Rambus, Inc. Supply
Comprehensive patent license agreement extended by five years, giving Micron broad access to the full Rambus patent portfolio through late 2029; financial terms confidential [2]
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Micron
MU·NASDAQ·USD
928.76+25.06 (+2.77%)
The memory cycle: separate pricing, bit shipments and high-bandwidth product mixBusiness mechanism
Updated data is available.
Price history1984-06-01 — 2026-10-23Valid trading days: 10,682 · Available range · History update delayed
Operating history2017-11-30 — 2026-09-0323 historical metrics · 39 workpaper periods
Coverage limitations
Daily history updates are delayed. Available history through 2026-10-23 remains visible; a current quote does not establish that daily history has been updated.
Requests to the historical-data source are rate limited, delaying daily-price updates. Existing verified periods are retained; trading days not yet retrieved are not fabricated.
The history starts with the provider’s first actual observation; this starting point is not a verified initial listing date.
The earliest available price is not proof of the listing date. Coverage since listing remains unverified.
Security basis: The current security identity has been checked. Continuity with earlier issuers has not been independently verified; listing-date coverage is shown separately. Historical closes use the provider's split adjustments and exclude dividend distributions. Full-history adjustment factors have not been independently recalculated. Price changes do not represent total returns including dividends.
Original verification records
first-provider-observation-listing-date-not-verified
History update reason: source-rate-limited-until 2026-10-28T04:39:08.620Z
Current ticker/issuer checked across available sources. Earlier issuer continuity and first listing date are not independently established; provider first observation is not an IPO claim.
Financial drivers from public filings · single quarter
Compare growth, earnings, cash flow and capital investment for aligned reporting periods to examine company-wide financial drivers. Calculation inputs and original filings remain available.
Coverage and applicability
2017-11-30 — 2026-09-03 · Valid observations: 387. These observations analyze public financial data; they are not a standalone sector research report, score or price target. Company-wide figures do not replace segment, product or contract disclosures.
- Cash purchases of productive assets / revenue: The selected capital-expenditure measure does not represent the broader concept of productive-asset purchases.
Price and operations
Last value in range
MU Share priceTrading day
Gross marginQuarterly observations
Operating marginQuarterly observations
Net marginQuarterly observations
(CFO − cash purchases of PP&E) / revenueQuarterly observations
Time rangeMU Share price
2025-10-23 — 2026-10-23
Methodology and controls
Each panel has its own value axis; dates and the cursor are synchronized. Operating data appear only on their observed dates; other dates are left blank. US daily prices are checked against the verified 1997–2027 trading calendar. A missing expected trading day breaks the line; weekends and recorded exchange holidays do not. Some daily market or calendar coverage is unverified. Only consecutive calendar dates are connected; gaps between dates are not assumed to be complete. Operating data are positioned at the actual period end, which is not necessarily the date of public disclosure. Drag within the chart to zoom and move the range window below to pan. Quarterly values are not filled across other trading days.
Underlying data Operating metrics: 4
Observations in this chart, including unverified periods or dates · original values and source versions retained
| Reporting period end | Gross margin% · Calculated from disclosures | Operating margin% · Calculated from disclosures | Net margin% · Calculated from disclosures | (CFO − cash purchases of PP&E) / revenue% · Calculated from disclosures |
|---|---|---|---|---|
| 2026-09-032026-09-03 | 86.76%Basis · Calculated from disclosuresSource version date: 2026-10-09 View calculation inputs · 4 items
| 80.68%Basis · Calculated from disclosuresSource version date: 2026-10-09 View calculation inputs · 4 items
| 69.52%Basis · Calculated from disclosuresSource version date: 2026-10-09 View calculation inputs · 4 items
| 60.60%Basis · Calculated from disclosuresSource version date: 2026-10-09 View calculation inputs · 5 items
|
| 2026-05-282026-05-28 | 84.56%Basis · Calculated from disclosuresSource version date: 2026-06-25 View calculation inputs · 4 items
| 80.37%Basis · Calculated from disclosuresSource version date: 2026-06-25 View calculation inputs · 4 items
| 68.13%Basis · Calculated from disclosuresSource version date: 2026-06-25 View calculation inputs · 4 items
| 42.36%Basis · Calculated from disclosuresSource version date: 2026-06-25 View calculation inputs · 5 items
|
| 2026-02-262026-02-26 | 74.41%Basis · Calculated from disclosuresSource version date: 2026-03-19 View calculation inputs · 4 items
| 67.62%Basis · Calculated from disclosuresSource version date: 2026-03-19 View calculation inputs · 4 items
| 57.77%Basis · Calculated from disclosuresSource version date: 2026-03-19 View calculation inputs · 4 items
| 23.12%Basis · Calculated from disclosuresSource version date: 2026-03-19 View calculation inputs · 5 items
|
| 2025-11-272025-11-27 | 56.04%Basis · Calculated from disclosuresSource version date: 2025-12-18 View calculation inputs · 4 items
| 44.98%Basis · Calculated from disclosuresSource version date: 2025-12-18 View calculation inputs · 4 items
| 38.41%Basis · Calculated from disclosuresSource version date: 2025-12-18 View calculation inputs · 4 items
| 22.15%Basis · Calculated from disclosuresSource version date: 2025-12-18 View calculation inputs · 5 items
|
Calculations and sources 4 items
Gross margin% · Calculated from disclosures
Calculation basis
Gross profit / revenue × 100
Reading guide
Company-wide reported gross margin is not the margin of any individual product, segment or order. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.
Data classification
Calculated from disclosures · %
Supporting sources
MU · 10-K · Filing version 2019-10-17MU · 10-K · Filing version 2020-10-19MU · 10-Q · Filing version 2021-01-08MU · 10-Q · Filing version 2021-04-01MU · 10-Q · Filing version 2021-07-01MU · 10-Q · Filing version 2022-01-06MU · 10-Q · Filing version 2022-03-30MU · 10-Q · Filing version 2022-07-01MU · 10-K · Filing version 2023-10-06MU · 10-Q · Filing version 2022-12-22MU · 10-Q · Filing version 2023-03-29MU · 10-Q · Filing version 2023-06-29MU · 10-K · Filing version 2024-10-04MU · 10-Q · Filing version 2023-12-21MU · 10-Q · Filing version 2024-03-21MU · 10-Q · Filing version 2024-06-27MU · 10-K · Filing version 2025-10-03MU · 10-Q · Filing version 2024-12-19MU · 10-Q · Filing version 2025-03-21MU · 10-Q · Filing version 2025-06-26MU · 10-K · Filing version 2026-10-09MU · 10-Q · Filing version 2025-12-18MU · 10-Q · Filing version 2026-03-19MU · 10-Q · Filing version 2026-06-25
Operating margin% · Calculated from disclosures
Calculation basis
Operating income / revenue × 100
Reading guide
Uses reported operating income, not adjusted earnings. Differences in expense classification can still limit comparisons across companies. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.
