Micron Technology

MTE.DE

Semiconductors · Technology

Price

€828.80

+10.60 (+1.30%)

Market Cap

€936.04B

Exchange

Frankfurt Stock Exchange

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

Data as of Aug 23, 2026 · filings through May 31, 2026

How the score breaks down

Quality

Exceptional

Growth

Exceptional

Cash Flow

Exceptional

Stability

Exceptional

Valuation

Strong

Dividends

Good

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Share count falling — buybacks

−1.4% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 1.14B (2021) → 1.13B (2025)

Winston Score History

The full picture

Micron Technology makes memory chips — the parts inside computers, phones, and servers that store and quickly access data. Its two main products are DRAM (used for fast, temporary storage while a device is running) and NAND flash (used for longer-term storage, like in solid-state drives). Micron sells to large technology companies, data center operators, and device manufacturers around the world.

Micron earns money by selling these chips directly to customers, so its revenue rises and falls with chip prices and demand cycles. The company operates globally, with manufacturing in the United States, Japan, Taiwan, and Singapore, making it one of only three major DRAM producers in the world alongside Samsung and SK Hynix. The biggest growth driver right now is demand for high-bandwidth memory chips used in artificial intelligence hardware, but the memory chip industry is historically cyclical, meaning profits can drop sharply when supply outpaces demand.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+345.2% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

>+1,000% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$3.8B/ year

↑ Rising (+11% vs prior year)

10.2% of revenue

Below sector average (15%)

Investing heavily in future products and technology

Insider Activity

0.4%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$30.1B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Micron Technology grew revenue 345% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

84.6%

Premium pricing power — 84.6% gross margin

Profit after running costs

Operating Margin

80.4%

Excellent — 80.4% operating margin

Return on the money invested

ROCE

56.9%

Exceptional — 56.9% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth

Sales YoY

+166.7%

Fast-growing sales (+166.7% YoY)

Profit growth

EPS YoY

+700.4%

Earnings growing fast (+700.4% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

100%

Turns 100% of profit into real cash

Spare cash per sale

FCF Margin

28.5%

Converts sales into free cash efficiently (28.5%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

0.04

Conservative — low debt load (0.04)

Covers its interest

Interest Cover

269.90x

Comfortably covers interest (269.9x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

18.5x

Fair value — P/E 18.5

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

+12.8

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (18.5 → 5.7)

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Dividends

Dividend

Dividend Yield

0.05%

Small dividend — 0.05% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

+15.7%

Dividend growing fast (15.7% YoY)

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