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Micron Technology

MU · Information Technology

Last earnings Sep 30, 2026

Key results

Revenuequarter

$11.32 billion

Revenue of $11.32 billion versus $9.30 billion for the prior quarter and $7.75 billion for the same period last year

SEC original ↗Micron Technology — Earnings release (8-K exhibit)EX-99Sep 23, 2025

GAAP net incomequarter

$3.20 billion

GAAP net income of $3.20 billion, or $2.83 per diluted share

SEC original ↗Micron Technology — Earnings release (8-K exhibit)EX-99Sep 23, 2025

Non-GAAP net incomequarter

$3.47 billion

Non-GAAP net income of $3.47 billion, or $3.03 per diluted share

SEC original ↗Micron Technology — Earnings release (8-K exhibit)EX-99Sep 23, 2025

Revenuefull-year

$37.38 billion

Revenue of $37.38 billion versus $25.11 billion for the prior year

SEC original ↗Micron Technology — Earnings release (8-K exhibit)EX-99Sep 23, 2025

GAAP net incomefull-year

$8.54 billion

GAAP net income of $8.54 billion, or $7.59 per diluted share

SEC original ↗Micron Technology — Earnings release (8-K exhibit)EX-99Sep 23, 2025

Non-GAAP net incomefull-year

$9.47 billion

Non-GAAP net income of $9.47 billion, or $8.29 per diluted share

SEC original ↗Micron Technology — Earnings release (8-K exhibit)EX-99Sep 23, 2025

Adjusted free cash flowquarter

$803 million

Adjusted free cash flow (2) was $803 million for the fourth quarter of 2025 and $3.72 billion for the full year of 2025.

SEC original ↗Micron Technology — Earnings release (8-K exhibit)EX-99Sep 23, 2025

Adjusted free cash flowfull-year

$3.72 billion

Adjusted free cash flow (2) was $803 million for the fourth quarter of 2025 and $3.72 billion for the full year of 2025.

SEC original ↗Micron Technology — Earnings release (8-K exhibit)EX-99Sep 23, 2025

Gross marginquarter

$5,054 million

Gross margin 5,054 3,508 2,737 14,873 5,613

SEC original ↗Micron Technology — Earnings release (8-K exhibit)EX-99Sep 23, 2025

Gross marginfull-year

$14,873 million

Gross margin 5,054 3,508 2,737 14,873 5,613

SEC original ↗Micron Technology — Earnings release (8-K exhibit)EX-99Sep 23, 2025

Research and developmentquarter

$1,047 million

Research and development 1,047 965 903 3,798 3,430

SEC original ↗Micron Technology — Earnings release (8-K exhibit)EX-99Sep 23, 2025

Research and developmentfull-year

$3,798 million

Research and development 1,047 965 903 3,798 3,430

SEC original ↗Micron Technology — Earnings release (8-K exhibit)EX-99Sep 23, 2025

Operating incomequarter

$3,654 million

Operating income 3,654 2,169 1,522 9,770 1,304

SEC original ↗Micron Technology — Earnings release (8-K exhibit)EX-99Sep 23, 2025

Operating incomefull-year

$9,770 million

Operating income 3,654 2,169 1,522 9,770 1,304

SEC original ↗Micron Technology — Earnings release (8-K exhibit)EX-99Sep 23, 2025

Net incomequarter

$3,201 million

Net income $ 3,201 $ 1,885 $ 887 $ 8,539 $ 778

SEC original ↗Micron Technology — Earnings release (8-K exhibit)EX-99Sep 23, 2025

Net incomefull-year

$8,539 million

Net income $ 3,201 $ 1,885 $ 887 $ 8,539 $ 778

SEC original ↗Micron Technology — Earnings release (8-K exhibit)EX-99Sep 23, 2025

EPSquarter

2.83

Diluted 2.83 1.68 0.79 7.59 0.70

SEC original ↗Micron Technology — Earnings release (8-K exhibit)EX-99Sep 23, 2025