Data classification
Calculated from disclosures · %
Supporting sources
MU · 10-K · Filing version 2019-10-17MU · 10-K · Filing version 2020-10-19MU · 10-Q · Filing version 2021-01-08MU · 10-Q · Filing version 2021-04-01MU · 10-Q · Filing version 2021-07-01MU · 10-Q · Filing version 2022-01-06MU · 10-Q · Filing version 2022-03-30MU · 10-Q · Filing version 2022-07-01MU · 10-K · Filing version 2023-10-06MU · 10-Q · Filing version 2022-12-22MU · 10-Q · Filing version 2023-03-29MU · 10-Q · Filing version 2023-06-29MU · 10-K · Filing version 2024-10-04MU · 10-Q · Filing version 2023-12-21MU · 10-Q · Filing version 2024-03-21MU · 10-Q · Filing version 2024-06-27MU · 10-K · Filing version 2025-10-03MU · 10-Q · Filing version 2024-12-19MU · 10-Q · Filing version 2025-03-21MU · 10-Q · Filing version 2025-06-26MU · 10-K · Filing version 2026-10-09MU · 10-Q · Filing version 2025-12-18MU · 10-Q · Filing version 2026-03-19MU · 10-Q · Filing version 2026-06-25
Net margin% · Calculated from disclosures
Calculation basis
Selected net-income concept / revenue × 100
Reading guide
May reflect differences in non-controlling interests, taxes and one-time gains or losses. The specific net-income concept is retained for each observation. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.
Data classification
Calculated from disclosures · %
Supporting sources
MU · 10-K · Filing version 2019-10-17MU · 10-K · Filing version 2020-10-19MU · 10-Q · Filing version 2021-01-08MU · 10-Q · Filing version 2021-04-01MU · 10-Q · Filing version 2021-07-01MU · 10-Q · Filing version 2022-07-01MU · 10-Q · Filing version 2022-01-06MU · 10-Q · Filing version 2022-03-30MU · 10-K · Filing version 2023-10-06MU · 10-Q · Filing version 2023-06-29MU · 10-Q · Filing version 2022-12-22MU · 10-Q · Filing version 2023-03-29MU · 10-K · Filing version 2024-10-04MU · 10-Q · Filing version 2024-06-27MU · 10-Q · Filing version 2023-12-21MU · 10-Q · Filing version 2024-03-21MU · 10-K · Filing version 2025-10-03MU · 10-Q · Filing version 2025-06-26MU · 10-Q · Filing version 2024-12-19MU · 10-Q · Filing version 2025-03-21MU · 10-K · Filing version 2026-10-09MU · 10-Q · Filing version 2025-12-18MU · 10-Q · Filing version 2026-03-19MU · 10-Q · Filing version 2026-06-25
(CFO − cash purchases of PP&E) / revenue% · Calculated from disclosures
Calculation basis
(Operating cash flow − cash purchases of PP&E) / revenue × 100
Reading guide
A free-cash-flow proxy deducting only identified PP&E purchases. It does not deduct acquisitions, capital prepayments, intangible assets or lease principal, and does not establish cash distributable to common shareholders. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.
Data classification
Calculated from disclosures · %
Supporting sources
MU · 10-Q · Filing version 2018-12-19MU · 10-K · Filing version 2019-10-17MU · 10-Q · Filing version 2019-03-21MU · 10-Q · Filing version 2019-06-26MU · 10-K · Filing version 2020-10-19MU · 10-Q · Filing version 2019-12-20MU · 10-Q · Filing version 2020-03-26MU · 10-Q · Filing version 2020-06-29MU · 10-K · Filing version 2021-10-08MU · 10-Q · Filing version 2021-01-08MU · 10-Q · Filing version 2021-04-01MU · 10-Q · Filing version 2021-07-01MU · 10-K · Filing version 2022-10-07MU · 10-Q · Filing version 2022-01-06MU · 10-Q · Filing version 2022-03-30MU · 10-Q · Filing version 2022-07-01MU · 10-K · Filing version 2023-10-06MU · 10-Q · Filing version 2022-12-22MU · 10-Q · Filing version 2023-03-29MU · 10-Q · Filing version 2023-06-29MU · 10-K · Filing version 2024-10-04MU · 10-Q · Filing version 2023-12-21MU · 10-Q · Filing version 2024-03-21MU · 10-Q · Filing version 2024-06-27MU · 10-K · Filing version 2025-10-03MU · 10-Q · Filing version 2024-12-19MU · 10-Q · Filing version 2025-03-21MU · 10-Q · Filing version 2025-06-26MU · 10-K · Filing version 2026-10-09MU · 10-Q · Filing version 2025-12-18MU · 10-Q · Filing version 2026-03-19MU · 10-Q · Filing version 2026-06-25
Business and operating model
Where revenue comes from and which operating changes still require verification.
Micron designs and manufactures DRAM, NAND and related memory and storage products. HBM, conventional DRAM and NAND serve different demand, and revenue changes reflect selling prices, bit shipments and product mix together. [1]
Primary company business materials are availableCheck supporting sources ↗
| Operating mechanism | How operating results are affected | Verifiable metrics |
|---|---|---|
| Selling price × bit shipments × mix → revenue and gross margin | Read DRAM and NAND pricing and bit shipment changes separately. Where growth is disclosed only as a range, retain the original description; do not use range midpoints to manufacture continuous curves. [1] | |
| Strategic customer agreements → prepayments → delivery | RPO is measured using committed volumes and minimum prices. Customer deposits are contract liabilities, and some must be returned in the future. RPO, deposits and recognized revenue cannot be added together. [1] | |
| Capacity investment → cost reductions / cash tied up | Capacity expansion and process transitions require capital. Compare gross margin, inventory and cash capital expenditure to distinguish a price upcycle from sustainable unit-cost improvements. [1] |
Products, paying customers and use cases
Products and services
- Cloud Memory Business Unit (CMBU)
- Memory for major cloud customers and HBM for all data center customers. The entire segment cannot be equated with HBM. [1]
- Core Data Center Business Unit (CDBU)
- Data center storage, SSDs and memory for OEMs, enterprises and NeoCloud customers. Distinguish this from CMBU using the company's definitions. [1]
How supply, demand and capital affect the company
Anonymous customers · MU (strategic customer agreements, SCA) Offtake and leasing
At 2026-09-03, strategic customer agreements carried approximately $134bn of RPO, about one-quarter expected within 12 months and all within five years of the balance-sheet date. Contract liabilities were about $13bn. Most of the approximately $12.75bn of customer deposits are refundable in 2029–2031. These measures must not be added; counterparties are unnamed. [4]
Signed or existingAnonymous customer · MU (≥10% customer) Customer
Historical concentration: one unnamed customer represented 10% of revenue in the nine months ended 2026-05-28. For full FY2026 ended September 3, no customer reached 10%. Different measurement periods do not establish that the customer relationship ended. [5]
Signed or existingUnited States Department of Commerce (US Government) Capital and financing
CHIPS Act direct funding: a December 9, 2024 direct funding agreement with the U.S. Department of Commerce for up to $6.1 billion covering the Boise, ID and Clay, NY fabs; June 2025 amendments reallocated part of that funding to a second Idaho fab with the $6.1 billion total unchanged; a separate June 11, 2025 agreement provides up to $275 million for Manassas, VA — total CHIPS Act grants of up to $6.4 billion, disbursed against construction, tool-installation and wafer-production milestones, with dividend and share-repurchase restrictions over a five-year period and clawback rights. [3]
Signed or existingCompany profile and filings
- Legal name
- Micron Technology, Inc.
