Micron Technology, Inc. (MU) Q3 FY2026 Financial Statements: Revenue $41.46B, Net income $28.24B
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PeriodQ3 FY2026
Published
Micron Technology reported $41.46 billion in revenue for Q3 FY2026, the quarter ended May 28, 2026, up 345.7% from $9.30 billion a year earlier, and net income of $28.24 billion, or $24.67 per diluted share. Gross margin reached 84.6% of revenue, up 46.9 points, with the gain coming from memory pricing rather than volume: DRAM revenue was $31.33 billion, up 343.0%, on average selling prices that rose far more than bit shipments. Micron also described multi-year take-or-pay customer agreements whose largest contracts carry a floor price through the term and a ceiling on existing products near mid-2026 market prices, a structure it expects to make margins more durable than in past memory cycles.
| Metric | Amount | vs. year ago |
|---|---|---|
| Revenue | $41,456,000,000 | up 345.7% |
| Net income | $28,243,000,000 | up 1,398.3% |
| Diluted EPS | $24.67 | up 1,368.5% |
| Gross margin | 84.6% | up 46.9 points |
| DRAM revenue | $31,328,000,000 | up 343.0% |
About this file
| 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 | no |
| 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. |
MU annual income statement, balance sheet and cash flow
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Fiscal year | 2025 | 2024 | 2023 |
| Period start | 2024-08-30 | 2023-09-01 | 2022-09-02 |
| Period end | 2025-08-28 | 2024-08-29 | 2023-08-31 |
| Weeks in period | 52 | 52 | 52 |
| Source accession | 0000723125-25-000028 | 0000723125-25-000028 | 0000723125-25-000028 |
| Source form | 10-K | 10-K | 10-K |
| Income statement | |||
| Revenue | 37,378,000,000 | 25,111,000,000 | 15,540,000,000 |
| Cost of goods sold | 22,505,000,000 | 19,498,000,000 | 16,956,000,000 |
| Gross margin | 14,873,000,000 | 5,613,000,000 | -1,416,000,000 |
| Gross margin % | 39.8% | 22.4% | -9.1% |
| Research and development | 3,798,000,000 | 3,430,000,000 | 3,114,000,000 |
| Selling general and administrative | 1,205,000,000 | 1,129,000,000 | 920,000,000 |
| Restructure and asset impairments | 39,000,000 | 1,000,000 | 171,000,000 |
| Other operating expense net | 61,000,000 | -251,000,000 | 124,000,000 |
| Operating income | 9,770,000,000 | 1,304,000,000 | -5,745,000,000 |
| Interest income | 496,000,000 | 529,000,000 | 468,000,000 |
| Interest expense | -477,000,000 | -562,000,000 | -388,000,000 |
| Other non operating income expense net | -135,000,000 | -31,000,000 | 7,000,000 |
| Pretax income | 9,654,000,000 | 1,240,000,000 | -5,658,000,000 |
| Income tax provision | -1,124,000,000 | -451,000,000 | -177,000,000 |
| Equity in net income of equity method investees | 9,000,000 | -11,000,000 | 2,000,000 |
| Net income | 8,539,000,000 | 778,000,000 | -5,833,000,000 |
| Basic EPS | 7.65 | 0.7 | -5.34 |
| Diluted EPS | 7.59 | 0.7 | -5.34 |
| Basic shares | 1,116,000,000 | 1,105,000,000 | 1,093,000,000 |
| Diluted shares | 1,125,000,000 | 1,118,000,000 | 1,093,000,000 |
| Balance sheet | |||
| Cash and cash equivalents | 9,642,000,000 | 7,041,000,000 | n/a |
| Short term investments | 665,000,000 | 1,065,000,000 | |
| Long term marketable investments | 1,629,000,000 | 1,046,000,000 | |
| Cash and investments total | 11,936,000,000 | 9,152,000,000 | |
| Receivables | 9,265,000,000 | 6,615,000,000 | |
| Inventories | 8,355,000,000 | 8,875,000,000 | |
| Total current assets | 28,841,000,000 | 24,372,000,000 | |
| Property plant and equipment net | 46,590,000,000 | 39,749,000,000 | |
| Goodwill | 1,150,000,000 | 1,150,000,000 | |
| Total assets | 82,798,000,000 | 69,416,000,000 | n/a |
| Accounts payable and accrued expenses | 9,649,000,000 | 7,299,000,000 | |
| Current debt | 560,000,000 | 431,000,000 | |
| Total current liabilities | 11,454,000,000 | 9,248,000,000 | |
| Long term debt | 14,017,000,000 | 12,966,000,000 | |
| Total debt | 14,577,000,000 | 13,397,000,000 | n/a |
| Total liabilities | 28,633,000,000 | 24,285,000,000 | |
| Total equity | 54,165,000,000 | 45,131,000,000 | 44,120,000,000 |
| Net cash debt position | -2,641,000,000 | -4,245,000,000 | |
| Shares issued | 1,266,000,000 | 1,253,000,000 | 1,239,000,000 |
| Shares outstanding | 1,122,000,000 | 1,109,000,000 | |
| Note | The FY2025 10-K presents only two balance sheet dates (August 28, 2025 and August 29, 2024), so no full FY2023 balance sheet is available from it. Total equity and shares issued as of August 31, 2023 come from the same 10-K's consolidated statements of changes in equity, which covers three years. | ||
| Cash flow | |||
| Net income | 8,539,000,000 | 778,000,000 | -5,833,000,000 |
| Depreciation and amortization | 8,352,000,000 | 7,780,000,000 | 7,756,000,000 |
| Stock based compensation | 972,000,000 | 833,000,000 | 596,000,000 |
| Operating cash flow | 17,525,000,000 | 8,507,000,000 | 1,559,000,000 |
| Capex | 15,857,000,000 | 8,386,000,000 | 7,676,000,000 |
| Free cash flow | 1,668,000,000 | 121,000,000 | -6,117,000,000 |
| Proceeds from government incentives | 2,005,000,000 | 315,000,000 | 710,000,000 |
| Investing cash flow | -14,087,000,000 | -8,309,000,000 | -6,191,000,000 |
| Financing cash flow | -850,000,000 | -1,842,000,000 | 4,983,000,000 |
| Dividends paid | 522,000,000 | 513,000,000 | 504,000,000 |
| Share repurchases program | 0 | 300,000,000 | 425,000,000 |
| Proceeds from issuance of debt | 4,430,000,000 | 999,000,000 | 6,716,000,000 |
| Repayments of debt | 4,619,000,000 | 1,897,000,000 | 761,000,000 |
| Inventory write down to net realizable value | 1,831,000,000 | ||
| Goodwill impairment | 101,000,000 | ||
| Per share | |||
| Dividends declared per share | 0.46 | 0.46 | 0.46 |
| Segment revenue | |||
| CMBU cloud memory | 13,524,000,000 | 3,792,000,000 | 1,872,000,000 |
| CDBU core data center | 7,229,000,000 | 4,984,000,000 | 2,124,000,000 |
| MCBU mobile and client | 11,859,000,000 | 11,667,000,000 | 7,394,000,000 |
| AEBU automotive and embedded | 4,753,000,000 | 4,631,000,000 | 4,139,000,000 |
| All other | 13,000,000 | 37,000,000 | 11,000,000 |
| Total | 37,378,000,000 | 25,111,000,000 | 15,540,000,000 |
| Segment operating income | |||
| CMBU cloud memory | 6,129,000,000 | 244,000,000 | -768,000,000 |
| CDBU core data center | 2,180,000,000 | 255,000,000 | -563,000,000 |
| MCBU mobile and client | 1,981,000,000 | -1,000,000 | -3,189,000,000 |
| AEBU automotive and embedded | 557,000,000 | 432,000,000 | 680,000,000 |
| All other | -1,000,000 | 18,000,000 | 8,000,000 |
| Unallocated | -1,076,000,000 | 356,000,000 | -1,913,000,000 |
| Total | 9,770,000,000 | 1,304,000,000 | -5,745,000,000 |
| Segment gross margin | |||
| CMBU cloud memory | 7,657,000,000 | 1,115,000,000 | 71,000,000 |
| CDBU core data center | 3,234,000,000 | 1,346,000,000 | 157,000,000 |
| MCBU mobile and client | 3,209,000,000 | 1,445,000,000 | -1,678,000,000 |
| AEBU automotive and embedded | 1,187,000,000 | 1,033,000,000 | 1,234,000,000 |
| All other | -1,000,000 | 17,000,000 | 7,000,000 |
| Unallocated | -413,000,000 | 657,000,000 | -1,207,000,000 |
| Total | 14,873,000,000 | 5,613,000,000 | -1,416,000,000 |
| Product revenue by technology | |||
| Dram | 28,578,000,000 | 17,603,000,000 | 10,978,000,000 |
