NASDAQ: MU
MICRON TECHNOLOGY INCCIK 0000723125 · SIC 3674 · Semiconductors
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Micron elevates two executives to President roles, aligns leadership for AI-era growth
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revenue $41.5B, net income $28.2B. Micron Q3 FY26: Revenue +346% YoY; debt retired, YMTC sues globally
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Micron reports record Q3 revenue of $41.5B, up 346% YoY on AI memory demand
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Micron appoints Alexis Black Björlin as independent director to Board
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Micron retires $4.3B of senior notes via tender offers at 4.8%-8.0% premiums
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Micron launches tender offers to repurchase all outstanding senior notes across six series
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Micron reports Q2 fiscal 2026 earnings for quarter ended February 26, 2026
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Micron stockholders approve officer liability protections, reducing legal risk for executives
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Latest financial statements
From 10-Q filed Jun 25, 2026 (period ending May 28, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Operations (Unaudited)
(In millions, except per share amounts)
| Description | Quarter ended May 28, 2026 | Quarter ended May 29, 2025 | Nine months ended May 28, 2026 | Nine months ended May 29, 2025 |
|---|---|---|---|---|
| Revenue | 41,456 | 9,301 | 78,959 | 26,063 |
| Cost of goods sold | 6,400 | 5,793 | 18,502 | 16,244 |
| Gross margin | 35,056 | 3,508 | 60,457 | 9,819 |
| Research and development | 1,316 | 965 | 3,737 | 2,751 |
| Selling, general, and administrative | 407 | 318 | 1,088 | 891 |
| Other operating (income) expense, net | 15 | 56 | 43 | 61 |
| Operating income | 33,318 | 2,169 | 55,589 | 6,116 |
| Interest income | 215 | 135 | 509 | 350 |
| Interest expense | — | (123) | (106) | (353) |
| Other non-operating income (expense), net | (321) | (68) | (559) | (90) |
| 33,212 | 2,113 | 55,433 | 6,023 | |
| Income tax (provision) benefit | (4,978) | (235) | (8,178) | (695) |
| Equity in net income (loss) of equity method investees | 9 | 7 | 13 | 10 |
| Net income | 28,243 | 1,885 | 47,268 | 5,338 |
| Earnings per share | ||||
| Basic | 25.03 | 1.69 | 41.97 | 4.79 |
| Diluted | 24.67 | 1.68 | 41.40 | 4.75 |
| Number of shares used in per share calculations | ||||
| Basic | 1,128 | 1,118 | 1,126 | 1,114 |
| Diluted | 1,145 | 1,125 | 1,142 | 1,123 |
Consolidated Balance Sheets (Unaudited)
(In millions, except par value amounts)
| Description | May 28, 2026 | August 28, 2025 |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | 24,995 | 9,642 |
| Short-term investments | 1,027 | 665 |
| Receivables | 31,025 | 9,265 |
| Inventories | 8,567 | 8,355 |
| Other current assets | 1,123 | 914 |
| Total current assets | 66,737 | 28,841 |
| Long-term marketable investments | 4,106 | 1,629 |
| Property, plant, and equipment | 56,426 | 46,590 |
| Operating lease right-of-use assets | 683 | 736 |
| Intangible assets | 473 | 453 |
| Deferred tax assets | 700 | 616 |
| Goodwill | 1,150 | 1,150 |
| Other noncurrent assets | 3,837 | 2,783 |
| Total assets | 134,112 | 82,798 |
| Liabilities and equity | ||
| Accounts payable and accrued expenses | 15,521 | 9,649 |
| Current debt | 582 | 560 |
| Other current liabilities | 3,385 | 1,245 |
| Total current liabilities | 19,488 | 11,454 |
| Long-term debt | 5,140 | 14,017 |
| Noncurrent operating lease liabilities | 654 | 701 |
| Noncurrent unearned government incentives | 1,020 | 1,018 |
| Other noncurrent liabilities | 7,086 | 1,443 |
| Total liabilities | 33,388 | 28,633 |
| Commitments and contingencies | ||
| Shareholders’ equity | ||
| Common stock, $0.10 par value, 3,000 shares authorized, 1,275 shares issued and 1,129 outstanding (1,266 shares issued and 1,122 outstanding as of August 28, 2025) | 128 | 127 |
| Additional capital | 14,442 | 13,339 |
| Retained earnings | 94,682 | 48,583 |
| Treasury stock, 146 shares held (144 shares as of August 28, 2025) | (8,502) | (7,852) |
| Accumulated other comprehensive income (loss) | (26) | (32) |
| Total equity | 100,724 | 54,165 |
| Total liabilities and equity | 134,112 | 82,798 |
Consolidated Statements of Cash Flows (Unaudited)
(In millions)
| Description | Nine months ended May 28, 2026 | Nine months ended May 29, 2025 |
|---|---|---|
| Cash flows from operating activities | ||
| Net income | 47,268 | 5,338 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation expense and amortization of intangible assets | 6,862 | 6,203 |
| Stock-based compensation | 954 | 722 |
| Change in operating assets and liabilities: | ||
| Receivables | (19,953) | (123) |
| Inventories | (212) | 148 |
| Accounts payable and accrued expenses | 3,329 | 38 |
| Other current liabilities | 2,139 | (681) |
| Other noncurrent liabilities | 5,203 | 259 |
| Other | 112 | (109) |
| Net cash provided by operating activities | 45,702 | 11,795 |
| Cash flows from investing activities | ||
| Expenditures for property, plant, and equipment | (19,602) | (10,199) |
| Purchases of available-for-sale securities | (4,072) | (1,203) |
| Proceeds from government incentives | 2,989 | 1,294 |
| Proceeds from maturities and sales of available-for-sale securities | 1,233 | 1,249 |
| Other | (236) | (30) |
| Net cash used for investing activities | (19,688) | (8,889) |
| Cash flows from financing activities | ||
| Repayments of debt | (9,380) | (3,604) |
| Repurchases of common stock withholdings on employee equity awards | (762) | (290) |
| Repurchases of common stock repurchase program | (650) | — |
| Payments of dividends to shareholders | (437) | (392) |
| Proceeds from issuance of debt | — | 4,430 |
| Other | 583 | 70 |
| Net cash provided by (used for) financing activities | (10,646) | 214 |
| Effect of changes in currency exchange rates on cash, cash equivalents, and restricted cash | 8 | (3) |
| Net increase in cash, cash equivalents, and restricted cash | 15,376 | 3,117 |
| Cash, cash equivalents, and restricted cash at beginning of period | 9,646 | 7,052 |
| Cash, cash equivalents, and restricted cash at end of period | 25,022 | 10,169 |
| Supplemental disclosure | ||
| Non-cash acquisitions of finance lease right-of-use assets | 32 | 1,247 |
Amounts as printed on the EDGAR/iXBRL face — (In millions, except per share amounts); (In millions, except par value amounts); (In millions). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