Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

Micron Technology

MU stock analysis · Information Technology · Semiconductors

FY 2025-08-28ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$1,154.29HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$1.3T

Price × SEC outstanding shares. Shares measured 2026-06-17. Approximate; share and price dates can differ.

View share-count filing ↗
Valuation

DCF value

$22.43

Equity cash-flow scenario · SEC outstanding shares at 2026-06-17 · -98.1% versus input cap

How this is calculated ↗
Valuation

Reverse DCF

No solution in −50% to +100% growth, or nonpositive FCF / invalid assumptions.

No solution in −50% to +100% growth, or nonpositive FCF / invalid assumptions.

How this is calculated ↗
Valuation

Relative valuation

-54.2%

12 industry peers · median 69.9×

How this is calculated ↗
Valuation

Historical multiples

34.4×

6 annual observations · snapshot P/E 152.7× · 343.3% versus history

How this is calculated ↗
Valuation

Free cash flow yield

0.1%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

14.6%

Normalized tax · financing-capital proxy · parent-equity fallback (scope limitation) · short-term borrowing coverage incomplete

How this is calculated ↗
Valuation

Value composite

17/100

Annual basis · read assumptions below

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

19.3%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

Requires reported dividends, repurchases and issuance; missing values are not zero.

Requires reported dividends, repurchases and issuance; missing values are not zero.

How this is calculated ↗
Quality

Accrual quality

-11.8%

Parent-earnings fallback versus consolidated cash flow · scope limitation

How this is calculated ↗
Momentum

Fundamental momentum

27.6%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 17.5B2020-09-03: cfo $8,306,000,000.002020-09-03: capex $8,223,000,000.0020202021-09-02: cfo $12,468,000,000.002021-09-02: capex $10,030,000,000.0020212022-09-01: cfo $15,181,000,000.002022-09-01: capex $12,067,000,000.0020222023-08-31: cfo $1,559,000,000.002023-08-31: capex $7,676,000,000.0020232024-08-29: cfo $8,507,000,000.002024-08-29: capex $8,386,000,000.0020242025-08-28: cfo $17,525,000,000.002025-08-28: capex $15,857,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%$28.14$30.70$33.46
10.0%$20.62$22.43$24.38
12.0%$16.27$17.65$19.13

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-08-2837.4B8.5B17.5B15.9B82.8B
2024-08-2925.1B778M8.5B8.4B69.4B
2023-08-3115.5B-5.8B1.6B7.7B64.3B
2022-09-0130.8B8.7B15.2B12.1B66.3B
2021-09-0227.7B5.9B12.5B10B58.8B
2020-09-0321.4B2.7B8.3B8.2B53.7B
2019-08-2923.4B6.4B13.2B9.8B48.9B
2018-08-3030.4B14.1B17.4B8.9B43.4B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue37.4BRevenueFromContractWithCustomerExcludingAssessedTax2025-10-03
netIncome8.5BNetIncomeLoss
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2025-10-03
Parent/common earnings proxy8.5BNetIncomeLoss2025-10-03
cfo17.5BNetCashProvidedByUsedInOperatingActivities2025-10-03
capex15.9BPaymentsToAcquirePropertyPlantAndEquipment2025-10-03
operatingIncome9.8BOperatingIncomeLoss2025-10-03
assets82.8BAssets2025-10-03
equity54.2BStockholdersEquity
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2025-10-03
Parent book equity proxy54.2BStockholdersEquity2025-10-03
debt11.5BLongTermDebt2025-10-03
shortDebtNot reported under a supported tag
cash9.6BCashAndCashEquivalentsAtCarryingValue2025-10-03
shares1.1BWeightedAverageNumberOfDilutedSharesOutstanding2025-10-03
dividends522MPaymentsOfDividendsCommonStock2025-10-03
buybacks0PaymentsForRepurchaseOfCommonStock2025-10-03
issuanceNot reported under a supported tag