Micron Technology (MU) FY2025 10-K Annual Report
Micron Technology (MU) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Oct 3, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Micron Technology FY2025 10-K Analysis
Business Overview
- • Core business model: Manufacturer of DRAM and NAND memory products with focus on cloud, data center, mobile, and automotive markets
- • New emphasis: Shifted DRAM supply toward AI-driven data center and hyperscale cloud markets, emphasizing high-bandwidth memory (HBM) in 2025
- • Strategic shift: Pivoted portfolio mix to higher-growth segments like AI and data center, reducing lower-margin mobile/client supply due to constrained capacity
- • Quantitative highlight: Revenue grew 49% to $37.4B in 2025; CMBU segment revenue surged 257% driven by AI demand and HBM products
- • Noteworthy fact: Achieved 40% consolidated gross margin in 2025 versus 22% in 2024, reflecting robust pricing, product mix, and cost reductions
Management Discussion & Analysis
- • Revenue and profitability data not provided in excerpt
- • No segment performance figures disclosed
- • No cash flow, capital allocation, or dividend details offered
- • No management outlook, guidance, or emerging risks mentioned
Risk Factors
- • Currency exchange risk with estimated loss $572 million for 10% adverse rate change against U.S. dollar as of August 28, 2025
- • Manufacturing cost exposure to currency fluctuations in Canadian dollar, Chinese yuan, euro, Japanese yen, and others affecting capital expenditures
- • Currency forward contracts hedging strategy with maturities up to two years relies on timely and accurate exposure measurement
- • Losses from currency volatility increased from $480 million in fiscal 2024 to $572 million in fiscal 2025, indicating rising foreign exchange risk
Micron Technology FY2025 Key Financial MetricsXBRL
Revenue
$37.4B
▲ +48.9% YoY
Net Income
$8.5B
▲ +997.6% YoY
Gross Margin
39.8%
▲ +1744bp YoY
Operating Margin
26.1%
▲ +2095bp YoY
Net Margin
22.8%
▲ +1975bp YoY
ROE
15.8%
▲ +1404bp YoY
Total Assets
$82.8B
▲ +19.3% YoY
EPS (Diluted)
$7.59
▲ +984.3% YoY
Operating Cash Flow
$17.5B
▲ +106.0% YoY
Source: XBRL data from Micron Technology FY2025 10-K filing on SEC EDGAR. All figures in USD.
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