- Exchange / quote currency
- NASDAQ / USD
- Reporting currency
- USD
- Source industry classification
- Semiconductors
- Financial period end / Source version used
- 2026-09-03 / 2026-10-09
- Value-chain roles (not revenue shares)
- Memory and storage (HBM + nearline)
Related companies in the value chain
Shared value-chain roles do not establish direct peer status or valuation comparability.
Operating observations and counterevidence
Continue checking facts that could change the conclusions; no hypothetical thresholds are assigned to observations without reliable inputs.
01
Changes in business and product mix
Track DRAM and NAND and the mix of Cloud Memory and Core Data Center segments. Use restated data across segment reorganizations; identical names alone do not justify splicing series together. [1]
02
Customer deposits are not earned revenue
Review deposit liabilities, future refund arrangements and the RPO recognition period together. FY2026 customer deposit inflows are classified as financing activities, not operating cash flow or recognized revenue. [1]
What evidence would weaken these conclusions?
- Do inventory and cash consumption weaken the upcycle?
If pricing growth slows, inventory rises and capital expenditure continues to increase, reassess cash recovery assumptions. HBM demand is not a substitute for testing the full product mix. [1]
Conclusions not yet supported
- Is there a consistent historical series for standalone HBM revenue, yield and unit cost?
- Undisclosed or non-comparable items remain watch points. HBM revenue is not inferred from total CMBU revenue. [1]
MARKET DATAQuote details
Candlesticks, volume and cross-company prices
928.76 +2.77%
Quote details
Candlesticks, volume and cross-company prices
2026-07-23 — 2026-10-23Price change over the selected period -11.38%
Daily · Provider split-adjusted prices, excluding dividends · USD · Valid closes: 10682 / trading dates: 10682Market data source
MARKET & FUNDAMENTALS
Data timestamps Quote and valuation methodology
Trading overview
- Previous close
- 903.70
- Session open
- 920.99
- Session range
- 910.67 – 935.87
- Session volume
- 23.19 M
- 20 Average daily volume
- 26.90 M
- Historical range
- 0.34 – 1,255.00
Valuation and cash
- Market cap · USD
- 1.09 T
- Price / sales · Annual
- 8.18
- Free cash flow yield
- 5.41%
Financial denominator
- Revenue · Annual
- 133.19 B USD
- Period end
- 2026-09-03
- Source version
- 2026-10-09
Quote 2026-10-27Market cap retrieved 2026-10-28Financial period end 2026-09-03
Research archiveNo standalone articles or full reports for this company have been included yet
Public financial and operating analysis is available. Standalone research has not yet been published; exploreOperating data、Financial comparison and SourceSource document。
Financial comparison
Select two specific periods to compare changes in scale, earnings and cash.
USD · Quarter
Current period 2026-05-29 — 2026-09-03Comparison period 2026-02-27 — 2026-05-28
| Line item | Current period | Comparison period | Amount change | Growth |
|---|---|---|---|---|
| RevenueRecognized revenue; growth is calculated only when the comparison-period base is positive | 54.23 BDerived by subtractionRaw value 54,229,000,000.00 USD 2026-05-29 — 2026-09-03 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 41.46 B | +12.77 B | +30.81% |
| Gross profitGross margin 86.76% · Change +2.19 percentage points | 47.05 BDerived by subtractionRaw value 47,047,000,000.00 USD 2026-05-29 — 2026-09-03 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 35.06 B | +11.99 B | +34.21% |
| Operating incomeOperating margin 80.68% · Change +0.31 percentage points | 43.75 BDerived by subtractionRaw value 43,751,000,000.00 USD 2026-05-29 — 2026-09-03 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 33.32 B | +10.43 B | +31.31% |
| Net incomeNet margin 69.52% · Change +1.39 percentage points | 37.70 BDerived by subtractionRaw value 37,701,000,000.00 USD 2026-05-29 — 2026-09-03 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 28.24 B | +9.46 B | +33.49% |
| Operating cash flowOperating cash flow / revenue 81.09% · Change +19.85 percentage points | 43.97 BDerived by subtractionRaw value 43,973,000,000.00 USD 2026-05-29 — 2026-09-03 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 25.39 BDerived by subtractionRaw value 25,388,000,000.00 USD 2026-02-27 — 2026-05-28 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| +18.59 B | +73.20% |
| Capital expenditureCapital expenditure / revenue 20.49% · Change +1.61 percentage points | 11.11 BDerived by subtractionRaw value 11,110,000,000.00 USD 2026-05-29 — 2026-09-03 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 7.83 BDerived by subtractionRaw value 7,826,000,000.00 USD 2026-02-27 — 2026-05-28 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| +3.28 B | +41.96% |
The change is the current value minus the comparison value; it is not automatically classified as year-over-year or quarter-over-quarter. Select a value to inspect reporting dates, filing versions and reconstruction inputs.
Historical trends and full financials
Comparable-period financial trends
Last value in range
Time rangeRevenue
2017-11-30 — 2026-09-03
Methodology and controls
Series with the same unit and frequency share a value axis. Each column compares observations with matching period boundaries and units. Records that fail those checks remain blank. Drag within the chart to zoom and move the range window below to pan. Quarterly values are not filled across other trading days.
