### MU

Micron Technology, Inc.

Current price

**$45.525**5 days change

**+3.13%**###### MU intrinsic value

## $52.39

##### +15.08%

Strong SellStrong Buy

#### Moderate Buy

##### Micron Technology, Inc. Enterprise Value

2018 Q2 | 2018 Q3 | 2018 Q4 | 2019 Q1 | 2019 Q2 | ||
---|---|---|---|---|---|---|

Market cap | 66.79B | 61.19B | 43B | 45.83B | 36.87B | |

Number of shares | 1.16B | 1.16B | 1.13B | 1.11B | 1.11B | |

Cash and cash equivalents | 6.81B | 6.51B | 4.45B | 6.35B | 5.16B | |

Total debt | 7.35B | 4.64B | 4.13B | 6.24B | 4.91B | |

Enterprise value (EV) | 67.07B | 59.03B | 41.57B | 44.54B | 35.1B |

##### Micron Technology, Inc. Key Metrics

2018 Q2 | 2018 Q3 | 2018 Q4 | 2019 Q1 | 2019 Q2 | ||
---|---|---|---|---|---|---|

Revenue (per share) | 6.73 | 7.29 | 6.98 | 5.24 | 4.33 | |

Net income (per share) | 3.3 | 3.73 | 2.91 | 1.45 | 0.76 | |

Operating cash flow (per share) | 3.68 | 4.45 | 4.25 | 3.08 | 2.45 | |

Free cash flow (per share) | 1.75 | 1.48 | 1.81 | 1.6 | 2.51 | |

Cash (per share) | 5.87 | 5.62 | 3.93 | 5.7 | 4.67 | |

Book value (per share) | 24.72 | 27.89 | 29.89 | 31.03 | 31.97 | |

Tangible book value (per share) | 34.76 | 36.11 | 37.96 | 41.21 | 40.47 | |

Shareholders equity (per share) | 24.72 | 27.89 | 29.89 | 31.03 | 31.97 | |

Interest debt (per share) | 6.34 | 4.01 | 3.65 | 5.6 | 4.44 | |

Price to earnings (P/E) | 5.4 | 4.3 | 2.96 | 3.59 | 3.76 | |

Price to sales (P/S) | 2.38 | 2.01 | 1.37 | 1.53 | 1.37 | |

Price to book (P/B) | 2.33 | 1.89 | 1.27 | 1.32 | 1.04 | |

Price to tangible book (P/TB) | 2.46 | 1.99 | 1.33 | 1.38 | 1.09 | |

Price to operating cash flow (P/OCF) | 4.32 | 3.52 | 2.32 | 2.59 | 2.29 | |

Price to Free Cash Flow (P/FCF) | 8.83 | 7.13 | 4.8 | 5.95 | 6.03 | |

Enterprise value to sales | 2.39 | 1.94 | 1.32 | 1.49 | 1.3 | |

Enterprise value to EBITDA | 3.89 | 3.04 | 2.02 | 2.33 | 2.17 | |

Enterprise value to operating cash flow | 4.34 | 3.39 | 2.24 | 2.52 | 2.18 | |

Enterprise value to free cash flow | 8.88 | 6.93 | 4.64 | 5.82 | 5.75 | |

Earnings yield | 0.19 | 0.23 | 0.34 | 0.28 | 0.27 | |

Free cash flow yield | 0.11 | 0.14 | 0.21 | 0.17 | 0.17 | |

Debt to equity | 0.26 | 0.14 | 0.12 | 0.18 | 0.14 | |

Debt to assets | 0.18 | 0.11 | 0.09 | 0.13 | 0.11 | |

Net debt to EBITDA | 0.06 | -0.38 | -0.28 | -0.4 | -0.85 | |

Current ratio | 2.64 | 2.79 | 2.9 | 2.25 | 2.79 | |

Interest coverage | 47.43 | 87.9 | 115.24 | 71.33 | 25.31 | |

Income quality | 1.11 | 1.19 | 1.46 | 2.12 | 3.23 | |

SG&A to revenue | 0.03 | 0.03 | 0.03 | 0.04 | 0.04 | |

R&D to revenue | 0.08 | 0.07 | 0.08 | 0.1 | 0.13 | |

Intangibles to total assets | 0.04 | 0.04 | 0.04 | 0.03 | 0.03 | |

Capex (per share) | -2.08 | -1.94 | -2.38 | -2.38 | -2.17 | |

Capex to operating cash flow | 0.57 | 0.44 | 0.56 | 0.77 | 0.89 | |

Capex to revenue | 0.31 | 0.27 | 0.34 | 0.45 | 0.5 | |

Capex to depreciation | -1.96 | -1.75 | -2.02 | -2.02 | -1.77 | |

Stock-based compensation to revenue | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | |

Graham number | 77.04 | 87.75 | 92.82 | 89.21 | 79.83 | |

Graham net-net | 0.05 | 0.1 | 0.12 | 0.1 | 0.14 | |

Working capital | 9.62B | 10.29B | 9.85B | 9.19B | 9.67B | |

Tangible asset value | 40.28B | 41.82B | 43.01B | 45.91B | 44.72B | |

Net current asset value | 3.18B | 5.93B | 5.28B | 4.59B | 5.07B | |

Invested capital | 34.94B | 34.2B | 37.51B | 38.44B | 39.08B | |

Average Receivables | 4.2B | 4.62B | 4.65B | 4.43B | 4.08B | |

Average payables | 3.83B | 4.02B | 3.98B | 4.13B | 3.75B | |

Average inventory | 3.22B | 3.36B | 3.52B | 3.79B | 4.14B |

##### Micron Technology, Inc. Financial Growth

2018 Q2 | 2018 Q3 | 2018 Q4 | 2019 Q1 | 2019 Q2 | ||
---|---|---|---|---|---|---|

Gross profit growth | 0.81 | 0.66 | 0.23 | -0.33 | -0.61 | |

EBIT growth | 1.01 | 0.78 | 0.3 | -0.46 | -0.81 | |

Operating income growth | 1.01 | 0.75 | 0.21 | -0.45 | -0.74 | |

Net income growth | 1.32 | 0.83 | 0.23 | -0.51 | -0.78 | |

EPS growth | 1.21 | 0.74 | 0.23 | -0.49 | -0.77 | |

EPS diluted growth | 1.21 | 0.75 | 0.28 | -0.47 | -0.76 | |

Weighted average shares growth | 0.05 | 0.04 | 0 | -0.04 | -0.05 | |

Weighted average shares diluted growth | 0.05 | 0.02 | -0.04 | -0.08 | -0.09 | |

Operating cash flow growth | 0.77 | 0.61 | 0.32 | -0.21 | -0.36 | |

Free cash flow growth | 0.35 | 0.5 | 0.26 | -0.62 | -0.83 | |

Receivables growth | 0.4 | 0.46 | 0.4 | 0 | -0.34 | |

Inventory growth | 0.1 | 0.15 | 0.23 | 0.38 | 0.46 | |

Asset growth | 0.26 | 0.23 | 0.2 | 0.15 | 0.11 | |

Book value per share growth | 0.69 | 0.66 | 0.5 | 0.4 | 0.29 | |

Debt growth | -0.37 | -0.58 | -0.54 | -0.33 | -0.33 | |

R&D expense growth | 0.39 | 0.27 | 0.36 | 0.15 | 0.01 | |

SG&A expenses growth | 0.03 | 0.11 | 0.09 | 0.07 | -0.02 |

##### Micron Technology, Inc. Income

2018 Q2 | 2018 Q3 | 2018 Q4 | 2019 Q1 | 2019 Q2 | ||
---|---|---|---|---|---|---|

Revenue | 7.8B | 8.44B | 7.91B | 5.84B | 4.79B | |

Revenue growth | 0.4 | 0.38 | 0.16 | -0.21 | -0.39 | |

Cost of revenue | 3.07B | 3.29B | 3.3B | 2.97B | 2.96B | |

Gross profit | 4.72B | 5.15B | 4.62B | 2.86B | 1.83B | |

R&D expenses | 603M | 567M | 611M | 601M | 606M | |

SG&A expense | 211M | 215M | 209M | 209M | 206M | |

Operating expenses | 770M | 774M | 856M | 907M | 818M | |

Operating income | 3.95B | 4.38B | 3.76B | 1.96B | 1.01B | |

Interest expense | 80M | 50M | 33M | 27M | 29M | |

Earnings before tax | 3.71B | 4.35B | 3.77B | 1.9B | 705M | |

Income tax expense | -109M | 20M | 477M | 280M | -135M | |

Net income | 3.82B | 4.33B | 3.29B | 1.62B | 840M | |

Net income (com) | 3.82B | 4.33B | 3.29B | 1.62B | 840M | |

EPS | 3.3 | 3.74 | 2.91 | 1.45 | 0.76 | |

EPS diluted | 3.1 | 3.55 | 2.81 | 1.42 | 0.74 | |

Weighted average shares outstanding | 1.16B | 1.16B | 1.13B | 1.12B | 1.11B | |

Weighted average shares outstanding diluted | 1.16B | 1.16B | 1.13B | 1.11B | 1.11B | |

Gross margin | 0.61 | 0.61 | 0.58 | 0.49 | 0.38 | |

EBITDA margin | 0.65 | 0.67 | 0.65 | 0.56 | 0.44 | |

EBIT margin | 0.49 | 0.52 | 0.48 | 0.33 | 0.15 | |

Profit margin | 0.49 | 0.51 | 0.42 | 0.28 | 0.18 | |

Free cash flow margin | 0.24 | 0.34 | 0.27 | 0.13 | 0.06 | |

EBITDA | 5.03B | 5.68B | 5.14B | 3.24B | 2.09B | |

EBIT | 3.79B | 4.39B | 3.8B | 1.93B | 734M | |

Consolidated income | 3.82B | 4.33B | 3.3B | 1.63B | 851M | |

Earnings before tax margin | 0.48 | 0.51 | 0.48 | 0.33 | 0.15 | |

Net profit margin | 0.49 | 0.51 | 0.42 | 0.28 | 0.18 |

##### Micron Technology, Inc. Balance Sheet

2018 Q2 | 2018 Q3 | 2018 Q4 | 2019 Q1 | 2019 Q2 | ||
---|---|---|---|---|---|---|

Cash and cash equivalents | 6.81B | 6.51B | 4.45B | 6.35B | 5.16B | |

Short-term investments | 263M | 296M | 1.12B | 1.18B | 1.53B | |

Cash and short-term investments | 7.07B | 6.8B | 5.56B | 7.53B | 6.69B | |

Receivables | 4.91B | 5.48B | 5.42B | 4.42B | 3.26B | |

Inventories | 3.37B | 3.6B | 3.88B | 4.39B | 4.91B | |

Total current assets | 15.5B | 16.04B | 15.04B | 16.55B | 15.07B | |

Property, plant and equipment net | 22.71B | 23.67B | 24.81B | 26.2B | 27.14B | |

Goodwill and intangible assets | 1.56B | 1.56B | 1.58B | 1.58B | 1.57B | |

Long-term investments | 487M | 473M | 1.57B | 1.61B | 1.17B | |

Tax assets | 989M | 1.02B | 842M | 762M | 817M | |

Total non-current assets | 26.35B | 27.34B | 29.56B | 30.94B | 31.22B | |

Total assets | 41.85B | 43.38B | 44.6B | 47.49B | 46.29B | |

Payables | 4B | 4.37B | 4.2B | 4.06B | 3.49B | |

Short-term debt | 1.45B | 859M | 398M | 2.63B | 1.35B | |

Total current liabilities | 5.88B | 5.75B | 5.19B | 7.36B | 5.4B | |

Long-term debt | 5.9B | 3.78B | 3.74B | 3.61B | 3.56B | |

Total debt | 7.35B | 4.64B | 4.13B | 6.24B | 4.91B | |

Deferred revenue | 431M | 0 | 0 | 0 | 0 | |

Total non-current liabilities | 6.44B | 4.36B | 4.57B | 4.6B | 4.6B | |

Total liabilities | 12.32B | 10.11B | 9.76B | 11.96B | 10B | |

Other comprehensive income | 22M | 10M | -5M | 6M | 8M | |

Retained earnings (deficit) | 20.07B | 24.4B | 27.77B | 29.36B | 30.2B | |

Total shareholders equity | 28.65B | 32.29B | 33.87B | 34.57B | 35.32B | |

Investments | 750M | 769M | 2.68B | 2.79B | 2.7B | |

Net debt | 278M | -2.16B | -1.43B | -1.29B | -1.78B | |

Other assets | 147M | 164M | 182M | 211M | 215M | |

Other liabilities | 431M | 521M | 591M | 665M | 557M |

##### Micron Technology, Inc. Cash Flow

2018 Q2 | 2018 Q3 | 2018 Q4 | 2019 Q1 | 2019 Q2 | ||
---|---|---|---|---|---|---|

Depreciation and amortization | 1.23B | 1.29B | 1.34B | 1.31B | 1.36B | |

Stock-based compensation | 48M | 47M | 61M | 57M | 58M | |

Operating cash flow | 4.26B | 5.16B | 4.81B | 3.44B | 2.71B | |

Capital expenditure | -2.41B | -2.25B | -2.7B | -2.65B | -2.4B | |

Investment purchases and sales | -16M | -18M | -1.91B | -105M | 98M | |

Investing cash flow | -2.24B | -2.13B | -4.43B | -2.49B | -2.07B | |

Issuance (repayment) of debt | -3.07B | -3.39B | -577M | 1.67B | -1.67B | |

Issuance (buybacks) of shares | 80M | 17M | -1.82B | -655M | -139M | |

Financing cash flow | -3.02B | -3.33B | -2.43B | 952M | -1.85B | |

Effect of forex changes on cash | -8M | -33M | -10M | 9M | 7M | |

Net cash flow / change in cash | -1.01B | -340M | -2.06B | 1.9B | -1.19B | |

Free Cash Flow | 1.85B | 2.9B | 2.11B | 786M | 308M | |

Net cash / Market cap | 0 | 0.04 | 0.03 | 0.03 | 0.05 |