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

Micron Technology (MU) Financials

$991.64 +42.84 (+4.52%)

Closing price 07/9/2026 04:00 PM Eastern

Extended Trading

$962.79 -28.85 (-2.91%)

As of 04:35 AM Eastern

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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	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	11/30/2023	2/29/2024	5/30/2024	8/29/2024	11/28/2024	2/27/2025	5/29/2025	8/28/2025	11/27/2025	2/26/2026	5/28/2026
Net Income / (Loss) Attributable to Common Shareholders	-1,234	793	332	887	1,870	1,583	1,885	3,201	5,240	13,785	28,243
Consolidated Net Income / (Loss)	-1,234	793	332	887	1,870	1,583	1,885	3,201	5,240	13,785	28,243
Net Income / (Loss) Continuing Operations	-1,234	793	332	887	1,870	1,583	1,885	3,201	5,240	13,785	28,243
Total Pre-Tax Income	-1,155	170	715	1,510	2,152	1,758	2,113	3,631	6,061	16,160	33,212
Total Operating Income	-1,128	191	719	1,522	2,174	1,773	2,169	3,654	6,136	16,135	33,318
Total Gross Profit	-35	1,079	1,832	2,737	3,348	2,963	3,508	5,054	7,646	17,755	35,056
Total Revenue	4,726	5,824	6,811	7,750	8,709	8,053	9,301	11,315	13,643	23,860	41,456
Operating Revenue	4,726	5,824	6,811	7,750	8,709	8,053	9,301	11,315	13,643	23,860	41,456
Total Cost of Revenue	4,761	4,745	4,979	5,013	5,361	5,090	5,793	6,261	5,997	6,105	6,400
Operating Cost of Revenue	4,761	4,745	4,979	5,013	5,361	5,090	5,793	6,261	5,997	6,105	6,400
Total Operating Expenses	1,093	888	1,113	1,215	1,174	1,190	1,339	1,400	1,510	1,620	1,738
Selling, General & Admin Expense	263	280	291	295	288	285	318	314	337	344	407
Research & Development Expense	845	832	850	903	888	898	965	1,047	1,171	1,250	1,316
Other Operating Expenses / (Income)	-15	-224	-28	16	-2.00	7.00	56	-	2.00	26	15
Total Other Income / (Expense), net	-27	-21	-4.00	-12	-22	-15	-56	-23	-75	25	-106
Interest Expense	132	144	150	136	118	112	123	124	74	32	0.00
Interest & Investment Income	132	130	136	131	107	108	135	146	139	155	215
Other Income / (Expense), net	-27	-7.00	10	-7.00	-11	-11	-68	-45	-140	-98	-321
Income Tax Expense	73	-622	377	623	283	177	235	429	829	2,371	4,978
Other Gains / (Losses), net	-6.00	1.00	-6.00	-	1.00	2.00	7.00	-1.00	8.00	-4.00	9.00
Basic Earnings per Share	($1.12)	$0.72	$0.30	$0.80	$1.68	$1.42	$1.69	$2.86	$4.66	$12.25	$25.03
Weighted Average Basic Shares Outstanding	1.10B	1.10B	1.11B	1.11B	1.11B	1.12B	1.12B	1.12B	1.13B	1.13B	1.13B
Diluted Earnings per Share	($1.12)	$0.71	$0.30	$0.81	$1.67	$1.41	$1.68	$2.83	$4.60	$12.07	$24.67
Weighted Average Diluted Shares Outstanding	1.10B	1.11B	1.12B	1.12B	1.12B	1.12B	1.13B	1.13B	1.14B	1.14B	1.15B
Weighted Average Basic & Diluted Shares Outstanding	1.10B	1.11B	1.11B	1.11B	1.11B	1.12B	1.12B	1.12B	1.13B	1.13B	1.13B
Cash Dividends to Common per Share	$0.12	$0.12	$0.12	-	$0.12	$0.12	$0.12	-	$0.12	$0.12	$0.15

