CSCO vs MU: Cisco Systems and Micron Technology compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Micron Technology is the larger company, worth $1.06T, about 1.9 times Cisco Systems.
- Micron Technology grew revenue faster over the last year (+379.3% vs +17.6%).
- Micron Technology keeps more of each dollar of revenue as operating profit (74.6% vs 24.3%).
- On earnings, Micron Technology is the cheaper stock (44.3x vs 45.8x).
- Cisco Systems's price assumes faster free cash flow growth: about 15% a year, against 4% for Micron Technology (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | CSCO | MU |
|---|---|---|
| Market cap | $542.6B | $1.06T |
| Share price | $118.39 | $1,029.00 |
| Revenue (last fiscal year) | $63.3B | $133.2B |
| Free cash flow (last fiscal year) | $12.8B | $59.0B |
| Revenue growth, last year | +17.6% | +379.3% |
| Revenue growth per year, last 5 fiscal years | +5.3% | +44.3% |
| Operating margin | 24.3% | 74.6% |
| Net margin | 20.9% | 63.8% |
| Return on equity | 26.4% | 61.4% |
| P/E (trailing) | 45.8x | 44.3x |
| Price / free cash flow | 40.8x | 633.7x |
| EV / EBITDA | 23.6x | 9.29x |
| FCF growth the price implies | 14.9% | 3.6% |
| Dividend yield | 1.2% | 0.05% |
| Debt / equity | 1.58x | 0.42x |
| Fundamental grade | B | A |
| Superinvestors holding it | 15 | 15 |
| Insider purchases, last 12 months | 10 | 10 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Cisco Systems
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $51.6B | $12.7B | 27.1% |
| 2023 | $57.0B | $19.0B | 26.4% |
| 2024 | $53.8B | $10.2B | 22.6% |
| 2025 | $56.7B | $13.3B | 20.8% |
| 2026 | $63.3B | $12.8B | 24.3% |
Micron Technology
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $30.8B | $3.1B | 31.5% |
| 2023 | $15.5B | -$6.1B | -37.0% |
| 2024 | $25.1B | $121M | 5.2% |
| 2025 | $37.4B | $1.7B | 26.1% |
| 2026 | $133.2B | $59.0B | 74.6% |
Where the revenue comes from
Cisco Systems · by segments, 2026
Americas$37.8B60%
EMEA$16.6B26%
APJC$8.9B14%
Micron Technology · by segments, 2025
CMBU$13.5B36%
MCBU$11.9B32%
CDBU$7.2B19%
AEBU$4.8B13%
All other$13M0%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open CSCO in InvestinglyQuestions
Which is bigger, Cisco Systems or Micron Technology?
Micron Technology (MU), at $1.06T against $542.6B.
Is CSCO or MU cheaper?
By trailing P/E, Micron Technology (44.3x) is cheaper than Cisco Systems (45.8x). A lower multiple can also mean the market expects less growth.
Which grows faster, CSCO or MU?
Micron Technology: revenue grew +379.3% over the last year, against +17.6%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.