Micron Technology, Inc. (MU) P/E Ratio History
ExpensiveTrading at 149.4x vs 5Y avg 25.9x · 100th percentile · Material premium to history · Data 1990–2026
Loading P/E history...
P/E Ratio Analysis
As of June 22, 2026, Micron Technology, Inc. (MU) trades at a price-to-earnings ratio of 149.4x, with a stock price of $1133.99 and trailing twelve-month earnings per share of $21.15.
The current P/E is 477% above its 5-year average of 25.9x. 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 100th percentile of its historical range.
Compared to the Technology sector median P/E of 29.0x, MU trades at a 415% premium to its sector peers. The sector includes 352 companies with P/E ratios ranging from 0.0x to 187.7x.
The PEG ratio of 5.70 (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 24.4x. 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.
MU Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
MU P/E vs Peers
Memory and Storage Semiconductors peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $253B | 145.7 | - | +296% | |
| $233B | 158.1 | 12.85 | +328%Best | |
| $2B | 17.7Lowest | 0.55 | +229% | |
| $8B | 21.1 | 1.26 | +31% | |
| $5.1T | 43.0 | 0.45Best | +67% | |
| $876B | 202.8 | 39.25 | +165% | |
| $490B | 71.3 | 4.15 | +1% | |
| $486B | 93.7 | 4.18 | +43% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
MU Historical P/E Data (1990–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q2 | - | $415.56 | $21.19 | 19.6x | -52% |
| 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 | -46% |
| FY2025 Q1 | - | $98.20 | $3.47 | 28.3x | -31% |
| FY2024 Q4 | - | $95.57 | $0.68 | 140.5x | +242% |
| FY2023 Q2 | - | $56.43 | $1.39 | 40.6x | -1% |
| 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% |
| FY2021 Q4 | - | $73.99 | $5.15 | 14.4x | -65% |
| FY2021 Q3 | - | $82.03 | $3.63 | 22.6x | -45% |
| FY2021 Q2 | - | $84.33 | $2.82 | 29.9x | -27% |
| FY2021 Q1 | - | $69.90 | $2.65 | 26.4x | -36% |
| FY2020 Q4 | - | $46.33 | $2.37 | 19.5x | -52% |
| FY2020 Q3 | - | $46.47 | $1.99 | 23.4x | -43% |
| FY2020 Q2 | - | $50.58 | $2.02 | 25.0x | -39% |
| FY2020 Q1 | - | $48.16 | $3.08 | 15.6x | -62% |
| FY2019 Q4 | - | $44.67 | $5.46 | 8.2x | -80% |
| FY2019 Q3 | - | $33.32 | $8.53 | 3.9x | -90% |
| FY2019 Q2 | - | $40.88 | $10.89 | 3.8x | -91% |
| FY2019 Q1 | - | $37.91 | $12.14 | 3.1x | -92% |
| FY2018 Q4 | - | $52.76 | $11.52 | 4.6x | -89% |
| FY2018 Q3 | - | $57.59 | $9.95 | 5.8x | -86% |
| FY2018 Q2 | - | $47.62 | $8.25 | 5.8x | -86% |
| FY2018 Q1 | - | $42.39 | $6.35 | 6.7x | -84% |
| FY2017 Q4 | - | $31.97 | $4.32 | 7.4x | -82% |
| FY2017 Q3 | - | $30.76 | $2.17 | 14.2x | -65% |
| FY2017 Q2 | - | $24.70 | $0.56 | 44.1x | +7% |
| FY2016 Q3 | - | $13.11 | $0.31 | 42.8x | +4% |
| FY2016 Q2 | - | $11.79 | $0.94 | 12.6x | -69% |
| FY2016 Q1 | - | $15.61 | $1.81 | 8.6x | -79% |
| FY2015 Q4 | - | $16.59 | $2.46 | 6.7x | -84% |
| FY2015 Q3 | - | $26.99 | $3.00 | 9.0x | -78% |
| FY2015 Q2 | - | $29.28 | $3.26 | 9.0x | -78% |
| FY2015 Q1 | - | $36.07 | $3.09 | 11.7x | -72% |
| FY2014 Q4 | - | $32.81 | $2.55 | 12.9x | -69% |
| FY2014 Q3 | - | $28.58 | $3.10 | 9.2x | -78% |
| FY2014 Q2 | - | $24.19 | $2.46 | 9.8x | -76% |
| FY2014 Q1 | - | $21.17 | $1.57 | 13.5x | -67% |
| FY2013 Q4 | - | $13.57 | $1.00 | 13.6x | -67% |
| FY2011 Q4 | - | $5.74 | $0.15 | 38.3x | -7% |
| FY2011 Q3 | - | $9.41 | $0.59 | 15.9x | -61% |
| FY2011 Q2 | - | $11.57 | $1.44 | 8.0x | -80% |
| FY2011 Q1 | - | $7.91 | $1.76 | 4.5x | -89% |
| FY2010 Q4 | - | $6.83 | $1.84 | 3.7x | -91% |
| FY2010 Q3 | - | $9.24 | $1.44 | 6.4x | -84% |
| FY2010 Q2 | - | $9.41 | $0.16 | 58.8x | +43% |
| FY2007 Q2 | - | $11.86 | $0.29 | 40.8x | -1% |
| FY2007 Q1 | - | $14.60 | $0.63 | 23.2x | -43% |
| FY2006 Q4 | - | $17.28 | $0.57 | 30.4x | -26% |
| FY2006 Q3 | - | $16.87 | $0.55 | 30.9x | -25% |
| FY2006 Q2 | - | $15.85 | $0.23 | 70.0x | +71% |
| FY2006 Q1 | - | $14.49 | $0.13 | 114.7x | +179% |
| FY2005 Q4 | - | $11.62 | $0.27 | 43.6x | +6% |
| FY2005 Q3 | - | $11.05 | $0.33 | 33.5x | -18% |
| FY2005 Q2 | - | $11.19 | $0.66 | 17.0x | -59% |
| FY2005 Q1 | - | $11.40 | $0.45 | 25.6x | -38% |
| FY2004 Q4 | - | $11.65 | $0.22 | 53.5x | +30% |
| FY2001 Q3 | - | $37.50 | $1.09 | 34.4x | -16% |
| FY2001 Q2 | - | $35.90 | $2.10 | 17.1x | -58% |
| FY2001 Q1 | - | $31.50 | $2.54 | 12.4x | -70% |
| FY2000 Q4 | - | $81.75 | $2.56 | 31.9x | -22% |
| FY2000 Q3 | Jul 31 2000 | $81.50 | $1.34 | 60.9x | +48% |
| FY2000 Q2 | - | $48.75 | $0.81 | 60.5x | +47% |
| FY2000 Q1 | - | $32.38 | $0.56 | 58.3x | +42% |
| FY1998 Q2 | - | $17.53 | $0.29 | 60.4x | +47% |
| FY1998 Q1 | - | $12.59 | $0.73 | 17.2x | -58% |
| FY1997 Q4 | - | $22.66 | $0.76 | 29.8x | -27% |
| FY1997 Q3 | - | $21.31 | $0.64 | 33.1x | -19% |
| FY1997 Q2 | - | $18.44 | $0.56 | 32.7x | -20% |
| FY1997 Q1 | - | $16.63 | $0.67 | 24.7x | -40% |
| FY1996 Q4 | - | $11.38 | $1.38 | 8.2x | -80% |
| FY1996 Q3 | - | $16.25 | $1.99 | 8.2x | -80% |
| FY1996 Q2 | - | $16.00 | $2.36 | 6.8x | -83% |
| FY1996 Q1 | - | $27.13 | $2.35 | 11.5x | -72% |
| FY1995 Q4 | - | $38.44 | $1.97 | 19.5x | -52% |
| FY1995 Q3 | - | $23.19 | $1.65 | 14.1x | -66% |
| FY1995 Q2 | - | $16.47 | $1.39 | 11.8x | -71% |
| FY1995 Q1 | - | $10.28 | $1.17 | 8.8x | -79% |
| FY1994 Q4 | - | $9.88 | $0.96 | 10.3x | -75% |
| FY1994 Q3 | - | $8.75 | $0.80 | 10.9x | -73% |
| FY1994 Q2 | - | $7.61 | $0.63 | 12.1x | -71% |
| FY1994 Q1 | - | $4.63 | $0.45 | 10.3x | -75% |
| FY1993 Q4 | - | $5.34 | $0.29 | 18.4x | -55% |
| FY1993 Q3 | May 31 1993 | $2.98 | $0.13 | 23.4x | -43% |
| FY1993 Q2 | Feb 28 1993 | $2.45 | $0.06 | 42.5x | +4% |
| FY1993 Q1 | Nov 30 1992 | $1.88 | $0.04 | 50.0x | +22% |
| FY1992 Q4 | Aug 31 1992 | $1.53 | $0.04 | 40.7x | -1% |
| FY1992 Q3 | May 31 1992 | $1.49 | $0.06 | 27.1x | -34% |
| FY1992 Q2 | Feb 29 1992 | $1.95 | $0.07 | 26.0x | -37% |
| FY1992 Q1 | Nov 30 1991 | $1.33 | $0.06 | 23.0x | -44% |
| FY1991 Q4 | Aug 31 1991 | $1.41 | $0.02 | 78.8x | +92% |
| FY1991 Q3 | May 31 1991 | $1.66 | $0.00 | 1660.0x | +3943% |
| FY1990 Q4 | Aug 31 1990 | $0.90 | $0.02 | 56.3x | +37% |
| FY1990 Q3 | - | $1.35 | $0.05 | 25.8x | -37% |
| FY1990 Q2 | Feb 28 1990 | $1.21 | $0.13 | 9.1x | -78% |
Average P/E for displayed period: 41.1x
Full Stock Analysis
Deep dive into MU consensus models and risk factors.
Should I Buy MU?
Wall Street verdict, signals, and target summaries.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
36+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
MU — Frequently Asked Questions
Quick answers to the most common questions about buying MU stock.
What is MU's P/E ratio?
Micron Technology, Inc. (MU) trailing twelve-month P/E ratio is 149.4x, based on TTM diluted EPS of $21.15. The 5-year average P/E is 25.9x and the historical range spans 7.4x to 140.5x.
Is MU stock overvalued or undervalued?
MU trades at 149.4x P/E, above its 5-year average of 25.9x. The 100th percentile ranking within the 7.4x–140.5x historical range indicates a premium to historical valuation.
Is MU stock expensive?
Yes, MU is expensive relative to its own history. The current P/E of 149.4x is above the 5-year average of 25.9x and also above the Technology sector median of 29.0x. The stock sits at the 100th percentile of its 5-year valuation range.
What is MU's historical P/E range?
Over the past 5 years, MU's P/E ratio has ranged from 7.4x to 140.5x, with a median of 21.9x and an average of 25.9x. The current P/E of 149.4x places the stock at the 100th percentile of this range. Full historical data spans 1990–2026.
How does MU's P/E compare to the S&P 500?
MU trades at 149.4x P/E versus the S&P 500 median of 24.4x. The 512% premium to the market typically reflects higher expected earnings growth or quality.
How does MU's valuation compare to Technology peers?
Micron Technology, Inc. P/E of 149.4x compares to the Technology sector median of 29.0x. The premium reflects expected growth above peers or stronger fundamentals. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is MU's PEG ratio?
MU PEG ratio is 5.70, based on a P/E of 149.4x and EPS growth of 984.3%. A PEG above 2.0 indicates a premium valuation relative to earnings growth — typically considered expensive.
What is MU's earnings yield?
MU earnings yield is 0.67%, the inverse of its 149.4x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.