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Held by 2,894 of 5,944 reporting institutions (100th percentile) — extremely crowded.
Data as of Q1 2026
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Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $977.50 today, the market must believe free cash flow compounds 69.3%/yr for a decade (off $895M normalized FCF).
The market's 69.3% is more optimistic than its 8-yr track record.
2-stage DCF · 1.12B shares · net debt $2.5B
mean 548.4% · volatility σ 1133% · implied rate exceeded in 3/7 yrs
Central path = implied 69.3%/yr growth; shaded band = ±1σ (1133%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Needs granular two-year detail (receivables, PP&E, D&A, SG&A) — not fully reported.
Cash conversion lags reported earnings — watch accruals. Lower/negative accruals = higher quality (Sloan).
Comfortably covers interest; leverage falling year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $522M dividends + $0 buybacks = $522M returned on $1.7B FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Modest payoff on reinvested capital. Current ROIC on all capital: 13%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $9.6B covers the $0 due within a year 9642000000.0× over. Scheduled principal only (excludes interest & revolver draws). As of 2025-08-28 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~3.9% on $12.1B of debt.
Cash of $9.6B fully covers short-term debt of $560M.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-09-17
No material risks flagged.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Returns are margin-driven, not leverage-driven — higher quality.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 13.3× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2021 | FY2022 | FY2023 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 41.1 | 54.3 | 69.4 | 62.4 | 54.8 | 109.1 | 77.6 | 60.2 |
| Gross Profit | 58.9 | 45.7 | 30.6 | 37.6 | 45.2 | -9.1 | 22.4 | 39.8 |
| R&D | 7.0 | 10.4 | 12.1 | 9.6 | 10.1 | 20.0 | 13.7 | 10.2 |
| SG&A | 2.7 | 3.6 | 4.1 | 3.2 | 3.5 | 5.9 | 4.5 | 3.2 |
| Operating Income | 49.3 | 31.5 | 14.0 | 22.7 | 31.5 | -37.0 | 5.2 | 26.1 |
| Income Tax | 0.6 | 3.0 | 1.3 | 1.4 | 2.9 | 1.1 | 1.8 | 3.0 |
| Net Income | 46.5 | 27.0 | 12.5 | 21.2 | 28.2 | -37.5 | 3.1 | 22.8 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on MU: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | FY2017 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $37.38B 100.0% | $25.11B 100.0% | $15.54B 100.0% | $30.76B 100.0% | $27.70B 100.0% | $21.43B 100.0% | $23.41B 100.0% | $30.39B 100.0% | $20.32B 100.0% | $12.40B 100.0% |
| Cost of Revenue | $22.50B 60.2% | $19.50B 77.6% | $16.96B 109.1% | $16.86B 54.8% | $17.28B 62.4% | $14.88B 69.4% | $12.70B 54.3% | $12.50B 41.1% | $11.89B 58.5% | $9.89B 79.8% |
| Gross Profit | $14.87B 39.8% | $5.61B 22.4% | -$1.42B -9.1% | $13.90B 45.2% | $10.42B 37.6% | $6.55B 30.6% | $10.70B 45.7% | $17.89B 58.9% | $8.44B 41.5% | $2.50B 20.2% |
| Research & Development | $3.80B 10.2% | $3.43B 13.7% | $3.11B 20.0% | $3.12B 10.1% | $2.66B 9.6% | $2.60B 12.1% | $2.44B 10.4% | $2.14B 7.0% | $1.82B 9.0% | $1.62B 13.0% |
| Selling, General & Admin | $1.21B 3.2% | $1.13B 4.5% | $920.0M 5.9% | $1.07B 3.5% | $894.0M 3.2% | $881.0M 4.1% | $836.0M 3.6% | $813.0M 2.7% | $743.0M 3.7% | $659.0M 5.3% |
| Operating Income | $9.77B 26.1% | $1.30B 5.2% | -$5.75B -37.0% | $9.70B 31.5% | $6.28B 22.7% | $3.00B 14.0% | $7.38B 31.5% | $14.99B 49.3% | $5.87B 28.9% | $168.0M 1.4% |
| Interest Expense | $477.0M 1.3% | $562.0M 2.2% | $388.0M 2.5% | $189.0M 0.6% | $183.0M 0.7% | $194.0M 0.9% | $128.0M 0.5% | $342.0M 1.1% | $601.0M 3.0% | $437.0M 3.5% |
| Other Income (Expense), net | -$135.0M -0.4% | -$31.0M -0.1% | $7.0M 0.0% | -$38.0M -0.1% | $81.0M 0.3% | $60.0M 0.3% | -$405.0M -1.7% | -$465.0M -1.5% | -$112.0M -0.6% | -$54.0M -0.4% |
| Pretax Income | $9.65B 25.8% | $1.24B 4.9% | -$5.66B -36.4% | $9.57B 31.1% | $6.22B 22.4% | $2.98B 13.9% | $7.05B 30.1% | $14.31B 47.1% | $5.20B 25.6% | -$281.0M -2.3% |
| Income Tax Expense | $1.12B 3.0% | $451.0M 1.8% | $177.0M 1.1% | $888.0M 2.9% | $394.0M 1.4% | $280.0M 1.3% | $693.0M 3.0% | $168.0M 0.6% | $114.0M 0.6% | $19.0M 0.2% |
| Net Income | $8.54B 22.8% | $778.0M 3.1% | -$5.83B -37.5% | $8.69B 28.2% | $5.86B 21.2% | $2.69B 12.5% | $6.31B 27.0% | $14.13B 46.5% | $5.09B 25.0% | -$276.0M -2.2% |
| Per Share | ||||||||||
| EPS (Basic) | $7.65 | $0.70 | $-5.34 | $7.81 | $5.23 | $2.42 | $5.67 | $12.27 | $4.67 | $-0.27 |
| EPS (Diluted) | $7.59 | $0.70 | $-5.34 | $7.75 | $5.14 | $2.37 | $5.51 | $11.51 | $4.41 | $-0.27 |
| Weighted Avg Shares (Basic) | 1.12B | 1.10B | 1.09B | 1.11B | 1.12B | 1.11B | 1.11B | 1.15B | 1.09B | 1.04B |
| Weighted Avg Shares (Diluted) | 1.13B | 1.12B | 1.09B | 1.12B | 1.14B | 1.13B | 1.14B | 1.23B | 1.15B | 1.04B |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Ranked against 743 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TSM | $11.16T | — | — | — | — | — | — | — | — | — | 3,121 |
| NVDA | $5.33T | 44.8× | 40.0× | 24.7× | 65.5% | 71.1% | 55.6% | 76.3% | 72.4% | 0.1× | 5,582 |
| AAPL | $4.98T | 45.2× | 34.8× | 12.0× | 6.4% | 46.9% | 26.9% | 152% | 68.1% | 0.6× | 5,858 |
| MSFT | $3.70T | 27.7× | 19.6× | 11.1× | 17.8% | 67.9% | 40.3% | 30.2% | 27.7% | 0.2× | 5,944 |
| AVGO | $1.65T | 72.8× | 65.1× | 25.8× | 23.9% | 67.8% | 36.2% | 28.4% | 15.8% | 2.5× | 4,442 |
| MU | $1.10T | 128.8× | 60.7× | 29.3× | 48.9% | 39.8% | 22.8% | 15.8% | 12.9% | 0.7× | 2,894 |
| AMD | $888.5B | 205.7× | 210.2× | 25.6× | 34.3% | 49.5% | 12.5% | 6.9% | 6.5% | 0.8× | 3,059 |
| INTC | $543.3B | — | 67.4× | 10.3× | -0.5% | 34.8% | -0.5% | -0.2% | -0.2% | 5.5× | 2,495 |
| CSCO | $436.6B | 43.2× | 36.6× | 7.7× | 5.3% | 64.9% | 18.0% | 21.7% | 13.6% | 2.3× | 3,560 |
| PLTR | $421.4B | 279.8× | 291.6× | 94.2× | 56.2% | 82.4% | 36.3% | 22.0% | 22.0% | — | 2,883 |
| DELL | $383.6B | 67.8× | 36.1× | 3.4× | 18.8% | 20.0% | 5.2% | -240% | 20.4% | 2.8× | 1,564 |
| LRCX | $341.7B | 64.9× | 54.5× | 18.5× | 23.7% | 48.7% | 29.1% | 54.3% | 37.4% | 0.7× | 2,500 |
| RPAY | $338.0B | — | — | 1092.8× | -1.2% | 75.0% | -83.0% | -53.0% | -28.2% | -1.7× | 142 |
| AMAT | $331.0B | 48.2× | 38.1× | 11.7× | 4.4% | 48.7% | 24.7% | 34.3% | 25.9% | 0.8× | 2,826 |
| UMC | $307.4B | — | — | — | — | — | — | — | — | — | 302 |
| ARM | $281.9B | 311.6× | 242.9× | 57.3× | 22.8% | 97.5% | 18.4% | 10.9% | 10.9% | — | 730 |
| SAP | $262.5B | — | — | — | — | — | — | — | — | — | 794 |
| ANET | $250.7B | 72.6× | 63.3× | 27.8× | 28.6% | 64.1% | 39.0% | 28.4% | 28.4% | — | 1,930 |
| PANW | $250.5B | 234.4× | 156.5× | 27.2× | 14.9% | 73.4% | 12.3% | 14.5% | 14.5% | — | 2,374 |
| SNDK | $235.7B | — | — | 32.0× | 10.4% | 30.1% | -22.3% | -17.8% | -14.8% | -1.5× | 1,127 |
| TXN | $234.6B | 47.4× | 30.9× | 13.3× | 13.0% | 57.0% | 28.3% | 30.7% | 16.5% | 1.8× | 2,345 |
| CRM | $225.6B | 31.1× | 24.4× | 5.4× | 9.6% | 77.7% | 18.0% | 12.6% | 10.1% | 1.5× | 2,547 |
| IBM | $222.8B | 21.3× | — | 3.3× | 7.6% | 58.2% | 15.7% | 32.4% | 11.3% | — | 3,351 |
| MRVL | $204.0B | 78.4× | 133.3× | 24.9× | 42.1% | 51.0% | 32.6% | 18.7% | 14.2% | 2.9× | 1,477 |
| QCOM | $202.7B | 37.7× | 15.2× | 4.6× | 13.7% | 55.4% | 12.5% | 26.1% | 15.4% | 1.1× | 2,611 |
Peers = companies sharing MU's sector (Technology) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.