{ "ticker": "MU", "cik": "0000723125", "company": "Micron Technology, Inc.", "business_type": "industrial", "schema_template": "Standard industrial/technology template, extended for a memory semiconductor manufacturer: capital intensity (capital expenditures, depreciation and amortization), inventories, receivables, total debt versus cash and investments, and revenue and operating income by business unit, so the DRAM/NAND cycle is legible.", "reporting_currency": "USD", "converted_to_usd": false, "units": "actual dollars (not millions); per-share figures in actual dollars; share counts in actual shares", "fiscal_calendar": "Fiscal year is the 52- or 53-week period ending on the Thursday closest to August 31. Fiscal 2023, 2024 and 2025 each contained 52 weeks. Fiscal 2026 contains 53 weeks: the third quarter of 2026 contains 13 weeks and the fourth quarter of 2026 contains 14 weeks.", "units_notes_seen": { "FY2025 10-K consolidated statements of operations": "(In millions, except per share amounts)", "FY2025 10-K consolidated statements of comprehensive income (loss)": "(In millions)", "FY2025 10-K consolidated balance sheets": "(In millions, except par value amounts)", "FY2025 10-K consolidated statements of changes in equity": "(In millions, except per share amounts)", "FY2025 10-K consolidated statements of cash flows": "(In millions)", "FY2025 10-K notes to consolidated financial statements (including the segment note)": "(All tabular amounts in millions, except per share amounts)", "FY2025 10-K Management's Discussion and Analysis tables": "All tabular dollar amounts are in millions, except per share amounts.", "Q3 FY2026 10-Q consolidated statements of operations": "(In millions, except per share amounts) (Unaudited)", "Q3 FY2026 10-Q consolidated statements of comprehensive income (loss)": "(In millions) (Unaudited)", "Q3 FY2026 10-Q consolidated balance sheets": "(In millions, except par value amounts) (Unaudited)", "Q3 FY2026 10-Q consolidated statements of changes in equity": "(In millions, except per share amounts)", "Q3 FY2026 10-Q consolidated statements of cash flows": "(In millions) (Unaudited)", "Q3 FY2026 10-Q notes to consolidated financial statements (including the segment and debt notes)": "(All tabular amounts in millions, except per share amounts) (Unaudited)", "Q3 FY2026 10-Q Management's Discussion and Analysis tables": "All tabular dollar amounts are in millions, except per share amounts." }, "adjustments": { "splits_applied": [], "splits_note": "No stock splits fall within the reference window for Micron, so no split adjustment was applied to any per-share figure. 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"AEBU_automotive_and_embedded": 265000000, "all_other": 1000000, "unallocated": -775000000, "total": 6116000000 }, "product_revenue_by_technology": { "dram": 19594000000, "nand": 6251000000, "other_primarily_nor": 218000000, "total": 26063000000, "source": "Q3 FY2026 10-Q (accession 0000723125-26-000015), Note 14 Revenue and Customer Contract Liabilities, Revenue by Technology" }, "other": { "depreciation_and_amortization_in_operating_income": 6203000000 } } ], "trailing_twelve_months": { "label": "Trailing twelve months ended May 28, 2026", "period_end": "2026-05-28", "derived": true, "method": "Fiscal 2025 full year, less the nine months ended May 29, 2025, plus the nine months ended May 28, 2026.", "source_accessions": [ "0000723125-25-000028", "0000723125-26-000015" ], "revenue": 90274000000, "cost_of_goods_sold": 24763000000, "gross_margin": 65511000000, "gross_margin_pct": 72.6, "research_and_development": 4784000000, "operating_income": 59243000000, "operating_margin_pct": 65.6, "net_income": 50469000000, "operating_cash_flow": 51432000000, "capex": 25260000000, "free_cash_flow": 26172000000, "depreciation_and_amortization": 9011000000, "diluted_eps_approx": 44.24, "diluted_eps_note": "Built the same way as the trailing-twelve-month dollar figures above: fiscal 2025 diluted earnings per share of $7.59, less $4.75 for the nine months ended May 29, 2025, plus $41.40 for the nine months ended May 28, 2026. Because the weighted-average diluted share count differs from period to period, per-share amounts are not strictly additive, so this is an approximation rather than a weighted calculation." }, "forward_looking_from_filings": { "fy2026_capex_estimate": 27000000000, "fy2026_capex_note": "The Q3 FY2026 10-Q states that Micron estimates capital expenditures for property, plant, and