Yes, a 1/4" is a 1/4"!!!!
However, that being said ... using a 1/4" foot is not a magic wand to get 1/4" seams!
You need to calibrate your two, doing trial runs as mentioned by NikkiLu.
Example .... with one of my machines, the 1/4" is just that, when I have the needle in the default position. Another machine, I need to move the needle from the default in order to get the 1/4" seam.
So do your tests and know what settings you need to get the same width .... and yes, you can sew on two or ten different machines and get the much sought after 1/4" seams with each machine!