Micron Technology Inc. (MU) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$20.7	$25.1	+21.4%	—	—	—
Q4 26	$9.16	$12.2	+33.2%	—	—	—
Q3 26	$4.47	$4.67	+4.5%	—	—	—
Q2 26	$2.86	$3.03	+5.9%	—	—	—
Q1 26	$1.59	$1.91	+20.1%	—	—	—
Q4 25	$1.42	$1.56	+9.9%	—	—	—
Q3 25	$1.77	$1.79	+1.1%	—	—	—
Q2 25	$1.11	$1.18	+6.3%	—	—	—
Q1 25	$0.53	$0.62	+17.0%	—	—	—
Q4 24	-$0.24	$0.42	+275.0%	—	—	—
Q3 24	-$0.97	-$0.95	+2.1%	—	—	—
Q2 24	-$1.18	-$1.07	+9.3%	—	—	—
Q1 24	-$1.58	-$1.43	+9.5%	—	—	—
Q4 23	-$0.86	-$1.91	-122.1%	—	—	—
Q3 23	-$0.01	-$0.04	-300.0%	—	—	—
Q2 23	$1.3	$1.45	+11.5%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$7.65	—	—	$37.4B	—
FY24	—	$0.7	—	—	$25.1B	—
FY23	—	-$5.34	—	—	$15.5B	—
FY22	—	$7.81	—	—	$30.8B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$12.4B	$20.3B	$30.4B	$23.4B	$21.4B	$27.7B	$30.8B	$15.5B	$25.1B	$37.4B
YoY change	-23.4%	+63.9%	+49.5%	-23%	-8.42%	+29.3%	+11%	-49.5%	+61.6%	+48.9%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	12.4B	20.3B	30.4B	23.4B	21.4B	27.7B	30.8B	15.5B	25.1B	37.4B
Cost of revenue	9.9B	11.9B	12.5B	12.7B	14.9B	17.3B	16.9B	17B	19.5B	22.5B
Gross profit	2.5B	8.4B	17.9B	10.7B	6.6B	10.4B	13.9B	-1.4B	5.6B	14.9B
Gross margin	20.2%	41.5%	58.9%	45.7%	30.6%	37.6%	45.2%	-9.11%	22.4%	39.8%
Research & development	1.6B	1.8B	2.1B	2.4B	2.6B	2.7B	3.1B	3.1B	3.4B	3.8B
Selling, general & administrative	659M	743M	813M	836M	881M	894M	1.1B	920M	1.1B	1.2B
Operating expenses	2.3B	2.6B	3B	3.3B	3.5B	3.7B	4.2B	4B	4.4B	5.1B
Operating income	231M	5.9B	14.9B	7.4B	3.1B	6.7B	9.7B	-5.5B	1.2B	9.8B
Operating margin	1.86%	28.9%	49.1%	31.6%	14.3%	24.4%	31.6%	-35.1%	4.96%	26.2%
Non-operating income, net	-117M	-108M	-397M	-419M	3M	-383M	-45M	-279M	27M	-174M
Pretax income	-281M	5.2B	14.3B	7B	3B	6.2B	9.6B	-5.7B	1.2B	9.7B
Income tax	19M	114M	168M	693M	280M	394M	888M	177M	451M	1.1B
Net income	-275M	5.1B	14.1B	6.4B	2.7B	5.9B	8.7B	-5.8B	778M	8.5B
Net margin	-2.22%	25%	46.5%	27.2%	12.6%	21.2%	28.2%	-37.5%	3.1%	22.8%
EBITDA	3.2B	9.8B	19.8B	13B	8.8B	13B	16.9B	2.8B	9.5B	18.7B
EPS	-0.27	4.67	12.3	5.67	2.42	5.23	7.81	-5.34	0.7	7.65
Diluted EPS	-0.27	4.41	11.5	5.51	2.37	5.14	7.75	-5.34	0.7	7.59

