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Micron Technology, Inc.

MU Technology Semiconductors

Micron Technology, Inc.’s revenue for fiscal 2026 (year ended August 2026) was $133.2 billion, up 256.3% from fiscal 2025. In the quarter to August 2026, revenue grew 379.3%, EPS grew 1,066.4%, free cash flow grew 45,543.1% and total debt fell 64.5%, each against the same quarter a year earlier. Member of the S&P 500 and Nasdaq 100; dividend growth for five consecutive years, revenue growth for three, operating cash flow growth for three; insiders bought in the last twelve months.

902.57 28.67 −3.08%
Market cap
$1.05T
P/E
12.4×
Fwd P/E
14.7×
Dividend yield
0.06%
F-score
8/9
Altman Z
14.96
Beneish M
0.34
Dividend safety
82/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Micron Technology, Inc. (MU) Business Profile

Updated · Covers results through FY2026 · Sources · How this is made

What it does

Micron states that it develops and manufactures semiconductor memory and storage products for AI and compute-intensive applications. Its portfolio includes DRAM, NAND, and NOR technologies, sold in forms including components, modules, SSDs, managed NAND, multi-chip packages, and wafers. The company describes DRAM as high-speed, volatile memory; NAND as non-volatile storage; and NOR as non-volatile memory used for code and small-data storage. It also offers system-level solutions that can combine NAND, a controller, firmware, and, in some cases, DRAM.

Source: Micron Technology, Inc. Form 10-K for fiscal 2026, Item 1 — sec.gov

How it makes money

The company states that it sells memory and storage products through four business units: Cloud Memory, Core Data Center, Mobile and Client, and Automotive and Embedded. These units serve cloud and other data-center customers, mobile and client markets, and automotive, industrial, and consumer-embedded markets. Micron sells under its own brand and through private labels. Sales are made primarily through its direct sales force, while distributors, retailers, and independent sales representatives also offer its products. Customer contracts can be short-term, while certain strategic agreements are take-or-pay arrangements with binding volume commitments.

Source: Micron Technology, Inc. Form 10-K for fiscal 2026, Item 1 — sec.gov

Customers and geography

Micron states that it works with customers early in product life cycles to identify product features and performance characteristics. Its products are sold to a worldwide customer base through direct sales channels and intermediaries. The filing says approximately one-half of total revenue in each of the last three years came from its top ten customers, indicating customer concentration. It also says it maintains inventory near certain key customers to facilitate rapid delivery. The supplied filing material does not provide a geographic revenue breakdown or name individual customers.

Source: Micron Technology, Inc. Form 10-K for fiscal 2026, Item 1 — sec.gov

Competition

The filing states that Micron faces intense competition in semiconductor memory and storage. It names Samsung Electronics Co., Ltd.; SK hynix Inc.; Kioxia Holdings Corporation; Sandisk Corporation; ChangXin Memory Technologies, Inc. (CXMT); and Yangtze Memory Technologies Co., Ltd. (YMTC). According to the company, competitors may use aggressive pricing, and some may have greater market share and resources, lower labor and compliance costs, or government assistance. The filing also cites potential industry consolidation, new entrants, and expanded worldwide supply as competitive considerations.

Source: Micron Technology, Inc. Form 10-K for fiscal 2026, Item 1 — sec.gov

Key risks

The filing’s risk-factor summary lists, among others:

  • Volatility in average selling prices of its products.
  • A range of factors that may adversely affect gross margins.
  • International operations, including geopolitical risks.
  • The highly competitive nature of its industry.
  • Its ability to develop, produce, and supply new and competitive memory and storage technologies and products.
  • Availability and quality of materials, supplies, electrical power, gas, water, and capital equipment, or dependency on third-party service providers.

Source: Micron Technology, Inc. Form 10-K for fiscal 2026, Item 1A — sec.gov

People and operations

The fact set reports 53,000 employees for FY2025. Micron states that it manufactures products at wholly owned facilities in Taiwan, Singapore, Japan, the United States, Malaysia, China, and India, and also uses subcontractors for certain manufacturing processes. Its facilities generally manufacture products on 300mm wafers and operate 24 hours per day, seven days per week. The company describes semiconductor manufacturing as capital intensive and says its process includes wafer fabrication, post-fabrication processing, assembly, and testing. The supplied material does not state seasonality.

Source: Micron Technology, Inc. Form 10-K for fiscal 2026, Item 1 — sec.gov

Sources

This page is for information only. It is not investment advice, a recommendation or an offer to buy or sell any security. Figures come from the sources listed above and may contain errors; verify against the company's filings.