Micron Technology

Semiconductors · Technology

Price

$966.78

-7.55 (-0.77%)

Market Cap

$1.09T

Exchange

United States

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

Data as of Aug 23, 2026 · filings through May 28, 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 data while a device is running. Its two main products are DRAM (used in PCs, smartphones, and data centers) and NAND flash (used in solid-state drives and USB storage). Micron is one of only three major DRAM makers in the world, alongside Samsung and SK Hynix.

Micron earns money by selling these chips to large customers like Apple, Dell, and cloud computing companies such as Amazon and Microsoft. It operates manufacturing facilities across the US, Japan, Taiwan, and Singapore, generating tens of billions in annual revenue. The memory chip industry is highly cyclical — prices can swing sharply based on supply and demand — but growing demand for AI servers, which require large amounts of high-bandwidth memory (HBM), is a significant tailwind Micron is actively working to capture.

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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

+345.7% 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 346% 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

56.1%

Exceptional — 56.1% 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

+167.0%

Fast-growing sales (+167.0% YoY)

Profit growth

EPS YoY

+701.6%

Earnings growing fast (+701.6% 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

102%

Turns 102% of profit into real cash

Spare cash per sale

FCF Margin

29.0%

Converts sales into free cash efficiently (29.0%)

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

0.05

Conservative — low debt load (0.05)

Covers its interest

Interest Cover

258.01x

Comfortably covers interest (258.0x)

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

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Valuation

Price vs profit

P/E Ratio (TTM)

21.6x

Growth-priced — P/E 21.6

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

+16.1

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (21.6 → 5.5)

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Dividends

Dividend

Dividend Yield

0.06%

Small dividend — 0.06% yield

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

Dividend record

Dividend Growth

+15.2%

Dividend growing fast (15.2% YoY)

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