Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).

Current Valuation Ratios
Historical Valuation Ratios (Summary)
Price to Earnings (P/E)
Price to Operating Profit (P/OP)
Price to Sales (P/S)
Price to Book Value (P/BV)

Micron Technology Inc., current price multiples

	Micron Technology Inc.		Advanced Micro Devices Inc.	Analog Devices Inc.	Applied Materials Inc.	Broadcom Inc.	Intel Corp.	KLA Corp.	Lam Research Corp.	NVIDIA Corp.	ON Semiconductor Corp.	Qualcomm Inc.	Texas Instruments Inc.		Semiconductors & Semiconductor Equipment		Information Technology
Selected Financial Data
Current share price (P)
No. shares of common stock outstanding

Earnings per share (EPS)
Operating profit per share
Sales per share
Book value per share (BVPS)
Valuation Ratios (Price Multiples)
Price to sales (P/S)
Price to book value (P/BV)

Based on: 10-K (reporting date: 2023-08-31).

If the company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if the company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.

Micron Technology Inc., historical price multiples

		Aug 31, 2023	Sep 1, 2022	Sep 2, 2021	Sep 3, 2020	Aug 29, 2019	Aug 30, 2018
	Price to earnings (P/E)
	Price to operating profit (P/OP)
	Price to sales (P/S)
	Price to book value (P/BV)

Based on: 10-K (reporting date: 2023-08-31), 10-K (reporting date: 2022-09-01), 10-K (reporting date: 2021-09-02), 10-K (reporting date: 2020-09-03), 10-K (reporting date: 2019-08-29), 10-K (reporting date: 2018-08-30).

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Valuation ratio	Description	The company
P/S ratio	An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative.	Micron Technology Inc. P/S ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
P/BV ratio	The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return.	Micron Technology Inc. P/BV ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.

Micron Technology Inc., historical P/E calculation, comparison to benchmarks

		Aug 31, 2023	Sep 1, 2022	Sep 2, 2021	Sep 3, 2020	Aug 29, 2019	Aug 30, 2018
	No. shares of common stock outstanding¹
	Selected Financial Data (US$)
	Net income (loss) attributable to Micron (in millions)
	Earnings per share (EPS)²
	Share price^1, 3
	Valuation Ratio
	P/E ratio⁴
	Benchmarks
	P/E Ratio, Competitors⁵
	Advanced Micro Devices Inc.
	Analog Devices Inc.
	Applied Materials Inc.
	Broadcom Inc.
	Intel Corp.
	KLA Corp.
	Lam Research Corp.
	NVIDIA Corp.
	ON Semiconductor Corp.
	Qualcomm Inc.
	Texas Instruments Inc.
	P/E Ratio, Sector
	Semiconductors & Semiconductor Equipment
	P/E Ratio, Industry
	Information Technology

Based on: 10-K (reporting date: 2023-08-31), 10-K (reporting date: 2022-09-01), 10-K (reporting date: 2021-09-02), 10-K (reporting date: 2020-09-03), 10-K (reporting date: 2019-08-29), 10-K (reporting date: 2018-08-30).

¹ Data adjusted for splits and stock dividends.

² 2023 Calculation
EPS = Net income (loss) attributable to Micron ÷ No. shares of common stock outstanding
= ÷ =

³ Closing price as at the filing date of Micron Technology Inc. Annual Report.

⁴ 2023 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =

⁵ Click competitor name to see calculations.

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Micron Technology Inc., historical P/OP calculation, comparison to benchmarks

		Aug 31, 2023	Sep 1, 2022	Sep 2, 2021	Sep 3, 2020	Aug 29, 2019	Aug 30, 2018
	No. shares of common stock outstanding¹
	Selected Financial Data (US$)
	Operating income (loss) (in millions)
	Operating profit per share²
	Share price^1, 3
	Valuation Ratio
	P/OP ratio⁴
	Benchmarks
	P/OP Ratio, Competitors⁵
	Advanced Micro Devices Inc.
	Analog Devices Inc.
	Applied Materials Inc.
	Broadcom Inc.
	Intel Corp.
	KLA Corp.
	Lam Research Corp.
	NVIDIA Corp.
	ON Semiconductor Corp.
	Qualcomm Inc.
	Texas Instruments Inc.
	P/OP Ratio, Sector
	Semiconductors & Semiconductor Equipment
	P/OP Ratio, Industry
	Information Technology

Based on: 10-K (reporting date: 2023-08-31), 10-K (reporting date: 2022-09-01), 10-K (reporting date: 2021-09-02), 10-K (reporting date: 2020-09-03), 10-K (reporting date: 2019-08-29), 10-K (reporting date: 2018-08-30).