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	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	11/30/2023	2/29/2024	5/30/2024	8/29/2024	11/28/2024	2/27/2025	5/29/2025	8/28/2025	11/27/2025	2/26/2026	5/28/2026
Net Change in Cash & Equivalents	-510	-45	-437	-612	-355	866	2,606	-523	86	4,202	11,088
Net Cash From Operating Activities	1,401	1,219	2,482	3,405	3,244	3,942	4,609	5,730	8,411	11,903	25,388
Net Cash From Continuing Operating Activities	1,401	1,219	2,482	3,405	3,244	3,942	4,609	5,730	8,411	11,903	25,388
Net Income / (Loss) Continuing Operations	-1,234	793	332	887	1,870	1,583	1,885	3,201	5,240	13,785	28,243
Consolidated Net Income / (Loss)	-1,234	793	332	887	1,870	1,583	1,885	3,201	5,240	13,785	28,243
Depreciation Expense	1,915	1,924	1,955	1,986	2,030	2,079	2,094	2,149	2,212	2,286	2,364
Non-Cash Adjustments To Reconcile Net Income	188	213	219	213	220	249	253	250	290	309	355
Changes in Operating Assets and Liabilities, net	532	-1,711	-24	319	-876	31	377	130	669	-4,477	-5,574
Net Cash From Investing Activities	-1,558	-1,151	-2,002	-3,598	-3,148	-3,152	-2,589	-5,198	-4,594	-5,525	-9,569
Net Cash From Continuing Investing Activities	-1,558	-1,151	-2,002	-3,598	-3,148	-3,152	-2,589	-5,198	-4,594	-5,525	-9,569
Purchase of Property, Plant & Equipment	-1,796	-1,384	-2,086	-3,120	-3,206	-4,055	-2,938	-5,658	-5,389	-6,387	-7,826
Purchase of Investments	-199	-266	-645	-889	-377	-439	-387	-687	-255	-865	-2,952
Sale and/or Maturity of Investments	374	352	707	361	428	446	375	449	268	433	532
Other Investing Activities, net	63	147	22	50	7.00	896	361	698	782	1,294	677
Net Cash From Financing Activities	-352	-106	-910	-474	-422	96	540	-1,064	-3,745	-2,167	-4,734
Net Cash From Continuing Financing Activities	-352	-106	-910	-474	-422	96	540	-1,064	-3,745	-2,167	-4,734
Repayment of Debt	-167	-952	-737	-23	-84	-2,456	-1,077	-934	-2,944	-1,507	-4,346
Payment of Dividends	-129	-127	-128	-129	-131	-130	-131	-130	-134	-132	-171
Other Financing Activities, net	-56	-26	-45	-22	-207	-	-	-	-367	-178	-217
Effect of Exchange Rate Changes	-1.00	-7.00	-7.00	-	-29	-20	46	9.00	14	-9.00	3.00

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
Accumulated Other Comprehensive Income / (Loss)	13	-35	29	10	9.00	71	2.00	-560	-312	-134	-32
Other Equity Adjustments	-	-	-	-	-	-	-	-7,127	-	-	-7,852

