Micron Technology, Inc. (MU) P/E Ratio History
Historical price-to-earnings valuation from 1990 to 2026
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Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of February 28, 2026, Micron Technology, Inc. (MU) trades at a price-to-earnings ratio of 54.3x, with a stock price of $412.37 and trailing twelve-month earnings per share of $10.46.
The current P/E is 112% above its 5-year average of 25.7x. Over the past five years, MU's P/E has ranged from a low of 7.4x to a high of 140.5x, placing the current valuation at the 95th percentile of its historical range.
Compared to the Technology sector median P/E of 25.2x, MU trades at a 115% premium to its sector peers. The sector includes 345 companies with P/E ratios ranging from 0.0x to 199.1x.
The PEG ratio of 2.07 (P/E divided by 984% EPS growth) suggests the stock may be expensive relative to its earnings growth. Peter Lynch popularized the rule that a PEG below 1.0 indicates an attractive entry point.
Relative to the broader market, MU commands a significant premium over the S&P 500 median P/E of 26.2x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our MU DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
Peer Comparison
P/E metrics vs. Memory and Storage Semiconductors peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
MUMicron Technology, Inc. | $463B | 54.3 | 2.07 | +984%Best |
SIMOSilicon Motion Technology Corporation | $4B | 8.9Lowest | 0.20Best | +38% |
MRAMEverspin Technologies, Inc. | $238M | 306.8 | - | -92% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
Historical P/E Data
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q1 | $230.26 | $10.52 | 21.9x | -47% | |
| FY2025 Q4 | $122.00 | $7.59 | 16.1x | -61% | |
| FY2025 Q3 | $96.80 | $5.55 | 17.4x | -58% | |
| FY2025 Q2 | $91.82 | $4.17 | 22.0x | -47% | |
| FY2025 Q1 | $98.20 | $3.47 | 28.3x | -31% | |
| FY2024 Q4 | $95.57 | $0.68 | 140.5x | +240% | |
| FY2023 Q2 | $56.43 | $1.39 | 40.6x | -2% | |
| FY2023 Q1 | $55.49 | $5.52 | 10.1x | -76% | |
| FY2022 Q4 | $57.31 | $7.73 | 7.4x | -82% | |
| FY2022 Q3 | $75.37 | $8.77 | 8.6x | -79% | |
| FY2022 Q2 | $89.18 | $7.95 | 11.2x | -73% | |
| FY2022 Q1 | $82.88 | $6.48 | 12.8x | -69% |
Average P/E for displayed period: 41.3x
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Start ComparisonFrequently Asked Questions
Is MU stock overvalued or undervalued?
MU trades at 54.3x P/E, above its 5-year average of 25.7x. The 95th percentile ranking indicates a premium to historical valuation.
How does MU's valuation compare to peers?
Micron Technology, Inc. P/E of 54.3x compares to sector median of 25.2x. The premium reflects expected growth above peers.
What is MU's PEG ratio?
MU PEG ratio is 2.07. Above 2.0 indicates premium valuation relative to growth rate. Historical P/E data spans 1990-2026.