MU
Micron Technology, Inc.
MU has the edge over VRNS overall, supported by stronger valuation and stronger modeled upside.
VRNS
Varonis Systems, Inc.
VRNS'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.
VRNS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Weak | |
| Healthy | |
| Unavailable |
VRNS's revenue and cash flow are currently healthy, but its profitability is weak. There isn't enough data to rate its balance sheet.
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.
VRNS PE Valuation
VRNS 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.
VRNS Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| Low |
Analysts expect strong earnings and revenue growth for VRNS, with profitability improving. However, they disagree widely on these estimates.
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 VRNS on earnings quality, reporting a profit while its opponent remains loss making.
VRNS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.36 | — |
| Q3 2026 | -$1.32 | -$0.30 |
| Q2 2026 | -$1.22 | -$0.30 |
| Q1 2026 | -$1.13 | -$0.32 |
| Q4 2025 | -$1.13 | -$0.27 |
| Q3 2025 | -$1.02 | -$0.27 |
| Q2 2025 | -$0.92 | -$0.12 |
| Q1 2025 | -$0.81 | +$0.13 |
| Q4 2024 | -$0.86 | +$0.06 |
VRNS lost $1.32 per share over the past year, a bigger 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 VRNS 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 VRNS on profitability, with a higher operating margin.
VRNS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $189.5M | +17% |
| Q2 2026 | $180M | +18% |
| Q1 2026 | $173.1M | +27% |
| Q4 2025 | $173.4M | +9.4% |
| Q3 2025 | $161.6M | +9.1% |
| Q2 2025 | $152.2M | +17% |
| Q1 2025 | $136.4M | +20% |
| Q4 2024 | $158.5M | +2.9% |
VRNS's revenue has grown year over year for 12 quarters in a row: $189M last quarter, up 17% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -25% | -2.9 points |
| Q2 2026 | -23% | +1.4 points |
| Q1 2026 | -26% | +6.4 points |
| Q4 2025 | -17% | -6.4 points |
| Q3 2025 | -22% | -6.3 points |
| Q2 2025 | -24% | -1.9 points |
| Q1 2025 | -32% | +9.7 points |
| Q4 2024 | -11% | -7.7 points |
VRNS's operating margin was −25% last quarter, down 2.9 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 has the edge over VRNS on cash flow, with more consistent year-over-year improvement.
VRNS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $26.6M | -13% |
| Q2 2026 | $20.7M | +15% |
| Q1 2026 | $50.1M | -24% |
| Q4 2025 | $20.7M | +4.1% |
| Q3 2025 | $30.4M | +43% |
| Q2 2025 | $18M | +65% |
| Q1 2025 | $65.7M | +16% |
| Q4 2024 | $19.9M | +140% |
VRNS generated $118M in free cash flow over the past year, down 12% 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.
VRNS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +180K shares |
| 1 year | 0% | +24.1K shares |
| 3 years | +5.1% | +5.6M shares |
| 5 years | +7.4% | +8M shares |
| Available history | +27% | +24.2M shares |
VRNS has the edge over MU on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $135M |
| Q4 2025 | $15M |
| Q3 2025 | — |
| Q2 2025 | $38.7M |
| Q1 2025 | $61.3M |
| Q4 2024 | — |
VRNS spent $150M buying back its own shares over the past year, up 50% 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.
VRNS Net Leverage
VRNS's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
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).
VRNS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 62.7 | Neutral |
| Stochastic | 86.9 | Overbought |
VRNS's weekly RSI is 63 (neutral) and its Stochastic is 87 (overbought).
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.
VRNS PE vs Technology Sector
VRNS 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.
VRNS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $48.5 | 1.1% above |
| 20 week MA | $46.1 | 6.5% above |
| 50 week MA | $35.7 | 37% above |
| 100 week MA | $41.6 | 18% above |
| 200 week MA | $40.6 | 21% above |
VRNS 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 VRNS on returns for 2026, with the stronger performance.
VRNS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $26.2 | $56.7 | +117% |
| 2021 | $56.7 | $49.2 | -13% |
| 2022 | $49.2 | $23.4 | -52% |
| 2023 | $23.4 | $45.3 | +93% |
| 2024 | $45.3 | $45.0 | -0.7% |
| 2025 | $45.0 | $33.6 | -25% |
| 2026 YTD | $33.6 | $49.1 | +46% |
VRNS's yearly returns have swung widely, from +117% in 2020 to −52% in 2022. It's up 46% so far in 2026.