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	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	8/31/2023	11/30/2023	2/29/2024	5/30/2024	8/29/2024	11/28/2024	2/27/2025	5/29/2025	11/27/2025	2/26/2026	5/28/2026
Total Assets	64,254	63,776	65,718	66,255	69,416	71,461	73,053	78,397	85,971	101,509	134,112
Total Current Assets	21,244	21,058	23,435	23,319	24,372	24,493	24,689	27,919	29,665	41,413	66,737
Cash & Equivalents	8,577	8,075	8,016	7,594	7,041	6,693	7,552	10,163	9,731	13,908	24,995
Short-Term Investments	1,017	973	990	785	1,065	895	663	648	587	681	1,027
Accounts Receivable	2,443	2,943	4,296	5,131	6,615	7,423	6,504	7,436	10,184	17,314	31,025
Inventories, net	8,387	8,276	8,443	8,512	8,875	8,705	9,007	8,727	8,205	8,267	8,567
Other Current Assets	820	791	1,690	1,297	776	777	963	945	958	1,243	1,123
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	43,010	42,718	42,283	42,936	45,044	46,968	48,364	50,478	56,306	60,096	67,375
Long-Term Investments	844	720	627	775	1,046	1,156	1,375	1,402	1,697	2,038	4,106
Goodwill	1,150	1,150	1,150	1,150	1,150	1,150	1,150	1,150	1,150	1,150	1,150
Intangible Assets	404	416	414	413	416	419	423	426	465	468	473
Noncurrent Deferred & Refundable Income Taxes	756	781	664	597	520	474	552	483	641	680	700
Other Noncurrent Operating Assets	39,856	39,651	39,428	40,001	41,912	43,769	44,864	47,017	52,353	55,760	60,946
Total Liabilities & Shareholders' Equity	64,254	63,776	65,718	66,255	69,416	71,461	73,053	78,397	85,971	101,509	134,112
Total Liabilities	20,134	20,891	21,848	22,030	24,285	24,664	24,420	27,649	27,165	29,050	33,388
Total Current Liabilities	4,765	5,962	6,259	6,840	9,248	9,015	7,877	10,135	12,060	14,296	19,488
Short-Term Debt	278	908	344	398	431	533	504	538	569	585	582
Accounts Payable	3,958	3,946	4,680	5,145	7,299	7,126	6,176	8,761	9,796	10,997	15,521
Other Current Liabilities	529	1,108	1,235	1,297	1,518	1,356	1,197	836	1,695	2,714	3,385
Total Noncurrent Liabilities	15,369	14,929	15,589	15,190	15,037	15,649	16,543	17,514	15,105	14,754	13,900
Long-Term Debt	13,052	12,597	13,378	12,860	12,966	13,252	13,851	15,003	11,187	9,557	5,140
Other Noncurrent Operating Liabilities	2,317	2,332	2,211	2,330	2,071	2,397	2,692	2,511	3,918	5,197	8,760
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	44,120	42,885	43,870	44,225	45,131	46,797	48,633	50,748	58,806	72,459	100,724
Total Preferred & Common Equity	44,120	42,885	43,870	44,225	45,131	46,797	48,633	50,748	58,806	72,459	100,724
Total Common Equity	44,120	42,885	43,870	44,225	45,131	46,797	48,633	50,748	58,806	72,459	100,724
Common Stock	11,160	11,341	11,689	11,919	12,240	12,443	12,837	13,086	13,737	14,219	14,570
Retained Earnings	40,824	39,356	39,997	40,169	40,877	42,427	43,839	45,559	53,344	66,824	94,682
Treasury Stock	-7,552	-7,552	-7,552	-7,552	-7,852	-7,852	-7,852	-7,852	-8,152	-8,502	-8,502
Accumulated Other Comprehensive Income / (Loss)	-312	-260	-264	-311	-134	-221	-191	-45	-123	-82	-26

