MicronMU

MicronMU

Revenue: is the business selling more than it used to?

$37.4B+49% YoYFY 2025

→Revenue reached $37.4B in 2025, compounding +8% a year since 2019 and the pace is picking up. The trailing twelve months are already running at $90.3B, ahead of the last full year.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-28

MicronMU

Net income: how much of that revenue becomes profit?

$8.5B+998% YoYFY 2025

→Net income was $8.5B in 2025, compounding +5% a year over three years. Earnings per share moved +711% over the last twelve months. Trailing twelve-month profit stands at $50.5B.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-28

MicronMU

How fast is it growing, year by year?

+48.9%revenue growth, FY 2025

→Revenue grew +49% in 2025 against a five-year average of +21%. 2025's +998% earnings rebound off a collapsed base sits off the axis.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-28

MicronMU

Revenue per share: is your slice growing as fast as the company?

$33.22revenue per share, FY 2025

→Revenue per share reached $33.22 in 2025, compounding +8% a year - in line with MU's own +8%, so the share count is not distorting your slice. Free cash flow per share stands at $1.48.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-28

MicronMU

Free cash flow: what is left in real cash after everything?

$1.7B+1279% YoYFY 2025

→Free cash flow was $1.7B in 2025, compounding -11% a year since 2019. The trailing twelve months stand at $26.2B.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-28

MicronMU

Where does each dollar of revenue actually go?

→Of $37.4B in 2025 sales, $8.5B reaches net profit - 23 cents on the dollar. The largest single deduction is producing the product ($22.5B).

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-28

MicronMU

How much of every sales dollar ends up as free cash?

→4 cents of every sales dollar became free cash in 2025, up 44 points since 2023.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-28

MicronMU

What does staying competitive cost, per dollar of sales?

→The biggest claim on each sales dollar is capital spending, at 42% of revenue (research and development 10%, stock compensation 3%).

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-28

MicronMU

When sales grow, do profits grow faster?

→Operating profit outgrew revenue in 3 of the last 5 years, most recently +649% against +49%. Each additional dollar of sales is landing more profitably than the last - the definition of operating leverage.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-28

MicronMU

Margins: of every $1 of sales, how much survives each cost layer?

→Operating margin widened 63 points to 26% since 2023. After everything, 23 cents of each sales dollar reaches net profit.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-28

MicronMU

What does it earn on the money it uses?

→ROE of 50% sits well above ROCE of 13%. A meaningful share of the shareholder return is manufactured with leverage rather than operations.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-28

MicronMU

What has the market paid for MU over time?

22.7xP/E today

→At 22.7x earnings, the market is paying +223% more than MU's own 5-year median of 7.0x. Expectations are elevated, so more has to go right to justify the price.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-28

MicronMU

What cash return does the business throw off per dollar of market value?

2.3%FCF yield today

→Every dollar of market value currently buys 2.3% of annual free cash flow, less than its 6-year median of 7.7% - you are paying up for the same cash.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-28

MicronMU

Could it handle its debt if things went wrong?

→The company holds $25.0B in cash against $5.7B of debt - a net-cash balance sheet, which means a bad year is an inconvenience rather than a threat.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-28

MicronMU

Is the company's own capital growing?

→The company's own capital grew from $42.9B in 2023 to $100.7B (+135%). The business is building book value rather than consuming it.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-28

MicronMU

How much goes back, and how much leaks out as stock comp?

→Shareholders received $461M in dividends in 2025. Stock compensation issued $972M of new shares in the same year, offsetting 100% of that.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-28

MicronMU

How fast is your ownership being diluted - or concentrated?

→The share count grew 0.6% in 2025. Your slice of the company shrinks by that much each year unless earnings grow faster.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-28

MicronMU

Does MU earn more on its capital than that capital costs?

→MU earns 13.2% on the capital it employs, comfortably above the 10% most investors treat as the cost of capital. It was 17.0% in 2019, so the trend is down, though the pace has cooled.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-28

MicronMU

MU has issued or retired shares - did shareholders end up better off?

→MU issued +14% more shares from 2012 to 2025, but revenue per share still rose +300%. The dilution bought more growth than it cost existing holders.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-28

MicronMU

Are the people running it buying or selling?

→Insiders bought $8M and sold $310M on the open market, a net sale of $302M.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-28