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Micron Technology's finances, and what holding MU would have done

Micron Technology's revenue, profit, cash flow and debt from SEC filings, and what holding MU would have done in the past.

By Tickfloor · 3 min read
The Micron semiconductor fab building in Taichung, Taiwan
Photo: Thingreenline4546 via Wikimedia Commons, CC BY-SA 4.0

Micron Technology (MU) was the number 14 US company by market value on 5 November 2026, at about $900 billion, on the companiesmarketcap.com ranking. Its figures come from its SEC filings, read on 5 November 2026. A figure a filing lacks is marked as not reported.

What Micron Technology sells

Micron makes memory chips: the DRAM that sits next to a processor and the flash storage in phones and computers. Computers built for AI need a lot of it.

The finances

  • Revenue: $133 billion in the year to 3 September 2026 (10-K), up 256.3% from $37.4 billion. Growth that quick is rare at this size.
  • Net income: $85.0 billion in the year to 3 September 2026 (10-K), against $8.5 billion a year earlier; net margin 63.8%. About $64 of every $100 of sales stayed as profit, a very high margin.
  • Free cash flow: $59.0 billion in the year to 3 September 2026 (10-K), which is $89.7 billion of operating cash flow minus $30.7 billion of capital spending. That is the cash left after running and equipping the business.
  • Cash and debt: $38.4 billion in cash and $2.8 billion of debt (10-K, 3 September 2026). It held more cash than debt.
  • Share count: 1.14 billion average diluted shares in the year to 3 September 2026 (10-K), up 1.6% from 1.13 billion. More shares, often from pay in stock, make each one a smaller slice.

One thing to notice: Revenue more than tripled in its latest year, from $37.4 billion to $133.2 billion. Memory chip makers have long had years when profit swung hard in both directions, so one strong year does not show that this level holds.

What holding it would have done

From our free long-term checker, which looks back only:

  • Past returns, price only: 1-year +264% (SPY +10%), 3-year +1078% (SPY +74%), 5-year +1100% (SPY +62%), 10-year +4933% (SPY +248%). That 10-year gain is 48.1% a year, against 13.3% for SPY.
  • Worst fall: -57.8%, from the close on 18 June 2024 to the low on 4 April 2025 (290 days). Getting back to that high took another 161 days, to 12 September 2025. SPY's worst fall was -34.1%.
  • How often holding ended higher: 70% of 1-year holds (worst -48%) and 99% of 5-year holds (worst -9%).
  • Monthly buying against a lump sum: over the past 10 years, $100 a month ($12,100 in total) would have grown to $176,791. The same money in on day one would have grown to $608,988; in SPY, monthly buying ends at $24,571 and the lump sum at $42,078.

Price only: no dividends, fees or tax. Daily closes, 10 November 2016 to 3 November 2026. SPY is an S&P 500 fund.

What this does and does not tell you

Profit tells you what the business earned. The price history tells you what shareholders were paid for holding it. Those two can drift apart for years, and neither says what comes next.

This is one company over one stretch of history: an in-sample look at the past, not a promise. It is general information, not a call to buy or sell MU, and it sets no price target.

More

The other 24 are in The 25 biggest US stocks. To check any other stock, use the long-term checker.

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