Micron Technology, Inc. (MU)财务
NASDAQ · Technology · Semiconductors · 员工61,000人 · CEO Sanjay Mehrotra
- 股价
- $884.74 -5.30%
- 市值
- $1万亿
- 企业价值
- $9680亿
- 最近财报
- Q4 '26 2026-10-09提交
- 下次财报
- 2026-12-23 EPS预期 $38.20
营收(TTM)$1330亿+256.3% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)74.6%+48.2 百分点 对比去年同期营业利润 $993亿
净利润(TTM)$850亿+895.1% 对比去年同期税后,含营业外收益
自由现金流(TTM)$590亿+3,435.0% 对比去年同期资本支出 $307亿
稀释EPS(TTM)$74.22+877.9% 对比去年同期最近4个季度之和
净现金$383亿+869.6% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $1万亿 EV $9680亿
- 营收
- $1330亿 过去12个月
- 营收增速
- +109% FY2027年一致预期
- 净利润率
- 63.8% 净利润 / 营收,TTM
- P/E
- 11.7× 预期 5.0×(FY2027)
- P/S
- 7.5× 股价 / 营收,TTM
- EV / EBITDA
- 8.9× TTM
- 自由现金流
- $590亿 过去12个月
- 净利润
- $850亿 过去12个月
- 营收预期
- $2780亿 FY2027年一致预期
- 盈利
- 2026-12-23 营收预期 $615亿
- 股息
- $0.57 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-09-30):营收超预期5.6%,EPS 超预期5.2%营收$542亿,预期$513亿(+5.6%);EPS $33.42,预期$31.77(+5.2%)。
- 营收增长加速:同比379.3%Q4 '26营收$542亿,此前四个季度的平均值为161.2%。
- 营业利润率74.6%(TTM),较去年同期+48.2 百分点营收增长256.3%,营业利润增长906.5%。
- 资本支出占营收的23.1%(去年为42.4%)最近4个季度投入$307亿(同比+93.7%)。自由现金流$590亿,相当于净利润的69.4%。
- 股东回报$16.3亿 = 自由现金流的2.8%回购$10.2亿(去年为$0),股息$6.1亿,股权激励$13.3亿(TTM)。
- 稀释股数一年内增加2.0%Q4 '26稀释股数11.5亿,一年前为11.3亿。
- 净现金 $383亿现金 + 短期投资 $434亿,含租赁债务 $51.8亿;一年前净债务 $49.7亿。
上一季度:Q4 '26
截至2026-09-03的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q4 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $542亿 | $113亿 | +379.3% |
| 毛利率 | 86.8% | 44.7% | +42.1 百分点 |
| 营业利润 | $438亿 | $37.5亿 | +1,065.5% |
| 营业利润率 | 80.7% | 33.2% | +47.5 百分点 |
| 净利润 | $377亿 | $32亿 | +1,077.8% |
| 稀释EPS | $32.87 | $2.83 | +1,061.5% |
| 经营现金流 | $440亿 | $57.3亿 | +667.4% |
| 资本支出 | $111亿 | $56.6亿 | +96.4% |
| 自由现金流 | $329亿 | $7200万 | +45,543.1% |
| R&D | $19.1亿 | $10.3亿 | +85.9% |
| 股权激励费用 | $3.79亿 | $2.62亿 | +44.7% |
实际 vs 一致预期
2026-09-30| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $542亿 | $513亿 | +5.6% |
| EPS(一致预期口径) | $33.42 | $31.77 | +5.2% |
来自2026-09-30发布的Q4 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q4 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| CDBU | $180亿 | +1,041.5% | 33.2% | $376亿 | +420.0% | |
| CMBU | $163亿 | +258.4% | 30.0% | $431亿 | +218.6% | |
| MCBU | $131亿 | +248.8% | 24.2% | $366亿 | +208.6% | |
| AEBU | $68.2亿 | +375.9% | 12.6% | $159亿 | +234.2% | |
| All Other | $600万 | +500.0% | 0.0% | $2400万 | +84.6% |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q4 '26分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| CNBU | – | – | – | – | – | – | – |
| MBU | – | – | – | – | – | – | – |
| SBU | – | – | – | – | – | – | – |
| EBU | – | – | – | – | – | – | – |
| All other segments | – | – | -$300万 | -50.0% | – | – | $200万 |
| Material Reconciling Items | – | – | – | – | – | – | – |
| CMBU | – | – | $124亿 | +472.4% | – | – | $312亿 |
| CDBU | – | – | $153亿 | +3,818.4% | – | – | $295亿 |
| MCBU | – | – | $115亿 | +940.0% | – | – | $292亿 |
| AEBU | – | – | $54.2亿 | +1,754.5% | – | – | $112亿 |
| Corporate (unallocated) | – | – | -$8.85亿 | -194.0% | – | – | -$18.5亿 |
各分部营业利润
季度各分部营业利润率
季度第四季度为推算值:10-K披露全年数据,减去10-Q的前三个季度。
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $897亿
- 资本支出
- -$307亿
- 股票回购
- -$10.2亿
- 股息
- -$6.1亿
- 收购
- $0
- 债务净发行
- -$100亿
- 股权激励费用
- $13.3亿
- 自由现金流
- $590亿
- 股东回报 / FCF
- 2.8%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 11.7× | 43.1× 5年中的4年 | 7.3× – 136.5× |
