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OverviewRevenueFinancialsValuationOutlookOwnership
Price
Performance · vs S&P 500
Company
Micron Technology, Inc.
NASDAQ · USD
Mega cap
0.57× peer median
1.07× peer median
121% more volatile
Claude reads this page's data and writes up Micron Technology, Inc.'s financials, valuation and analyst coverage: built only from the figures here, with nothing pulled in from elsewhere.
Generated by an AI model from the data on this page. It can be wrong, and it isn't investment advice or a recommendation to buy or sell anything. Check every figure against the sections themselves before you rely on it.
$1.2B of free cash flow against $18.0B of net income across 5 fiscal years.
Quality · FY25
$4.3B of net debt against $17.5B of annual operating cash flow.
Liquidity · FY25
$27.7B in FY21 to $37.4B in FY25, with the latest year up 48.9%.
Growth · FY25
Free cash flow of $1.7B covers the business without outside capital, on $10.3B of cash and short-term investments.
Liquidity · FY25
$28.8B of current assets against $11.5B due within a year.
Liquidity · FY25
$37.4B of revenue against $27.5B of operating costs, leaving $9.9B.
Profitability · FY25
22.7% in FY21 to 26.4% in FY25.
Profitability · FY25
Revenue came in above consensus by 10.4% on average over the last four reports.
Quality · Jun '26
Micron Technology (NASDAQ: MU) and SanDisk (NASDAQ: SNDK) shares were back in favour again ahead of Friday's opening bell, with the memory stocks rising 2% and 3%. Micron gained 1.9% in premarket trading and SanDisk advanced 3% as Treasury yields eased ahead of the August jobs report.
Micron stock was rising as lower bond yields alleviated pressure on technology stocks.
Nvidia remains the chip leader for AI training and is well positioned for AI inference and agentic AI. Micron has been riding the memory supercycle.
Micron's memory and storage products are important pieces of the broader AI infrastructure stack. Nvidia's new Vera Rubin architecture shows how the chipmaker is targeting the entire AI system, from GPUs and CPUs to networking and software.
A semiconductor industry veteran who survived decades of brutal boom-and-bust cycles is calling an end to that era forever, but buried inside his optimism sits a warning about memory capacity that quietly cuts against the very stocks his words are
Micron expects fourth-quarter revenue of $49 billion to $51 billion and non-GAAP EPS of $30 to $32. Tight memory supply and long-term customer contracts could make this memory boom last longer than past cycles.
Average month-end to month-end move for MUin each calendar month. Point at a bar for that month's spread: past seasonality is a tendency in a small sample, not a forecast.
+$12.3B vs FY24
FY24 → FY25
FY21 → FY25, annualized
+167.0% vs the four before
Q3 FY26 · +345.7% YoY
Share of the latest fiscal year, largest first. The line is the segment across every fiscal year we have: hover it to read one.
What each segment added to or took off the top line in dollars: ranked by the size of the move, not its percentage.
+48.9% YoY
+17.4 pp YoY
+21.2 pp YoY
+997.6% YoY
+19.7 pp YoY
+992.9% YoY
+1278.5% YoY
−$1.1B YoY
| $ billions | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|
| Cash & equivalents | 9.6 | 7.0 | 8.6 | 8.3 | 7.8 |
| Short-term investments | 0.7 | 1.1 | 1.0 | 1.1 | 0.9 |
| Receivables | 9.3 | 6.6 | 2.4 | 5.1 | 5.3 |
| $ billions | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|
| Operating cash flow | 17.5 | 8.5 | 1.6 | 15.2 | 12.5 |
| Capital expenditure | −15.9 | −8.4 | −7.7 | −12.1 | −10.0 |
| Free cash flow | 1.7 | 0.1 | −6.1 |
P/E vs EPS growth · below the channel = cheaper for its growth
P/S vs revenue growth · below the channel = cheaper for its growth
| Ticker | P/E | Fwd P/E | PEG | P/S | Fwd P/S | PSG | EPS gr | Rev gr |
|---|---|---|---|---|---|---|---|---|
| MU | 21.4 | 13.1 | 0.07 | 12.0 | 8.4 | 0.09 | 181% | 96% |
| CSCO | 32.3 | 21.2 | 0.99 | 6.8 | 5.9 | 0.63 | 21% | 9% |
| LRCX | 50.5 | 30.9 | 0.93 | 15.8 | 10.5 | 0.41 | 33% | 26% |
| AMAT | 37.4 | 34.0 | 0.83 | 11.2 | 10.1 | 0.39 | 41% | 26% |
| ARM | 250.1 | 108.9 | 1.58 | 50.2 | 42.7 | 1.40 | 69% | 30% |
| SAP | 27.6 | 30.6 | 1.80 | 5.7 | 6.3 | 0.57 | 17% | 11% |
Dots = reported EPS vs consensus · gap = surprise · dashed = estimate ($)
Solid = reported · dashed = forward consensus · shaded = analyst low–high ($B)
Rows: discount rate (r) · Columns: terminal growth (g∞) · cell = fair value, shaded by up/downside vs 958.
Last 12M · $0M bought · $111M sold · net −$111M
| Inventory |
|---|
| 8.4 |
| 8.9 |
| 8.4 |
| 6.7 |
| 4.5 |
| Total current assets | 28.8 | 24.4 | 21.2 | 21.8 | 19.9 |
|---|
| Property, plant & equipment | 47.3 | 40.4 | 38.6 | 39.2 | 33.8 |
|---|
| Long-term investments | 1.6 | 1.0 | 0.8 | 1.6 | 1.8 |
|---|
| Other non-current assets | 5.0 | 3.6 | 3.6 | 3.6 | 3.4 |
|---|
| Total assets | 82.8 | 69.4 | 64.3 | 66.3 | 58.8 |
|---|
| Accounts payable | 3.1 | 2.7 | 1.7 | 2.1 | 1.7 |
|---|
| Short-term debt | 0.6 | 0.1 | 0.1 | 0.0 | 0.0 |
|---|
| Total current liabilities | 11.5 | 9.2 | 4.8 | 7.5 | 6.4 |
|---|
| Long-term debt | 14.0 | 11.2 | 11.9 | 6.0 | 6.0 |
|---|
| Total liabilities | 28.6 | 24.3 | 20.1 | 16.4 | 14.9 |
|---|
| Shareholders’ equity | 54.2 | 45.1 | 44.1 | 49.9 | 43.9 |
|---|
Fiscal year · latest five reported years
| 3.1 |
| 2.4 |
| Investing cash flow | −14.1 | −8.3 | −6.2 | −11.6 | −10.6 |
|---|
| Dividends paid | −0.5 | −0.5 | −0.5 | −0.5 | 0.0 |
|---|
| Share buybacks | 0.0 | −0.3 | −0.4 | −2.4 | −1.2 |
|---|
| Net debt issued / (repaid) | −0.2 | −0.9 | 6.0 | −0.0 | −0.3 |
|---|
| Financing cash flow | −0.8 | −1.8 | 5.0 | −3.0 | −1.8 |
|---|
| Net change in cash | 2.6 | −1.6 | 0.3 | 0.5 | 0.1 |
|---|
Fiscal year · outflows shown negative