Using the PEG framework with analyst consensus forward EPS growth of 25.0% plus 0.1% dividend yield, Micron Technology, Inc. has a fair value of $1,387.57 based on NTM EPS (FY2026) of $55.50. The current PEG ratio is 0.12.
PEG < 1 = bargain, 1–1.5 = fair, > 2 = expensive.
Growth above 25% is capped — hypergrowth may not be sustainable long-term.
| EPS Growth RateForward | 59.0% |
| Dividend Yield | +0.1% |
| Adjusted Growth (clamped 8–25%)Clamped | 25.0% |
| Fair P/E | 25.0x |
| NTM EPS (FY2026) | $55.50 |
| Fair Value | $1,387.57 |
| Period | EPS Est. | Growth | Analysts |
|---|---|---|---|
| FY2025 (actual) | $7.59 | — | — |
| FY2026E | $55.50 | +631.3% | 24 |
| FY2027E | $92.67 | +67.0% | 29 |
| FY2028E | $76.22 | -17.8% | 22 |
| FY2029E | $68.87 | -9.6% | 11 |
| FY2030E | $77.08 | +11.9% | 20 |
5Y Forward EPS CAGR: 59.0%
The PEG Fair Value uses the Price/Earnings-to-Growth framework. A stock is fairly valued when its P/E ratio equals its earnings growth rate (PEG = 1.0). This model adds dividend yield to the growth rate per the original PEGY formula.
Growth rate priority: analyst consensus forward EPS CAGR (when ≥ 3 analysts cover the stock), falling back to historical EPS CAGR. Using EPS rather than net income avoids distortion from share buybacks. The growth rate is clamped between 8% and 25% — below 8% would undervalue stable earners, while above 25% would overvalue unsustainable spikes.
| Year | Net Income | EPS | YoY |
|---|
| FY2021 | $5.9B | $5.14 | — |
| FY2022 | $8.7B | $7.74 | +50.6% |
| FY2023 | $-5.8B | $-5.34 | -169.0% |
| FY2024 | $778.0M | $0.70 | — |
| FY2025 | $8.5B | $7.59 | +984.3% |
4Y Historical EPS CAGR: 10.2%