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Side-by-side financial comparison of Micron Technology (MU) and United Parcel Service (UPS). Click either name above to swap in a different company.
Micron Technology is the larger business by last-quarter revenue ($23.9B vs $21.2B, roughly 1.1× United Parcel Service). Micron Technology runs the higher net margin — 57.8% vs 4.1%, a 53.7% gap on every dollar of revenue. On growth, Micron Technology posted the faster year-over-year revenue change (196.3% vs -1.6%). Micron Technology produced more free cash flow last quarter ($5.5B vs $1.3B). Over the past eight quarters, Micron Technology's revenue compounded faster (87.2% CAGR vs -1.4%).
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.
United Parcel Service, Inc. (UPS) is an American multinational shipping & receiving and supply chain management company founded in 1907. Originally known as the American Messenger Company specializing in telegraphs, UPS has expanded to become a Fortune 500 company and one of the world's largest shipping couriers. UPS today is primarily known for its ground shipping services as well as the UPS Store, a retail chain which assists UPS shipments and provides tools for small businesses.
MU vs UPS — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $23.9B | $21.2B |
| Net Profit | $13.8B | $864.0M |
| Gross Margin | 74.4% | — |
| Operating Margin | 67.6% | — |
| Net Margin | 57.8% | 4.1% |
| Revenue YoY | 196.3% | -1.6% |
| Net Profit YoY | 770.8% | -27.2% |
| EPS (diluted) | $12.07 | $1.02 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $23.9B | $21.2B | ||
| Q4 25 | $13.6B | $24.5B | ||
| Q3 25 | $11.3B | $21.4B | ||
| Q2 25 | $9.3B | $21.2B | ||
| Q1 25 | $8.1B | $21.5B | ||
| Q4 24 | $8.7B | $25.3B | ||
| Q3 24 | $7.8B | $22.2B | ||
| Q2 24 | $6.8B | $21.8B |
| Q1 26 | $13.8B | $864.0M | ||
| Q4 25 | $5.2B | $1.8B | ||
| Q3 25 | $3.2B | $1.3B | ||
| Q2 25 | $1.9B | $1.3B | ||
| Q1 25 | $1.6B | $1.2B | ||
| Q4 24 | $1.9B | $1.7B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | $332.0M | $1.4B |
| Q1 26 | 74.4% | — | ||
| Q4 25 | 56.0% | — | ||
| Q3 25 | 44.7% | — | ||
| Q2 25 | 37.7% | — | ||
| Q1 25 | 36.8% | — | ||
| Q4 24 | 38.4% | — | ||
| Q3 24 | 35.3% | — | ||
| Q2 24 | 26.9% | — |
| Q1 26 | 67.6% | — | ||
| Q4 25 | 45.0% | 10.5% | ||
| Q3 25 | 32.3% | 8.4% | ||
| Q2 25 | 23.3% | 8.6% | ||
| Q1 25 | 22.0% | 7.7% | ||
| Q4 24 | 25.0% | 11.6% | ||
| Q3 24 | — | 8.9% | ||
| Q2 24 | 10.6% | 8.9% |
| Q1 26 | 57.8% | 4.1% | ||
| Q4 25 | 38.4% | 7.3% | ||
| Q3 25 | 28.3% | 6.1% | ||
| Q2 25 | 20.3% | 6.0% | ||
| Q1 25 | 19.7% | 5.5% | ||
| Q4 24 | 21.5% | 6.8% | ||
| Q3 24 | — | 6.9% | ||
| Q2 24 | 4.9% | 6.5% |
| Q1 26 | $12.07 | $1.02 | ||
| Q4 25 | $4.60 | $2.10 | ||
| Q3 25 | $2.83 | $1.55 | ||
| Q2 25 | $1.68 | $1.51 | ||
| Q1 25 | $1.41 | $1.40 | ||
| Q4 24 | $1.67 | $2.00 | ||
| Q3 24 | — | $1.80 | ||
| Q2 24 | $0.30 | $1.65 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $13.9B | $5.8B |
| Total DebtLower is stronger | $9.6B | $23.7B |
| Stockholders' EquityBook value | $72.5B | — |
