Micron
Micron returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q3 | May 28, 2026 | 73.57% | 64.79% | 174.96% | 66.64% | 47.5% | 63 pp |
| FY 2026 Q2 | Feb 26, 2026 | 39.01% | 36.87% | 147.07% | 39.82% | 27.62% | 28.4 pp |
| FY 2026 Q1 | Nov 27, 2025 | 20.99% | 20.14% | 116.75% | 22.55% | 15.13% | 10.4 pp |
| FY 2025 Q4 | Aug 28, 2025 | 15.61% | 14.86% | 102.49% | 17.2% | 11.22% | 5 pp |
| FY 2025 Q3 | May 29, 2025 | 11.89% | 11.96% | — | 13.11% | 8.61% | 1.3 pp |
| FY 2025 Q2 | Feb 27, 2025 | 8.98% | 9.93% | — | 10.1% | 6.73% | -1.6 pp |
| FY 2025 Q1 | Nov 28, 2024 | 7.7% | 7.66% | — | 8.66% | 5.74% | -2.9 pp |
| FY 2024 Q4 | Aug 29, 2024 | 1.65% | 2.18% | — | 1.74% | 1.16% | -8.9 pp |
| FY 2024 Q3 | May 30, 2024 | — | -2.82% | — | -3.43% | -2.33% | — |
| FY 2024 Q2 | Feb 29, 2024 | — | -6.91% | — | -8.27% | -5.7% | — |
| FY 2024 Q1 | Nov 30, 2023 | — | -11.18% | — | -14.91% | -10.44% | — |
| FY 2023 Q4 | Aug 31, 2023 | — | -9.72% | — | -12.41% | -8.94% | — |
| FY 2023 Q3 | Jun 1, 2023 | — | -4.63% | — | -6.15% | -4.45% | — |
| FY 2023 Q2 | Mar 2, 2023 | 3.26% | 3.41% | -193.33% | 3.39% | 2.47% | -7.3 pp |
| FY 2023 Q1 | Dec 1, 2022 | 13.13% | 11.82% | -22.43% | 12.99% | 9.58% | 2.5 pp |
| FY 2022 Q4 | Sep 1, 2022 | 19.24% | 17.45% | 52.04% | 18.51% | 13.88% | 8.6 pp |
| FY 2022 Q3 | Jun 2, 2022 | 22.78% | 20.48% | 100.08% | 21.66% | 16.36% | 12.2 pp |
| FY 2022 Q2 | Mar 3, 2022 | 21.13% | 18.83% | 117.09% | 20.39% | 15.32% | 10.5 pp |
| FY 2022 Q1 | Dec 2, 2021 | 17.63% | 15.67% | 119.16% | 17.16% | 12.81% | 7 pp |
| FY 2021 Q4 | Sep 2, 2021 | 14.54% | 12.63% | 64.16% | 14.13% | 10.42% | 3.9 pp |
| FY 2021 Q3 | Jun 3, 2021 | 10.79% | 9.31% | 38.13% | 10.31% | 7.65% | 0.2 pp |
| FY 2021 Q2 | Mar 4, 2021 | 8.57% | 7.73% | 12.07% | 8.23% | 6.16% | -2 pp |
| FY 2021 Q1 | Dec 3, 2020 | 8.1% | 7.34% | -14.44% | 7.85% | 5.8% | -2.5 pp |
| FY 2020 Q4 | Sep 3, 2020 | 7.41% | 6.71% | -154.35% | 7.18% | 5.24% | -3.2 pp |
| FY 2020 Q3 | May 28, 2020 | 6.32% | 5.76% | -2,746.39% | 6.18% | 4.6% | -4.3 pp |
| FY 2020 Q2 | Feb 27, 2020 | 7.37% | 6.24% | -71,722.61% | 6.42% | 4.73% | -3.2 pp |
| FY 2020 Q1 | Nov 28, 2019 | 11.04% | 10% | -1,488.68% | 9.98% | 7.45% | 0.4 pp |
| FY 2019 Q4 | Aug 29, 2019 | 19.92% | 18.41% | -195.62% | 18.52% | 13.68% | 9.3 pp |
| FY 2019 Q3 | May 30, 2019 | 31.64% | 28.89% | -43.68% | 31.5% | 22.87% | 21 pp |
| FY 2019 Q2 | Feb 28, 2019 | 42.18% | 37.33% | 35.26% | 43.34% | 29.43% | 31.6 pp |
| FY 2019 Q1 | Nov 29, 2018 | 49.67% | 44.09% | 84.12% | 52.31% | 36.07% | 39.1 pp |
