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

$1,015.80+38.30(0.04%)After hours

Market Cap

$1.10T

P/E

21.8x

P/S

12.2x

P/B

10.9x

Micron Technology, Inc. designs, develops, manufactures, and sells memory and storage products in the United States, Taiwan, Japan, Mainland China, Hong Kong, Europe, and internationally. It operates through the Cloud Memory Business Unit; Core Data Center Business Unit; Mobile and Client Business Unit; and Automotive and Embedded Business Unit segments. The company provides memory products, including dynamic random access memory components and modules, CXL-based memory, LPDDR components and modules, graphics memory, high-bandwidth memory, and data center memory products; multichip packages (MCP) comprising embedded multimedia card-based, universal flash storage-based, and NAND-based MCPs; and technology leadership products that include 1y DRAM and G9 NAND technologies. It also offers storage products, such as data center solid-state drives (SSD), client SSD storage, and auto and industrial SSD storage; managed NAND; NAND flash; NOR flash; and memory cards. In addition, the company provides design tools, including FBGA and part decoders; DRAM power calculators; NAND power calculators; simulation models; chipset compatibility guides; serial presence-detection tools; cross-reference tools; UFSparm; SSD firmware; software and drivers; storage executive software; and obsolete part catalogs. It markets its semiconductor memory and storage products under the Micron and Crucial brands. The company serves the data center, PC, graphics, networking, automotive, industrial, and consumer embedded markets, as well as the smartphone and other mobile-device markets. It sells its products through its direct sales force, independent sales representatives, distributors, and retailers; web-based customer direct sales channel; and channel and distribution partners. Micron Technology, Inc. was founded in 1978 and is headquartered in Boise, Idaho.

How this company scores

ExcellentMetricSide Score: 88/100

Strongest: Profitability (25/25); weakest: Cash & Earnings Quality (18/25).

Profitability25/25

Growth24/25

Balance Sheet & Red Flags21/25

Cash & Earnings Quality18/25

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 · 21.8x5y range 7.1x – 135.2x

Currently above its 15-quarter median.

P/S · 12.2x5y range 2.0x – 12.2x

Currently above its 20-quarter median.

P/B · 10.9x5y range 1.2x – 10.9x

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 0.3x) — earnings may be inflated by non-cash items or aggressive accounting.

Price & Volume

Market Cap $1.10T

Metrics at a Glance

as of May 2026

Revenue & Profit

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

TTM Revenue: $90.27B
Q. Revenue: $41.46B
TTM EBITDA: $72.43B
TTM Op. Income: $59.24B
Q. Op. Income: $33.32B
TTM Net Income: $50.47B
Q. Net Income: $28.24B
EPS: $25.03
Shares Out.: $1.13B

$90.27B in TTM revenue grew 167.0% YoY, reaching $41.46B last quarter. TTM EBITDA of $72.43B and TTM operating income of $59.24B show growth is flowing through to the bottom line. TTM net income of $50.47B 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: 84.6%
EBITDA Margin: 86.1%
Op. Margin: 80.4%
Net Margin: 68.1%

Op. margin of 80.4% is up 57.0% YoY — cost efficiency is improving. Net margin at 68.1% and gross margin of 84.6% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 5 consecutive quarters — an improving trend.

Price Ratios

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

P/E Ratio: 21.8x
P/S Ratio: 12.2x
P/B Ratio: 10.9x

At 21.8x P/E, the stock trades within typical market levels. P/S of 12.2x and P/B of 10.9x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is up 26% — a weakening trend.

Assets & Liabilities

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

Total Assets: $134.11B
Cash: $25.00B
Long-Term Debt: $5.14B
Book Value: $100.72B
D/E Ratio: 0.1
Debt/EBITDA: 0.1

With $134.11B in assets and $5.14B in long-term debt, D/E is 0.1and book value is $100.72B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 4 consecutive quarters — an improving trend.

Cash Flow

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

Op. Cash Flow: $25.39B
TTM Free Cash Flow: $26.17B
FCF Margin: 29.0%
FCF / Net Income: 0.5

TTM FCF of $26.17B on $25.39B in operating cash flow. The FCF / Net Income ratio of 0.5x means cash covers only part of net income — earnings quality needs attention. Across the last 8 quarters, free cash flow has risen for 3 consecutive quarters — an improving trend.