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	4B	4.7B	5.8B	6.8B	7.8B	8.7B	8.1B	9.3B	11.3B	13.6B	23.9B	41.5B
Cost of revenue	4.4B	4.8B	4.7B	5B	5B	5.4B	5.1B	5.8B	6.3B	6B	6.1B	6.4B
Gross profit	-435M	-35M	1.1B	1.8B	2.7B	3.3B	3B	3.5B	5.1B	7.6B	17.8B	35.1B
Gross margin	-10.8%	-0.74%	18.5%	26.9%	35.3%	38.4%	36.8%	37.7%	44.7%	56%	74.4%	84.6%
Research & development	719M	845M	832M	850M	903M	888M	898M	965M	1B	1.2B	1.3B	1.3B
Selling, general & administrative	219M	263M	280M	291M	295M	288M	285M	318M	314M	337M	344M	407M
Operating expenses	940M	1.1B	897M	1.2B	1.2B	1.2B	1.2B	1.3B	1.4B	1.5B	1.6B	1.7B
Operating income	-1.4B	-1.1B	182M	681M	1.5B	2.2B	1.8B	2.2B	3.7B	6.1B	16.1B	33.3B
Operating margin	-34.3%	-23.9%	3.13%	10%	19.7%	25%	22%	23.3%	32.6%	45%	67.6%	80.4%
Non-operating income, net	-88M	-27M	2M	48M	-12M	-11M	-11M	-68M	-84M	-140M	-98M	-321M
Pretax income	-1.5B	-1.2B	170M	715M	1.5B	2.2B	1.8B	2.1B	3.6B	6.1B	16.2B	33.2B
Income tax	-24M	73M	-622M	377M	623M	283M	177M	235M	429M	829M	2.4B	5B
Net income	-1.4B	-1.2B	793M	332M	887M	1.9B	1.6B	1.9B	3.2B	5.2B	13.8B	28.2B
Net margin	-35.7%	-26.1%	13.6%	4.87%	11.4%	21.5%	19.7%	20.3%	28.3%	38.4%	57.8%	68.1%
EBITDA	713M	892M	2.2B	2.8B	3.6B	4.3B	3.9B	4.3B	5.9B	8.3B	18.5B	35.6B
EPS	-1.31	-1.12	0.72	0.3	0.8	1.68	1.42	1.69	2.86	4.66	12.3	25
Diluted EPS	-1.31	-1.12	0.71	0.3	0.79	1.67	1.41	1.68	2.83	4.6	12.1	24.7

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	17.1B	34.8B	60.5B	50.4B	50.5B	82.5B	62.9B	76.4B	106.3B	132.8B	1.1T
Enterprise value	22.6B	40.5B	58.3B	48.3B	49.6B	81.2B	61B	80.8B	112.2B	137.8B	1.1T
Shares outstanding	1B	1.1B	1.2B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	6.84	4.28	7.93	18.6	14.1	7.24	—	136.7	15.6	13.3
P/S	1.38	1.71	1.99	2.15	2.36	2.98	2.04	4.92	4.24	3.55	8.41
P/B	1.32	1.79	1.82	1.37	1.3	1.88	1.26	1.73	2.36	2.45	11.1
EV/EBITDA	7	4.13	2.95	3.71	5.62	6.25	3.6	29.1	11.8	7.39	10.3
EV/Sales	1.82	1.99	1.92	2.06	2.31	2.93	1.98	5.2	4.47	3.69	8.45
Earnings yield	—	14.6%	23.4%	12.6%	5.36%	7.1%	13.8%	—	0.73%	6.43%	7.51%
FCF yield	-15.5%	9.82%	14.1%	6.76%	0.16%	2.95%	4.95%	-8%	0.11%	1.26%	2.6%
PEG	—	—	—	—	—	—	—	—	—	—	0.01

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	20.2%	41.5%	58.9%	45.7%	30.6%	37.6%	45.2%	-9.11%	22.4%	39.8%	84.6%
Operating margin	1.86%	28.9%	49.1%	31.6%	14.3%	24.4%	31.6%	-35.1%	4.96%	26.2%	80.7%
Net margin	-2.22%	25%	46.5%	27.2%	12.6%	21.2%	28.2%	-37.5%	3.1%	22.8%	63.8%
ROE	-2.13%	26.1%	42.6%	17.3%	6.95%	13.3%	17.4%	-13.2%	1.72%	15.8%	88.3%
ROA	-1%	14.4%	32.6%	13%	5.05%	9.96%	13.1%	-9.08%	1.12%	10.3%	44.6%
ROIC	1.25%	22.8%	47.6%	19.2%	7.29%	14.8%	18.3%	-11.3%	1.55%	14.7%	62.5%
Return on tangible assets	-1.04%	15.9%	35.1%	13.9%	5.36%	10.5%	13.8%	-9.54%	1.17%	10.7%	38.6%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.96	2.34	2.79	2.58	2.71	3.1	2.89	4.46	2.64	2.52	3.31
Quick ratio	1.37	1.75	2.16	1.78	1.9	2.4	2.01	2.7	1.68	1.79	2.98
Debt / equity	0.77	0.57	0.14	0.16	0.18	0.17	0.15	0.32	0.31	0.28	0.04
Debt / assets	0.36	0.32	0.11	0.12	0.13	0.12	0.11	0.22	0.2	0.18	0.05
Net debt / EBITDA	1.71	0.58	-0.11	-0.16	-0.11	-0.1	-0.11	1.56	0.62	0.27	-0.29
Interest coverage	0.36	9.65	42.8	56.1	16.4	35	51.6	-13.6	3.21	21.2	257.8
Effective tax rate	0%	2.19%	1.17%	9.83%	9.39%	6.34%	9.28%	0%	36.4%	11.6%	14.6%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	12	18.7	26.4	21	19.3	24.7	27.7	14.2	22.7	33.5	118.2
EPS (basic)	-0.27	4.67	12.3	5.67	2.42	5.23	7.81	-5.34	0.7	7.65	7.65
EPS (diluted)	-0.27	4.41	11.5	5.51	2.37	5.14	7.75	-5.34	0.7	7.59	74.3
Book value per share	12.5	17.9	28.8	33	35.1	39.2	44.9	40.4	40.8	48.5	89.2
FCF per share	-2.56	3.14	7.4	3.06	0.07	2.18	2.8	-5.6	0.11	1.49	22.9
Cash per share	4.25	4.98	5.9	7.14	7.34	7.71	8.39	8.78	7.34	9.24	38.4
Capex per share	5.61	4.35	7.71	8.78	7.41	—	—	—	—	14.2	22.1

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	46.9%	23.3%	29.2%	41.8%	38.4%	—	—	—	—	42.4%	28%
Capex / operating cash flow	201.1%	61.7%	54.3%	75.4%	106.8%	—	—	—	—	90.5%	49.1%
Payout ratio	—	—	—	—	0%	0%	5.31%	-8.64%	65.9%	6.11%	0.71%
Dividend yield	—	—	—	—	0%	0%	0.73%	0.66%	0.48%	0.39%	0.06%

Yield

0.06%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.15

ex-dividend Oct 14, 2026

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Oct 14, 2026upcoming	$0.15
Jul 6, 2026	$0.15
Mar 30, 2026	$0.15
Dec 29, 2025	$0.115
Oct 3, 2025	$0.115
Jul 7, 2025	$0.115
Mar 31, 2025	$0.115
Dec 30, 2024	$0.115

