What is Micron Technology Inc worth?
With the base-case assumptions below, a discounted cash flow model on Micron Technology Inc's reported free cash flow gives $1,735.49 per share. The share price was $953.19 on October 13, 2026, 45% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 10.0% | 10.0% | $1,066.70 | +12% |
| Base | 15.0% | 9.0% | $1,735.49 | +82% |
| Bull | 20.0% | 8.0% | $2,980.82 | +213% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $2,241.85 | $2,399.73 | $2,592.70 | $2,833.91 | $3,144.04 |
| 8.0% | $1,861.47 | $1,963.86 | $2,084.86 | $2,230.06 | $2,407.54 |
| 9.0% | $1,584.71 | $1,654.72 | $1,735.49 | $1,829.73 | $1,941.10 |
| 10.0% | $1,374.86 | $1,424.64 | $1,481.06 | $1,545.54 | $1,619.95 |
| 11.0% | $1,210.66 | $1,247.15 | $1,287.94 | $1,333.83 | $1,385.84 |
Where the presets come from
Base: years 1 to 5 grow at Micron Technology Inc's revenue growth rate over the last 5 fiscal years (36.9% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions