Memory Sector Monitor · DRAM

Samsung Electronics · SK Hynix · Micron Technology | all financials in US$ millions | live prices + USD:KRW recompute | generated Mon 13 Jul 2026, 21:10 SGT

📘 Methodology guide 🗂 Archive · last 25 runs

Samsung Electron

254,500 ₩yf

mkt cap US$ 1.01 tn

Sk Hynix Inc

1,845,000 ₩yf

mkt cap US$ 881 bn

Micron Tech

979 $yf

mkt cap US$ 1.10 tn

USD : KRW

1,493.08yfinance

KRW per 1 USD

Valuation charts

Quarterly 1Q2011 → 1Q2026, then FY2026 and FY2027 (shaded = forecast).

Sector Forward PER

Sector P/Book vs ROE

Model — Memory sheet FY26/FY27 live

All financial figures are in US$ millions — for each company (Samsung, SK Hynix, Micron) and the sector aggregates. The label column is frozen; scroll right for later periods. Blue columns (FY 2026 / FY 2027) are recomputed from live prices; the 1Q2026 header is the latest actual.

Sector Net Income, Net Margin & ROE are heat-shaded across time — trough → peak.

Company / Metric	FQ1 2008	FQ1 2009	FQ1 2010	FQ1 2011	FQ1 2012	FQ1 2013	FQ1 2014	FQ1 2015	FQ1 2016	FQ1 2017	FQ1 2018	FQ1 2019	FQ1 2020	FQ2 2020	FQ3 2020	FQ4 2020	FQ1 2021	FQ2 2021	FQ3 2021	FQ4 2021	FQ1 2022	FQ2 2022	FQ3 2022	FQ4 2022	FQ1 2023	FQ2 2023	FQ3 2023	FQ4 2023	FQ1 2024	FQ2 2024	FQ3 2024	FQ4 2024	FQ1 2025	FQ2 2025	FQ3 2025	FQ4 2025	FQ1 2026	FQ2 2026	FQ3 2026	FQ4 2026	FY 2026	FY 2027
SAMSUNG ELECTRON · 005930 KP
Revenue, Adj		20,308	30,276	33,063	40,040	48,724	50,190	42,780	41,493	43,887	56,494	46,552	46,404	43,434	56,374	55,088	58,672	56,783	63,786	64,681	64,530	61,220	57,271	51,976	49,971	45,605	51,330	51,344	54,059	54,015	58,356	54,193	54,489	53,313	62,061	64,773	91,395				475,358	621,509
EBITDA, Adj		2,454	6,038	5,292	8,236	11,784	11,918	9,850	10,122	13,058	20,436	11,844	11,619	12,763	16,828	15,146	15,457	18,332	21,237	19,826	19,829	18,982	15,432	10,294	8,017	7,773	9,230	9,589	12,446	14,998	14,933	12,866	12,534	11,463	17,296	22,300	47,516				280,599	392,980
EBIT, Adj		338	3,527	2,499	4,985	8,091	7,938	5,429	5,564	8,594	14,591	5,539	5,408	6,680	10,400	8,097	8,419	11,207	13,638	11,714	11,716	11,178	8,094	3,176	502	508	1,853	2,140	4,966	7,616	6,775	4,643	4,603	3,343	8,773	13,856	39,073				246,831	357,001
Net Income, Adj		366	2,751	2,029	3,753	5,631	6,030	3,538	3,639	5,667	9,475	3,951	3,574	3,957	6,865	5,019	5,548	7,345	9,080	7,888	8,084	7,610	5,987	15,238	949	1,029	3,695	4,008	4,385	6,170	6,378	4,750	4,861	3,080	7,601	11,695	28,272				197,913	282,107
Market Cap			92,899	110,476	146,914	179,506	165,603	168,072	144,150	224,543	276,973	234,267	233,974	262,467	298,264	444,115	430,951	425,983	373,218	392,805	342,215	264,129	220,539	262,796	293,029	327,037	302,718	361,582	365,447	352,783	279,195	213,731	229,972	259,637	348,252	485,785	622,914				1,009,020	1,009,020
Shrs Outstanding		7,365.0	7,365.0	7,365.0	7,365.0	7,365.0	7,365.0	7,365.0	7,253.5	7,034.0	6,419.3	5,969.8	5,969.8	5,969.8	5,969.8	5,969.8	5,969.8	5,969.8	5,969.8	5,969.8	5,969.8	5,969.8	5,969.8	5,969.8	5,969.8	5,969.8	5,969.8	5,969.8	5,969.8	5,969.8	5,969.8	5,969.8	5,919.6	5,919.6	5,919.6	5,919.6	5,919.6