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	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	11/30/2023	2/29/2024	5/30/2024	8/29/2024	11/28/2024	2/27/2025	5/29/2025	8/28/2025	11/27/2025	2/26/2026	5/28/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	1,125,509,261.00	1,127,734,051.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	1,125,509,261.00	1,127,734,051.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	12.25	25.04
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	15.69%	57.70%	81.53%	93.27%	84.28%	38.27%	36.56%	46.00%	56.65%	-	345.72%
EBITDA Growth	-55.50%	687.19%	1,276.41%	638.61%	451.71%	82.21%	56.30%	64.47%	95.75%	-	742.93%
EBIT Growth	-442.25%	108.00%	141.40%	203.55%	287.27%	857.61%	188.20%	138.22%	177.21%	-	1,470.54%
NOPAT Growth	-439.71%	155.20%	127.57%	186.77%	339.12%	79.19%	467.17%	260.41%	180.53%	-	1,369.27%
Net Income Growth	-532.82%	134.30%	117.51%	162.03%	251.54%	99.62%	467.77%	260.88%	180.21%	-	1,398.30%
EPS Growth	-522.22%	133.49%	117.34%	161.83%	249.11%	98.59%	460.00%	249.38%	175.45%	-	1,368.45%
Operating Cash Flow Growth	48.57%	255.39%	10,241.67%	1,267.47%	131.55%	223.38%	85.70%	68.28%	159.28%	-	450.84%
Free Cash Flow Firm Growth	102.46%	107.14%	84.19%	33.41%	-2,283.66%	-990.27%	-475.09%	-186.25%	57.56%	-	259.25%
Invested Capital Growth	-1.98%	0.96%	2.12%	5.03%	11.19%	11.34%	11.89%	15.05%	12.94%	-	41.13%
Revenue Q/Q Growth	17.86%	23.23%	16.95%	13.79%	12.37%	-7.53%	15.50%	21.65%	20.57%	-	73.75%
EBITDA Q/Q Growth	60.34%	177.37%	27.32%	30.44%	19.77%	-8.39%	9.22%	37.26%	42.55%	-	92.99%
EBIT Q/Q Growth	21.05%	115.93%	296.20%	107.82%	42.77%	-18.54%	19.24%	71.78%	66.14%	-	105.76%
NOPAT Q/Q Growth	23.37%	212.69%	-61.80%	163.04%	111.19%	-15.55%	20.90%	67.15%	64.38%	-	105.73%
Net Income Q/Q Growth	13.71%	164.26%	-58.13%	167.17%	110.82%	-15.35%	19.08%	69.81%	63.70%	-	104.88%
EPS Q/Q Growth	14.50%	163.39%	-57.75%	170.00%	106.17%	-15.57%	19.15%	68.45%	62.54%	-	104.39%
Operating Cash Flow Q/Q Growth	462.65%	-12.99%	103.61%	37.19%	-4.73%	21.52%	16.92%	24.32%	46.79%	-	113.29%
Free Cash Flow Firm Q/Q Growth	106.90%	183.36%	-253.79%	-121.34%	-126.39%	-15.52%	0.66%	-10.17%	66.44%	-	410.39%
Invested Capital Q/Q Growth	-0.83%	2.87%	0.77%	2.17%	4.99%	3.01%	1.27%	5.05%	3.06%	-	15.68%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	-0.74%	18.53%	26.90%	35.32%	38.44%	36.79%	37.72%	44.67%	56.04%	-	84.56%
EBITDA Margin	16.08%	36.20%	39.41%	45.17%	48.15%	47.70%	45.10%	50.89%	60.16%	-	85.30%
Operating Margin	-23.87%	3.28%	10.56%	19.64%	24.96%	22.02%	23.32%	32.29%	44.98%	-	80.37%
EBIT Margin	-24.44%	3.16%	10.70%	19.55%	24.84%	21.88%	22.59%	31.90%	43.95%	-	79.60%
Profit (Net Income) Margin	-26.11%	13.62%	4.87%	11.45%	21.47%	19.66%	20.27%	28.29%	38.41%	-	68.13%
Tax Burden Percent	106.84%	466.47%	46.43%	58.74%	86.90%	90.05%	89.21%	88.16%	86.45%	-	85.04%
Interest Burden Percent	100.00%	92.39%	98.08%	99.67%	99.49%	99.77%	100.57%	100.61%	101.08%	-	100.65%
Effective Tax Rate	0.00%	-365.88%	52.73%	41.26%	13.15%	10.07%	11.12%	11.81%	13.68%	-	14.99%
Return on Invested Capital (ROIC)	-5.74%	5.86%	2.23%	6.01%	12.81%	12.24%	13.69%	20.05%	29.76%	-	94.60%
