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Side-by-side financial comparison of Micron Technology (MU) and TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD (TSM), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD is the larger business by last-quarter revenue ($88.3B vs $13.6B, roughly 6.5× Micron Technology). TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD runs the higher net margin — 38.4% vs 40.0%, a 1.6% gap on every dollar of revenue. On growth, Micron Technology posted the faster year-over-year revenue change (56.7% vs 25.0%). TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD produced more free cash flow last quarter ($26.5B vs $3.0B).
Micron Technology, Inc. is an American producer of computer memory and computer data storage including dynamic random-access memory, flash memory, and solid-state drives (SSDs). It is headquartered in Boise, Idaho.
Taiwan Semiconductor Manufacturing Company (TSMC) is the world's largest dedicated independent semiconductor foundry, headquartered in Hsinchu, Taiwan. It manufactures advanced logic chips on contract for fabless customers including Apple, NVIDIA, AMD, Qualcomm, and Broadcom, and leads the industry in leading-edge process nodes (3nm/5nm/7nm).
MU vs TSM — Head-to-Head
Income Statement — Q1 2026 vs Q4 2024
| Metric | | |
|---|---|---|
| Revenue | $13.6B | $88.3B |
| Net Profit | $5.2B | $35.3B |
| Gross Margin | 56.0% | 56.1% |
| Operating Margin | 45.0% | 45.7% |
| Net Margin | 38.4% | 40.0% |
| Revenue YoY | 56.7% | 25.0% |
| Net Profit YoY | 180.2% | 27.0% |
| EPS (diluted) | $4.60 | $1.36 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $9.7B | $64.9B |
| Total DebtLower is stronger | $11.2B | — |
| Stockholders' EquityBook value | $58.8B | $130.5B |
| Total Assets | $86.0B | $204.1B |
| Debt / EquityLower = less leverage | 0.19× | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $9.7B | — | ||
| Q4 24 | — | $64.9B |
| Q4 25 | $11.2B | — | ||
| Q4 24 | — | — |
| Q4 25 | $58.8B | — | ||
| Q4 24 | — | $130.5B |
| Q4 25 | $86.0B | — | ||
| Q4 24 | — | $204.1B |
| Q4 25 | 0.19× | — | ||
| Q4 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $8.4B | $55.7B |
| Free Cash FlowOCF − Capex | $3.0B | $26.5B |
| FCF MarginFCF / Revenue | 22.2% | 30.1% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | 39.5% | 33.0% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | 1.61× | 1.58× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $8.4B | — | ||
| Q4 24 | — | $55.7B |
| Q4 25 | $3.0B | — | ||
| Q4 24 | — | $26.5B |
| Q4 25 | 22.2% | — | ||
| Q4 24 | — | 30.1% |
| Q4 25 | 39.5% | — | ||
| Q4 24 | — | 33.0% |
| Q4 25 | 1.61× | — | ||
| Q4 24 | — | 1.58× |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
MU
| CDBU | $5.7B | 42% |
| NAND Products | $5.0B | 37% |
| AEBU | $2.7B | 20% |
| Other Product Sales | $95.0M | 1% |
TSM
Segment breakdown not available.
