Among the four semiconductor companies analyzed, Samsung Electronics exhibits the largest modeled fair value upside at 50.1%, placing it ahead of Kioxia Holdings ADR, SK hynix and Micron Technology in this valuation comparison.
The table of headline figures is as follows (all prices and fair values are as of Sep 11, 2026):
- Samsung Electronics (005930) - Price: $193.38; Modeled fair value: $290.28; Modeled upside: 50.1%.
- Kioxia Holdings ADR (KXIAY) - Price: $34.99; Modeled fair value: $47.41; Modeled upside: 35.5%.
- SK hynix (000660) - Price: $1,350.31; Modeled fair value: $1,684.63; Modeled upside: 24.8%.
- Micron Technology (MU) - Price: $976.75; Modeled fair value: $1,151.30; Modeled upside: 18.1%.
Timing stamps for the quoted prices and fair values: Samsung and SK hynix prices are stamped 2:29 AM EDT to reflect closed local markets; Kioxia is as of 9:45 AM EDT; Micron is as of 10:00 AM EDT.
Why Samsung sits on top
Samsung's placement as the highest upside case stems from a relatively restrained market multiple combined with recent revenue acceleration and healthy free cash flow metrics. Key figures for Samsung include a trailing price-to-earnings ratio of 11.0x, revenue growth of 57.3% as of Jun 30, 2026, and a free cash flow yield of 8.8% as of Jun 30, 2026. The firm’s diversified electronics franchise means its exposure to memory cycles is balanced by other business lines - a factor that contributes to the modeled margin of safety.
Kioxia: significant upside but higher execution and listing risks
Kioxia's modeled upside is 35.5%. The company posted revenue growth of 132.1%, but the market assigns a higher multiple, with a trailing P/E of 21.2x. The higher multiple indicates that some growth expectations are already reflected in the price, and the company’s OTC listing introduces additional liquidity and execution considerations.
SK hynix: cheap headline valuation, cyclical caveats
After Samsung, SK hynix presents a compelling valuation-growth mix. Revenue growth stood at 145.0% while the trailing P/E was 8.0x. The firm reported an extraordinary return on equity of 353.8%, a figure the analysis notes likely reflects unusually strong cyclical profitability and balance-sheet effects that should not be extrapolated mechanically.
Micron: strong revenue momentum, less valuation cushion
Micron recorded the highest reported revenue growth among the four at 167.0% and posted a reported return on equity of 66.6%. Despite that operating momentum, Micron’s trailing P/E of 21.9x leaves the company with the smallest modeled upside at 18.1%, suggesting markets have already priced more of Micron’s recovery into its valuation.
Practical takeaways
- For the largest modeled fair value upside: Samsung Electronics.
- For a more aggressive, cycle-dependent upside case: Kioxia Holdings ADR.
- For a combination of low headline valuation and strong earnings momentum: SK hynix.
- For the firm with the strongest operating momentum but the smallest modeled valuation cushion: Micron Technology.
Caveat - These fair values derive from a modeled estimate and are not guaranteed outcomes. Memory stocks remain highly cyclical; changes in pricing, inventory dynamics, demand from AI-server deployments and capital spending can quickly alter relative positioning and valuation assumptions.
Prices and fair values are as of Sep 11, 2026. Samsung and SK hynix prices are stamped 2:29 AM EDT, reflecting their closed local markets. Kioxia is as of 9:45 AM EDT; Micron is as of 10:00 AM EDT.
Note: historical data coverage for related datasets is limited to a 10-year window on the referenced service plan.