ROIC Less NNEP Spread (ROIC-NNEP)	-50.29%	1.39%	1.97%	5.81%	12.40%	11.98%	12.54%	19.43%	27.39%	-	95.37%
Return on Net Nonoperating Assets (RNNOA)	-1.09%	0.07%	0.13%	0.46%	1.21%	1.15%	0.98%	1.35%	1.24%	-	-13.27%
Return on Equity (ROE)	-6.83%	5.93%	2.36%	6.48%	14.03%	13.38%	14.67%	21.40%	31.00%	-	81.33%
Cash Return on Invested Capital (CROIC)	-7.91%	-7.08%	-4.57%	-3.18%	-2.60%	-1.43%	1.08%	2.27%	9.66%	-	43.51%
Operating Return on Assets (OROA)	-6.01%	0.88%	3.47%	7.34%	10.69%	9.88%	10.56%	15.66%	23.62%	-	67.62%
Return on Assets (ROA)	-6.42%	3.77%	1.58%	4.30%	9.24%	8.87%	9.47%	13.89%	20.65%	-	57.88%
Return on Common Equity (ROCE)	-6.83%	5.93%	2.36%	6.48%	14.03%	13.38%	14.67%	21.40%	31.00%	-	81.33%
Return on Equity Simple (ROE_SIMPLE)	-16.02%	-8.59%	-3.48%	0.00%	8.30%	9.61%	12.27%	0.00%	0.00%	-	0.00%
Net Operating Profit after Tax (NOPAT)	-790	890	340	894	1,888	1,594	1,928	3,222	5,297	13,768	28,324
NOPAT Margin	-16.71%	15.28%	4.99%	11.54%	21.68%	19.80%	20.73%	28.48%	38.82%	-	68.32%
Net Nonoperating Expense Percent (NNEP)	44.55%	4.47%	0.26%	0.20%	0.41%	0.26%	1.15%	0.62%	2.37%	-	-0.77%
Return On Investment Capital (ROIC_SIMPLE)	-1.40%	1.55%	-	-	3.12%	2.53%	2.91%	4.69%	7.51%	16.67%	26.61%
Cost of Revenue to Revenue	100.74%	81.47%	73.10%	64.68%	61.56%	63.21%	62.28%	55.33%	43.96%	-	15.44%
SG&A Expenses to Revenue	5.57%	4.81%	4.27%	3.81%	3.31%	3.54%	3.42%	2.78%	2.47%	-	0.98%
R&D to Revenue	17.88%	14.29%	12.48%	11.65%	10.20%	11.15%	10.38%	9.25%	8.58%	-	3.17%
Operating Expenses to Revenue	23.13%	15.25%	16.34%	15.68%	13.48%	14.78%	14.40%	12.37%	11.07%	-	4.19%
Earnings before Interest and Taxes (EBIT)	-1,155	184	729	1,515	2,163	1,762	2,101	3,609	5,996	16,037	32,997
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	760	2,108	2,684	3,501	4,193	3,841	4,195	5,758	8,208	18,323	35,361
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.94	2.27	3.16	2.35	2.33	2.10	2.13	2.52	4.40	-	10.34
Price to Tangible Book Value (P/TBV)	2.01	2.35	3.28	2.43	2.41	2.17	2.20	2.60	4.52	-	10.51
Price to Revenue (P/Rev)	5.14	5.44	6.54	4.22	3.74	3.27	3.20	3.65	6.11	-	11.54
Price to Earnings (P/E)	0.00	0.00	0.00	136.21	28.05	21.90	17.38	15.98	21.70	-	20.64
Dividend Yield	0.61%	0.51%	0.46%	0.48%	0.47%	0.50%	0.48%	0.38%	0.20%	-	0.05%
Earnings Yield	0.00%	0.00%	0.00%	0.73%	3.57%	4.57%	5.75%	6.26%	4.61%	-	4.85%
Enterprise Value to Invested Capital (EV/IC)	1.87	2.16	2.98	2.23	2.20	2.01	2.06	2.45	4.41	-	13.33
Enterprise Value to Revenue (EV/Rev)	5.37	5.66	6.73	4.39	3.92	3.42	3.30	3.72	6.10	-	11.27
Enterprise Value to EBITDA (EV/EBITDA)	81.27	29.32	23.87	12.17	9.12	7.53	7.09	7.73	11.74	-	15.03
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	86.58	24.81	17.36	14.79	14.44	19.17	-	17.34
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	132.84	28.94	22.71	17.70	16.11	21.44	-	20.10
Enterprise Value to Operating Cash Flow (EV/OCF)	43.11	35.84	26.88	12.96	11.01	8.19	7.34	7.94	11.38	-	19.78
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	201.05	115.67	48.42	-	35.85
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.31	0.31	0.30	0.30	0.29	0.30	0.31	0.27	0.20	-	0.06
Long-Term Debt to Equity	0.29	0.30	0.29	0.29	0.28	0.28	0.30	0.26	0.19	-	0.05
