— Know what they know.
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Not Investment Advice

MU

NASDAQ · USD
Micron Technology, Inc.
Technology · Semiconductors
CEO Sanjay Mehrotra Employees 61,000 R&D / revenue 4.2%
Last price
$878.84−5.63%last session
Market cap
$994.3B
P/E (TTM)
11.7x
From 52w high
−30.0%
From 52w low
+356.8%
1-year return
+333.9%
RSI 14 · vs SMA200
34.0 · +22.4%
IS score
88.9/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

MU   SPY   XLK (sector ETF) · weekly closes
100150200250300350400450500550600Jan 26Apr 26Jul 26Oct 26MU 434XLK 129SPY 116

Score DNA

Each bar is a 0-100 score within the scored universe
100
Profitability
86
Growth
71
Value
94
Momentum
100
Risk (safety)
94
Quality
98
Balance sheet
63
Earnings quality

Flags

Strengths
✓ Piotroski 8+✓ Net cash✓ FCF yield 5%+✓ Congress buying
Warnings
▲ Beneish M above -1.78▲ Share count rising
Observations
Moat model: Weak, Efficient ScalePiotroski 8 / 9Altman Z 15.2Beta 2.223 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
258 open-market sales, $253.6M
Form 144 notices (12m): 29, $372.7M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
11
Last disclosed purchase 2026-07-10
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+900
1,046 new holders, 118 closed
3,922 filers hold 78.4% · 1,269 added, 1,453 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+115
2,284 funds adding shares
2,169 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
30.3%
20-day avg 39.3%, 50-day avg 43.1%
Latest 9.0 pp under its 20-day average · a flow, not short interest

Key financials · FY2026

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$133.2B
Revenue growth YoY+256.3%
Gross margin80.7%
Operating income$99.9B
Operating margin75.0%
Net income$85.0B
Net margin63.8%
EPS (diluted)$74.33
Cash flow
Operating cash flow$89.7B
Capital expenditure$30.7B
Free cash flow$59.0B
FCF conversion (FCF / OCF)65.8%
Stock-based compensation$1.3B
FCF less SBC$57.6B
Buybacks$1.8B
Dividends$610.0M
Balance sheet & returns
Cash & short-term investments$43.4B
Total debt$2.8B
Net cash$40.6B
Shareholders' equity$138.4B
Goodwill & intangibles$1.1B
Debt / equity0.04
ROE (TTM)91.8%
ROIC (TTM)50.4%
Operating margin by fiscal year
31.5%FY2022-37.0%FY20235.2%FY202426.4%FY202575.0%FY2026
Revenue $30.8B (FY2022) to $133.2B (FY2026), a 44.3% CAGR.

Valuation

P/E (TTM)11.7x
EV / EBITDA8.8x
Price / sales7.47x
Price / FCF18.8x
FCF yield5.32%
Buyback yield0.18%
SBC / revenue1.0%
Price / book7.18x
Forward P/E FY20275.5x
Forward multiples divide today's price by Street EPS estimates. Street mean target $1,568.33 across 12 analysts last quarter is theirs, not ours.

MU vs industry median

196 companies in Semiconductors
Gross margin 80.7% 45.0% Operating margin 75.0% 5.8% Net margin 63.8% 5.7% ROIC 50.4% 6.2%
MU (TTM)Industry median Asset turnover 0.68 vs industry 0.52 · financial leverage 1.42

Earnings delivery

Next report 2026-12-23 · consensus EPS $38.20
100%
beat rate, 12 of 12 quarters
+14.2%
median EPS surprise
12
longest beat streak
+4+266+29+5+2+9+19+6+21+33+20+5
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-12-20 to 2026-09-30. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
MU Micron Technology, Inc. $994.3B11.7x91.8%63.8%+256.3% +333.9%
AMD Advanced Micro Devices, Inc. $863.2B134.2x10.1%19.9%+39.5% +125.4%
AVGO Broadcom Inc. $1.57T40.8x44.2%44.2%+48.7% −7.2%
INTC Intel Corp. $475.0Bn/m-12.2%-68.4%+7.5% +143.9%
LRCX Lam Research Corporation $330.3B45.6x65.1%33.9%+26.0% +85.7%
AMAT Applied Materials, Inc. $324.8B35.1x41.1%27.8%+7.8% —
TXN Texas Instruments Incorporat $252.5B41.8x35.2%36.2%+16.7% —
ARM Arm Holdings plc American De $243.3B234.8x13.4%20.9%+25.1% —
12-month window: SPY +15.9%, sector ETF XLK +29.0%. Past returns describe history only.

