Debt to Equity
since 2005
Calculation
Micron Technology Inc., debt to equity, long-term trends, calculation
| Debt to equity | = | Total debt1 | ÷ | Shareholders’ equity1 | |
|---|---|---|---|---|---|
| Sep 3, 2026 | 0.04 | = | 5,179) | ÷ | 138,378) |
| Aug 28, 2025 | 0.27 | = | 14,577) | ÷ | 54,165) |
| Aug 29, 2024 | 0.30 | = | 13,397) | ÷ | 45,131) |
| Aug 31, 2023 | 0.30 | = | 13,330) | ÷ | 44,120) |
| Sep 1, 2022 | 0.14 | = | 6,906) | ÷ | 49,907) |
| Sep 2, 2021 | 0.15 | = | 6,776) | ÷ | 43,933) |
| Sep 3, 2020 | 0.17 | = | 6,643) | ÷ | 38,996) |
| Aug 29, 2019 | 0.16 | = | 5,851) | ÷ | 35,881) |
| Aug 30, 2018 | 0.14 | = | 4,636) | ÷ | 32,294) |
| Aug 31, 2017 | 0.60 | = | 11,134) | ÷ | 18,621) |
| Sep 1, 2016 | 0.82 | = | 9,910) | ÷ | 12,080) |
| Sep 3, 2015 | 0.60 | = | 7,341) | ÷ | 12,302) |
| Aug 28, 2014 | 0.61 | = | 6,593) | ÷ | 10,771) |
| Aug 29, 2013 | 0.66 | = | 6,037) | ÷ | 9,142) |
| Aug 30, 2012 | 0.42 | = | 3,262) | ÷ | 7,700) |
| Sep 1, 2011 | 0.24 | = | 2,001) | ÷ | 8,470) |
| Sep 2, 2010 | 0.29 | = | 2,360) | ÷ | 8,020) |
| Sep 3, 2009 | 0.67 | = | 3,098) | ÷ | 4,654) |
| Aug 28, 2008 | 0.44 | = | 2,726) | ÷ | 6,178) |
| Aug 30, 2007 | 0.31 | = | 2,410) | ÷ | 7,752) |
| Aug 31, 2006 | 0.07 | = | 571) | ÷ | 8,114) |
| Sep 1, 2005 | 0.20 | = | 1,167) | ÷ | 5,847) |
Based on: 10-K (reporting date: 2026-09-03), 10-K (reporting date: 2025-08-28), 10-K (reporting date: 2024-08-29), 10-K (reporting date: 2023-08-31), 10-K (reporting date: 2022-09-01), 10-K (reporting date: 2021-09-02), 10-K (reporting date: 2020-09-03), 10-K (reporting date: 2019-08-29), 10-K (reporting date: 2018-08-30), 10-K (reporting date: 2017-08-31), 10-K (reporting date: 2016-09-01), 10-K (reporting date: 2015-09-03), 10-K (reporting date: 2014-08-28), 10-K (reporting date: 2013-08-29), 10-K (reporting date: 2012-08-30), 10-K (reporting date: 2011-09-01), 10-K (reporting date: 2010-09-02), 10-K (reporting date: 2009-09-03), 10-K (reporting date: 2008-08-28), 10-K (reporting date: 2007-08-30), 10-K (reporting date: 2006-08-31), 10-K (reporting date: 2005-09-01).
1 US$ in millions
The financial trajectory from 2005 to 2026 is characterized by alternating periods of leverage expansion and aggressive equity growth, resulting in a substantial long-term reduction in the overall debt-to-equity ratio.
- Total Debt Dynamics
- Total debt exhibited significant volatility over the analyzed period. After starting at $1.17 billion in 2005, debt levels climbed steadily to a peak of $11.13 billion in 2017. A subsequent reduction occurred in 2018, followed by a secondary increase that peaked at $14.58 billion in 2025. The period concludes with a sharp decrease to $5.18 billion in 2026.
