MICRON TECHNOLOGY INC (MU) Fundamental Analysis & Valuation

NASDAQ:MU • US5951121038

420.366 USD
+15.02 (+3.7%)
Last: Mar 13, 2026, 12:18 PM
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This MU fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

7

MU gets a fundamental rating of 7 out of 10. The analysis compared the fundamentals against 115 industry peers in the Semiconductors & Semiconductor Equipment industry. While MU belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. MU is growing strongly while it is still valued neutral. This is a good combination! This makes MU very considerable for growth investing!


Dividend Valuation Growth Profitability Health

8

1. MU Profitability Analysis

1.1 Basic Checks

  • MU had positive earnings in the past year.
  • MU had a positive operating cash flow in the past year.
  • Of the past 5 years MU 4 years were profitable.
  • Each year in the past 5 years MU had a positive operating cash flow.
MU Yearly Net Income VS EBIT VS OCF VS FCFMU Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5B -5B 10B 15B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 13.85%, MU belongs to the top of the industry, outperforming 86.09% of the companies in the same industry.
  • MU has a better Return On Equity (20.25%) than 88.70% of its industry peers.
  • MU's Return On Invested Capital of 14.22% is amongst the best of the industry. MU outperforms 87.83% of its industry peers.
Industry RankSector Rank
ROA 13.85%
ROE 20.25%
ROIC 14.22%
ROA(3y)0.79%
ROA(5y)5.08%
ROE(3y)1.42%
ROE(5y)7%
ROIC(3y)N/A
ROIC(5y)N/A
MU Yearly ROA, ROE, ROICMU Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 -10 20 30 40

1.3 Margins

  • Looking at the Profit Margin, with a value of 28.15%, MU belongs to the top of the industry, outperforming 86.09% of the companies in the same industry.
  • MU's Profit Margin has improved in the last couple of years.
  • With an excellent Operating Margin value of 32.68%, MU belongs to the best of the industry, outperforming 91.30% of the companies in the same industry.
  • In the last couple of years the Operating Margin of MU has grown nicely.
  • MU has a Gross Margin (45.31%) which is in line with its industry peers.
  • MU's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 32.68%
PM (TTM) 28.15%
GM 45.31%
OM growth 3Y-5.79%
OM growth 5Y13.08%
PM growth 3Y-6.83%
PM growth 5Y12.75%
GM growth 3Y-4.15%
GM growth 5Y5.42%
MU Yearly Profit, Operating, Gross MarginsMU Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 -20 40

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ROAROEROICOperating and Profit MarginShow most profitable peers

5

2. MU Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so MU is still creating some value.
  • MU has more shares outstanding than it did 1 year ago.
  • The number of shares outstanding for MU has been increased compared to 5 years ago.
  • The debt/assets ratio for MU has been reduced compared to a year ago.
MU Yearly Shares OutstandingMU Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M 1B
MU Yearly Total Debt VS Total AssetsMU Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20B 40B 60B 80B

2.2 Solvency

  • MU has an Altman-Z score of 12.21. This indicates that MU is financially healthy and has little risk of bankruptcy at the moment.
  • MU's Altman-Z score of 12.21 is fine compared to the rest of the industry. MU outperforms 74.78% of its industry peers.
  • MU has a debt to FCF ratio of 2.53. This is a good value and a sign of high solvency as MU would need 2.53 years to pay back of all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 2.53, MU is in the better half of the industry, outperforming 64.35% of the companies in the same industry.
  • MU has a Debt/Equity ratio of 0.19. This is a healthy value indicating a solid balance between debt and equity.
  • The Debt to Equity ratio of MU (0.19) is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.19
Debt/FCF 2.53
Altman-Z 12.21
ROIC/WACC1.26
WACC11.32%
MU Yearly LT Debt VS Equity VS FCFMU Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20B 40B

2.3 Liquidity

  • A Current Ratio of 2.46 indicates that MU has no problem at all paying its short term obligations.
  • MU has a Current ratio of 2.46. This is in the lower half of the industry: MU underperforms 60.00% of its industry peers.
  • MU has a Quick Ratio of 1.78. This is a normal value and indicates that MU is financially healthy and should not expect problems in meeting its short term obligations.
  • MU has a Quick ratio of 1.78. This is in the lower half of the industry: MU underperforms 64.35% of its industry peers.
Industry RankSector Rank
Current Ratio 2.46
Quick Ratio 1.78
MU Yearly Current Assets VS Current LiabilitesMU Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B 20B 25B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