| Nand | 8,503,000,000 | 7,227,000,000 | 4,206,000,000 |
| Other primarily nor | 297,000,000 | 281,000,000 | 356,000,000 |
| Total | 37,378,000,000 | 25,111,000,000 | 15,540,000,000 |
| Source | FY2025 10-K (accession 0000723125-25-000028), Note 21 Revenue and Customer Contract Liabilities, Revenue by Technology | FY2025 10-K (accession 0000723125-25-000028), Note 21 Revenue and Customer Contract Liabilities, Revenue by Technology | FY2025 10-K (accession 0000723125-25-000028), Note 21 Revenue and Customer Contract Liabilities, Revenue by Technology |
MU quarterly income statement, balance sheet and cash flow
| Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q3 FY2025 (prior-year comparative) | |
|---|---|---|---|---|
| Label | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q3 FY2025 (prior-year comparative) |
| Period start | 2026-02-27 | 2025-11-28 | 2025-08-29 | 2025-02-28 |
| Period end | 2026-05-28 | 2026-02-26 | 2025-11-27 | 2025-05-29 |
| Weeks in period | 13 | 13 | ||
| Source accession | 0000723125-26-000015 | 0000723125-26-000015 | 0000723125-26-000015 | 0000723125-26-000015 |
| Source form | 10-Q | 10-Q | 10-Q | 10-Q |
| Income statement | ||||
| Revenue | 41,456,000,000 | 23,860,000,000 | 13,643,000,000 | 9,301,000,000 |
| Cost of goods sold | 6,400,000,000 | 6,105,000,000 | 5,793,000,000 | |
| Gross margin | 35,056,000,000 | 17,755,000,000 | 3,508,000,000 | |
| Gross margin % | 84.6% | 74.4% | 37.7% | |
| Research and development | 1,316,000,000 | 1,250,000,000 | 965,000,000 | |
| Selling general and administrative | 407,000,000 | 344,000,000 | 318,000,000 | |
| Other operating expense net | 15,000,000 | 26,000,000 | 56,000,000 | |
| Operating income | 33,318,000,000 | 16,135,000,000 | 6,136,000,000 | 2,169,000,000 |
| Operating margin % | 80.4% | 67.6% | 23.3% | |
| Interest income | 215,000,000 | 135,000,000 | ||
| Interest expense | 0 | -123,000,000 | ||
| Other non operating income expense net | -321,000,000 | -98,000,000 | -68,000,000 | |
| Pretax income | 33,212,000,000 | 2,113,000,000 | ||
| Income tax provision | -4,978,000,000 | -2,371,000,000 | -235,000,000 | |
| Equity in net income of equity method investees | 9,000,000 | -4,000,000 | 7,000,000 | |
| Net income | 28,243,000,000 | 13,785,000,000 | 5,240,000,000 | 1,885,000,000 |
| Basic EPS | 25.03 | 1.69 | ||
| Diluted EPS | 24.67 | 1.68 | ||
| Basic shares | 1,128,000,000 | 1,118,000,000 | ||
| Diluted shares | 1,145,000,000 | 1,125,000,000 | ||
| Balance sheet | ||||
| As of | 2026-05-28 | |||
| Cash and cash equivalents | 24,995,000,000 | |||
| Short term investments | 1,027,000,000 | |||
| Long term marketable investments | 4,106,000,000 | |||
| Cash and investments total | 30,128,000,000 | |||
| Receivables | 31,025,000,000 | |||
| Inventories | 8,567,000,000 | |||
| Total current assets | 66,737,000,000 | |||
| Property plant and equipment net | 56,426,000,000 | |||
| Goodwill | 1,150,000,000 | |||
| Total assets | 134,112,000,000 | |||
| Accounts payable and accrued expenses | 15,521,000,000 | |||
| Current debt | 582,000,000 | |||
| Total current liabilities | 19,488,000,000 | |||
| Long term debt | 5,140,000,000 | |||
| Total debt | 5,722,000,000 | |||
| Total liabilities | 33,388,000,000 | |||
| Total equity | 100,724,000,000 | |||
| Net cash debt position | 24,406,000,000 | |||
| Shares issued | 1,275,000,000 | |||
| Shares outstanding | 1,129,000,000 | |||
| Per share | ||||
| Dividends declared per share | 0.15 | 0.115 | 0.115 | 0.115 |
| Segment revenue | ||||
| CMBU cloud memory | 13,769,000,000 | 7,749,000,000 | 3,386,000,000 | |
