Micron Technology vs Nvidia
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The short version
- Nvidia is the larger business, with $215.9B of revenue in fiscal 2026 against $133.2B for Micron Technology, about 1.6 times as much.
- Micron Technology grew revenue faster (256.3%, against 65.5%).
- Micron Technology kept more of each dollar of sales as operating profit (74.6% operating margin, against 60.4%).
- Nvidia turned more of its sales into free cash flow (44.8% FCF margin, against 44.3%).
| Latest fiscal year | MU · FY26 | NVDA · FY26 |
|---|---|---|
| Size | ||
| Market cap | $1.00T | $5.12T |
| Revenue | $133.2B | $215.9B |
| Free cash flow | $59.0B | $96.7B |
| Net income | $85.0B | $120.1B |
| Growth | ||
| Revenue growth | 256.3% | 65.5% |
| 5-year growth | 36.9% | 66.9% |
| Share count change | 1.6% | −1.2% |
| Profitability | ||
| Gross margin | 80.7% | 71.1% |
| Operating margin | 74.6% | 60.4% |
| Net margin | 63.8% | 55.6% |
| FCF margin | 44.3% | 44.8% |
| Return on capital | 106.8% | — |
| Return on equity | 88.3% | 101.5% |
| Balance sheet | ||
| Net debt | −$38.3B | — |
| Net debt / EBITDA | −0.4x | — |
| Dividends and buybacks | $1.3B | $41.1B |
| Valuation & quality | ||
| P/E | — | 26.7x |
| Piotroski F-score | 8 | 4 |
FY17
MU $20.3B
NVDA $6.9B
FY18
MU $30.4B
NVDA $9.7B
FY19
MU $23.4B
NVDA $11.7B
FY20
MU $21.4B
NVDA $10.9B
FY21
MU $27.7B
NVDA $16.7B
FY22
MU $30.8B
NVDA $26.9B
FY23
MU $15.5B
NVDA $27.0B
FY24
MU $25.1B
NVDA $60.9B
FY25
MU $37.4B
NVDA $130.5B
FY26
MU $133.2B
NVDA $215.9B
MU
NVDA
FY17
MU 28.9%
NVDA 28.0%
FY18
MU 49.3%
NVDA 33.1%
FY19
MU 31.5%
NVDA 32.5%
FY20
MU 14.0%
NVDA 26.1%
FY21
MU 22.7%
NVDA 27.2%
FY22
MU 31.5%
NVDA 37.3%
FY23
MU −37.0%
NVDA 15.7%
FY24
MU 5.2%
NVDA 54.1%
FY25
MU 26.1%
NVDA 62.4%
FY26
MU 74.6%
NVDA 60.4%
MU
NVDA
FY17
MU $3.4B
NVDA —
FY18
MU $8.5B
NVDA —
FY19
MU $3.4B
NVDA —
FY20
MU $83.0M
NVDA —
FY21
MU $2.4B
NVDA —
FY22
MU $3.1B
NVDA $8.1B
FY23
MU −$6.1B
NVDA $3.8B
FY24
MU $121M
NVDA $27.0B
FY25
MU $1.7B
NVDA $60.9B
FY26
MU $59.0B
NVDA $96.7B
MU
NVDA
FY17
MU 27.2%
NVDA —
FY18
MU 54.5%
NVDA 185.8%
FY19
MU 21.0%
NVDA 121.6%
FY20
MU 7.7%
NVDA 74.4%
FY21
MU 14.8%
NVDA 57.1%
FY22
MU 19.7%
NVDA 68.8%
FY23
MU −9.5%
NVDA 23.4%
FY24
MU 1.7%
NVDA 124.9%
FY25
MU 15.9%
NVDA 198.2%
FY26
MU 106.8%
NVDA —
MU
NVDA
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.