MU · Intrinsic value
Is Micron Technology, Inc. (MU) overvalued or undervalued?
As of Oct 19, 2026, TickerWorth publishes a fair-value range of $2,190.79 – $2,190.79 for Micron Technology, Inc. (MU), against the delayed market price of $916.51: priced below our range. It is a range, not a single number, so we do not call it over- or undervalued. It is a model estimate, and every input behind it is sourced below.
Model by Miraaj Patel · generated from a hand-researched model · Updated Oct 19, 2026 · How these pages are made
What is MU worth?
- Fair-value range
- $2,190.79 – $2,190.79
- A range by design: peer multiples — our researched DCF held out as mid-cycle.
- Market price
- $916.51
- Gap to fair value
- —
- Verdict
- Priced below our range
Reverse DCF, on our cash-flow model rather than the range above: Today's price implies revenue growth of more than 25%/yr. Above about 25% a year the reverse-DCF stops being informative. It solves for revenue growth alone — holding margins, capital intensity and the forecast horizon fixed — so a price well above our cash-flow model's value has nowhere to go but growth, and the solver returns a rate the model can't reconcile. Read it as "the price implies growth we can't justify", not as a forecast.
What is MU's TickerWorth Score?
Scores higher than most companies we compare it with
Compared with Technology companies in US
Its strongest point: a profitable, high-quality business.
our cash-flow model doesn't fit this business, so we won't award our top grade off the remaining lenses
- Value · 61 of 100
Cheaper than 61% of Technology companies in US
- Price vs worth · 100 of 100
- Quality · 95 of 100
More profitable than 95% of Technology companies in US
- Financial health · 57 of 100
Financially stronger than 57% of Technology companies in US
- Growth · 98 of 100
Growing faster than 98% of Technology companies in US
- Momentum · 74 of 100
Outperformed 74% of Technology companies in US over the past year
Confidence: Medium confidence · Scored
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Why MU gets a range, not one number
At a recent price of $916.51, Micron Technology, Inc. (MU) sits below every lens we ran: our valuation lenses put the business somewhere between $2,191 and $2,191 per share. For a cyclical we value through the cycle we publish a range only (peer multiples — our researched DCF held out as mid-cycle): where in the cycle the business sits decides where in that range it lands, and a single figure would claim we know that precisely. This is an educational model, not a price target or a recommendation.
Read the full reasoning
The valuation discounts Micron Technology, Inc.'s projected free cash flows at a weighted-average cost of capital (WACC) of 12.4%, with a long-run terminal growth rate of 2.5%. About 46% of the enterprise value comes from the terminal value — the portion beyond the explicit forecast window — which is typical for a stable, cash-generative business and a reminder that small changes in the discount rate or terminal growth assumption swing the intrinsic value meaningfully.
Running the DCF in reverse — solving for the growth the current price already assumes — MU would need sustained revenue growth of more than 25%/yr to justify today's price, against about 23.1% a year compounded in our base case. We don't quote a precise figure here, because past about 25% a year the reverse-DCF stops being informative: it solves for revenue growth alone, holding margins, capital intensity and the forecast horizon fixed, so a price well above our fair value has nowhere to go but growth. The honest reading is that the price implies growth this model can't reconcile — not that we forecast it.
Sensitivity matters more than any single number. Across a reasonable band of discount-rate assumptions, MU's modeled DCF value ranges from about $106.28 to $150.86 per share. If that range still sits below today's price, the market is optimistic relative to the model across the whole band; if it brackets the price, the stock is roughly fairly valued on our assumptions. Use the interactive slider to see exactly where your own cost-of-capital view lands.
How to read this page: the DCF fair value is what Micron Technology, Inc. would be worth if its cash flows grow as modeled and are discounted at the stated WACC. The assumptions table shows every input and its source; the reverse-DCF shows what the market believes; the sensitivity band shows how fragile the answer is. None of this is investment advice — it is a transparent, auditable framework for forming your own view of MU's intrinsic value. Figures update as new filings and prices come in.
Every input behind MU's DCF
| Input | Value |
|---|---|
| Base-year revenueMicron FY2025 10-K (SEC EDGAR companyfacts): Rev $37,378M, op income $9,770M (26.1%), D&A $8,352M (22%), capex $15,857M (42%!). FY2026 is exploding — see special cases. | $37,378,000,000 |
| Base EBIT marginMicron FY2025 10-K (SEC EDGAR companyfacts): op income 9,770 / revenue 37,378 = 26.1% | 26.1% |
| Forecast revenue growthESTIMATEAssumption — TickerWorth's 5-year explicit forecast | 245% → 5% → -30% → 5% → 6% |
| Risk-free rateUS 10Y govt bond: US 10Y CMT | 4.6% |
| BetaESTIMATEAssumption — normalized estimate: Published beta ~2.15; normalized to 1.60 through-cycle. GENEROUS. | 1.60 |
| Terminal growthESTIMATEAssumption — house default: long-run nominal growth in USD; must be < WACC | 2.5% |
| Diluted sharesshares outstanding / diluted | 1,130M |
| Market priceLast known price · as of 2026-10-19 19:53 UTC | $916.51 |
Change MU's assumptions
The discount-rate dial and the editable model
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What does Micron Technology, Inc. do?