Split history

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	$4B	$4.7B	$5.8B	$6.8B	$7.8B	$8.7B	$8.1B	$9.3B	$11.3B	$13.6B	$23.9B	$41.5B
YoY change	-39.6%	+15.7%	+57.7%	+81.5%	+93.3%	+84.3%	+38.3%	+36.6%	+46%	+56.7%	+196.3%	+345.7%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	4.4B	5.4B	6.8B	8B	8.1B	8.6B	9.3B	9.6B	8.1B	10.3B
Receivables	1.8B	3.5B	5.1B	2.8B	3.5B	4.9B	4.8B	2B	5.4B	7.2B
Inventory	2.9B	3.1B	3.6B	5.1B	5.4B	4.5B	6.7B	8.4B	8.9B	8.4B
Total current assets	9.5B	12.5B	16B	16.5B	18B	19.9B	21.8B	21.2B	24.4B	28.8B
Property, plant & equipment	8B	11.5B	15B	17.3B	17.6B	19B	22.6B	20.6B	20.3B	25.2B
Goodwill & intangibles	1.1B	3.2B	3.1B	3.1B	3.1B	3.2B	3.3B	3.1B	3.1B	3.2B
Total assets	27.5B	35.3B	43.4B	48.9B	53.7B	58.8B	66.3B	64.3B	69.4B	82.8B
Accounts payable	1.2B	1.3B	1.7B	1.7B	2.2B	1.7B	2.1B	1.7B	2.7B	3.1B
Short-term debt	756M	1.3B	859M	1.3B	270M	155M	103M	278M	431M	560M
Total current liabilities	4.8B	5.3B	5.8B	6.4B	6.6B	6.4B	7.5B	4.8B	9.2B	11.5B
Long-term debt	9.2B	9.9B	3.8B	4.5B	6.9B	7.1B	7.4B	13.7B	13.6B	14.7B
Total liabilities	14.6B	15.9B	10.2B	12.1B	14.7B	14.9B	16.4B	20.1B	24.3B	28.6B
Shareholders' equity	12.9B	19.5B	33.2B	36.8B	39B	43.9B	49.9B	44.1B	45.1B	54.2B
Total debt	9.9B	11.2B	4.6B	5.9B	7.2B	7.3B	7.5B	13.9B	14B	15.3B
Net debt	5.8B	6B	-1.9B	-1.3B	-448M	-483M	-746M	5.4B	7B	5.6B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Cash & short-term investments	9.6B	9B	9B	8.4B	8.1B	7.6B	8.2B	10.8B	10.3B	10.3B	14.6B	26B
Receivables	2B	2.5B	3.6B	4.4B	5.4B	6.3B	5.1B	5.5B	7.2B	8B	15.4B	26.9B
Inventory	8.4B	8.3B	8.4B	8.5B	8.9B	8.7B	9B	8.7B	8.4B	8.2B	8.3B	8.6B
Total current assets	21.2B	21.1B	23.4B	23.3B	24.4B	24.5B	24.7B	27.9B	28.8B	29.7B	41.4B	66.7B
Property, plant & equipment	20.6B	19.7B	19.3B	19.5B	20.3B	21.7B	22.2B	23.6B	25.2B	26.3B	28.8B	33.4B
Goodwill & intangibles	3.1B	3.1B	3.1B	3.1B	3.1B	3.1B	3.1B	3.2B	3.2B	3.2B	3.2B	3.2B
Total assets	64.3B	63.8B	65.7B	66.3B	69.4B	71.5B	73.1B	78.4B	82.8B	86B	101.5B	134.1B
Accounts payable	1.7B	1.7B	1.9B	2B	2.7B	2.5B	2.4B	2.8B	3.1B	3.2B	3.4B	3.6B
Short-term debt	278M	908M	344M	398M	431M	533M	504M	538M	560M	569M	585M	582M
Total current liabilities	4.8B	6B	6.3B	6.8B	9.2B	9B	7.9B	10.1B	11.5B	12.1B	14.3B	19.5B
Long-term debt	13.7B	13.2B	14B	13.5B	13.6B	13.8B	14.4B	15.6B	14.7B	11.9B	10.2B	5.8B
