Micron Technology (MU) financial statements
Micron Technology reported revenue of $133.2B in fiscal 2026, up 23.2% a year over 9 years.
Net income was $85.0B and the operating margin 74.6%, against 28.9% in 2017.
Free cash flow was $59.0B, and the company returned $610M in dividends and $650M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Micron Technology's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $20.3B | $30.4B | $23.4B | $21.4B | $27.7B | $30.8B | $15.5B | $25.1B | $37.4B | $133.2B |
| Cost of revenue | $11.9B | $12.5B | $12.7B | $14.9B | $17.3B | $16.9B | $17.0B | $19.5B | $22.5B | $25.7B |
| Gross profit | $8.4B | $17.9B | $10.7B | $6.6B | $10.4B | $13.9B | -$1.4B | $5.6B | $14.9B | $107.5B |
| Research and development | $1.8B | $2.1B | $2.4B | $2.6B | $2.7B | $3.1B | $3.1B | $3.4B | $3.8B | $5.7B |
| Selling, general and admin | $743M | $813M | $836M | $881M | $894M | $1.1B | $920M | $1.1B | $1.2B | $1.9B |
| Operating income | $5.9B | $15.0B | $7.4B | $3.0B | $6.3B | $9.7B | -$5.7B | $1.3B | $9.8B | $99.3B |
| Interest expense | $601M | $342M | $128M | $194M | $183M | $189M | $388M | $562M | $477M | $106M |
| Pre-tax income | $5.2B | $14.3B | $7.0B | $3.0B | $6.2B | $9.6B | -$5.7B | $1.2B | $9.7B | $99.7B |
| Income tax | $114M | $168M | $693M | $280M | $394M | $888M | $177M | $451M | $1.1B | $14.8B |
| Net income | $5.1B | $14.1B | $6.3B | $2.7B | $5.9B | $8.7B | -$5.8B | $778M | $8.5B | $85.0B |
| EPS (diluted) | $4.41 | $11.51 | $5.51 | $2.37 | $5.14 | $7.75 | -$5.34 | $0.70 | $7.59 | $74.33 |
| Diluted shares | 1.15B | 1.23B | 1.14B | 1.13B | 1.14B | 1.12B | 1.09B | 1.12B | 1.12B | 1.14B |
| Gross margin | 41.5% | 58.9% | 45.7% | 30.6% | 37.6% | 45.2% | -9.1% | 22.4% | 39.8% | 80.7% |
| Operating margin | 28.9% | 49.3% | 31.5% | 14.0% | 22.7% | 31.5% | -37.0% | 5.2% | 26.1% | 74.6% |
| Net margin | 25.0% | 46.5% | 27.0% | 12.5% | 21.2% | 28.2% | -37.5% | 3.1% | 22.8% | 63.8% |
Balance sheet
Fiscal years, from Micron Technology's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $5.4B | $6.8B | $8.0B | $8.1B | $8.6B | $9.3B | $9.6B | $8.1B | $10.3B | $43.4B |
| Receivables | $3.8B | $5.5B | $3.2B | $3.9B | $5.3B | $5.1B | $2.4B | $6.6B | $9.3B | $31.8B |
| Inventory | $3.1B | $3.6B | $5.1B | $5.4B | $4.5B | $6.7B | $8.4B | $8.9B | $8.4B | $10.4B |
| Total current assets | $12.5B | $16.0B | $16.5B | $18.0B | $19.9B | $21.8B | $21.2B | $24.4B | $28.8B | $91.1B |
| Property, plant and equipment | $19.4B | $23.7B | $28.2B | $31.0B | $33.2B | $38.5B | $37.9B | $39.7B | $46.6B | $63.3B |
| Goodwill | $1.2B | $1.2B | $1.2B | $1.2B | $1.2B | $1.2B | $1.1B | $1.1B | $1.1B | $1.1B |
| Total assets | $35.3B | $43.4B | $48.9B | $53.7B | $58.8B | $66.3B | $64.3B | $69.4B | $82.8B | $195.9B |
| Total current liabilities | $5.3B | $5.8B | $6.4B | $6.6B | $6.4B | $7.5B | $4.8B | $9.2B | $11.5B | $27.5B |
| Long-term debt | $9.9B | $3.8B | $4.5B | $6.4B | $6.6B | $6.8B | $13.1B | $13.0B | $14.0B | $4.7B |
| Total liabilities | $15.8B | $10.1B | $12.0B | $14.7B | $14.9B | $16.4B | $20.1B | $24.3B | $28.6B | $57.5B |
| Shareholders' equity | $18.6B | $32.3B | $35.9B | $39.0B | $43.9B | $49.9B | $44.1B | $45.1B | $54.2B | $138.4B |
| Net debt | $6.0B | -$1.9B | -$1.3B | -$981M | -$987M | -$1.4B | $4.8B | $6.4B | $4.9B | -$33.2B |
Cash flow
Fiscal years, from Micron Technology's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $8.2B | $17.4B | $13.2B | $8.3B | $12.5B | $15.2B | $1.6B | $8.5B | $17.5B | $89.7B |
| Capital spending | $4.7B | $8.9B | $9.8B | $8.2B | $10.0B | $12.1B | $7.7B | $8.4B | $15.9B | $30.7B |
| Free cash flow | $3.4B | $8.5B | $3.4B | $83M | $2.4B | $3.1B | -$6.1B | $121M | $1.7B | $59.0B |
| Stock-based compensation | $215M | $198M | $243M | $328M | $378M | $514M | $596M | $833M | $972M | $1.3B |
| Dividends paid | — | — | — | $0 | $0 | $461M | $504M | $513M | $522M | $610M |
| Share buybacks (net) | -$36M | -$71M | -$2.7B | -$176M | -$1.2B | -$2.4B | -$425M | -$300M | $0 | -$650M |
| Net borrowing | $3.3B | -$8.4B | $1.2B | $1.1B | $1.2B | $2.0B | $6.7B | $999M | $4.4B | -$9.3B |
| Free cash flow margin | 16.8% | 28.0% | 14.6% | 0.4% | 8.8% | 10.1% | -39.4% | 0.5% | 4.5% | 44.3% |
| Dividends per share | — | — | — | — | — | $0.41 | $0.46 | $0.46 | $0.46 | $0.53 |
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Open MU in InvestinglyQuestions
What was Micron Technology's revenue in 2026?
$133.2B in fiscal 2026, from its 10-K filing.
How much free cash flow does Micron Technology generate?
$59.0B in fiscal 2026 (operating cash flow minus capital spending).
From Micron Technology's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.