Micron Technology vs Qualcomm
Micron Technology reported revenue of $133.2 billion in fiscal 2026, 3.0 times Qualcomm's $44.3 billion in fiscal 2025. Micron Technology's revenue grew 256.3% in its latest year, and Qualcomm's grew 13.7%. Micron Technology had an operating margin of 74.6%, against 27.9% at Qualcomm. Free cash flow was $59.0 billion at Micron Technology and $12.8 billion at Qualcomm. Their fiscal years end in different months (September 3 and September 28), so the periods don't line up exactly.
Side by side
| Micron Technology | Qualcomm | |
|---|---|---|
| Latest fiscal year | FY2026, Sep 3, 2026 | FY2025, Sep 28, 2025 |
| Revenue | $133.2B | $44.3B |
| Revenue growth | 256.3% | 13.7% |
| Revenue growth a year, last 5 years | 36.9% | 13.5% |
| Gross margin | 80.7% | 55.4% |
| Operating margin | 74.6% | 27.9% |
| Net margin | 63.8% | 12.5% |
| Free cash flow | $59.0B | $12.8B |
| Free cash flow margin | 44.3% | 28.9% |
| Return on capital | 106.8% | 23.7% |
| Net debt to EBITDA | −0.3x | 0.3x |
| Dividends and buybacks | $1.3B | $12.6B |
| Change in diluted share count | 1.6% | −2.2% |
| Last close | $903.70 | $179.60 |
| P/E at the last close | 12.2× | 20.5× |
| Insider trades, last 12 months | bought $7.8 million, sold $398.3 million | sold $21.6 million |
| Piotroski F-score | 8 of 9 | 6 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Micron TechnologyQualcomm
Operating margin
Percent of revenue
Micron TechnologyQualcomm
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Micron TechnologyQualcomm
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Micron Technology and Qualcomm pages.