Micron Technology (MU) Financials

$206.77 +4.39 (+2.17%)

Closing price 10/20/2025 04:00 PM Eastern

Extended Trading

$207.98 +1.21 (+0.58%)

As of 10/20/2025 08:00 PM Eastern

Annual Income Statements for Micron Technology

This table shows Micron Technology's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/3/2015	9/1/2016	8/31/2017	8/30/2018	8/29/2019	9/3/2020	9/2/2021	9/1/2022	8/31/2023	8/29/2024	8/28/2025
Net Income / (Loss) Attributable to Common Shareholders	2,899	-276	5,089	14,135	6,313	2,687	5,861	8,687	-5,833	778	8,539
Consolidated Net Income / (Loss)	2,899	-275	5,090	14,138	6,358	2,710	5,861	8,687	-5,833	778	8,539
Net Income / (Loss) Continuing Operations	2,899	-275	5,090	14,138	6,358	2,710	5,861	8,687	-5,833	778	8,539
Total Pre-Tax Income	2,609	-281	5,196	14,307	7,048	2,983	6,218	9,571	-5,658	1,240	9,654
Total Operating Income	2,998	168	5,868	14,994	7,376	3,003	6,283	9,702	-5,745	1,304	9,770
Total Gross Profit	5,215	2,505	8,436	17,891	10,702	6,552	10,423	13,898	-1,416	5,613	14,873
Total Revenue	16,192	12,399	20,322	30,391	23,406	21,435	27,705	30,758	15,540	25,111	37,378
Operating Revenue	16,192	12,399	20,322	30,391	23,406	21,435	27,705	30,758	15,540	25,111	37,378
Total Cost of Revenue	10,977	9,894	11,886	12,500	12,704	14,883	17,282	16,860	16,956	19,498	22,505
Operating Cost of Revenue	10,977	9,894	11,886	12,500	12,704	14,883	17,282	16,860	16,956	19,498	22,505
Total Operating Expenses	2,217	2,337	2,568	2,897	3,326	3,549	4,140	4,196	4,329	4,309	5,103
Selling, General & Admin Expense	719	659	743	813	836	881	894	1,066	920	1,129	1,205
Research & Development Expense	1,540	1,617	1,824	2,141	2,441	2,600	2,663	3,116	3,114	3,430	3,798
Other Operating Expenses / (Income)	-45	61	1.00	-57	78	8.00	95	-34	124	-251	61
Restructuring Charge	3.00	-	-	-	-29	60	488	48	171	1.00	39
Total Other Income / (Expense), net	-389	-449	-672	-687	-328	-20	-65	-131	87	-64	-116
Interest Expense	371	437	601	342	128	194	183	189	388	562	477
Interest & Investment Income	35	42	41	120	205	114	37	96	468	529	496
Other Income / (Expense), net	-53	-54	-112	-465	-405	60	81	-38	7.00	-31	-135
Income Tax Expense	157	19	114	168	693	280	394	888	177	451	1,124
Other Gains / (Losses), net	447	25	8.00	-1.00	3.00	7.00	37	4.00	2.00	-11	9.00
Basic Earnings per Share	$2.71	($0.27)	$4.67	$12.27	$5.67	$2.42	$5.23	$7.81	($5.34)	$0.70	$7.65
Weighted Average Basic Shares Outstanding	1.07B	1.04B	1.09B	1.15B	1.11B	1.11B	1.12B	1.11B	1.09B	1.11B	1.12B
Diluted Earnings per Share	$2.47	($0.27)	$4.41	$11.51	$5.51	$2.37	$5.14	$7.75	($5.34)	$0.70	$7.59
Weighted Average Diluted Shares Outstanding	1.17B	1.04B	1.15B	1.23B	1.14B	1.13B	1.14B	1.12B	1.09B	1.12B	1.13B
Weighted Average Basic & Diluted Shares Outstanding	1.07B	1.02B	1.09B	1.15B	1.11B	1.11B	1.12B	1.09B	1.10B	1.11B	1.12B

This table shows Micron Technology's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	3/2/2023	6/1/2023	8/31/2023	11/30/2023	2/29/2024	5/30/2024	8/29/2024	11/28/2024	2/27/2025	5/29/2025	8/28/2025
Net Income / (Loss) Attributable to Common Shareholders	-2,312	-1,896	-1,430	-1,234	793	332	887	1,870	1,583	1,885	3,201
Consolidated Net Income / (Loss)	-2,312	-1,896	-1,430	-1,234	793	332	887	1,870	1,583	1,885	3,201
Net Income / (Loss) Continuing Operations	-2,312	-1,896	-1,430	-1,234	793	332	887	1,870	1,583	1,885	3,201
Total Pre-Tax Income	-2,271	-1,753	-1,458	-1,155	170	715	1,510	2,152	1,758	2,113	3,631
Total Operating Income	-2,303	-1,761	-1,472	-1,128	191	719	1,522	2,174	1,773	2,169	3,654
Total Gross Profit	-1,206	-668	-435	-35	1,079	1,832	2,737	3,348	2,963	3,508	5,054
Total Revenue	3,693	3,752	4,010	4,726	5,824	6,811	7,750	8,709	8,053	9,301	11,315
Operating Revenue	3,693	3,752	4,010	4,726	5,824	6,811	7,750	8,709	8,053	9,301	11,315
Total Cost of Revenue	4,899	4,420	4,445	4,761	4,745	4,979	5,013	5,361	5,090	5,793	6,261
Operating Cost of Revenue	4,899	4,420	4,445	4,761	4,745	4,979	5,013	5,361	5,090	5,793	6,261
Total Operating Expenses	1,097	1,093	1,037	1,093	888	1,113	1,215	1,174	1,190	1,339	1,400
Selling, General & Admin Expense	231	219	219	263	280	291	295	288	285	318	314
Research & Development Expense	788	758	719	845	832	850	903	888	898	965	1,047
Total Other Income / (Expense), net	32	8.00	14	-27	-21	-4.00	-12	-22	-15	-56	-23
Interest Expense	89	119	129	132	144	150	136	118	112	123	124
Interest & Investment Income	119	127	134	132	130	136	131	107	108	135	146
Other Income / (Expense), net	2.00	0.00	9.00	-27	-7.00	10	-7.00	-11	-11	-68	-45
Income Tax Expense	54	139	-24	73	-622	377	623	283	177	235	429
Other Gains / (Losses), net	13	-4.00	4.00	-6.00	1.00	-6.00	-	1.00	2.00	7.00	-1.00
Basic Earnings per Share	($2.12)	($1.73)	($1.31)	($1.12)	$0.72	$0.30	$0.80	$1.68	$1.42	$1.69	$2.86
Weighted Average Basic Shares Outstanding	1.09B	1.09B	1.09B	1.10B	1.10B	1.11B	1.11B	1.11B	1.12B	1.12B	1.12B
Diluted Earnings per Share	($2.12)	($1.73)	($1.31)	($1.12)	$0.71	$0.30	$0.81	$1.67	$1.41	$1.68	$2.83
Weighted Average Diluted Shares Outstanding	1.09B	1.09B	1.09B	1.10B	1.11B	1.12B	1.12B	1.12B	1.12B	1.13B	1.13B
Weighted Average Basic & Diluted Shares Outstanding	1.09B	1.10B	1.10B	1.10B	1.11B	1.11B	1.11B	1.11B	1.12B	1.12B	1.12B

