Micron Technology, Inc. FY 2025 10-K, explained in plain English
Key financials — as reported
| Total revenue | $37.4B |
| Gross margin | 39.8% |
| Operating income | $9.8B |
| Net income | $8.5B |
| Diluted EPS | $7.59 |
| Cash & equivalents | $9.6B |
| Total assets | $82.8B |
| Long-term debt | $11.5B |
Key takeaway
Micron posted $37.38 billion in fiscal 2025 revenue with a 39.8% gross margin and $8.54 billion net income, signaling a strong upcycle in memory pricing.
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Beneath the surface
Despite $11.53 billion in headlined long-term debt, total debt and capital lease obligations are $14.58 billion, while cash plus short and long-term investments (665M+9.64B+1.629B) total about $11.9 billion, leaving Micron close to net-debt neutral rather than net-cash rich as the headline debt figure alone might suggest.
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This is the free preview. The full analysis explains every line item above and includes 7 more findings — plus insider trades, activist stakes, and 8-K events for MU.
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