Micron Technology, Inc. (MU)

NASDAQ: MU · USD

$984

+55.45 (+6.0%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-09-09

Our latest published analysis: MU rated Strong Buy

Micron Technology, Inc.'s published Strong Buy conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$1,794 / share

Potential value

$2,251 / share

Upside to FV

+79.4%

from $984

Moat

1/10

None

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$1.15T
Revenue (ttm)	133.2B
Net income (ttm)	85B
EPS (ttm)	$74.3
Shares out	1.1B
P/E (trailing)	13.2x
P/E (forward)	6.2x
Dividend	$0.60 (0.06%)
Volume	24,817,913
Beta	2.23

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 133.2B
Net income (ttm): 85B
EPS (ttm): $74.3
P/E (trailing): 13.2x
P/E (forward): 6.2x
Market cap: $1.15T

Item	P1	P2	P3	P4	P5	Trend
Period	2022-09-01	2023-08-31	2024-08-29	2025-08-28	2026-08-31	Trend
Revenue	$30.76B	$15.54B	$25.11B	$37.38B	—	+6.7%
Gross profit	$13.90B	$-1.42B	$5.61B	$14.87B	—	+2.3%
Operating income	$9.70B	$-5.75B	$1.30B	$9.77B	—	+0.2%
Net income	$8.69B	$-5.83B	$778.0M	$8.54B	—	-0.6%
EPS (diluted)	$7.75	$-5.34	$0.70	$7.59	$41.87	+52.5%
EBITDA	$16.74B	$2.21B	$8.94B	$18.49B	—	+3.4%
R&D	$3.12B	$3.11B	$3.43B	$3.80B	—	+6.8%
SG&A	$1.07B	$920.0M	$1.13B	$1.21B	—	+4.2%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	売り
ABNB	Airbnb, Inc.	97.8B	37.5x	7.4x	16.8%	+24.4%	+28.5%	売り
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	強い買い
ACN	Accenture plc	144.3B	18.0x	2.0x	27.9%	+8.0%	+0.4%	ホールド
ADI	Analog Devices, Inc.	207.6B	50.9x	14.8x	11.0%	+16.4%	+76.9%	売り
AI	C3.ai, Inc.	2B	—	8.4x	-35.6%	+3.6%	-33.6%	売り

Base and Bull scenarios

Base55%

Price target

$1,794.21

+79.4% from spot

Fair value requires reported revenue and actual diluted EPS to support their forecast bases, while free cash flow rises above FY2025. A revenue, margin, or cash miss by FY2027 would disconfirm this path.

FY2027 revenue reaches the base-case checkpoint, while adjusted earnings and free cash flow confirm that sales are becoming profit and cash.

Bull20%

Price target

$2,250.58

+125.0% from spot

Potential value requires FY2027 adjusted earnings to hold and annual free cash flow to rise from FY2025. This path fades if sales or cash after investment weakens.

FY2027 sales approach the analyst mean while the earnings estimate remains supported.
Broad segment profit is accompanied by stronger free cash flow after investment.

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($1,794.21). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.0%	2.5%	3.0%	3.5%	4.0%
9.3%	$2,056	$2,123	$2,199	$2,289	$2,396
10.3%	$1,869	$1,917	$1,972	$2,035	$2,108
11.3%	$1,717	$1,754	$1,794	$1,840	$1,892
12.3%	$1,592	$1,620	$1,651	$1,685	$1,724
13.3%	$1,486	$1,508	$1,532	$1,559	$1,589