This table details how cash moves in and out of Micron Technology's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/3/2015	9/1/2016	8/31/2017	8/30/2018	8/29/2019	9/3/2020	9/2/2021	9/1/2022	8/31/2023	8/29/2024	8/28/2025
Net Change in Cash & Equivalents	-1,859	1,888	965	1,408	692	411	139	510	317	-1,604	2,594
Net Cash From Operating Activities	5,208	3,168	8,153	17,400	13,189	8,306	12,468	15,181	1,559	8,507	17,525
Net Cash From Continuing Operating Activities	5,208	3,168	8,153	17,400	13,189	8,306	12,468	15,181	1,559	8,507	17,525
Net Income / (Loss) Continuing Operations	2,899	-275	5,090	14,138	6,358	2,710	5,861	8,687	-5,833	778	8,539
Consolidated Net Income / (Loss)	2,899	-275	5,090	14,138	6,358	2,710	5,861	8,687	-5,833	778	8,539
Depreciation Expense	2,667	2,980	3,861	4,759	5,424	5,650	6,214	7,116	7,756	7,780	8,352
Non-Cash Adjustments To Reconcile Net Income	-230	195	-118	583	542	328	833	514	2,528	833	972
Changes in Operating Assets and Liabilities, net	-266	142	-805	-2,181	816	-382	-440	-1,136	-2,892	-884	-338
Net Cash From Investing Activities	-6,216	-3,044	-7,537	-8,216	-10,085	-7,589	-10,589	-11,585	-6,191	-8,309	-14,087
Net Cash From Continuing Investing Activities	-6,216	-3,044	-7,537	-8,216	-10,085	-7,589	-10,589	-11,585	-6,191	-8,309	-14,087
Purchase of Property, Plant & Equipment	-4,021	-5,817	-4,734	-8,879	-9,780	-8,223	-10,030	-12,067	-7,676	-8,386	-15,857
Purchase of Investments	-4,524	-1,178	-1,239	-760	-4,218	-1,857	-3,163	-1,770	-723	-1,999	-1,890
Sale and/or Maturity of Investments	2,248	3,690	970	924	3,045	2,272	2,106	1,615	1,591	1,794	1,698
Other Investing Activities, net	81	261	100	499	868	219	498	-251	617	282	1,962
Net Cash From Financing Activities	-718	1,745	349	-7,776	-2,438	-317	-1,781	-2,980	4,983	-1,842	-850
Net Cash From Continuing Financing Activities	-718	1,745	349	-7,776	-2,438	-317	-1,781	-2,980	4,983	-1,842	-850
Repayment of Debt	-2,316	-1,221	-2,558	-10,194	-3,340	-4,259	-1,474	-1,946	-666	-1,879	-4,758
Repurchase of Common Equity	-884	-	-36	-71	-2,729	-176	-1,200	-2,432	-425	-300	0.00
Payment of Dividends	-	-	-	0.00	0.00	-744	0.00	-461	-504	-513	-522
Issuance of Debt	2,212	2,199	3,320	1,040	3,706	5,000	1,188	2,000	6,716	999	4,430
Other Financing Activities, net	270	719	-519	-206	-75	-138	-295	-141	-138	-149	0.00
Effect of Exchange Rate Changes	-133	19	-	-	26	11	41	-106	-34	40	6.00
Cash Interest Paid	226	267	468	312	53	165	171	154	323	503	418
Cash Income Taxes Paid	63	90	99	226	524	167	361	493	532	338	583

This table details how cash moves in and out of Micron Technology's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	3/2/2023	6/1/2023	8/31/2023	11/30/2023	2/29/2024	5/30/2024	8/29/2024	11/28/2024	2/27/2025	5/29/2025	8/28/2025
Net Change in Cash & Equivalents	245	-517	-714	-510	-45	-437	-612	-355	866	2,606	-523
Net Cash From Operating Activities	343	24	249	1,401	1,219	2,482	3,405	3,244	3,942	4,609	5,730
Net Cash From Continuing Operating Activities	343	24	249	1,401	1,219	2,482	3,405	3,244	3,942	4,609	5,730
Net Income / (Loss) Continuing Operations	-2,312	-1,896	-1,430	-1,234	793	332	887	1,870	1,583	1,885	3,201
Consolidated Net Income / (Loss)	-2,312	-1,896	-1,430	-1,234	793	332	887	1,870	1,583	1,885	3,201
Depreciation Expense	1,942	1,956	1,937	1,915	1,924	1,955	1,986	2,030	2,079	2,094	2,149
Non-Cash Adjustments To Reconcile Net Income	1,587	546	249	188	213	219	213	220	249	253	250
Changes in Operating Assets and Liabilities, net	-874	-582	-507	532	-1,711	-24	319	-876	31	377	130
Net Cash From Investing Activities	-1,915	-1,180	-830	-1,558	-1,151	-2,002	-3,598	-3,148	-3,152	-2,589	-5,198
Net Cash From Continuing Investing Activities	-1,915	-1,180	-830	-1,558	-1,151	-2,002	-3,598	-3,148	-3,152	-2,589	-5,198
Purchase of Property, Plant & Equipment	-2,205	-1,561	-1,461	-1,796	-1,384	-2,086	-3,120	-3,206	-4,055	-2,938	-5,658
Purchase of Investments	-203	-203	-227	-199	-266	-645	-889	-377	-439	-387	-687
Sale and/or Maturity of Investments	411	419	399	374	352	707	361	428	446	375	449
Other Investing Activities, net	82	165	459	63	147	22	50	7.00	896	361	698
Net Cash From Financing Activities	1,802	661	-112	-352	-106	-910	-474	-422	96	540	-1,064
Net Cash From Continuing Financing Activities	1,802	661	-112	-352	-106	-910	-474	-422	96	540	-1,064
Repayment of Debt	85	-672	40	-167	-952	-737	-23	-291	-2,456	-1,077	-934
Payment of Dividends	-126	-126	-126	-129	-127	-128	-129	-131	-130	-131	-130
Effect of Exchange Rate Changes	15	-22	-21	-1.00	-7.00	-7.00	-	-29	-20	46	9.00

This table presents Micron Technology's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/3/2015	9/1/2016	8/31/2017	8/30/2018	8/29/2019	9/3/2020	9/2/2021	9/1/2022	8/31/2023	8/29/2024	8/28/2025
Total Assets	24,143	27,540	35,336	43,376	48,887	53,678	58,849	66,283	64,254	69,416	82,798
Total Current Assets	8,596	9,495	12,457	16,039	16,503	17,965	19,907	21,781	21,244	24,372	28,841
Cash & Equivalents	2,287	4,140	5,109	6,506	7,152	7,624	7,763	8,262	8,577	7,041	9,642
Short-Term Investments	1,234	258	319	296	803	518	870	1,069	1,017	1,065	665
Accounts Receivable	2,507	2,068	3,759	5,478	3,195	3,912	5,311	5,130	2,443	6,615	9,265
Inventories, net	2,340	2,889	3,123	3,595	5,118	5,373	4,487	6,663	8,387	8,875	8,355
Other Current Assets	228	140	147	164	235	538	502	657	820	776	914
Plant, Property, & Equipment, net	10,554	14,686	19,431	23,672	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	4,993	3,359	3,448	3,665	32,384	35,713	38,942	44,502	43,010	45,044	53,957
Long-Term Investments	3,492	1,778	617	473	1,164	1,048	1,765	1,647	844	1,046	1,629
Goodwill	-	104	1,228	1,228	1,228	1,228	1,228	1,228	1,150	1,150	1,150
Intangible Assets	449	464	387	331	340	334	349	421	404	416	453
Noncurrent Deferred & Refundable Income Taxes	597	657	766	1,022	837	707	782	702	756	520	616
Other Noncurrent Operating Assets	455	356	450	611	28,815	32,396	34,818	40,504	39,856	41,912	50,109
Total Liabilities & Shareholders' Equity	24,143	27,540	35,336	43,376	48,887	53,678	58,849	66,283	64,254	69,416	82,798
Total Liabilities	10,855	14,612	15,845	10,112	12,019	14,682	14,916	16,376	20,134	24,285	28,633
Total Current Liabilities	3,905	4,835	5,334	5,754	6,390	6,635	6,424	7,539	4,765	9,248	11,454
Short-Term Debt	1,089	756	1,262	859	1,310	270	155	103	278	431	560
Accounts Payable	2,611	3,879	3,664	4,374	4,626	5,817	5,325	6,090	3,958	7,299	9,649
Other Current Liabilities	-	-	-	521	454	548	944	1,346	529	1,518	1,245
Total Noncurrent Liabilities	6,950	9,777	10,511	4,358	5,629	8,047	8,492	8,837	15,369	15,037	17,179
Long-Term Debt	6,252	9,154	9,872	3,777	4,541	6,373	6,621	6,803	13,052	12,966	14,017
Other Noncurrent Operating Liabilities	698	623	639	581	1,088	1,674	1,871	2,034	2,317	2,071	3,162
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	13,239	12,928	19,470	33,164	36,770	38,996	43,933	49,907	44,120	45,131	54,165
Total Preferred & Common Equity	12,302	12,080	18,621	32,294	35,881	38,996	43,933	49,907	44,120	45,131	54,165
Total Common Equity	12,302	12,080	18,621	32,294	35,881	38,996	43,933	49,907	44,120	45,131	54,165
Common Stock	7,582	7,845	8,399	8,318	8,332	9,036	9,575	10,320	11,160	12,240	13,466
Retained Earnings	5,588	5,299	10,260	24,395	30,761	33,384	39,051	47,274	40,824	40,877	48,583
Treasury Stock	-881	-1,029	-67	-429	-3,221	-3,495	-4,695	-	-7,552	-7,852	-7,852
Accumulated Other Comprehensive Income / (Loss)	13	-35	29	10	9.00	71	2.00	-560	-312	-134	-32

