MU
Micron Technology, Inc.
MU has the edge over PUBM overall, supported by stronger valuation and stronger modeled upside.
PUBM
PubMatic, Inc.
PUBM'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.
PUBM Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Healthy | |
| Strong |
PUBM's revenue, cash flow and balance sheet are currently healthy, and its profitability 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'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.
PUBM PE Valuation
PUBM has no meaningful PE right now: it lost money over the past year. If it returns to profit as analysts expect, today's price would be 99x next year's earnings.
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.
PUBM Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect PUBM to return to profit, with revenue growing.
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 PUBM on earnings quality, reporting a profit while its opponent remains loss making.
PUBM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.19 | — |
| Q3 2026 | -$0.05 | +$0.14 |
| Q2 2026 | -$0.30 | -$0.23 |
| Q1 2026 | -$0.38 | -575% |
| Q4 2025 | -$0.31 | -235% |
| Q3 2025 | -$0.19 | -246% |
| Q2 2025 | -$0.07 | -139% |
| Q1 2025 | $0.08 | +167% |
| Q4 2024 | $0.23 | +$0.26 |
PUBM lost $0.05 per share over the past year, a smaller loss than 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 PUBM 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 PUBM on profitability, with a higher operating margin.
PUBM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $79.6M | +17% |
| Q2 2026 | $78.6M | +11% |
| Q1 2026 | $62.6M | -2% |
| Q4 2025 | $80M | -6.4% |
| Q3 2025 | $68M | -5.3% |
| Q2 2025 | $71.1M | +5.7% |
| Q1 2025 | $63.8M | -4.3% |
| Q4 2024 | $85.5M | +1.1% |
PUBM's revenue is growing: $80M last quarter, up 17% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 11% | +23 points |
| Q2 2026 | 0.7% | +8.4 points |
| Q1 2026 | -24% | -5.8 points |
| Q4 2025 | 11% | -6.7 points |
| Q3 2025 | -12% | -11 points |
| Q2 2025 | -7.7% | -1.8 points |
| Q1 2025 | -19% | -10 points |
| Q4 2024 | 17% | -6.8 points |
PUBM's operating margin was 11% last quarter, up 23 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 PUBM on cash flow, with more consistent year-over-year improvement.
PUBM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $20.9M | -25% |
| Q2 2026 | $17.3M | +27% |
| Q1 2026 | $17.3M | +22% |
| Q4 2025 | $11.3M | -18% |
| Q3 2025 | $27.7M | +274% |
| Q2 2025 | $13.6M | +21% |
| Q1 2025 | $14.2M | -40% |
| Q4 2024 | $13.7M | -42% |
PUBM generated $67M in free cash flow over the past year, down 3.6% 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 PUBM 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.
PUBM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +9.3% | +4.3M shares |
| 1 year | +9.8% | +4.5M shares |
| 3 years | -9.9% | -5.6M shares |
| 5 years | -11% | -6.1M shares |
| Available history | +16% | +6.8M shares |
PUBM has 50M diluted shares, up 9.8% from a year ago, despite $47M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $15M |
| Q2 2026 | $22M |
| Q1 2026 | $8.5M |
| Q4 2025 | $1.2M |
| Q3 2025 | $4M |
| Q2 2025 | $38.6M |
| Q1 2025 | $5M |
| Q4 2024 | $9.9M |
PUBM spent $47M buying back its own shares over the past year, down 19% 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 more cash than debt.
PUBM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2025 | -83.6x | Net Cash |
| Q3 2025 | -13.1x | Net Cash |
| Q2 2025 | -4.7x | Net Cash |
| Q1 2025 | -4.7x | Net Cash |
| Q4 2024 | -3.5x | Net Cash |
| Q3 2024 | -2.2x | Net Cash |
| Q2 2024 | -2.0x | Net Cash |
| Q1 2024 | -2.3x | Net Cash |
PUBM has more cash than debt.
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).
PUBM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 65.8 | Neutral |
| Stochastic | 71.0 | Neutral |
PUBM's weekly RSI is 66 (neutral) and its Stochastic is 71 (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.
PUBM PE vs Technology Sector
| Metric | PUBM | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 28x | — |
PUBM has no meaningful PE right now: it lost money over the past year.
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.
PUBM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $17.8 | 7% above |
| 20 week MA | $16.3 | 17% above |
| 50 week MA | $12.0 | 59% above |
| 100 week MA | $11.4 | 66% above |
| 200 week MA | $14.1 | 35% above |
PUBM 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 PUBM on returns for 2026, with the stronger performance.
PUBM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $25.1 | $30.4 | +22% |
| 2021 | $30.4 | $34.8 | +14% |
| 2022 | $34.8 | $12.6 | -64% |
| 2023 | $12.6 | $16.3 | +29% |
| 2024 | $16.3 | $15.1 | -7.4% |
| 2025 | $15.1 | $8.98 | -41% |
| 2026 YTD | $8.98 | $19.0 | +112% |
PUBM is up 112% so far in 2026, after finishing lower in three of the previous six years.