Scroll to see all periods; select a value to open its source →
| Reporting period end · USD | 2017-11-30 | 2018-03-01 | 2018-05-31 | 2018-08-30 | 2018-11-29 | 2019-02-28 | 2019-05-30 | 2019-08-29 | 2019-11-28 | 2020-02-27 | 2020-05-28 | 2020-09-03 | 2020-12-03 | 2021-03-04 | 2021-06-03 | 2021-09-02 | 2021-12-02 | 2022-03-03 | 2022-06-02 | 2022-09-01 | 2022-12-01 | 2023-03-02 | 2023-06-01 | 2023-08-31 | 2023-11-30 | 2024-02-29 | 2024-05-30 | 2024-08-29 | 2024-11-28 | 2025-02-27 | 2025-05-29 | 2025-08-28 | 2025-11-27 | 2026-02-26 | 2026-05-28 | 2026-09-03 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 6.80 B | 7.35 B | 7.80 B | 8.44 B | 7.91 B | 5.84 B | 4.79 B | 4.87 B | 5.14 B | 4.80 B | 5.44 B | 6.06 B | 5.77 B | 6.24 B | 7.42 B | 8.27 BDerived by subtractionRaw value 8,274,000,000.00 USD 2021-06-04 — 2021-09-02 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 7.69 B | 7.79 B | 8.64 B | 6.64 BDerived by subtractionRaw value 6,643,000,000.00 USD 2022-06-03 — 2022-09-01 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 4.09 B | 3.69 B | 3.75 B | 4.01 BDerived by subtractionRaw value 4,010,000,000.00 USD 2023-06-02 — 2023-08-31 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 4.73 B | 5.82 B | 6.81 B | 7.75 BDerived by subtractionRaw value 7,750,000,000.00 USD 2024-05-31 — 2024-08-29 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 8.71 B | 8.05 B | 9.30 B | 11.32 BDerived by subtractionRaw value 11,315,000,000.00 USD 2025-05-30 — 2025-08-28 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 13.64 B | 23.86 B | 41.46 B | 54.23 BDerived by subtractionRaw value 54,229,000,000.00 USD 2026-05-29 — 2026-09-03 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
|
| Gross profit | 3.75 B | 4.27 B | 4.72 B | 5.15 B | 4.62 B | 2.86 B | 1.83 B | 1.40 B | 1.37 B | 1.36 B | 1.76 B | 2.07 B | 1.74 B | 1.65 B | 3.13 B | 3.91 BDerived by subtractionRaw value 3,912,000,000.00 USD 2021-06-04 — 2021-09-02 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 3.57 B | 3.68 B | 4.04 B | 2.62 BDerived by subtractionRaw value 2,622,000,000.00 USD 2022-06-03 — 2022-09-01 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 893.00 M | -1.21 B | -668.00 M | -435.00 MDerived by subtractionRaw value -435,000,000.00 USD 2023-06-02 — 2023-08-31 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| -35.00 M | 1.08 B | 1.83 B | 2.74 BDerived by subtractionRaw value 2,737,000,000.00 USD 2024-05-31 — 2024-08-29 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 3.35 B | 2.96 B | 3.51 B | 5.05 BDerived by subtractionRaw value 5,054,000,000.00 USD 2025-05-30 — 2025-08-28 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 7.65 B | 17.76 B | 35.06 B | 47.05 BDerived by subtractionRaw value 47,047,000,000.00 USD 2026-05-29 — 2026-09-03 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
|
| Operating income | 3.10 B | 3.57 B | 3.95 B | 4.38 B | 3.76 B | 1.96 B | 1.01 B | 650.00 M | 518.00 M | 440.00 M | 888.00 M | 1.16 B | 866.00 M | 663.00 M | 1.80 B | 2.96 BDerived by subtractionRaw value 2,955,000,000.00 USD 2021-06-04 — 2021-09-02 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 2.63 B | 2.55 B | 3.00 B | 1.52 BDerived by subtractionRaw value 1,521,000,000.00 USD 2022-06-03 — 2022-09-01 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| -209.00 M | -2.30 B | -1.76 B | -1.47 BDerived by subtractionRaw value -1,472,000,000.00 USD 2023-06-02 — 2023-08-31 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| -1.13 B | 191.00 M | 719.00 M | 1.52 BDerived by subtractionRaw value 1,522,000,000.00 USD 2024-05-31 — 2024-08-29 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 2.17 B | 1.77 B | 2.17 B | 3.65 BDerived by subtractionRaw value 3,654,000,000.00 USD 2025-05-30 — 2025-08-28 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 6.14 B | 16.14 B | 33.32 B | 43.75 BDerived by subtractionRaw value 43,751,000,000.00 USD 2026-05-29 — 2026-09-03 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
|
| Net income | 2.68 B | 3.31 B | 3.82 B | 4.33 B | 3.29 B | 1.62 B | 840.00 M | 561.00 M | 491.00 M | 405.00 M | 803.00 M | 988.00 M | 803.00 M | 603.00 M | 1.74 B | 2.72 BDerived by subtractionRaw value 2,720,000,000.00 USD 2021-06-04 — 2021-09-02 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 2.31 B | 2.26 B | 2.63 B | 1.49 BDerived by subtractionRaw value 1,492,000,000.00 USD 2022-06-03 — 2022-09-01 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| -195.00 M | -2.31 B | -1.90 B | -1.43 BDerived by subtractionRaw value -1,430,000,000.00 USD 2023-06-02 — 2023-08-31 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| -1.23 B | 793.00 M | 332.00 M | 887.00 MDerived by subtractionRaw value 887,000,000.00 USD 2024-05-31 — 2024-08-29 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 1.87 B | 1.58 B | 1.89 B | 3.20 BDerived by subtractionRaw value 3,201,000,000.00 USD 2025-05-30 — 2025-08-28 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 5.24 B | 13.79 B | 28.24 B | 37.70 BDerived by subtractionRaw value 37,701,000,000.00 USD 2026-05-29 — 2026-09-03 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
|
| Operating cash flow | 3.64 B | 4.35 BDerived by subtractionRaw value 4,348,000,000.00 USD 2017-12-01 — 2018-03-01 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 4.26 BDerived by subtractionRaw value 4,261,000,000.00 USD 2018-03-02 — 2018-05-31 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 5.16 BDerived by subtractionRaw value 5,155,000,000.00 USD 2018-06-01 — 2018-08-30 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 4.81 B | 3.44 BDerived by subtractionRaw value 3,435,000,000.00 USD 2018-11-30 — 2019-02-28 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 2.71 BDerived by subtractionRaw value 2,711,000,000.00 USD 2019-03-01 — 2019-05-30 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 2.23 BDerived by subtractionRaw value 2,233,000,000.00 USD 2019-05-31 — 2019-08-29 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 2.01 B | 2.00 BDerived by subtractionRaw value 2,001,000,000.00 USD 2019-11-29 — 2020-02-27 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 2.02 BDerived by subtractionRaw value 2,023,000,000.00 USD 2020-02-28 — 2020-05-28 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 2.27 BDerived by subtractionRaw value 2,271,000,000.00 USD 2020-05-29 — 2020-09-03 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 1.97 B | 3.06 BDerived by subtractionRaw value 3,057,000,000.00 USD 2020-12-04 — 2021-03-04 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 3.56 BDerived by subtractionRaw value 3,560,000,000.00 USD 2021-03-05 — 2021-06-03 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 3.88 BDerived by subtractionRaw value 3,884,000,000.00 USD 2021-06-04 — 2021-09-02 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 3.94 B | 3.63 BDerived by subtractionRaw value 3,628,000,000.00 USD 2021-12-03 — 2022-03-03 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 3.84 BDerived by subtractionRaw value 3,838,000,000.00 USD 2022-03-04 — 2022-06-02 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 3.78 BDerived by subtractionRaw value 3,777,000,000.00 USD 2022-06-03 — 2022-09-01 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 943.00 M | 343.00 MDerived by subtractionRaw value 343,000,000.00 USD 2022-12-02 — 2023-03-02 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 24.00 MDerived by subtractionRaw value 24,000,000.00 USD 2023-03-03 — 2023-06-01 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 249.00 MDerived by subtractionRaw value 249,000,000.00 USD 2023-06-02 — 2023-08-31 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 1.40 B | 1.22 BDerived by subtractionRaw value 1,219,000,000.00 USD 2023-12-01 — 2024-02-29 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 2.48 BDerived by subtractionRaw value 2,482,000,000.00 USD 2024-03-01 — 2024-05-30 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 3.41 BDerived by subtractionRaw value 3,405,000,000.00 USD 2024-05-31 — 2024-08-29 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 3.24 B | 3.94 BDerived by subtractionRaw value 3,942,000,000.00 USD 2024-11-29 — 2025-02-27 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 4.61 BDerived by subtractionRaw value 4,609,000,000.00 USD 2025-02-28 — 2025-05-29 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 5.73 BDerived by subtractionRaw value 5,730,000,000.00 USD 2025-05-30 — 2025-08-28 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 8.41 B | 11.90 BDerived by subtractionRaw value 11,903,000,000.00 USD 2025-11-28 — 2026-02-26 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 25.39 BDerived by subtractionRaw value 25,388,000,000.00 USD 2026-02-27 — 2026-05-28 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 43.97 BDerived by subtractionRaw value 43,973,000,000.00 USD 2026-05-29 — 2026-09-03 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
|
| Capital expenditure | 1.96 B | 2.26 BDerived by subtractionRaw value 2,261,000,000.00 USD 2017-12-01 — 2018-03-01 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 2.41 BDerived by subtractionRaw value 2,411,000,000.00 USD 2018-03-02 — 2018-05-31 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 2.25 BDerived by subtractionRaw value 2,251,000,000.00 USD 2018-06-01 — 2018-08-30 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 2.70 B | 2.65 BDerived by subtractionRaw value 2,649,000,000.00 USD 2018-11-30 — 2019-02-28 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 2.40 BDerived by subtractionRaw value 2,403,000,000.00 USD 2019-03-01 — 2019-05-30 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 2.03 BDerived by subtractionRaw value 2,028,000,000.00 USD 2019-05-31 — 2019-08-29 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 1.94 B | 2.06 BDerived by subtractionRaw value 2,056,000,000.00 USD 2019-11-29 — 2020-02-27 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 1.94 BDerived by subtractionRaw value 1,944,000,000.00 USD 2020-02-28 — 2020-05-28 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 2.28 BDerived by subtractionRaw value 2,280,000,000.00 USD 2020-05-29 — 2020-09-03 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 2.74 B | 3.02 BDerived by subtractionRaw value 3,018,000,000.00 USD 2020-12-04 — 2021-03-04 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 2.26 BDerived by subtractionRaw value 2,259,000,000.00 USD 2021-03-05 — 2021-06-03 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 2.02 BDerived by subtractionRaw value 2,015,000,000.00 USD 2021-06-04 — 2021-09-02 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 3.27 B | 2.61 BDerived by subtractionRaw value 2,611,000,000.00 USD 2021-12-03 — 2022-03-03 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 2.58 BDerived by subtractionRaw value 2,578,000,000.00 USD 2022-03-04 — 2022-06-02 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 3.61 BDerived by subtractionRaw value 3,613,000,000.00 USD 2022-06-03 — 2022-09-01 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 2.45 B | 2.21 BDerived by subtractionRaw value 2,205,000,000.00 USD 2022-12-02 — 2023-03-02 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 1.56 BDerived by subtractionRaw value 1,561,000,000.00 USD 2023-03-03 — 2023-06-01 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 1.46 BDerived by subtractionRaw value 1,461,000,000.00 USD 2023-06-02 — 2023-08-31 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 1.80 B | 1.38 BDerived by subtractionRaw value 1,384,000,000.00 USD 2023-12-01 — 2024-02-29 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 2.09 BDerived by subtractionRaw value 2,086,000,000.00 USD 2024-03-01 — 2024-05-30 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 3.12 BDerived by subtractionRaw value 3,120,000,000.00 USD 2024-05-31 — 2024-08-29 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 3.21 B | 4.06 BDerived by subtractionRaw value 4,055,000,000.00 USD 2024-11-29 — 2025-02-27 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 2.94 BDerived by subtractionRaw value 2,938,000,000.00 USD 2025-02-28 — 2025-05-29 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 5.66 BDerived by subtractionRaw value 5,658,000,000.00 USD 2025-05-30 — 2025-08-28 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
| 5.39 B | 6.39 BDerived by subtractionRaw value 6,387,000,000.00 USD 2025-11-28 — 2026-02-26 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 7.83 BDerived by subtractionRaw value 7,826,000,000.00 USD 2026-02-27 — 2026-05-28 · USD · Reconstructed from cumulative disclosures Quarter reconstructed: current cumulative value − previous cumulative value
| 11.11 BDerived by subtractionRaw value 11,110,000,000.00 USD 2026-05-29 — 2026-09-03 · USD · Reconstructed from cumulative disclosures Fourth quarter reconstructed: full year − first nine months
|
Comparison rules and gaps
Comparison columns require aligned period boundaries, currency and duration. Blank values are not zero; directly reported quarters and cumulative reconstructions are distinguished. A non-positive comparison base is shown as an amount change without a percentage growth rate.
View filing sourceEvents and disclosure records
Completed events, conditional arrangements and the document versions used are listed separately.
Disclosed events
Anonymous customers · MU (strategic customer agreements, SCA) · Offtake and leasing
At 2026-09-03, strategic customer agreements carried approximately $134bn of RPO, about one-quarter expected within 12 months and all within five years of the balance-sheet date. Contract liabilities were about $13bn. Most of the approximately $12.75bn of customer deposits are refundable in 2029–2031. These measures must not be added; counterparties are unnamed. [4]
Disclosed events
Anonymous customer · MU (≥10% customer) · Customer
Historical concentration: one unnamed customer represented 10% of revenue in the nine months ended 2026-05-28. For full FY2026 ended September 3, no customer reached 10%. Different measurement periods do not establish that the customer relationship ended. [5]
Disclosed events
Rambus, Inc. · Supply
Comprehensive patent license agreement extended by five years, giving Micron broad access to the full Rambus patent portfolio through late 2029; financial terms confidential [2]
Disclosed events
United States Department of Commerce (US Government) · Capital and financing
CHIPS Act direct funding: a December 9, 2024 direct funding agreement with the U.S. Department of Commerce for up to $6.1 billion covering the Boise, ID and Clay, NY fabs; June 2025 amendments reallocated part of that funding to a second Idaho fab with the $6.1 billion total unchanged; a separate June 11, 2025 agreement provides up to $275 million for Manassas, VA — total CHIPS Act grants of up to $6.4 billion, disbursed against construction, tool-installation and wafer-production milestones, with dividend and share-repurchase restrictions over a five-year period and clawback rights. [3]
Included financial source versions
- 10-K Original financial filings ↗
This page cites periods ending through 2026-09-03. The same document includes multiple comparison periods.
