Micron Technology (MU)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
At a market value of $1.07T, Micron Technology's free cash flow of $1.7B (fiscal 2025) would need to grow about 54% a year for the stock to be worth today's price. That is faster than the company has grown its free cash flow over the last 8 years.
Assumes a 9% discount rate and 3% growth after year 10, on free cash flow (operating cash flow minus capital spending) from Micron Technology's SEC filings. Change any assumption, or model revenue and margins instead, in the Modeling tab, or try your own numbers in the reverse DCF calculator.
Fundamental grade
Five factors scored 1 to 9 from MU's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Micron Technology's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $27.7B | $30.8B | $15.5B | $25.1B | $37.4B |
| Net income | $5.9B | $8.7B | -$5.8B | $778M | $8.5B |
| Free cash flow | $2.4B | $3.1B | -$6.1B | $121M | $1.7B |
| EPS (diluted) | $5.14 | $7.75 | -$5.34 | $0.70 | $7.59 |
| Operating margin | 22.7% | 31.5% | -37.0% | 5.2% | 26.1% |
Where the revenue comes from
Revenue by segments, fiscal 2025.
Superinvestors who own MU
From each investor's latest 13F filing (what a 13F shows). 15 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| PRIMECAP Management PRIMECAP Management Co |
Trimmed | $22.2B | 13.1% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Trimmed | $4.4B | 1.5% | Q2 2026 |
| Philippe Laffont Coatue Management |
Added | $3.6B | 7.5% | Q2 2026 |
| David Tepper Appaloosa Management |
Trimmed | $1.1B | 14.6% | Q2 2026 |
| Hersh Cohen ClearBridge Investments |
Trimmed | $494M | 0.41% | Q2 2026 |
| Joel Greenblatt Gotham Asset Management |
Trimmed | $147M | 0.34% | Q2 2026 |
| Andrew Redleaf Whitebox Advisors |
New position | $92M | 2.6% | Q2 2026 |
| Eric Marshall Hodges Capital Management |
Trimmed | $53M | 3.5% | Q2 2026 |
| Ron Baron Baron Capital (BAMCO) |
Added | $50M | 0.08% | Q2 2026 |
| Jay Petschek Corsair Capital Management |
Trimmed | $10M | 1.3% | Q2 2026 |
| Mario Gabelli GAMCO Investors |
New position | $9M | 0.08% | Q2 2026 |
| Charles Brandes Brandes Investment Partners, LP |
Trimmed | $4M | 0.03% | Q2 2026 |
Insider buying
Open-market purchases by Micron Technology's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Mar 30, 2026 | John Fetterman |
0 | $321.80 | — |
| Mar 30, 2026 | John Fetterman |
0 | $321.80 | — |
| Mar 30, 2026 | John Fetterman |
0 | $321.80 | — |
| Mar 25, 2026 | Gilbert Ray Cisneros, Jr. |
0 | $382.09 | — |
| Mar 25, 2026 | Gilbert Ray Cisneros, Jr. |
0 | $382.09 | — |
| Mar 25, 2026 | Gilbert Ray Cisneros, Jr. |
0 | $382.09 | — |
| Feb 24, 2026 | Gilbert Ray Cisneros, Jr. |
0 | $418.01 | — |
| Feb 24, 2026 | Gilbert Ray Cisneros, Jr. |
0 | $418.01 | — |
| Feb 24, 2026 | Gilbert Ray Cisneros, Jr. |
0 | $418.01 | — |
| Feb 19, 2026 | Tony Wied |
0 | $417.35 | — |
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In the full deep dive
Questions
What growth does Micron Technology's stock price imply?
At a market value of $1.07T, Micron Technology would need its free cash flow to grow about 54% a year for 10 years (discounted at 9%, 3% growth after that) to be worth today's price. Over the last 8 years its free cash flow grew -9% a year.
Are Micron Technology insiders buying the stock?
10 open-market insider purchases of MU in the last 12 months, from SEC Form 4 filings.
Which superinvestors own Micron Technology?
15 of the superinvestors Investingly tracks hold MU in their latest 13F, including PRIMECAP Management, Cliff Asness, Philippe Laffont.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.