Micron Technology (MU) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Micron Technology

NasdaqGS•Technology•Semiconductors

$855.10+21.51(0.03%)After hours

Market Cap

$941.12B

P/E

11.1x

P/S

7.1x

P/B

6.8x

Micron Technology, Inc. engages in the provision of semiconductor memory and storage products in the United States, Taiwan, Mainland China, other Asia Pacific countries, Japan, Europe, and internationally. It operates through Cloud Memory Business Unit, Core Data Center Business Unit, Mobile and Client Business Unit, and Automotive and Embedded Business Unit segments. The company provides dynamic random access memory (DRAM) products, including High-Bandwidth Memory, doublie data rate, low-power DRAM, and graphics DRAM products; NAND products comprising solid state drives, managed NAND, and multi-chip packages; and NOR products. The company sells its products under the Micron brand name and private labels through its own direct sales force, sales or representative offices, as well as through distributors, retailers, and independent sales representatives. Micron Technology, Inc. was founded in 1978 and is headquartered in Boise, Idaho.

How this company scores

ExcellentMetricSide Score: 90/100

Strongest: Profitability (25/25); weakest: Cash & Earnings Quality (20/25).

Profitability25/25

Growth24/25

Balance Sheet & Red Flags21/25

Cash & Earnings Quality20/25

Strengths

Growing revenueRising free cash flowStrong marginsHigh ROE

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 11.1x5y range 7.1x – 135.2x

Currently below its 15-quarter median.

P/S · 7.1x5y range 2.0x – 11.6x

Currently above its 20-quarter median.

P/B · 6.8x5y range 1.2x – 10.4x

Currently above its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Earnings Quality

Red Flag

FCF consistently trails net income (avg 0.4x) — earnings may be inflated by non-cash items or aggressive accounting.

Price & Volume

Market Cap $941.12B

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $133.19B
Q. Revenue: $54.23B
TTM EBITDA: $108.84B
TTM Op. Income: $99.34B
Q. Op. Income: $43.75B
TTM Net Income: $84.97B
Q. Net Income: $37.70B
EPS: $33.393
Shares Out.: $1.13B

$133.19B in TTM revenue grew 256.3% YoY, reaching $54.23B last quarter. TTM EBITDA of $108.84B and TTM operating income of $99.34B show growth is flowing through to the bottom line. TTM net income of $84.97B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 86.8%
EBITDA Margin: 85.5%
Op. Margin: 80.7%
Net Margin: 69.5%

Op. margin of 80.7% is up 48.4% YoY — cost efficiency is improving. Net margin at 69.5% and gross margin of 86.8% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 6 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 11.1x
P/S Ratio: 7.1x
P/B Ratio: 6.8x

At 11.1x P/E, the stock trades below typical market levels. P/S of 7.1x and P/B of 6.8x provide additional context. P/E sits below typical market levels while revenue is growing. Over the past year, P/E is down 28% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $195.89B
Cash: $38.36B
Long-Term Debt: $2.79B
Book Value: $138.38B
D/E Ratio: 0.0
Debt/EBITDA: 0.1

With $195.89B in assets and $2.79B in long-term debt, D/E is 0.0and book value is $138.38B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 5 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $43.97B
TTM Free Cash Flow: $58.96B
FCF Margin: 44.3%
FCF / Net Income: 0.7

TTM FCF of $58.96B on $43.97B in operating cash flow. The FCF / Net Income ratio of 0.7x means cash covers only part of net income — earnings quality needs attention. Across the last 8 quarters, free cash flow has risen for 4 consecutive quarters — an improving trend.