This table presents Micron Technology's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	12/1/2022	3/2/2023	6/1/2023	8/31/2023	11/30/2023	2/29/2024	5/30/2024	8/29/2024	11/28/2024	2/27/2025	5/29/2025
Total Assets	67,874	66,520	65,680	64,254	63,776	65,718	66,255	69,416	71,461	73,053	78,397
Total Current Assets	22,921	21,898	21,734	21,244	21,058	23,435	23,319	24,372	24,493	24,689	27,919
Cash & Equivalents	9,574	9,798	9,298	8,577	8,075	8,016	7,594	7,041	6,693	7,552	10,163
Short-Term Investments	1,007	1,020	1,054	1,017	973	990	785	1,065	895	663	648
Accounts Receivable	3,318	2,278	2,429	2,443	2,943	4,296	5,131	6,615	7,423	6,504	7,436
Inventories, net	8,359	8,129	8,238	8,387	8,276	8,443	8,512	8,875	8,705	9,007	8,727
Other Current Assets	663	673	715	820	791	1,690	1,297	776	777	963	945
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	44,953	44,622	43,946	43,010	42,718	42,283	42,936	45,044	46,968	48,364	50,478
Long-Term Investments	1,426	1,212	973	844	720	627	775	1,046	1,156	1,375	1,402
Goodwill	1,228	1,228	1,252	1,150	1,150	1,150	1,150	1,150	1,150	1,150	1,150
Intangible Assets	428	410	410	404	416	414	413	416	419	423	426
Noncurrent Deferred & Refundable Income Taxes	672	697	708	756	781	664	597	520	474	552	483
Other Noncurrent Operating Assets	41,199	41,075	40,603	39,856	39,651	39,428	40,001	41,912	43,769	44,864	47,017
Total Liabilities & Shareholders' Equity	67,874	66,520	65,680	64,254	63,776	65,718	66,255	69,416	71,461	73,053	78,397
Total Liabilities	18,568	19,263	20,275	20,134	20,891	21,848	22,030	24,285	24,664	24,420	27,649
Total Current Liabilities	6,525	5,255	5,104	4,765	5,962	6,259	6,840	9,248	9,015	7,877	10,135
Short-Term Debt	171	237	259	278	908	344	398	431	533	504	538
Accounts Payable	5,438	4,310	4,177	3,958	3,946	4,680	5,145	7,299	7,126	6,176	8,761
Other Current Liabilities	916	708	668	529	1,108	1,235	1,297	1,518	1,356	1,197	836
Total Noncurrent Liabilities	12,043	14,008	15,171	15,369	14,929	15,589	15,190	15,037	15,649	16,543	17,514
Long-Term Debt	10,094	12,037	12,986	13,052	12,597	13,378	12,860	12,966	13,252	13,851	15,003
Other Noncurrent Operating Liabilities	1,949	1,971	2,185	2,317	2,332	2,211	2,330	2,071	2,397	2,692	2,511
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	49,306	47,257	45,405	44,120	42,885	43,870	44,225	45,131	46,797	48,633	50,748
Total Preferred & Common Equity	49,306	47,257	45,405	44,120	42,885	43,870	44,225	45,131	46,797	48,633	50,748
Total Common Equity	49,306	47,257	45,405	44,120	42,885	43,870	44,225	45,131	46,797	48,633	50,748
Common Stock	10,458	10,756	10,906	11,160	11,341	11,689	11,919	12,240	12,443	12,837	13,086
Retained Earnings	46,873	44,426	42,391	40,824	39,356	39,997	40,169	40,877	42,427	43,839	45,559
Treasury Stock	-7,552	-	-7,552	-7,552	-7,552	-7,552	-7,552	-7,852	-7,852	-7,852	-7,852
Accumulated Other Comprehensive Income / (Loss)	-473	-373	-340	-312	-260	-264	-311	-134	-221	-191	-45