Financial Leverage	0.02	0.05	0.07	0.08	0.10	0.10	0.08	0.07	0.05	-	-0.14
Leverage Ratio	1.43	1.45	1.47	1.50	1.51	1.50	1.52	1.53	1.49	-	1.40
Compound Leverage Factor	1.43	1.34	1.44	1.49	1.50	1.50	1.53	1.54	1.51	-	1.41
Debt to Total Capital	23.95%	23.83%	23.06%	22.89%	22.75%	22.79%	23.44%	21.21%	16.66%	-	5.38%
Short-Term Debt to Total Capital	1.61%	0.60%	0.69%	0.74%	0.88%	0.80%	0.81%	0.81%	0.81%	-	0.55%
Long-Term Debt to Total Capital	22.34%	23.23%	22.37%	22.15%	21.87%	21.99%	22.63%	20.39%	15.85%	-	4.83%
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%
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%
Common Equity to Total Capital	76.05%	76.17%	76.94%	77.11%	77.25%	77.21%	76.56%	78.79%	83.34%	-	94.62%
Debt to EBITDA	12.62	3.88	2.20	1.48	1.10	1.01	0.99	0.81	0.53	-	0.08
Net Debt to EBITDA	3.49	1.16	0.68	0.47	0.40	0.34	0.21	0.15	-0.01	-	-0.36
Long-Term Debt to EBITDA	11.77	3.78	2.13	1.43	1.06	0.97	0.95	0.78	0.51	-	0.08
Debt to NOPAT	-2.90	-4.70	-11.21	16.15	3.50	3.04	2.47	1.69	0.98	-	0.11
Net Debt to NOPAT	-0.80	-1.40	-3.47	5.12	1.28	1.01	0.53	0.31	-0.02	-	-0.48
Long-Term Debt to NOPAT	-2.70	-4.58	-10.87	15.63	3.37	2.94	2.38	1.62	0.93	-	0.10
Altman Z-Score	3.73	4.19	5.31	4.14	4.25	4.14	3.95	4.53	7.55	-	21.61
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.53	3.74	3.41	2.64	2.72	3.13	2.75	2.52	2.46	-	3.42
Quick Ratio	2.01	2.13	1.98	1.59	1.67	1.87	1.80	1.71	1.70	-	2.93
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	152	432	-664	-1,470	-3,328	-3,845	-3,819	-4,208	-1,412	1,192	6,082
Operating Cash Flow to CapEx	78.01%	88.08%	118.98%	109.13%	101.19%	97.21%	156.88%	101.27%	156.08%	-	324.41%
Free Cash Flow to Firm to Interest Expense	1.15	3.00	-4.43	-10.81	-28.20	-34.33	-31.05	-33.93	-19.08	-	0.00
Operating Cash Flow to Interest Expense	10.61	8.47	16.55	25.04	27.49	35.20	37.47	46.21	113.66	-	0.00
Operating Cash Flow Less CapEx to Interest Expense	-2.99	-1.15	2.64	2.10	0.32	-1.01	13.59	0.58	40.84	-	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.25	0.28	0.32	0.38	0.43	0.45	0.47	0.49	0.54	-	0.85
Accounts Receivable Turnover	5.17	5.57	5.65	5.54	5.61	5.80	5.38	4.71	4.81	-	4.69
Inventory Turnover	2.23	2.22	2.26	2.26	2.37	2.34	2.47	2.61	2.74	-	2.86
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Accounts Payable Turnover	3.95	4.09	4.06	3.46	3.63	3.77	3.06	2.66	2.74	-	2.04
Days Sales Outstanding (DSO)	70.62	65.52	64.56	65.83	65.02	62.93	67.83	77.53	75.94	-	77.75
Days Inventory Outstanding (DIO)	163.88	164.63	161.48	161.57	154.20	155.78	148.00	139.72	133.36	-	127.45
Days Payable Outstanding (DPO)	92.45	89.31	89.87	105.36	100.54	96.91	119.39	137.44	133.45	-	178.96
Cash Conversion Cycle (CCC)	142.05	140.84	136.17	122.04	118.68	121.79	96.44	79.82	75.85	-	26.25
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	46,622	47,959	48,329	49,376	51,838	53,398	54,076	56,806	58,547	65,974	76,318
Invested Capital Turnover	0.34	0.38	0.45	0.52	0.59	0.62	0.66	0.70	0.77	-	1.38
Increase / (Decrease) in Invested Capital	-942	458	1,004	2,364	5,216	5,439	5,747	7,430	6,709	12,576	22,242
Enterprise Value (EV)	86,961	103,689	143,831	110,217	113,920	107,068	111,509	139,089	258,200	-	1,017,079
