MU MICRON TECHNOLOGY INC

Overview and Growth

MICRON TECHNOLOGY INC generated $133.19B of revenue in fiscal 2026, with net income of $84.97B and an operating cash inflow of $89.67B. At $133.19B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Revenue was 256.3% above fiscal 2025 revenue of $37.38B, marking a year-over-year increase. Diluted earnings per share were $74.33, translating the period’s attributable earnings into the amount reported for each diluted share. The per-share result recorded a 879.3% increase from fiscal 2025 diluted EPS of $7.59. Asset turnover was 0.68x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

The first profit layer was $107.50B of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. The gross-profit relationship equaled 80.7% of revenue, quantifying the portion retained before operating expenses were recognized. The reported operating result was $99.34B, capturing profitability after direct costs and the operating expenses reflected in the statements. The operating result equaled 74.6% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. After all reported below-operating-line items, the company recorded net income of $84.97B for the fiscal year. Measured against reported revenue, net income produced a 63.8% margin after operating costs and the remaining recognized items. The company recognized $14.76B of income tax for the period, completing the transition from pretax income to net income. Net income equaled 61.4% of period-end equity, showing the earnings generated on shareholders’ book capital. Net income represented 43.4% of period-end assets, placing the company’s bottom-line result against the total resource base employed.

Liquidity and Capital Structure

Total assets were $195.89B, supported by $57.51B of liabilities and $138.38B of shareholder equity. Current assets were $91.07B against $27.48B of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. The current ratio was 3.31x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. The company held $38.36B in cash and equivalents, a narrower liquidity measure than total current assets. The cash balance equaled 139.6% of current liabilities, showing how much near-term coverage came from cash alone. Total debt was $3.28B, establishing the amount of borrowing carried within the company’s capital structure. Debt equaled 0.02x of book equity, describing the relative scale of borrowing and shareholder capital. Relative to total assets, debt measured 1.7%, showing how much of the asset base was matched by borrowing. Relative to total assets, liabilities measured 29.4%, complementing the separate equity-based view of the company’s capital structure. Measured against total assets, cash and equivalents represented 19.6%, a balance-sheet composition measure rather than a liquidity forecast. The asset base changed 136.6% from $82.80B in fiscal 2025, leaving current total assets higher year over year. Book equity was 155.5% higher than fiscal 2025 equity of $54.16B, showing how shareholder capital changed year over year.

Cash Flow and Earnings Quality

The company reported $89.67B of operating cash flow, a cash inflow that shows the cash generated by operations. Operating cash flow equaled 1.06x of net income, showing how strongly accounting earnings converted into cash from operations. Capital spending was $30.71B, absorbing part of the cash generated from operations before free cash flow. Capital expenditures represented 34.2% of operating cash flow, leaving the remainder available as free cash flow. Free cash flow came to $58.96B, leaving a positive amount after capital expenditures. Free cash flow represented 44.3% of revenue, linking post-investment cash generation with the company’s operating scale. The free-cash-flow-to-assets relationship was 30.1%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending Sep 3, 2026. Analysis generated Oct 21, 2026.