This table displays calculated financial ratios and metrics derived from Micron Technology's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/3/2015	9/1/2016	8/31/2017	8/30/2018	8/29/2019	9/3/2020	9/2/2021	9/1/2022	8/31/2023	8/29/2024	8/28/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.01%	-23.43%	63.90%	49.55%	-22.98%	-8.42%	29.25%	11.02%	-49.48%	61.59%	48.85%
EBITDA Growth	7.84%	-44.00%	202.55%	99.02%	-35.82%	-29.98%	44.36%	33.41%	-87.97%	348.61%	98.69%
EBIT Growth	-3.82%	-96.13%	4,949.12%	152.41%	-52.02%	-56.06%	107.77%	51.85%	-159.38%	122.19%	656.87%
NOPAT Growth	-4.24%	-95.83%	4,780.32%	158.19%	-55.12%	-59.09%	116.27%	49.57%	-145.69%	120.63%	940.41%
Net Income Growth	-5.85%	-109.49%	1,950.91%	177.76%	-55.03%	-57.38%	116.27%	48.22%	-167.15%	113.34%	997.56%
EPS Growth	-2.76%	-110.93%	1,733.33%	161.00%	-52.13%	-56.99%	116.88%	50.78%	-168.90%	113.11%	984.29%
Operating Cash Flow Growth	-7.74%	-39.17%	157.35%	113.42%	-24.20%	-37.02%	50.11%	21.76%	-89.73%	445.67%	106.01%
Free Cash Flow Firm Growth	-61.07%	-387.50%	25.60%	502.66%	-58.10%	-103.48%	2,443.56%	-23.13%	-325.64%	70.49%	178.38%
Invested Capital Growth	15.22%	22.37%	47.52%	24.59%	9.71%	8.48%	7.92%	16.52%	2.57%	5.03%	15.05%
Revenue Q/Q Growth	-3.73%	-3.00%	16.79%	8.20%	-13.23%	5.86%	8.70%	-5.04%	-14.49%	17.50%	10.54%
EBITDA Q/Q Growth	63.07%	435.77%	41.29%	12.27%	-22.47%	8.01%	17.42%	-6.51%	-59.40%	50.23%	14.35%
EBIT Q/Q Growth	-16.48%	-81.03%	76.51%	15.13%	-34.83%	20.69%	39.81%	-12.89%	-110.11%	174.66%	27.77%
NOPAT Q/Q Growth	-13.34%	-84.61%	83.24%	13.89%	-36.29%	19.22%	40.80%	-12.47%	-108.76%	170.14%	36.99%
Net Income Q/Q Growth	-19.00%	-175.14%	99.53%	16.07%	-37.04%	17.52%	41.88%	-12.39%	-100.38%	150.55%	37.17%
EPS Q/Q Growth	-17.39%	-184.38%	103.23%	14.64%	-35.33%	16.18%	41.60%	-11.53%	-100.75%	149.30%	36.27%
Operating Cash Flow Q/Q Growth	232.57%	-57.14%	39.46%	12.64%	-18.14%	0.46%	14.86%	-0.70%	-69.35%	58.98%	15.30%
Free Cash Flow Firm Q/Q Growth	-44.29%	-13.17%	57.20%	15.80%	-42.62%	-150.06%	828.72%	-53.23%	-6.19%	29.85%	116.81%
Invested Capital Q/Q Growth	10.70%	6.45%	2.96%	4.49%	0.77%	3.05%	0.28%	3.33%	-0.66%	2.17%	5.05%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	32.21%	20.20%	41.51%	58.87%	45.72%	30.57%	37.62%	45.19%	-9.11%	22.35%	39.79%
EBITDA Margin	35.51%	25.97%	47.94%	63.80%	53.17%	40.65%	45.40%	54.55%	12.99%	36.05%	48.12%
Operating Margin	18.52%	1.35%	28.88%	49.34%	31.51%	14.01%	22.68%	31.54%	-36.97%	5.19%	26.14%
EBIT Margin	18.19%	0.92%	28.32%	47.81%	29.78%	14.29%	22.97%	31.42%	-36.92%	5.07%	25.78%
Profit (Net Income) Margin	17.90%	-2.22%	25.05%	46.52%	27.16%	12.64%	21.16%	28.24%	-37.54%	3.10%	22.85%
Tax Burden Percent	111.12%	97.86%	97.96%	98.82%	90.21%	90.85%	94.26%	90.76%	103.09%	62.74%	88.45%
Interest Burden Percent	88.59%	-246.49%	90.27%	98.47%	101.10%	97.39%	97.71%	99.04%	98.61%	97.41%	100.20%
Effective Tax Rate	6.02%	0.00%	2.19%	1.17%	9.83%	9.39%	6.34%	9.28%	0.00%	36.37%	11.64%
Return on Invested Capital (ROIC)	22.16%	0.78%	27.83%	53.68%	20.71%	7.77%	15.53%	20.67%	-8.66%	1.72%	16.26%
ROIC Less NNEP Spread (ROIC-NNEP)	53.77%	-18.55%	13.11%	-1.82%	30.62%	8.15%	16.20%	23.32%	298.37%	0.27%	13.54%
Return on Net Nonoperating Assets (RNNOA)	1.11%	-2.87%	3.57%	-0.08%	-2.58%	-0.62%	-1.40%	-2.15%	-3.74%	0.02%	0.94%
Return on Equity (ROE)	23.27%	-2.10%	31.40%	53.60%	18.13%	7.14%	14.14%	18.51%	-12.41%	1.74%	17.20%
Cash Return on Invested Capital (CROIC)	8.01%	-19.34%	-10.57%	31.78%	11.45%	-0.37%	7.91%	5.41%	-11.20%	-3.18%	2.27%
Operating Return on Assets (OROA)	12.65%	0.44%	18.31%	36.92%	15.11%	5.97%	11.31%	15.45%	-8.79%	1.90%	12.66%
Return on Assets (ROA)	12.45%	-1.06%	16.19%	35.92%	13.78%	5.28%	10.42%	13.88%	-8.94%	1.16%	11.22%
Return on Common Equity (ROCE)	21.54%	-1.95%	29.74%	51.73%	17.63%	7.05%	14.14%	18.51%	-12.41%	1.74%	17.20%
Return on Equity Simple (ROE_SIMPLE)	23.57%	-2.28%	27.33%	43.78%	17.72%	6.95%	13.34%	17.41%	-13.22%	1.72%	0.00%
Net Operating Profit after Tax (NOPAT)	2,818	118	5,739	14,818	6,651	2,721	5,885	8,802	-4,022	830	8,632
NOPAT Margin	17.40%	0.95%	28.24%	48.76%	28.41%	12.69%	21.24%	28.62%	-25.88%	3.30%	23.10%
Net Nonoperating Expense Percent (NNEP)	-31.62%	19.33%	14.72%	55.50%	-9.91%	-0.38%	-0.67%	-2.65%	-307.03%	1.45%	2.72%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	12.56%
Cost of Revenue to Revenue	67.79%	79.80%	58.49%	41.13%	54.28%	69.43%	62.38%	54.82%	109.11%	77.65%	60.21%
SG&A Expenses to Revenue	4.44%	5.31%	3.66%	2.68%	3.57%	4.11%	3.23%	3.47%	5.92%	4.50%	3.22%
R&D to Revenue	9.51%	13.04%	8.98%	7.04%	10.43%	12.13%	9.61%	10.13%	20.04%	13.66%	10.16%
Operating Expenses to Revenue	13.69%	18.85%	12.64%	9.53%	14.21%	16.56%	14.94%	13.64%	27.86%	17.16%	13.65%
Earnings before Interest and Taxes (EBIT)	2,945	114	5,756	14,529	6,971	3,063	6,364	9,664	-5,738	1,273	9,635
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	5,750	3,220	9,742	19,389	12,444	8,713	12,578	16,780	2,018	9,053	17,987
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.43	1.40	1.88	1.86	1.35	1.30	1.86	1.25	1.73	2.35	2.52
Price to Tangible Book Value (P/TBV)	1.49	1.47	2.06	1.95	1.41	1.35	1.93	1.29	1.79	2.43	2.60
Price to Revenue (P/Rev)	1.09	1.37	1.72	1.98	2.07	2.36	2.95	2.03	4.91	4.22	3.65
Price to Earnings (P/E)	6.08	0.00	6.87	4.25	7.66	18.80	13.95	7.18	0.00	136.21	15.98
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.73%	0.66%	0.48%	0.38%
Earnings Yield	16.44%	0.00%	14.56%	23.54%	13.05%	5.32%	7.17%	13.92%	0.00%	0.73%	6.26%
Enterprise Value to Invested Capital (EV/IC)	1.39	1.29	1.66	1.91	1.37	1.32	1.99	1.27	1.68	2.23	2.45
Enterprise Value to Revenue (EV/Rev)	1.17	1.74	2.01	1.92	1.97	2.24	2.82	1.90	5.09	4.39	3.72
Enterprise Value to EBITDA (EV/EBITDA)	3.30	6.69	4.20	3.01	3.70	5.50	6.21	3.48	39.21	12.17	7.73
Enterprise Value to EBIT (EV/EBIT)	6.44	188.92	7.11	4.02	6.61	15.66	12.27	6.04	0.00	86.58	14.44
Enterprise Value to NOPAT (EV/NOPAT)	6.73	183.14	7.13	3.94	6.93	17.63	13.27	6.63	0.00	132.84	16.11
Enterprise Value to Operating Cash Flow (EV/OCF)	3.64	6.80	5.02	3.36	3.50	5.77	6.27	3.84	50.76	12.96	7.94
Enterprise Value to Free Cash Flow (EV/FCFF)	18.61	0.00	0.00	6.65	12.54	0.00	26.06	25.32	0.00	0.00	115.67
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.55	0.77	0.57	0.14	0.16	0.17	0.15	0.14	0.30	0.30	0.27
Long-Term Debt to Equity	0.47	0.71	0.51	0.11	0.12	0.16	0.15	0.14	0.30	0.29	0.26
Financial Leverage	0.02	0.15	0.27	0.05	-0.08	-0.08	-0.09	-0.09	-0.01	0.08	0.07
Leverage Ratio	1.87	1.97	1.94	1.49	1.32	1.35	1.36	1.33	1.39	1.50	1.53