- 10-Q Original financial filings ↗
This page cites periods ending through 2026-05-28. The same document includes multiple comparison periods.
- 10-Q Original financial filings ↗
This page cites periods ending through 2026-02-26. The same document includes multiple comparison periods.
- 10-Q Original financial filings ↗
This page cites periods ending through 2025-11-27. The same document includes multiple comparison periods.
- 10-K Original financial filings ↗
This page cites periods ending through 2023-08-31.
- 10-Q Original financial filings ↗
This page cites periods ending through 2024-05-30. The same document includes multiple comparison periods.
Showing the latest 6 recorded source versions. Find the remaining 59 in Source values in the full financial table.
Industry relationships and operating mechanisms
Trace supply and demand through contract performance, operating metrics and cash attribution.
Direct relationships: 4 · Excluded by current filters: 5
Upstream supply
1 companies2024-12-101 record
Downstream demand
2 companies2026-09-031 record
2026-09-031 record
Capital sources
1 companies2024-12-091 record
Capital deployed: no records under the current criteria; this does not establish that a business relationship is absent.
Goods and services are arranged from supplier to customer; capital is shown separately. Select a relationship to inspect its evidence and operating mechanism. Second-degree paths do not establish guarantees or certain revenue.
Relationship records
4 records| Economic direction / relationship type | Status / record date | Recorded amount | Capacity basis | Evidence source |
|---|---|---|---|---|
| Signed / existing2026-09-03 | USD 134 billionAmount associated with the contract relationship | Not structured | A · Original filingCheck public source ↗ | |
| Signed / existing2026-09-03 | No attributable amount providedAmount classification not yet structured | Not structured | A · Original filingCheck public source ↗ | |
| Signed / existing2024-12-10 | No attributable amount providedAmount classification not yet structured | Not structured | B · Company / mediaCheck public source ↗ | |
| Signed / existing2024-12-09 | USD 6.4 billionAmount classification not yet structured | Not structured | A · Original filingCheck public source ↗ |
1–4 / 4 records
Downstream demand · Capacity offtake
MU Anonymous customers · MU (strategic customer agreements, SCA)
What this relationship establishes
As of 2026-09-03, strategic customer agreements carried approximately $134bn of RPO; about one-quarter is expected to be recognized within the next 12 months and all within five years of the period end
- Relationship type
- Capacity offtake
Recorded as signed or existing; performance progress requires separate verification
- Amount basis
- USD 134 billion Amount associated with the contract relationship
- As of 2026-09-03, strategic customer agreements carried approximately $134bn of RPO; about one-quarter is expected to be recognized within the next 12 months and all within five years of the period end
- Contract liabilities of approximately $13 billion
- Approximately $12.75 billion in customer deposits, most refundable between 2029 and 2031
Contract duration, revenue recognition and cash collection do not follow the same schedule. Dividing the total by the contract term is not a substitute for actual period results. The graph's USD field retains its stored value; the original wording determines whether an amount is exact, approximate, a floor or a cap.
- Attribution
- Applies to this relationship; the original document determines the specific legal entities and attribution.
The counterparty is unnamed; no specific company is inferred.
- Concentration
- A relationship amount and company denominator with matching periods and definitions are not provided
Relationship counts, capacity and total contract value are not measures of revenue or procurement concentration.
Complete record and source location
At 2026-09-03, strategic customer agreements carried approximately $134bn of RPO, about one-quarter expected within 12 months and all within five years of the balance-sheet date. Contract liabilities were about $13bn. Most of the approximately $12.75bn of customer deposits are refundable in 2029–2031. These measures must not be added; counterparties are unnamed.
A · Original filing
Reviewed 2026-10-23 · primary document https://www.sec.gov/Archives/edgar/data/723125/000072312526000023/mu-20260903.htm [A]
Customer demand and execution
The excerpts below come from this record. Verify signed status separately from actual completion.
- As of 2026-09-03, strategic customer agreements carried approximately $134bn of RPO; about one-quarter is expected to be recognized within the next 12 months and all within five years of the period end
Limitations in the original record
- RPO, contract liabilities and customer deposits must not be added together; counterparties are unnamed
Inputs still needed to quantify the impact
- A period-by-period schedule of contractual cash receipts, cash payments and revenue recognition
- Performance, termination and substitute-capacity provisions
- Attribution to equity after construction, maintenance, taxes, fees and financing
The amount associated with a relationship cannot substitute for the company's revenue, earnings or stock-price impact. Applies to this relationship; the original document determines the specific legal entities and attribution.
How to test the operating mechanism
Analytical framework, not a realized impact
- Contract terms
Anonymous customers · MU (strategic customer agreements, SCA) purchases products or services from MU under an offtake arrangement; first distinguish leases, cloud services and other offtake arrangements.
- Contract execution
Track delivery, lease commencement or service activation, cancellation conditions and renewal options for each tranche.
- Financial outcomes
Present the nominal contract amount, revenue recognized during the period, cash receipts and spending to fulfill the contract separately.
- Testing price implications
Verify the effective contract term, capital investment and financing attribution before estimating cash attributable to shareholders.
Cross-check relationship events against subsequent disclosures of company revenue, costs, working capital and cash flows; movements in the same direction alone do not establish causation.
Operating data to test the relationship
MU · Company-specific metric definitions and classificationsMetrics test operating processes; an overall change cannot be attributed to a single relationship. Expand the definitions to check calculation methods and their applicable boundaries.
Profit and costs
Can revenue growth translate into earnings attributable to shareholders?
Preserve the distinctions relating to depreciation, stock-based compensation, adjustments and segments. The company's margin cannot be applied as this contract's margin.| Operating metric | Latest value | Definition and boundaries |
|---|---|---|
| Gross margin ↗2026-09-03 · Research calculation | 86.76% | Definition and boundariesGross profit / revenue × 100 Company-wide reported gross margin is not the margin of any individual product, segment or order. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations. |
| Operating margin ↗2026-09-03 · Research calculation | 80.68% | Definition and boundariesOperating income / revenue × 100 Uses reported operating income, not adjusted earnings. Differences in expense classification can still limit comparisons across companies. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations. |
| Net margin ↗2026-09-03 · Research calculation | 69.52% | Definition and boundariesSelected net-income concept / revenue × 100 May reflect differences in non-controlling interests, taxes and one-time gains or losses. The specific net-income concept is retained for each observation. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations. |
| Operating cash flow / revenue ↗2026-09-03 · Research calculation | 81.09% | Definition and boundariesOperating cash flow / revenue × 100 Shows operating cash inflows and outflows, including working capital and taxes. It is neither a contract collection rate nor cash available for shareholder distribution. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations. |
| (CFO − cash purchases of PP&E) / revenue ↗2026-09-03 · Research calculation | 60.6% | Definition and boundaries(Operating cash flow − cash purchases of PP&E) / revenue × 100 A free-cash-flow proxy deducting only identified PP&E purchases. It does not deduct acquisitions, capital prepayments, intangible assets or lease principal, and does not establish cash distributable to common shareholders. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations. |
| Cloud Memory (CMBU) operating margin ↗FY2026 · Research calculation | 72.47% | Definition and boundaries(Cloud Memory (CMBU) operating income) / Cloud Memory (CMBU) revenue × 100 Calculated from the amounts shown in the source document; results may differ slightly from ratios rounded separately in that document. |
Revenue realization
Has relationship expansion converted into recognizable business revenue?