Recent 8-K filings

2026-09-30Earnings Release; Exhibits
2026-08-26Officer/Director Change; Exhibits
2026-06-24Earnings Release; Exhibits
2026-06-09Officer/Director Change; Exhibits
2026-04-01Other Events; Exhibits
2026-03-25Other Events; Exhibits

Context

Shares outstanding1,131,420,000
Free float99.7%
Institutional ownership78.4%
Beta2.22
Dividend yield0.06%
Last dividend$0.15 on 2026-10-14
50 / 200-day average$983.17 / $714.91
Mega-cap Technology median P/E33.1x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Weak).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where MU sits among 76 scored companies in Semiconductors (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureMUIndustry medianIndustry percentileSector median
P/E (TTM) 11.7x 45.9x
2nd		 32.0x
PEG (P/E ÷ 3-yr EPS CAGR) —
Price / sales 7.5x 8.1x
48th		 3.9x
Price / book 7.2x 5.5x
65th		 4.4x
Price / tangible book 8.0x 10.3x
43rd		 8.8x
Price / free cash flow 18.8x 57.4x
9th		 20.3x
Price / operating cash flow 11.1x 38.7x
5th		 17.9x
Enterprise value $956.1B $6.8B
97th		 $5.5B
EV / sales 7.2x 8.4x
47th		 4.1x
EV / EBITDA 8.7x 28.1x
7th		 18.9x
EV / EBIT 9.6x 38.4x
8th		 26.7x
EV / free cash flow 18.1x 57.4x
6th		 21.9x
Earnings yield 8.5% 1.2%
99th		 2.0%
FCF yield 5.3% 1.4%
93rd		 3.3%
Operating cash flow yield 9.0% 2.0%
96th		 4.4%
Graham number (per share) $448.43 $34.80
100th		 $28.08

Profitability (TTM)

MeasureMUIndustry medianIndustry percentileSector median
Gross margin 80.7% 48.5%
96th		 55.7%
EBITDA margin 82.1% 18.7%
100th		 13.7%
Operating margin 75.0% 10.1%
100th		 8.2%
EBIT margin 75.0% 12.1%
99th		 8.6%
Net margin 63.8% 9.4%
100th		 5.7%
NOPAT margin 63.9% 9.3%
100th		 7.0%
FCF margin 39.7% 12.0%
96th		 15.0%
Operating cash flow margin 67.3% 18.3%
100th		 18.4%
R&D / revenue 4.2% 17.5%
8th		 12.9%
SG&A / revenue 1.5% 14.9%
1st		 25.6%
Stock comp / revenue 1.0% 3.9%
14th		 4.4%
Effective tax rate 14.8% 17.4%
36th		 21.0%

Returns on capital

MeasureMUIndustry medianIndustry percentileSector median
ROE (on average equity) 88.3% 6.8%
99th		 9.4%
ROA 61.0% 4.2%
99th		 4.1%
ROIC 85.0% 7.9%
97th		 9.0%
ROCE 59.3% 6.6%
99th		 8.6%
Return on tangible assets 71.7% 5.7%
99th		 5.9%
Cash ROIC (OCF / invested capital) 89.6% 14.1%
100th		 20.7%
Gross profitability (GP / assets) 54.9% 21.5%
99th		 30.0%
ROIC, 3-yr average 40.1% 6.8%
91st		 7.4%
ROIC, 5-yr average 23.3% 16.5%
68th		 7.9%
ROE, 5-yr average 16.6% 10.9%
66th		 6.9%
Incremental ROIC 105.0% 13.4%
83rd		 15.3%

