MICRON TECHNOLOGY INC MU

Technology SIC 3674 - Semiconductors & Related Devices Nasdaq

We are an industry leader in innovative memory and storage solutions transforming how the world uses information to enrich life for all. With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND, and NOR memory and storage products through our Micron® and Crucial® brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence (AI) and compute-intensive applications that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience.

We manufacture our products at wholly-owned facilities and also utilize subcontractors for certain manufacturing processes. Our global network of manufacturing centers of excellence not only allows us to benefit from scale while streamlining processes and operations, but it also brings together some of the world's brightest talent to work on the most advanced memory technology. Centers of excellence bring expertise together in one location, providing an efficient support structure for end-to-end manufacturing, with quicker cycle times, in partnership with teams, such as R&D, product development, human resources, procurement, and supply chain. For our locations in Singapore and Taiwan, this is also a combination of bringing fabrication and back-end manufacturing together. We continue to make significant investments to develop proprietary product and process technology, which generally increases bit density per wafer and reduces per-bit manufacturing costs of each generation of product. We continue to introduce new generations of products that offer improved performance characteristics, including higher data transfer rates, advanced packaging solutions, lower power consumption, improved read/write reliability, and increased memory density.

Last close 1,016.59 2026-09-04
Market cap $1.15T 2026-05-28 share count
52-week range 128.40 - 1,255.00

Valuation FY2025 figures against the last close

P/S30.7x
P/E133.9x
P/FCF688.3x
EV/EBITDA63.5x
Dividend yield0.0%
Diluted EPS7.59

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $37.38B$25.11B$15.54B$30.76B$27.70B$21.43B$23.41B$30.39B$20.32B$12.40B
Cost of revenue $22.50B$19.50B$16.96B$16.86B$17.28B$14.88B$12.70B$12.50B$11.89B$9.89B
Gross profit $14.87B$5.61B-$1.42B$13.90B$10.42B$6.55B$10.70B$17.89B$8.44B$2.50B
R&D $3.80B$3.43B$3.11B$3.12B$2.66B$2.60B$2.44B$2.14B$1.82B$1.62B
SG&A $1.21B$1.13B$920.0M$1.07B$894.0M$881.0M$836.0M$813.0M$743.0M$659.0M
Operating income $9.77B$1.30B-$5.75B$9.70B$6.28B$3.00B$7.38B$14.99B$5.87B$168.0M
Interest expense $477.0M$562.0M$388.0M$189.0M$183.0M$194.0M$128.0M$342.0M$601.0M$437.0M
Pre-tax income $9.65B$1.24B-$5.66B$9.57B$6.22B$2.98B$7.05B$14.31B$5.20B-$281.0M
Income tax $1.12B$451.0M$177.0M$888.0M$394.0M$280.0M$693.0M$168.0M$114.0M$19.0M
Net income $8.54B$778.0M-$5.83B$8.69B$5.86B$2.69B$6.31B$14.13B$5.09B-$276.0M
EPS, basic 7.650.70-5.347.815.232.425.6712.274.67-0.27
EPS, diluted 7.590.70-5.347.755.142.375.5111.514.41-0.27
Shares, diluted (wtd. avg.) $1.12B$1.12B$1.09B$1.12B$1.14B$1.13B$1.14B$1.23B$1.15B$1.04B

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $9.64B$7.04B$8.66B$8.34B$7.83B$7.69B$7.28B$6.59B$5.22B$4.26B
Short-term investments $665.0M$1.06B$1.02B$1.07B$870.0M$518.0M$803.0M$296.0M
Receivables $7.16B$5.42B$2.05B$4.76B$4.92B$3.49B$2.78B$5.06B$3.49B$1.76B
Inventory $8.36B$8.88B$8.39B$6.66B$4.49B$5.37B$5.12B$3.60B$3.12B$2.89B
Total current assets $28.84B$24.37B$21.24B$21.78B$19.91B$17.96B$16.50B$16.04B$12.46B$9.49B
Property, plant and equipment $28.24B$23.67B$19.43B$14.69B
Goodwill $1.15B$1.15B$1.15B$1.23B$1.23B$1.23B$1.23B$1.23B$1.23B$104.0M
Other intangibles $453.0M$416.0M$404.0M$421.0M$349.0M$334.0M$340.0M$331.0M$387.0M$464.0M
Total assets $82.80B$69.42B$64.25B$66.28B$58.85B$53.68B$48.89B$43.38B$35.34B$27.54B
Accounts payable $9.65B$7.30B$3.96B$6.09B$5.33B$5.82B$4.63B$4.37B$3.66B$3.88B
Short-term debt $560.0M$431.0M$278.0M$103.0M$155.0M$270.0M$1.31B$859.0M$1.26B$756.0M
Total current liabilities $11.45B$9.25B$4.76B$7.54B$6.42B$6.63B$6.39B$5.75B$5.33B$4.83B
Long-term debt $11.53B$11.34B$12.05B$6.02B$5.97B$6.16B
Total liabilities $28.63B$24.29B$20.13B$16.38B$14.92B$14.68B$12.02B$10.11B$15.85B$14.61B
Retained earnings $48.58B$40.88B$40.82B$47.27B$39.05B$33.38B$30.76B$24.39B$10.26B$5.30B
Total equity $54.16B$45.13B$44.12B$49.91B$43.93B$39.00B$36.77B$33.16B$19.47B$12.93B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $17.52B$8.51B$1.56B$15.18B$12.47B$8.31B$13.19B$17.40B$8.15B$3.17B
Depreciation and amortisation $8.35B$7.78B$7.76B$7.12B$6.21B$5.65B$5.42B$4.76B$3.86B$2.98B
Stock-based compensation $972.0M$833.0M$596.0M$514.0M$378.0M$328.0M$243.0M$198.0M$215.0M$191.0M
Capital expenditure $15.86B$8.39B$7.68B$12.07B$10.03B$8.22B$9.78B$8.88B$4.73B$5.82B
Investing cash flow -$14.09B-$8.31B-$6.19B-$11.59B-$10.59B-$7.59B-$10.09B-$8.22B-$7.54B-$3.04B
Financing cash flow -$850.0M-$1.84B$4.98B-$2.98B-$1.78B-$317.0M-$2.44B-$7.78B$349.0M$1.75B
Dividends paid $522.0M$513.0M$504.0M$461.0M$0$0
Buybacks $0$300.0M$425.0M$2.43B$1.20B$176.0M$2.73B$71.0M$36.0M$125.0M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000723125-25-000028.

Others in SIC 3674

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TXN TEXAS INSTRUMENTS INC $236.02B 47.4x 13.0%
MRVL Marvell Technology, Inc. $196.03B 72.8x 42.1%
ADI ANALOG DEVICES INC $175.53B 79.4x 16.9%