MU
Micron Technology, Inc.
MU has the edge over PTC overall, supported by stronger modeled upside and stronger valuation.
PTC
PTC Inc.
PTC'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.
PTC Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Strong | |
| Strong | |
| Healthy |
PTC's profitability, cash flow and balance sheet are currently healthy, but its revenue 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.
PTC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 19x | $196 | — |
| Forward | 22x | $196 | — |
| Cheap | 26x | $269 | +37% |
| Fair | 52x | $532 | +171% |
| Expensive | 91x | $941 | +379% |
Historical ranges are pointers, not guarantees.
PTC 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 PTC on the outlook, with more favorable valuation expectations.
PTC Forward outlook
| Metric | Outlook |
|---|---|
| Deteriorating | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for PTC, 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 has the edge over PTC in the latest year-over-year earnings comparison.
PTC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $8.98 | -13% |
| Q2 2026 | $10.28 | +142% |
| Q1 2026 | $10.42 | +185% |
| Q4 2025 | $6.79 | +109% |
PTC's earnings per share have climbed steadily: $10.28 over the past year, up 142% from the year before, and higher year over year every quarter since late 2025. Its recent earnings include one-off gains.
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 PTC 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 PTC on profitability, with a higher operating margin.
PTC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $673.3M | -25% |
| Q2 2026 | $600M | -6.8% |
| Q1 2026 | $774.3M | +22% |
| Q4 2025 | $685.8M | +21% |
PTC's revenue fell from its 2025 peak and has held roughly level since: $673M last quarter, down 25% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 28% | -4.8 points |
| Q1 2026 | 38% | +3.1 points |
| Q4 2025 | 32% | +12 points |
| Q3 2025 | 49% | N/A |
| Q2 2025 | 33% | N/A |
| Q1 2025 | 35% | N/A |
| Q4 2024 | 20% | N/A |
PTC's operating margin was 28% last quarter, down 4.8 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 PTC in the latest year-over-year cash flow comparison.
PTC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $249.3M | +3% |
| Q1 2026 | $318.2M | +14% |
| Q4 2025 | $267.4M | +13% |
MU has the edge over PTC in the latest year-over-year cash flow comparison.
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.
PTC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -3% | -3.6M shares |
| 1 year | -4.6% | -5.5M shares |
PTC has the edge over MU on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | $500M |
| Q1 2026 | $626.1M |
| Q4 2025 | $200M |
| Q3 2025 | $75M |
| Q2 2025 | $75M |
| Q1 2025 | $75M |
| Q4 2024 | $75M |
PTC spent $1.4B 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 the edge over PTC on leverage, with a lower net debt burden relative to earnings.
PTC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 0.9x | Very low |
| Q1 2026 | 0.6x | Very low |
| Q4 2025 | 0.8x | Very low |
| Q3 2025 | 0.9x | Very low |
| Q2 2025 | 1.2x | Healthy |
| Q1 2025 | 1.5x | Healthy |
| Q4 2024 | 1.2x | Healthy |
PTC's net debt is less than a year of its operating earnings (EBITDA), down from 1.2 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).
PTC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 69.8 | Neutral |
| Stochastic | 99.0 | Overbought |
PTC's weekly RSI is 70 (neutral) and its Stochastic is 99 (overbought).
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 PTC on valuation relative to its sector.
PTC PE vs Technology Sector
| Metric | PTC | Sector median | Relative |
|---|---|---|---|
| PE | 19x | 28x | 31% below |
| PE % | 8 | 35 | 27 pts below |
PTC is trading at 19x earnings, a 31% discount to the Technology sector's median of 28x, though its recent earnings include one-off gains.
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.
PTC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $181.3 | 8.3% above |
| 20 week MA | $154.8 | 27% above |
| 50 week MA | $152.1 | 29% above |
| 100 week MA | $166.7 | 18% above |
| 200 week MA | $163.6 | 20% above |
PTC 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 PTC on returns for 2026, with the stronger performance.
PTC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $75.8 | $119.9 | +58% |
| 2021 | $119.9 | $120.5 | +0.6% |
| 2022 | $120.5 | $121.3 | +0.6% |
| 2023 | $121.3 | $175.0 | +44% |
| 2024 | $175.0 | $184.5 | +5.5% |
| 2025 | $184.5 | $176.6 | -4.3% |
| 2026 YTD | $176.6 | $196.3 | +11% |
PTC has finished higher in five of the last six years. It's up 11% so far in 2026.