Micron Technology
Micron Technology, Inc. engages in the provision of semiconductor memory and storage products in the United States, Taiwan, Mainland China, other Asia Pacific countries, Japan, Europe, and internationally. It operates through Cloud Memory Business Unit, Core Data Center Business Unit, Mobile and Cl…
Micron Technology, Inc. engages in the provision of semiconductor memory and storage products in the United States, Taiwan, Mainland China, other Asia Pacific countries, Japan, Europe, and internationally. It operates through Cloud Memory Business Unit, Core Data Center Business Unit, Mobile and Client Business Unit, and Automotive and Embedded Business Unit segments. The company provides dynamic random access memory (DRAM) products, including High-Bandwidth Memory, doublie data rate, low-power DRAM, and graphics DRAM products; NAND products comprising solid state drives, managed NAND, and multi-chip packages; and NOR products. The company sells its products under the Micron brand name and private labels through its own direct sales force, sales or representative offices, as well as through distributors, retailers, and independent sales representatives. Micron Technology, Inc. was founded in 1978 and is headquartered in Boise, Idaho.Looks undervalued
5-year outlook: Not shown because confidence is low: Free-cash-flow DCF is somewhat apart.
Why: Memory and storage prices swing through boom and bust, so current cash flow is valued as steady, with no growth beyond the long-run rate, instead of projecting peak profits forward.
Details and the full model are below.
Market price below modeled range
Showing the EV/EBITDA (12x) you selected on the company card, using 20.14% growth, 3.25% terminal growth and 11.5% discount. The range varies these assumptions slightly; it is illustrative, not investment advice.
Assumptions: growth 20.14%, discount rate 11.50%, terminal growth 3.25% (sector defaults). See a worked example.
Blended growth assumption: 20.1% (sector default 8.5%, own revenue history 40.0%, analyst revenue consensus 16.0%).
Analyst consensus expects revenue growth of 16.0% a year; the growth assumption used is 20.1%.
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Why this model: Memory and storage prices swing through boom and bust, so current cash flow is valued as steady, with no growth beyond the long-run rate, instead of projecting peak profits forward.
Compare models- Recommended: Steady-state FCFF (cycle-adjusted) — USD 621.53 (-10.4%)
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EPS-based Gordon proxy
— USD 927.11 (+33.6%)
Not used: Treats all earnings as if paid out and ignores the cash kept for reinvestment, so it overstates value for companies that retain most profit.
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DCF (trailing free cash flow)
— USD 1183.18 (+70.5%)
Not used: Not chosen: Steady-state FCFF (cycle-adjusted) ranks ahead of it for this company.
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FCFF (steady state)
— USD 621.53 (-10.4%)
Not used: Assumes only the long-run terminal growth rate from today, so it ignores the near-term growth expected.
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EV/EBITDA (12x)
— USD 1172.08 (+68.9%)
Not used: Used only when free cash flow is far below earnings even after averaging three years; a fixed 12x multiple also ignores sector differences.
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Fade DCF (10-year growth fade)
— USD 1167.77 (+68.3%)
Not used: An alternative growth path (fading over 10 years) shown for comparison; the automatic choice does not use it.
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EV/Sales (Rule of 40)
— USD 1775.13 (+155.9%)
Not used: Used only when cash-flow models land far below the price; here they do not.
| Bear USD 982.29 | 29.4% |
| Base USD 1172.08 | 40.8% |
| Bull USD 1361.86 | 49.1% |
Margin = (value − price) / value, so it is measured against the value and reads lower than the upside to value, which is measured against the price. Positive means the price is below that case.
Track record: see the methodology page for how this model has performed historically, including its limits. Treat it as a screen, not a forecast.
Price history and fair value
No chartable saved daily price history is available for this range. The chart uses stored EODHD prices only and will appear after history is saved.
More detail: quality, peers, price history, dividends and financials
Quality score: 92 / 100
Five equal checks on reported history: profitability, cash generation, revenue growth, balance sheet and margins. It describes business quality, not whether the price is attractive.
| Profitability | 4 of 5 years profitable | 16 / 20 |
| Cash generation | free cash flow positive in 4 of 5 years | 16 / 20 |
| Growth | revenue +71.1% a year | 20 / 20 |
| Balance sheet | net cash | 20 / 20 |
| Margins | EBITDA margin 82% | 20 / 20 |
Peers in Information Technology
Same-sector companies with a valuation, most undervalued first. Compare the margin of safety, yield and quality score side by side.
| Company | Price | Margin of safety | P/E | P/B | Yield | Quality |
|---|---|---|---|---|---|---|
| MU (this company) | USD 693.75 | -11.6% | 9.4 | 5.8 | 0.1% | 92 |
| SMCI Supermicro | USD 28.56 | 48.1% | 8.9 | 1.4 | – | 68 |
| ADBE Adobe Inc. | USD 240.53 | 43.9% | 13.0 | 8.1 | – | 100 |
| SNDK Sandisk | USD 873.36 | 39.5% | 6.9 | 7.4 | – | 76 |
| IT Gartner | USD 190.76 | 38.1% | 12.8 | – | – | 92 |
| INTU Intuit | USD 346.10 | 33.6% | 20.6 | 5.0 | 1.4% | 100 |
| HPQ HP Inc. | USD 29.33 | 31.9% | 11.1 | – | 4.0% | 64 |
| GIB-A.TO CGI Inc. | CAD 113.61 | 28.1% | 13.7 | 2.3 | 0.6% | 90 |
| FSLR First Solar | USD 196.17 | 25.8% | 11.4 | 1.9 | – | 84 |
| Peer median | 12.1 | 3.6 | ||||
Dividends
Paid in the last 12 months: USD 0.57 per share · yield 0.08% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 0.450 |
| 2025 | 0.460 |
| 2024 | 0.460 |
| 2023 | 0.460 |
| 2022 | 0.445 |
| 2021 | 0.200 |
Trailing 12-month financials
TTM through 31 Aug 2026 · quarterly EODHD data · data downloaded 06 Nov 2026 09:47
| Revenue | USD 133,188,000,000 |
|---|---|
| EBITDA | USD 108,843,000,000 |
| EBIT | USD 99,340,000,000 |
| Net income | USD 84,969,000,000 |
| Free cash flow | USD 53,906,000,000 |
| Capital expenditures | USD 30,712,000,000 |
| Debt | USD 5,179,000,000 |
| Cash | USD 43,434,000,000 |
| Working capital | USD 63,588,000,000 |
| Shares outstanding | 1,147,000,000 |
| Reported dividends per share | USD 0.5318 |