EPSfull-year

7.59

Diluted 2.83 1.68 0.79 7.59 0.70

SEC original ↗Micron Technology — Earnings release (8-K exhibit)EX-99Sep 23, 2025

Gross margin %quarter

44.7 %

percent of revenue 44.7 % 37.7 % 35.3 % 45.7 % 39.0 % 36.5 %

SEC original ↗Micron Technology — Earnings release (8-K exhibit)EX-99Sep 23, 2025

Operating expensesquarter

$1,400 million

Operating expenses 1,400 1,339 1,215 1,214 1,133 1,081

SEC original ↗Micron Technology — Earnings release (8-K exhibit)EX-99Sep 23, 2025

Operating income %quarter

32.3 %

percent of revenue 32.3 % 23.3 % 19.6 % 35.0 % 26.8 % 22.5 %

SEC original ↗Micron Technology — Earnings release (8-K exhibit)EX-99Sep 23, 2025

AI analysis

Q4 FY2025 · reported Sep 23, 2025

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Revenue · Q4 FY2025
$11.32B
+21.7% +$2.02B vs prior quarter computed from stated figures
+46.1% +$3.57B vs year ago computed from stated figures
EX-99 · Sep 23, 2025
Diluted EPS · GAAP · Q4 FY2025
$2.83
Full year: $7.59
EX-99 · Sep 23, 2025
Gross margin % · Q4 FY2025
44.7 %
EX-99 · Sep 23, 2025
Adjusted free cash flow · Q4 FY2025
$803M
Full year: $3.72 billion
EX-99 · Sep 23, 2025

The quarter in charts

Revenue — quarterly

As stated

04.178.3312.5$7.75BSame quarter last year$9.30BPrior quarter$11.32BQ4 FY2025

EX-99 · Sep 23, 2025 Statement values as stated in the release.

Revenue — fiscal year

As stated

013.326.740$25.11BPrior fiscal year$37.38BLatest fiscal year

EX-99 · Sep 23, 2025 Full-year values as stated in the release.

Diluted EPS — GAAP

Per diluted share, as stated

02.675.338$2.83Q4 FY2025 (quarter)$7.59Latest fiscal year

EX-99 · Sep 23, 2025 EPS values as stated in the release.

Free cash flow

As stated

01.332.674$803MFree cash flow Q$3.72BFree cash flow FY

EX-99 · Sep 23, 2025 Values as labeled in the release.

Guidance ladder — revenue

Delivered vs the company's guided range

EX-99 · Sep 23, 2025 Guide as stated by the company; range and midpoint computed from the stated figure.

Headline figures

MetricQ4 FY2025Prior qtrYear ago
Revenue$11.32 billion$9.30 billion$7.75 billion
GAAP net income$3.20 billion——
Non-GAAP net income$3.47 billion——
Adjusted free cash flow$803 million——
Gross margin$5,054 million——
Research and development$1,047 million——
Operating income$3,654 million——
Net income$3,201 million——

EX-99 · Sep 23, 2025

Guidance · company-stated

Revenue$12.50 billion ± $300 million
Gross margin

“50.5% 1.0% 51.5% 1.0%”

Operating expenses

“$1.49 billion $20 million $1.34 billion”

Diluted earnings per share

“$3.56 ± $0.15 · $3.75 ± $0.15”

Implied range$12.2B–$12.8Bcomputed from stated figures
Midpoint vs latest-quarter revenue+10.4%computed from stated figures

Guidance stated in the release's Business Outlook table for the first quarter of 2026; no direction stated — figures as stated in the table.

Next earningsNo verified date on fileNo date is estimated or imported

Margin

Gross margin$5,054M
Gross marginfull year$14,873M
Gross margin %44.7 %

Cash flow & capex

Adjusted free cash flow$803M
Adjusted free cash flowfull year$3.72B

Capital allocation

Dividend$0.115

On September 23, 2025, Micron s Board of Directors declared a quarterly dividend of $0.115 per share, payable in cash on October 21, 2025, to shareholders of record as of the close of business on October 3, 2025.

