Financials Micron Technology, Inc.

Equities

MU

US5951121038

Semiconductors

Market Closed - Nasdaq Other stock markets 02:30:00 09/12/2025 am IST			After hours 06:29:59 am
246.92 ^USD	+4.09%		246.30	-0.25%

08/12	Bernstein Adjusts Micron Technology Price Target to $270 From $170, Maintains Outperform Rating	MT
08/12	Susquehanna Adjusts Price Target on Micron Technology to $300 From $200, Maintains Positive Rating	MT

Projected Income Statement: Micron Technology, Inc.

Fiscal Period: August	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	27,705	30,758	15,540	25,111	37,378	56,020	65,018	67,591
Change	-	11.02%	-49.48%	61.59%	48.85%	49.87%	16.06%	3.96%
EBITDA ¹	12,497	16,818	2,011	9,084	18,122	34,310	38,924	40,091
Change	-	34.58%	-88.04%	351.72%	99.49%	89.33%	13.45%	3%
EBIT ¹	7,667	10,281	-4,819	1,935	10,846	24,349	29,226	29,122
Change	-	34.09%	-146.87%	140.15%	460.52%	124.5%	20.03%	-0.36%
Interest Paid ¹	-146	-93	80	-33	19	-170	-40	-
Earnings before Tax (EBT) ¹	6,218	9,571	-5,658	1,240	9,654	22,068	22,780	21,981
Change	-	53.92%	-159.12%	121.92%	678.55%	128.59%	3.23%	-3.51%
Net income ¹	5,861	8,687	-5,833	778	8,539	17,850	20,526	18,206
Change	-	48.22%	-167.15%	113.34%	997.56%	109.04%	14.99%	-11.3%
Announcement Date	28/09/21	29/09/22	27/09/23	25/09/24	23/09/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: August	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4
Net sales ¹	5,773	6,236	7,422	8,274	7,687	7,786	8,642	6,643	4,085	3,693	3,752	4,010	4,726	5,824	6,811	7,750	8,709	8,053	9,301	11,315	12,713	13,487	14,335	15,267	16,494	16,666	17,021	17,521
Change	-	8.02%	19.02%	11.48%	-7.09%	1.29%	10.99%	-23.13%	-38.51%	-9.6%	1.6%	6.88%	17.86%	23.23%	16.95%	13.79%	12.37%	-7.53%	15.5%	21.65%	12.36%	6.09%	6.28%	6.51%	8.03%	1.04%	2.13%	2.94%
EBITDA ¹	2,353	2,212	3,356	4,576	4,302	4,288	4,825	3,403	1,712	-361	195	465	787	2,115	2,674	3,508	4,204	3,852	4,263	5,803	7,276	8,200	9,253	10,024	11,579	14,925	14,496	13,421
Change	-	-5.99%	51.72%	36.35%	-5.99%	-0.33%	12.52%	-29.47%	-49.69%	-121.09%	154.02%	138.46%	69.25%	168.74%	26.43%	31.19%	19.84%	-8.37%	10.67%	36.12%	25.38%	12.7%	12.85%	8.33%	15.51%	28.9%	-2.88%	-7.41%
EBIT ¹	973	1,257	2,364	3,073	2,725	2,750	3,144	1,662	-65	-2,077	-1,469	-1,208	-955	204	941	1,745	2,394	2,007	2,490	3,955	5,256	5,796	6,388	6,909	7,508	7,509	7,589	7,869
Change	-	29.19%	88.07%	29.99%	-11.32%	0.92%	14.33%	-47.14%	-103.91%	-3,095.38%	29.27%	17.77%	20.94%	121.36%	361.27%	85.44%	37.19%	-16.17%	24.07%	58.84%	32.9%	10.27%	10.2%	8.15%	8.68%	0.01%	1.07%	3.69%
Charge d'intérêts	-38	-32	-38	-38	-35	-43	-24	9	37	30	8	5	-	-21	-14	-5	-11	-4	12	22	-	-	-	-	-8.5	-8.5	-8.5	-8.5
Earnings before Tax (EBT) ¹	841	635	1,806	2,936	2,521	2,509	2,988	1,553	-176	-2,271	-1,753	-1,458	-1,155	170	715	1,510	2,152	1,758	2,113	3,631	4,942	5,597	6,368	6,935	7,365	7,234	7,194	6,932
Change	-	-24.49%	184.41%	62.57%	-14.13%	-0.48%	19.09%	-48.03%	-111.33%	-1,190.34%	22.81%	16.83%	20.78%	114.72%	320.59%	111.19%	42.52%	-18.31%	20.19%	71.84%	36.12%	13.24%	13.77%	8.91%	6.2%	-1.78%	-0.55%	-3.64%
Net income ¹	803	603	1,735	2,720	2,306	2,263	2,626	1,492	-195	-2,312	-1,896	-1,430	-1,234	793	332	887	1,870	1,583	1,885	3,201	4,092	4,323	4,761	5,191	5,672	5,661	5,894	6,042
Change	-	-24.91%	187.73%	56.77%	-15.22%	-1.86%	16.04%	-43.18%	-113.07%	-1,085.64%	17.99%	24.58%	13.71%	164.26%	-58.13%	167.17%	110.82%	-15.35%	19.08%	69.81%	27.83%	5.64%	10.14%	9.03%	9.26%	-0.19%	4.11%	2.53%
Announcement Date	07/01/21	31/03/21	30/06/21	28/09/21	20/12/21	29/03/22	30/06/22	29/09/22	21/12/22	28/03/23	28/06/23	27/09/23	20/12/23	20/03/24	26/06/24	25/09/24	18/12/24	20/03/25	25/06/25	23/09/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Micron Technology, Inc.

