MU vs ON
Micron Technology (MU) and ON Semiconductor (ON) compared side by side. Micron Technology (MU) is larger, with a market cap of $992.9B versus $28.1B for ON Semiconductor, about 35.3 times the size. On trailing earnings, MU is cheaper at 11.8x versus 46.6x for ON.
Head to head
| Metric | MU | ON |
|---|---|---|
| Market cap | $992.9B | $28.1B |
| P/E (TTM) | 11.8x | 46.6x |
| Forward P/E | 4.2x | 15.8x |
| Revenue (TTM) | $133.2B | $6.2B |
| Revenue growth | 379.3% | 9.2% |
| Gross margin | 80.7% | 42.8% |
| Operating margin | 80.7% | 19.5% |
| Free cash flow | $59.0B | $1.5B |
| Dividend yield | 0.07% | None |
| 1-year return | +325.0% | +39.5% |
| 5-year return (annual) | +67.8% | +9.5% |
| Max drawdown | -98% | -96% |
| FI Handbook grade | B+ | B- |
Highlighted: the stronger figure on metrics where higher or lower is clearly better.
Growth of $10,000 (5 years, price only)
MU vs ON FAQ
Which is bigger, MU or ON?
Micron Technology (MU) is larger, with a market cap of $992.9B versus $28.1B for ON Semiconductor, about 35.3 times the size.
Is MU or ON cheaper?
On trailing earnings, MU is cheaper at 11.8x versus 46.6x for ON. A lower P/E can reflect slower expected growth, so compare growth and margins too.
Which stock performed better over the past year, MU or ON?
MU returned +325.0% over the past year including dividends, versus +39.5% for ON, through October 23, 2026.
Which pays a higher dividend, MU or ON?
MU yields 0.07%; ON does not pay a dividend.
Full pages: Micron Technology · ON Semiconductor