Compound Leverage Factor	1.66	-4.86	1.75	1.47	1.33	1.32	1.33	1.32	1.37	1.46	1.54
Debt to Total Capital	35.59%	43.39%	36.36%	12.23%	13.70%	14.56%	13.36%	12.16%	23.20%	22.89%	21.21%
Short-Term Debt to Total Capital	5.28%	3.31%	4.12%	2.27%	3.07%	0.59%	0.31%	0.18%	0.48%	0.74%	0.81%
Long-Term Debt to Total Capital	30.31%	40.08%	32.24%	9.97%	10.63%	13.96%	13.06%	11.97%	22.72%	22.15%	20.39%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	4.78%	3.71%	2.84%	2.56%	2.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	59.63%	52.89%	60.80%	85.21%	83.99%	85.44%	86.64%	87.84%	76.80%	77.11%	78.79%
Debt to EBITDA	1.28	3.08	1.14	0.24	0.47	0.76	0.54	0.41	6.61	1.48	0.81
Net Debt to EBITDA	0.06	1.16	0.52	-0.14	-0.26	-0.29	-0.29	-0.24	1.43	0.47	0.15
Long-Term Debt to EBITDA	1.09	2.84	1.01	0.19	0.36	0.73	0.53	0.41	6.47	1.43	0.78
Debt to NOPAT	2.61	84.27	1.94	0.31	0.88	2.44	1.15	0.78	-3.31	16.15	1.69
Net Debt to NOPAT	0.12	31.75	0.89	-0.18	-0.49	-0.94	-0.62	-0.46	-0.72	5.12	0.31
Long-Term Debt to NOPAT	2.22	77.84	1.72	0.25	0.68	2.34	1.13	0.77	-3.25	15.63	1.62
Altman Z-Score	2.61	1.63	3.08	6.44	4.49	3.78	5.32	4.49	3.42	4.13	4.77
Noncontrolling Interest Sharing Ratio	7.45%	7.00%	5.30%	3.49%	2.79%	1.30%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.20	1.96	2.34	2.79	2.58	2.71	3.10	2.89	4.46	2.64	2.52
Quick Ratio	1.54	1.34	1.72	2.13	1.74	1.82	2.17	1.92	2.53	1.59	1.71
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,019	-2,928	-2,179	8,773	3,676	-128	2,997	2,304	-5,199	-1,534	1,202
Operating Cash Flow to CapEx	129.52%	54.46%	172.22%	195.97%	134.86%	101.01%	124.31%	135.80%	20.31%	101.44%	110.52%
Free Cash Flow to Firm to Interest Expense	2.75	-6.70	-3.63	25.65	28.72	-0.66	16.38	12.19	-13.40	-2.73	2.52
Operating Cash Flow to Interest Expense	14.04	7.25	13.57	50.88	103.04	42.81	68.13	80.32	4.02	15.14	36.74
Operating Cash Flow Less CapEx to Interest Expense	3.20	-6.06	5.69	24.92	26.63	0.43	13.32	21.17	-15.77	0.22	3.50
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.70	0.48	0.65	0.77	0.51	0.42	0.49	0.49	0.24	0.38	0.49
Accounts Receivable Turnover	5.98	5.42	6.98	6.58	5.40	6.03	6.01	5.89	4.10	5.54	4.71
Inventory Turnover	4.58	3.78	3.95	3.72	2.92	2.84	3.51	3.02	2.25	2.26	2.61
Fixed Asset Turnover	1.68	0.98	1.19	1.41	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	4.01	3.05	3.15	3.11	2.82	2.85	3.10	2.95	3.38	3.46	2.66
Days Sales Outstanding (DSO)	61.01	67.34	52.33	55.47	67.62	60.51	60.75	61.95	88.94	65.83	77.53
Days Inventory Outstanding (DIO)	79.72	96.45	92.31	98.08	125.17	128.64	104.12	120.69	161.99	161.57	139.72
Days Payable Outstanding (DPO)	91.03	119.71	115.82	117.35	129.29	128.06	117.66	123.56	108.15	105.36	137.44
Cash Conversion Cycle (CCC)	49.70	44.08	28.82	36.20	63.50	61.10	47.22	59.08	142.77	122.04	79.82
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	13,616	16,662	24,580	30,625	33,600	36,449	39,337	45,835	47,012	49,376	56,806
Invested Capital Turnover	1.27	0.82	0.99	1.10	0.73	0.61	0.73	0.72	0.33	0.52	0.70
Increase / (Decrease) in Invested Capital	1,799	3,046	7,918	6,045	2,975	2,849	2,888	6,498	1,177	2,364	7,430
Enterprise Value (EV)	18,952	21,537	40,909	58,376	46,102	47,961	78,112	58,325	79,127	110,217	139,089
Market Capitalization	17,638	16,955	34,950	60,045	48,383	50,508	81,734	62,397	76,235	105,972	136,448
Book Value per Share	$11.35	$11.63	$16.71	$27.84	$32.51	$35.10	$39.03	$45.24	$40.28	$40.70	$48.40
Tangible Book Value per Share	$10.94	$11.09	$15.26	$26.50	$31.09	$33.69	$37.62	$43.75	$38.86	$39.29	$46.97
Total Capital	20,629	22,838	30,625	37,900	42,719	45,639	50,709	56,813	57,450	58,528	68,742
Total Debt	7,341	9,910	11,134	4,636	5,851	6,643	6,776	6,906	13,330	13,397	14,577
Total Long-Term Debt	6,252	9,154	9,872	3,777	4,541	6,373	6,621	6,803	13,052	12,966	14,017
Net Debt	328	3,734	5,089	-2,639	-3,268	-2,547	-3,622	-4,072	2,892	4,245	2,641
Capital Expenditures (CapEx)	4,021	5,817	4,734	8,879	9,780	8,223	10,030	11,179	7,676	8,386	15,857
Debt-free, Cash-free Net Working Capital (DFCFNWC)	2,259	1,018	2,957	4,342	3,468	3,458	5,005	5,014	7,163	7,449	7,640
Debt-free Net Working Capital (DFNWC)	5,780	5,416	8,385	11,144	11,423	11,600	13,638	14,345	16,757	15,555	17,947
Net Working Capital (NWC)	4,691	4,660	7,123	10,285	10,113	11,330	13,483	14,242	16,479	15,124	17,387
Net Nonoperating Expense (NNE)	-81	393	649	680	293	11	24	115	1,812	52	93
Net Nonoperating Obligations (NNO)	328	3,734	5,089	-2,639	-3,268	-2,547	-4,596	-4,072	2,892	4,245	2,641
Total Depreciation and Amortization (D&A)	2,805	3,106	3,986	4,860	5,473	5,650	6,214	7,116	7,756	7,780	8,352
Debt-free, Cash-free Net Working Capital to Revenue	13.95%	8.21%	14.55%	14.29%	14.82%	16.13%	18.07%	16.30%	46.09%	29.66%	20.44%
Debt-free Net Working Capital to Revenue	35.70%	43.68%	41.26%	36.67%	48.80%	54.12%	49.23%	46.64%	107.83%	61.95%	48.01%
Net Working Capital to Revenue	28.97%	37.58%	35.05%	33.84%	43.21%	52.86%	48.67%	46.30%	106.04%	60.23%	46.52%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.71	($0.27)	$4.67	$12.27	$5.67	$2.42	$5.23	$7.81	($5.34)	$0.70	$7.65
Adjusted Weighted Average Basic Shares Outstanding	1.07B	1.04B	1.09B	1.15B	1.11B	1.11B	1.12B	1.11B	1.09B	1.11B	1.12B
Adjusted Diluted Earnings per Share	$2.47	($0.27)	$4.41	$11.51	$5.51	$2.37	$5.14	$7.75	($5.34)	$0.70	$7.59
Adjusted Weighted Average Diluted Shares Outstanding	1.17B	1.04B	1.15B	1.23B	1.14B	1.13B	1.14B	1.12B	1.09B	1.12B	1.13B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.09B	1.04B	1.15B	1.13B	1.11B	1.11B	1.12B	1.09B	1.10B	1.11B	1.12B
Normalized Net Operating Profit after Tax (NOPAT)	2,820	118	5,739	14,818	6,625	2,775	6,342	8,845	-3,902	830	8,667
Normalized NOPAT Margin	17.42%	0.95%	28.24%	48.76%	28.30%	12.95%	22.89%	28.76%	-25.11%	3.31%	23.19%
Pre Tax Income Margin	16.11%	-2.27%	25.57%	47.08%	30.11%	13.92%	22.44%	31.12%	-36.41%	4.94%	25.83%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.94	0.26	9.58	42.48	54.46	15.79	34.78	51.13	-14.79	2.27	20.20
NOPAT to Interest Expense	7.59	0.27	9.55	43.33	51.96	14.03	32.16	46.57	-10.36	1.48	18.10
EBIT Less CapEx to Interest Expense	-2.90	-13.05	1.70	16.52	-21.95	-26.60	-20.03	-8.02	-34.57	-12.66	-13.04
NOPAT Less CapEx to Interest Expense	-3.24	-13.04	1.67	17.37	-24.45	-28.36	-22.65	-12.58	-30.15	-13.45	-15.15
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	27.45%	0.00%	5.31%	-8.64%	65.94%	6.11%
Augmented Payout Ratio	30.49%	0.00%	0.71%	0.50%	42.92%	33.95%	20.47%	33.30%	-15.93%	104.50%	6.11%

