Stock Analysis on Net

Micron Technology Inc. (NASDAQ:MU)

Common-Size Income Statement 

Micron Technology Inc., common-size consolidated income statement

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12 months ended: Aug 31, 2023 Sep 1, 2022 Sep 2, 2021 Sep 3, 2020 Aug 29, 2019 Aug 30, 2018
Revenue 100.00 100.00 100.00 100.00 100.00 100.00
Cost of goods sold -109.11 -54.82 -62.38 -69.43 -54.28 -41.13
Gross margin -9.11% 45.18% 37.62% 30.57% 45.72% 58.87%
Research and development -20.04 -10.13 -9.61 -12.13 -10.43 -7.04
Selling, general, and administrative -5.92 -3.47 -3.23 -4.11 -3.57 -2.68
Restructure and asset impairments -1.10 -0.16 -1.76 -0.28 0.12 -0.09
Goodwill impairment -0.65 0.00 0.00 0.00 0.00 0.00
Litigation settlement -0.44 0.00 0.00 0.00 0.00 0.00
Patent license charges 0.00 0.00 -0.46 0.00 0.00 0.00
Gain (loss) on disposition of property, plant, and equipment 0.35 0.13 0.09 0.01 -0.18 0.32
Other -0.06 -0.02 0.03 -0.05 -0.15 -0.04
Other operating income (expense), net -0.80% 0.11% -0.34% -0.04% -0.33% 0.28%
Operating income (loss) -36.97% 31.54% 22.68% 14.01% 31.51% 49.34%
Interest income 3.01 0.31 0.13 0.53 0.88 0.39
Interest expense -2.50 -0.61 -0.66 -0.91 -0.55 -1.13
Gain (loss) on investments -0.05 0.08 0.30 0.10 -0.02 0.00
Gain (loss) on debt repurchases and conversions 0.00 -0.27 0.00 0.19 -1.69 -1.27
Other 0.10 0.06 0.00 -0.01 -0.02 -0.26
Other non-operating income (expense), net 0.05% -0.12% 0.29% 0.28% -1.73% -1.53%
Income (loss) before income tax provision and equity in net income (loss) of equity method investees -36.41% 31.12% 22.44% 13.92% 30.11% 47.08%
Income tax provision -1.14 -2.89 -1.42 -1.31 -2.96 -0.55
Equity in net income (loss) of equity method investees 0.01 0.01 0.13 0.03 0.01 0.00
Net income (loss) -37.54% 28.24% 21.16% 12.64% 27.16% 46.52%
Net income attributable to noncontrolling interests 0.00 0.00 0.00 -0.11 -0.19 -0.01
Net income (loss) attributable to Micron -37.54% 28.24% 21.16% 12.54% 26.97% 46.51%

Based on: 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), 10-K (reporting date: 2018-08-30).

Income statement item Description The company
Operating income (loss) The net result for the period of deducting operating expenses from operating revenues. Micron Technology Inc. operating income (loss) as a percentage of revenue increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Income (loss) before income tax provision and equity in net income (loss) of equity method investees Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Micron Technology Inc. income (loss) before income tax provision and equity in net income (loss) of equity method investees as a percentage of revenue increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Net income (loss) attributable to Micron The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Micron Technology Inc. net income (loss) attributable to Micron as a percentage of revenue increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.