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E6.2

P25 n/aP50 n/aP75 n/a

Trailing P/E23

P25 n/aP50 n/aP75 n/a

ROE88.3

P25 n/aP50 n/aP75 n/a

ROIC93.4

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All MU indicators

Market & fundamental data

Available fields

292

Groups with data

Currency

USD

Showing 292 of 292 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000723125
Company name	Micron Technology, Inc.
Country	United States
Country code	US
CUSIP number	595112103
Earnings date	2026-12-16
Earnings time	amc
Employees	61,000
Employees change	8,000
Employees growth	15.09%
Enterprise value	$1T
Exchange	NASDAQ
Financial currency	USD
Financial report date	2026-09-03
First seen	2026-05-09
Fiscal year end	September
Founded	1978
In index	SP500, NASDAQ100
Industry	Semiconductors
Is primary listing	Yes
Is SPAC	No
ISIN number	US5951121038
Last 10-K release date	2026-10-09
Last earnings date	2026-09-30
Last refreshed	2026-10-28
Last stock split date	2000-05-02
Last stock split type	Forward
Market cap	$1.1T
Market cap category	Mega-Cap
Next earnings date	2026-12-16
Options	Yes
Price	$984.21
Price currency	USD
Sector	Technology
SIC code	3674
Stock price date	2026-10-28
Symbol	MU
Tags	artificial-intelligence
U.S. state	Idaho
Website	https://www.micron.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	13.03x
Average P/E ratio (10Y)	19.26x
Average P/E ratio (3Y)	32.69x
Average P/E ratio (5Y)	25.44x
Earnings yield	7.55%
EV/Earnings	12.09x
EV/EBIT	10.34x
EV/EBITDA	9.44x
EV/FCF	17.43x
EV/Sales	7.71x
FCF / EV yield	5.74%
FCF yield	5.38%
Forward EV/Sales	3.71x
Forward P/E	5.57x
Forward P/S	3.96x
Graham number	452.35099
Graham upside	-53.29%
Industry forward P/E	13.58x
Industry P/E	26.27x
Lynch fair value	$1,858.25
Lynch upside	91.87%
P/(FCF - SBC) ratio	19.01x
P/(OCF - SBC) ratio	12.4x
P/B ratio	7.59x
P/E ratio	13.24x
P/FCF ratio	18.58x
P/OCF ratio	12.22x
P/S ratio	8.23x
PEG ratio	0.07x
Price / tangible book value	7.98x
Price/EBITDA ratio	10.07x
Sector forward P/E	18.38x
Sector P/E	32.76x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	74.59%
EBITDA margin	81.72%
Effective tax rate	14.8%
FCF margin	44.27%
Gross margin	80.72%
Operating margin	74.59%
Pretax margin	74.88%
Profit margin	63.8%
Profit per employee	$1.4M
Profitable quarters	11
Profitable years	3
Revenue per employee	$2.2M
ROA	44.56%
ROA (5Y)	12.02%
ROCE	58.99%
ROE	88.26%
ROE (5Y)	22.66%
ROIC	93.42%
ROIC (5Y)	27.24%
SBC / revenue	1%
Tax / revenue	11.08%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	879.32%
EPS growth (Q)	1,059.46%
EPS growth (QoQ)	33.16%
EPS growth 5Y	70.62%
EPS growth quarters	11
EPS growth years	3
FCF growth	3,434.95%
FCF growth (Q)	45,543.06%
FCF growth (QoQ)	87.13%
FCF growth 5Y	89.11%
Gross profit growth	622.81%
Gross profit growth (Q)	830.89%
Gross profit growth 3Y	537.47%
Gross profit growth 5Y	59.32%
Net income growth	895.07%
Net income growth (Q)	1,077.79%
Net income growth (QoQ)	33.49%
Net income growth 5Y	70.71%
Net income growth quarters	11
Net income growth years	3
OCF growth	411.7%
OCF growth (Q)	667.42%
OCF growth (QoQ)	73.2%
OCF growth 10Y	39.7%
OCF growth 3Y	286.02%
OCF growth 5Y	48.38%
Operating income growth	916.79%
Operating income growth (Q)	1,097.35%
Operating income growth 5Y	70.99%
Revenue growth	256.33%
Revenue growth (Q)	379.27%
Revenue growth (QoQ)	30.81%
Revenue growth 10Y	26.8%
Revenue growth 3Y	104.65%
Revenue growth 5Y	36.89%
Revenue growth quarters	12
Revenue growth years	3

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-30.7B
Depreciation and amortization	$9.5B
EBIT	$99.3B
EBITDA	$108.8B
EPS	$74.33
FCF per share	$52.11
Financing cash flow	$630M
Free cash flow	$59B
Free cash flow minus SBC	$57.6B
Gross profit	$107.5B
Income taxes	$14.8B
Investing cash flow	$-61.6B
Net borrowing	$-10B
Net cash flow	$28.7B
Net income	$85B
Operating cash flow minus SBC	$88.3B
Operating income	$99.3B
Revenue	$133.2B
Stock-based compensation	$1.3B

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	9.72
Book value per share	$122.35
Debt / EBITDA	0.05
Debt / equity	0.04
Debt / FCF	0.09
Goodwill	$1.2B
Interest coverage	937.17
Long-term assets	$104.8B
Long-term liabilities	$30B
Net cash (debt)	$68.3B
Net cash / market cap	6.23%
Net debt / EBITDA	-0.63
Net debt / equity	-0.49
Net debt / FCF	-1.16
Piotroski F-Score	8
Property, plant and equipment	$63.3B
Shareholders' equity	$138.4B
Tangible book value	$137.2B
Tangible book value per share	$121.33
Total assets	$195.9B
Total cash	$43.4B
Total debt	$5.2B
Total liabilities	$57.5B
WACC	16.43%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.96
Current assets	$91.1B
Current liabilities	$27.5B
Current ratio	3.31
Inventory turnover	2.74
Net working capital	$20.6B
Quick ratio	2.9
Working capital	$63.6B
Working capital turnover	3.29

