Filing Flows › Micron Technology (MU) › Q4 FY26 › vs Q3 FY26
Micron Technology (MU) Q4 FY26 vs Q3 FY26 (quarter over quarter)
Micron Technology's revenue rose $12.8B (+31%) from $41.5B in Q3 FY26 to $54.2B in Q4 FY26. The biggest changes: DRAM +$8.4B (+27%); NAND +$4.2B (+42%); Other (primarily NOR) +$171M (+92%). Gross margin 86.8% against 84.6% (+2.2 pts).
Micron Technology, Q4 FY26: revenue $54.2B (+379% year over year), operating margin 80.7%, net earnings $37.7B, operating cash flow $44.0B. The chart draws each line against Q3 FY26, the increases inside each band.
Margins
| Q4 FY26 | Q3 FY26 | Change | |
|---|---|---|---|
| Gross margin | 86.8% | 84.6% | +2.2 pts |
| Operating margin | 80.7% | 80.4% | +0.3 pts |
| Net margin | 69.5% | 68.1% | +1.4 pts |
| Free cash flow margin | 60.6% | 42.4% | +18.2 pts |
Every line
| Line | Q4 FY26 | Q3 FY26 | Change | % |
|---|---|---|---|---|
| DRAM | $39.8B | $31.3B | $8.4B | +27% |
| NAND | $14.1B | $9.9B | $4.2B | +42% |
| Other (primarily NOR) | $356M | $185M | $171M | +92% |
| Revenue | $54.2B | $41.5B | $12.8B | +31% |
| Gross profit | $47.0B | $35.1B | $12.0B | +34% |
| Cost of revenue | $7.2B | $6.4B | $782M | +12% |
| Other income, net | $487M | −$106M | $593M | — |
| Operating profit | $43.8B | $33.3B | $10.4B | +31% |
| Operating expenses | $3.3B | $1.7B | $1.6B | +90% |
| Pre-tax earnings | $44.2B | $33.2B | $11.0B | +33% |
| Research & development | $1.9B | $1.3B | $597M | +45% |
| SG&A | $859M | $407M | $452M | +111% |
| Other operating costs | $524M | $15.0M | $509M | 35× |
| Net earnings | $37.7B | $28.2B | $9.5B | +33% |
| Income tax | $6.6B | $5.0B | $1.6B | +32% |
| Depreciation & amortization | $2.6B | $2.4B | $277M | +12% |
| Share-based compensation | $379M | $355M | $24.0M | +7% |
| Working capital & other | $3.3B | −$5.6B | $8.8B | — |
| Operating cash flow | $44.0B | $25.4B | $18.6B | +73% |
| Free cash flow (OCF − capex) | $32.9B | $17.6B | $15.3B | +87% |
| Capital expenditures | $11.1B | $7.8B | $3.3B | +42% |
Questions
How much did Micron Technology's revenue grow quarter over quarter in Q4 FY26?
Micron Technology's revenue rose $12.8B (+31%) from $41.5B in Q3 FY26 to $54.2B in Q4 FY26.
What drove Micron Technology's revenue change in Q4 FY26?
DRAM +$8.4B (+27%); NAND +$4.2B (+42%); Other (primarily NOR) +$171M (+92%).