- Shareholders' Equity Expansion
- Equity demonstrated a strong and accelerating upward trend. Growth was relatively moderate between 2005 and 2015, with equity moving from $5.85 billion to $12.30 billion. A period of rapid expansion began after 2016, with equity surpassing $30 billion in 2018 and reaching $49.91 billion by 2022. The most dramatic increase is observed in 2026, where equity rose to $138.38 billion.
- Debt to Equity Ratio Interpretation
- The debt-to-equity ratio reflects shifting capital structure strategies. Higher leverage was observed between 2008 and 2016, with the ratio peaking at 0.82 in 2016. Following this peak, the ratio declined sharply and remained consistently low between 0.14 and 0.30 from 2018 through 2025. This trend culminates in 2026 with a ratio of 0.04, the lowest point in the recorded history, indicating a capital structure almost entirely supported by equity.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Comparison to Competitors
Micron Technology Inc., debt to equity, long-term trends, comparison to competitors
| Micron Technology Inc. | Advanced Micro Devices Inc. | Analog Devices Inc. | Applied Materials Inc. | Broadcom Inc. | Intel Corp. | KLA Corp. | Lam Research Corp. | Marvell Technology Inc. | NVIDIA Corp. | Qualcomm Inc. | Texas Instruments Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sep 3, 2026 | 0.04 | — | — | — | — | — | 0.93 | 0.30 | 0.31 | 0.05 | 0.50 | — |
| Aug 28, 2025 | 0.27 | 0.05 | 0.25 | 0.32 | 0.80 | 0.41 | 1.25 | 0.45 | 0.30 | 0.11 | 0.70 | 0.86 |
| Aug 29, 2024 | 0.30 | 0.03 | 0.22 | 0.33 | 1.00 | 0.50 | 1.97 | 0.58 | 0.28 | 0.23 | 0.56 | 0.80 |
| Aug 31, 2023 | 0.30 | 0.04 | 0.20 | 0.34 | 1.64 | 0.47 | 2.02 | 0.61 | 0.29 | 0.50 | 0.71 | 0.66 |
| Sep 1, 2022 | 0.14 | 0.05 | 0.18 | 0.45 | 1.74 | 0.41 | 4.75 | 0.80 | 0.29 | 0.41 | 0.86 | 0.60 |
| Sep 2, 2021 | 0.15 | 0.04 | 0.18 | 0.45 | 1.59 | 0.40 | 1.02 | 0.83 | 0.14 | 0.41 | 1.58 | 0.58 |
| Sep 3, 2020 | 0.17 | 0.06 | 0.43 | 0.52 | 1.72 | 0.45 | 1.30 | 1.12 | 0.17 | 0.16 | 2.59 | 0.74 |
| Aug 29, 2019 | 0.16 | 0.17 | 0.47 | 0.65 | 1.32 | 0.37 | 1.29 | 0.96 | 0.24 | 0.21 | 3.25 | 0.65 |
| Aug 30, 2018 | 0.14 | 0.99 | 0.58 | 0.78 | 0.66 | 0.35 | 1.38 | 0.37 | 0.00 | 0.27 | 17.64 | 0.56 |
| Aug 31, 2017 | 0.60 | 2.28 | 0.77 | 0.57 | 0.87 | 0.39 | 2.21 | 0.40 | 0.00 | 0.48 | 0.71 | 0.39 |
| Sep 1, 2016 | 0.82 | 3.45 | 0.34 | 0.46 | 0.72 | 0.38 | 4.44 | 0.74 | 0.00 | 0.32 | 0.37 | 0.34 |
| Sep 3, 2015 | 0.60 | — | 0.17 | 0.60 | 0.84 | 0.37 | 7.57 | 0.46 | 0.00 | 0.32 | 0.35 | 0.41 |
| Aug 28, 2014 | 0.61 | 11.83 | 0.18 | 0.25 | 1.70 | 0.25 | 0.20 | 0.27 | 0.00 | 0.31 | 0.00 | 0.45 |
| Aug 29, 2013 | 0.66 | 3.78 | 0.18 | 0.27 | 0.00 | 0.23 | 0.21 | 0.29 | 0.00 | 0.00 | 0.00 | 0.48 |
| Aug 30, 2012 | 0.42 | 3.80 | 0.20 | 0.27 | 0.00 | 0.26 | 0.23 | 0.25 | 0.00 | 0.01 | 0.00 | 0.52 |
| Sep 1, 2011 | 0.24 | 1.27 | 0.23 | 0.22 | 0.00 | 0.16 | 0.26 | 0.30 | 0.00 | 0.01 | 0.04 | 0.51 |
| Sep 2, 2010 | 0.29 | 2.39 | 0.13 | 0.03 | 0.15 | 0.04 | 0.33 | 0.01 | 0.00 | 0.01 | 0.05 | 0.00 |
| Sep 3, 2009 | 0.67 | 7.30 | 0.00 | 0.03 | 0.57 | 0.05 | 0.34 | 0.03 | 0.00 | 0.01 | 0.00 | 0.00 |
| Aug 28, 2008 | 0.44 | — | 0.00 | 0.03 | — | 0.05 | 0.25 | 0.17 | 0.12 | 0.00 | 0.00 | 0.00 |
| Aug 30, 2007 | 0.31 | 1.76 | 0.00 | 0.03 | — | 0.05 | 0.00 | 0.21 | 0.13 | 0.00 | 0.00 | 0.00 |
| Aug 31, 2006 | 0.07 | 0.66 | 0.00 | 0.06 | — | 0.06 | 0.00 | 0.25 | 0.01 | 0.00 | 0.00 | 0.00 |
| Sep 1, 2005 | 0.20 | 0.41 | 0.00 | 0.05 | — | 0.07 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.06 |
Based on: 10-K (reporting date: 2026-09-03), 10-K (reporting date: 2025-08-28), 10-K (reporting date: 2024-08-29), 10-K (reporting date: 2023-08-31), 10-K (reporting date: 2022-09-01), 10-K (reporting date: 2021-09-02), 10-K (reporting date: 2020-09-03), 10-K (reporting date: 2019-08-29), 10-K (reporting date: 2018-08-30), 10-K (reporting date: 2017-08-31), 10-K (reporting date: 2016-09-01), 10-K (reporting date: 2015-09-03), 10-K (reporting date: 2014-08-28), 10-K (reporting date: 2013-08-29), 10-K (reporting date: 2012-08-30), 10-K (reporting date: 2011-09-01), 10-K (reporting date: 2010-09-02), 10-K (reporting date: 2009-09-03), 10-K (reporting date: 2008-08-28), 10-K (reporting date: 2007-08-30), 10-K (reporting date: 2006-08-31), 10-K (reporting date: 2005-09-01).
