MU
Micron Technology, Inc.
MU has the edge over OSPN overall, supported by stronger modeled upside and stronger fundamentals.
OSPN
OneSpan Inc.
OSPN'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.
OSPN Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Strong |
OSPN's profitability, cash flow and balance sheet are currently healthy, and its revenue 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 OSPN in the historical PE scenario, which offers more potential upside but is not a forecast.
OSPN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 8.3x | $15.07 | -33% |
| Current | 12x | $22.43 | — |
| Forward | 17x | $22.43 | — |
| Fair | 23x | $40.90 | +82% |
| Expensive | 80x | $146 | +549% |
Historical ranges are pointers, not guarantees.
OSPN's PE is in its fair range at 12x. On analysts' estimates for next year's earnings, today's price would be 17x.
MU Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Broad | |
| Moderate |
MU has the edge over OSPN on the outlook, with more favorable valuation expectations.
OSPN Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for OSPN, 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.
OSPN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.34 | -26% |
| Q3 2026 | $1.81 | +22% |
| Q2 2026 | $1.78 | +17% |
| Q1 2026 | $1.81 | +22% |
| Q4 2025 | $1.88 | +29% |
| Q3 2025 | $1.48 | +100% |
| Q2 2025 | $1.52 | +253% |
| Q1 2025 | $1.48 | +$1.66 |
| Q4 2024 | $1.46 | +$2.20 |
OSPN's earnings per share have climbed steadily: $1.81 over the past year, up 22% from the year before, and higher year over year for 11 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 OSPN 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 OSPN on profitability, with a higher operating margin.
OSPN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $63.9M | +12% |
| Q2 2026 | $60.5M | +1% |
| Q1 2026 | $65.9M | +4.1% |
| Q4 2025 | $62.9M | +2.9% |
| Q3 2025 | $57.1M | +1.4% |
| Q2 2025 | $59.8M | -1.8% |
| Q1 2025 | $63.4M | -2.3% |
| Q4 2024 | $61.2M | -2.8% |
OSPN's revenue has grown year over year for five quarters in a row: $64M last quarter, up 12% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 14% | +0.1 points |
| Q2 2026 | 14% | -3.1 points |
| Q1 2026 | 22% | -4.7 points |
| Q4 2025 | 20% | +0.6 points |
| Q3 2025 | 14% | -5.6 points |
| Q2 2025 | 18% | +5 points |
| Q1 2025 | 27% | +5.4 points |
| Q4 2024 | 19% | +16 points |
OSPN's operating margin was 14% 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 OSPN on cash flow, with more consistent year-over-year improvement.
OSPN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $13.3M | +51% |
| Q2 2026 | -$3.3M | -175% |
| Q1 2026 | $25.1M | -9.7% |
| Q4 2025 | $9.6M | -7.9% |
| Q3 2025 | $8.8M | -27% |
| Q2 2025 | $4.4M | +16669% |
| Q1 2025 | $27.7M | +16% |
| Q4 2024 | $10.5M | +$10.8M |
OSPN generated $45M in free cash flow over the past year, down 13% 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.
OSPN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +2.4% | +897K shares |
| 1 year | +0.7% | +271K shares |
| 3 years | -3.5% | -1.4M shares |
| 5 years | -2.5% | -989K shares |
OSPN has the edge over MU on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $2.9M |
| Q1 2026 | $5.4M |
| Q4 2025 | $6.8M |
| Q4 2024 | $3,000 |
| Q4 2023 | $25.6M |
| Q3 2023 | $3.5M |
| Q4 2022 | — |
OSPN spent $15M buying back its own shares over the past year.
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.
OSPN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.8x | Net Cash |
| Q2 2026 | -0.7x | Net Cash |
| Q1 2026 | -0.9x | Net Cash |
| Q4 2025 | -1.2x | Net Cash |
| Q3 2025 | -1.5x | Net Cash |
| Q2 2025 | -1.6x | Net Cash |
| Q1 2025 | -1.9x | Net Cash |
| Q4 2024 | -1.6x | Net Cash |
OSPN has the edge over MU on leverage, with a lower net debt burden relative to earnings.
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).
OSPN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 66.7 | Neutral |
| Stochastic | 65.9 | Neutral |
OSPN's weekly RSI is 67 (neutral) and its Stochastic is 66 (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 OSPN on valuation relative to its sector.
OSPN PE vs Technology Sector
| Metric | OSPN | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 28x | 56% below |
| PE % | 48 | 35 | 13 pts above |
OSPN is trading at 12x earnings, a 56% discount 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 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.
OSPN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $20.2 | 11% above |
| 20 week MA | $17.7 | 27% above |
| 50 week MA | $14.3 | 57% above |
| 100 week MA | $15.1 | 49% above |
| 200 week MA | $14.2 | 58% above |
OSPN has the edge over MU on trend strength, trading above more of its moving averages.
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 OSPN on returns for 2026, with the stronger performance.
OSPN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $17.2 | $21.3 | +24% |
| 2021 | $21.3 | $16.9 | -21% |
| 2022 | $16.9 | $11.5 | -32% |
| 2023 | $11.5 | $10.7 | -7% |
| 2024 | $10.7 | $18.8 | +75% |
| 2025 | $18.8 | $12.9 | -31% |
| 2026 YTD | $12.9 | $22.4 | +74% |
OSPN is up 74% so far in 2026, after finishing lower in four of the previous six years.