| CDBU core data center | 11,524,000,000 | 5,687,000,000 | 1,530,000,000 | |
| MCBU mobile and client | 11,521,000,000 | 7,711,000,000 | 3,255,000,000 | |
| AEBU automotive and embedded | 4,634,000,000 | 2,708,000,000 | 1,127,000,000 | |
| All other | 8,000,000 | 5,000,000 | 3,000,000 | |
| Total | 41,456,000,000 | 23,860,000,000 | 9,301,000,000 | |
| Segment operating income | ||||
| CMBU cloud memory | 10,793,000,000 | 5,127,000,000 | 1,573,000,000 | |
| CDBU core data center | 9,519,000,000 | 3,809,000,000 | 307,000,000 | |
| MCBU mobile and client | 9,873,000,000 | 5,836,000,000 | 482,000,000 | |
| AEBU automotive and embedded | 3,493,000,000 | 1,682,000,000 | 126,000,000 | |
| All other | 3,000,000 | 1,000,000 | 2,000,000 | |
| Unallocated | -363,000,000 | -320,000,000 | -321,000,000 | |
| Total | 33,318,000,000 | 16,135,000,000 | 2,169,000,000 | |
| Segment gross margin | ||||
| CMBU cloud memory | 11,491,000,000 | |||
| CDBU core data center | 9,987,000,000 | |||
| MCBU mobile and client | 10,058,000,000 | |||
| AEBU automotive and embedded | 3,659,000,000 | |||
| All other | 4,000,000 | |||
| Unallocated | -143,000,000 | |||
| Total | 35,056,000,000 | |||
| Product revenue by technology | ||||
| Dram | 31,328,000,000 | 7,071,000,000 | ||
| Nand | 9,943,000,000 | 2,155,000,000 | ||
| Other primarily nor | 185,000,000 | 75,000,000 | ||
| Total | 41,456,000,000 | 9,301,000,000 | ||
| Source | Q3 FY2026 10-Q (accession 0000723125-26-000015), Note 14 Revenue and Customer Contract Liabilities, Revenue by Technology | 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 | 2,364,000,000 | 2,094,000,000 | ||
| Note | The second quarter of fiscal 2026 is presented as a comparative column in the Q3 FY2026 10-Q's Management's Discussion and Analysis (consolidated results, revenue by business unit and operating income by business unit). The 10-Q's audited-style statements themselves show only the quarter and nine months, so no separate Q2 balance sheet or cash flow is repeated here. | Not shown as its own column in the Q3 FY2026 10-Q. These figures are the arithmetic difference between the nine months ended May 28, 2026 and the second and third quarters of fiscal 2026, both of which the same 10-Q reports. They agree with the amounts in the SEC's XBRL company facts for the first quarter of fiscal 2026. | ||
| Derived | yes | |||
MU year-to-date income statement and cash flow
| Nine months ended May 28, 2026 (FY2026 YTD) | Nine months ended May 29, 2025 (FY2025 YTD, prior-year comparative) | |
|---|---|---|
| Label | Nine months ended May 28, 2026 (FY2026 YTD) | Nine months ended May 29, 2025 (FY2025 YTD, prior-year comparative) |
| Period start | 2025-08-29 | 2024-08-30 |
| Period end | 2026-05-28 | 2025-05-29 |
| Source accession | 0000723125-26-000015 | 0000723125-26-000015 |
| Source form | 10-Q | 10-Q |
| Income statement | ||
| Revenue | 78,959,000,000 | 26,063,000,000 |
| Cost of goods sold | 18,502,000,000 | 16,244,000,000 |
| Gross margin | 60,457,000,000 | 9,819,000,000 |
| Gross margin % | 76.6% | 37.7% |
| Research and development | 3,737,000,000 | 2,751,000,000 |
| Selling general and administrative | 1,088,000,000 | 891,000,000 |
| Other operating expense net | 43,000,000 | 61,000,000 |
| Operating income | 55,589,000,000 | 6,116,000,000 |
| Operating margin % | 70.4% | 23.5% |
| Interest income | 509,000,000 | 350,000,000 |
| Interest expense | -106,000,000 | -353,000,000 |
| Other non operating income expense net | -559,000,000 | -90,000,000 |
| Pretax income | 55,433,000,000 | 6,023,000,000 |
| Income tax provision | -8,178,000,000 | -695,000,000 |
