Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).

Current Valuation Ratios
Historical Valuation Ratios (Summary)
Price to Earnings (P/E)
Price to Operating Profit (P/OP)
Price to Sales (P/S)
Price to Book Value (P/BV)

Micron Technology Inc., current price multiples

	Micron Technology Inc.		Advanced Micro Devices Inc.	Analog Devices Inc.	Applied Materials Inc.	Broadcom Inc.	Intel Corp.	KLA Corp.	Lam Research Corp.	NVIDIA Corp.	Qualcomm Inc.	Texas Instruments Inc.		Semiconductors & Semiconductor Equipment		Information Technology
Selected Financial Data
Current share price (P)
No. shares of common stock outstanding
Growth rate (g)

Earnings per share (EPS)
Next year expected EPS
Operating profit per share
Sales per share
Book value per share (BVPS)
Valuation Ratios (Price Multiples)
Price to earnings (P/E)
Price to next year expected earnings
Price-earnings-growth (PEG)
Price to operating profit (P/OP)
Price to sales (P/S)
Price to book value (P/BV)

Based on: 10-K (reporting date: 2025-08-28).

If the company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if the company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.

Micron Technology Inc., historical price multiples

		Aug 28, 2025	Aug 29, 2024	Aug 31, 2023	Sep 1, 2022	Sep 2, 2021	Sep 3, 2020
	Price to earnings (P/E)
	Price to operating profit (P/OP)
	Price to sales (P/S)
	Price to book value (P/BV)

Based on: 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).

Price to Earnings (P/E) Ratio: The Price to Earnings ratio demonstrated a declining trend from 21.8 in 2020 to 6.62 in 2022, reflecting a reduction in market valuation relative to earnings. There was an absence of data for 2023. The ratio sharply increased to 145.72 in 2024, indicating either a substantial decrease in earnings or a spike in price, followed by a decrease to 24.69 in 2025, though still elevated compared to earlier years.
Price to Operating Profit (P/OP) Ratio: This ratio followed a similar pattern to the P/E ratio, dropping from 19.51 in 2020 to 5.93 in 2022, indicating an improved relationship between price and operating profit in the earlier years. The data for 2023 is missing. The ratio then increased dramatically to 86.94 in 2024, before reducing to 21.58 in 2025, again suggesting volatility in operating profitability relative to market valuation.
Price to Sales (P/S) Ratio: Unlike the P/E and P/OP ratios, the Price to Sales ratio remained relatively stable but with an upward trend overall. It was 2.73 in 2020, mildly increasing to 2.83 in 2021, then declining to 1.87 in 2022. Following this, there was a substantial increase, rising to 4.94 in 2023, slightly decreasing to 4.51 in 2024, and then increasing again to 5.64 in 2025. This indicates growing market valuation relative to sales over the period, especially in the later years.
Price to Book Value (P/BV) Ratio: The Price to Book Value ratio showed moderate fluctuations with a general upward trend. It started at 1.5 in 2020, increased to 1.79 in 2021, declined to 1.15 in 2022, then rose to 1.74 in 2023. This upward movement continued with a sharp increase to 2.51 in 2024 and a further rise to 3.89 in 2025, implying that the market increasingly valued the company's book equity over time, particularly in the final periods.

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Micron Technology Inc., historical P/E calculation, comparison to benchmarks

		Aug 28, 2025	Aug 29, 2024	Aug 31, 2023	Sep 1, 2022	Sep 2, 2021	Sep 3, 2020
	No. shares of common stock outstanding¹
	Selected Financial Data (US$)
	Net income (loss) attributable to Micron (in millions)
	Earnings per share (EPS)²
	Share price^1, 3
	Valuation Ratio
	P/E ratio⁴
	Benchmarks
	P/E Ratio, Competitors⁵
	Advanced Micro Devices Inc.
	Analog Devices Inc.
	Applied Materials Inc.
	Broadcom Inc.
	Intel Corp.
	KLA Corp.
	Lam Research Corp.
	NVIDIA Corp.
	Qualcomm Inc.
	Texas Instruments Inc.
	P/E Ratio, Sector
	Semiconductors & Semiconductor Equipment
	P/E Ratio, Industry
	Information Technology

Based on: 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).

¹ Data adjusted for splits and stock dividends.

² 2025 Calculation
EPS = Net income (loss) attributable to Micron ÷ No. shares of common stock outstanding
= ÷ =

³ Closing price as at the filing date of Micron Technology Inc. Annual Report.

⁴ 2025 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =

⁵ Click competitor name to see calculations.