| Total Assets | $101.5B | $71.8B |
| Debt / EquityLower = less leverage | 0.13× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $13.9B | $5.8B | ||
| Q4 25 | $9.7B | $5.9B | ||
| Q3 25 | $9.6B | $6.8B | ||
| Q2 25 | $10.2B | $6.3B | ||
| Q1 25 | $7.6B | $5.1B | ||
| Q4 24 | $6.7B | $6.3B | ||
| Q3 24 | $7.0B | $6.1B | ||
| Q2 24 | $7.6B | $6.5B |
| Q1 26 | $9.6B | $23.7B | ||
| Q4 25 | $11.2B | $23.5B | ||
| Q3 25 | $14.0B | $23.9B | ||
| Q2 25 | $15.0B | $23.8B | ||
| Q1 25 | $13.9B | $19.5B | ||
| Q4 24 | $13.3B | $19.4B | ||
| Q3 24 | $13.0B | $20.3B | ||
| Q2 24 | $12.9B | $20.2B |
| Q1 26 | $72.5B | — | ||
| Q4 25 | $58.8B | $16.2B | ||
| Q3 25 | $54.2B | $15.8B | ||
| Q2 25 | $50.7B | $15.8B | ||
| Q1 25 | $48.6B | $15.7B | ||
| Q4 24 | $46.8B | $16.7B | ||
| Q3 24 | $45.1B | $16.9B | ||
| Q2 24 | $44.2B | $17.0B |
| Q1 26 | $101.5B | $71.8B | ||
| Q4 25 | $86.0B | $73.1B | ||
| Q3 25 | $82.8B | $71.4B | ||
| Q2 25 | $78.4B | $70.9B | ||
| Q1 25 | $73.1B | $68.5B | ||
| Q4 24 | $71.5B | $70.1B | ||
| Q3 24 | $69.4B | $68.3B | ||
| Q2 24 | $66.3B | $69.4B |
| Q1 26 | 0.13× | — | ||
| Q4 25 | 0.19× | 1.45× | ||
| Q3 25 | 0.26× | 1.51× | ||
| Q2 25 | 0.30× | 1.51× | ||
| Q1 25 | 0.28× | 1.25× | ||
| Q4 24 | 0.28× | 1.16× | ||
| Q3 24 | 0.29× | 1.21× | ||
| Q2 24 | 0.29× | 1.19× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $11.9B | — |
| Free Cash FlowOCF − Capex | $5.5B | $1.3B |
| FCF MarginFCF / Revenue | 23.1% | 6.0% |
| Capex IntensityCapex / Revenue | 26.8% | 4.9% |
| Cash ConversionOCF / Net Profit | 0.86× | — |
| TTM Free Cash FlowTrailing 4 quarters | $11.9B | $4.6B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $11.9B | — | ||
| Q4 25 | $8.4B | $3.3B | ||
| Q3 25 | $17.5B | $2.5B | ||
| Q2 25 | $4.6B | $348.0M | ||
| Q1 25 | $3.9B | $2.3B | ||
| Q4 24 | $3.2B | $3.3B | ||
| Q3 24 | $8.5B | $1.5B | ||
| Q2 24 | $2.5B | $2.0B |
| Q1 26 | $5.5B | $1.3B | ||
| Q4 25 | $3.0B | $2.6B | ||
| Q3 25 | $1.7B | $1.5B | ||
| Q2 25 | $1.7B | $-775.0M | ||
| Q1 25 | $-113.0M | $1.4B | ||
| Q4 24 | $38.0M | $2.2B | ||
| Q3 24 | $121.0M | $655.0M | ||
| Q2 24 | $396.0M | $1.1B |
| Q1 26 | 23.1% | 6.0% | ||
| Q4 25 | 22.2% | 10.6% | ||
| Q3 25 | 14.7% | 7.1% | ||
| Q2 25 | 18.0% | -3.7% | ||
| Q1 25 | -1.4% | 6.7% | ||
| Q4 24 | 0.4% | 8.8% | ||
| Q3 24 | 1.6% | 2.9% | ||
| Q2 24 | 5.8% | 4.9% |
| Q1 26 | 26.8% | 4.9% | ||
| Q4 25 | 39.5% | 2.9% | ||
| Q3 25 | 140.1% | 4.5% | ||
| Q2 25 | 31.6% | 5.3% | ||
| Q1 25 | 50.4% | 4.1% | ||
| Q4 24 | 36.8% | 4.3% | ||
| Q3 24 | 108.2% | 3.8% | ||
| Q2 24 | 30.6% | 4.3% |
| Q1 26 | 0.86× | — | ||
| Q4 25 | 1.61× | 1.84× | ||
| Q3 25 | 5.47× | 1.89× | ||
| Q2 25 | 2.45× | 0.27× | ||
| Q1 25 | 2.49× | 1.95× | ||
| Q4 24 | 1.73× | 1.93× | ||
| Q3 24 | — | 0.97× | ||
| Q2 24 | 7.48× | 1.41× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MU
| CMBU | $7.7B | 32% |
| MCBU | $7.7B | 32% |
| CDBU | $5.7B | 24% |
| AEBU | $2.7B | 11% |
| Other Product Sales | $95.0M | 0% |
UPS
| U.S. Domestic Package | $14.1B | 67% |
| International Package | $4.5B | 21% |
| Supply Chain Solutions | $2.5B | 12% |
