MU
Micron Technology, Inc.
MU has the edge over U overall, supported by stronger valuation and stronger modeled upside.
U
Unity Software Inc.
U'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.
U Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Under pressure | |
| Strong | |
| Strong |
U's revenue, cash flow and balance sheet are currently strong, but its profitability 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.
U PE Valuation
U 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 30x 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.
U Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect U 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 U on earnings quality, reporting a profit while its opponent remains loss making.
U Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.65 | — |
| Q3 2026 | -$0.81 | +$0.24 |
| Q2 2026 | -$1.36 | -$0.30 |
| Q1 2026 | -$1.57 | -$0.45 |
| Q4 2025 | -$0.96 | +$0.72 |
| Q3 2025 | -$1.05 | +$0.99 |
| Q2 2025 | -$1.06 | +$0.99 |
| Q1 2025 | -$1.12 | +$1.12 |
| Q4 2024 | -$1.68 | +$0.48 |
U is still losing money, but far less than before: $0.81 per share over the past year, against $3.03 at its worst in early 2023.
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 U 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 U on profitability, with a higher operating margin.
U Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $622.1M | +32% |
| Q2 2026 | $546.5M | +24% |
| Q1 2026 | $508.2M | +17% |
| Q4 2025 | $503.1M | +10% |
| Q3 2025 | $470.6M | +5.4% |
| Q2 2025 | $440.9M | -1.9% |
| Q1 2025 | $435M | -5.5% |
| Q4 2024 | $457.1M | -25% |
U's revenue has grown year over year for five quarters in a row: $622M last quarter, up 32% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 16% | +43 points |
| Q2 2026 | -5.9% | +21 points |
| Q1 2026 | -69% | -40 points |
| Q4 2025 | -21% | +5.9 points |
| Q3 2025 | -27% | +1.7 points |
| Q2 2025 | -27% | +1.9 points |
| Q1 2025 | -29% | +52 points |
| Q4 2024 | -27% | +15 points |
U's operating margin was 16% last quarter, up 43 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.
U Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $219.7M | +45% |
| Q2 2026 | $202M | +59% |
| Q1 2026 | $66.5M | +809% |
| Q4 2025 | $118.7M | +12% |
| Q3 2025 | $151.3M | +31% |
| Q2 2025 | $126.7M | +59% |
| Q1 2025 | $7.3M | +$21.9M |
| Q4 2024 | $105.8M | +74% |
U 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 the edge over U 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.
U Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +14% | +60.3M shares |
| 1 year | +17% | +73.9M shares |
| 3 years | +30% | +114M shares |
| 5 years | +76% | +214M shares |
| Available history | +118% | +270M shares |
U has 498M diluted shares, up 17% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2024 | — |
| Q4 2023 | — |
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | — |
| Q2 2020 | — |
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.
U Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -66.1x | Net Cash |
U has the edge over MU on leverage, with a lower net debt burden relative to earnings.
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).
U Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 63.4 | Neutral |
| Stochastic | 71.1 | Neutral |
U's weekly RSI is 63 (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.
U PE vs Technology Sector
U 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.
U Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $44.1 | 14% above |
| 20 week MA | $40.4 | 24% above |
| 50 week MA | $34.0 | 48% above |
| 100 week MA | $31.5 | 59% above |
| 200 week MA | $29.9 | 68% above |
U 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 U on returns for 2026, with the stronger performance.
U Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $68.4 | $164.9 | +141% |
| 2021 | $164.9 | $145.6 | -12% |
| 2022 | $145.6 | $27.6 | -81% |
| 2023 | $27.6 | $40.9 | +48% |
| 2024 | $40.9 | $22.8 | -44% |
| 2025 | $22.8 | $45.2 | +98% |
| 2026 YTD | $45.2 | $50.2 | +11% |
U's yearly returns have swung widely, from +141% in 2020 to −81% in 2022. It's up 11% so far in 2026.