¹ Data adjusted for splits and stock dividends.

² 2023 Calculation
Operating profit per share = Operating income (loss) ÷ No. shares of common stock outstanding
= ÷ =

³ Closing price as at the filing date of Micron Technology Inc. Annual Report.

⁴ 2023 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =

⁵ Click competitor name to see calculations.

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Micron Technology Inc., historical P/S calculation, comparison to benchmarks

		Aug 31, 2023	Sep 1, 2022	Sep 2, 2021	Sep 3, 2020	Aug 29, 2019	Aug 30, 2018
	No. shares of common stock outstanding¹
	Selected Financial Data (US$)
	Revenue (in millions)
	Sales per share²
	Share price^1, 3
	Valuation Ratio
	P/S ratio⁴
	Benchmarks
	P/S Ratio, Competitors⁵
	Advanced Micro Devices Inc.
	Analog Devices Inc.
	Applied Materials Inc.
	Broadcom Inc.
	Intel Corp.
	KLA Corp.
	Lam Research Corp.
	NVIDIA Corp.
	ON Semiconductor Corp.
	Qualcomm Inc.
	Texas Instruments Inc.
	P/S Ratio, Sector
	Semiconductors & Semiconductor Equipment
	P/S Ratio, Industry
	Information Technology

Based on: 10-K (reporting date: 2023-08-31), 10-K (reporting date: 2022-09-01), 10-K (reporting date: 2021-09-02), 10-K (reporting date: 2020-09-03), 10-K (reporting date: 2019-08-29), 10-K (reporting date: 2018-08-30).

¹ Data adjusted for splits and stock dividends.

² 2023 Calculation
Sales per share = Revenue ÷ No. shares of common stock outstanding
= ÷ =

³ Closing price as at the filing date of Micron Technology Inc. Annual Report.

⁴ 2023 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =

⁵ Click competitor name to see calculations.

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Valuation ratio	Description	The company
P/S ratio	An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative.	Micron Technology Inc. P/S ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Micron Technology Inc., historical P/BV calculation, comparison to benchmarks

		Aug 31, 2023	Sep 1, 2022	Sep 2, 2021	Sep 3, 2020	Aug 29, 2019	Aug 30, 2018
	No. shares of common stock outstanding¹
	Selected Financial Data (US$)
	Total Micron shareholders’ equity (in millions)
	Book value per share (BVPS)²
	Share price^1, 3
	Valuation Ratio
	P/BV ratio⁴
	Benchmarks
	P/BV Ratio, Competitors⁵
	Advanced Micro Devices Inc.
	Analog Devices Inc.
	Applied Materials Inc.
	Broadcom Inc.
	Intel Corp.
	KLA Corp.
	Lam Research Corp.
	NVIDIA Corp.
	ON Semiconductor Corp.
	Qualcomm Inc.
	Texas Instruments Inc.
	P/BV Ratio, Sector
	Semiconductors & Semiconductor Equipment
	P/BV Ratio, Industry
	Information Technology

Based on: 10-K (reporting date: 2023-08-31), 10-K (reporting date: 2022-09-01), 10-K (reporting date: 2021-09-02), 10-K (reporting date: 2020-09-03), 10-K (reporting date: 2019-08-29), 10-K (reporting date: 2018-08-30).

¹ Data adjusted for splits and stock dividends.

² 2023 Calculation
BVPS = Total Micron shareholders’ equity ÷ No. shares of common stock outstanding
= ÷ =

³ Closing price as at the filing date of Micron Technology Inc. Annual Report.

⁴ 2023 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =

⁵ Click competitor name to see calculations.

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Valuation ratio	Description	The company
P/BV ratio	The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return.	Micron Technology Inc. P/BV ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.

	Micron Technology Inc.	Other companies (not purchased previously)
Financial Statements
Common-Size Financial Statements
Analysis of Financial Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis of Components of Financial Statements
Financial Reporting Quality
Stock Price Trends

	All companies
Financial Statements
Common-Size Financial Statements
Analysis of Financial Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis of Components of Financial Statements
Financial Reporting Quality
Stock Price Trends

Micron Technology Inc. (NASDAQ:MU)

Common Stock Valuation Ratios (Price Multiples)

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Current Valuation Ratios

Historical Valuation Ratios (Summary)

Price to Earnings (P/E)

Price to Operating Profit (P/OP)

Price to Sales (P/S)

Price to Book Value (P/BV)