Fiscal Period: August	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	-3,688	-4,149	3,736	5,291	4,270	-4,439	-21,975	-40,620
Change	-	-12.5%	190.05%	41.62%	-19.3%	-203.96%	-395.04%	-84.85%
Announcement Date	28/09/21	29/09/22	27/09/23	25/09/24	23/09/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Micron Technology, Inc.

Fiscal Period: August	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	10,030	12,067	7,676	8,386	15,857	18,983	20,233	20,392
Change	-	20.31%	-36.39%	9.25%	89.09%	19.72%	6.59%	0.78%
Free Cash Flow (FCF) ¹	2,438	3,114	-6,117	121	1,668	8,846	12,603	14,276
Change	-	27.73%	-296.44%	101.98%	1,278.51%	430.34%	42.47%	13.28%
Announcement Date	28/09/21	29/09/22	27/09/23	25/09/24	23/09/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Micron Technology, Inc.

Fiscal Period: August	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	45.11%	54.68%	12.94%	36.18%	48.48%	60.79%	58.96%	57.15%
EBIT Margin (%)	27.67%	33.43%	-31.01%	7.71%	29.02%	43.14%	44.27%	41.51%
EBT Margin (%)	22.44%	31.12%	-36.41%	4.94%	25.83%	39.1%	34.51%	31.33%
Net margin (%)	21.16%	28.24%	-37.54%	3.1%	22.84%	31.63%	31.09%	25.95%
FCF margin (%)	8.8%	10.12%	-39.36%	0.48%	4.46%	15.67%	19.09%	20.35%
FCF / Net Income (%)	41.6%	35.85%	104.87%	15.55%	19.53%	49.56%	61.4%	78.41%
Profitability
ROA	12.4%	13.88%	-7.45%	1.16%	11.22%	20.6%	15.97%	15.66%
ROE	16.82%	18.51%	-10.34%	1.74%	17.2%	28.83%	27.75%	22.51%
Financial Health
Leverage (Debt/EBITDA)	-	-	1.86x	0.58x	0.24x	-	-	-
Debt / Free cash flow	-	-	-0.61x	43.73x	2.56x	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	36.2%	39.23%	49.4%	33.4%	42.42%	33.64%	30.65%	29.07%
CAPEX / EBITDA (%)	80.26%	71.75%	381.7%	92.32%	87.5%	55.33%	51.98%	50.86%
CAPEX / FCF (%)	411.4%	387.51%	-125.49%	6,930.58%	950.66%	214.6%	160.55%	142.84%
Items per share
Cash flow per share ¹	10.93	13.53	1.426	7.609	15.58	27	33.16	39.5
Change	-	23.79%	-89.46%	433.47%	104.73%	73.34%	22.79%	19.14%
Dividend per Share ¹	0.1	0.43	0.46	0.46	0.46	0.4689	0.5246	0.6109
Change	-	330%	6.98%	0%	0%	1.93%	11.89%	16.44%
Book Value Per Share ¹	38.5	44.48	40.37	40.7	47.89	66.76	90.01	115.1
Change	-	15.53%	-9.25%	0.82%	17.68%	39.4%	34.82%	27.84%
EPS ¹	5.14	7.75	-5.34	0.7	7.59	17.08	19.52	16.83
Change	-	50.78%	-168.9%	113.11%	984.29%	125%	14.32%	-13.77%
Nbr of stocks (in thousands)	11,25,754	11,03,145	10,95,302	11,08,841	11,19,125	11,22,466	11,22,466	11,22,466
Announcement Date	28/09/21	29/09/22	27/09/23	25/09/24	23/09/25	-	-	-