This table displays calculated financial ratios and metrics derived from Micron Technology's official financial filings.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	3/2/2023	6/1/2023	8/31/2023	11/30/2023	2/29/2024	5/30/2024	8/29/2024	11/28/2024	2/27/2025	5/29/2025	8/28/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-52.57%	-56.58%	-39.64%	15.69%	57.70%	81.53%	93.27%	84.28%	38.27%	36.56%	46.00%
EBITDA Growth	-108.36%	-95.97%	-86.16%	-55.50%	687.19%	1,276.41%	638.61%	451.71%	82.21%	56.30%	64.47%
EBIT Growth	-190.16%	-158.47%	-194.75%	-442.25%	108.00%	141.40%	203.55%	287.27%	857.61%	188.20%	138.22%
NOPAT Growth	-170.48%	-146.62%	-170.28%	-439.71%	155.20%	127.57%	186.77%	339.12%	79.19%	467.17%	260.41%
Net Income Growth	-202.17%	-172.20%	-195.84%	-532.82%	134.30%	117.51%	162.03%	251.54%	99.62%	467.77%	260.88%
EPS Growth	-206.00%	-173.93%	-195.62%	-522.22%	133.49%	117.34%	161.83%	249.11%	98.59%	460.00%	249.38%
Operating Cash Flow Growth	-90.55%	-99.37%	-93.41%	48.57%	255.39%	10,241.67%	1,267.47%	131.55%	223.38%	85.70%	68.28%
Free Cash Flow Firm Growth	-202.54%	-69.02%	56.13%	102.46%	107.14%	84.19%	33.41%	-2,283.66%	-990.27%	-475.09%	-186.25%
Invested Capital Growth	10.29%	6.69%	2.57%	-1.98%	0.96%	2.12%	5.03%	11.19%	11.34%	11.89%	15.05%
Revenue Q/Q Growth	-9.60%	1.60%	6.88%	17.86%	23.23%	16.95%	13.79%	12.37%	-7.53%	15.50%	21.65%
EBITDA Q/Q Growth	-121.02%	154.32%	143.08%	60.34%	177.37%	27.32%	30.44%	19.77%	-8.39%	9.22%	37.26%
EBIT Q/Q Growth	-980.28%	23.47%	16.92%	21.05%	115.93%	296.20%	107.82%	42.77%	-18.54%	19.24%	71.78%
NOPAT Q/Q Growth	-1,001.91%	23.53%	16.41%	23.37%	212.69%	-61.80%	163.04%	111.19%	-15.55%	20.90%	67.15%
Net Income Q/Q Growth	-1,085.64%	17.99%	24.58%	13.71%	164.26%	-58.13%	167.17%	110.82%	-15.35%	19.08%	69.81%
EPS Q/Q Growth	-1,077.78%	18.40%	24.28%	14.50%	163.39%	-57.75%	170.00%	106.17%	-15.57%	19.15%	68.45%
Operating Cash Flow Q/Q Growth	-63.63%	-93.00%	937.50%	462.65%	-12.99%	103.61%	37.19%	-4.73%	21.52%	16.92%	24.32%
Free Cash Flow Firm Q/Q Growth	2.36%	30.48%	47.46%	106.90%	183.36%	-253.79%	-121.34%	-126.39%	-15.52%	0.66%	-10.17%
Invested Capital Q/Q Growth	-0.13%	-0.37%	-0.66%	-0.83%	2.87%	0.77%	2.17%	4.99%	3.01%	1.27%	5.05%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	-32.66%	-17.80%	-10.85%	-0.74%	18.53%	26.90%	35.32%	38.44%	36.79%	37.72%	44.67%
EBITDA Margin	-9.72%	5.20%	11.82%	16.08%	36.20%	39.41%	45.17%	48.15%	47.70%	45.10%	50.89%
Operating Margin	-62.36%	-46.94%	-36.71%	-23.87%	3.28%	10.56%	19.64%	24.96%	22.02%	23.32%	32.29%
EBIT Margin	-62.31%	-46.94%	-36.48%	-24.44%	3.16%	10.70%	19.55%	24.84%	21.88%	22.59%	31.90%
Profit (Net Income) Margin	-62.60%	-50.53%	-35.66%	-26.11%	13.62%	4.87%	11.45%	21.47%	19.66%	20.27%	28.29%
Tax Burden Percent	101.81%	108.16%	98.08%	106.84%	466.47%	46.43%	58.74%	86.90%	90.05%	89.21%	88.16%
Interest Burden Percent	98.70%	99.55%	99.66%	100.00%	92.39%	98.08%	99.67%	99.49%	99.77%	100.57%	100.61%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	-365.88%	52.73%	41.26%	13.15%	10.07%	11.12%	11.81%
Return on Invested Capital (ROIC)	-22.23%	-13.02%	-8.60%	-5.74%	5.86%	2.23%	6.01%	12.81%	12.24%	13.69%	20.05%
ROIC Less NNEP Spread (ROIC-NNEP)	8.66%	31.12%	59.13%	-50.29%	1.39%	1.97%	5.81%	12.40%	11.98%	12.54%	19.43%
Return on Net Nonoperating Assets (RNNOA)	-0.41%	-0.99%	-0.74%	-1.09%	0.07%	0.13%	0.46%	1.21%	1.15%	0.98%	1.35%
Return on Equity (ROE)	-22.64%	-14.01%	-9.34%	-6.83%	5.93%	2.36%	6.48%	14.03%	13.38%	14.67%	21.40%
Cash Return on Invested Capital (CROIC)	-6.35%	-10.68%	-11.20%	-7.91%	-7.08%	-4.57%	-3.18%	-2.60%	-1.43%	1.08%	2.27%
Operating Return on Assets (OROA)	-22.07%	-13.02%	-8.69%	-6.01%	0.88%	3.47%	7.34%	10.69%	9.88%	10.56%	15.66%
Return on Assets (ROA)	-22.18%	-14.02%	-8.49%	-6.42%	3.77%	1.58%	4.30%	9.24%	8.87%	9.47%	13.89%
Return on Common Equity (ROCE)	-22.64%	-14.01%	-9.34%	-6.83%	5.93%	2.36%	6.48%	14.03%	13.38%	14.67%	21.40%
Return on Equity Simple (ROE_SIMPLE)	3.41%	-6.41%	0.00%	-16.02%	-8.59%	-3.48%	0.00%	8.30%	9.61%	12.27%	0.00%
Net Operating Profit after Tax (NOPAT)	-1,612	-1,233	-1,030	-790	890	340	894	1,888	1,594	1,928	3,222
NOPAT Margin	-43.65%	-32.85%	-25.70%	-16.71%	15.28%	4.99%	11.54%	21.68%	19.80%	20.73%	28.48%
Net Nonoperating Expense Percent (NNEP)	-30.89%	-44.15%	-67.73%	44.55%	4.47%	0.26%	0.20%	0.41%	0.26%	1.15%	0.62%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-1.40%	1.55%	-	-	3.12%	2.53%	2.91%	4.69%
Cost of Revenue to Revenue	132.66%	117.80%	110.85%	100.74%	81.47%	73.10%	64.68%	61.56%	63.21%	62.28%	55.33%
SG&A Expenses to Revenue	6.26%	5.84%	5.46%	5.57%	4.81%	4.27%	3.81%	3.31%	3.54%	3.42%	2.78%
R&D to Revenue	21.34%	20.20%	17.93%	17.88%	14.29%	12.48%	11.65%	10.20%	11.15%	10.38%	9.25%
Operating Expenses to Revenue	29.70%	29.13%	25.86%	23.13%	15.25%	16.34%	15.68%	13.48%	14.78%	14.40%	12.37%
Earnings before Interest and Taxes (EBIT)	-2,301	-1,761	-1,463	-1,155	184	729	1,515	2,163	1,762	2,101	3,609
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-359	195	474	760	2,108	2,684	3,501	4,193	3,841	4,195	5,758
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.29	1.65	1.73	1.94	2.27	3.16	2.35	2.33	2.10	2.13	2.52
Price to Tangible Book Value (P/TBV)	1.34	1.72	1.79	2.01	2.35	3.28	2.43	2.41	2.17	2.20	2.60
Price to Revenue (P/Rev)	2.65	4.13	4.91	5.14	5.44	6.54	4.22	3.74	3.27	3.20	3.65
Price to Earnings (P/E)	37.89	0.00	0.00	0.00	0.00	0.00	136.21	28.05	21.90	17.38	15.98
Dividend Yield	0.80%	0.67%	0.66%	0.61%	0.51%	0.46%	0.48%	0.47%	0.50%	0.48%	0.38%
Earnings Yield	2.64%	0.00%	0.00%	0.00%	0.00%	0.00%	0.73%	3.57%	4.57%	5.75%	6.26%
Enterprise Value to Invested Capital (EV/IC)	1.29	1.63	1.68	1.87	2.16	2.98	2.23	2.20	2.01	2.06	2.45
Enterprise Value to Revenue (EV/Rev)	2.66	4.24	5.09	5.37	5.66	6.73	4.39	3.92	3.42	3.30	3.72
Enterprise Value to EBITDA (EV/EBITDA)	6.38	15.50	39.21	81.27	29.32	23.87	12.17	9.12	7.53	7.09	7.73
Enterprise Value to EBIT (EV/EBIT)	30.01	0.00	0.00	0.00	0.00	0.00	86.58	24.81	17.36	14.79	14.44
Enterprise Value to NOPAT (EV/NOPAT)	39.40	0.00	0.00	0.00	0.00	0.00	132.84	28.94	22.71	17.70	16.11
Enterprise Value to Operating Cash Flow (EV/OCF)	6.89	15.14	50.76	43.11	35.84	26.88	12.96	11.01	8.19	7.34	7.94
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	201.05	115.67
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.26	0.29	0.30	0.31	0.31	0.30	0.30	0.29	0.30	0.31	0.27
Long-Term Debt to Equity	0.25	0.29	0.30	0.29	0.30	0.29	0.29	0.28	0.28	0.30	0.26
