Logo

MU

Micron Technology, Inc.

MU

Micron Technology, Inc. • NASDAQ
$236.48 ▲ 2.70% (+6.22)
Market Cap $263.91 B
52w High $260.58
52w Low $61.54
Dividend Yield 0.46%
P/E 31.16
Volume 10.05M
Outstanding Shares 1.12B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2025 $11.315B ▲ $1.3B ▼ $3.201B ▲ 28.29% ▲ $2.86 ▲ $5.945B ▲
Q3-2025 $9.301B ▲ $1.339B ▲ $1.885B ▲ 20.267% ▲ $1.69 ▲ $4.33B ▲
Q2-2025 $8.053B ▼ $1.19B ▲ $1.583B ▼ 19.657% ▼ $1.42 ▼ $3.817B ▼
Q1-2025 $8.709B ▲ $1.174B ▼ $1.87B ▲ 21.472% ▲ $1.68 ▲ $4.204B ▲
Q4-2024 $7.75B $1.215B $887M 11.445% $0.8 $3.431B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $10.307B ▼ $82.798B ▲ $28.633B ▲ $54.165B ▲
Q3-2025 $10.811B ▲ $78.397B ▲ $27.649B ▲ $50.748B ▲
Q2-2025 $8.215B ▲ $73.053B ▲ $24.42B ▼ $48.633B ▲
Q1-2025 $7.588B ▼ $71.461B ▲ $24.664B ▲ $46.797B ▲
Q4-2024 $8.106B $69.416B $24.285B $45.131B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2025 $3.201B ▲ $5.73B ▲ $-5.198B ▼ $-1.064B ▼ $543M ▼ $72M ▼
Q3-2025 $1.885B ▲ $4.609B ▲ $-2.589B ▲ $540M ▲ $2.606B ▲ $1.671B ▼
Q2-2025 $1.583B ▼ $3.942B ▲ $-3.152B ▼ $96M ▲ $866M ▲ $7.148B ▲
Q1-2025 $1.87B ▲ $3.244B ▼ $-3.148B ▲ $-422M ▲ $-355M ▲ $38M ▼
Q4-2024 $887M $3.405B $-3.598B $-474M $-612M $285M

Revenue by Products

Product Q3-2024Q1-2025Q2-2025Q3-2025
CNBU
CNBU
 $0 ▲$4.39Bn ▲$4.56Bn ▲$5.07Bn ▲
EBU
EBU
 $0 ▲$1.05Bn ▲$1.02Bn ▼$1.23Bn ▲
MBU
MBU
 $0 ▲$1.53Bn ▲$1.07Bn ▼$1.55Bn ▲
SBU
SBU
 $0 ▲$1.73Bn ▲$1.39Bn ▼$1.45Bn ▲
DRAM Products
DRAM Products
 $4.69Bn ▲$0 ▼$0 ▲$0 ▲
NAND Products
NAND Products
 $2.06Bn ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Micron’s income statement shows a classic memory-chip cycle. A couple of years ago the company swung into a deep downturn with falling sales, negative gross profit, and sizable losses. Since then, results have rebounded sharply: revenue has surged, profitability has recovered, and earnings are now solidly positive again. This tells you two things: Micron is very sensitive to industry cycles, but it also has the operating leverage to earn strong profits when demand and pricing improve.

Balance Sheet

Balance Sheet The balance sheet looks generally solid and built to handle swings in the business. Assets have grown over time as Micron invests in advanced manufacturing and technology. Cash levels are healthy, providing a cushion, although debt has climbed compared with earlier years as the company funds heavy investment. Shareholders’ equity has risen, which reflects the recovery in profits and retained earnings. Overall, it’s a capital‑intensive balance sheet, but not an obviously stretched one.

Cash Flow

Cash Flow Cash generation moves in step with the industry cycle. In stronger years, Micron produces substantial operating cash flow; in the downturn, that cash flow fell sharply but did not collapse entirely. Free cash flow is very volatile because capital spending is consistently high: the company spends heavily on new fabs, equipment, and process technology, sometimes outpacing the cash coming in. This pattern fits a business that must keep investing through the cycle to stay technologically competitive, even when profits are weak.

Competitive Edge

Competitive Edge Micron is one of a very small group of global leaders in DRAM and NAND memory, which gives it scale, deep know‑how, and a large patent portfolio. High barriers to entry, enormous upfront investment, and complex manufacturing all work in its favor. At the same time, competition among the existing players is intense and prices can swing quickly, so its advantage is meaningful but not cozy. Micron tends to be strongest during technology transitions and periods of tight supply, and more exposed when the market is oversupplied and prices fall.

Innovation and R&D

Innovation and R&D Innovation is central to Micron’s strategy. The company is pushing leading‑edge 3D NAND, advanced DRAM nodes, and high‑bandwidth memory tailored for AI and high‑performance computing. Its HBM3E products position it directly in the AI infrastructure build‑out, while security technologies like Authenta and its Crucial consumer brand help differentiate its offerings. Persistent, heavy R&D spending is a deliberate choice: it keeps Micron near the front of the technology curve but also raises the cost of staying competitive.

Summary

Micron today looks like a refreshed version of the classic memory story: highly cyclical results wrapped around real technological strength. The recent move from losses back to strong profitability underlines how sensitive the business is to demand and pricing, but also how much earnings power it has in good times. The balance sheet and cash flows show a company willing to invest aggressively through the cycle while maintaining a reasonable financial cushion. Its competitive position is strong but constantly tested by rivals and volatility in supply and demand. Long term, Micron’s focus on AI‑related memory, advanced NAND and DRAM, automotive, and secure IoT gives it exposure to important growth trends, with the ongoing trade‑off of higher volatility and heavy investment needs.

NEWS

November 19, 2025 · 4:01 PM UTC

Micron Technology to Report Fiscal First Quarter Results on December 17, 2025

Read more

November 13, 2025 · 9:00 AM UTC

Micron Ships Automotive UFS 4.1, Designed to Unlock Intelligent Mobility With Speed, Safety and Reliability

Read more

October 30, 2025 · 7:00 PM UTC

CORRECTION – Micron Announces Participation in Investor Event

Read more

October 30, 2025 · 4:01 PM UTC

Micron Announces Participation in Investor Event

Read more

October 22, 2025 · 9:01 AM UTC

Micron Delivers Industry's Highest Capacity SOCAMM2 for Low-Power DRAM in the AI Data Center

Read more