equipment, net of proceeds from government incentives, of approximately $27 billion in fiscal 2026.", "dividend_declared_after_quarter_end": 0.15, "dividend_declared_after_quarter_end_note": "On June 24, 2026, the Board declared a quarterly dividend of $0.15 per share, payable July 21, 2026 to shareholders of record as of July 6, 2026, as disclosed in the Q3 FY2026 10-Q.", "purchase_obligations_for_ppe": 2930000000, "revolving_credit_available": 2000000000 }, "notes": [ "Template: the standard industrial/technology line items, extended with the disclosures that make a memory manufacturer legible - capital expenditures and depreciation against operating cash flow, inventories and receivables, total debt against cash and investments, and revenue, gross margin and operating income by business unit. Micron reorganized into four market-focused business units (Cloud Memory, Core Data Center, Mobile and Client, Automotive and Embedded) effective in the fourth quarter of fiscal 2025, and the FY2025 10-K retrospectively restated fiscal 2024 and 2023 segment amounts onto that structure. The segment figures reported here for all three years are on that restated basis, and the 10-K states there were no changes to the consolidated financial statements for any prior period.", "All figures are stated in actual dollars. Every statement in both filings is presented in millions (the income statement, balance sheet and equity statement adding 'except per share amounts' or 'except par value amounts'), and the notes and Management's Discussion sections state that all tabular amounts are in millions. Share counts on the face of the income statement are therefore also in millions, and were scaled accordingly - 1,125 on the FY2025 income statement means 1,125,000,000 diluted shares.", "Annual coverage: the FY2025 10-K's income statement and cash flow statement present three fiscal years (2025, 2024 and 2023) and its balance sheet presents two (August 28, 2025 and August 29, 2024). Fiscal 2023 is therefore reported here without a full balance sheet; total equity of $44.120 billion and 1,239 million shares issued as of August 31, 2023 are taken from the same 10-K's consolidated statements of changes in equity, which covers all three years.", "Quarterly coverage: the Q3 FY2026 10-Q presents the quarter and nine months ended May 28, 2026 with prior-year comparatives, and its Management's Discussion adds a second-quarter fiscal 2026 column. The first quarter of fiscal 2026 is not shown as its own column and is derived here by subtraction from figures in that same 10-Q; it is flagged as derived.", "Free cash flow is defined here as net cash provided by operating activities less expenditures for property, plant, and equipment as reported in the cash flow statement. Micron separately reports proceeds from government incentives within investing activities ($2.005 billion in fiscal 2025 and $2.989 billion in the first nine months of fiscal 2026); those proceeds are listed separately above and are not netted against capital expenditures in the free cash flow figure. Note that the company's own fiscal 2026 capital expenditure estimate of approximately $27 billion is stated net of government incentives, so it is not directly comparable to the gross cash flow statement figure.", "Total debt is current debt plus long-term debt from the balance sheet, which the debt note confirms: $14.577 billion as of August 28, 2025 ($560 million current, $14.017 billion long-term) and $5.722 billion as of May 28, 2026 ($582 million current, $5.140 billion long-term). Micron repaid $9.38 billion of debt in the first nine months of fiscal 2026, prepaying several note series in full; finance lease obligations of $2.670 billion are the largest remaining component of the May 28, 2026 balance. The net cash position shown is cash and equivalents plus short-term investments plus long-term marketable investments, less total debt: a $2.641 billion net debt position at the fiscal 2025 year end became $24.406 billion of net cash by May 28, 2026.", "Dividends: Micron declared $0.460 per share in each of fiscal 2023, 2024 and 2025 (four quarterly dividends of $0.115). It declared $0.115 per share in each of the first two quarters of fiscal 2026 and raised the quarterly rate to $0.15 per share in the third quarter, for $0.38 per share declared in the first nine months of fiscal 2026. Cash dividends paid were $504 million, $513 million and $522 million in fiscal 2023, 2024 and 2025 and $437 