Comparison to Sector (Semiconductors & Semiconductor Equipment)
Micron Technology Inc., debt to equity, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| Micron Technology Inc. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Sep 3, 2026 | 0.04 | — |
| Aug 28, 2025 | 0.27 | 0.38 |
| Aug 29, 2024 | 0.30 | 0.46 |
| Aug 31, 2023 | 0.30 | 0.46 |
| Sep 1, 2022 | 0.14 | 0.43 |
| Sep 2, 2021 | 0.15 | 0.49 |
| Sep 3, 2020 | 0.17 | 0.60 |
| Aug 29, 2019 | 0.16 | 0.56 |
| Aug 30, 2018 | 0.14 | 0.49 |
| Aug 31, 2017 | 0.60 | 0.56 |
| Sep 1, 2016 | 0.82 | 0.47 |
| Sep 3, 2015 | 0.60 | 0.43 |
| Aug 28, 2014 | 0.61 | 0.26 |
| Aug 29, 2013 | 0.66 | 0.22 |
| Aug 30, 2012 | 0.42 | 0.22 |
| Sep 1, 2011 | 0.24 | 0.18 |
| Sep 2, 2010 | 0.29 | 0.09 |
| Sep 3, 2009 | 0.67 | 0.12 |
| Aug 28, 2008 | 0.44 | 0.12 |
| Aug 30, 2007 | 0.31 | 0.11 |
| Aug 31, 2006 | 0.07 | 0.08 |
| Sep 1, 2005 | 0.20 | 0.07 |
Based on: 10-K (reporting date: 2026-09-03), 10-K (reporting date: 2025-08-28), 10-K (reporting date: 2024-08-29), 10-K (reporting date: 2023-08-31), 10-K (reporting date: 2022-09-01), 10-K (reporting date: 2021-09-02), 10-K (reporting date: 2020-09-03), 10-K (reporting date: 2019-08-29), 10-K (reporting date: 2018-08-30), 10-K (reporting date: 2017-08-31), 10-K (reporting date: 2016-09-01), 10-K (reporting date: 2015-09-03), 10-K (reporting date: 2014-08-28), 10-K (reporting date: 2013-08-29), 10-K (reporting date: 2012-08-30), 10-K (reporting date: 2011-09-01), 10-K (reporting date: 2010-09-02), 10-K (reporting date: 2009-09-03), 10-K (reporting date: 2008-08-28), 10-K (reporting date: 2007-08-30), 10-K (reporting date: 2006-08-31), 10-K (reporting date: 2005-09-01).
Comparison to Industry (Information Technology)
Micron Technology Inc., debt to equity, long-term trends, comparison to industry (information technology)
| Micron Technology Inc. | Information Technology | |
|---|---|---|
| Sep 3, 2026 | 0.04 | — |
| Aug 28, 2025 | 0.27 | 0.52 |
| Aug 29, 2024 | 0.30 | 0.61 |
| Aug 31, 2023 | 0.30 | 0.65 |
| Sep 1, 2022 | 0.14 | 0.70 |
| Sep 2, 2021 | 0.15 | 0.82 |
| Sep 3, 2020 | 0.17 | 0.95 |
| Aug 29, 2019 | 0.16 | 0.97 |
| Aug 30, 2018 | 0.14 | 0.82 |
| Aug 31, 2017 | 0.60 | 0.80 |
| Sep 1, 2016 | 0.82 | 0.65 |
| Sep 3, 2015 | 0.60 | 0.56 |
| Aug 28, 2014 | 0.61 | 0.38 |
| Aug 29, 2013 | 0.66 | 0.28 |
| Aug 30, 2012 | 0.42 | 0.24 |
| Sep 1, 2011 | 0.24 | 0.27 |
| Sep 2, 2010 | 0.29 | 0.24 |
| Sep 3, 2009 | 0.67 | 0.25 |
| Aug 28, 2008 | 0.44 | 0.28 |
| Aug 30, 2007 | 0.31 | 0.26 |
| Aug 31, 2006 | 0.07 | 0.19 |
| Sep 1, 2005 | 0.20 | 0.15 |
Based on: 10-K (reporting date: 2026-09-03), 10-K (reporting date: 2025-08-28), 10-K (reporting date: 2024-08-29), 10-K (reporting date: 2023-08-31), 10-K (reporting date: 2022-09-01), 10-K (reporting date: 2021-09-02), 10-K (reporting date: 2020-09-03), 10-K (reporting date: 2019-08-29), 10-K (reporting date: 2018-08-30), 10-K (reporting date: 2017-08-31), 10-K (reporting date: 2016-09-01), 10-K (reporting date: 2015-09-03), 10-K (reporting date: 2014-08-28), 10-K (reporting date: 2013-08-29), 10-K (reporting date: 2012-08-30), 10-K (reporting date: 2011-09-01), 10-K (reporting date: 2010-09-02), 10-K (reporting date: 2009-09-03), 10-K (reporting date: 2008-08-28), 10-K (reporting date: 2007-08-30), 10-K (reporting date: 2006-08-31), 10-K (reporting date: 2005-09-01).