Memory 12M-Forward P/E TerminalDecomposing the 12-month-forward P/E of Samsung, SK hynix and Micron — forward-EPS inversion, historical trailing-P/E bands, quarterly EPS acceleration and year-end P/E cycles. Measured / consensus data only, nothing estimated
The Memory Trio, Decomposed
12M-forward P/E = price ÷ next-12-month consensus EPS. The gap between the forward (green) and trailing (TTM) multiple is the earnings rebound the market has already priced in. yf = yfinance's own forwardPE cross-check.
P/E Band: Where the Forward Sits vs History
Box = the middle 50% of past trailing P/E (p25–p75), white line = median. Green = current forward, amber dashes = current trailing. A forward to the left of / outside the box means the market prices it at a historical low against earnings — the rebound is already in.
Quarterly EPS Surge (Actuals)
Quarterly diluted EPS on each currency's own scale (KRW for Samsung / SK hynix, USD for Micron). Green bar = latest quarter, cyan = prior. The reason forward multiples look low: earnings surge quarter after quarter.
Trailing P/E Cycle (TTM Earnings)
Trailing P/E on TTM earnings. ○ = year-end P/E (a lower-noise long view), dashes = cycle regimes. P/E spikes at earnings troughs (SK hynix's 2023 losses show as NM) and compresses at earnings peaks — so a low forward P/E means the market expects an earnings peak. Micron excluded (sparse history).
Conclusion · Methodology
The gap between the two multiples is the earnings rebound the market has already priced in. Below is the record of how the data was assembled.
Source: SK증권 반도체 한동희 (리서치 IT팀) — https://t.me/skitteam · yfinance (close / quarterly actuals / consensus) · BQL gen 2026-07-09 21:13 · as of 2026-07-13 · updated 2026-07-28. Read-only data display — no weights, targets, probabilities or trading advice.