Definitive Analysis
Definitive Analysis

Financial Statements

Analysis Mode

Ticker

Industry

Sector

Micron Technology, Inc. (MU)

Company Dividend Discount ModelIndustry: SemiconductorsSector: Technology

Valuation Snapshot

Stable Growth$103.70 - $180.58$136.58
Multi-Stage$80.22 - $87.59$83.84
Blended Fair Value$110.21
Current Price$122.00
Upside-9.66%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS0.00%0.00%0.460.460.450.410.000.000.000.000.000.00
YoY Growth--1.75%1.79%9.33%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.38%0.46%0.59%0.74%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)8,539.00
(-) Cash Dividends Paid (M)522.00
(=) Cash Retained (M)8,017.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1,707.801,067.38640.43
Cash Retained (M)8,017.008,017.008,017.00
(-) Cash Required (M)-1,707.80-1,067.38-640.43
(=) Excess Retained (M)6,309.206,949.637,376.58
(/) Shares Outstanding (M)1,123.751,123.751,123.75
(=) Excess Retained per Share5.616.186.56
LTM Dividend per Share0.460.460.46
(+) Excess Retained per Share5.616.186.56
(=) Adjusted Dividend6.086.657.03
WACC / Discount Rate11.68%11.68%11.68%
Growth Rate5.50%6.50%7.50%
Fair Value$103.70$136.58$180.58
Upside / Downside-15.00%11.95%48.01%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)8,539.009,094.049,685.1510,314.6810,985.1411,699.1712,050.15
Payout Ratio6.11%22.89%39.67%56.45%73.22%90.00%92.50%
Projected Dividends (M)522.002,081.673,841.895,822.158,043.6110,529.2511,146.38

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate11.68%11.68%11.68%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)1,846.391,863.891,881.39
Year 2 PV (M)3,022.503,080.073,138.18
Year 3 PV (M)4,062.704,179.334,298.16
Year 4 PV (M)4,978.445,169.905,366.82
Year 5 PV (M)5,780.306,059.496,349.37
PV of Terminal Value (M)70,461.3073,864.6077,398.16
Equity Value (M)90,151.6394,217.2898,432.09
Shares Outstanding (M)1,123.751,123.751,123.75
Fair Value$80.22$83.84$87.59
Upside / Downside-34.24%-31.28%-28.20%

High-Yield Dividend Screener

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