MU · 8-K · 20260930PR000018
Capital Expenditures and Free Cash Flow
MICRON TECHNOLOGY INC · 2026-09-30 · Importance 69 · Surprise 64 · In source text
Micron invested $10.774 billion in net capital expenditures during fiscal Q4 2026, compared with $7.084 billion in the prior quarter and $4.927 billion in the prior-year quarter. Fiscal 2026 net capital expenditures were $27.367 billion, nearly double the $13.804 billion spent in fiscal 2025. Adjusted free cash flow was $33.199 billion in fiscal Q4 2026 and $62.308 billion for fiscal 2026, compared with $803 million and $3.721 billion in the respective prior-year periods. Fiscal 2026 property, plant and equipment expenditures were $30.712 billion, with $3.316 billion of government incentive proceeds.
Key facts
- Investments in capital expenditures, net were $10.77 billion for the fourth quarter of 2026 and $27.37 billion for the full year of 2026. source
- Adjusted free cash flow was $33.20 billion for the fourth quarter of 2026 and $62.31 billion for the full year of 2026. source
- For the year ended September 3, 2026, expenditures for property, plant, and equipment: $30,712 million; depreciation and amortization: $9,503 million; stock-based compensation: $1,333 million. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | positive | realized | +46.5% | Adjusted free cash flow was $33.20 billion for the fourth quarter of 2026 and $62.31 billion for the full year of 2026. |
| operating_income | negative | realized | -22.9% | For the year ended September 3, 2026, expenditures for property, plant, and equipment: $30,712 million; depreciation and amortization:… |
| cash | negative | realized | -22.9% | For the year ended September 3, 2026, expenditures for property, plant, and equipment: $30,712 million; depreciation and amortization:… |
| cash | negative | realized | -20.4% | Investments in capital expenditures, net were $10.77 billion for the fourth quarter of 2026 and $27.37 billion for the full year of 2026. |
| assets | positive | realized | +20.4% | Investments in capital expenditures, net were $10.77 billion for the fourth quarter of 2026 and $27.37 billion for the full year of 2026. |
| operating_income | negative | realized | -3.2% | For the year ended September 3, 2026, expenditures for property, plant, and equipment: $30,712 million; depreciation and amortization:… |