Financial Leverage	-0.05	-0.03	-0.01	0.02	0.05	0.07	0.08	0.10	0.10	0.08	0.07
Leverage Ratio	1.37	1.38	1.39	1.43	1.45	1.47	1.50	1.51	1.50	1.52	1.53
Compound Leverage Factor	1.35	1.38	1.38	1.43	1.34	1.44	1.49	1.50	1.50	1.53	1.54
Debt to Total Capital	20.62%	22.58%	23.20%	23.95%	23.83%	23.06%	22.89%	22.75%	22.79%	23.44%	21.21%
Short-Term Debt to Total Capital	0.40%	0.44%	0.48%	1.61%	0.60%	0.69%	0.74%	0.88%	0.80%	0.81%	0.81%
Long-Term Debt to Total Capital	20.22%	22.14%	22.72%	22.34%	23.23%	22.37%	22.15%	21.87%	21.99%	22.63%	20.39%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	79.38%	77.42%	76.80%	76.05%	76.17%	76.94%	77.11%	77.25%	77.21%	76.56%	78.79%
Debt to EBITDA	1.28	2.67	6.61	12.62	3.88	2.20	1.48	1.10	1.01	0.99	0.81
Net Debt to EBITDA	0.03	0.39	1.43	3.49	1.16	0.68	0.47	0.40	0.34	0.21	0.15
Long-Term Debt to EBITDA	1.25	2.61	6.47	11.77	3.78	2.13	1.43	1.06	0.97	0.95	0.78
Debt to NOPAT	7.89	-6.88	-3.31	-2.90	-4.70	-11.21	16.15	3.50	3.04	2.47	1.69
Net Debt to NOPAT	0.16	-1.00	-0.72	-0.80	-1.40	-3.47	5.12	1.28	1.01	0.53	0.31
Long-Term Debt to NOPAT	7.74	-6.74	-3.25	-2.70	-4.58	-10.87	15.63	3.37	2.94	2.38	1.62
Altman Z-Score	3.37	3.62	3.64	3.73	4.19	5.31	4.14	4.25	4.14	3.95	4.53
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.17	4.26	4.46	3.53	3.74	3.41	2.64	2.72	3.13	2.75	2.52
Quick Ratio	2.49	2.50	2.53	2.01	2.13	1.98	1.59	1.67	1.87	1.80	1.71
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-6,044	-4,202	-2,207	152	432	-664	-1,470	-3,328	-3,845	-3,819	-4,208
Operating Cash Flow to CapEx	15.56%	1.54%	17.04%	78.01%	88.08%	118.98%	109.13%	101.19%	97.21%	156.88%	101.27%
Free Cash Flow to Firm to Interest Expense	-67.91	-35.31	-17.11	1.15	3.00	-4.43	-10.81	-28.20	-34.33	-31.05	-33.93
Operating Cash Flow to Interest Expense	3.85	0.20	1.93	10.61	8.47	16.55	25.04	27.49	35.20	37.47	46.21
Operating Cash Flow Less CapEx to Interest Expense	-20.92	-12.92	-9.40	-2.99	-1.15	2.64	2.10	0.32	-1.01	13.59	0.58
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.35	0.28	0.24	0.25	0.28	0.32	0.38	0.43	0.45	0.47	0.49
Accounts Receivable Turnover	6.02	4.20	4.10	5.17	5.57	5.65	5.54	5.61	5.80	5.38	4.71
Inventory Turnover	2.47	2.38	2.25	2.23	2.22	2.26	2.26	2.37	2.34	2.47	2.61
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	3.36	3.32	3.38	3.95	4.09	4.06	3.46	3.63	3.77	3.06	2.66
Days Sales Outstanding (DSO)	60.63	86.95	88.94	70.62	65.52	64.56	65.83	65.02	62.93	67.83	77.53
Days Inventory Outstanding (DIO)	147.49	153.08	161.99	163.88	164.63	161.48	161.57	154.20	155.78	148.00	139.72
Days Payable Outstanding (DPO)	108.72	110.01	108.15	92.45	89.31	89.87	105.36	100.54	96.91	119.39	137.44
Cash Conversion Cycle (CCC)	99.40	130.02	142.77	142.05	140.84	136.17	122.04	118.68	121.79	96.44	79.82
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	47,501	47,325	47,012	46,622	47,959	48,329	49,376	51,838	53,398	54,076	56,806
Invested Capital Turnover	0.51	0.40	0.33	0.34	0.38	0.45	0.52	0.59	0.62	0.66	0.70
Increase / (Decrease) in Invested Capital	4,432	2,969	1,177	-942	458	1,004	2,364	5,216	5,439	5,747	7,430
Enterprise Value (EV)	61,283	77,025	79,127	86,961	103,689	143,831	110,217	113,920	107,068	111,509	139,089
Market Capitalization	61,039	75,105	76,235	83,224	99,600	139,727	105,972	108,879	102,303	108,181	136,448
Book Value per Share	$43.31	$41.49	$40.28	$39.06	$39.74	$39.94	$40.70	$42.21	$43.65	$45.41	$48.40
Tangible Book Value per Share	$41.81	$39.97	$38.86	$37.63	$38.32	$38.53	$39.29	$40.79	$42.24	$44.00	$46.97
Total Capital	59,531	58,650	57,450	56,390	57,592	57,483	58,528	60,582	62,988	66,289	68,742
Total Debt	12,274	13,245	13,330	13,505	13,722	13,258	13,397	13,785	14,355	15,541	14,577
Total Long-Term Debt	12,037	12,986	13,052	12,597	13,378	12,860	12,966	13,252	13,851	15,003	14,017
Net Debt	244	1,920	2,892	3,737	4,089	4,104	4,245	5,041	4,765	3,328	2,641
Capital Expenditures (CapEx)	2,205	1,561	1,461	1,796	1,384	2,086	3,120	3,206	4,055	2,938	5,658
Debt-free, Cash-free Net Working Capital (DFCFNWC)	6,062	6,537	7,163	6,956	8,514	8,498	7,449	8,423	9,101	7,511	7,640
Debt-free Net Working Capital (DFNWC)	16,880	16,889	16,757	16,004	17,520	16,877	15,555	16,011	17,316	18,322	17,947
Net Working Capital (NWC)	16,643	16,630	16,479	15,096	17,176	16,479	15,124	15,478	16,812	17,784	17,387
Net Nonoperating Expense (NNE)	700	663	400	444	97	7.89	7.05	18	11	43	21
Net Nonoperating Obligations (NNO)	244	1,920	2,892	3,737	4,089	4,104	4,245	5,041	4,765	3,328	2,641
Total Depreciation and Amortization (D&A)	1,942	1,956	1,937	1,915	1,924	1,955	1,986	2,030	2,079	2,094	2,149
Debt-free, Cash-free Net Working Capital to Revenue	26.28%	35.97%	46.09%	42.99%	46.49%	39.76%	29.66%	28.95%	29.06%	22.21%	20.44%
Debt-free Net Working Capital to Revenue	73.19%	92.93%	107.83%	98.91%	95.68%	78.97%	61.95%	55.03%	55.28%	54.19%	48.01%
Net Working Capital to Revenue	72.16%	91.51%	106.04%	93.29%	93.80%	77.11%	60.23%	53.20%	53.67%	52.60%	46.52%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($2.12)	($1.73)	($1.31)	($1.12)	$0.72	$0.30	$0.80	$1.68	$1.42	$1.69	$2.86
Adjusted Weighted Average Basic Shares Outstanding	1.09B	1.09B	1.09B	1.10B	1.10B	1.11B	1.11B	1.11B	1.12B	1.12B	1.12B
Adjusted Diluted Earnings per Share	($2.12)	($1.73)	($1.31)	($1.12)	$0.71	$0.30	$0.81	$1.67	$1.41	$1.68	$2.83
Adjusted Weighted Average Diluted Shares Outstanding	1.09B	1.09B	1.09B	1.10B	1.11B	1.12B	1.12B	1.12B	1.12B	1.13B	1.13B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.09B	1.10B	1.10B	1.10B	1.11B	1.11B	1.11B	1.11B	1.12B	1.12B	1.12B
Normalized Net Operating Profit after Tax (NOPAT)	-1,552	-1,185	-1,028	-790	134	503	895	1,888	1,594	1,928	3,222
Normalized NOPAT Margin	-42.02%	-31.59%	-25.63%	-16.71%	2.30%	7.39%	11.54%	21.68%	19.80%	20.73%	28.48%
Pre Tax Income Margin	-61.49%	-46.72%	-36.36%	-24.44%	2.92%	10.50%	19.48%	24.71%	21.83%	22.72%	32.09%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-25.85	-14.80	-11.34	-8.75	1.28	4.86	11.14	18.33	15.73	17.08	29.10
NOPAT to Interest Expense	-18.11	-10.36	-7.99	-5.98	6.18	2.27	6.57	16.00	14.24	15.67	25.99
EBIT Less CapEx to Interest Expense	-50.63	-27.92	-22.67	-22.36	-8.33	-9.05	-11.80	-8.84	-20.47	-6.80	-16.52
NOPAT Less CapEx to Interest Expense	-42.89	-23.48	-19.31	-19.59	-3.43	-11.64	-16.37	-11.17	-21.97	-8.21	-19.64
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	30.35%	-17.31%	-8.64%	-7.38%	-13.49%	-33.14%	65.94%	13.27%	11.09%	8.37%	6.11%
Augmented Payout Ratio	166.29%	-58.85%	-15.93%	-7.38%	-13.49%	-33.14%	104.50%	13.27%	11.09%	8.37%	6.11%

