MU
Micron Technology, Inc.
MU has the edge over Q overall, supported by stronger valuation and stronger fundamentals.
Q
Qnity Electronics, Inc.
Q'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.
Q Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Healthy | |
| Healthy | |
| Stable |
Q's profitability and cash flow are currently healthy, and its balance sheet is stable. There isn't enough data to rate its revenue.
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.
Q PE Valuation
Q has no meaningful PE right now: it lost money over the past year.
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.
Q Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for Q, 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.
Q Earnings Per Share
Q and MU do not have enough comparable growth data to identify a winner.
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 Q in the latest year-over-year revenue comparison.
| 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 Q on profitability, with a higher operating margin.
Q Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.6B | +22% |
| Q2 2026 | $1.4B | +22% |
| Q1 2026 | $1.3B | +18% |
| Q2 2025 | $1.2B | +6.1% |
| Q1 2025 | $1.1B | +14% |
Q's revenue has grown year over year every quarter since late 2025: $1.6B last quarter, up 22% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 16% | -5.5 points |
| Q2 2026 | 14% | -7.3 points |
| Q1 2026 | 17% | -6 points |
| Q4 2025 | 16% | -2.2 points |
| Q3 2025 | 21% | +4.2 points |
| Q2 2025 | 21% | N/A |
| Q1 2025 | 23% | N/A |
| Q2 2024 | 18% | N/A |
Q's operating margin was 16% last quarter, down 5.5 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 generated $59B in free cash flow over the past year, more than ten times what it generated the year before.
Q Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $151M | -33% |
| Q1 2026 | $13M | -87% |
| Q2 2025 | $224M | +20% |
| Q1 2025 | $103M | -28% |
Q's free cash flow has been positive every quarter since early 2024: $777M over the past year, up 18% 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.
Q Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -200K shares |
| 1 year | +0.5% | +1M shares |
Q has the edge over MU on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $25M |
| Q2 2026 | $25M |
| Q1 2026 | $25M |
| Q2 2025 | — |
| Q1 2025 | — |
| Q2 2024 | — |
| Q1 2024 | — |
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 Q on leverage, with a lower net debt burden relative to earnings.
Q Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.3x | Moderate |
| Q2 2026 | 2.4x | Moderate |
| Q1 2026 | 2.4x | Moderate |
| Q4 2025 | 2.3x | Moderate |
Q's net debt is about 2.3 years of its operating earnings (EBITDA).
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).
Q Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 47.7 | Neutral |
| Stochastic | 33.1 | Neutral |
Q's weekly RSI is 48 (neutral) and its Stochastic is 33 (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.
Q PE vs Technology Sector
Q 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 stronger trend alignment. MU is above 3 of 5 weekly averages versus Q above 1 of 3.
Q Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $120.5 | 1.8% above |
| 20 week MA | $127.4 | 3.7% below |
| 50 week MA | $122.7 | 0% below |
Q has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 0% below its 50-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 Q on returns for 2026, with the stronger performance.
Q Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2025 | $95.0 | $84.2 | -11% |
| 2026 YTD | $84.2 | $122.7 | +46% |
Q has finished every year since 2025 lower, and it's up 46% so far in 2026.