Share Price: The share price demonstrates significant volatility over the observed periods, starting at $52.63 and exhibiting an overall upward trajectory. It peaked at $187.83 in the most recent period, reflecting strong capital market performance. Notably, after a dip to approximately $52.91 in 2022, the price recovered sharply in subsequent years, nearly doubling from 2023 to 2025.
Earnings Per Share (EPS): EPS showed a positive growth trend from 2020 through 2022, rising from $2.41 to $7.99, indicating increasing profitability. However, a substantial negative value of -$5.31 in 2023 signals a significant loss during that year. The EPS then rebounded, climbing to $0.70 in 2024 and reaching $7.61 by 2025, suggesting a strong recovery in earnings after the decline.
Price-to-Earnings (P/E) Ratio: The P/E ratio decreased markedly from 21.8 in 2020 to 6.62 in 2022, reflecting either a rapidly growing earnings base or possibly a market discount on the share price. The ratio is missing for 2023, likely due to negative earnings, which invalidates the measure. The exceptionally high P/E of 145.72 in 2024 indicates a market premium relative to modest earnings, possibly due to investor optimism despite recent losses. By 2025, the P/E ratio normalizes to 24.69, which remains above historical levels but aligns with the earnings recovery and share price appreciation.
Overall Insights: The data exhibits volatility with a pattern of growth interrupted by a year of substantial loss in 2023. The firm experienced a rapid recovery in both earnings and share price following this downturn. The fluctuating P/E ratios highlight periods of market adjustment and investor sentiment shifts corresponding to the changes in profitability. The most recent period shows optimism with a strong market valuation relative to earnings, signaling potential confidence in future prospects.

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Micron Technology Inc., historical P/OP calculation, comparison to benchmarks

		Aug 28, 2025	Aug 29, 2024	Aug 31, 2023	Sep 1, 2022	Sep 2, 2021	Sep 3, 2020
	No. shares of common stock outstanding¹
	Selected Financial Data (US$)
	Operating income (loss) (in millions)
	Operating profit per share²
	Share price^1, 3
	Valuation Ratio
	P/OP ratio⁴
	Benchmarks
	P/OP Ratio, Competitors⁵
	Advanced Micro Devices Inc.
	Analog Devices Inc.
	Applied Materials Inc.
	Broadcom Inc.
	Intel Corp.
	KLA Corp.
	Lam Research Corp.
	NVIDIA Corp.
	Qualcomm Inc.
	Texas Instruments Inc.
	P/OP Ratio, Sector
	Semiconductors & Semiconductor Equipment
	P/OP Ratio, Industry
	Information Technology

Based on: 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).

¹ Data adjusted for splits and stock dividends.

² 2025 Calculation
Operating profit per share = Operating income (loss) ÷ No. shares of common stock outstanding
= ÷ =

³ Closing price as at the filing date of Micron Technology Inc. Annual Report.

⁴ 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =

⁵ Click competitor name to see calculations.

Share Price: The share price experienced fluctuations over the analyzed period, beginning at $52.63 and rising to $70.12 the following year. It then decreased to $52.91 before climbing sharply to $69.96. Subsequent years showed significant increases, reaching $102.25 and eventually $187.83. This indicates a general upward trend with intermediate volatility.
Operating Profit Per Share: The operating profit per share showed an initial upward trajectory, increasing from $2.70 to $5.62, and further accelerating to $8.92 by the third year. However, it then dropped sharply to a negative value of -$5.23, indicating a period of operational losses. Recovery ensued with a positive but modest $1.18, followed by a strong rebound to $8.70 in the final year assessed.
Price to Operating Profit Ratio (P/OP): The P/OP ratio demonstrated significant volatility. Initially, it declined from 19.51 to 12.48 and further to 5.93, reflecting an improving relationship between share price and operating profit. However, the absence of data for one year coincided with large fluctuations in other indicators. This was followed by a dramatic spike to 86.94, indicative of either elevated share price relative to profit or depressed operating profit levels, before settling back to 21.58 in the last year. This pattern points to substantial shifts in market valuation relative to operating performance.
Overall Insights: The data reveals a cyclical financial performance with periods of growth interrupted by a notable downturn. The share price trend ultimately reflects increased investor confidence despite operational setbacks. Conversely, the operating profit per share’s volatility highlights challenges in maintaining consistent profitability. The dramatic fluctuations in the P/OP ratio underscore changing market perceptions and potentially altered risk profiles during the timeframe.

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Micron Technology Inc., historical P/S calculation, comparison to benchmarks

		Aug 28, 2025	Aug 29, 2024	Aug 31, 2023	Sep 1, 2022	Sep 2, 2021	Sep 3, 2020
	No. shares of common stock outstanding¹
	Selected Financial Data (US$)
	Revenue (in millions)
	Sales per share²
	Share price^1, 3
	Valuation Ratio
	P/S ratio⁴
	Benchmarks
	P/S Ratio, Competitors⁵
	Advanced Micro Devices Inc.
	Analog Devices Inc.
	Applied Materials Inc.
	Broadcom Inc.
	Intel Corp.
	KLA Corp.
	Lam Research Corp.
	NVIDIA Corp.
	Qualcomm Inc.
	Texas Instruments Inc.
	P/S Ratio, Sector
	Semiconductors & Semiconductor Equipment
	P/S Ratio, Industry
	Information Technology

Based on: 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).