What does it do?
Micron Technology manufactures semiconductor memory and storage products, including DRAM, NAND flash storage, and NOR memory. The company serves data center, mobile, automotive, and embedded computing markets across the United States, Asia, Europe, and other regions.
How does it make money?
Micron generates revenue by selling memory and storage semiconductors to original equipment manufacturers and cloud providers. The company reported $37.4 billion in total revenue with a gross margin of 80.7%, meaning it retains approximately 81 cents per dollar of sales after direct production costs.
Is it financially healthy?
Micron shows mixed financial health. It has a strong current ratio of 3.31, indicating it can cover short-term obligations, but carries significant debt with a debt-to-equity ratio of 3.74. The company is profitable with a net margin of 63.8%.
Who at MU filed insider trades?
| Date | Insider | Relationship | What happened | Value | Filing |
|---|---|---|---|---|---|
| RAY MICHAEL CHARLES | SVP, Chief Legal Officer | Open-market sale | $37,891.60 | Form 4 for RAY MICHAEL CHARLES (opens sec.gov in a new tab) | |
| RAY MICHAEL CHARLES | SVP, Chief Legal Officer | Open-market sale | $446,095.44 | Form 4 for RAY MICHAEL CHARLES (opens sec.gov in a new tab) | |
| RAY MICHAEL CHARLES | SVP, Chief Legal Officer | Open-market sale | $109,860.00 | Form 4 for RAY MICHAEL CHARLES (opens sec.gov in a new tab) | |
| RAY MICHAEL CHARLES | SVP, Chief Legal Officer | Open-market sale | $73,310.40 | Form 4 for RAY MICHAEL CHARLES (opens sec.gov in a new tab) | |
| RAY MICHAEL CHARLES | SVP, Chief Legal Officer | Open-market sale | $183,584.00 | Form 4 for RAY MICHAEL CHARLES (opens sec.gov in a new tab) | |
| RAY MICHAEL CHARLES | SVP, Chief Legal Officer | Open-market sale | $183,872.00 | Form 4 for RAY MICHAEL CHARLES (opens sec.gov in a new tab) |
A disclosure, not a signal to trade. Source: SEC EDGAR (Form 4). Older filings and the 90-day buying-and-selling read are part of Pro. See plans
Common questions
What is MU's intrinsic value?
TickerWorth's valuation lenses put Micron Technology, Inc. (MU) between $2,191 and $2,191 per share, versus a market price of $916.51. For a cyclical we value through the cycle we publish a range only (peer multiples — our researched DCF held out as mid-cycle): where in the cycle the business sits decides where in that range it lands, and a single figure would claim we know that precisely.
Is MU overvalued or undervalued?
At $916.51 the price sits below every lens we ran. We don't call MU overvalued or undervalued from a range. This is an educational estimate, not advice.
What discount rate is used for MU?
A WACC of 12.4% and a terminal growth rate of 2.5%.
Is Micron Technology stock undervalued?
TickerWorth's fair-value range for Micron Technology, Inc. (MU) is $2,190.79 – $2,190.79 against a market price of $916.51. Priced below our range. We publish a range here, not one number, so we do not call it over- or undervalued. This is a model estimate, not investment advice.
Micron Technology (MU) DCF valuation and fair value
Our fair-value range for Micron Technology, Inc. (MU) is $2,190.79 – $2,190.79, built on a 12.4% discount rate (WACC) and 2.5% terminal growth. It blends our discounted-cash-flow model with other valuation lenses. Every assumption is listed on this page with its source.
What growth is priced into Micron Technology stock?
Today's price implies revenue growth of more than 25%/yr. Above about 25% a year the reverse-DCF stops being informative. It solves for revenue growth alone — holding margins, capital intensity and the forecast horizon fixed — so a price well above our cash-flow model's value has nowhere to go but growth, and the solver returns a rate the model can't reconcile. Read it as "the price implies growth we can't justify", not as a forecast. This is a reverse DCF: it holds our cash-flow model's other inputs and solves for the revenue growth that makes the model equal today's price of $916.51. A model estimate, not investment advice.
Micron Technology (MU) insider trading
The most recent insider filing (SEC Form 4) for Micron Technology, Inc. (MU): RAY MICHAEL CHARLES, SVP, Chief Legal Officer, open-market sale on 2026-10-14. The latest filings are listed on this page. A disclosure, not a signal to trade.
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Not investment advice. TickerWorth Score is a model output.
TickerWorth is not a licensed investment adviser, and these figures are estimates from public filings and market data that can be wrong.