| FY 2018 Q4 | Aug 30, 2018 | 52.19% | 44.35% | 156.56% | 55.52% | 35.92% | 41.6 pp |
| FY 2018 Q3 | May 31, 2018 | 47.6% | 40.94% | 181.7% | 54.34% | 32.43% | 37 pp |
| FY 2018 Q2 | Mar 1, 2018 | 41.56% | 35.74% | 232.69% | 50.03% | 27.17% | 31 pp |
| FY 2018 Q1 | Nov 30, 2017 | 37.19% | 31.93% | — | 43.55% | 23.33% | 26.6 pp |
| FY 2017 Q4 | Aug 31, 2017 | 25.97% | 22.27% | — | 33.15% | 16.19% | 15.4 pp |
| FY 2017 Q3 | Jun 1, 2017 | 14.69% | 13.17% | — | 17.99% | 8.47% | 4.1 pp |
| FY 2017 Q2 | Mar 2, 2017 | 5.75% | 5.65% | -0.58% | 5.19% | 2.41% | -4.8 pp |
| FY 2017 Q1 | Dec 1, 2016 | — | 1.38% | — | -2.45% | -1.16% | — |
| FY 2016 Q4 | Sep 1, 2016 | — | 0.78% | — | -2.26% | -1.07% | — |
| FY 2016 Q3 | Jun 2, 2016 | — | 2.91% | — | 2.96% | 1.4% | — |
| FY 2016 Q2 | Mar 3, 2016 | 7.23% | 6.41% | -165.12% | 8.68% | 4.4% | -3.4 pp |
| FY 2016 Q1 | Dec 3, 2015 | 12.61% | 11.15% | -40.5% | 17.53% | 8.96% | 2 pp |
| FY 2015 Q4 | Sep 3, 2015 | 17.44% | 15.81% | -2.92% | 25.13% | 12.43% | 6.8 pp |
| FY 2015 Q3 | Jun 4, 2015 | 22.05% | 18.72% | 19.1% | 31.95% | 15.68% | 11.4 pp |
| FY 2015 Q2 | Mar 5, 2015 | 24.35% | 20.61% | 43.92% | 35.86% | 17.52% | 13.8 pp |
| FY 2015 Q1 | Dec 4, 2014 | 26.02% | 21.68% | 119.36% | 35.32% | 17.43% | 15.4 pp |
| FY 2014 Q4 | Aug 28, 2014 | 21.65% | 18.89% | 317.45% | 30.58% | 14.63% | 11.1 pp |
| FY 2014 Q3 | May 29, 2014 | 21.49% | 17.97% | — | 41.73% | 20.86% | 10.9 pp |
| FY 2014 Q2 | Feb 27, 2014 | 15.41% | 13.1% | — | 34.39% | 16.45% | 4.8 pp |
| FY 2014 Q1 | Nov 28, 2013 | 7.78% | 6.5% | — | 21.85% | 10.77% | -2.8 pp |
| FY 2013 Q4 | Aug 29, 2013 | 2.1% | 1.74% | — | 14.13% | 7.12% | -8.5 pp |
| FY 2013 Q3 | May 30, 2013 | — | -1.43% | — | -10.05% | -5.36% | — |
| FY 2013 Q2 | Feb 28, 2013 | — | -4.29% | — | -14.77% | -8.01% | — |
| FY 2013 Q1 | Nov 29, 2012 | — | -5.75% | — | -14.23% | -7.92% | — |
| FY 2012 Q4 | Aug 30, 2012 | — | -5.07% | — | -12.76% | -7.1% | — |
| FY 2012 Q3 | May 31, 2012 | — | -4.39% | — | -11.27% | -6.4% | — |
| FY 2012 Q2 | Mar 1, 2012 | — | -0.85% | — | -6.43% | -3.71% | — |
| FY 2012 Q1 | Dec 1, 2011 | 0.57% | 2.35% | — | -2.12% | -1.21% | -10 pp |
| FY 2011 Q4 | Sep 1, 2011 | — | — | — | — | — | — |
| FY 2011 Q3 | Jun 2, 2011 | — | — | — | — | — | — |
| FY 2011 Q2 | Mar 3, 2011 | — | — | — | — | — | — |
| FY 2011 Q1 | Dec 2, 2010 | — | — | — | — | — | — |
| FY 2010 Q1 | Dec 3, 2009 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 10.6%, rounded from the Semiconductor benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · MU, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.