Growth

MeasureMUIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 256.3% 17.8%
99th		 14.3%
Revenue growth (QoQ) 30.8% 13.2%
85th		 6.6%
Revenue CAGR, 3 yr 104.6% 3.5%
97th		 9.6%
Revenue CAGR, 5 yr 36.9% 6.5%
91st		 11.5%
Gross profit CAGR, 3 yr —
Operating income CAGR, 3 yr —
Net income growth (TTM YoY) 895.1% 35.4%
98th		 21.6%
Net income CAGR, 3 yr —
EPS growth (TTM YoY) 876.0% 37.4%
98th		 22.3%
EPS CAGR, 3 yr —
EPS CAGR, 5 yr 70.4% 7.5%
98th		 12.0%
FCF growth (TTM YoY) 492.5% 31.5%
96th		 24.6%
FCF CAGR, 3 yr —
Operating cash flow CAGR, 3 yr 286.0% 4.1%
100th		 17.9%
Book value CAGR, 3 yr 44.1% 7.2%
91st		 6.8%
Dividend CAGR, 3 yr 3.7% 1.9%
59th		 3.1%
Sustainable growth rate 87.6% 10.7%
98th		 14.2%

Margin history & stability

MeasureMUIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 47.6% 47.6%
51st		 53.2%
Operating margin, 3-yr average 35.5% 8.0%
93rd		 6.6%
Net margin, 3-yr average 29.9% 7.9%
92nd		 5.2%
FCF margin, 3-yr average 21.4% 11.5%
73rd		 12.7%
Revenue stability (0-1) 0.46 0.58
39th		 0.87
Earnings stability (0-1) 0.41 0.36
57th		 0.45
Margin stability (0-1) 0.05 0.93
6th		 0.95

Liquidity (latest quarter)

MeasureMUIndustry medianIndustry percentileSector median
Cash & short-term investments $43.4B $667.9M
99th		 $494.1M
Net cash (− = net debt) $38.3B $201.8M
99th		 $49.8M
Working capital $63.6B $953.3M
99th		 $391.0M
Current ratio 3.31 3.45
47th		 1.92
Quick ratio 2.94 2.56
57th		 1.67
Cash ratio (cash + ST investments / current liabilities) 1.58 1.60
49th		 0.95
Defensive interval (days) 3,826 days 778 days
96th		 521 days

Leverage & solvency (latest quarter)

MeasureMUIndustry medianIndustry percentileSector median
Total debt $5.2B $307.1M
84th		 $349.3M
Debt / equity 0.04 0.17
27th		 0.29
Net debt / equity −0.28 −0.19
41st		 −0.13
Debt / assets 2.6% 11.2%
23rd		 16.9%
Debt / capital 3.6% 14.8%
27th		 22.3%
Debt / EBITDA 0.05 1.14
11th		 1.78
Net debt / EBITDA −0.35 −0.82
57th		 −0.18
Interest coverage (EBIT / interest) 942.5x 12.4x
96th		 5.8x
Cash interest coverage 846.0x 15.4x
94th		 12.8x
Debt payback (years of OCF) 0.1 yrs 1.2 yrs
12th		 1.6 yrs
Liabilities / assets 29.4% 30.8%
45th		 48.7%
IS credit model rating AA+ — —
Implied credit spread (bps) 65 125
0th		 175

Efficiency

MeasureMUIndustry medianIndustry percentileSector median
Asset turnover 0.96 0.52
93rd		 0.62
Fixed asset turnover 2.10 4.69
20th		 9.25
Inventory turnover 2.7 2.7
56th		 3.8
Receivables turnover 6.8 6.3
60th		 6.2
Days sales outstanding 53 days 58 days
40th		 59 days
Days inventory outstanding 133 days 137 days
44th		 94 days
Days payables outstanding 47 days 50 days
43rd		 46 days
Cash conversion cycle (days) 139 days 129 days
56th		 50 days
Capex / revenue 27.6% 4.5%
97th		 2.3%
Capex / depreciation 3.87 0.94
92nd		 0.56
Operating expense ratio 5.0% 32.6%
0th		 44.3%

Cash flow & earnings quality

MeasureMUIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.06 1.34
38th		 1.61
FCF / net income 0.62 0.88
19th		 1.33
FCF / operating cash flow 59.0% 75.0%
26th		 88.0%
Capex / operating cash flow 41.0% 25.0%
74th		 12.0%
Accruals ratio -3.4% -4.4%
55th		 -6.3%
Sloan accruals ratio 26.3% 2.2%
80th		 -1.8%
Earnings quality score (0-1) 1.00 0.75
77th		 0.75

