MICRON TECH

MU.SW · Technology · Semiconductors · Valued as of 2026-11-03 · Statements 2025-08-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

53.57B USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

100.82B USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

100.82B USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

85.07B USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

1.23T USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.07×

the ratio the screener ranks by

Margin of Safety

-1350.5%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 53.57B USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)12.05B USD
+②Net Cash Today19.67B USD
+③Growth Value21.85B USD
=Value53.57B USD

EPV of the Operations (NOPAT over WACC)

12.05B USD

Net cash today

+19.67B USD

Growth Value

+21.85B USD

Value

53.57B USD

①EPV (earnings power value)

12.05B USD

②Net Cash Today

19.67B USD

③Growth Value

21.85B USD

Market value

Market Cap1.23T USD

The price on the date above times the shares.

Value vs market

Margin of Safety-2203.3%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 100.82B USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.

The projection was not made (a profit at or below zero in the latest three years), so the value is the book value today, 100.82B USD, as the screener leaves it.

①Present Value of the 15 Years of FCFE

Not in the value

②Equity at Year 15, Today

Not in the value

Market value

Market Cap1.23T USD

The price on the date above times the shares.

Value vs market

Margin of Safety-1123.9%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 100.82B USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).

The projection was not made (a change in working capital above half the operating profit in the latest three years), so the value is the book value today, 100.82B USD, as the screener leaves it.

①Present Value of the 15 Years of FCFF

Not in the value

②Invested Capital at Year 15, Today

Not in the value

③Net Cash Today

Not in the value

Market value

Market Cap1.23T USD

The price on the date above times the shares.

Value vs market

Margin of Safety-1123.9%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 17.72%
Cost of Equity =Risk-Free Rate 4.50%+Beta 2.21×Market Risk Premium 6.00%= 17.78%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 1.13B USDPretax Income 9.66B USD= 11.64%

The tax the interest saves.

Interest Expense =EBIT 10,141.13M USD−Pretax Income 9,663.65M USD= 477.48M USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 477.48M USDTotal Debt 6.38B USD×(1 − Tax Rate for WACC 11.64%)= 6.61%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 6.38B USDMarket Cap + Total Debt 1.23T USD + 6.38B USD= 0.51%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 99.49%×Cost of Equity 17.78%+Debt Weight 0.51%×Cost of Debt 6.61%= 17.72%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-05-31.

Total Assets 134.25B USD − Total Liabilities 33.42B USD = Book Value Today 100.82B USD

Total Debt 6.38B USD − Cash and Short-Term Investments 26.05B USD = Net Debt Today -19.67B USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 12.9%at most 5%passes1,129,393,151 / 1,098,000,000
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets6.7%at least -10.0%passes(17.54B USD − 8.55B USD) ÷ 134.25B USD
Price to bookMarket Cap ÷ Book Value Today12.24×at most 3×does not pass1.23T USD ÷ 100.82B USD
Operating marginOperating Income ÷ Revenue26.2%above 10.0%passes9.82B USD ÷ 37.42B USD
Revenue growthRevenue ÷ Revenue a Year Before − 148.9%above 10.0%passes37.42B USD / 25.14B USD
Net cash(Cash − Total Debt) ÷ Market Cap1.5%above -30%passes(25.02B USD − 6.38B USD) ÷ 1.23T USD
Operating efficiencyOperating Income ÷ Gross Profit66.0%above 25.0%passes9.82B USD ÷ 14.89B USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

900.40 CHF

Enterprise value

979.16B CHF

the provider's own figure

EV / EBITDA

8.99×

Price / book

12.33×

the provider's book

Price / earnings

14.51×

Return on equity

88.3%

the provider's figure, not this page's

Profit margin

63.8%

Revenue growth

379.3%

Analyst target, mean

—

Analysts

—

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

USD2022202320242025
Income statement

Revenue

30.79B15.56B25.14B37.42B

Gross profit

13.91B-1.42B5.62B14.89B

Operating income

9.72B-5.41B1.31B9.82B

EBITDA

operating income before depreciation and amortisation

16.89B2.49B9.59B18.50B

Pretax income

9.58B-5.66B1.24B9.66B

Net income

8.70B-5.84B778.78M8.55B

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

8.75B-5.58B788.33M8.70B

R&D

3.12B3.12B3.43B3.80B
Balance sheet, year end

Total assets

66.35B64.32B69.49B82.88B

Total liabilities

16.39B20.15B24.31B28.66B

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

49.96B44.16B45.18B54.22B

Total debt

7.52B13.95B14.02B15.29B

Cash and equivalents

8.27B8.59B7.05B9.65B

Net PP&E

fixed assets after depreciation

39.27B38.63B40.43B47.37B

Working capital

current assets less current liabilities

14.26B16.50B15.14B17.40B
Cash flow

Operating cash flow

15.20B1.56B8.52B17.54B

Capital expenditure

paid out, so below zero

-12.08B-7.68B-8.39B-15.87B

Depreciation and amortisation

7.12B7.76B7.79B8.36B

Free cash flow

operating cash flow plus capital expenditure

3.12B-6.12B121.12M1.67B