Market Capitalization	83,224	99,600	139,727	105,972	108,879	102,303	108,181	136,448	258,459	-	1,041,485
Book Value per Share	$39.06	$39.74	$39.94	$40.70	$42.21	$43.65	$45.41	$48.40	$52.39	$64.38	$89.32
Tangible Book Value per Share	$37.63	$38.32	$38.53	$39.29	$40.79	$42.24	$44.00	$46.97	$50.95	$62.94	$87.88
Total Capital	56,390	57,592	57,483	58,528	60,582	62,988	66,289	68,742	70,562	82,601	106,446
Total Debt	13,505	13,722	13,258	13,397	13,785	14,355	15,541	14,577	11,756	10,142	5,722
Total Long-Term Debt	12,597	13,378	12,860	12,966	13,252	13,851	15,003	14,017	11,187	9,557	5,140
Net Debt	3,737	4,089	4,104	4,245	5,041	4,765	3,328	2,641	-259	-6,485	-24,406
Capital Expenditures (CapEx)	1,796	1,384	2,086	3,120	3,206	4,055	2,938	5,658	5,389	6,387	7,826
Debt-free, Cash-free Net Working Capital (DFCFNWC)	6,956	8,514	8,498	7,449	8,423	9,101	7,511	7,640	7,856	13,113	21,809
Debt-free Net Working Capital (DFNWC)	16,004	17,520	16,877	15,555	16,011	17,316	18,322	17,947	18,174	27,702	47,831
Net Working Capital (NWC)	15,096	17,176	16,479	15,124	15,478	16,812	17,784	17,387	17,605	27,117	47,249
Net Nonoperating Expense (NNE)	444	97	7.89	7.05	18	11	43	21	57	-17	81
Net Nonoperating Obligations (NNO)	3,737	4,089	4,104	4,245	5,041	4,765	3,328	2,641	-259	-6,485	-24,406
Total Depreciation and Amortization (D&A)	1,915	1,924	1,955	1,986	2,030	2,079	2,094	2,149	2,212	2,286	2,364
Debt-free, Cash-free Net Working Capital to Revenue	42.99%	46.49%	39.76%	29.66%	28.95%	29.06%	22.21%	20.44%	18.57%	-	24.16%
Debt-free Net Working Capital to Revenue	98.91%	95.68%	78.97%	61.95%	55.03%	55.28%	54.19%	48.01%	42.95%	-	52.98%
Net Working Capital to Revenue	93.29%	93.80%	77.11%	60.23%	53.20%	53.67%	52.60%	46.52%	41.61%	-	52.34%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($1.12)	$0.72	$0.30	$0.80	$1.68	$1.42	$1.69	$2.86	$4.66	$12.25	$25.03
Adjusted Weighted Average Basic Shares Outstanding	1.10B	1.10B	1.11B	1.11B	1.11B	1.12B	1.12B	1.12B	1.13B	1.13B	1.13B
Adjusted Diluted Earnings per Share	($1.12)	$0.71	$0.30	$0.81	$1.67	$1.41	$1.68	$2.83	$4.60	$12.07	$24.67
Adjusted Weighted Average Diluted Shares Outstanding	1.10B	1.11B	1.12B	1.12B	1.12B	1.12B	1.13B	1.13B	1.14B	1.14B	1.15B
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	1.10B	1.11B	1.11B	1.11B	1.11B	1.12B	1.12B	1.12B	1.13B	1.13B	1.13B
Normalized Net Operating Profit after Tax (NOPAT)	-790	134	503	895	1,888	1,594	1,928	3,222	5,297	13,768	28,324
Normalized NOPAT Margin	-16.71%	2.30%	7.39%	11.54%	21.68%	19.80%	20.73%	28.48%	38.82%	-	68.32%
Pre Tax Income Margin	-24.44%	2.92%	10.50%	19.48%	24.71%	21.83%	22.72%	32.09%	44.43%	-	80.11%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-8.75	1.28	4.86	11.14	18.33	15.73	17.08	29.10	81.03	-	0.00
NOPAT to Interest Expense	-5.98	6.18	2.27	6.57	16.00	14.24	15.67	25.99	71.58	-	0.00
EBIT Less CapEx to Interest Expense	-22.36	-8.33	-9.05	-11.80	-8.84	-20.47	-6.80	-16.52	8.20	-	0.00
NOPAT Less CapEx to Interest Expense	-19.59	-3.43	-11.64	-16.37	-11.17	-21.97	-8.21	-19.64	-1.25	-	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-7.38%	-13.49%	-33.14%	65.94%	13.27%	11.09%	8.37%	6.11%	4.41%	-	1.12%
Augmented Payout Ratio	-7.38%	-13.49%	-33.14%	104.50%	13.27%	11.09%	8.37%	6.11%	6.93%	-	2.41%