Dividends & buybacks

MeasureMUIndustry medianIndustry percentileSector median
Dividend yield 0.1% 0.0%
65th		 0.0%
Dividend per share (TTM) $0.56 $0.00
79th		 $0.00
Payout ratio (dividends / net income) 0.7% 5.0%
46th		 0.0%
Dividends / FCF 1.2% 0.0%
54th		 0.0%
Dividend growth (YoY) 14.6% 3.6%
78th		 4.1%
Buyback yield 0.1% 0.1%
52nd		 1.2%
Shareholder yield (dividends + buybacks) 0.2% 0.3%
45th		 1.7%
Share count change (YoY) 2.0% 1.6%
55th		 0.1%
Buybacks, last 5 years $2.6B $67.3M
81st		 $215.3M

Scores & forensic checks

MeasureMUIndustry medianIndustry percentileSector median
IS score 89 59
100th		 56
IS profitability 100 43
96th		 40
IS growth 86 69
92nd		 65
IS value 71 36
97th		 39
IS momentum 94 79
79th		 78
IS risk (safety) 100 100
12th		 100
IS quality 94 70
100th		 67
IS balance sheet 98 84
100th		 72
IS earnings quality 63 65
45th		 61
IS cash flow 87 58
91st		 66
Piotroski F-score (0-9) 8 6
91st		 6
Altman Z-score 15.2 12.3
61st		 4.0
Beneish M-score 1.29 −2.45
97th		 −2.58
Ohlson O-score −14.88 −9.33
3rd		 −8.00
IS credit score 91 78
83rd		 69

Per share

MeasureMUIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $74.08 $1.49
100th		 $0.84
Book value per share $120.64 $17.90
99th		 $9.77
Tangible book per share $121.44 $11.01
97th		 $3.22
Revenue per share $116.12 $13.47
99th		 $13.00
FCF per share $46.13 $1.50
100th		 $1.78
Operating cash flow per share $78.18 $2.35
100th		 $2.40
Cash per share $37.87 $6.31
97th		 $4.50

Size (TTM)

MeasureMUIndustry medianIndustry percentileSector median
Market cap $994.3B $6.8B
97th		 $4.7B
Revenue $133.2B $1.1B
99th		 $1.2B
EBITDA $109.4B $207.9M
99th		 $185.8M
Net income $85.0B $119.3M
99th		 $84.9M
Free cash flow $52.9B $114.6M
99th		 $170.6M
Total assets $195.9B $2.3B
97th		 $2.4B
Shareholders' equity $138.4B $1.4B
99th		 $1.1B
Employees 61,000 2,286
97th		 3,000

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-10-15Allen Scott R.
CVP, Chief Accounting Officer
 Tax withholding 583$914.13$532,93830,005
2026-10-15Allen Scott R.
CVP, Chief Accounting Officer
 Tax withholding 218$914.13$199,28029,787
2026-10-14Ray Michael Charles
SVP, Chief Legal Officer
 Open-market sale 40$947.29$37,89256,248
2026-10-14Ray Michael Charles
SVP, Chief Legal Officer
 Open-market sale 488$914.13$446,09562,088
2026-10-14Ray Michael Charles
SVP, Chief Legal Officer
 Open-market sale 120$915.50$109,86061,968
2026-10-14Ray Michael Charles
SVP, Chief Legal Officer
 Open-market sale 80$916.38$73,31061,888
2026-10-14Ray Michael Charles
SVP, Chief Legal Officer
 Open-market sale 200$917.92$183,58461,688
2026-10-14Ray Michael Charles
SVP, Chief Legal Officer
 Open-market sale 200$919.36$183,87261,488
2026-10-14Ray Michael Charles
SVP, Chief Legal Officer
 Open-market sale 200$920.62$184,12461,288
2026-10-14Ray Michael Charles
SVP, Chief Legal Officer
 Open-market sale 480$921.65$442,39260,808
2026-10-14Ray Michael Charles
SVP, Chief Legal Officer
 Open-market sale 400$922.63$369,05260,408
2026-10-14Ray Michael Charles
SVP, Chief Legal Officer
 Open-market sale 320$923.69$295,58160,088

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunJulAugSepOct

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired38537,457—
GiftDisposed21,713—
Open-market saleDisposed258273,133$253.6M
Option exerciseAcquired15462,747—
Option exerciseDisposed5137,889—
Tax withholdingDisposed40367,955$363.9M
—Disposed10—
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 29 notices · 731,381 shares · $372.7M
FiledFilerShares proposedEst. proceeds
2026-10-15Deboer Scott J28,545$26.1M
2026-10-14Michael Ray6,328$6.0M
2026-08-18Sumit Sadana15,000$14.0M
2026-07-24Mehrotra Sanjay40,000$37.3M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 36 trades (16 purchases) · Senate 7 (3 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-23Ro KhannaHouseSale$1,001 - $15,0002026-10-09
2026-09-02Ro KhannaHouseSale$1,001 - $15,0002026-10-09
2026-09-02Ro KhannaHouseSale$1,001 - $15,0002026-10-09
2026-07-10Dan NewhouseHousePurchase$1,001 - $15,0002026-07-20
2026-06-25Sheldon WhitehouseSenatePurchase$1,001 - $15,0002026-07-08
2026-03-30John FettermanSenatePurchase$1,001 - $15,0002026-04-03
2026-03-30John Karl FettermanSenatePurchase$1,001 - $15,0002026-04-03
2026-01-26John BoozmanSenateSale$1,001 - $15,0002026-02-15
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.104,827,219$121.0B9.27%
VANGUARD CAPITAL MANAGEMENT LLC73,659,544$85.0B6.51%
STATE STREET CORP50,075,870$57.8B4.43%
Invesco Ltd.36,315,240$41.9B3.21%
Capital World Investors29,469,646$34.0B2.60%
GEODE CAPITAL MANAGEMENT, LLC27,705,797$31.9B2.45%
FMR LLC26,718,869$30.8B2.36%
VANGUARD PORTFOLIO MANAGEMENT LLC24,662,080$28.5B2.18%
JPMORGAN CHASE & CO22,975,799$26.3B2.03%
PRIMECAP MANAGEMENT CO/CA/19,217,236$22.2B1.70%
GOLDMAN SACHS GROUP INC18,088,606$20.9B1.60%
NORGES BANK15,180,843$17.5B1.34%
PRICE T ROWE ASSOCIATES INC /MD/14,165,845$16.4B1.25%
MORGAN STANLEY11,993,125$13.8B1.06%
Capital International Investors10,384,128$12.0B0.92%

Institutional ownership by quarter

2023-092026-0678.4%
% of shares held by 13F filers
2023-092026-063,922
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-303,92278.4%1,0461,2691,453118
2026-03-313,02275.8%5161,2551,030149
2025-12-312,70679.5%73191585977
2025-09-302,09977.0%388790663127
2025-06-301,87279.0%310653708148
2025-03-311,73877.8%234739561177
2024-12-311,70977.7%258685566235
2024-09-301,72275.9%199729613254
2024-06-301,80377.4%257726621104
2024-03-311,67779.4%30159359291
2023-12-311,49279.0%27444156288
2023-09-301,32078.5%145454507103

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-05-14SCHEDULE 13G/ACapital World Investors3.7%42,208,309
2026-03-27SCHEDULE 13G/AThe Vanguard Group0.0%0
2026-02-13SCHEDULE 13G/ACapital World Investors5.2%58,472,522
2025-08-13SCHEDULE 13GCapital World Investors6.3%71,003,502
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX1.64%$38.2B
VTI1.64%$38.2B
VSMPX1.64%$38.2B
VTSAX1.64%$38.2B
VFFSX1.83%$31.6B
VOO1.83%$31.6B

Share structure

Shares outstanding1,131,420,000
Float1,127,565,059
Free float99.7%

Income statement

Fiscal years, USD
FY2022FY2023FY2024FY2025FY2026
Revenue$30.8B$15.5B$25.1B$37.4B$133.2B
Cost of revenue$16.9B$17.0B$19.5B$22.5B$25.7B
Gross profit$13.9B−$1.4B$5.6B$14.9B$107.5B
R&D$3.1B$3.1B$3.4B$3.8B$5.7B
SG&A$1.1B$920.0M$1.1B$1.2B$1.9B
Operating income$9.7B−$5.7B$1.3B$9.9B$99.9B
EBITDA$16.7B$2.2B$8.9B$18.5B$109.4B
Pretax income$9.6B−$5.7B$1.2B$9.7B$99.7B
Income tax$888.0M$177.0M$451.0M$1.1B$14.8B
Net income$8.7B−$5.8B$778.0M$8.5B$85.0B
EPS, diluted$7.74$-5.34$0.70$7.59$74.33
Diluted shares1.1B1.1B1.1B1.1B1.1B

