How Does Micron Technology Stock Stack Up Against Its Peers?
Micron‘s stock has performed strongly over the past year, but how does it truly measure up against peers rapidly scaling in the memory and data-center boom? A closer look reveals robust revenue growth and a moderate valuation, yet its profitability and free cash flow margins trail some competitors, suggesting upside may rely on sustained high-performance memory demand. This is particularly relevant as AI data centers are creating unprecedented demand for advanced memory chips, with tight supply leading to surging prices for DRAM and NAND through 2026. Micron is well-positioned, with its HBM3E production reportedly sold out through 2026 and investments in new manufacturing facilities to capture the AI market.
- MU’s 26.2% operating margin, high vs. peers, reflects its strategic pivot to higher-margin enterprise memory, notably 52% gross margin in datacenter.
- MU’s 48.9% LTM revenue growth, outpacing peers, is fueled by surging AI demand for HBM and tight supply, driving broad DRAM/NAND price hikes.
- MU’s 135.5% stock gain reflects an AI memory supercycle and HBM leadership; its 22.0 PE remains below the industry average despite strong growth.
Here’s how Micron Technology stacks up across size, valuation, and profitability versus key peers.
| MU | TXN | ADI | STX | WDC | MCHP | |
|---|---|---|---|---|---|---|
| Market Cap ($ Bil) | 262.7 | 166.0 | 137.6 | 55.6 | 54.4 | 34.3 |
| Revenue ($ Bil) | 37.4 | 17.3 | 10.4 | 9.1 | 13.3 | 4.2 |
| PE Ratio | 22.0 | 33.1 | 60.1 | 34.5 | 22.5 | -187.4 |
| LTM Revenue Growth | 48.9% | 9.9% | 7.1% | 38.9% | 39.2% | -23.4% |
| LTM Operating Margin | 26.2% | 34.8% | 25.3% | 21.1% | 21.1% | 3.7% |
| LTM FCF Margin | 4.5% | 12.0% | 35.4% | 9.0% | 9.6% | 17.9% |
| 12M Market Return | 135.5% | -4.4% | 27.8% | 168.2% | 190.9% | 0.3% |
For more details on Micron Technology, read Buy or Sell MU Stock. Below we compare MU’s growth, margin, and valuation with peers across years
Revenue Growth Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| MU | 48.9% | 48.9% | 61.6% | -49.5% | |
| TXN | 9.9% | – | -10.7% | -12.5% | 9.2% |
| ADI | 7.1% | – | -23.4% | 2.4% | 64.2% |
| STX | 38.9% | 38.9% | -11.3% | -36.7% | |
| WDC | 39.2% | 50.7% | 1.0% | -66.7% | |
| MCHP | -23.4% | -42.3% | -9.5% | 23.7% |
Operating Margin Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| MU | 26.2% | 26.2% | 5.2% | -34.8% | |
| TXN | 34.8% | – | 34.1% | 41.8% | 51.9% |
| ADI | 25.3% | – | 22.0% | 32.4% | 29.6% |
| STX | 21.1% | 21.1% | 6.4% | 0.8% | |
| WDC | 21.1% | 22.4% | 1.5% | -6.4% | |
| MCHP | 3.7% | 8.5% | 33.5% | 36.9% |
PE Ratio Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| MU | 22.0 | 11.0 | 121.2 | -9.4 | |
| TXN | 33.1 | – | 35.6 | 23.8 | 17.3 |
| ADI | 60.1 | – | 64.5 | 30.1 | 31.0 |
| STX | 34.5 | 12.5 | 53.3 | -20.6 | |
| WDC | 22.5 | 11.1 | -21.4 | -6.0 | |
| MCHP | -187.4 | -61628.3 | 25.6 | 17.3 |
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