Micron Technology, Inc. vs NVIDIA CORP, two Semiconductors stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
For once Micron out-margins the king: an 84.6% gross margin and 80.4% operating against Nvidia's 74.9% and 65.6%, memory shortage pricing briefly beating accelerator scarcity pricing. Nvidia's supremacy shows up in returns instead, 53.1% on assets against 37.6%, earned at three and a half times the scale, $4.68T against $1.29T. The multiples sit shoulder to shoulder, 29.4 and 25.6 times earnings, which reads as the market believing both sets of margins about equally, one defended by CUDA and an installed ecosystem, the other by a supply discipline memory makers have historically failed to keep. Both are debt-free with similar free-cash yields near 2-2.5%. Two extraordinary income statements, priced ordinarily; the durability question does all the remaining work.
Comparison updated 2026-07-10.
| Metric | MU | NVDA |
|---|---|---|
| Price | $1129.73 | $191.88 |
| Market cap | $1.29T | $4.68T |
| Sector | Semiconductors | Semiconductors |
| Stage | Growth | Mature |
| Implied growth (priced in) | +35.4% | — |
| P/E | 25.6 | 29.4 |
| P/B | 12.84 | 23.94 |
| P/S | 14.33 | 18.46 |
| EV/EBITDA | 18.6 | 28.6 |
| Revenue growth | +161.2% | +69.1% |
| Gross margin | 84.6% | 74.9% |
| Operating margin | 80.4% | 65.6% |
| Net margin | 55.9% | 54.3% |
| Return on equity | 50.1% | 70.4% |
| Return on assets | 37.6% | 53.1% |
| Return on invested capital | 46.2% | 66.1% |
| FCF yield | 2.0% | 2.5% |
| Dividend yield | 0.0% | 0.0% |
| Debt / equity | 0.01 | 0.05 |
| Current ratio | 3.42 | 3.44 |
| Altman Z (solvency) | 8.90 | 9.15 |
| Piotroski F (quality) | 7 / 9 | 4 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.