Reconcile by business and financial period. Total company revenue does not establish the selected customer's individual contribution.| Operating metric | Latest value | Definition and boundaries |
|---|---|---|
| Annual total revenue ↗FY2026 · Reported data | 133,188 USD million | Definition and boundariesDirectly reported in the source document Uses annual product/segment figures recast in the same FY2026 10-K; fiscal 2026 contains 53 weeks. The cloud-memory segment does not represent separately reported HBM revenue. |
| DRAM product revenue ↗FY2026 · Reported data | 100,679 USD million | Definition and boundariesDirectly reported in the source document Uses annual product/segment figures recast in the same FY2026 10-K; fiscal 2026 contains 53 weeks. The cloud-memory segment does not represent separately reported HBM revenue. |
| NAND product revenue ↗FY2026 · Reported data | 31,785 USD million | Definition and boundariesDirectly reported in the source document Uses annual product/segment figures recast in the same FY2026 10-K; fiscal 2026 contains 53 weeks. The cloud-memory segment does not represent separately reported HBM revenue. |
| Cloud Memory (CMBU) revenue ↗FY2026 · Reported data | 43,085 USD million | Definition and boundariesDirectly reported in the source document Uses annual product/segment figures recast in the same FY2026 10-K; fiscal 2026 contains 53 weeks. The cloud-memory segment does not represent separately reported HBM revenue. |
| Core Data Center (CDBU) revenue ↗FY2026 · Reported data | 37,592 USD million | Definition and boundariesDirectly reported in the source document Uses annual product/segment figures recast in the same FY2026 10-K; fiscal 2026 contains 53 weeks. The cloud-memory segment does not represent separately reported HBM revenue. |
| DRAM share of revenue ↗FY2026 · Research calculation | 75.59% | Definition and boundaries(DRAM product revenue) / Annual total revenue × 100 Calculated from the amounts shown in the source document; results may differ slightly from ratios rounded separately in that document. |
Contract execution
Can disclosed performance obligations convert into revenue over successive periods?
First verify cancellation provisions, remaining terms and disclosure exemptions. A coverage multiple cannot be treated directly as next year's revenue.| Operating metric | Latest value | Definition and boundaries |
|---|---|---|
| Remaining performance obligations balance ↗2026-09-03 · Reported data | 134,000 USD million | Definition and boundariesDirectly reported in the source document Outstanding unfulfilled obligations calculated in the source document from contractual commitments and minimum prices. The original figure of approximately 134B is reported in billions and converted to USDm by ×1000, which does not imply precision to the nearest million. It is neither earned revenue, cash nor a forecast of next-year revenue. |
Show remaining company metrics (10)
Other operating observations
What verifiable information does this metric provide about this relationship?
Use the metric's definition and original inputs. Quantitative attribution to this relationship has not been established.| Operating metric | Latest value | Definition and boundaries |
|---|---|---|
| Revenue growth YoY ↗2026-09-03 · Research calculation | 379.27% | Definition and boundaries(Current-period revenue / comparable prior-year revenue − 1) × 100 Requires the same concept and currency for equal-length periods one year apart, with positive prior-year revenue. A 53-week versus 52-week year may still differ by one week; no daily adjustment is made. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations. |
| Operating cash flow / net income ↗2026-09-03 · Research calculation | 1.17 x | Definition and boundariesOperating cash flow / net income（Net income > 0） Examines cash conversion when earnings are positive. No multiple is calculated when net income is non-positive; taxes, non-cash charges and working capital can all cause divergence. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations. |
| (Net income − operating cash flow) / revenue ↗2026-09-03 · Research calculation | -11.57% | Definition and boundaries(Net income − operating cash flow) / revenue × 100 The amount difference divided by revenue. This is not the Sloan accrual ratio or an earnings-manipulation score. A positive value only indicates that earnings exceed operating cash flow for the same period. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations. |
| Days sales outstanding (average balance) ↗2026-09-03 · Research calculation | 53.03 days | Definition and boundaries(Opening net receivables + closing net receivables) / 2 / revenue × actual days in the period A company-wide proxy for manufacturing and hardware businesses using average opening and closing balances. It is not the payment term in customer contracts. Comparison is with the corresponding prior-year period. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations. |
| Days inventory outstanding (average balance) ↗2026-09-03 · Research calculation | 129.21 days | Definition and boundaries(Opening inventory + closing inventory) / 2 / (revenue − gross profit) × actual days in the period Costs are reconstructed as revenue less reported gross profit for the same period and currency. Inventory mix and impairments can affect the result; it does not establish demand on its own. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations. |
| Cloud Memory (CMBU) operating income ↗FY2026 · Reported data | 31,225 USD million | Definition and boundariesDirectly reported in the source document Uses annual product/segment figures recast in the same FY2026 10-K; fiscal 2026 contains 53 weeks. The cloud-memory segment does not represent separately reported HBM revenue. |
| Combined CMBU and CDBU share of revenue ↗FY2026 · Research calculation | 60.57% | Definition and boundaries(Cloud Memory (CMBU) revenue + Core Data Center (CDBU) revenue) / Annual total revenue × 100 Aggregated using the company's current segments; this is not the HBM share of revenue. Calculated from the amounts shown in the source document; results may differ slightly from ratios rounded separately in that document. |
| Customer contract liabilities balance ↗2026-09-03 · Reported data | 13,000 USD million | Definition and boundariesDirectly reported in the source document The original 13B contract-liability balance is reported in billions and converted to USDm by ×1000, which does not imply precision to the nearest million. It cannot be added to RPO or deposit inflows for the year, nor can the entire balance be equated with earned revenue. |
| Full-year customer deposit inflows (financing activities) ↗FY2026 · Reported data | 12,747 USD million | Definition and boundariesDirectly reported in the source document Full-year inflows classified as financing activities in the cash-flow statement, with an exact value of 12747 USDm. This is neither CFO nor the period-end contract-liability balance. Most deposits are scheduled to be returned in 2029–2031, subject to customers meeting minimum purchase commitments. |
Investment and funding needs
How much cash is required for construction and procurement before delivery?
