Stock Analysis on Net

Micron Technology Inc. (NASDAQ:MU)

Common-Size Balance Sheet: Assets 

Micron Technology Inc., common-size consolidated balance sheet: assets

Microsoft Excel
Aug 29, 2024 Aug 31, 2023 Sep 1, 2022 Sep 2, 2021 Sep 3, 2020 Aug 29, 2019
Cash and equivalents 10.14 13.35 12.46 13.19 14.20 14.63
Short-term investments 1.53 1.58 1.61 1.48 0.97 1.64
Trade receivables 7.81 3.19 7.19 8.36 6.51 5.68
Government incentives 1.20 0.16 0.00 0.00 0.00 0.00
Income and other taxes 0.39 0.30 0.38 0.45 0.43 0.50
Other 0.14 0.15 0.17 0.22 0.35 0.36
Receivables 9.53% 3.80% 7.74% 9.02% 7.29% 6.54%
Inventories 12.79 13.05 10.05 7.62 10.45 10.47
Assets held for sale 0.00 0.00 0.02 1.66 0.00 0.00
Other current assets 1.12 1.28 0.97 0.85 0.57 0.48
Current assets 35.11% 33.06% 32.86% 33.83% 33.47% 33.76%
Long-term marketable investments 1.51 1.31 2.48 3.00 1.95 2.38
Property, plant, and equipment 57.26 59.03 58.16 56.44 57.81 57.77
Operating lease right-of-use assets 0.93 1.04 1.02 0.94 1.09 0.00
Intangible assets 0.60 0.63 0.64 0.59 0.62 0.70
Deferred tax assets 0.75 1.18 1.06 1.33 1.32 1.71
Goodwill 1.66 1.79 1.85 2.09 2.29 2.51
Other noncurrent assets 2.19 1.96 1.93 1.79 1.45 1.18
Noncurrent assets 64.89% 66.94% 67.14% 66.17% 66.53% 66.24%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2024-08-29), 10-K (reporting date: 2023-08-31), 10-K (reporting date: 2022-09-01), 10-K (reporting date: 2021-09-02), 10-K (reporting date: 2020-09-03), 10-K (reporting date: 2019-08-29).


Cash and equivalents
The percentage of cash and equivalents relative to total assets has shown a gradual decline from 14.63% in 2019 to 10.14% in 2024, indicating a reduction in liquid assets over the analyzed period.
Short-term investments
Short-term investments as a percentage of total assets have remained relatively stable, fluctuating slightly within the range of 0.97% to 1.64%, suggesting a consistent allocation to this asset category.
Trade receivables
This category experienced variability, increasing from 5.68% in 2019 to a peak of 8.36% in 2021, before declining sharply to 3.19% in 2023 and rising again to 7.81% in 2024, indicating fluctuations in credit sales or collection efficiency.
Government incentives
Government incentives were not present in the earlier years but appeared from 2023 onward, increasing from 0.16% to 1.20%, which may reflect new support or subsidies received.
Income and other taxes
The proportion of income and other taxes relative to total assets declined slightly from 0.50% in 2019 to 0.30% in 2023, with a minor increase to 0.39% in 2024, indicating a modest reduction in tax-related assets.
Other and Receivables
The 'Other' category decreased steadily from 0.36% to 0.14%. Meanwhile, total receivables rose initially from 6.54% in 2019 to a peak of 9.02% in 2021, dropped substantially to 3.80% in 2023, then increased again to 9.53% in 2024, mirroring the trend observed in trade receivables.
Inventories
Inventories fluctuated within the period, decreasing from 10.47% to 7.62% by 2021, followed by an increase to 13.05% in 2023 and a slight decrease to 12.79% in 2024, suggesting varying stock levels possibly tied to production or demand cycles.
Assets held for sale
This category was absent in most years except for 1.66% in 2021 and 0.02% in 2022, indicating occasional asset disposals during this timeframe.
Other current assets
There has been a steady increase in other current assets from 0.48% to a peak of 1.28% in 2023, followed by a slight decline to 1.12% in 2024, reflecting a growing share of miscellaneous current assets.
Current assets
Current assets as a portion of total assets remained relatively steady, fluctuating slightly between 32.86% and 35.11%, with a small upward trend by 2024, indicating a stable liquidity position.
Long-term marketable investments
Long-term marketable investments showed variability, peaking at 3.00% in 2021, then decreasing to 1.31% by 2023, with a slight increase to 1.51% in 2024, suggesting selective adjustments in longer-term investment holdings.
Property, plant, and equipment
This asset category remained the largest component, consistently around 57% to 59% of total assets, indicating a substantial and stable investment in tangible fixed assets over the period.
Operating lease right-of-use assets
Lease right-of-use assets appeared starting in 2020 at 1.09%, with minor fluctuations around 0.9% to 1.04%, implying continued recognition of leasing obligations under accounting standards.
Intangible assets
Intangible assets have slightly decreased from 0.70% to 0.60%, revealing a relatively small and slightly declining share of total assets in this category.
Deferred tax assets
Deferred tax assets showed a downward trend from 1.71% to 0.75%, indicating a reduction in deferred tax benefits recognized on the balance sheet.
Goodwill
Goodwill as a percentage of total assets declined steadily from 2.51% to 1.66%, suggesting either impairment charges or decreased acquisition activity.
Other noncurrent assets
Other noncurrent assets demonstrated continuous growth, increasing from 1.18% to 2.19%, indicating a rising proportion of miscellaneous long-term assets.
Noncurrent assets
Overall, noncurrent assets remained relatively stable, fluctuating narrowly between 64.89% and 67.14%, representing a consistent emphasis on long-term investments and fixed assets in the asset structure.
Total assets
The total assets maintain the constant reference point of 100%, with all asset components analyzed relative to this base.