# Micron Technology Inc. (MU) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Technology / Semiconductors & Semiconductor Equipment. Price $1016.59, market value $1.15 trillion.

## Valuation
- **P/E (trailing): 23.0×** (5-yr avg 43.3×, 3-yr avg 75.9×). Micron Technology Inc. trades at 23.0× trailing earnings, well below its own five-year average of 43.3×: cheap by its own standards. The Technology median in the September 2026 study was 32.1×. Forward P/E is 6.6×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.01**. A PEG of 0.01 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 12.7×**. Each dollar of revenue is priced at 12.7×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 11.4×**. The shares trade at 11.4× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **EV / EBITDA: 16.9×**. Enterprise value is 16.9× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 2.3%** (5-yr avg 0.2%). Free cash flow equals 2.3% of the market value, above its five-year average of 0.2%, so the shares are cheaper on cash than they have usually been.
- **Earnings yield: 4.3%**. The inverse of the P/E: 4.3% of the price is earned each year.

## Profitability
- **Gross margin: 72.6%**. Micron Technology Inc. keeps 72.6% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 65.6%**. 65.6% of revenue is left after running the business, an exceptional level.
- **Net margin: 22.8%**. 22.8% of each dollar of sales reaches the bottom line.
- **Return on equity: 15.8%**. 15.8% on shareholders' equity is solid.
- **Return on invested capital: 82.7%**. Return on all capital, debt included, is 82.7%: comfortably above what that capital costs.
- **Return on assets: 61.0%**. Each dollar of assets produces 61.0% of profit.

## Growth
- **Revenue growth (1 yr): 48.9%** (3-yr 6.7%/yr, 5-yr 11.8%/yr). Revenue grew 48.9% over the last year, against 11.8% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 984.3%** (3-yr -0.7%/yr, 5-yr 26.2%/yr). Earnings per share rose 984.3%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): -18.8%/yr**. Free cash flow has compounded at -18.8% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Debt to equity: 0.22**. Debt is 0.22 times equity: a conservative balance sheet.
- **Net debt / EBITDA: 0.0×**. It would take 0.0 years of operating earnings to repay net borrowings, within the comfortable range.
- **Altman Z-score: 25.82**. A Z-score of 25.82 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 7/9**. 7 of 9 fundamental checks pass: strong and improving financials.

## Dividends
- **Dividend yield: 0.05%** ($0.53 per share, trailing). Micron Technology Inc. yields 0.05%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 6%** (2% of free cash flow). 6% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 5**. 5 straight years of increases.

## Analyst view
- **Analyst consensus: strong_buy** (45 analysts). 45 analysts cover Micron Technology Inc.; the consensus is strong_buy, with an average price target of $1513.11 (+49% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 719.8%** (YTD 256.4%, 3-mo 17.7%). The shares are up 719.8% over twelve months including dividends.
- **From 52-week high: -19.0%** (672.7% above the low). Trading 19% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 60**. An RSI of 60 is neutral.
- **Beta (1 yr): 3.28** (volatility 81%). Beta of 3.28 against the S&P 500: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=MU · Page: https://foliofundamentals.com/stocks/mu

Not investment advice.