Micron Technology, Inc.

WBAG:MU Stock Report

Market Cap: €109.3b

Micron Technology Valuation

Is MU undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of MU when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MU (€97.95) is trading below our estimate of fair value (€151.58)

Significantly Below Fair Value: MU is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MU?

Key metric: As MU is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for MU. This is calculated by dividing MU's market cap by their current earnings.
What is MU's PE Ratio?
PE Ratio146.3x
EarningsUS$778.00m
Market CapUS$113.80b

Price to Earnings Ratio vs Peers

How does MU's PE Ratio compare to its peers?

The above table shows the PE ratio for MU vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average32.5x
A000660 SK hynix
11.7x35.3%₩121.6t
TXN Texas Instruments
36.6x15.3%US$180.6b
ADI Analog Devices
64.4x25.7%US$106.5b
QCOM QUALCOMM
17.2x7.1%US$174.2b
MU Micron Technology
146.3x31.5%€113.8b

Price-To-Earnings vs Peers: MU is expensive based on its Price-To-Earnings Ratio (146.3x) compared to the peer average (32.5x).

Price to Earnings Ratio vs Industry

How does MU's PE Ratio compare vs other companies in the European Semiconductor Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
MU 146.3xIndustry Avg. 14.8xNo. of Companies7PE01632486480+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MU is expensive based on its Price-To-Earnings Ratio (146.3x) compared to the European Semiconductor industry average (14.8x).

Price to Earnings Ratio vs Fair Ratio

What is MU's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MU PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio146.3x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate MU's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst MU forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€97.95
€138.61
+41.5%
20.1%€237.48€66.49n/a33
Nov ’25€92.64
€135.32
+46.1%
20.1%€231.60€64.85n/a33
Oct ’25€90.48
€130.85
+44.6%
20.3%€223.90€62.69n/a32
Sep ’25€86.25
€143.29
+66.1%
13.6%€201.17€98.35n/a31
Aug ’25€95.87
€150.90
+57.4%
13.0%€207.88€101.63n/a31
Jul ’25€121.58
€147.48
+21.3%
16.9%€210.04€84.02n/a33
Jun ’25€112.42
€123.62
+10.0%
19.0%€207.41€73.74n/a34
May ’25€107.22
€117.71
+9.8%
19.8%€207.25€73.69n/a34
Apr ’25€109.35
€118.15
+8.0%
19.5%€209.48€74.48n/a34
Mar ’25€88.20
€89.31
+1.3%
13.2%€129.53€64.76n/a34
Feb ’25€78.00
€88.40
+13.3%
13.1%€128.65€64.32n/a34
Jan ’25€77.76
€84.02
+8.1%
14.9%€126.78€59.14n/a35
Dec ’24€70.04
€75.84
+8.3%
9.7%€91.88€60.00n/a35
Nov ’24€65.34
€75.19
+15.1%
11.7%€94.30€55.17€92.6435
Oct ’24€64.28
€75.42
+17.3%
11.7%€94.68€55.39€90.4835
Sep ’24€64.92
€69.80
+7.5%
12.8%€90.87€41.80€86.2534
Aug ’24€64.62
€68.36
+5.8%
12.8%€89.28€41.07€95.8734
Jul ’24€57.96
€70.20
+21.1%
13.1%€91.64€42.15€121.5832
Jun ’24€64.06
€66.13
+3.2%
16.8%€93.22€41.95€112.4231
May ’24€57.24
€64.00
+11.8%
16.7%€90.75€40.84€107.2231
Apr ’24€56.39
€63.02
+11.8%
15.0%€92.25€41.51€109.3534
Mar ’24€53.94
€61.96
+14.9%
15.9%€94.34€42.45€88.2032
Feb ’24€56.41
€59.55
+5.6%
16.7%€91.99€41.40€78.0032
Jan ’24€47.46
€61.27
+29.1%
17.2%€94.19€42.39€77.7633
Dec ’23€53.32
€65.27
+22.4%
16.1%€96.85€43.58€70.0434
Nov ’23€55.83
€67.77
+21.4%
16.8%€101.22€45.55€65.3433

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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