MU (Micron Technology, Inc.) Stock Financials & Earnings

2026 Q2 · Mar 18

MUMicron Technology, Inc.

Mkt Cap$438B

MUMicron Technology, Inc.

$438B

2026 Q2 · Mar 18

Company Info & Key Metrics

Technology Semiconductors

Micron Technology, Inc. designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, ...

CEOSanjay Mehrotra

Country🇺🇸 United States

ExchangeNASDAQ

IPOJun 1, 1984

www.micron.com

Revenue$13.6B

YoY Growth+56.7%

QoQ Growth+20.6%

Net Income$5.2B

EPS$4.60

Free Cash Flow$3.0B

Gross Margin56.1%

Op. Margin45.0%

Net Margin38.4%

FCF Margin22.2%

Rev Multiple (TTM)10.4x

P/E Ratio (TTM)36.8x

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q2 23	$3.7B	-$1.2B	-$2.3B
Q3 23	$3.8B	-$668M	-$1.8B
Q4 23	$4.0B	-$435M	-$1.5B
Q1 24	$4.7B	-$35M	-$1.1B
Q2 24	$5.8B	$1.1B	$191M
Q3 24	$6.8B	$1.8B	$719M
Q4 24	$7.8B	$2.7B	$1.5B
Q1 25	$8.7B	$3.3B	$2.2B
Q2 25	$8.1B	$3.0B	$1.8B
Q3 25	$9.3B	$3.5B	$2.2B
Q4 25	$11.3B	$5.1B	$3.8B
Q1 26	$13.6B	$7.7B	$6.1B

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q2 23	19.0x	272.0x
Q3 23	24.1x	—
Q4 23	28.2x	—
Q1 24	27.1x	—
Q2 24	23.9x	—
Q3 24	20.5x	—
Q4 24	17.4x	563.2x
Q1 25	15.1x	112.9x
Q2 25	14.0x	93.8x
Q3 25	13.0x	70.4x
Q4 25	11.7x	51.3x
Q1 26	10.4x	36.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 23	$343M	-$1.9B
Q3 23	$24M	-$1.5B
Q4 23	$249M	-$1.2B
Q1 24	$1.4B	-$395M
Q2 24	$1.2B	-$165M
Q3 24	$2.5B	$396M
Q4 24	$3.4B	$285M
Q1 25	$3.2B	$38M
Q2 25	$3.9B	$7.1B
Q3 25	$4.6B	$1.7B
Q4 25	$5.7B	$72M
Q1 26	$8.4B	$3.0B

Capital Expenditures

CapEx

Quarter	CapEx
Q2 23	$2.2B
Q3 23	$1.6B
Q4 23	$1.5B
Q1 24	$1.8B
Q2 24	$1.4B
Q3 24	$2.1B
Q4 24	$3.1B
Q1 25	$3.2B
Q2 25	$3.2B
Q3 25	$2.9B
Q4 25	$5.7B
Q1 26	$5.4B

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 23	-52.6%	+14.4%
Q3 23	-56.6%	-2.2%
Q4 23	-39.6%	+7.0%
Q1 24	+15.7%	+36.3%
Q2 24	+57.7%	-6.1%
Q3 24	+81.5%	+10.5%
Q4 24	+93.3%	+13.6%
Q1 25	+84.3%	+11.6%
Q2 25	+38.3%	+11.5%
Q3 25	+36.6%	+17.1%
Q4 25	+46.0%	+21.4%
Q1 26	+56.7%	+14.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 23	$157M	4.3%
Q3 23	$145M	3.9%
Q4 23	$148M	3.7%
Q1 24	$188M	4.0%
Q2 24	$213M	3.7%
Q3 24	$219M	3.2%
Q4 24	$213M	2.7%
Q1 25	$220M	2.5%
Q2 25	$249M	3.1%
Q3 25	$253M	2.7%
Q4 25	$262M	2.3%
Q1 26	$290M	2.1%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q2 23	$788M	$36M	$195M	—
Q3 23	$758M	—	—	$219M
Q4 23	$719M	—	—	$219M
Q1 24	$865M	—	—	$263M
Q2 24	$832M	$52M	$228M	—
Q3 24	$850M	—	—	$291M
Q4 24	$903M	—	—	$295M
Q1 25	$906M	—	—	$288M
Q2 25	$898M	—	—	$285M
Q3 25	$965M	—	—	$318M
Q4 25	$1.0B	—	—	$314M
Q1 26	$1.2B	—	—	$337M

Revenue Segments

Quarter	Cnbu	Ebu	Mbu	Sbu
Q2 23	$1.4B	$865M	$945M	$507M
Q3 23	$1.4B	$912M	$819M	$627M
Q4 23	$1.2B	$860M	$1.2B	$739M
Q1 24	$1.7B	$1.0B	$1.3B	$653M
Q2 24	$2.2B	$1.1B	$1.6B	$905M
Q3 24	$2.6B	$1.3B	$1.6B	$1.4B
Q4 24	$3.0B	$1.2B	$1.9B	$1.7B
Q1 25	$4.4B	$1.1B	$1.5B	$1.7B
Q2 25	$4.6B	$1.0B	$1.1B	$1.4B
Q3 25	$5.1B	$1.2B	$1.6B	$1.5B

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 23	$9.8B	$1.0B	$10.8B
Q3 23	$9.3B	$1.1B	$10.4B
Q4 23	$8.6B	$1.0B	$9.6B
Q1 24	$8.1B	$973M	$9.0B
Q2 24	$8.0B	$990M	$9.0B
Q3 24	$7.6B	$785M	$8.4B
Q4 24	$7.0B	$1.1B	$8.1B
Q1 25	$6.7B	$895M	$7.6B
Q2 25	$7.6B	$663M	$8.2B
Q3 25	$10.2B	$648M	$10.8B
Q4 25	$9.6B	$665M	$10.3B
Q1 26	$8.8B	$1.5B	$10.3B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q2 23	1.09B	+0.1%
Q3 23	1.09B	+0.3%
Q4 23	1.09B	+0.1%
Q1 24	1.10B	+0.5%
Q2 24	1.11B	+1.3%
Q3 24	1.12B	+0.8%
Q4 24	1.13B	+0.2%
Q1 25	1.12B	-0.3%
Q2 25	1.12B	+0.1%
Q3 25	1.13B	+0.2%
Q4 25	1.13B	+0.0%
Q1 26	1.14B	+1.2%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$538K	30K
FY 15	$509K	32K
FY 16	$395K	31K
FY 17	$596K	34K
FY 18	$844K	36K
FY 19	$633K	37K
FY 20	$536K	40K
FY 21	$644K	43K
FY 22	$641K	48K
FY 23	$361K	43K
FY 24	$523K	48K
FY 25	$705K	53K