million in the first nine months of fiscal 2026.", "Fiscal 2026 is a 53-week year. The 10-Q states the third quarter contains 13 weeks and the fourth quarter contains 14 weeks, so the fourth quarter carries one extra week relative to prior years - relevant when comparing fourth-quarter or full-year fiscal 2026 figures with fiscal 2025.", "Revenue by technology (DRAM, NAND, and other - primarily NOR) is taken from the revenue note in each filing: Note 21 of the FY2025 10-K (accession 0000723125-25-000028) for fiscal 2025, 2024 and 2023, and Note 14 of the Q3 FY2026 10-Q (accession 0000723125-26-000015) for the third quarter and first nine months of fiscal 2026 and their prior-year comparatives. These are exact amounts that foot to reported total revenue in every period. DRAM has driven the up-cycle: it grew from $10.978 billion in fiscal 2023 to $28.578 billion in fiscal 2025, and reached $31.328 billion in the third quarter of fiscal 2026 alone.", "Cross-checks against the SEC's XBRL company facts found no disagreement on any figure taken from these two filings: revenue, net income, diluted earnings per share, diluted share counts, total assets, total equity, operating cash flow, capital expenditures and operating income all matched the filings for every period reported. The XBRL data also independently corroborates the derived first-quarter fiscal 2026 amounts.", "Interest expense for the third quarter of fiscal 2026 is reported as zero on the face of the income statement, reflecting the debt prepayments during the year; interest expense for the first nine months of fiscal 2026 was $106 million.", "The 10-Q discloses that Micron entered into take-or-pay strategic customer agreements in the third and fourth quarters of fiscal 2026 with binding multi-year volume commitments and, for most agreements, fixed pricing or price bands. This is context for the sharp rise in receivables (from $9.265 billion to $31.025 billion) and in other noncurrent liabilities (from $1.443 billion to $7.086 billion) over the first nine months of fiscal 2026." ], "uncertainties": [ "Fiscal 2023 has no balance sheet in the latest 10-K beyond total equity and shares issued carried in the statement of changes in equity, so fiscal 2023 cash, total assets and total debt are left empty rather than estimated.", "First-quarter fiscal 2026 revenue, operating income and net income are derived by subtraction from the nine-month and quarterly columns of the Q3 FY2026 10-Q rather than read directly from a filed first-quarter column. They agree with the SEC's XBRL company facts, but no first-quarter balance sheet, cash flow or per-share figures are reported here.", "The second quarter of fiscal 2026 is sourced from the comparative columns in the Q3 FY2026 10-Q's Management's Discussion, which give the income statement and segment detail but no balance sheet or cash flow, so those are absent for that quarter.", "Quarterly cash flow data is only available on a nine-month cumulative basis, because the 10-Q's cash flow statement is presented for the nine months only. No standalone third-quarter operating cash flow or capital expenditure figure is reported here.", "The trailing-twelve-month block is arithmetic on reported periods rather than a figure any single filing presents. The per-share amount in particular is built the same way as the trailing-twelve-month dollar figures - fiscal 2025 diluted earnings per share of $7.59, less $4.75 for the nine months ended May 29, 2025, plus $41.40 for the nine months ended May 28, 2026. Because the weighted-average diluted share count differs from period to period, per-share amounts are not strictly additive, so this is an approximation rather than a true weighted calculation.", "Revenue by technology is disclosed only in total-company form. Neither filing splits DRAM and NAND revenue by business unit, so the technology mix within each of the four segments cannot be determined from these filings." ], "company_details": { "Name": "Micron Technology Inc", "Ticker": "MU", "CIK": "0000723125", "Exchange": "Nasdaq", "State": "Idaho", "Incorporation": "Delaware", "SIC": "3674", "Office": "Manufacturing", "Industry": "Semiconductors & Related Devices" }, "next_filing": { "predicted_date": "2026-10-09", "predicted_type": "10-K" }, "fiscal_period": { "fiscal_year": 2026, "fiscal_period": "Q3", "tag": "FY26Q3", "period_end": "2026-05-28", "form": "10-Q", "accession": "0000723125-26-000015", "fiscal_year_end": "0903", "source": "facts" } }