Micron Technology, Inc. (MU) stock analysis
Company overview and business model
Source fact: Micron Technology, Inc. designs, develops, manufactures, and sells memory and storage products in the United States, Taiwan, Japan, Mainland China, Hong Kong, Europe, and internationally. It operates through the Cloud Memory Business Unit; Core Data Center Business Unit; Mobile and Client Business Unit; and Automotive and Embedded Business Unit segments. The company provides memory products, including dynamic random access memory components and modules, CXL-based memory, LPDDR components and modules, graphics memory, high-bandwidth memory, and data center memory products; multichip packages (MCP) comprising embedded multimedia card-based, universal flash storage-based, and NAND-based MCPs; and technology leadership products that include 1y DRAM and G9 NAND technologies. It also offers storage products, such as data center solid-state drives (SSD), client SSD storage, and auto and industrial SSD storage; managed NAND; NAND flash; NOR flash; and memory cards. In addition, the company provides design tools, including FBGA and part decoders; DRAM power calculators; NAND power calculators; simulation models; chipset compatibility guides; serial presence-detection tools; cross-reference tools; UFSparm; SSD firmware; software and drivers; storage executive software; and obsolete part catalogs. It markets its semiconductor memory and storage products under the Micron and Crucial brands. The company serves the data center, PC, graphics, networking, automotive, industrial, and consumer embedded markets, as well as the smartphone and other mobile-device markets. It sells its products through its direct sales force, independent sales representatives, distributors, and retailers; web-based customer direct sales channel; and channel and distribution partners. Micron Technology, Inc. was founded in 1978 and is headquartered in Boise, Idaho.
Classification: NASDAQ · Technology · Semiconductors
Revenue and growth
Source fact: Revenue was USD 37.38 billion for the period ending 2025-08-31.
Caverian calculation: Revenue changed +48.9% (FY2025 vs FY2024).
Profitability
Source fact: Net income was USD 8.54 billion in the latest reported period.
Source metric: Reported net margin was 22.8%.
Balance sheet and liquidity
Source fact: Cash and equivalents were USD 9.64 billion.
Source fact: Total debt was USD 15.28 billion.
Source metric: Current ratio was 2.52x.
Cash-flow analysis
Source fact: Operating cash flow was USD 17.52 billion.
Source fact: Free cash flow was USD 1.67 billion.
Valuation
Source metrics: Trailing P/E 21.86x; Forward P/E 6.21x; Price to book 10.84x; EV/EBITDA 15.72x.
Caverian model output: Value score was 60/100.
Competitive position
Classification: Peer context: Semiconductors within Technology.
Caverian model output: Quality score was 82/100.
Caverian model output: Growth score was 78/100.
Material risks
Caverian model interpretation: Watch out: price swings more than the broader market (beta 2.2).
Caverian calculation: Piotroski F-score was 7/9.
Data sources and freshness
Freshness: This report uses a stored upstream snapshot; statement periods are shown alongside the figures.
Methodology and limitations
Facts reproduce stored upstream fields. Calculations derive only from the displayed stored statements. Model outputs are Caverian interpretations, not investment advice or a buy/sell recommendation.
How Caverian approaches valuation · Sources and product principles