MUNasdaqSemiconductors & Related DevicesFiscal year ends September 3
MICRON TECHNOLOGY INC
Financials through Q4 FY2026, quarter ended Sep 3, 2026Last filing: 10-K on Oct 9, 2026
$904.90+26.06 (+2.97%)
Close on Oct 19, 2026
- Market cap
- $1.04T
- P/E (TTM)
- 12.2
- Dividend yield
- 0.06%
Margins
Share of revenue, fiscal years 2012 to 2026
Gross margin
80.7%+43.1 pts over 5 years
Operating margin
74.6%+51.9 pts over 5 years
Net margin
63.8%+42.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +256.3% | +104.6% | +36.9% | +26.8% | |
| Gross profit | +622.8% | – | +59.5% | +45.6% | |
| Operating income | +916.8% | – | +73.7% | +89.3% | |
| Net income | +895.1% | – | +70.7% | – | |
| EPS, diluted | +879.3% | – | +70.6% | – | |
| Free cash flow | +3435.0% | – | +89.1% | – | |
| Dividend per share | +15.2% | +4.8% | +39.6% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | 33.2% | 14.1% | 88.3% | |
| Return on assets | 16.2% | 10.4% | 61.0% | |
| Current ratio | 2.34 | 3.10 | 3.31 | |
| Debt to equity | 0.60 | 0.15 | 0.04 | |
| Net debt to EBITDA | 0.61× | -0.08× | -0.30× | |
| Interest coverage | 9.8× | 34.3× | 937.2× | |
| Inventory turnover | 4.0× | 3.5× | 2.7× | |
| Capex to revenue | 23.3% | 36.2% | 23.1% | |
| Diluted shares | 1.15B | 1.14B | 1.14B |
Where the cash went
Fiscal 2022 to 2026, five years combined
Micron Technology generated $132.45B from operations and spent $81.12B on capital expenditure, dividends and share buybacks. 92% of that went back into the business.
Generated
$132.45B
Used
$81.12B
Capital expenditure$74.70B92%Dividends$2.61B3%Share buybacks$3.81B5%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin63.8%
×Asset turnover0.96×
×Equity multiplier1.45×
=Return on equity, FY202688.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | 63.8% | 0.96× | 1.45× | 88.3% |
| FY2025 | 22.8% | 0.49× | 1.53× | 17.2% |
| FY2024 | 3.1% | 0.38× | 1.50× | 1.7% |
| FY2023 | -37.5% | 0.24× | 1.39× | -12.4% |
| FY2022 | 28.2% | 0.49× | 1.33× | 18.5% |
| FY2021 | 21.2% | 0.49× | 1.36× | 14.1% |
| FY2020 | 12.5% | 0.42× | 1.37× | 7.2% |
| FY2019 | 27.0% | 0.51× | 1.35× | 18.5% |
| FY2018 | 46.5% | 0.77× | 1.55× | 55.5% |
| FY2017 | 25.0% | 0.65× | 2.05× | 33.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
8of 9 tests passed in fiscal 2026. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$84.97B
- Cash generatingOperating cash flow above zero$89.68B
- Return on assets improvedROA up on the prior year12.3% → 102.6%
- Earnings backed by cashOperating cash flow above net income$89.68B vs $84.97B
- Less leverageLong-term debt to assets fell16.9% → 2.4%
- Better liquidityCurrent ratio rose2.52 → 3.31
- No dilutionShare count did not rise1.13B → 1.14B
- Gross margin improvedGross margin up on the prior year39.79% → 80.72%
- More efficientAsset turnover rose0.54 → 1.61