| EV / EBITDA | 8.9× | 13.8× | 3.7× – 35.6× |
| EV / 营收 | 7.3× | 4.7× | 2.0× – 7.9× |
| 股价 / FCF | 17.0× | 248.3× 5年中的4年 | 18.3× – 872.8× |
| 股价 / 净资产 | 7.2× | 3.1× | 1.3× – 7.8× |
| FCF收益率 | 5.9% | 0.7% | -8.0% – 5.5% |
| 投入资本回报率 | 50.1% | 13.8% | -9.6% – 50.1% |
| 净资产收益率 | 91.8% | 16.6% | -13.2% – 61.4% |
分析师
一致目标价 $1,588.85 (+79.6%)
区间 $1,200.00 – $3,000.00 · 评级 Buy
强烈买入0
买入58
持有10
卖出2
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2027 | $2780亿 | +108.6% | $175.55 | +136.2% | 5.0× | 30 |
| FY2028 | $3250亿 | +17.0% | $210.88 | +20.1% | 4.2× | 30 |
| FY2029 | $3330亿 | +2.5% | $217.90 | +3.3% | 4.1× | 9 |
| FY2030 | $4980亿 | +49.4% | $267.29 | +22.7% | 3.3× | 6 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Micron Technology, Inc.在近期10-Q / 10-K文件中标记的全部267项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| – | – | – | $2.75亿 | – | – | |
| – | – | – | $1.53亿 | – | – | |
| Accounts Payable and Accrued Liabilities, Current | $226亿 | $96.5亿 | +134.3% | $226亿 | $96.5亿 | +134.3% |
| Accounts Payable, Other, Current | $3.96亿 | $3.82亿 | +3.7% | $3.96亿 | $3.82亿 | +3.7% |
| Accounts Payable, Trade, Current | $35.2亿 | $31.3亿 | +12.3% | $35.2亿 | $31.3亿 | +12.3% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $318亿 | $71.6亿 | +343.9% | $318亿 | $71.6亿 | +343.9% |
| Accrued Income Taxes, Noncurrent | $98.2亿 | $6.48亿 | +1,415.4% | $98.2亿 | $6.48亿 | +1,415.4% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$7300万 | -$3200万 | -128.1% | -$7300万 | -$3200万 | -128.1% |
| Additional Paid in Capital, Common Stock | $150亿 | $133亿 | +12.3% | $150亿 | $133亿 | +12.3% |
| Amortization of Intangible Assets | $1800万2025-08-28 | $2100万 | -14.3% | $7100万2025-08-28 | $8200万 | -13.4% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | -400万2025-08-28 | -2800万 | +85.7% | 0 | 600万 | -100.0% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $3.55亿2026-05-28 | $2.53亿 | +40.3% | $13.3亿 | $9.72亿 | +37.1% |
| Assets | $1960亿 | $828亿 | +136.6% | $1960亿 | $828亿 | +136.6% |
| Assets, Current | $911亿 | $288亿 | +215.8% | $911亿 | $288亿 | +215.8% |
| Capital Expenditures Incurred but Not yet Paid | – | – | – | $3.21亿2025-08-28 | $1.18亿 | +172.0% |
| Cash and Cash Equivalents, at Carrying Value | $384亿 | $96.4亿 | +297.9% | $384亿 | $96.4亿 | +297.9% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $384亿 | $96.5亿 | +298.0% | $384亿 | $96.5亿 | +298.0% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $111亿2026-05-28 | $26.1亿 | +325.5% | $287亿 | $25.9亿 | +1,008.1% |
| Common Stock, Dividends, Per Share, Cash Paid | $0.152026-05-28 | $0.12 | +30.4% | – | – | – |
| Common Stock, Dividends, Per Share, Declared | $0.152026-05-28 | $0.12 | +30.4% | $0.53 | $0.46 | +15.2% |
| Common Stock, Par or Stated Value Per Share | $0.10 | $0.10 | 0.0% | $0.10 | $0.10 | 0.0% |
| Common Stock, Shares Authorized | 30亿 | 30亿 | 0.0% | 30亿 | 30亿 | 0.0% |
| Common Stock, Shares, Issued | 12.8亿 | 12.7亿 | +0.9% | 12.8亿 | 12.7亿 | +0.9% |
| Common Stock, Shares, Outstanding | 11.3亿 | 11.2亿 | +0.8% | 11.3亿 | 11.2亿 | +0.8% |
| Common Stock, Value, Issued | $1.28亿 | $1.27亿 | +0.8% | $1.28亿 | $1.27亿 | +0.8% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $283亿2026-05-28 | $20.3亿 | +1,293.4% | $849亿 | $86.4亿 | +882.8% |
| Contract with Customer, Liability | $130亿 | $1.69亿 | +7,592.3% | $130亿 | $1.69亿 | +7,592.3% |