| Equity in net income of equity method investees | 13,000,000 | 10,000,000 |
| Net income | 47,268,000,000 | 5,338,000,000 |
| Basic EPS | 41.97 | 4.79 |
| Diluted EPS | 41.4 | 4.75 |
| Basic shares | 1,126,000,000 | 1,114,000,000 |
| Diluted shares | 1,142,000,000 | 1,123,000,000 |
| Cash flow | ||
| Net income | 47,268,000,000 | 5,338,000,000 |
| Depreciation and amortization | 6,862,000,000 | 6,203,000,000 |
| Stock based compensation | 954,000,000 | 722,000,000 |
| Change in receivables | -19,953,000,000 | |
| Operating cash flow | 45,702,000,000 | 11,795,000,000 |
| Capex | 19,602,000,000 | 10,199,000,000 |
| Free cash flow | 26,100,000,000 | 1,596,000,000 |
| Proceeds from government incentives | 2,989,000,000 | 1,294,000,000 |
| Investing cash flow | -19,688,000,000 | -8,889,000,000 |
| Financing cash flow | -10,646,000,000 | 214,000,000 |
| Dividends paid | 437,000,000 | 392,000,000 |
| Share repurchases program | 650,000,000 | 0 |
| Proceeds from issuance of debt | 0 | 4,430,000,000 |
| Repayments of debt | 9,380,000,000 | 3,604,000,000 |
| Per share | ||
| Dividends declared per share | 0.38 | 0.345 |
| Segment revenue | ||
| CMBU cloud memory | 26,802,000,000 | 8,981,000,000 |
| CDBU core data center | 19,590,000,000 | 5,652,000,000 |
| MCBU mobile and client | 23,487,000,000 | 8,099,000,000 |
| AEBU automotive and embedded | 9,062,000,000 | 3,319,000,000 |
| All other | 18,000,000 | 12,000,000 |
| Total | 78,959,000,000 | 26,063,000,000 |
| Segment operating income | ||
| CMBU cloud memory | 18,804,000,000 | 3,959,000,000 |
| CDBU core data center | 14,218,000,000 | 1,789,000,000 |
| MCBU mobile and client | 17,726,000,000 | 877,000,000 |
| AEBU automotive and embedded | 5,802,000,000 | 265,000,000 |
| All other | 5,000,000 | 1,000,000 |
| Unallocated | -966,000,000 | -775,000,000 |
| Total | 55,589,000,000 | 6,116,000,000 |
| Product revenue by technology | ||
| Dram | 60,908,000,000 | 19,594,000,000 |
| Nand | 17,683,000,000 | 6,251,000,000 |
| Other primarily nor | 368,000,000 | 218,000,000 |
| Total | 78,959,000,000 | 26,063,000,000 |
| Source | Q3 FY2026 10-Q (accession 0000723125-26-000015), Note 14 Revenue and Customer Contract Liabilities, Revenue by Technology | 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 | 6,862,000,000 | 6,203,000,000 |
MU trailing twelve month income statement and cash flow
| Trailing twelve months ended May 28, 2026 | |
|---|---|
| Label | Trailing twelve months ended May 28, 2026 |
| Period end | 2026-05-28 |
| Derived | yes |
| 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 | 90,274,000,000 |
| Cost of goods sold | 24,763,000,000 |
| Gross margin | 65,511,000,000 |
| Gross margin % | 72.6% |
| Research and development | 4,784,000,000 |
| Operating income | 59,243,000,000 |
| Operating margin % | 65.6% |
| Net income | 50,469,000,000 |
| Operating cash flow | 51,432,000,000 |
| Capex | 25,260,000,000 |
| Free cash flow | 26,172,000,000 |
| Depreciation and amortization | 9,011,000,000 |
| 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. |
Adjustments
| Value | |
|---|---|
| Splits applied | none |
| Splits note | No stock splits fall within the reference window for Micron, so no split adjustment was applied to any per-share figure. All earnings-per-share and share-count figures are exactly as reported in the filings. |
| ADR ratio | n/a |
| ADR note | Micron is a US domestic filer listed on Nasdaq; it is not an ADR, so no ADR-ratio conversion applies. |
| FX | None. Micron reports in US dollars, so no currency conversion was required. |
Forward looking from filings
| Value | |
|---|---|
