MU
Micron Technology, Inc.
MU has the edge over SNPS overall, supported by stronger valuation and stronger modeled upside.
SNPS
Synopsys, Inc.
SNPS'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.
SNPS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Strong | |
| Stable |
SNPS's revenue and cash flow are currently healthy, and its profitability 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 has the edge over SNPS in the historical PE scenario, which offers more potential upside but is not a forecast.
SNPS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 25x | $463 | — |
| Cheap | 43x | $244 | -47% |
| Fair | 56x | $322 | -30% |
| Expensive | 69x | $396 | -15% |
| Current | 81x | $463 | — |
Historical ranges are pointers, not guarantees.
SNPS's PE is in its expensive range at 81x, but its recent earnings include one-off gains. If earnings grow as analysts expect, today's price would be 25x next year's earnings, in its cheap range.
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.
SNPS Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for SNPS, 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 SNPS on earnings, with more consistent year-over-year improvement.
SNPS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $18.70 | +228% |
| Q3 2026 | $5.71 | -55% |
| Q2 2026 | $4.37 | -68% |
| Q1 2026 | $6.49 | -52% |
| Q4 2025 | $8.04 | -45% |
| Q3 2025 | $12.73 | +32% |
| Q2 2025 | $13.84 | +51% |
| Q1 2025 | $13.51 | +49% |
| Q4 2024 | $14.51 | +83% |
SNPS's earnings per share have fallen from their peak: $5.71 over the past year, against $14.51 in late 2024. 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 SNPS 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 SNPS on profitability, with a higher operating margin.
SNPS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.5B | +42% |
| Q2 2026 | $2.3B | +42% |
| Q1 2026 | $2.4B | +66% |
| Q4 2025 | $2.3B | +38% |
| Q3 2025 | $1.7B | +14% |
| Q2 2025 | $1.6B | +10% |
| Q1 2025 | $1.5B | -12% |
| Q4 2024 | $1.6B | +2.3% |
SNPS's revenue has grown year over year for six quarters in a row: $2.5B last quarter, up 42% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 14% | +4.9 points |
| Q2 2026 | 5.3% | -18 points |
| Q1 2026 | 8.4% | -8.9 points |
| Q4 2025 | 5.4% | -14 points |
| Q3 2025 | 9.5% | -14 points |
| Q2 2025 | 23% | +0.6 points |
| Q1 2025 | 17% | -4.5 points |
| Q4 2024 | 19% | -7.9 points |
SNPS's operating margin was 14% last quarter, up 4.9 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.
SNPS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $746.3M | +18% |
| Q2 2026 | $574.7M | +162% |
| Q1 2026 | $821.5M | +$929.7M |
| Q4 2025 | $605.2M | +8.4% |
| Q3 2025 | $632.4M | +52% |
| Q2 2025 | $219.8M | -50% |
| Q1 2025 | -$108.2M | +$20M |
| Q4 2024 | $558.4M | +105% |
SNPS generated $2.7B in free cash flow over the past year, up 111% 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 SNPS 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.
SNPS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +175K shares |
| 1 year | +19% | +30.6M shares |
| 3 years | +24% | +37.4M shares |
| 5 years | +23% | +35.4M shares |
| Available history | +25% | +38.1M shares |
SNPS has 192M diluted shares, up 19% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $37.5M |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | $300M |
| Q3 2023 | $300M |
| Q2 2023 | $300M |
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 SNPS on leverage, with a lower net debt burden relative to earnings.
SNPS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.5x | Moderate |
| Q2 2026 | 3.7x | Elevated |
| Q1 2026 | 4.1x | High |
| Q4 2025 | 6.7x | High |
| Q3 2025 | 8.3x | High |
| Q2 2025 | -2.6x | Net Cash |
| Q1 2025 | -2.4x | Net Cash |
| Q4 2024 | -2.3x | Net Cash |
SNPS's net debt is about 2.5 years of its operating earnings (EBITDA), down from 8.3 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).
SNPS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 52.8 | Neutral |
| Stochastic | 65.2 | Neutral |
SNPS's weekly RSI is 53 (neutral) and its Stochastic is 65 (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 SNPS on valuation relative to its sector.
SNPS PE vs Technology Sector
| Metric | SNPS | Sector median | Relative |
|---|---|---|---|
| PE | 81x | 28x | 191% above |
| PE % | 95 | 35 | 60 pts above |
SNPS is trading at 81x earnings, a 191% premium 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.
SNPS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $461.4 | 0.3% above |
| 20 week MA | $428.7 | 7.9% above |
| 50 week MA | $447.4 | 3.4% above |
| 100 week MA | $469.7 | 1.5% below |
| 200 week MA | $479.9 | 3.6% below |
SNPS has bounced recently, but its long-term trend is still down: it's above its 8-, 20- and 50-week averages, but 3.6% 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 SNPS on returns for 2026, with the stronger performance.
SNPS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $140.6 | $256.3 | +82% |
| 2021 | $256.3 | $366.2 | +43% |
| 2022 | $366.2 | $320.2 | -13% |
| 2023 | $320.2 | $514.9 | +61% |
| 2024 | $514.9 | $490.9 | -4.7% |
| 2025 | $490.9 | $477.1 | -2.8% |
| 2026 YTD | $477.1 | $462.7 | -3% |
SNPS has finished lower in three of the last six years. It's down 3% so far in 2026.