Compare prepayments, cash capital expenditure and commissioning plans. Current-period revenue is not a substitute for a full investment-recovery calculation.| Operating metric | Latest value | Definition and boundaries |
|---|---|---|
| Cash purchases of PP&E / revenue ↗2026-09-03 · Research calculation | 20.49% | Definition and boundariesCash purchases of PP&E / revenue × 100 Identified cash purchases of PP&E, excluding non-cash additions. Maintenance and expansion investment are not separated. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations. |
Related companies in the value chain 6 companies · Memory and storage (HBM + nearline)
Related browsing is based on overlapping segments in the current graph. It does not establish direct peers, valuation comparability, or a supply, customer or investment relationship.
Source grades, dates and quantitative definitions
A = original SEC or exchange filings; B = company announcements, IR materials, official websites or established media; C = industry-structure inferences or third-party accounts without an independent primary source
Key relationships were reviewed using public information available through 2026-10-23. Historical relationships have not all been individually reverified. Their original dates are retained; delisted entities remain in the relationship archive but are excluded from market-cap weights. Review coverage through 2026-10-23.
Signed status does not mean that the full amount has been paid or that capacity has been delivered. Assess contract value, period revenue, investment, loans, prepayments and guarantee caps separately; do not sum them as a single exposure. Distinguish total power capacity from critical IT load. Company-level metrics cannot be attributed directly to an individual relationship.
Source facts and operating implications are distinguished, with forecasts and conditional scenarios identified as such. Missing relationships mean that this graph has no record of them. Data version 60aad2cdea0eff4f82e9dafe344d1e57aa2b950269b621d7e5bddfef10520644.
EVIDENCE & SOURCES
Sources and filing versionsData and calculation basis
Quotes and valuation
2026-10-27, 16:00 ET · Regular-session close. History through 2026-10-23 uses provider split-adjusted prices, excluding dividends. Full-history adjustment factors have not been independently recalculated. MA20 is the arithmetic mean of 20 recorded trading-day closes and does not bridge missing prices or known corporate actions. Price comparisons exclude dividend reinvestment and do not represent total returns. Market cap retrieved on 2026-10-28. Prices refresh daily. Source timestamps and website update times are shown separately.
The current security identity has been checked. Continuity with earlier issuers has not been independently verified; listing-date coverage is shown separately.
Original verification notes
first-provider-observation-listing-date-not-verified
Current ticker/issuer checked across available sources. Earlier issuer continuity and first listing date are not independently established; provider first observation is not an IPO claim.
Financial statements
Reporting period 2026-09-03; filed 2026-10-09. Financials use the company's reporting periods and currency; unavailable values appear as —. Expand the section below each chart to inspect metric definitions, inputs and original sources.
Business evidence
Primary company business sources · Through 2026-10-09
Citations: 5 · Documents: 4 · Duplicate documents are grouped; individual source locations are retained
1Micron FY2026 10-KPrimary sources
Item 1 products and manufacturing; MD&A pricing / bits; Note 16 contracts; Note 20 segments · document date 2026-10-09
2Rambus press release, 'Rambus and Micron Technology Extend Patent License Agreement'Value-chain archive
Rambus press release, 'Rambus and Micron Technology Extend Patent License Agreement' · Document date unverified
Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.
3Micron FY2025 Form 10-K (filed 2025-10-03), Government Incentives noteValue-chain archive
Micron FY2025 Form 10-K (filed 2025-10-03), Government Incentives note · Document date unverified
Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.
4Reviewed 2026-10-23 · primary document https://www.sec.gov/Archives/edgar/data/723125/000072312526000023/mu-20260903.htm [A]Value-chain archive · 2 citations
References 4
Reviewed 2026-10-23 · primary document https://www.sec.gov/Archives/edgar/data/723125/000072312526000023/mu-20260903.htm [A] · Document date unverified
Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.
References 5
Open source Reviewed 2026-10-23 · primary document https://www.sec.gov/Archives/edgar/data/723125/000072312526000023/mu-20260903.htm [A] · Document date unverified
Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.
No matching sources. Clear the keyword to view all.
- Relationships
- Company announcements, framework intentions and signed agreements are distinguished. Contract amounts do not represent payments already made. Records without sources are flagged separately.
- Version
- 60aad2cdea0eff4f82e9dafe344d1e57aa2b950269b621d7e5bddfef10520644
ResearchSource document
Sources: 3701MU · 10-K · Filing version 2019-10-17
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure02MU · 10-Q · Filing version 2018-12-19
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure03MU · 10-K · Filing version 2018-10-15
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure04MU · 10-Q · Filing version 2017-12-20
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure05MU · 10-Q · Filing version 2019-03-21
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure06MU · 10-Q · Filing version 2018-03-23
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure07MU · 10-Q · Filing version 2019-06-26
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure08MU · 10-Q · Filing version 2018-06-22
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure09MU · 10-K · Filing version 2020-10-19
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure10MU · 10-Q · Filing version 2019-12-20
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure11MU · 10-Q · Filing version 2020-03-26
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure12MU · 10-Q · Filing version 2020-06-29
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure13MU · 10-K · Filing version 2021-10-08
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure14MU · 10-Q · Filing version 2021-01-08
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure15MU · 10-Q · Filing version 2021-04-01
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure16MU · 10-Q · Filing version 2021-07-01
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure17MU · 10-K · Filing version 2022-10-07
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure18MU · 10-Q · Filing version 2022-01-06
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure19MU · 10-Q · Filing version 2022-07-01
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure20MU · 10-Q · Filing version 2022-03-30
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure21MU · 10-K · Filing version 2023-10-06
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure22MU · 10-Q · Filing version 2022-12-22
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure23MU · 10-Q · Filing version 2023-06-29
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure24MU · 10-Q · Filing version 2023-03-29
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure25MU · 10-K · Filing version 2024-10-04
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure26MU · 10-Q · Filing version 2023-12-21
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure27MU · 10-Q · Filing version 2024-06-27
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure28MU · 10-Q · Filing version 2024-03-21
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure29MU · 10-K · Filing version 2025-10-03
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure30MU · 10-Q · Filing version 2024-12-19
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure31MU · 10-Q · Filing version 2025-06-26
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure32MU · 10-Q · Filing version 2025-03-21
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure33MU · 10-K · Filing version 2026-10-09
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure34MU · 10-Q · Filing version 2025-12-18
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure35MU · 10-Q · Filing version 2026-03-19
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure36MU · 10-Q · Filing version 2026-06-25
The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.
View original disclosure37Micron FY2026 10-K
Uses comparative periods as presented or restated in this source document. The disclosure-version date is not a verified first-publication date.
View original disclosureNo matching source records.