8

3. MU Growth Analysis

3.1 Past

  • MU shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 181.30%, which is quite impressive.
  • MU shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 23.98% yearly.
  • Looking at the last year, MU shows a very strong growth in Revenue. The Revenue has grown by 45.43%.
  • Measured over the past years, MU shows a quite strong growth in Revenue. The Revenue has been growing by 11.76% on average per year.
EPS 1Y (TTM)181.3%
EPS 3Y-0.2%
EPS 5Y23.98%
EPS Q2Q%167.04%
Revenue 1Y (TTM)45.43%
Revenue growth 3Y6.71%
Revenue growth 5Y11.76%
Sales Q2Q%56.65%

3.2 Future

  • MU is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 19.31% yearly.
  • The Revenue is expected to grow by 17.91% on average over the next years. This is quite good.
EPS Next Y312.32%
EPS Next 2Y133.86%
EPS Next 3Y72.97%
EPS Next 5Y19.31%
Revenue Next Year105.75%
Revenue Next 2Y63.04%
Revenue Next 3Y40.31%
Revenue Next 5Y17.91%

3.3 Evolution

  • The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
MU Yearly Revenue VS EstimatesMU Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 20B 40B 60B 80B 100B
MU Yearly EPS VS EstimatesMU Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 10 20 30 40

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6

4. MU Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 37.27, which means the current valuation is very expensive for MU.
  • Compared to the rest of the industry, the Price/Earnings ratio of MU indicates a somewhat cheap valuation: MU is cheaper than 75.65% of the companies listed in the same industry.
  • When comparing the Price/Earnings ratio of MU to the average of the S&P500 Index (25.71), we can say MU is valued slightly more expensively.
  • MU is valuated reasonably with a Price/Forward Earnings ratio of 9.27.
  • 99.13% of the companies in the same industry are more expensive than MU, based on the Price/Forward Earnings ratio.
  • MU is valuated cheaply when we compare the Price/Forward Earnings ratio to 23.82, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 37.27
Fwd PE 9.27
MU Price Earnings VS Forward Price EarningsMU Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, MU is valued a bit cheaper than 78.26% of the companies in the same industry.
  • MU's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 101.7
EV/EBITDA 20.44
MU Per share dataMU EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40 50

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • MU has an outstanding profitability rating, which may justify a higher PE ratio.
  • MU's earnings are expected to grow with 72.97% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.12
PEG (5Y)1.55
EPS Next 2Y133.86%
EPS Next 3Y72.97%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. MU Dividend Analysis

5.1 Amount

  • With a yearly dividend of 0.11%, MU is not a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 0.49, MU pays a bit more dividend than its industry peers.
  • With a Dividend Yield of 0.11, MU pays less dividend than the S&P500 average, which is at 1.82.
Industry RankSector Rank
Dividend Yield 0.11%

5.2 History

  • The dividend of MU is nicely growing with an annual growth rate of 44.19%!
  • MU has been paying a dividend for at least 10 years, so it has a reliable track record.
  • MU has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)44.19%
Div Incr Years0
Div Non Decr Years3
MU Yearly Dividends per shareMU Yearly Dividends per shareYearly Dividends per share 2021 2022 2023 2024 2025 0.1 0.2 0.3 0.4

5.3 Sustainability

  • 4.41% of the earnings are spent on dividend by MU. This is a low number and sustainable payout ratio.
  • MU's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP4.41%
EPS Next 2Y133.86%
EPS Next 3Y72.97%
MU Yearly Income VS Free CF VS DividendMU Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5B -5B 10B
MU Dividend Payout.MU Dividend Payout, showing the Payout Ratio.MU Dividend Payout.PayoutRetained Earnings

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MU Fundamentals: All Metrics, Ratios and Statistics

MICRON TECHNOLOGY INC

NASDAQ:MU (3/13/2026, 12:18:10 PM)

420.366

+15.02 (+3.7%)

