(MU) Micron Technology - Overview
Sector: Technology | Industry: Semiconductors | Exchange: NASDAQ (USA) | Market Cap: 859.446m USD | Total Return: 693.8% in 12m
Avg Turnover: 33.9B
Qual. Beats: 2
Rev. Trend: 97.0%
Qual. Beats: 2
Warnings
No concerns identified
Tailwinds
Leader, Tailwind, Pullback 52w, Confidence
Micron Technology, Inc. is a global manufacturer of memory and storage solutions, specializing in DRAM and NAND technologies. The company operates through four primary segments: Cloud Memory, Core Data Center, Mobile and Client, and Automotive and Embedded. Its product portfolio includes high-bandwidth memory, solid-state drives (SSDs), and multichip packages marketed under the Micron and Crucial brands. Micron serves diverse end-markets ranging from data centers and smartphones to automotive and industrial applications.
The semiconductor memory industry is highly cyclical and capital-intensive, characterized by rapid technological transitions and fluctuating supply-demand dynamics. Micron’s business model relies on maintaining a leadership position in process technology, such as advanced nodes for DRAM and high-layer count NAND, to achieve cost efficiencies. As artificial intelligence applications expand, demand for high-bandwidth memory (HBM) has become a critical growth driver for the sector.
Investors can evaluate these industry cycles further by reviewing the detailed financial metrics available on ValueRay.
Headquartered in Boise, Idaho, the company utilizes a multi-channel distribution strategy, selling through a direct sales force, independent representatives, and retail partners. Its global footprint includes manufacturing and R&D facilities across Asia, Europe, and North America.
- High-bandwidth memory demand for AI servers accelerates revenue growth
- DRAM and NAND pricing volatility dictates quarterly gross margin performance
- China trade restrictions and domestic competition threaten long-term market share
- Capital expenditure on next-generation nodes impacts free cash flow levels
- Inventory cycles in PC and smartphone markets drive short-term earnings volatility
| Net Income: 24.1b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.39 > 0.02 and ΔFCF/TA 13.64 > 1.0 |
| NWC/Revenue: 46.66% < 20% (prev 53.67%; Δ -7.02% < -1%) |
| CFO/TA 0.30 > 3% & CFO 30.7b > Net Income 24.1b |
| Net Debt (-361.0m) to EBITDA (37.1b): -0.01 < 3 |
| Current Ratio: 2.90 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.14b) vs 12m ago 1.51% < -2% |
| Gross Margin: 58.44% > 18% (prev 0.35%; Δ 5.81k% > 0.5%) |
| Asset Turnover: 66.59% > 50% (prev 42.88%; Δ 23.71% > 0%) |
| Interest Coverage Ratio: 80.35 > 6 (EBITDA TTM 37.1b / Interest Expense TTM 353.0m) |
| A: 0.27 (Total Current Assets 41.4b - Total Current Liabilities 14.3b) / Total Assets 102b |
| B: 0.66 (Retained Earnings 66.8b / Total Assets 102b) |
| C: 0.32 (EBIT TTM 28.4b / Avg Total Assets 87.3b) |
| D: 2.30 (Book Value of Equity 66.9b / Total Liabilities 29.1b) |
| Altman-Z'' = 8.50 = AAA |
| DSRI: 1.43 (Receivables 17.3b/6.50b, Revenue 58.1b/31.3b) |
| GMI: 0.59 (GM 58.44% / 34.73%) |
| AQI: 1.11 (AQ_t 0.08 / AQ_t-1 0.07) |
| SGI: 1.86 (Revenue 58.1b / 31.3b) |
| TATA: -0.06 (NI 24.1b - CFO 30.7b) / TA 102b) |
| Beneish M = -2.42 (Cap -4..+1) = BBB |
As of May 23, 2026, the stock is trading at USD 762.10 with a total of 42,072,334 shares traded.
Over the past week, the price has changed by +3.63%,
over one month by +54.06%,
over three months by +78.47% and
over the past year by +693.84%.