What changed vs last quarter

  • Revenue +$2.02B (+21.7%) computed from stated figures
  • Guide midpoint vs latest-quarter revenue +10.4% computed from stated figures

Company-stated claims

Sep 30, 2026

Historical · doubled · revenue

“Our industry leading server LPDDR SOCAMM portfolio revenue more than doubled sequentially in the fourth quarter of 2026.”

EX-99 · Sep 30, 2026
General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

REPORTS RESULTS FOR THE FOURTH QUARTER AND FULL YEAR OF FISCAL 2025 Record fiscal Q4 and full-year revenue driven by AI data center growth Forecasting $1.2 billion in sequential revenue growth with gross margins exceeding 50%

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Guidance & outlook

Revenue: “Revenue $12.50 billion $300 million $12.50 billion”

Gross margin: “Gross margin 50.5% 1.0% 51.5% 1.0%”

Operating expenses: “Operating expenses $1.49 billion $20 million $1.34 billion”

Diluted earnings per share: “Diluted earnings per share $3.56 $0.15 $3.75 $0.15”

Revenue (“the first quarter of 2026”)
“Revenue $12.50 billion $300 million $12.50 billion”

Gross margin (“the first quarter of 2026”)
“Gross margin 50.5% 1.0% 51.5% 1.0%”

Operating expenses (“the first quarter of 2026”)
“Operating expenses $1.49 billion $20 million $1.34 billion”

Diluted earnings per share (“the first quarter of 2026”)
“Diluted earnings per share $3.56 $0.15 $3.75 $0.15”

Guidance stated in the release's Business Outlook table for the first quarter of 2026; no direction stated — figures as stated in the table.

Capital allocation

On September 23, 2025, Micron s Board of Directors declared a quarterly dividend of $0.115 per share, payable in cash on October 21, 2025, to shareholders of record as of the close of business on October 3, 2025.

SEC original ↗Micron Technology — Earnings release (8-K exhibit)EX-99Sep 23, 2025

(2) Non-GAAP represents GAAP excluding the impact of certain activities, which management excludes in analyzing our operating results and understanding trends in our earnings adjusted free cash flow investments in capital expenditures, net and business outlook.

SEC original ↗Micron Technology — Earnings release (8-K exhibit)EX-99Sep 23, 2025

Our management excludes the following items as applicable in analyzing our operating results and understanding trends in our earnings Stock-based compensation Gains and losses from settlements Gains and losses from debt prepayments Restructure and asset impairments and The estimated tax effects of above, non-cash changes in net deferred income taxes, assessments of tax exposures, certain tax matters related to prior fiscal periods, and significant changes in tax law.

SEC original ↗Micron Technology — Earnings release (8-K exhibit)EX-99Sep 23, 2025

Abbreviations, acronyms, or terms that are commonly used or found in multiple locations throughout this report and include the following: Term Definition Term Definition 2028 Notes 5.375% Senior Notes due April 2028, repaid October 2025 AI Artificial intelligence 2029 A Notes 5.327% Senior Notes due February 2029, repaid February 2026 CAC China s Cyberspace Administration 2029 B Notes 6.750% Senior Notes due November 2029, repaid October 2025 CHIPS Act U.

SEC original ↗Micron Technology — 10-Q Quarterly report10-QJun 25, 2026

CHIPS and Science Act of 2022 2029 Term Loan A Senior Term Loan A due January 2029, repaid October 2025 DDR Double data rate DRAM 2030 Notes 4.663% Senior Notes due February 2030, repaid February 2026 EBITDA Earnings before interest, taxes, depreciation, and amortization 2031 Notes 5.300% Senior Notes due January 2031 EUV Extreme ultraviolet lithography 2032 Green Bonds 2.703% Senior Notes due April 2032 HBM High-bandwidth memory 2032 Notes 5.650% Senior Notes due November 2032 Micron Micron Technology, Inc.