Financials Breakdown Chart

Key Financial Trends

Micron Technology’s latest results show a sharp year-over-year improvement, but also highlight the cyclical nature of the memory business. For fiscal Q2 2026, revenue jumped to $23.86 billion from $13.64 billion in Q1 2026 and $11.32 billion in Q4 2025. Net income surged to $13.79 billion, or $12.07 diluted EPS, compared with $5.24 billion in Q1 2026 and $3.20 billion in Q4 2025. Cash from operations was also strong at $11.90 billion.

Over the last four years, Micron has moved from a deep downturn to a powerful recovery. In fiscal 2023, the company posted losses in several quarters, with revenue as low as $3.75 billion in Q3 2023 and negative operating income. By 2025 and into 2026, profitability rebounded sharply, reflecting much stronger demand and pricing conditions.

Revenue momentum is accelerating: Q2 2026 revenue of $23.86 billion was up strongly from both Q1 2026 and the comparable periods in 2025.
Profitability expanded dramatically: Q2 2026 net income of $13.79 billion and diluted EPS of $12.07 show very strong operating leverage.
Operating margin improved sharply: Q2 2026 operating income of $16.14 billion on $23.86 billion revenue reflects a very high margin profile.
Cash generation is robust: Q2 2026 operating cash flow of $11.90 billion gives Micron significant financial flexibility.
Balance sheet liquidity is solid: Q2 2026 cash and equivalents plus short-term investments totaled about $14.59 billion.
Equity base has strengthened: total common equity rose to $72.46 billion in Q2 2026 from $58.81 billion in Q1 2026.
Micron remains highly cyclical: results swung from losses in 2023 to strong profits in 2026, so earnings can change quickly with memory-market conditions.
Inventory remains elevated: inventories were $8.27 billion in Q2 2026, which is manageable but worth watching in a cyclical industry.
Capital spending is still heavy: Q2 2026 capex was $6.39 billion, which can pressure free cash flow even in strong quarters.
Debt is still meaningful: long-term debt stood at $9.56 billion in Q2 2026, so Micron is not debt-free despite the strong cash position.

Looking at the trend, Micron’s turnaround is clear. Revenue climbed from the weak 2023 period to much stronger levels in 2025 and 2026, while gross profit, operating income, and net income all improved substantially. The company also moved from negative cash and earnings volatility to generating large amounts of operating cash.

From a retail investor perspective, the key question is sustainability. If memory pricing and AI-related demand stay favorable, Micron’s earnings power could remain very strong. If the cycle turns, however, the company’s results can retreat quickly. That makes Micron a high-quality cyclical name, but one that still carries above-average earnings volatility.

07/10/26 01:52 AM ETAI Generated. May Contain Errors.

Micron Technology Financials - Frequently Asked Questions

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

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 where experts think Micron Technology is headed by visiting Micron Technology's forecast page.

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

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%.

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.

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.

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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Financial statements for NASDAQ:MU last updated on 6/27/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Micron Technology (MU) Financials

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Micron Technology (MU) Financials

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