Micron Technology has received a consensus analysts rating of 4.49. Therefore, it is recommended to buy MU.
- StrongBuy: 25
- Buy: 6
- Hold: 5
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 613.2 | -19.5% |
P/E Forward = 7.7459
P/S = 14.7877
P/B = 11.8611
P/EG = 0.2626
Revenue TTM = 58.1b USD
EBIT TTM = 28.4b USD
EBITDA TTM = 37.1b USD
Long Term Debt = 7.34b USD (from longTermDebt, last quarter)
Short Term Debt = 585.0m USD (from shortTermDebt, last quarter)
Debt = 14.3b USD (from shortLongTermDebtTotal, last quarter) + Leases 3.46b
Net Debt = -361.0m USD (calculated: Debt 14.3b - CCE 14.6b)
Enterprise Value = 859b USD (859b + Debt 14.3b - CCE 14.6b)
Interest Coverage Ratio = 80.35 (Ebit TTM 28.4b / Interest Expense TTM 353.0m)
EV/FCF = 21.89x (Enterprise Value 859b / FCF TTM 39.2b)
FCF Yield = 4.57% (FCF TTM 39.2b / Enterprise Value 859b)
FCF Margin = 67.53% (FCF TTM 39.2b / Revenue TTM 58.1b)
Net Margin = 41.49% (Net Income TTM 24.1b / Revenue TTM 58.1b)
Gross Margin = 58.44% ((Revenue TTM 58.1b - Cost of Revenue TTM 24.2b) / Revenue TTM)
Gross Margin QoQ = 74.39% (prev 56.09%)
Tobins Q-Ratio = 8.46 (Enterprise Value 859b / Total Assets 102b)
Interest Expense / Debt = 2.48% (Interest Expense 353.0m / Debt 14.3b)
Taxrate = 14.67% (2.37b / 16.2b)
NOPAT = 24.2b (EBIT 28.4b * (1 - 14.67%))
Current Ratio = 2.90 (Total Current Assets 41.4b / Total Current Liabilities 14.3b)
Debt / Equity = 0.20 (Debt 14.3b / totalStockholderEquity, last quarter 72.5b)
Debt / EBITDA = -0.01 (Net Debt -361.0m / EBITDA 37.1b)
Debt / FCF = -0.01 (Net Debt -361.0m / FCF TTM 39.2b)
Total Stockholder Equity = 59.0b (last 4 quarters mean from totalStockholderEquity)
RoA = 27.63% (Net Income 24.1b / Total Assets 102b)
RoE = 40.84% (Net Income TTM 24.1b / Total Stockholder Equity 59.0b)
RoCE = 42.73% (EBIT 28.4b / Capital Employed (Equity 59.0b + L.T.Debt 7.34b))
RoIC = 27.81% (NOPAT 24.2b / Invested Capital 87.0b)
WACC = 15.89% (E(859b)/V(874b) * Re(16.12%) + D(14.3b)/V(874b) * Rd(2.48%) * (1-Tc(0.15)))
Discount Rate = 16.12% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 81.48 | Cagr: 1.60%
[DCF] Terminal Value 57.42% ; FCFF base≈30.9b ; Y1≈35.4b ; Y5≈52.1b
[DCF] Fair Price = 294.7 (EV 332b - Net Debt -361.0m = Equity 332b / Shares 1.13b; r=15.89% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 4.0 | # QB: 2
Revenue Correlation: 96.99 | Revenue CAGR: 56.50% | SUE: 4.0 | # QB: 2
EPS current Quarter (2026-05-31): EPS=19.15 | Chg30d=+1.08% | Revisions=+33% | Analysts=30
EPS current Year (2026-08-31): EPS=58.29 | Chg30d=+0.58% | Revisions=+43% | GrowthEPS=+603.1% | GrowthRev=+193.5%
EPS next Year (2027-08-31): EPS=102.74 | Chg30d=+1.65% | Revisions=+43% | GrowthEPS=+76.2% | GrowthRev=+57.5%
[Analyst] Revisions Ratio: +43%