| Fy2026 capex estimate | 27,000,000,000 |
| 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 | 2,930,000,000 |
| Revolving credit available | 2,000,000,000 |
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
| Value | |
|---|---|
| Name | Micron Technology Inc |
| Ticker | MU |
| CIK | 0000723125 |
| Exchange | Nasdaq |
| State | Idaho |
| Incorporation | Delaware |
| SIC | 3674 |
| Office | Manufacturing |
| Industry | Semiconductors & Related Devices |
Fiscal period
| FY2026 | |
|---|---|
| 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 |
FAQ · Micron Technology financial statements
How much revenue did Micron report in Q3 FY2026?
Micron Technology reported $41.46 billion in revenue for Q3 FY2026, the quarter ended May 28, 2026. That is up 345.7% from $9.30 billion in the same quarter a year earlier, with the increase driven mainly by memory selling prices rather than by bit shipment growth.
How much did Micron earn in Q3 FY2026?
Micron Technology earned $28.24 billion in net income in Q3 FY2026, or $24.67 per diluted share, against $1.89 billion and $1.68 per diluted share a year earlier.
What was Micron's gross margin in Q3 FY2026?
Micron Technology's gross margin was 84.6% of revenue in Q3 FY2026, up 46.9 points from 37.7% a year earlier, as higher memory prices flowed through against a cost of goods sold that grew only modestly.
How much of Micron's revenue came from DRAM in Q3 FY2026?
DRAM accounted for $31.33 billion of Micron Technology's $41.46 billion of revenue in Q3 FY2026, up 343.0% from $7.07 billion a year earlier. NAND and NOR products made up the remainder.
Where can I get Micron Technology, Inc. (MU) financial data in machine-readable form?
Ticker Scout publishes Micron Technology, Inc.'s financial statements as JSON at https://tickerscout.ai/mu/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/mu/narrative.md and https://tickerscout.ai/mu/events.md. Micron Technology, Inc.'s SEC CIK is 0000723125. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.
When does Micron Technology, Inc. (MU) next file with the SEC?
Micron Technology, Inc. (MU) is expected to file its next Form 10-K with the SEC on or around October 2, 2026. That date is a projection rather than a company-announced date: it is derived from Micron Technology, Inc.'s own filing history with the SEC, by taking the date the company filed the same fiscal period a year earlier and adding 52 weeks. The most recent periodic report on file is the 10-Q for Q3 FY2026, the period ended 2026-05-28, SEC accession 0000723125-26-000015.
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How this page was built
This page was built from two of Micron Technology, Inc.'s own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names six such gaps.
A single company files thousands of pages with the SEC in a year, and no two companies file them the same way, so the reading and the assembly here are done by AI rather than by rules that break on the differences. Every pass is then audited back against the filings it came from before the page is published, and anything the filings do not support is left out and named rather than filled in. AI can still make mistakes. That is why the accession numbers are printed: the filing is the authority, and this page is a route to it.
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Built from Micron Technology, Inc.'s SEC filings by Ticker Scout; accession numbers are cited throughout so every figure can be checked against sec.gov. Free to cite with attribution: Ticker Scout (tickerscout.ai). Not investment advice, see the Disclaimer.