Financials Breakdown Chart

Key Financial Trends

Micron Technology (NASDAQ:MU) has shown a significant recovery and growth trend over the past few years based on the latest financial data through Q4 2025.

Key Positive Trends:

Revenue growth is strong with Q4 2025 operating revenue reaching $11.3 billion, up from $7.75 billion in Q4 2024, and significantly higher than earlier years (e.g., ~$4.0 billion in Q4 2023).
Net income improved to $3.2 billion in Q4 2025 versus $887 million in Q4 2024 and losses in earlier years, showing a robust turnaround.
Gross profit margin improved as total gross profit in Q4 2025 was $5.05 billion compared to $2.74 billion in Q4 2024, indicating better cost control and pricing power.
Operating income increased to $3.65 billion in Q4 2025 versus $1.52 billion in Q4 2024, reflecting strong operational performance.
Cash flow from continuing operations is healthy at $5.73 billion in Q4 2025, supporting investment and debt repayment activities.
The company actively reduced debt, repaying approximately $934 million in Q4 2025, improving the balance sheet leverage.
Share buybacks and dividends have been consistent, returning capital to shareholders with dividends per share holding steady at $0.115 through recent quarters.
Macroeconomic and industry recovery helped Micron move from multi-quarter losses in 2023 and early 2024 to strong profitability in late 2024 and throughout 2025.

Neutral Financial Items:

Inventories remain elevated around $8.7-$9 billion in recent quarters, reflecting either higher production or cautious stocking amidst market uncertainty.
Capital expenditures remain substantial, with $5.66 billion spent on property, plant, and equipment in Q4 2025, signaling capability expansion or technology upgrades.

Potential Concerns or Negative Items:

Operating costs remain high, with the cost of revenue at $6.26 billion in Q4 2025 despite revenue growth, which could pressure margins if pricing weakens.
Other expenses such as restructuring charges and other operating expenses appeared sporadically, though relatively minor, indicating ongoing operational adjustments.
Fluctuating cash flow from financing activities, with significant repurchases offset by debt issuance in certain quarters, may indicate capital structure adjustments that bear watching.
Q1 2023 showed an operating loss and negative net income, signaling a trough before the more recent recovery, hinting at volatility in the semiconductor cycle.

Overall, Micron Technology has demonstrated a solid recovery trajectory with improving profitability, strong operational cash flows, and active balance sheet management. Retail investors may focus on sustaining revenue growth, margin expansion, and prudent capital allocation as key indicators moving forward.

10/21/25 01:50 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Micron Technology's Financials

When does Micron Technology's fiscal year end?

According to the most recent income statement we have on file, Micron Technology's financial year ends in August. Their financial year 2025 ended on August 28, 2025.

How has Micron Technology's net income changed over the last 10 years?

Micron Technology's net income appears to be on a downward trend, with a most recent value of $8.54 billion in 2025, rising from $2.90 billion in 2015. The previous period was $778 million in 2024. See Micron Technology's forecast for analyst expectations on what’s next for the company.

What is Micron Technology's operating income?

Micron Technology's total operating income in 2025 was $9.77 billion, based on the following breakdown:

Total Gross Profit: $14.87 billion
Total Operating Expenses: $5.10 billion

How has Micron Technology's revenue changed over the last 10 years?

Over the last 10 years, Micron Technology's total revenue changed from $16.19 billion in 2015 to $37.38 billion in 2025, a change of 130.8%.

How much debt does Micron Technology have?

Micron Technology's total liabilities were at $28.63 billion at the end of 2025, a 17.9% increase from 2024, and a 163.8% increase since 2015.

How much cash does Micron Technology have?

In the past 10 years, Micron Technology's cash and equivalents has ranged from $2.29 billion in 2015 to $9.64 billion in 2025, and is currently $9.64 billion as of their latest financial filing in 2025.

How has Micron Technology's book value per share changed over the last 10 years?

Over the last 10 years, Micron Technology's book value per share changed from 11.35 in 2015 to 48.40 in 2025, a change of 326.3%.

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This page (NASDAQ:MU) was last updated on 10/21/2025 by MarketBeat.com Staff

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Micron Technology (MU) Financials

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Micron Technology (MU) Financials

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