MU
Micron Technology, Inc.
MU has the edge over RNG overall, supported by stronger valuation and stronger modeled upside.
RNG
RingCentral, Inc.
RNG'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.
RNG Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Strong | |
| Stable |
RNG's profitability and cash flow are currently healthy, and its revenue and balance sheet are 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.
RNG PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 10x | $75.89 | — |
| Forward | 14x | $75.89 | — |
| Cheap | 43x | $328 | +332% |
| Fair | 65x | $491 | +547% |
| Expensive | 182x | $1,375 | +1712% |
Historical ranges are pointers, not guarantees.
RNG 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 RNG on the outlook, with more favorable valuation expectations.
RNG Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for RNG, 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.
RNG Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.41 | -28% |
| Q3 2026 | $7.56 | +4940% |
| Q2 2026 | $1.25 | +$1.38 |
| Q1 2026 | $0.94 | +$1.37 |
| Q4 2025 | $0.48 | +$1.11 |
| Q3 2025 | $0.15 | +$1.20 |
| Q2 2025 | -$0.13 | +$1.28 |
| Q1 2025 | -$0.43 | +$1.05 |
| Q4 2024 | -$0.63 | +$1.11 |
RNG's earnings per share have climbed steadily: $7.56 over the past year, more than ten times what it earned the year before, and higher year over year for 13 quarters in a row.
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 RNG on sales, with stronger typical year-over-year growth.
| 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 RNG on profitability, with a higher operating margin.
RNG Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $676M | +5.9% |
| Q2 2026 | $657M | +5.9% |
| Q1 2026 | $644.2M | +5.3% |
| Q4 2025 | $644M | +4.8% |
| Q3 2025 | $638.7M | +4.9% |
| Q2 2025 | $620.4M | +4.6% |
| Q1 2025 | $612.1M | +4.8% |
| Q4 2024 | $614.5M | +7.6% |
RNG's revenue has grown year over year every quarter since late 2020: $676M last quarter, up 5.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 8% | +3.1 points |
| Q2 2026 | 7.7% | +1.7 points |
| Q1 2026 | 7.8% | +6.1 points |
| Q4 2025 | 6.6% | +4 points |
| Q3 2025 | 4.8% | +4.3 points |
| Q2 2025 | 6% | +6.9 points |
| Q1 2025 | 1.7% | +3.6 points |
| Q4 2024 | 2.5% | +10 points |
RNG's operating margin was 8% last quarter, up 3.1 points from the same quarter a year ago, near the top of its range since 2019.
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.
RNG Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $172.9M | +20% |
| Q2 2026 | $195.8M | +24% |
| Q1 2026 | $157.5M | +9.3% |
| Q4 2025 | $141M | +11% |
| Q3 2025 | $143.8M | +20% |
| Q2 2025 | $158.5M | +30% |
| Q1 2025 | $144.1M | +60% |
| Q4 2024 | $126.5M | +17% |
RNG has the edge over MU on cash flow, with more consistent year-over-year improvement.
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.
RNG Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.2% | +1.1M shares |
| 1 year | -4.7% | -4.3M shares |
| 3 years | -7.3% | -6.9M shares |
| 5 years | -4.5% | -4.1M shares |
| Available history | +5.5% | +4.6M shares |
RNG has the edge over MU on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $18M |
| Q2 2026 | $93.7M |
| Q1 2026 | $81.3M |
| Q4 2025 | $135.4M |
| Q3 2025 | $117.2M |
| Q2 2025 | $31.8M |
| Q1 2025 | $50M |
| Q4 2024 | $77.4M |
RNG spent $328M buying back its own shares over the past year, up 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 the edge over RNG on leverage, with a lower net debt burden relative to earnings.
RNG Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.1x | Moderate |
| Q2 2026 | 2.5x | Moderate |
| Q1 2026 | 2.8x | Moderate |
| Q4 2025 | 3.3x | Elevated |
| Q3 2025 | 3.5x | Elevated |
| Q2 2025 | 3.8x | Elevated |
| Q1 2025 | 4.9x | High |
| Q4 2024 | 5.7x | High |
RNG's net debt is about 2.1 years of its operating earnings (EBITDA), down from 3.5 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).
RNG Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 62.9 | Neutral |
| Stochastic | 47.8 | Neutral |
RNG's weekly RSI is 63 (neutral) and its Stochastic is 48 (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.
RNG PE vs Technology Sector
| Metric | RNG | Sector median | Relative |
|---|---|---|---|
| PE | 10x | 28x | 64% below |
| PE % | 2 | 35 | 33 pts below |
RNG 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 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.
RNG Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $77.7 | 2.4% below |
| 20 week MA | $66.4 | 14% above |
| 50 week MA | $47.9 | 59% above |
| 100 week MA | $38.4 | 98% above |
| 200 week MA | $35.6 | 113% above |
RNG 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 RNG on returns for 2026, with the stronger performance.
RNG Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $169.0 | $398.5 | +136% |
| 2021 | $398.5 | $192.5 | -52% |
| 2022 | $192.5 | $33.7 | -83% |
| 2023 | $33.7 | $34.0 | +0.9% |
| 2024 | $34.0 | $36.1 | +6.4% |
| 2025 | $36.1 | $29.6 | -18% |
| 2026 YTD | $29.6 | $75.9 | +157% |
RNG's yearly returns have swung widely, from +136% in 2020 to −83% in 2022. It's up 157% so far in 2026.