Balance sheet

FY2022FY2023FY2024FY2025FY2026
Cash & short-term investments$9.3B$9.6B$8.1B$10.3B$43.4B
Receivables$5.1B$2.4B$6.6B$9.3B$36.2B
Inventory$6.7B$8.4B$8.9B$8.4B$10.4B
Total current assets$21.8B$21.2B$24.4B$28.8B$91.1B
PP&E, net$39.2B$38.6B$40.4B$47.3B$63.3B
Goodwill & intangibles$1.6B$1.6B$1.6B$1.6B$1.1B
Total assets$66.3B$64.3B$69.4B$82.8B$195.9B
Accounts payable$2.1B$1.7B$2.7B$3.1B$3.5B
Total current liabilities$7.5B$4.8B$9.2B$11.5B$27.5B
Long-term debt$6.0B$11.9B$11.2B$14.0B$2.8B
Total liabilities$16.4B$20.1B$24.3B$28.6B$57.5B
Shareholders' equity$49.9B$44.1B$45.1B$54.2B$138.4B

Cash flow statement

Outflows are negative
FY2022FY2023FY2024FY2025FY2026
Net income$8.7B−$5.8B$778.0M$8.5B$85.0B
Depreciation & amortization$7.1B$7.8B$7.8B$8.4B$9.5B
Stock-based compensation$514.0M$596.0M$833.0M$972.0M$1.3B
Change in working capital−$1.3B−$2.9B−$1.2B−$338.0M−$6.1B
Operating cash flow$15.2B$1.6B$8.5B$17.5B$89.7B
Capital expenditure−$12.1B−$7.7B−$8.4B−$15.9B−$30.7B
Free cash flow$3.1B−$6.1B$121.0M$1.7B$59.0B
Investing cash flow−$11.6B−$6.2B−$8.3B−$14.1B−$61.6B
Net debt issued / repaid−$32.0M$6.0B−$898.0M−$189.0M−$10.0B
Buybacks−$2.4B−$425.0M−$300.0M$0−$1.8B
Dividends paid−$461.0M−$504.0M−$513.0M−$522.0M−$610.0M

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2022FY2023FY2024FY2025FY2026
Gross margin45.2%-9.1%22.4%39.8%80.7%
Operating margin31.5%-37.0%5.2%26.4%75.0%
Net margin28.2%-37.5%3.1%22.8%63.8%
FCF margin10.1%-39.4%0.5%23.9%39.7%
ROE18.5%-12.4%1.7%17.2%88.3%
ROIC18.3%-9.4%1.6%14.7%85.0%
ROA13.9%-8.9%1.2%11.2%61.0%
Debt / equity0.150.320.310.280.04
Interest coverage51.5xn/m2.3x20.8x942.5x
Current ratio2.894.462.642.523.31
Revenue growth+11.0%−49.5%+61.6%+48.9%+256.3%
EPS growth+52.5%−167.8%+113.0%+997.6%+876.0%
P/E at year end7.2xn/m137.5x16.1x12.9x
EV / EBITDA at year end3.6x35.9x12.6x7.8x9.7x
FCF yield at year end5.00%-8.07%0.11%6.51%4.81%
Dividend payout5.3%—65.9%6.1%0.7%

Revenue by segment

FY2022FY2023FY2024FY2025FY2026
DRAM Products$22.4B$11.0B—$28.6B$100.7B
CMBU———$13.5B$43.1B
CDBU———$7.2B$37.6B
MCBU———$11.9B$36.6B
NAND Products$7.8B$4.2B—$8.5B$31.8B
AEBU———$4.8B$15.9B
CNBU$13.7B$5.7B$9.5B——
MBU$7.3B$3.6B$6.4B——
EBU$5.2B$3.6B$4.6B——
SBU$4.6B$2.6B$4.6B——
Other Product Sales$561.0M$356.0M———
All Other$17.0M$10.0M$38.0M$13.0M$24.0M

