Enterprise Value (EV)
Current Enterprise Value (EV)
Micron Technology Inc., current enterprise value calculation
| Current share price (P) | $690.00 |
| No. shares of common stock outstanding | 1,131,423,212 |
| US$ in millions | |
| Common equity (market value)1 | 780,682) |
| Total equity | 780,682) |
| Add: Current debt (per books) | 491) |
| Add: Long-term debt (per books) | 4,688) |
| Total equity and debt | 785,861) |
| Less: Cash and equivalents | 38,364) |
| Less: Short-term investments | 5,070) |
| Enterprise value (EV) | 742,427) |
Based on: 10-K (reporting date: 2026-09-03).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 690.00 × 1,131,423,212
Historical Enterprise Value (EV)
Micron Technology Inc., EV calculation
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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Micron Technology Inc. Annual Report.
3 2026 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 1,029.00 × 1,131,423,212
A significant expansion in enterprise value is observed over the analyzed period, characterized by an initial contraction followed by an unprecedented acceleration in valuation. The overall trajectory indicates a transition from moderate volatility to exponential growth, particularly in the final two years of the period.
- Market Capitalization Trends
- Common equity market value experienced a decline from 78,438 million in 2021 to 57,522 million in 2022. This was followed by a consistent recovery and growth phase, with the valuation reaching 113,369 million by 2024 and 210,833 million by 2025. A massive surge is recorded in 2026, where market value escalated to 1,164,234 million.
- Enterprise Value (EV) Progression
- The Enterprise Value closely mirrors the movements of the market capitalization. After dipping to 55,097 million in 2022, the EV grew steadily to 118,660 million by 2024 and 215,103 million by 2025. Similar to the equity trend, the EV exhibits an exponential spike in 2026, reaching 1,125,979 million.
- Capital Structure and Debt Analysis
- Total equity and debt remained closely aligned with the common equity value throughout the period. The marginal difference between total equity and the combined equity and debt figures suggests a capital structure where debt levels are relatively low or are significantly offset by cash holdings in the enterprise value calculation. This indicates that the volatility and growth in the company's total valuation are driven almost entirely by equity market performance rather than changes in leverage.
- Valuation Acceleration
- The most notable insight is the extreme acceleration in valuation between 2025 and 2026. The Enterprise Value increased by approximately 423% in a single year, shifting from a scale of hundreds of billions to over one trillion dollars, signaling a fundamental shift in the market's valuation of the entity's assets and future earnings potential.
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