34 | +27% |
NVMI's earnings per share have climbed steadily: $8.05 over the past year, up 9.5% from the year before, and higher year over year for nine quarters in a row.
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 NVMI 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 NVMI on profitability, with a higher operating margin.
NVMI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $255M | +16% |
| Q1 2026 | $235.3M | +10% |
| Q4 2025 | $222.6M | +14% |
| Q3 2025 | $224.6M | +25% |
| Q2 2025 | $220M | +40% |
| Q1 2025 | $213.4M | +50% |
| Q4 2024 | $194.8M | +45% |
| Q3 2024 | $179M | +39% |
NVMI's revenue has grown year over year for 10 quarters in a row: $255M last quarter, up 16% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 30% | 0 points |
| Q1 2026 | 30% | +0.5 points |
| Q4 2025 | 27% | -1.2 points |
| Q3 2025 | 28% | +0.9 points |
| Q2 2025 | 30% | +0.8 points |
| Q1 2025 | 30% | +3.4 points |
| Q4 2024 | 28% | +3.4 points |
| Q3 2024 | 28% | +1 points |
NVMI's operating margin was 30% last quarter, about level with the same quarter a year ago.
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 NVMI on cash flow, with more consistent year-over-year improvement.
NVMI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $38.4M | -10% |
| Q1 2026 | $36M | -40% |
| Q4 2025 | $48.4M | -21% |
| Q3 2025 | $66.9M | +55% |
| Q2 2025 | $42.9M | -26% |
| Q1 2025 | $59.7M | +5.3% |
| Q4 2024 | $61M | +191% |
| Q3 2024 | $43.1M | -0.2% |
NVMI's free cash flow has been positive every quarter for seven years: $190M over the past year, down 8.2% 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 the edge over NVMI on shareholder dilution, with a more favorable share count trend.
| 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.
NVMI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +11K shares |
| 1 year | +7.5% | +2.4M shares |
| 3 years | +7.9% | +2.5M shares |
| 5 years | +16% | +4.6M shares |
| Available history | +21% | +6M shares |
NVMI has 34M diluted shares, up 7.5% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | $15M |
| Q3 2025 | $55M |
| Q2 2025 | $96,440 |
| Q1 2025 | $20M |
| Q4 2024 | $30M |
| Q3 2024 | — |
NVMI spent $70M buying back its own shares over the past year, up 40% from the year before.
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 NVMI on leverage, with a lower net debt burden relative to earnings.
NVMI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 2.1x | Moderate |
| Q1 2026 | 1.1x | Healthy |
| Q4 2025 | 2.0x | Healthy |
| Q3 2025 | 1.2x | Healthy |
| Q2 2025 | 0.2x | Very low |
| Q1 2025 | 0.4x | Very low |
| Q4 2024 | 0.3x | Very low |
| Q3 2024 | 0.4x | Very low |
NVMI's net debt is about 2.1 years of its operating earnings (EBITDA), up from less than a year a year ago.
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).
NVMI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 39.5 | Neutral |
| Stochastic | 21.0 | Neutral |
NVMI's weekly RSI is 39 (neutral) and its Stochastic is 21 (neutral).
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 NVMI on valuation relative to its sector.
NVMI PE vs Technology Sector
| Metric | NVMI | Sector median | Relative |
|---|---|---|---|
| PE | 41x | 28x | 46% above |
| PE % | 56 | 35 | 21 pts above |
NVMI is trading at 41x earnings, a 46% premium to the Technology sector's median of 28x.
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 NVMI on trend strength, trading above more of its moving averages.
NVMI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $337.9 | 3% below |
| 20 week MA | $377.6 | 13% below |
| 50 week MA | $422.9 | 23% below |
| 100 week MA | $336.0 | 2.5% below |
| 200 week MA | $242.9 | 35% above |
NVMI has fallen below most of its moving averages, though it's still 35% above its 200-week average.
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 NVMI on returns for 2026, with the stronger performance.
NVMI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $38.1 | $70.3 | +85% |
| 2021 | $70.3 | $137.0 | +95% |
| 2022 | $137.0 | $81.7 | -40% |
| 2023 | $81.7 | $137.4 | +68% |
| 2024 | $137.4 | $200.1 | +46% |
| 2025 | $200.1 | $330.9 | +65% |
| 2026 YTD | $330.9 | $327.6 | -1% |
NVMI has finished higher in five of the last six years, four of them by more than 50%. It's down 1% so far in 2026.