Shareholders Equity			66,545	83,344	93,173	115,697	146,497	151,187	156,120	169,815	210,450	222,546	218,650	224,666	237,051	253,442	243,232	249,637	250,381	256,221	259,683	254,527	239,957	282,394	275,952	272,374	269,772	280,605	276,302	278,091	293,750	272,018	275,813	295,198	294,492	302,077	320,966				468,492	752,828
ROE				15.6	13.4	19.8	18.6	11.2	11.0	11.7	20.0	14.1	7.4	7.4	8.3	8.7	9.5	10.5	11.0	12.2	13.2	13.2	11.8	15.0	12.0	9.4	8.2	3.6	4.9	6.8	7.7	7.9	8.1	7.0	7.3	9.5	16.8				51.4	46.2
P/Book				1.39	1.62	1.61	1.17	1.15	0.96	1.37	1.36	1.09	1.10	1.20	1.30	1.81	1.83	1.76	1.53	1.58	1.36	1.07	0.95	0.96	1.09	1.24	1.15	1.33	1.36	1.30	0.98	0.81	0.86	0.90	1.22	1.65	1.99				2.37	1.48
SK HYNIX INC · 000660 KS
Revenue, Adj		930	2,468	2,497	2,112	2,563	3,500	4,375	3,047	5,461	8,134	6,018	6,038	7,058	6,843	7,130	7,622	9,205	10,179	10,456	10,085	10,952	8,192	5,659	3,989	5,553	6,904	8,564	9,343	11,977	12,965	14,135	12,145	15,895	17,631	22,659	35,894				237,130	358,003
EBITDA, Adj			1,316	1,061	512	1,008	1,762	2,298	1,369	3,160	5,428	3,025	2,630	3,587	3,186	3,124	3,464	4,736	5,933	5,926	5,193	6,089	3,890	1,324	123	477	1,189	2,725	4,571	6,272	7,460	8,049	7,426	9,057	10,776	15,697	28,222				195,877	297,718
EBIT, Adj		-365	669	304	-231	297	991	1,443	470	2,148	4,077	1,214	673	1,598	1,096	858	1,188	2,403	3,597	3,565	2,376	3,328	1,239	-1,400	-2,667	-2,190	-1,365	262	2,169	3,988	5,186	5,780	5,123	6,587	8,209	13,232	25,677				181,616	280,057
Net Income, Adj		-834	725	252	-237	168	770	1,169	370	1,653	2,911	964	519	1,055	913	415	878	1,747	2,821	2,471	1,651	2,193	832	-1,514	-2,025	-2,275	-1,663	-147	1,437	3,004	4,219	5,150	4,566	4,881	7,298	7,231	22,374				153,528	227,507
Market Cap				16,841	17,927	18,017	24,077	29,910	17,941	32,055	54,375	44,836	47,008	48,720	49,578	74,828	80,789	77,521	59,755	75,697	66,831	48,573	39,756	41,055	46,995	60,453	58,812	75,130	93,620	118,087	91,488	81,041	89,299	148,943	170,878	316,743	376,535				880,687	880,687
Shrs Outstanding		519.6	589.7	590.3	694.0	694.2	710.2	728.0	728.0	728.0	728.0	728.0	728.0	728.0	728.0	728.0	728.0	728.0	728.0	728.0	728.0	728.0	728.0	728.0	728.0	728.0	728.0	728.0	728.0	728.0	728.0	728.0	728.0	728.0	728.0	728.0	712.7
Shareholders Equity				7,378	8,741	9,021	13,045	17,251	18,792	22,517	34,291	41,453	39,602	41,137	43,351	47,676	46,451	48,524	49,537	52,262	52,217	51,820	47,812	50,382	46,791	43,597	40,946	41,282	41,237	43,382	49,659	49,992	55,241	64,381	71,223	83,541	108,419				237,974	464,502
ROE					-5.7	3.3	30.4	27.6	17.2	18.9	38.5	32.0	3.5	5.0	6.1	6.9	7.6	8.6	12.2	16.0	17.5	18.0	13.8	6.1	-1.2	-10.5	-15.8	-13.6	-5.9	6.2	19.2	29.8	34.6	35.9	37.2	35.0	49.0				95.5	64.8
P/Book				2.28	2.05	2.00	1.85	1.73	0.95	1.42	1.59	1.08	1.19	1.18	1.14	1.57	1.74	1.60	1.21	1.45	1.28	0.94	0.83	0.82	1.00	1.39	1.44	1.82	2.27	2.72	1.84	1.62	1.62	2.31	2.40	3.80	3.47				4.40	2.25
MICRON TECH · MU US