Revenue by region · FY2026

UNITED STATES$91.3B · 69%
TAIWAN, PROVINCE OF CHINA$16.9B · 13%
CHINA$8.3B · 6%
HONG KONG$6.3B · 5%
Other Asia Pacific$5.8B · 4%
JAPAN$2.1B · 2%
Europe$1.7B · 1%
Other Foreign Countries$729.0M · 1%

Street estimates by fiscal year

Next report 2026-12-23 · consensus EPS $38.20 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$130.2B$129.5B – $131.6B$73.85$72.70 – $80.102211.9x
2026$130.2B$129.4B – $131.5B$73.85$72.84 – $79.982211.9x
2027$255.2B$228.9B – $288.2B$160.05$133.29 – $223.50245.5x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-09-30$31.77$33.42+5.2%$51.3B$54.2B+5.6%
2026-06-24$20.98$25.11+19.7%$35.9B$41.5B+15.4%
2026-03-18$9.19$12.20+32.8%$20.0B$23.9B+19.5%
2025-12-17$3.96$4.78+20.7%$12.9B$13.6B+5.7%
2025-09-23$2.86$3.03+5.9%$11.2B$11.3B+0.9%
2025-06-25$1.60$1.91+19.4%$8.9B$9.3B+4.9%
2025-03-20$1.43$1.56+9.1%$7.9B$8.1B+2.0%
2024-12-18$1.75$1.79+2.3%$8.7B$8.7B−0.1%
2024-09-25$1.12$1.18+5.4%$7.6B$7.8B+1.3%
2024-06-26$0.48$0.62+29.1%$6.7B$6.8B+2.1%
2024-03-20$-0.25$0.42+266.2%$5.3B$5.8B+8.9%
2023-12-20$-0.99$-0.95+4.0%$4.8B$4.7B−1.7%
2023-09-27$-1.18$-1.07+9.3%$3.9B$4.0B+2.5%
2023-06-28$-1.58$-1.43+9.5%$3.6B$3.8B+2.9%
2023-03-28$-0.66$-1.91−189.4%$3.7B$3.7B−0.7%
2022-12-21$-0.01$-0.04−194.1%$4.1B$4.1B−1.2%
2022-06-30$2.43$2.59+6.6%$8.6B$8.6B−0.0%
2022-03-29$1.97$2.14+8.6%$7.5B$7.8B+3.4%
2021-12-20$2.11$2.16+2.4%$7.5B$7.7B+2.2%
2021-09-28$2.33$2.42+3.9%—$8.3B—
2021-06-30$1.72$1.88+9.3%—$7.4B—
2021-01-07$0.71$0.78+9.9%$5.2B$5.8B+10.9%
2020-03-25$0.37$0.45+21.6%$3.9B$4.8B+21.6%
2019-12-18$0.47$0.48+2.1%$5.0B$5.1B+2.1%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
26.606-1558.306-2234.706-2931.507-0631.707-1329.307-2041.707-2724.708-0321.808-1021.008-1715.608-2416.308-31
Week ofNotionalSharesTrades
2026-08-31$16.3B16,989,574547,453
2026-08-24$15.6B16,805,402578,894
2026-08-17$21.0B21,730,782799,989
2026-08-10$21.8B23,755,307727,745
2026-08-03$24.7B28,395,580883,395
2026-07-27$41.7B50,304,9941,469,866

