MU
Micron Technology, Inc.
MU has the edge over OTEX overall, supported by stronger modeled upside and stronger fundamentals.
OTEX
Open Text Corporation
OTEX trails on the overall score without a compensating advantage in the available component scores.
MU Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
MU's revenue, profitability, cash flow and balance sheet are all currently strong.
OTEX Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Healthy | |
| Under pressure |
OTEX's profitability and cash flow are currently healthy, and its revenue is stable, but its balance sheet is under pressure.
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.
OTEX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 6.4x | $24.81 | — |
| Current | 9.4x | $24.81 | — |
| Cheap | 14x | $35.71 | +44% |
| Fair | 31x | $83.11 | +235% |
| Expensive | 53x | $139 | +462% |
Historical ranges are pointers, not guarantees.
OTEX has the edge over MU in the historical PE scenario, which offers more potential upside but is not a forecast.
MU Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Broad | |
| Moderate |
MU has the edge over OTEX on the outlook, with more favorable earnings and revenue expectations.
OTEX Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Stable | |
| Stable | |
| Weakening | |
| Limited | |
| High |
Analysts expect OTEX's profitability to weaken, with its earnings and revenue holding steady.
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 OTEX on earnings, with more consistent year-over-year improvement.
OTEX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.86 | +46% |
| Q3 2026 | $2.64 | +38% |
| Q2 2026 | $2.58 | +56% |
| Q1 2026 | $2.05 | -16% |
| Q4 2025 | $1.70 | -31% |
| Q3 2025 | $1.91 | +10% |
| Q2 2025 | $1.65 | -3.5% |
| Q1 2025 | $2.45 | +295% |
| Q4 2024 | $2.46 | +423% |
OTEX earned $2.64 per share over the past year, up 38% from the year before.
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 OTEX 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 OTEX on profitability, with a higher operating margin.
OTEX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.2B | -4% |
| Q2 2026 | $1.3B | +2.9% |
| Q1 2026 | $1.3B | +2.2% |
| Q4 2025 | $1.3B | -0.6% |
| Q3 2025 | $1.3B | +1.5% |
| Q2 2025 | $1.3B | -3.8% |
| Q1 2025 | $1.3B | -13% |
| Q4 2024 | $1.3B | -13% |
OTEX's revenue fell from its 2023 peak and has held roughly level since: $1.2B last quarter, down 4% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 20% | -0.7 points |
| Q2 2026 | 24% | +9.8 points |
| Q1 2026 | 16% | -1 points |
| Q4 2025 | 22% | -0.2 points |
| Q3 2025 | 21% | +4.7 points |
| Q2 2025 | 14% | -0.3 points |
| Q1 2025 | 17% | +1 points |
| Q4 2024 | 22% | +5.6 points |
OTEX's operating margin was 20% last quarter, down 0.7 points from 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 OTEX on cash flow, with more consistent year-over-year improvement.
OTEX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $138.5M | +37% |
| Q2 2026 | $122M | -1.6% |
| Q1 2026 | $304.9M | -18% |
| Q4 2025 | $279.4M | -8.9% |
| Q3 2025 | $101.2M | +$218.4M |
| Q2 2025 | $124M | -15% |
| Q1 2025 | $373.8M | +7.4% |
| Q4 2024 | $306.7M | +0.4% |
OTEX generated $845M in free cash flow over the past year, down 6.7% 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.
OTEX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -2.9% | -7.3M shares |
| 1 year | -4.6% | -11.7M shares |
| 3 years | -11% | -29.8M shares |
| 5 years | -11% | -31.1M shares |
| Available history | -11% | -29.5M shares |
OTEX has the edge over MU on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $30M |
| Q2 2026 | $11.8M |
| Q1 2026 | $247M |
| Q4 2025 | $50M |
| Q3 2025 | $107.6M |
| Q2 2025 | $145.3M |
| Q1 2025 | $114.6M |
| Q4 2024 | $66M |
OTEX spent $339M buying back its own shares over the past year, down 22% 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 OTEX on leverage, with a lower net debt burden relative to earnings.
OTEX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.2x | Elevated |
| Q2 2026 | 3.2x | Elevated |
| Q1 2026 | 3.6x | Elevated |
| Q4 2025 | 3.6x | Elevated |
| Q3 2025 | 3.8x | Elevated |
| Q2 2025 | 3.9x | Elevated |
| Q1 2025 | 3.7x | Elevated |
| Q4 2024 | 3.7x | Elevated |
OTEX's net debt is about 3.2 years of its operating earnings (EBITDA), down from 3.8 years 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).
OTEX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.9 | Neutral |
| Stochastic | 57.4 | Neutral |
OTEX's weekly RSI is 51 (neutral) and its Stochastic is 57 (neutral).
MU PE vs Technology Sector
| Metric | MU | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 28x | 61% below |
| PE % | 18 | 35 | 17 pts below |
MU is trading at 11x earnings, a 61% discount to the Technology sector's median of 28x.
OTEX PE vs Technology Sector
| Metric | OTEX | Sector median | Relative |
|---|---|---|---|
| PE | 9.4x | 28x | 66% below |
| PE % | 2 | 35 | 33 pts below |
OTEX has the edge over MU on valuation relative to its sector.
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 OTEX on trend strength, trading above more of its moving averages.
OTEX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $24.8 | 0.2% above |
| 20 week MA | $24.2 | 2.5% above |
| 50 week MA | $25.1 | 1.1% below |
| 100 week MA | $27.6 | 10% below |
| 200 week MA | $31.8 | 22% below |
OTEX has bounced recently, but its long-term trend is still down: it's above its 8- and 20-week averages, but 22% below 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 OTEX on returns for 2026, with the stronger performance.
OTEX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $44.1 | $45.7 | +3.8% |
| 2021 | $45.7 | $47.4 | +3.6% |
| 2022 | $47.4 | $29.0 | -39% |
| 2023 | $29.0 | $42.0 | +45% |
| 2024 | $42.0 | $28.3 | -33% |
| 2025 | $28.3 | $33.5 | +18% |
| 2026 YTD | $33.5 | $24.8 | -26% |
OTEX has finished higher in four of the last six years. It's down 26% so far in 2026.