MU
Micron Technology, Inc.
MU has the edge over PRGS overall, supported by stronger modeled upside and stronger valuation.
PRGS
Progress Software Corporation
PRGS 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.
PRGS Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Strong | |
| Under pressure |
PRGS's profitability and cash flow are currently strong, 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.
PRGS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 6.7x | $43.44 | — |
| Current | 20x | $43.44 | — |
| Cheap | 25x | $53.38 | +23% |
| Fair | 31x | $66.66 | +53% |
| Expensive | 38x | $81.69 | +88% |
Historical ranges are pointers, not guarantees.
PRGS 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 PRGS on the outlook, with more favorable profitability expectations.
PRGS Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Strong growth | |
| Strongly weakening | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for PRGS, but weaker profitability.
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 PRGS on earnings, with more consistent year-over-year improvement.
PRGS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.46 | +198% |
| Q3 2026 | $2.17 | +101% |
| Q2 2026 | $2.06 | +60% |
| Q1 2026 | $1.95 | +54% |
| Q4 2025 | $1.66 | +7.8% |
| Q3 2025 | $1.08 | -43% |
| Q2 2025 | $1.29 | -22% |
| Q1 2025 | $1.27 | -18% |
| Q4 2024 | $1.54 | -1.9% |
PRGS earned $2.17 per share over the past year, up 101% 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 PRGS 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 PRGS on profitability, with a higher operating margin.
PRGS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $246M | -1.5% |
| Q2 2026 | $253.5M | +6.8% |
| Q1 2026 | $247.8M | +4.1% |
| Q4 2025 | $252.7M | +18% |
| Q3 2025 | $249.8M | +40% |
| Q2 2025 | $237.4M | +36% |
| Q1 2025 | $238M | +29% |
| Q4 2024 | $215M | +21% |
PRGS's revenue is growing: $246M last quarter, down 1.5% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 19% | +1.4 points |
| Q2 2026 | 18% | +1.6 points |
| Q1 2026 | 19% | +5.1 points |
| Q4 2025 | 15% | +5.2 points |
| Q3 2025 | 18% | -5 points |
| Q2 2025 | 16% | +0.8 points |
| Q1 2025 | 14% | -5.3 points |
| Q4 2024 | 10% | -2.7 points |
PRGS's operating margin was 19% last quarter, up 1.4 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 PRGS on cash flow, with more consistent year-over-year improvement.
PRGS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $86.3M | +19% |
| Q2 2026 | $77M | +161% |
| Q1 2026 | $95.9M | +42% |
| Q4 2025 | $59.9M | +257% |
| Q3 2025 | $72.4M | +28% |
| Q2 2025 | $29.5M | -53% |
| Q1 2025 | $67.7M | -3.6% |
| Q4 2024 | $16.8M | -45% |
PRGS's free cash flow has been positive every quarter for seven years: $319M over the past year, up 71% 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.
PRGS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -2% | -832K shares |
| 1 year | -5.1% | -2.2M shares |
| 3 years | -7.8% | -3.5M shares |
| 5 years | -6.8% | -3M shares |
| Available history | -8.5% | -3.9M shares |
PRGS has the edge over MU on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $16.9M |
| Q2 2026 | $34.7M |
| Q1 2026 | $20.4M |
| Q4 2025 | $40M |
| Q3 2025 | $15M |
| Q2 2025 | $20M |
| Q1 2025 | $30.1M |
| Q4 2024 | — |
PRGS spent $112M buying back its own shares over the past year, up 72% 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 PRGS on leverage, with a lower net debt burden relative to earnings.
PRGS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.5x | Elevated |
| Q2 2026 | 3.7x | Elevated |
| Q1 2026 | 3.9x | Elevated |
| Q4 2025 | 4.3x | High |
| Q3 2025 | 3.5x | Elevated |
| Q2 2025 | 3.9x | Elevated |
| Q1 2025 | 5.9x | High |
| Q4 2024 | -0.5x | Net Cash |
PRGS's net debt is about 3.5 years of its operating earnings (EBITDA), about the same as 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).
PRGS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 56.4 | Neutral |
| Stochastic | 73.9 | Neutral |
PRGS's weekly RSI is 56 (neutral) and its Stochastic is 74 (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 PRGS on valuation relative to its sector.
PRGS PE vs Technology Sector
| Metric | PRGS | Sector median | Relative |
|---|---|---|---|
| PE | 20x | 28x | 28% below |
| PE % | 8 | 35 | 27 pts below |
PRGS is trading at 20x earnings, a 28% 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.
PRGS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $41.9 | 3.7% above |
| 20 week MA | $41.5 | 4.7% above |
| 50 week MA | $37.8 | 15% above |
| 100 week MA | $45.5 | 4.5% below |
| 200 week MA | $51.1 | 15% below |
PRGS has bounced recently, but its long-term trend is still down: it's above its 8-, 20- and 50-week averages, but 15% 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 PRGS on returns for 2026, with the stronger performance.
PRGS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $41.7 | $44.2 | +6% |
| 2021 | $44.2 | $48.3 | +9.3% |
| 2022 | $48.3 | $50.5 | +4.4% |
| 2023 | $50.5 | $54.3 | +7.6% |
| 2024 | $54.3 | $65.5 | +21% |
| 2025 | $65.5 | $43.5 | -34% |
| 2026 YTD | $43.5 | $43.4 | -0.2% |
PRGS has finished higher in five of the last six years. It's roughly flat so far in 2026.