Micron Technology, Inc.

DB:MTE Stock Report

Market Cap: €106.8b

Micron Technology Valuation

Is MTE 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 MTE when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MTE (€91.62) is trading below our estimate of fair value (€147.89)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for MTE. This is calculated by dividing MTE's market cap by their current earnings.
What is MTE's PE Ratio?
PE Ratio139.9x
EarningsUS$778.00m
Market CapUS$112.87b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for MTE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average20.1x
IFX Infineon Technologies
22.3x17.0%€39.0b
ELG Elmos Semiconductor
10.3x4.1%€1.1b
A000660 SK hynix
11.1x35.4%₩115.8t
TXN Texas Instruments
36.8x15.3%US$183.3b
MTE Micron Technology
139.9x31.5%€112.9b

Price-To-Earnings vs Peers: MTE is expensive based on its Price-To-Earnings Ratio (139.9x) compared to the peer average (20.1x).

Price to Earnings Ratio vs Industry

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

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
MTE 139.9xIndustry Avg. 14.9xNo. of Companies7PE01632486480+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MTE is expensive based on its Price-To-Earnings Ratio (139.9x) compared to the European Semiconductor industry average (14.9x).

Price to Earnings Ratio vs Fair Ratio

What is MTE'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.

MTE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio139.9x
Fair PE Ratio36.4x

Price-To-Earnings vs Fair Ratio: MTE is expensive based on its Price-To-Earnings Ratio (139.9x) compared to the estimated Fair Price-To-Earnings Ratio (36.4x).

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 MTE forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€91.62
€139.03
+51.7%
20.1%€238.20€66.70n/a33
Nov ’25€91.87
€135.32
+47.3%
20.1%€231.60€64.85n/a33
Oct ’25€90.94
€130.85
+43.9%
20.3%€223.90€62.69n/a32
Sep ’25€86.86
€143.29
+65.0%
13.6%€201.17€98.35n/a31
Aug ’25€92.79
€150.90
+62.6%
13.0%€207.88€101.63n/a31
Jul ’25€122.42
€147.48
+20.5%
16.9%€210.04€84.02n/a33
Jun ’25€112.60
€123.62
+9.8%
19.0%€207.41€73.74n/a34
May ’25€107.28
€117.71
+9.7%
19.8%€207.25€73.69n/a34
Apr ’25€109.30
€118.15
+8.1%
19.5%€209.48€74.48n/a34
Mar ’25€87.80
€89.31
+1.7%
13.2%€129.53€64.76n/a34
Feb ’25€78.86
€88.40
+12.1%
13.1%€128.65€64.32n/a34
Jan ’25€77.72
€84.02
+8.1%
14.9%€126.78€59.14n/a35
Dec ’24€69.78
€75.84
+8.7%
9.7%€91.88€60.00n/a35
Nov ’24€65.66
€75.19
+14.5%
11.7%€94.30€55.17€91.8735
Oct ’24€64.46
€75.42
+17.0%
11.7%€94.68€55.39€90.9435
Sep ’24€65.10
€69.80
+7.2%
12.8%€90.87€41.80€86.8634
Aug ’24€63.94
€68.36
+6.9%
12.8%€89.28€41.07€92.7934
Jul ’24€58.10
€70.20
+20.8%
13.1%€91.64€42.15€122.4232
Jun ’24€64.44
€66.13
+2.6%
16.8%€93.22€41.95€112.6031
May ’24€56.24
€64.00
+13.8%
16.7%€90.75€40.84€107.2831
Apr ’24€56.43
€63.02
+11.7%
15.0%€92.25€41.51€109.3034
Mar ’24€54.17
€61.96
+14.4%
15.9%€94.34€42.45€87.8032
Feb ’24€56.15
€59.55
+6.1%
16.7%€91.99€41.40€78.8632
Jan ’24€47.23
€61.27
+29.8%
17.2%€94.19€42.39€77.7233
Dec ’23€54.81
€65.27
+19.1%
16.1%€96.85€43.58€69.7834
Nov ’23€55.20
€67.77
+22.8%
16.8%€101.22€45.55€65.6633

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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