Chartmill FA Rating
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)12-17
Earnings (Next)03-18
Inst Owners82.91%
Inst Owner Change-1.33%
Ins Owners0.22%
Ins Owner Change2.51%
Market Cap473.13B
Revenue(TTM)42.31B
Net Income(TTM)11.91B
Analysts83.7
Price Target373.98 (-11.03%)
Short Float %2.75%
Short Ratio0.87
Dividend
Industry RankSector Rank
Dividend Yield 0.11%
Yearly Dividend0.47
Dividend Growth(5Y)44.19%
DP4.41%
Div Incr Years0
Div Non Decr Years3
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)10.12%
Min EPS beat(2)2.85%
Max EPS beat(2)17.39%
EPS beat(4)4
Avg EPS beat(4)10.61%
Min EPS beat(4)2.85%
Max EPS beat(4)17.39%
EPS beat(8)8
Avg EPS beat(8)40.89%
EPS beat(12)12
Avg EPS beat(12)32.69%
EPS beat(16)15
Avg EPS beat(16)13.99%
Revenue beat(2)1
Avg Revenue beat(2)0.51%
Min Revenue beat(2)-2.11%
Max Revenue beat(2)3.12%
Revenue beat(4)2
Avg Revenue beat(4)0.46%
Min Revenue beat(4)-2.11%
Max Revenue beat(4)3.12%
Revenue beat(8)3
Avg Revenue beat(8)0.28%
Revenue beat(12)3
Avg Revenue beat(12)-0.22%
Revenue beat(16)4
Avg Revenue beat(16)-0.74%
PT rev (1m)4.8%
PT rev (3m)68.2%
EPS NQ rev (1m)0.92%
EPS NQ rev (3m)107.59%
EPS NY rev (1m)0%
EPS NY rev (3m)94.51%
Revenue NQ rev (1m)0.5%
Revenue NQ rev (3m)43.61%
Revenue NY rev (1m)1.07%
Revenue NY rev (3m)39.6%
Valuation
Industry RankSector Rank
PE 37.27
Fwd PE 9.27
P/S 11.18
P/FCF 101.7
P/OCF 20.85
P/B 8.05
P/tB 8.27
EV/EBITDA 20.44
EPS(TTM)11.28
EY2.68%
EPS(NY)45.34
Fwd EY10.79%
FCF(TTM)4.13
FCFY0.98%
OCF(TTM)20.16
OCFY4.8%
SpS37.59
BVpS52.25
TBVpS50.81
PEG (NY)0.12
PEG (5Y)1.55
Graham Number115.16
Profitability
Industry RankSector Rank
ROA 13.85%
ROE 20.25%
ROCE 18.71%
ROIC 14.22%
ROICexc 16.52%
ROICexgc 16.95%
OM 32.68%
PM (TTM) 28.15%
GM 45.31%
FCFM 10.99%
ROA(3y)0.79%
ROA(5y)5.08%
ROE(3y)1.42%
ROE(5y)7%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3Y-6.53%
ROICexgc growth 5Y15.16%
ROICexc growth 3Y-6.3%
ROICexc growth 5Y15.49%
OM growth 3Y-5.79%
OM growth 5Y13.08%
PM growth 3Y-6.83%
PM growth 5Y12.75%
GM growth 3Y-4.15%
GM growth 5Y5.42%
F-Score7
Asset Turnover0.49
Health
Industry RankSector Rank
Debt/Equity 0.19
Debt/FCF 2.53
Debt/EBITDA 0.5
Cap/Depr 211.39%
Cap/Sales 42.64%
Interest Coverage 250
Cash Conversion 101.48%
Profit Quality 39.06%
Current Ratio 2.46
Quick Ratio 1.78
Altman-Z 12.21
F-Score7
WACC11.32%
ROIC/WACC1.26
Cap/Depr(3y)132.21%
Cap/Depr(5y)145.52%
Cap/Sales(3y)41.74%
Cap/Sales(5y)40.13%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)181.3%
EPS 3Y-0.2%
EPS 5Y23.98%
EPS Q2Q%167.04%
EPS Next Y312.32%
EPS Next 2Y133.86%
EPS Next 3Y72.97%
EPS Next 5Y19.31%
Revenue 1Y (TTM)45.43%
Revenue growth 3Y6.71%
Revenue growth 5Y11.76%
Sales Q2Q%56.65%
Revenue Next Year105.75%
Revenue Next 2Y63.04%
Revenue Next 3Y40.31%
Revenue Next 5Y17.91%
EBIT growth 1Y216.87%
EBIT growth 3Y0.54%
EBIT growth 5Y26.38%
EBIT Next Year454.34%
EBIT Next 3Y93.97%
EBIT Next 5Y34.79%
FCF growth 1Y192.93%
FCF growth 3Y-18.79%
FCF growth 5Y82.23%
OCF growth 1Y1025.04%
OCF growth 3Y4.9%
OCF growth 5Y16.11%

MICRON TECHNOLOGY INC / MU FAQ

What is the ChartMill fundamental rating of MICRON TECHNOLOGY INC (MU) stock?

ChartMill assigns a fundamental rating of 7 / 10 to MU.


Can you provide the valuation status for MICRON TECHNOLOGY INC?

ChartMill assigns a valuation rating of 6 / 10 to MICRON TECHNOLOGY INC (MU). This can be considered as Fairly Valued.


Can you provide the profitability details for MICRON TECHNOLOGY INC?

MICRON TECHNOLOGY INC (MU) has a profitability rating of 8 / 10.


Can you provide the expected EPS growth for MU stock?

The Earnings per Share (EPS) of MICRON TECHNOLOGY INC (MU) is expected to grow by 312.32% in the next year.


Can you provide the dividend sustainability for MU stock?

The dividend rating of MICRON TECHNOLOGY INC (MU) is 5 / 10 and the dividend payout ratio is 4.41%.