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1530.3%
DateShort shareShort volumeTotal volume
2026-10-1530.3%5,613,15218,519,188
2026-10-1429.8%3,804,72412,761,386
2026-10-1334.3%4,891,38714,252,711
2026-10-1240.0%4,640,31111,611,701
2026-10-0937.8%3,861,09410,202,363
2026-10-0845.6%6,538,24514,345,429
2026-10-0740.8%6,514,49815,974,058
2026-10-0639.2%3,761,3559,605,924
2026-10-0549.1%3,925,0447,997,107
2026-10-0255.3%6,852,10612,382,508
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+4.8Jan+1.9Feb+1.9Mar+0.4Apr+4.8May-1.6Jun-1.3Jul-0.9Aug+4.1Sep+2.7Oct+2.5Nov+4.4Dec
MonthAvg returnUp yearsYears
Jan+4.8%65%20
Feb+1.9%55%20
Mar+1.9%52%21
Apr+0.4%45%20
May+4.8%60%20
Jun−1.6%45%20
Jul−1.3%35%20
Aug−0.9%40%20
Sep+4.1%50%20
Oct+2.7%50%20
Nov+2.5%60%20
Dec+4.4%65%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1434.0
MFI41.5
ADX22.2
Stochastic %K / %D12.7 / 11.4
Williams %R-91.7
CCI-191
TSI / signal-8.9 / 6.4
Chaikin money flow-0.01
ATR$49.17
Bollinger width24.4%
Volume vs 20-day avg1.11x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$1,032.91 (−14.9%)
SMA 50$983.08 (−10.6%)
SMA 200$717.81 (+22.4%)
EMA 21$996.33 (−11.8%)
EMA 50$982.86 (−10.6%)
EMA 200$755.36 (+16.3%)
Bollinger upper$1,158.91 (−24.2%)
Bollinger lower$906.92 (−3.1%)
Parabolic SAR$1,052.32 (−16.5%)
Open the live chart, 110+ indicators

About Micron Technology, Inc.

Micron Technology, Inc. is a global leader specializing in the development, manufacture, and sale of advanced semiconductor memory and storage solutions. Its operations are structured across four primary business segments: Compute and Networking, Mobile, Storage, and Embedded. The company's product portfolio encompasses a range of memory and data storage technologies. These include high-speed, low-latency Dynamic Random Access Memory (DRAM) components for rapid data retrieval; non-volatile, re-programmable NAND flash storage devices; and fast-read, non-volatile, re-writable NOR memory chips. These innovative solutions are offered under its well-known Micron and Crucial brands, as well as through private label partnerships. Micron's extensive offerings cater to a diverse array of markets and applications. This includes critical infrastructure like cloud servers and enterprise data centers, personal computing (client and graphics), mobile devices such as smartphones, networking equipment, automotive systems, industrial applications, and various consumer electronics. The company utilizes a multi-faceted approach to market its products, employing a direct sales force, independent sales representatives, and a network of distributors and retailers. Additionally, it leverages a web-based direct sales channel and collaborates with various channel and distribution partners. Founded in 1978, Micron Technology, Inc. is headquartered in Boise, Idaho.

https://www.micron.com

Key executives

NameTitlePayBorn
Sanjay MehrotraCEO & Chairman$5.6M1959
Sumit SadanaSenior Advisor to the CEO$2.3M1969
Manish H. BhatiaPresident & COO$2.3M1972
Mark J. MurphyExecutive Vice President & Chief Financial Officer$2.1M1968
Scott J. DeBoerPresident & Chief Technology and Products Officer$2.0M1966
April S. ArnzenExecutive Vice President & Chief People Officer—1971
Michael Charles RaySenior Vice President, Chief Legal Officer & Corporate Secretary—1968
Raj NarasimhanSenior Vice President & GM of Compute and Networking Business Unit——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Sanjay Mehrotra Chairman, President and Chief Executive Officer2025$1.4M$25.4M$3.9M$30.9M
Sumit Sadana Executive Vice President and Chief Business Officer2025$861,332$9.5M$1.4M$11.8M
Manish Bhatia Executive Vice President, Global Operations2025$842,277$9.5M$1.4M$11.8M
Mark Murphy Executive Vice President and Chief Financial Officer2025$815,956$9.0M$1.2M$11.1M
Scott DeBoer Executive Vice President, Chief Technology and Products Officer2025$749,323$8.2M$1.2M$10.2M

Employees

37k201940k202043k202148k202243k202348k202453k202561k2026

Dividends

Ex-dateAmountPaid
2026-10-14$0.152026-10-29
2026-07-06$0.152026-07-21
2026-03-30$0.152026-04-15
2025-12-29$0.1152026-01-14
2025-10-03$0.1152025-10-21
2025-07-07$0.1152025-07-22
2025-03-31$0.1152025-04-15
2024-12-30$0.1152025-01-15

Moat model

Weak · Efficient Scale · 2026-09-03
Cost advantage30
Intangibles36
Switching costs12
Network effect80
Efficient scale100
Our component scores (0-100) and overall 45.0; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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