ASX vs MU vs AMAT Stock Comparison

ASE Technology Holding, Micron Technology and Applied Materials Prices as of Oct 23, 2026 Peers: Industry group
MU Micron Technology Inc
$877.55 -18.1% 1M +324.5% 1Y
Market cap
$1.03T
P/E
12.1x
Revenue (TTM)
$133.19B
Div. yield
0.00%
Semiconductor Manufacturing Technology
10 wins

Head to Head

11 decided of 12

Micron Technology leads on 10 of the 12 questions below (Micron Technology 10, ASE Technology Holding 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionASXMUAMATLeader
Larger companyMarket capitalisation $86.83B $1.03T $309.97B MU
Cheaper on earningsLower P/E, profitable companies only 44.5x 12.1x 33.4x MU
Cheaper on forward earningsLower price / next fiscal year consensus EPS 30.7x 4.8x 27.9x MU
Faster revenue growthRevenue growth, trailing twelve months +18.2% +256.3% +7.8% MU
More profitableNet margin, trailing twelve months 8.5% 63.8% 30.1% MU
Better return on capitalReturn on invested capital 11.1% 67.7% 25.3% MU
Less leveragedLower net debt / EBITDA 1.1x -0.4x -0.3x MU
Higher dividend yieldTrailing dividend yield 0.00% 0.00% 0.00% –
Better 1-year returnPrice return, last 12 months +201.8% +324.5% +65.1% MU
Better 5-year returnAnnualised price return, 5 years +41.6%/yr +67.1%/yr +22.7%/yr MU
Less volatileAnnualised volatility, 1 year 57.9% 80.8% 60.4% ASX
Higher overall scoreMean of the five percentile scores vs peers 60/100 88/100 60/100 MU

Percentile Scorecard

ASXMUAMAT

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisASXMUAMAT
Valuation 75 #25 of 95 87 #13 of 95 55 #43 of 95
Growth 78 #21 of 93 100 #1 of 93 49 #48 of 93
Profitability 68 #30 of 91 100 #1 of 91 89 #11 of 91
Financial Health 17 #85 of 102 73 #28 of 102 52 #50 of 102
Shareholder Returns 61 #30 of 76 77 #18 of 76 53 #36 of 76
Overall 60 88 60
  • ASX ranked among 104 companies in Semiconductors
  • MU ranked among 104 companies in Semiconductors
  • AMAT ranked among 104 companies in Semiconductors

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodASXMUAMATSPY
1 month -11.9%-18.1%-20.5% -1.0%
3 months +5.0%-4.7%-29.7% +2.9%
6 months +20.9%+76.7%-9.5% +6.4%
Year to date +140.3%+207.5%+46.8% +11.4%
1 year +201.8%+324.5%+65.1% +13.1%
3 years +401.2%+1,189.2%+179.6% +79.4%
3 years, per year +71.2%+134.6%+40.9% +21.5%
5 years +468.1%+1,199.9%+177.5% +67.7%
5 years, per year +41.6%+67.1%+22.7% +10.9%
10 years +554.7%+5,080.3%+1,226.9% +255.2%
10 years, per year +20.7%+48.4%+29.5% +13.5%

Risk

MeasureASXMUAMATSPY
Volatility, 1Y 57.9%80.8%60.4% 12.7%
Downside volatility, 1Y 62.4%74.6%62.2% 12.7%
Beta vs S&P 500, 1Y 2.573.342.74 1.00
Return / volatility, 1Y 3.494.021.08 1.03
Max drawdown, 5Y -43.1%-57.8%-55.4% -25.4%
From 52-week high -18.8%-27.7%-47.8% -2.5%
52-week high $47.62$1,213.56$723.00 $779.14
52-week low $12.82$201.37$220.23 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleASXMUAMAT
P/E now vs peer median 43.0xmedian 41.5x 11.6xmedian 41.5x 32.3xmedian 41.5x
P/S now vs peer median 3.8xmedian 6.9x 7.5xmedian 6.9x 9.7xmedian 6.9x
EV/EBITDA now vs peer median 19.7xmedian 27.3x 8.8xmedian 27.3x 30.7xmedian 27.3x
P/FCF now vs peer median 7.1xmedian 35.6x 16.8xmedian 35.6x 53.2xmedian 35.6x
P/B now vs peer median 7.0xmedian 4.2x 7.2xmedian 4.2x 11.7xmedian 4.2x
PEG now vs peer median 5.54median 2.31 0.08median 2.31 2.17median 2.31

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsASXMUAMAT
Revenue $22.92B $133.19B $30.84B
Gross profit $4.46B $107.50B $15.23B
Operating income $2.24B $99.34B $9.14B
Net income $2.65B $84.97B $9.27B
Free cash flow $12.11B $58.96B $5.62B
R&D $1.18B $5.65B $3.97B
EPS (diluted) $0.88 $74.34 $11.58
Cash & equivalents $2.86B $38.36B $7.04B
Total debt $31.57B $5.18B $26.11B
Shares (diluted) 2.21B 1.14B 800.00M
Enterprise value $74.84B $931.09B $275.41B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricASXMUAMAT
P/E 43.0x 11.6x 32.3x
P/FCF 7.1x 16.8x 53.2x
P/Operating cash flow 15.9x 11.1x 35.7x
P/S 3.8x 7.5x 9.7x
P/B 7.0x 7.2x 11.7x
P/Tangible book 8.5x 7.2x 11.8x
EV/EBITDA 19.7x 8.8x 30.7x
EV/EBIT 40.8x 9.6x 32.5x
EV/Revenue 4.0x 7.2x 9.6x
EV/FCF 7.5x 16.2x 52.8x
EV/Operating cash flow 16.8x 10.6x 35.3x
PEG (3Y EPS CAGR) 5.54 0.08 2.17

Growth

14 metrics
MetricASXMUAMAT
Revenue growth (1Y) 18.2% 256.3% 7.8%
Revenue CAGR (3Y) 3.6% 104.6% 5.1%
Gross profit growth (1Y) 37.8% 622.8% 9.8%
Gross profit CAGR (3Y) 6.5% 327.1% 7.3%
Operating income growth (1Y) 68.3% 916.8% 6.0%
Operating income CAGR (3Y) 4.3% 168.2% 6.0%
Net income growth (1Y) 83.5% 895.1% 35.6%
Net income CAGR (3Y) 3.2% 154.9% 12.9%
EPS growth (1Y) 81.8% 879.4% 36.0%
EPS CAGR (3Y) 7.8% 151.6% 14.9%
Operating cash flow growth (1Y) 51.2% 411.7% 9.0%
Operating cash flow CAGR (3Y) 13.0% 286.0% 1.6%
Free cash flow growth (1Y) 57.3% 3,435% -3.4%
Free cash flow CAGR (3Y) 27.4% 126.6% -7.0%

Profitability

14 metrics
MetricASXMUAMAT
Gross margin 19.5% 80.7% 49.4%
EBITDA margin 20.2% 81.7% 31.4%
Operating margin 9.8% 74.6% 29.6%
Pretax margin 10.7% 74.8% 34.8%
Net margin 8.5% 63.8% 30.1%
FCF margin 52.9% 44.3% 18.2%
Operating cash flow margin 23.6% 67.3% 27.2%
Return on equity 22.0% 71.0% 37.4%
Return on assets 8.4% 51.5% 22.1%
Return on invested capital 11.1% 67.7% 25.3%
Return on capital employed 8.4% 72.2% 29.0%
Asset turnover 0.7x 0.8x 0.7x
Cash conversion (OCF / net income) 2.0x 1.1x 0.9x
Stock comp / revenue – 1.0% 2.3%

Financial Health

11 metrics
MetricASXMUAMAT
Debt / assets 25.2% 2.6% 15.0%
Debt / equity 0.7x 0.0x 0.3x
Net debt / EBITDA 1.1x -0.4x -0.3x
Debt / FCF 0.7x 0.1x 1.2x
Liabilities / assets 63.7% 29.4% 41.1%
Equity / assets 36.3% 70.6% 58.9%
Interest coverage 9.9x 937.2x 33.0x
Current ratio 0.3x 3.3x 2.4x
Quick ratio 1.5x 2.9x 1.6x
Cash ratio 0.6x 1.6x 0.9x
Altman Z-score – 14.04 13.82

Shareholder Returns

7 metrics
MetricASXMUAMAT
Dividend yield 1.0% 0.1% 0.5%
Net buyback yield – 0.1% 0.6%
Shareholder yield 1.0% 0.1% 1.2%
Payout ratio (earnings) – 0.7% –
Payout ratio (FCF) – 1.0% –
Dividend growth (1Y) – 16.9% –
Dividend CAGR (3Y) – 6.6% –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusASXMUAMAT
Forward P/E 30.7xFY2026 4.8xFY2027 27.9xFY2026
EPS, next fiscal year $1.26FY2026 $184.06FY2027 $13.51FY2026
EPS growth, next FY +125.0%FY2026 +143.7%FY2027 +43.4%FY2026
EPS growth, the year after +38.1% +17.3% +32.3%
Revenue, next fiscal year $24.29BFY2026 $294.65BFY2027 $32.74BFY2026
Revenue growth, next FY +19.3%FY2026 +121.2%FY2027 +15.4%FY2026
Revenue growth, the year after +32.0% +15.2% +38.0%
ASX estimates →MU estimates →AMAT estimates →

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersASXMUAMAT
Held by institutions 6.9% 77.9% 83.6%
Institutions holding 482 3,898 3,504
Change in shares held, QoQ -2.5% +4.2% +6.0%
Institutions buying 308 2,302 1,789
Institutions selling 133 1,431 1,348
Buyers to sellers 2.32 1.61 1.33
ASX holders →MU holders →AMAT holders →

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

ASXMUAMAT
ASX 1.00 0.63 0.71
MU 0.63 1.00 0.73
AMAT 0.71 0.73 1.00

Add a Peer

Largest companies in the same industry
ASX · Semiconductor Packaging and Testing
+TSMTaiwan Semiconductor Manufacturing +INTCIntel +UMCUnited Microelectronics +MCHPMicrochip Technology +GFSGlobalfoundries +MTSIMACOM Technology Solutions Holdings +FNFabrinet +AMKRAmkor Technology
Plot all 21 Semiconductor Packaging and Testing stocks → Plot all 26 Semiconductor Manufacturing stocks → Plot all 21 Semiconductor Equipment stocks →

Related Comparisons

ASX vs TSMTaiwan Semiconductor Manufacturing ASX vs INTCIntel ASX vs UMCUnited Microelectronics ASX vs MCHPMicrochip Technology

Frequently Asked Questions

Which is bigger, ASX, MU and AMAT?

Micron Technology (MU) is the largest by market capitalisation: ASE Technology Holding (ASX) $86.83B, Micron Technology (MU) $1.03T, Applied Materials (AMAT) $309.97B.

Which stock is cheaper, ASX, MU and AMAT?

Micron Technology (MU) trades on the lowest price-to-earnings ratio (ASE Technology Holding (ASX) 44.5x, Micron Technology (MU) 12.1x, Applied Materials (AMAT) 33.4x). On next year's consensus earnings, Micron Technology (MU) is cheapest (ASE Technology Holding (ASX) 30.7x, Micron Technology (MU) 4.8x, Applied Materials (AMAT) 27.9x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Micron Technology (MU) grew revenue fastest over the trailing twelve months: ASE Technology Holding (ASX) +18.2%, Micron Technology (MU) +256.3%, Applied Materials (AMAT) +7.8%.

Which company is more profitable?

Micron Technology (MU) has the highest net margin (ASE Technology Holding (ASX) 8.5%, Micron Technology (MU) 63.8%, Applied Materials (AMAT) 30.1%). On return on invested capital, Micron Technology (MU) leads (ASE Technology Holding (ASX) 11.1%, Micron Technology (MU) 67.7%, Applied Materials (AMAT) 25.3%).

Which stock has performed better?

Over the past year Micron Technology (MU) returned the most: ASE Technology Holding (ASX) +201.8%, Micron Technology (MU) +324.5%, Applied Materials (AMAT) +65.1%. Over five years, Micron Technology (MU) compounded fastest (ASE Technology Holding (ASX) +41.6%/yr, Micron Technology (MU) +67.1%/yr, Applied Materials (AMAT) +22.7%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Only one of these companies pays a dividend: ASE Technology Holding (ASX) 0.00%, Micron Technology (MU) 0.00%, Applied Materials (AMAT) 0.00%. ASE Technology Holding (ASX) and Applied Materials (AMAT) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, ASE Technology Holding (ASX) has been the steadiest (ASE Technology Holding (ASX) 57.9%, Micron Technology (MU) 80.8%, Applied Materials (AMAT) 60.4%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, ASX, MU and AMAT?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Micron Technology (MU) leads on 10. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.