Micron Technology Valuation

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

MU (CHF65.82) is trading below our estimate of [[fair value]] (CHF95.03)

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

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales 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 (CHF65.82) is trading below our estimate of fair value (CHF95.03)

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?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for MU. This is calculated by dividing MU's market cap by their current preferred multiple.
What is MU's n/a Ratio?
n/a	0x
n/a	n/a
Market Cap	US$119.74b

MU key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	5.8x
Enterprise Value/EBITDA	20.8x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for MU vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	1.8x
AMS ams-OSRAM	0.3x	6.4%	CHF 1.1b
UBXN u-blox Holding	1.6x	16.7%	CHF 584.9m
INTC Intel	1.7x	4.9%	US$89.2b
A000660 SK hynix	3.4x	25.9%	₩133.4t
MU Micron Technology	5.6x	25.9%	CHF 119.7b

Price-To-Sales vs Peers: MU is expensive based on its Price-To-Sales Ratio (5.6x) compared to the peer average (1.7x).

Price to Earnings Ratio vs Industry

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

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	22.3%
	n/a	n/a	n/a

Fetching data

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	22.3%
	n/a	n/a	n/a

No more companies

Price-To-Sales vs Industry: MU is expensive based on its Price-To-Sales Ratio (5.6x) compared to the European Semiconductor industry average (2.1x).

Price to Sales Ratio vs Fair Ratio

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

MU PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	5.6x
Fair PS Ratio	1.9x

Price-To-Sales vs Fair Ratio: MU is expensive based on its Price-To-Sales Ratio (5.6x) compared to the estimated Fair Price-To-Sales Ratio (1.9x).

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.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	CHF 65.82	CHF 138.79 +110.9%	14.0%	CHF 195.02	CHF 95.34	n/a	31
Aug ’25	CHF 65.82	CHF 145.19 +120.6%	13.5%	CHF 201.19	CHF 98.36	n/a	31
Jul ’25	CHF 65.82	CHF 141.92 +115.6%	16.9%	CHF 202.12	CHF 80.85	n/a	33
Jun ’25	CHF 65.82	CHF 120.99 +83.8%	19.0%	CHF 203.00	CHF 72.18	n/a	34
May ’25	CHF 65.82	CHF 115.68 +75.8%	19.8%	CHF 203.68	CHF 72.42	n/a	34
Apr ’25	CHF 65.82	CHF 114.79 +74.4%	19.5%	CHF 203.52	CHF 72.36	n/a	34
Mar ’25	CHF 65.82	CHF 85.35 +29.7%	13.2%	CHF 123.80	CHF 61.90	n/a	34
Feb ’25	CHF 65.82	CHF 83.59 +27.0%	13.1%	CHF 121.64	CHF 60.82	n/a	34
Jan ’25	CHF 65.82	CHF 79.18 +20.3%	14.9%	CHF 119.48	CHF 55.73	n/a	35
Dec ’24	CHF 65.82	CHF 72.27 +9.8%	9.7%	CHF 87.56	CHF 57.18	n/a	35
Nov ’24	CHF 65.82	CHF 72.14 +9.6%	11.7%	CHF 90.47	CHF 52.93	n/a	35
Oct ’24	CHF 65.82	CHF 72.90 +10.8%	11.7%	CHF 91.52	CHF 53.54	n/a	35
Sep ’24	CHF 65.82	CHF 67.07 +1.9%	12.8%	CHF 87.32	CHF 40.16	n/a	34
Aug ’24	CHF 65.82	CHF 65.75 -0.1%	12.8%	CHF 85.87	CHF 39.50	CHF 65.82	34
Jul ’24	CHF 65.82	CHF 68.57 +4.2%	13.1%	CHF 89.50	CHF 41.17	CHF 65.82	32
Jun ’24	CHF 65.82	CHF 64.20 -2.5%	16.8%	CHF 90.50	CHF 40.72	CHF 65.82	31
May ’24	CHF 65.82	CHF 63.03 -4.2%	16.7%	CHF 89.38	CHF 40.22	CHF 65.82	31
Apr ’24	CHF 65.82	CHF 62.78 -4.6%	15.0%	CHF 91.89	CHF 41.35	CHF 65.82	34
Mar ’24	CHF 65.82	CHF 61.30 -6.9%	15.9%	CHF 93.33	CHF 42.00	CHF 65.82	32
Feb ’24	CHF 65.82	CHF 59.27 -10.0%	16.7%	CHF 91.55	CHF 41.20	CHF 65.82	32
Jan ’24	CHF 65.82	CHF 60.72 -7.8%	17.2%	CHF 93.33	CHF 42.00	CHF 65.82	33
Dec ’23	CHF 65.82	CHF 64.29 -2.3%	16.1%	CHF 95.40	CHF 42.93	CHF 65.82	34
Nov ’23	CHF 65.82	CHF 67.04 +1.9%	16.8%	CHF 100.14	CHF 45.06	CHF 65.82	33
Oct ’23	CHF 65.82	CHF 66.20 +0.6%	17.0%	CHF 98.67	CHF 44.40	CHF 65.82	32
Sep ’23	CHF 65.82	CHF 72.89 +10.7%	18.3%	CHF 106.04	CHF 43.38	CHF 65.82	31
Aug ’23	CHF 65.82	CHF 77.43 +17.6%	24.3%	CHF 158.74	CHF 48.10	CHF 65.82	31

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.