Results
FOURTH-QUARTER AND FULL-YEAR 2026 RESULTS
Management commentary
AI-driven demand and strong operational execution position Micron for a record fiscal 2027
Results
BOISE, Idaho, September 30, 2026 – Micron Technology, Inc. (Nasdaq: MU) today announced results for its fourth quarter and full year of fiscal 2026, which ended September 3, 2026.
Fiscal Q4 2026 Highlights
7Revenue of $54.23 billion versus $41.46 billion for the prior quarter and $11.32 billion for the same period last year
GAAP net income of $37.70 billion, or $32.87 per diluted share
Non-GAAP net income of $38.40 billion, or $33.42 per diluted share
Operating cash flow of $43.97 billion versus $25.39 billion for the prior quarter and $5.73 billion for the same period last year
Fiscal 2026 Highlights
Revenue of $133.19 billion versus $37.38 billion for the prior year
GAAP net income of $84.97 billion, or $74.33 per diluted share
Non-GAAP net income of $86.76 billion, or $75.52 per diluted share
Operating cash flow of $89.68 billion versus $17.53 billion for the prior year
Management commentary
3“Micron delivered record fiscal 2026 results, and we expect an even stronger fiscal 2027,” said Sanjay Mehrotra, Chairman and CEO of Micron Technology.
“AI is becoming Super Intelligence (SI), and memory enhances this intelligence and the competitiveness of our customers’ platforms.
We are increasing our investments in technology, products and manufacturing to help drive SI forward with our customers, and our Strategic Customer Agreements provide added confidence in the durability of Micron’s financial performance.”
Results
6Investments in capital expenditures, net (2) were $10.77 billion for the fourth quarter of 2026 and $27.37 billion for the full year of 2026.
4Adjusted free cash flow (2) was $33.20 billion for the fourth quarter of 2026 and $62.31 billion for the full year of 2026.
Micron ended the year with cash, marketable investments, and restricted cash of $73.48 billion.
8On September 30, 2026, Micron’s Board of Directors declared a quarterly dividend of $0.15 per share, payable in cash on October 29, 2026, to shareholders of record as of the close of business on October 14, 2026.
Outlook
Business Outlook
FQ1-27GAAP (1) OutlookNon-GAAP (2) Outlook
Revenue$61.5 billion ± $1.5 billion$61.5 billion ± $1.5 billionGuidance reaffirmed
Gross marginApproximately 85.95%Approximately 86.25%
Operating expensesApproximately $2.31 billionApproximately $2.06 billion
Diluted earnings per share$37.84 ± $1.00$38.15 ± $1.00
Product Highlights
Corporate events
We began sampling the industry's first 512GB ultra dense high-capacity DDR5 RDIMM modules capable of speeds up to 9,200 MT/s.
We have completed multiple customer qualifications of our 1-gamma based, 8,800 MT/s high-speed server RDIMM modules.
Results
1Our industry leading server LPDDR SOCAMM portfolio revenue more than doubled sequentially in the fourth quarter of 2026.
Corporate events
Our 7600 PCIe Gen 5 and 9650 PCIe Gen 6 SSD high-performance products are now shipping to market-leading customers for KV-cache applications.
Results
Our 6600 ION SSD achieved a strong volume ramp in the fourth quarter of 2026.
Corporate events
We are now shipping 6-channel 1-gamma LPDDR5X for flagship mobile devices.
Management commentary
2We have secured design wins with every Tier 1 OEM customer for AI workstation product.
Corporate events
5Our 4600 SSD secured additional qualifications with leading PC OEMs.
We began sampling 1-gamma based LPDDR6 products to multiple physical AI markets.
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