Micron to launch larger share buyback program in December 2026
Micron Technology announced that it will increase its capital return program beginning Dec. 9, 2026, using its large cash pile. CFO Mark Murphy said the company intends to return 100% of excess cash to shareholders, primarily through share repurchases. The firm ended FY2026 with about $73.5 billion in cash and $5.2 billion of debt, and generated $33.2 billion of adjusted free cash flow in Q4. The expanded buyback could retire roughly 5% of the outstanding shares each year.
Why it matters
The planned buybacks will return excess cash to shareholders and could reduce the share count by about 5% annually, potentially boosting earnings per share. Analysts note that the timing aligns with CHIPS Act funding restrictions, so the program may affect Micron’s cash management and shareholder returns.
Key facts
- 1Micron ended fiscal 2026 with $73.48 billion in cash and investments. benzinga.com
- 2The company had $5.2 billion of debt at fiscal year‑end, leaving net cash of $68.3 billion. benzinga.com
- 3Adjusted free cash flow in Q4 2026 was $33.20 billion. benzinga.com
- 4Revenue for FY2026 was $133.2 billion, up 256% YoY. benzinga.com
- 5Micron’s current share repurchase authorization is $2.2 billion. benzinga.com
- 6Non‑GAAP free cash flow for FY2026 was $62.3 billion, up from $3.7 billion in 2025. finance.yahoo.com
Summary written by AlphAI from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.