Total liabilities	20.1B	20.9B	21.8B	22B	24.3B	24.7B	24.4B	27.6B	28.6B	27.2B	29.1B	33.4B
Shareholders' equity	44.1B	42.9B	43.9B	44.2B	45.1B	46.8B	48.6B	50.7B	54.2B	58.8B	72.5B	100.7B
Total debt	13.9B	14.1B	14.3B	13.9B	14B	14.4B	15B	16.1B	15.3B	12.4B	10.8B	6.4B
Net debt	5.4B	6B	6.3B	6.3B	7B	7.7B	7.4B	6B	5.6B	2.7B	-3.1B	-18.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-275M	5.1B	14.1B	6.4B	2.7B	5.9B	8.7B	-5.8B	778M	8.5B
Depreciation & amortization	3B	3.9B	4.8B	5.4B	5.7B	6.2B	7.1B	7.8B	7.8B	8.4B
Stock-based compensation	191M	215M	198M	243M	328M	378M	514M	596M	833M	972M
Change in working capital	-99M	-2B	-2.5B	1.1B	-1.1B	-630M	-1.6B	-1.6B	-3.1B	-1.5B
Operating cash flow	2.9B	7.7B	16.3B	13B	7.7B	12.2B	14.8B	929M	6.6B	17.5B
Capital expenditure	-5.8B	-4.7B	-8.9B	-9.8B	-8.2B	—	—	—	—	-15.9B
Investing cash flow	-3B	-7.5B	-8.2B	-10.1B	-7.6B	-559M	482M	1.5B	77M	-14.1B
Dividends paid	—	—	—	—	0	0	-461M	-504M	-513M	-522M
Share repurchases	-148M	-36M	-71M	-2.7B	-176M	-1.2B	-2.4B	-425M	-300M	0
Financing cash flow	1.5B	207M	-9.4B	-2.4B	-242M	-1.8B	-3B	5B	-1.8B	-850M
Net change in cash	1.4B	339M	-1.3B	444M	-131M	9.9B	12.3B	7.4B	4.8B	2.6B
Free cash flow	-2.6B	3.4B	8.5B	3.4B	83M	2.4B	3.1B	-6.1B	121M	1.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Net income	-1.4B	-1.2B	793M	332M	887M	1.9B	1.6B	1.9B	3.2B	5.2B	13.8B	28.2B
Depreciation & amortization	1.9B	1.9B	1.9B	2B	2B	2B	2.1B	2.1B	2.1B	2.2B	2.3B	2.4B
Stock-based compensation	148M	188M	213M	219M	213M	220M	249M	253M	250M	290M	309M	355M
Change in working capital	-114M	189M	-1.3B	-444M	-1.2B	-808M	561M	-738M	-872M	275M	-4.9B	-8.2B
Operating cash flow	488M	1.1B	1.7B	2.2B	1.9B	3.5B	4.6B	4.1B	5.7B	8.4B	11.9B	25.4B
Capital expenditure	—	—	—	—	—	—	—	—	-5.7B	-5.4B	-6.4B	-7.8B
Investing cash flow	631M	238M	233M	84M	-478M	58M	903M	349M	-5.2B	-4.6B	-5.5B	-9.6B
Dividends paid	-126M	-129M	-127M	-128M	-129M	-131M	-130M	-131M	-130M	-134M	-132M	-171M
Share repurchases	0	0	0	0	-300M	—	—	—	—	-300M	-350M	0
Financing cash flow	-112M	-352M	-106M	-910M	-474M	-422M	-2.6B	288M	-1.1B	-3.4B	-2B	-4.5B
Net change in cash	1B	1B	1.8B	1.4B	949M	3.1B	2.9B	4.7B	-532M	439M	4.4B	11.3B
Free cash flow	-1.2B	-395M	-165M	396M	285M	38M	-113M	1.7B	72M	3B	5.5B	17.6B

May 2, 2000	2:1
May 23, 1995	2:1
Apr 19, 1994	5:2

Micron Technology Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement