MICRON TECHNOLOGY INC（MU）の決算・業績分析
MICRON TECHNOLOGY INCの2025年有価証券報告書をAI分析。売上高$37.4B(+48.9%)。営業利益$9.8B。Information Technology。
目次
MICRON TECHNOLOGY INCの2025年度 業績サマリー
MICRON TECHNOLOGY INC（証券コード: MU）の2025年度決算・業績分析。売上高は$37.4B（前年比+48.9%）。営業利益は$9.8B（前年比+649.2%）。純利益は$8.5B（前年比+997.6%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
MICRON TECHNOLOGY INCの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Micron Technology Inc. (MU) achieved $30.8B in FY2024 revenue (+11.0% YoY) and $8.7B net income (+48.2% YoY), driven by high-performance memory technologies (XBRL).
- Operating income surged to $9.7B (+54.4% YoY), with gross margin at 45.2% and net margin at 28.2% (XBRL).
- Strong financial health: 68.4% equity ratio, 0.46x debt-to-equity, and net debt of $2.8B (0.2x EBITDA) (XBRL).
- Capital expenditures of $12.1B (39.2% of revenue) supported by $8.6B in cash reserves (XBRL).
MICRON TECHNOLOGY INCの売上高変化の要因
- •FY2024 revenue of $30.8B reflects a 11.0% YoY increase, with DRAM contributing $17.6B and NAND used in SSDs and mobile devices (XBRL). Historical time series shows revenue growth from $21.4B in FY2022 to $30.8B in FY2024, though 5-year CAGR is -12.6% (XBRL). Growth drivers include demand for high-performance memory technologies and strong execution in data center and client PC markets (10-K).
MICRON TECHNOLOGY INCの営業利益変化の要因
- •Gross profit of $13.9B (45.2% margin) and operating income of $9.7B (31.5% margin) reflect improved cost efficiency and product mix (XBRL). Net income surged to $8.7B (+48.2% YoY), with EBITDA at $16.8B (54.7% of revenue). Operating income increased from $6.3B in FY2023 to $9.7B in FY2024 (+54.4% YoY) (XBRL).
MICRON TECHNOLOGY INCの事業リスクと対応
Volatility in average selling prices (ASPs) for DRAM (±low-teen to -high-40% annually) and NAND (±low-30 to -low-50% annually) (10-K).
Adverse effects on gross margins from manufacturing costs and product mix (10-K).
Geopolitical risks in international operations, including compliance with tariffs and trade restrictions (10-K).
Highly competitive industry with potential impacts on pricing and market share (10-K).
Challenges in developing new technologies and realizing returns from capacity expansions (10-K).
MICRON TECHNOLOGY INCの事業内容
Micron Technology Inc. (MU) is a global leader in memory and storage solutions, generating revenue through the sale of DRAM, NAND, and NOR products to markets including data centers, client PCs, and automotive (10-K). Key products include DRAM (DDR, HBM, GDDR, LPDDR), NAND (managed NAND, low-density NAND), and NOR memory, with DRAM revenue reaching $17.6B in FY2024 (XBRL). The company leverages advanced manufacturing (e.g., 1α/1β DRAM nodes, EUV lithography) and R&D investments ($3.1B in FY2024) to maintain competitive advantages (10-K).
MICRON TECHNOLOGY INCのAI業績分析レポート（2024年度）
Micron Technology Inc. (MU) FY2024 Annual Report Analysis
Highlights
Business Overview
Micron Technology Inc. (MU) is a global leader in memory and storage solutions, generating revenue through DRAM, NAND, and NOR products for data centers, client PCs, and automotive markets (10-K). Key products include DRAM (DDR, HBM, GDDR, LPDDR), NAND (managed NAND, low-density NAND), and NOR memory, with DRAM revenue at $17.6B in FY2024 (XBRL). Competitive advantages include R&D investment ($3.1B in FY2024) and advanced manufacturing (e.g., 1α/1β DRAM nodes) (10-K).
Revenue Analysis
FY2024 revenue of $30.8B reflects a 11.0% YoY increase, with DRAM contributing $17.6B and NAND used in SSDs and mobile devices (XBRL). Historical time series shows revenue growth from $21.4B in FY2022 to $30.8B in FY2024, though 5-year CAGR is -12.6% (XBRL). Growth drivers include demand for high-performance memory technologies and strong execution in data center and client PC markets (10-K).
Profitability Analysis
Gross profit of $13.9B (45.2% margin) and operating income of $9.7B (31.5% margin) reflect improved cost efficiency and product mix (XBRL). Net income surged to $8.7B (+48.2% YoY), with EBITDA at $16.8B (54.7% of revenue). Operating income increased from $6.3B in FY2023 to $9.7B in FY2024 (+54.4% YoY) (XBRL).
Balance Sheet Analysis
Total assets of $64.3B and total equity of $43.9B (68.4% equity ratio) highlight strong liquidity and capital structure (XBRL). Long-term debt is $11.3B, with net debt of $2.8B (0.2x EBITDA). Current ratio of 4.46x underscores robust short-term liquidity (XBRL).
Cash Flow Analysis
Operating cash flow of $15.2B supported $3.1B free cash flow (FCF) after $12.1B in capital expenditures (XBRL). Financing activities included $461M in dividends and $2.4B in share repurchases (XBRL). CapEx intensity of 39.2% (CapEx/$30.8B revenue) reflects ongoing investment in manufacturing capacity (XBRL).
Working Capital Analysis
Receivables days: 24 days; Inventory days: 182 days; Asset turnover: 0.48x (XBRL). Payables days data unavailable, preventing calculation of cash conversion cycle (CCC).
Risks
Outlook
N/A (10-K does not provide management guidance or forward-looking trends).
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