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	-1.6%
Dividend growth	22.83%
Dividend growth (10Y)	18.91%
Dividend growth (3Y)	7.09%
Dividend growth (5Y)	41.39%
Dividend growth years	0
Dividend payment date	2026-10-29
Dividend payment years	6
Dividend payout frequency	Quarterly
Dividend per share	$0.60
Dividend yield	0.06%
Ex-dividend date	2026-10-14
FCF payout ratio	1.08%
Last dividend	$0.15
Payout ratio	0.76%
Shareholder yield	-1.54%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	5,526.07%
10Y return CAGR	50.02%
10Y total return	5,670.42%
150-day SMA	$853.52
15Y price change	17,202.63%
15Y return CAGR	41.23%
15Y total return	17,646.58%
1D price change	5.97%
1M price change	-8.87%
1M total return	-8.86%
1W price change	10.06%
1W total return	10.06%
1Y price change	348.09%
1Y return CAGR	349.06%
1Y total return	348.6%
20-day SMA	$968.42
200-day SMA	$741.11
20Y price change	6,860.13%
20Y return CAGR	23.79%
20Y total return	7,038.71%
3M price change	9.56%
3M total return	9.58%
3Y price change	1,402.29%
3Y return CAGR	147.49%
3Y total return	1,416.78%
50-day SMA	$980.62
50-day SMA vs 200-day SMA	50over200
52-week high	$1,255.00
52-week high date	2026-06-25
52-week low	$192.59
52-week low date	2025-11-21
5Y price change	1,345.27%
5Y return CAGR	71.44%
5Y total return	1,380.28%
6M price change	88.02%
6M total return	88.07%
After-hours change	0.11%
After-hours close	$984.21
After-hours price	$985.32
All-time high	$1,255.00
All-time high date	2026-06-25
All-time low	$0.34
All-time low date	1986-12-08
Average true range (ATR)	$46.69
Average volume	26.7M
Beta (1Y)	2.98
Beta (2Y)	2.54
Beta (5Y)	2.23
Change from 52-week high	-21.58%
Change from 52-week low	411.04%
Change from all-time high	-21.41%
Change from all-time low	292,122.22%
Change from open	2.34%
Day's gap	3.55%
Dollar volume	$24.4B
High price	$990.00
Low price	$960.15
Monthly RSI	69.78
Open price	$961.71
Position in 52-week range	80.6%
Premarket change	3.75%
Premarket close	$928.76
Premarket price	$963.63
Premarket volume	1.5M
Previous close	$928.76
Price vs 150-day SMA	15.55%
Price vs 20-day SMA	1.84%
Price vs 200-day SMA	33.08%
Price vs 50-day SMA	0.57%
Relative volume	0.93
RSI	53.49
Sharpe ratio	2.21
Sharpe ratio (3Y)	1.65
Sharpe ratio (5Y)	1.16
Sortino ratio	3.75
Sortino ratio (3Y)	2.72
Sortino ratio (5Y)	1.92
Volume	24.8M
Weekly RSI	57.64
YTD price change	245.56%
YTD total return	245.81%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	1.1B
Float percentage	99.67%
Shares change (QoQ)	0.17%
Shares change (YoY)	1.6%
Shares held by insiders	0.21%
Shares held by institutions	79.26%
Shares outstanding	1.1B
Short % of float	2%
Short % of shares	1.99%
Short ratio	1 days

Other indicators

Additional ticker metrics that do not fit the primary research groupings.

Metric	Value
Page views	8,086

Deeper analysis on MU

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Scorecard

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this MU report

What is the latest published MU stock rating?

Micron Technology, Inc. is shown with Strong Buy in the latest published report, analyzed 2026-09-09. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full MU analysis?

The full latest published report, analyzed 2026-09-09, lives at /stocks/MU/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for MU?

The latest published report analyzed 2026-09-09 gives MU a fair value of USD 1,794 and a potential value of USD 2,251. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the MU page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-09-09). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

Strong BuyMU · Fair value $1,794+79.4%

Read full analysis →

Micron Technology, Inc. (MU)

Our latest published analysis: MU rated Strong Buy

Price

Financial snapshot

Fair-value bridge

Latest news · MU

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All MU indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Other indicators

Deeper analysis on MU

Frequently asked questions

レーティング履歴

Category	Score	Reading
Valuation	9.5
Management	7.5
Balance Sheet	8.5
Profitability	8.5
Revenue Growth	9.0
Risk Assessment	7.0
Competitive Moat	1.0
Earnings Quality	9.0
Capital Efficiency	7.5