MICRON TECHNOLOGY INC MU

Technology SIC 3674 - Semiconductors & Related Devices NAICS Manufacturing › Computer and Electronic Product Manufacturing › Semiconductor and Other Electronic Component Manufacturing › Semiconductor and Related Device Manufacturing derived 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 877.55 2026-10-23
Market cap $991.10B 2026-05-28 share count
52-week range 192.59 - 1,255.00

Valuation FY2025 figures against the last close

P/S26.5x
P/E115.6x
P/FCF594.2x
EV/EBITDA54.8x
Dividend yield0.1%
Diluted EPS7.59

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • U.S.
  • Taiwan
  • Mainland China (excluding Hong Kong)
  • Other Asia Pacific
  • Hong Kong
  • Japan
  • Europe
  • Other
Revenue by geography, 8 categories over 3 years. The same figures are in the table below. FY2025 U.S., FY2025: 24.1B (64.5%) 65% U.S. Taiwan, FY2025: 5.7B (15.2%) 15% Taiwan Mainland China (excluding Hong Kong), FY2025: 2.6B (7.1%) 7% Other Asia Pacific, FY2025: 1.9B (5.1%) 5% Hong Kong, FY2025: 1.1B (3.0%) Japan, FY2025: 895M (2.4%) Europe, FY2025: 625M (1.7%) Other, FY2025: 383M (1.0%) FY2024 U.S., FY2024: 13.2B (52.4%) 52% Taiwan, FY2024: 4.7B (18.7%) 19% Mainland China (excluding Hong Kong), FY2024: 3B (12.1%) 12% Other Asia Pacific, FY2024: 1.3B (5.3%) 5% Hong Kong, FY2024: 1.1B (4.3%) 4% Japan, FY2024: 840M (3.3%) Europe, FY2024: 818M (3.3%) Other, FY2024: 131M (0.5%) FY2023 U.S., FY2023: 7.8B (50.2%) 50% Taiwan, FY2023: 2.7B (17.4%) 17% Mainland China (excluding Hong Kong), FY2023: 2.2B (14.0%) 14% Other Asia Pacific, FY2023: 752M (4.8%) 5% Hong Kong, FY2023: 340M (2.2%) Japan, FY2023: 987M (6.4%) 6% Europe, FY2023: 682M (4.4%) 4% Other, FY2023: 96M (0.6%)
Region FY2025FY2024FY2023
U.S. $24.11B $13.17B $7.80B
Taiwan $5.67B $4.71B $2.70B
Mainland China (excluding Hong Kong) $2.64B $3.04B $2.18B
Other Asia Pacific $1.91B $1.33B $752.0M
Hong Kong $1.14B $1.07B $340.0M
Japan $895.0M $840.0M $987.0M
Europe $625.0M $818.0M $682.0M
Other $383.0M $131.0M $96.0M

As the company reported it, from the “Geographic Information - Revenue (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

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.) 1.12B1.12B1.09B1.12B1.14B1.13B1.14B1.23B1.15B1.04B

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.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -20B 0 20B 40B Revenue, FY2016: 12.4B Gross profit, FY2016: 2.5B Net income, FY2016: -276M Revenue, FY2017: 20.3B Gross profit, FY2017: 8.4B Net income, FY2017: 5.1B Revenue, FY2018: 30.4B Gross profit, FY2018: 17.9B Net income, FY2018: 14.1B Revenue, FY2019: 23.4B Gross profit, FY2019: 10.7B Net income, FY2019: 6.3B Revenue, FY2020: 21.4B Gross profit, FY2020: 6.6B Net income, FY2020: 2.7B Revenue, FY2021: 27.7B Gross profit, FY2021: 10.4B Net income, FY2021: 5.9B Revenue, FY2022: 30.8B Gross profit, FY2022: 13.9B Net income, FY2022: 8.7B Revenue, FY2023: 15.5B Gross profit, FY2023: -1.4B Net income, FY2023: -5.8B Revenue, FY2024: 25.1B Gross profit, FY2024: 5.6B Net income, FY2024: 778M Revenue, FY2025: 37.4B Gross profit, FY2025: 14.9B Net income, FY2025: 8.5B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $12.40B $20.32B $30.39B $23.41B $21.43B $27.70B $30.76B $15.54B $25.11B $37.38B
Gross profit $2.50B $8.44B $17.89B $10.70B $6.55B $10.42B $13.90B -$1.42B $5.61B $14.87B
Net income -$276.0M $5.09B $14.13B $6.31B $2.69B $5.86B $8.69B -$5.83B $778.0M $8.54B

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Item 5.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Other event Item 8.01
  • Results announced Item 2.02
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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