Micron

Financial disclosures

Q4 FY2026 / full fiscal-year close (ended Sept 3, 2026) — reported Sept 30, 2026 · As of Oct 28, 2026

Micron's fiscal fourth quarter capped a fiscal year that shattered the company's own records, as the AI memory supercycle — driven overwhelmingly by HBM demand for AI accelerators — pushed results far beyond anything in its history. Quarterly revenue hit $54.23 billion, up roughly 379% from $11.32 billion a year earlier, and full fiscal-year 2026 revenue was $133.19 billion versus $37.38 billion in FY2025. GAAP net income for the quarter was $37.70 billion (diluted EPS $32.87), versus $3.20 billion a year earlier; full-year net income was $84.97 billion.

Micron no longer breaks out DRAM and NAND as separate disclosed line items, reporting instead by end-market business unit, but third-party analysis estimates DRAM revenue at roughly $39.77 billion for the quarter (up ~4.4x YoY) against NAND revenue of about $14.1 billion (up ~6.2x). HBM — not separately disclosed by Micron but estimated by analysts — is believed to have driven roughly $14.3 billion of the quarter, up about 7.6x year over year. CEO Sanjay Mehrotra said Micron has "completed agreements for the vast majority of our calendar 2027 HBM bit supply," with a custom HBM4E product being developed jointly with Nvidia.

Management disclosed $32 billion in customer prepayments, 26 supplier agreements covering about 35% of revenue through fiscal 2030, and $150 billion in remaining performance obligations — an unusually locked-in, multi-year demand picture. For Q1 FY2027, Micron guided to revenue of $61.5 billion (±$1.5B) and GAAP diluted EPS of $37.84 (±$1.00), implying continued sequential growth. Given how extraordinary these swings are, readers should treat the DRAM/NAND/HBM split above as analyst estimates, not official Micron-disclosed figures.

Key figures

Source: SEC 8-K, Exhibit 99.1 (Micron earnings release)