MICRON TECHNOLOGY INC

MU

CIK 0000723125 · Quarterly mode · latest period FY2026 (Q1) (ending 2026-02-26) · sourced from SEC EDGAR

At a glance · FY2026 (Q1)

Revenue
$23.86B
↑+196.3% +$15.81Bvs FY2025 (Q1)
Operating Income
$16.14B
↑+810.0% +$14.36Bvs FY2025 (Q1)
Net Income
$13.79B
↑+770.8% +$12.20Bvs FY2025 (Q1)
Gross Profit
$17.75B
↑+499.2% +$14.79Bvs FY2025 (Q1)

Quality Score

Quality score

6-dimension fundamental snapshot · latest annual filed values · S&P 500 calibration

Strong
76/100
  • Profitability
    46ROIC 14.1% (10% = solid, 20%+ = moat)
  • Liquidity
    100Current Ratio 2.52 (above 1.5 = solid)
  • Leverage
    89D/E 0.21 (under 0.5 = conservative)
  • Efficiency
    22Asset Turnover 0.49x (1.0+ = capital-efficient)
  • Growth
    100Revenue YoY +196.3% (10% = solid, 25%+ = elite)
  • Margin Trend
    100Op Margin 67.6% · trend +25.8pts (4Q avg vs prior 4Q)

Calibrated to S&P 500 medians. Each sub-score is computed from a single CFA-grade ratio (Profitability = ROIC, Liquidity = Current Ratio, Leverage = D/E, Efficiency = Asset Turnover, Growth = Revenue YoY, Margin Trend = 4Q operating-margin avg vs prior 4Q). Overall = simple mean.

DCF intrinsic value

DCF intrinsic value

two-stage Gordon model

Project MU's free cash flow forward, discount back at your hurdle rate, divide by diluted shares. Edit the assumptions to see how sensitive the intrinsic value is.

3%

Trailing 3-yr CAGR was -18.8%

10%

10% is a common all-equity benchmark for US large-caps

2.5%

Should be ≤ long-run GDP growth (~2.5% nominal)

5

5-year explicit projection + perpetuity terminal

Intrinsic value per share
$20.70
Total enterprise IV
$23.29B
Diluted shares
1.13B
Terminal PV
$16.41B (70% of total)
Year-5 FCF
$1.93B
YearProjected FCFDiscounted PV
+1$1.72B$1.56B
+2$1.77B$1.46B
+3$1.82B$1.37B
+4$1.88B$1.28B
+5$1.93B$1.20B
Terminal$26.43B$16.41B

DCF outputs are HIGHLY sensitive to growth + WACC assumptions. A 1pp WACC change can shift IV by 20%+. Use this as a sanity-check vs market price, not a target — and always cross-check the underlying FCF source (EDGAR cashflow statement, latest annual). Margin of safety convention: 30-50% discount to IV before buying.

Capital allocation · trailing 4 quarters

how the company spent its cash
Capex (TTM)
$20.37B
investment in PP&E
Dividends paid (TTM)
$527M
cash returned to holders
Stock buybacks (TTM)
$650M
share count reduction
Stock-based comp (TTM)
$1.10B
non-cash dilution

Balance sheet · 2026-02-26

latest filed snapshot
Total assets
$101.51B
everything owned
Total liabilities
$29.05B
everything owed
Stockholders' equity
$72.46B
shareholder claim
Net debt
$-5.06B
Net cash position ($5.06B)

Recent performance · 68 quarters

Revenue↑+196.3% +$15.81B
$23.86B
Net Income↑+770.8% +$12.20B
$13.79B
Free Cash Flow↑+4981.4% +$5.63B
$5.52B
Operating Margin↑+45.6pts
67.6%

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