MU vs STM vs ON Stock Comparison

Micron Technology, STMicroelectronics and On Semiconductor Prices as of Oct 28, 2026 Peers: Industry group
MU Micron Technology Inc
$983.23 -6.7% 1M +343.1% 1Y
Market cap
$1.11T
P/E
13.0x
Revenue (TTM)
$133.19B
Div. yield
0.06%
Semiconductor Manufacturing Technology
10 wins
STM STMicroelectronics N.V.
$48.54 -8.0% 1M +92.5% 1Y
Market cap
$43.14B
P/E
93.0x
Revenue (TTM)
$13.10B
Div. yield
0.74%
Semiconductor Manufacturing Technology
2 wins
ON On Semiconductor Corp
$75.63 0.0% 1M +46.0% 1Y
Market cap
$29.44B
P/E
46.8x
Revenue (TTM)
$6.20B
Div. yield
–
Semiconductor Manufacturing Technology

Head to Head

12 decided of 12

Micron Technology leads on 10 of the 12 questions below (Micron Technology 10, STMicroelectronics 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionMUSTMONLeader
Larger companyMarket capitalisation $1.11T $43.14B $29.44B MU
Cheaper on earningsLower P/E, profitable companies only 13.0x 93.0x 46.8x MU
Cheaper on forward earningsLower price / next fiscal year consensus EPS 5.3x 37.6x 22.6x MU
Faster revenue growthRevenue growth, trailing twelve months +256.3% +10.5% -3.1% MU
More profitableNet margin, trailing twelve months 63.8% 3.6% 10.2% MU
Better return on capitalReturn on invested capital 67.7% 3.9% 5.4% MU
Less leveragedLower net debt / EBITDA -0.4x — 0.4x MU
Higher dividend yieldTrailing dividend yield 0.06% 0.74% — STM
Better 1-year returnPrice return, last 12 months +343.1% +92.5% +46.0% MU
Better 5-year returnAnnualised price return, 5 years +70.1%/yr +0.4%/yr +9.5%/yr MU
Less volatileAnnualised volatility, 1 year 80.8% 60.2% 63.2% STM
Higher overall scoreMean of the five percentile scores vs peers 88/100 40/100 59/100 MU

Percentile Scorecard

MUSTMON

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

AxisMUSTMON
Valuation 86 #14 of 94 79 #21 of 94 81 #19 of 94
Growth 100 #1 of 92 11 #82 of 92 19 #75 of 92
Profitability 100 #1 of 90 38 #56 of 90 64 #33 of 90
Financial Health 74 #27 of 99 40 #60 of 99 33 #67 of 99
Shareholder Returns 81 #15 of 73 32 #50 of 73 99 #2 of 73
Overall 88 40 59
  • MU ranked among 103 companies in Semiconductors
  • STM ranked among 103 companies in Semiconductors
  • ON ranked among 103 companies in Semiconductors

Price Performance

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

Returns

PeriodMUSTMONSPY
1 month -6.7%-8.0%0.0% +0.9%
3 months +33.0%+0.3%-4.1% +5.9%
6 months +89.6%-7.8%-23.5% +8.5%
Year to date +244.5%+87.1%+39.7% +13.3%
1 year +343.1%+92.5%+46.0% +12.4%
3 years +1,397.7%+22.6%-9.4% +88.1%
3 years, per year +146.6%+7.0%-3.3% +23.5%
5 years +1,322.9%+1.9%+57.3% +68.2%
5 years, per year +70.1%+0.4%+9.5% +11.0%
10 years +5,616.5%+427.0%+555.9% +263.4%
10 years, per year +49.9%+18.1%+20.7% +13.8%

Risk

MeasureMUSTMONSPY
Volatility, 1Y 80.8%60.2%63.2% 12.7%
Downside volatility, 1Y 74.6%61.2%66.6% 12.7%
Beta vs S&P 500, 1Y 3.362.872.64 1.00
Return / volatility, 1Y 4.241.540.73 0.98
Max drawdown, 5Y -57.8%-67.2%-70.4% -25.4%
From 52-week high -19.0%-39.3%-43.5% -0.9%
52-week high $1,213.56$79.91$133.93 $779.14
52-week low $201.37$21.20$44.90 $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.

MultipleMUSTMON
P/E now vs peer median 13.0xmedian 46.0x 93.0xmedian 46.0x 46.8xmedian 46.0x
P/S now vs peer median 8.3xmedian 7.9x 3.3xmedian 7.9x 4.8xmedian 7.9x
EV/EBITDA now vs peer median 9.9xmedian 28.3x —median 28.3x 20.4xmedian 28.3x
P/FCF now vs peer median 18.9xmedian 41.4x —median 41.4x 19.6xmedian 41.4x
P/B now vs peer median 8.0xmedian 4.6x 2.3xmedian 4.6x 4.1xmedian 4.6x
PEG now vs peer median 0.09median 2.30 -1.78median 2.30 -1.61median 2.30

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 monthsMUSTMON
Revenue $133.19B $13.10B $6.20B
Gross profit $107.50B $4.49B $2.34B
Operating income $99.34B $804.00M $669.70M
Net income $84.97B -$33.00M $633.80M
Free cash flow $58.96B – $1.50B
R&D $5.65B $2.11B $560.80M
EPS (diluted) $74.34 $0.50 $1.56
Cash & equivalents $38.36B $3.10B $3.51B
Total debt $5.18B $1.91B $4.46B
Shares (diluted) 1.14B 923.05M 404.40M
Enterprise value $1.02T $29.41B $17.77B

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
MetricMUSTMON
P/E 13.0x 93.0x 46.8x
P/FCF 18.9x – 19.6x
P/Operating cash flow 12.4x – 17.6x
P/S 8.3x 3.3x 4.8x
P/B 8.0x 2.3x 4.1x
P/Tangible book 8.0x 2.6x 4.3x
EV/EBITDA 9.9x – 20.4x
EV/EBIT 10.8x 50.7x 44.9x
EV/Revenue 8.1x 3.1x 4.8x
EV/FCF 18.2x – 20.0x
EV/Operating cash flow 12.0x – 18.0x
PEG (3Y EPS CAGR) 0.09 -1.78 -1.61

Growth

14 metrics
MetricMUSTMON
Revenue growth (1Y) 256.3% 10.5% -3.1%
Revenue CAGR (3Y) 104.6% 0.2% -9.5%
Gross profit growth (1Y) 622.8% 5.7% -3.6%
Gross profit CAGR (3Y) 327.1% -18.8% -16.3%
Operating income growth (1Y) 916.8% 28.0% 41.4%
Operating income CAGR (3Y) 168.2% -45.3% -34.4%
Net income growth (1Y) 895.1% -106.8% 35.4%
Net income CAGR (3Y) 154.9% -26.2% -31.3%
EPS growth (1Y) 879.4% -27.2% 38.8%
EPS CAGR (3Y) 151.6% -52.3% -29.0%
Operating cash flow growth (1Y) 411.7% – -8.7%
Operating cash flow CAGR (3Y) 286.0% – -12.9%
Free cash flow growth (1Y) 3,435% – 16.6%
Free cash flow CAGR (3Y) 126.6% – 9.8%

Profitability

14 metrics
MetricMUSTMON
Gross margin 80.7% 34.3% 37.7%
EBITDA margin 81.7% – 23.7%
Operating margin 74.6% 6.1% 10.8%
Pretax margin 74.8% 5.7% 11.6%
Net margin 63.8% 3.6% 10.2%
FCF margin 44.3% – 24.2%
Operating cash flow margin 67.3% – 27.0%
Return on equity 71.0% 2.6% 8.7%
Return on assets 51.5% 1.8% 5.0%
Return on invested capital 67.7% 3.9% 5.4%
Return on capital employed 72.2% 3.7% 6.3%
Asset turnover 0.8x 0.5x 0.5x
Cash conversion (OCF / net income) 1.1x – 2.6x
Stock comp / revenue 1.0% 1.4% 2.4%

Financial Health

11 metrics
MetricMUSTMON
Debt / assets 2.6% 6.7% 33.1%
Debt / equity 0.0x 0.1x 0.6x
Net debt / EBITDA -0.4x – 0.4x
Debt / FCF 0.1x – 3.0x
Liabilities / assets 29.4% 33.6% 46.3%
Equity / assets 70.6% 66.4% 53.7%
Interest coverage 937.2x – 10.9x
Current ratio 3.3x 2.5x 3.5x
Quick ratio 2.9x 1.5x 2.3x
Cash ratio 1.6x 0.8x 1.8x
Altman Z-score 15.29 4.25 4.79

Shareholder Returns

7 metrics
MetricMUSTMON
Dividend yield 0.1% 0.7% –
Net buyback yield 0.1% -0.7% 3.9%
Shareholder yield 0.1% 0.0% 3.9%
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.

ConsensusMUSTMON
Forward P/E 5.3xFY2027 37.6xFY2026 22.6xFY2026
EPS, next fiscal year $184.21FY2027 $1.29FY2026 $3.34FY2026
EPS growth, next FY +143.9%FY2027 +143.4%FY2026 +42.1%FY2026
EPS growth, the year after +17.3% +103.1% +30.5%
Revenue, next fiscal year $294.86BFY2027 $13.79BFY2026 $6.21BFY2026
Revenue growth, next FY +121.4%FY2027 +16.9%FY2026 +3.5%FY2026
Revenue growth, the year after +15.2% +18.2% +26.9%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersMUSTMON
Held by institutions 77.9% 19.0% 100.0%
Institutions holding 3,901 603 998
Change in shares held, QoQ +4.2% +57.4% -1.0%
Institutions buying 2,304 429 552
Institutions selling 1,432 108 334
Buyers to sellers 1.61 3.97 1.65

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.

MUSTMON
MU 1.00 0.57 0.54
STM 0.57 1.00 0.71
ON 0.54 0.71 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, MU, STM and ON?

Micron Technology (MU) is the largest by market capitalisation: Micron Technology (MU) $1.11T, STMicroelectronics (STM) $43.14B, On Semiconductor (ON) $29.44B.

Which stock is cheaper, MU, STM and ON?

Micron Technology (MU) trades on the lowest price-to-earnings ratio (Micron Technology (MU) 13.0x, STMicroelectronics (STM) 93.0x, On Semiconductor (ON) 46.8x). On next year's consensus earnings, Micron Technology (MU) is cheapest (Micron Technology (MU) 5.3x, STMicroelectronics (STM) 37.6x, On Semiconductor (ON) 22.6x). 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: Micron Technology (MU) +256.3%, STMicroelectronics (STM) +10.5%, On Semiconductor (ON) -3.1%.

Which company is more profitable?

Micron Technology (MU) has the highest net margin (Micron Technology (MU) 63.8%, STMicroelectronics (STM) 3.6%, On Semiconductor (ON) 10.2%). On return on invested capital, Micron Technology (MU) leads (Micron Technology (MU) 67.7%, STMicroelectronics (STM) 3.9%, On Semiconductor (ON) 5.4%).

Which stock has performed better?

Over the past year Micron Technology (MU) returned the most: Micron Technology (MU) +343.1%, STMicroelectronics (STM) +92.5%, On Semiconductor (ON) +46.0%. Over five years, Micron Technology (MU) compounded fastest (Micron Technology (MU) +70.1%/yr, STMicroelectronics (STM) +0.4%/yr, On Semiconductor (ON) +9.5%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

STMicroelectronics (STM) has the highest dividend yield: Micron Technology (MU) 0.06%, STMicroelectronics (STM) 0.74%. On Semiconductor (ON) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, STMicroelectronics (STM) has been the steadiest (Micron Technology (MU) 80.8%, STMicroelectronics (STM) 60.2%, On Semiconductor (ON) 63.2%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, MU, STM and ON?

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.