Micron Technology (MU) stock
Information Technology · Semiconductors
Micron Technology (MU) is a Semiconductors company in the Information Technology sector, headquartered in Boise, Idaho. As of October 23, 2026, MU closed at $877.55, a market capitalization of $992.88 billion, the 12th largest company in the S&P 500. Over the last twelve months it generated $133.19 billion in revenue (+379% year over year) and $58.96 billion in free cash flow. The stock trades at 11.8x trailing earnings and 4.2x forward earnings.
- 1-year total return: +325.0% (dividends reinvested)
- 5-year return: +67.8% a year
- 52-week range: $192.59 – $1,255.00
- Gross margin 80.7%, operating margin 80.7%
- Dividend yield: 0.07%
- FI Handbook report card: B+ across 10 metrics
- 5th largest of 75 Information Technology stocks in the S&P 500
MU price chart
1Y price change: +324.5% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| MU | -18.1% | +207.7% | +325.0% | +136.6% | +67.8% | +48.8% | +16.5% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1984.
MU key statistics
- Market cap
- $992.9B
- #12 in S&P 500
- P/E (TTM)
- 11.8x
- Forward P/E
- 4.2x
- EPS (TTM)
- $74.33
- Revenue (TTM)
- $133.2B
- +379%
- Free cash flow
- $59.0B
- Gross margin
- 80.7%
- Operating margin
- 80.7%
- Return on equity
- 88.3%
- Dividend yield
- 0.07%
- 52-week range
- $192.59 – $1,255
- Beta
- 2.23
- Price / sales
- 7.5x
- EV / EBITDA
- 8.8x
- Debt / equity
- 0.04x
- Employees
- 61,000
MU report card
B+Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth379.3%A
- Gross margin80.7%A
- Operating margin80.7%A
- FCF margin44.3%A
- Return on equity88.3%A
- Net debt / EBITDA-0.4xA
- Forward P/E4.2xA
- PEG ratio0.2xA
- Shareholder yield0.1%F
- Share count change / yr0.0%C
Micron Technology financials
Revenue went from $20.3B in fiscal 2017 to $133.2B in fiscal 2026, growing 23.2% a year.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $20.3B | $30.4B | $23.4B | $21.4B | $27.7B | $30.8B | $15.5B | $25.1B | $37.4B | $133.2B |
| Gross profit | $8.4B | $17.9B | $10.7B | $6.6B | $10.4B | $13.9B | -$1.4B | $5.6B | $14.9B | $107.5B |
| Operating income | $5.9B | $15.0B | $7.4B | $3.0B | $6.3B | $9.7B | -$5.7B | $1.3B | $9.8B | $99.3B |
| Net income | $5.1B | $14.1B | $6.3B | $2.7B | $5.9B | $8.7B | -$5.8B | $778.0M | $8.5B | $85.0B |
| EPS (diluted) | $4.41 | $11.51 | $5.51 | $2.37 | $5.14 | $7.75 | $-5.34 | $0.70 | $7.59 | $74.33 |
| Free cash flow | $3.4B | $8.5B | $3.4B | $83.0M | $2.4B | $3.1B | -$6.1B | $121.0M | $1.7B | $59.0B |
| Buybacks | $36.0M | $71.0M | $2.7B | $176.0M | $1.2B | $2.4B | $425.0M | $300.0M | $0 | $650.0M |
| Dividends paid | — | — | — | $0 | $0 | $461.0M | $504.0M | $513.0M | $522.0M | $610.0M |
| Diluted shares | 1.2B | 1.2B | 1.1B | 1.1B | 1.1B | 1.1B | 1.1B | 1.1B | 1.1B | 1.1B |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into MU?
A reverse DCF asks what growth the current price requires. With an enterprise value of $954.6B and $59.0B of trailing free cash flow, Micron Technology needs to grow free cash flow about 5.3% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 89.1% a year over the last five years.
P/E ratio history
Current 115.6x vs. median 11.5x (10th–90th percentile 4.0x–111.1x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
MU dividend
- Dividend yield
- 0.07%
- Annual dividend
- $0.60
- Years of increases
- —
- 5-yr dividend growth
- 79.0%
- per year
- Payout ratio
- 1%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
MU earnings
Next report: December 23, 2026. Micron Technology has beaten EPS estimates 8 quarters in a row. Last quarter's revenue was $54.2B (+379% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Sep 30, 2026 | $31.82 | $33.42 | +5.0% |
| Jun 24, 2026 | $20.69 | $25.11 | +21.4% |
| Mar 18, 2026 | $9.16 | $12.20 | +33.2% |
| Dec 17, 2025 | $3.96 | $4.78 | +20.6% |
| Sep 23, 2025 | $2.86 | $3.03 | +5.9% |
| Jun 25, 2025 | $1.59 | $1.91 | +19.8% |
| Mar 20, 2025 | $1.42 | $1.56 | +9.5% |
| Dec 18, 2024 | $1.77 | $1.79 | +1.4% |
Stocks like MU
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 NVDA NVIDIA | -0.59% | +16% | $5.1T | 26.7x | Compare |
 AVGO Broadcom | -0.48% | -6% | $1.5T | 42.9x | Compare |
 AMD Advanced Micro Devices | +1.74% | +120% | $843.6B | 131.8x | Compare |
 INTC Intel | +1.72% | +128% | $459.7B | — | Compare |
 TXN Texas Instruments | +1.86% | +70% | $260.0B | 36.9x | Compare |
 MRVL Marvell Technology | +2.26% | +177% | $205.4B | 75.2x | Compare |
 ADI Analog Devices | +1.38% | +63% | $189.5B | 46.4x | Compare |
 QCOM QUALCOMM | +1.78% | +6% | $187.8B | 20.4x | Compare |
MU news
- Micron Just Revealed a New Business Strategy. That Change Makes It a Screaming Buy. · Oct 25, 2026
- Stock-Split Watch: Is Micron Next? · Oct 25, 2026
- Nvidia vs. Micron: The AI Revolution Is Big Enough for Both. Here's the Better Buy. · Oct 25, 2026
- Micron Says AI Cut Its Data Center SSD Development Time by 60%. Here’s Where the Stock Could Go by 2031 · Oct 24, 2026
- Micron vs. Sandisk: Which Is the Better AI Memory Stock to Own for the Next 3 Years · Oct 24, 2026
MU stock FAQ
What is MU's market cap?
Micron Technology's market capitalization is $992.88 billion as of October 23, 2026, ranking 12th in the S&P 500.
What is MU's P/E ratio?
MU trades at a trailing price-to-earnings ratio of 11.8x and a forward P/E of 4.2x. Its median P/E over the period we track is 11.5x.
Does MU pay a dividend?
Yes. Micron Technology pays $0.60 per share a year, a 0.07% yield. Dividends grew 79.0% a year over the last five years.
How much has MU stock returned?
Including reinvested dividends, MU returned +325.0% over one year, +67.8% a year over five years, +48.8% a year over ten years through October 23, 2026.
Is MU stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Micron Technology must grow free cash flow about 5% a year for the next decade. Its free cash flow grew 89% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
When does MU report earnings?
Micron Technology is expected to report earnings on December 23, 2026. It has beaten EPS estimates 8 quarters in a row.
How many employees does Micron Technology have?
Micron Technology has about 61,000 full-time employees, or $2.2 million of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology