MU
Micron Technology Inc
MU—
Micron Technology Inc AI Insights
Informational only. Not investment advice.Snapshot
- EPS growth 258% YoY (7.72 TTM) vs industry median 12% - cyclical upswing in full force[EPS Growth 1yr]
- Capex of 15.9B TTM (42% of revenue) crushes FCF to 1.7B despite 17.5B operating cash flow[Capital Expenditure TTM]
- Operating margin 26.2% vs industry median 2.4% - 10x advantage at cycle peak[Operating Margin TTM]
Watch Triggers
- Gross Margin TTM: Falls below 35% — First signal of pricing pressure; currently 39.8% - 500bps cushion before margin compression accelerates
- Inventory TTM: Exceeds 10B or >90 days — At 8.4B now; inventory build signals demand weakness before revenue declines
- Capital Expenditure TTM: Exceeds 18B annually — Would eliminate FCF entirely; signals competitive pressure intensifying
Bull Case
AI/HBM supercycle: 37.4B revenue with 26% operating margin and 258% EPS growth positions MU as primary beneficiary of datacenter memory demand
Operating Margin TTMEPS Growth 1yrTotal Revenue TTM
Balance sheet strength: 0.28 debt/equity with 9.6B cash provides flexibility through inevitable cyclical downturn
Debt to EquityCash and Equivalents TTM
Bear Case
Peak cycle valuation: P/E 32x at cycle high vs historical troughs of 5-10x; margins mean-revert violently in memory
PE RatioOperating Margin TTM
Capex trap: 15.9B annual spend (42% of revenue) required to compete; FCF yield 0.6% despite record profits
Capital Expenditure TTMFree Cash Flow TTM
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
45%
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Forward Thesis
HBM/AI demand extends cycle but capex intensity limits shareholder returns near-term
1-3ymed
- 15.9B annual capex for HBM capacity expansion
- FCF yield under 1% despite record profitability
- Inventory at 8.4B signals production ramp
FCF 1.7B vs OCF 17.5B TTMPPE 47.3B (57% of assets)R&D 3.8B TTM (10% of revenue)
Valuation Context
Caveats
Public Strategies Rankings
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MU Fundamentals
Manufacturing → Computer and Electronic Product Manufacturing
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$262.97B | — | ||
$268.6B | — | ||
30 | — | ||
$37.38B | +48.9% | — | |
$7.72 | +1057.9% | — | |
26.2% | +21.3% | — | |
22.8% | +19.7% | — | |
$1.67B | +1278.5% | — | |
0.17 | +15.5% | — | |
Beta 5Y (Monthly) | unknown | — |
MU Dividend History
17 dividends
10/21/25$0.1150
07/22/25$0.1150
04/15/25$0.1150
01/15/25$0.1150
10/23/24$0.1150
07/23/24$0.1150
04/16/24$0.1150
01/18/24$0.1150
10/25/23$0.1150
07/25/23$0.1150
04/25/23$0.1150
01/19/23$0.1150
10/26/22$0.1150
07/26/22$0.1150
04/26/22$0.1000
01/18/22$0.1000
10/18/21$0.1000
MU Stock Splits
1 stock split
05/02/000.5:1 split
MU SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
10/03/25 | 08/28/25 | Unknown | |
06/26/25 | 05/29/25 | 10-Q | |
03/21/25 | 02/27/25 | 10-Q | |
12/19/24 | 11/28/24 | 10-Q | |
10/04/24 | 08/29/24 | 10-K | |
06/27/24 | 05/30/24 | 10-Q | |
03/21/24 | 02/29/24 | 10-Q | |
12/21/23 | 11/30/23 | 10-Q | |
10/06/23 | 08/31/23 | 10-K | |
06/29/23 | 06/01/23 | 10-Q | |
03/29/23 | 03/02/23 | 10-Q | |
12/22/22 | 12/01/22 | 10-Q | |
10/07/22 | 09/01/22 | 10-K | |
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03/30/22 | 03/03/22 | 10-Q | |
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10/08/21 | 09/02/21 | 10-K | |
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01/08/21 | 12/03/20 | 10-Q | |
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03/26/20 | 02/27/20 | 10-Q | |
12/20/19 | 11/28/19 | 10-Q | |
10/17/19 | 08/29/19 | 10-K | |
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03/21/19 | 02/28/19 | 10-Q | |
12/19/18 | 11/29/18 | 10-Q | |
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04/07/09 | 02/28/09 | Unknown | -- |
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01/16/07 | 11/30/06 | NT 10-Q | |
11/08/06 | 08/30/06 | Unknown | -- |
07/11/06 | 05/31/06 | 8-K | |
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06/28/02 | 05/31/02 | 10-Q | |
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