SEC original ↗Micron Technology — 10-Q Quarterly report10-QJun 25, 2026

(Parent Company) 2033 A Notes 5.875% Senior Notes due February 2033 OEM Original equipment manufacturer 2033 B Notes 5.875% Senior Notes due September 2033 R&D Research and development 2035 A Notes 5.800% Senior Notes due January 2035 Revolving Credit Facility $2.0 billion Revolving Credit Facility due March 2030 2035 B Notes 6.050% Senior Notes due November 2035 SOFR Secured Overnight Financing Rate 2041 Notes 3.366% Senior Notes due November 2041 SSD Solid state drive 2051 Notes 3.477% Senior Notes due November 2051 Micron Technology, Inc.

SEC original ↗Micron Technology — 10-Q Quarterly report10-QJun 25, 2026

Strategy & priorities

With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND, and NOR memory and storage products through our Micron and Crucial brands.

SEC original ↗Micron Technology — Earnings release (8-K exhibit)EX-99Sep 23, 2025

Forward-Looking Statements This press release contains forward-looking statements regarding our industry, our strategic position, and our financial and operating results, including our guidance for the first quarter and full year fiscal 2026.

SEC original ↗Micron Technology — Earnings release (8-K exhibit)EX-99Sep 23, 2025

The guidance does not incorporate the impact of any potential business combinations, divestitures, additional restructuring activities, balance sheet valuation adjustments, strategic investments, financing transactions, and other significant transactions.

SEC original ↗Micron Technology — Earnings release (8-K exhibit)EX-99Sep 23, 2025

With a relentless focus on our customers, technology leadership, manufacturing, and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND, and NOR memory and storage products.

SEC original ↗Micron Technology — 10-Q Quarterly report10-QJun 25, 2026

On November 19, 2025, we finalized an incentive arrangement for the expansion of our Singapore manufacturing facilities, followed by a second arrangement on April 17, 2026, for the expansion of our Singapore R&D.

SEC original ↗Micron Technology — 10-Q Quarterly report10-QJun 25, 2026

Risks & headwinds

These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially.

SEC original ↗Micron Technology — Earnings release (8-K exhibit)EX-99Sep 23, 2025

Legal Proceedings 36 Item 1A.

SEC original ↗Micron Technology — 10-Q Quarterly report10-QJun 25, 2026

3 | 2026 Q3 10-Q Table of Contents Forward-Looking Statements This Form 10-Q contains trend information and other forward-looking statements that involve a number of risks and uncertainties.

SEC original ↗Micron Technology — 10-Q Quarterly report10-QJun 25, 2026

The above lawsuits pertain to substantially all of our DRAM, NAND, and other memory and storage products we manufacture, which account for substantially all of our revenue.

SEC original ↗Micron Technology — 10-Q Quarterly report10-QJun 25, 2026

The petition challenges certain aspects of OCIDA s environmental review of the Company s planned construction of up to four fabs in Clay, New York, and seeks a judgment to annul, vacate, and void all permits, approvals, and findings issued by the named government entities related to the project.

SEC original ↗Micron Technology — 10-Q Quarterly report10-QJun 25, 2026

Documents

Earnings deck slides

1 deck with slide view

Micron Technology — Presentation deck (company IR deck) — Slide view unavailable — the file held under this record is not an earnings presentation (library typing question, recorded 2026-10-26).

Micron Technology — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Micron Technology — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Competitors

Competitors & peers

Named in the company’s own filings

SanDisk (SNDK)“Competitive Conditions We face intense competition in the semiconductor memory and storage markets from a number of companies, including Samsung Electronics Co., Ltd.; SK hynix Inc.; Kioxia Holdings Corporation; Sandisk Corporation; ChangXin Memory Technologies, Inc.”

Filings

112 documents

Earnings releases

65 documents

Presentations

4 documents

Transcripts

0 documents

No transcripts for Micron Technology are held in this edition of the library.

Mentioned by

8 companies

Other tracked companies whose held documents mention Micron Technology by name or ticker. A mention is counted once per document, from the document text the library holds.

See also the earnings calendar for every tracked company’s next earnings date.