Revenue, Adj	1,402	1,740	2,252	2,090	1,834	4,042	4,573	3,350	3,970	6,803	7,913	5,144	4,797	5,438	6,056	5,773	6,236	7,422	8,274	7,687	7,786	8,642	6,643	4,085	3,693	3,752	4,010	4,726	5,824	6,811	7,750	8,709	8,053	9,301	11,315	13,643	23,860	41,456			129,713	249,087
EBITDA, Adj	-133	689	694	483	270	1,280	1,733	969	1,161	4,196	5,161	1,846	1,836	2,344	2,810	2,395	2,379	3,852	4,627	4,309	4,403	4,862	3,447	1,766	-240	278	605	810	1,943	2,674	3,551	4,242	3,893	4,423	5,864	8,368	18,446	35,705			107,586	213,407
EBIT, Adj	-738	198	194	-81	-187	789	1,090	232	390	3,106	3,826	526	447	895	1,216	881	803	2,267	2,980	2,609	2,631	3,009	1,531	-191	-2,213	-1,712	-1,368	-1,138	-16	684	1,528	2,174	1,777	2,273	3,693	6,116	16,160	33,341			97,861	204,016
Net Income, Adj	-783	202	63	-200	-274	561	1,056	206	266	2,946	3,382	486	434	868	1,156	819	763	2,054	2,698	2,372	2,344	2,809	1,513	-150	-2,192	-1,708	-1,301	-1,192	304	499	1,172	1,866	1,599	1,973	3,262	5,261	13,786	28,588			83,199	173,516
Market Cap	1,382	7,113	7,885	5,818	6,034	22,398	38,775	16,968	20,291	49,088	42,459	53,361	56,245	51,675	51,565	78,078	94,534	91,874	82,795	92,826	99,703	83,284	62,697	60,540	61,734	75,654	76,794	83,580	100,305	140,056	105,987	109,395	102,655	108,319	136,884	259,273	468,752	1,042,654			1,104,390	1,104,390
Shrs Outstanding	763.8	849.9	996.2	987.6	1,017.6	1,051.9	1,073.5	1,085.8	1,041.5	1,153.3	1,134.3	1,107.1	1,110.9	1,112.2	1,111.0	1,116.9	1,118.7	1,121.4	1,125.8	1,118.6	1,119.8	1,116.7	1,103.1	1,087.2	1,091.2	1,094.4	1,095.3	1,098.0	1,103.9	1,107.4	1,108.8	1,110.5	1,114.2	1,117.6	1,119.1	1,125.3	1,125.5	1,127.7
Shareholders Equity	8,186	7,091	9,994	9,709	8,186	10,146	12,546	13,317	13,199	23,411	34,838	36,598	37,121	37,918	38,996	39,907	40,663	42,259	43,933	45,908	47,845	49,281	49,907	49,306	47,257	45,405	44,120	42,885	43,870	44,225	45,131	46,797	48,633	50,748	54,165	58,806	72,459	100,724			158,919	310,924
ROE	-33.0	-14.8	21.8	-3.0	-14.3	8.4	36.2	17.3	-0.6	47.3	52.5	10.8	6.9	6.2	7.9	8.6	9.3	12.0	15.3	18.4	21.4	22.3	19.3	13.7	4.2	-5.4	-11.4	-13.9	-8.6	-3.8	1.8	8.6	11.1	13.9	17.5	22.9	40.1	67.2			76.4	73.9
P/Book	0.25	1.37	0.96	0.70	0.81	2.43	3.31	1.37	1.64	2.18	1.25	1.46	1.52	1.37	1.32	1.96	2.32	2.17	1.88	2.02	2.08	1.69	1.26	1.23	1.31	1.67	1.74	1.95	2.29	3.17	2.35	2.34	2.11	2.13	2.53	4.41	6.47	10.35			4.64	2.37
MEMORY SECTOR · aggregate
Sector Revenue				37,650	43,987	55,329	58,263	50,505	48,510	56,150	72,541	57,714	57,239	55,929	69,274	67,991	72,529	73,410	82,239	82,824	82,400	80,813	72,106	61,720	57,652	54,910	62,244	64,634	69,227	72,802	79,070	77,037	74,687	78,510	91,007	101,075	151,149				842,201	1,228,599
Sector EBITDA				6,836	9,018	14,072	15,412	13,117	12,652	20,414	31,026	16,716	16,085	18,695	22,824	20,665	21,299	26,920	31,797	30,061	29,425	29,933	22,770	13,383	7,900	8,528	11,024	13,124	18,959	23,943	25,944	25,157	23,853	24,943	33,936	46,365	94,184				584,063	904,105
Sector EBIT				2,722	4,568	9,177	10,019	7,104	6,424	13,848	22,494	7,279	6,528	9,173	12,712	9,836	10,410	15,877	20,215	17,888	16,722	17,516	10,864	1,585	-4,378	-3,394	-879	1,264	7,119	12,288	13,489	12,596	11,503	12,203	20,675	33,204	80,909				526,307	841,074
EBIT margin				7.2%	10.4%	16.6%	17.2%	14.1%	13.2%	24.7%	31.0%	12.6%	11.4%	16.4%	18.3%	14.5%	14.4%	21.6%	24.6%	21.6%	20.3%	21.7%	15.1%	2.6%	-7.6%	-6.2%	-1.4%	2.0%	10.3%	16.9%	17.1%	16.4%	15.4%	15.5%	22.7%	32.9%	53.5%				62.5%	68.5%
Sector Net Income				2,081	3,242	6,360	7,856	4,913	4,275	10,266	15,768	5,402	4,527	5,880	8,934	6,253	7,189	11,147	14,599	12,732	12,079	12,612	8,332	13,574	-3,268	-2,954	731	2,669	6,126	9,674	11,768	11,766	11,025	9,934	18,161	24,187	64,433	123,403	123,403	123,403	434,641	683,130
Net margin				5.5%	7.4%	11.5%	13.5%	9.7%	8.8%	18.3%	21.7%	9.4%	7.9%	10.5%	12.9%	9.2%	9.9%	15.2%	17.8%	15.4%	14.7%	15.6%	11.6%	22.0%	-5.7%	-5.4%	1.2%	4.1%	8.8%	13.3%	14.9%	15.3%	14.8%	12.7%	20.0%	23.9%	42.6%				51.6%	55.6%
Total Market Cap				133,135	170,875	219,921	228,456	214,949	182,382	305,686	373,807	332,464	337,227	362,861	399,407	597,021	606,274	595,378	515,768	561,327	508,749	395,986	322,991	364,390	401,759	463,144	438,324	520,291	559,372	610,925	476,670	404,168	421,926	516,899	656,014	1,061,800	1,468,201				2,994,097	2,994,097
Shareholder Equity				100,431	110,100	134,865	172,088	181,755	188,110	215,743	279,579	300,597	295,372	303,721	319,398	341,025	330,347	340,420	343,851	354,390	359,744	355,628	337,676	382,082	370,000	361,377	354,838	364,772	361,409	365,698	388,540	368,807	379,687	410,327	419,880	444,424	501,844				865,385	1,528,255
Forward PER				6.81	7.64	9.40	8.37	6.10	5.11	8.50	11.84	13.44	13.18	12.84	11.91	15.23	13.28	11.78	9.91	12.27	10.92	12.67	20.59	45.08	-142.36	70.48	22.83	17.21	14.22	13.81	10.71	7.94	6.66	4.43	2.85	3.17	3.38				6.89	4.38
ROE				12.8	10.4	17.3	22.9	13.9	10.3	18.2	26.4	16.0	6.8	6.9	8.0	8.5	9.2	10.5	11.8	13.7	15.4	15.7	13.5	13.8	9.3	4.4	1.5	-1.7	0.7	4.2	8.6	12.5	14.4	16.8	17.3	20.4	32.5				73.6	61.9
P/Book				1.47	1.63	1.73	1.61	1.25	1.03	1.51	1.38	1.15	1.18	1.23	1.28	1.80	1.89	1.80	1.55	1.63	1.49	1.18	0.99	0.99	1.11	1.33	1.30	1.50	1.68	2.00	1.45	1.38	1.32	1.57	1.80	2.97	3.80				3.81	2.04

Memory Sector: 2028 Net profit & ROE sensitivity to different Net Margin assumptions

Assumed Net Margin	10%	20%	30%	40%	50%	55%
Net Profit in 2028	122,860	245,720	368,580	491,439	614,299	675,729
PER @ Current Market Cap	24.37	12.19	8.12	6.09	4.87	4.43
ROE	14.9%	27.7%	38.9%	48.7%	57.3%	61.3%
P/Book	1.81	1.69	1.58	1.48	1.40	1.36
Avg Shr Equity (Avg of FY27 & FY28)	825,557	886,987	948,417	1,009,847	1,071,277	1,101,992
Book Value	1,651,115	1,773,975	1,896,834	2,019,694	2,142,554	2,203,984

Data source: analyst Memory workbook (Bloomberg-adjusted). Live prices via yfinance → Stooq → Naver; USD:KRW via yfinance → Stooq. Market cap (US$ mn) = price × latest-populated shares; the two Korean names are divided by USD:KRW to convert to US$, Micron is already in US$. Historical columns unchanged; only current market cap (cols AR/AS) and the cells it drives are live-recomputed. Not investment advice.