Broadcom
AVGO · Semiconductors
$321.68
0.5%Micron Technology
MU · Semiconductors
$877.55
2.5%The short version
- Micron Technology is the larger business, with $133.2B of revenue in fiscal 2026 against $63.9B for Broadcom, about 2.1 times as much.
- Micron Technology grew revenue faster (256.3%, against 23.9%).
- Micron Technology kept more of each dollar of sales as operating profit (74.6% operating margin, against 39.9% operating margin).
- Micron Technology turned more of its sales into free cash flow (44.3% FCF margin, against 42.1% FCF margin).
- Micron Technology earned a higher return on the capital invested in it (106.8%, against 19.9%).
- Investors pay more for each dollar of Broadcom’s earnings: a P/E of 41.0x against 11.8x for Micron Technology.
| Latest fiscal year | AVGO · FY25 | MU · FY26 |
|---|---|---|
| Size | ||
| Market cap | $1.57T | $1.00T |
| Revenue | $63.9B | $133.2B |
| Free cash flow | $26.9B | $59.0B |
| Net income | $23.1B | $85.0B |
| Growth | ||
| Revenue growth | 23.9% | 256.3% |
| 5-year growth | 21.7% | 36.9% |
| Share count change | 1.6% | 1.6% |
| Profitability | ||
| Gross margin | 67.8% | 80.7% |
| Operating margin | 39.9% | 74.6% |
| Net margin | 36.2% | 63.8% |
| FCF margin | 42.1% | 44.3% |
| Return on capital | 19.9% | 106.8% |
| Return on equity | 31.1% | 88.3% |
| Balance sheet | ||
| Net debt | $49.0B | −$38.3B |
| Net debt / EBITDA | 1.4x | −0.4x |
| Dividends and buybacks | $13.6B | $1.3B |
| Valuation & quality | ||
| P/E | 41.0x | 11.8x |
| Piotroski F-score | 7 | 8 |
FY17
AVGO $17.6B
MU $20.3B
FY18
AVGO $20.8B
MU $30.4B
FY19
AVGO $22.6B
MU $23.4B
FY20
AVGO $23.9B
MU $21.4B
FY21
AVGO $27.5B
MU $27.7B
FY22
AVGO $33.2B
MU $30.8B
FY23
AVGO $35.8B
MU $15.5B
FY24
AVGO $51.6B
MU $25.1B
FY25
AVGO $63.9B
MU $37.4B
FY26
AVGO —
MU $133.2B
AVGO
MU
FY17
AVGO 13.4%
MU 28.9%
FY18
AVGO 24.6%
MU 49.3%
FY19
AVGO 15.2%
MU 31.5%
FY20
AVGO 16.8%
MU 14.0%
FY21
AVGO 31.0%
MU 22.7%
FY22
AVGO 42.8%
MU 31.5%
FY23
AVGO 45.3%
MU −37.0%
FY24
AVGO 26.1%
MU 5.2%
FY25
AVGO 39.9%
MU 26.1%
FY26
AVGO —
MU 74.6%
AVGO
MU
FY17
AVGO $5.5B
MU $3.4B
FY18
AVGO $8.2B
MU $8.5B
FY19
AVGO $9.3B
MU $3.4B
FY20
AVGO $11.6B
MU $83.0M
FY21
AVGO $13.3B
MU $2.4B
FY22
AVGO $16.3B
MU $3.1B
FY23
AVGO $17.6B
MU −$6.1B
FY24
AVGO $19.4B
MU $121M
FY25
AVGO $26.9B
MU $1.7B
FY26
AVGO —
MU $59.0B
AVGO
MU
FY17
AVGO —
MU 27.2%
FY18
AVGO 14.8%
MU 54.5%
FY19
AVGO 7.4%
MU 21.0%
FY20
AVGO 7.3%
MU 7.7%
FY21
AVGO 15.4%
MU 14.8%
FY22
AVGO 25.7%
MU 19.7%
FY23
AVGO 30.6%
MU −9.5%
FY24
AVGO 9.6%
MU 1.7%
FY25
AVGO 19.9%
MU 15.9%
FY26
AVGO —
MU 106.8%
AVGO
MU
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.