| Contract with Customer, Liability, Current | $2600万2025-08-28 | $7.66亿 | -96.6% | $2600万2025-08-28 | $7.66亿 | -96.6% |
| Contract with Customer, Liability, Noncurrent | $129亿 | $1.42亿 | +8,981.0% | $129亿 | $1.42亿 | +8,981.0% |
| Contract with Customer, Liability, Revenue Recognized | $100万2025-08-28 | – | – | $7.78亿2025-08-28 | – | – |
| Contract with Customer, Refund Liability, Current | $43.2亿 | $11.9亿 | +263.0% | $43.2亿 | $11.9亿 | +263.0% |
| Cost of Goods and Services Sold | $64亿2026-05-28 | $57.9亿 | +10.5% | $257亿 | $225亿 | +14.1% |
| Current Federal Tax Expense (Benefit) | – | – | – | $7.82亿 | $2.75亿 | +184.4% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $142亿 | $6.7亿 | +2,016.4% |
| Current Income Tax Expense (Benefit) | – | – | – | $152亿 | $9.6亿 | +1,486.9% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $2.72亿 | $1500万 | +1,713.3% |
| Debt and Lease Obligation | $51.8亿 | $146亿 | -64.5% | $51.8亿 | $146亿 | -64.5% |
| Debt Instrument, Increase (Decrease), Net | -$42.9亿2026-05-28 | $8.83亿 | -585.7% | -$87.4亿 | $2.26亿 | -3,968.6% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $1600万 | $4800万 | -66.7% | $1600万 | $4800万 | -66.7% |
| Debt Securities, Available-for-sale, Current | $50.7亿 | $6.65亿 | +662.4% | $50.7亿 | $6.65亿 | +662.4% |
| Debt Securities, Available-for-sale, Noncurrent | $300亿 | $16.3亿 | +1,742.8% | $300亿 | $16.3亿 | +1,742.8% |
| Debt, Current | $4.91亿 | $5.6亿 | -12.3% | $4.91亿 | $5.6亿 | -12.3% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$5.22亿 | $1.18亿 | -542.4% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $9500万 | $4600万 | +106.5% |
| Deferred Income Tax Assets, Net | $7亿2026-05-28 | $4.83亿 | +44.9% | $6.16亿2025-08-28 | $5.2亿 | +18.5% |
| Deferred Income Tax Expense (Benefit) | – | – | – | -$4.73亿 | $1.64亿 | -388.4% |
| Deferred Income Tax Liabilities, Net | $5200万2025-08-28 | $5900万 | -11.9% | $5200万2025-08-28 | $5900万 | -11.9% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | -$4600万 | $0 | – |
| Deferred Tax Assets, Gross | $17.9亿 | $14.7亿 | +21.5% | $17.9亿 | $14.7亿 | +21.5% |
| Deferred Tax Assets, Inventory | $1.19亿 | $2500万 | +376.0% | $1.19亿 | $2500万 | +376.0% |
| Deferred Tax Assets, Net | $9.29亿 | $5.64亿 | +64.7% | $9.29亿 | $5.64亿 | +64.7% |
| Deferred Tax Assets, Net of Valuation Allowance | $12.1亿 | $8.39亿 | +44.1% | $12.1亿 | $8.39亿 | +44.1% |
| Deferred Tax Assets, Other | $2.02亿 | $3700万 | +445.9% | $2.02亿 | $3700万 | +445.9% |
| Deferred Tax Assets, Property, Plant and Equipment | $6300万 | $0 | – | $6300万 | $0 | – |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits | $5.29亿 | $2.03亿 | +160.6% | $5.29亿 | $2.03亿 | +160.6% |
| Deferred Tax Assets, Valuation Allowance | $5.81亿 | $6.34亿 | -8.4% | $5.81亿 | $6.34亿 | -8.4% |
| Deferred Tax Liabilities, Gross | $2.8亿 | $2.75亿 | +1.8% | $2.8亿 | $2.75亿 | +1.8% |
| Deferred Tax Liabilities, Leasing Arrangements | $1.08亿 | $1.63亿 | -33.7% | $1.08亿 | $1.63亿 | -33.7% |
| Deferred Tax Liabilities, Other | $1.72亿 | $1.12亿 | +53.6% | $1.72亿 | $1.12亿 | +53.6% |
| Deferred Tax Liabilities, Property, Plant and Equipment | $600万2025-08-28 | $1.94亿 | -96.9% | $600万2025-08-28 | $1.94亿 | -96.9% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-K 2026-09-03, 10-Q 2026-05-28, 10-Q 2026-02-26, 10-Q 2025-11-27, 10-K 2025-08-28, 10-Q 2025-05-29, 10-Q 2025-02-27, 10-Q 2024-11-28, 10-K 2024-08-29
数据截至 2026-11-01