¹ Data adjusted for splits and stock dividends.

² 2025 Calculation
Sales per share = Revenue ÷ No. shares of common stock outstanding
= ÷ =

³ Closing price as at the filing date of Micron Technology Inc. Annual Report.

⁴ 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =

⁵ Click competitor name to see calculations.

Share Price Trend: The share price demonstrated a fluctuating yet overall upward trajectory over the observed periods. Commencing at $52.63, it rose to a peak of $70.12 in the following year but declined to $52.91 the next year. Subsequent years saw a substantial increase, reaching $69.96, followed by more pronounced growth to $102.25 and ultimately $187.83. This pattern suggests heightened investor confidence and potentially improved market sentiment in the latter years.
Sales Per Share Trend: Sales per share presented variability across the years. Initial growth was observed rising from $19.25 to $24.77 and then to $28.29. However, a significant drop to $14.15 occurred in the fourth year, indicating a possible decline in revenue or share dilution. Following this decrease, sales per share recovered to $22.65 and then increased considerably to $33.30, suggesting a rebound in operational performance or improved revenue generation per share.
Price-to-Sales Ratio (P/S) Analysis: The P/S ratio showed notable fluctuations. It remained relatively stable initially with values around 2.73 to 2.83, before declining sharply to 1.87 in the third year. Subsequently, the ratio increased significantly to 4.94 and slightly decreased to 4.51, then climbed further to 5.64 in the final year. This trend indicates changes in stock valuation relative to sales, where the market valued the company more highly per unit of sales in recent years, possibly reflecting anticipated growth or improved profitability prospects.
Overall Summary: The financial data indicates a company experiencing variable but generally improving market valuation and operational performance over the analyzed time frame. Although sales per share encountered a marked dip, recovery in subsequent years drove both sales and share price higher. The increasing P/S ratio in later years suggests a stronger market perception of growth potential or improved earnings quality relative to sales.

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Micron Technology Inc., historical P/BV calculation, comparison to benchmarks

		Aug 28, 2025	Aug 29, 2024	Aug 31, 2023	Sep 1, 2022	Sep 2, 2021	Sep 3, 2020
	No. shares of common stock outstanding¹
	Selected Financial Data (US$)
	Shareholders’ equity (in millions)
	Book value per share (BVPS)²
	Share price^1, 3
	Valuation Ratio
	P/BV ratio⁴
	Benchmarks
	P/BV Ratio, Competitors⁵
	Advanced Micro Devices Inc.
	Analog Devices Inc.
	Applied Materials Inc.
	Broadcom Inc.
	Intel Corp.
	KLA Corp.
	Lam Research Corp.
	NVIDIA Corp.
	Qualcomm Inc.
	Texas Instruments Inc.
	P/BV Ratio, Sector
	Semiconductors & Semiconductor Equipment
	P/BV Ratio, Industry
	Information Technology

Based on: 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).

¹ Data adjusted for splits and stock dividends.

² 2025 Calculation
BVPS = Shareholders’ equity ÷ No. shares of common stock outstanding
= ÷ =

³ Closing price as at the filing date of Micron Technology Inc. Annual Report.

⁴ 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =

⁵ Click competitor name to see calculations.

Share Price: The share price has generally exhibited an upward trend over the observed period. Starting from $52.63 at the end of 2020, it increased notably to $70.12 in 2021 before experiencing a decline to $52.91 in 2022. Subsequently, the share price recovered sharply, rising to $69.96 in 2023 and continuing the upward momentum to $102.25 in 2024. The most significant increase occurred in 2025, reaching $187.83. This pattern indicates strong investor confidence, particularly in the most recent years.
Book Value Per Share (BVPS): The book value per share showed a positive trend over the period, increasing from $35.03 in 2020 to $48.26 in 2025. This value rose steadily to $39.27 in 2021 and further to $45.91 in 2022 before dipping slightly to $40.18 in 2023. It then stabilized around the $40 range in 2024 before growing again to $48.26 in 2025. This trajectory suggests overall growth in company net assets on a per-share basis, despite some fluctuations.
Price-to-Book Value Ratio (P/BV): The price-to-book value ratio exhibited volatility but an overall increasing trend from 1.5 in 2020 to 3.89 in 2025. It rose from 1.5 in 2020 to 1.79 in 2021, sharply dropped to 1.15 in 2022 coinciding with the decline in share price, then rebounded to 1.74 in 2023. The ratio surged to 2.51 in 2024 and further to 3.89 in 2025. The rising P/BV ratio indicates that market valuation relative to book value per share has grown substantially, demonstrating increased investor optimism or expectations of future performance improvements.

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Micron Technology Inc. (NASDAQ:MU)

Common Stock Valuation Ratios (Price Multiples)

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Current Valuation Ratios

Historical Valuation Ratios (Summary)

Price to Earnings (P/E)

Price to Operating Profit (P/OP)

Price to Sales (P/S)

Price to Book Value (P/BV)