Common-Size Income Statement
Quarterly Data
Paying user area
Try for free
Micron Technology Inc. pages available for free this week:
- Income Statement
- Statement of Comprehensive Income
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Micron Technology Inc. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Micron Technology Inc., common-size consolidated income statement (quarterly data)
Based on: 10-Q (reporting date: 2025-11-27), 10-K (reporting date: 2025-08-28), 10-Q (reporting date: 2025-05-29), 10-Q (reporting date: 2025-02-27), 10-Q (reporting date: 2024-11-28), 10-K (reporting date: 2024-08-29), 10-Q (reporting date: 2024-05-30), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-06-01), 10-Q (reporting date: 2023-03-02), 10-Q (reporting date: 2022-12-01), 10-K (reporting date: 2022-09-01), 10-Q (reporting date: 2022-06-02), 10-Q (reporting date: 2022-03-03), 10-Q (reporting date: 2021-12-02), 10-K (reporting date: 2021-09-02), 10-Q (reporting date: 2021-06-03), 10-Q (reporting date: 2021-03-04), 10-Q (reporting date: 2020-12-03), 10-K (reporting date: 2020-09-03), 10-Q (reporting date: 2020-05-28), 10-Q (reporting date: 2020-02-27), 10-Q (reporting date: 2019-11-28).
- Revenue and Cost of Goods Sold
- The company's revenue remained constant at 100% throughout the periods. The cost of goods sold (COGS) as a percentage of revenue showed substantial fluctuations. Initially, COGS decreased from approximately 73.44% to about 52.72% in mid-2021, indicating improved production efficiency or cost control. However, starting from late 2022, COGS sharply increased, peaking at over 130% in early 2023, which significantly impacted profitability. Following this peak, COGS gradually reduced to 43.96% towards the end of the last period, reflecting a recovery in cost management.
- Gross Margin
- Gross margin exhibited a positive trend from 26.56% to a peak of 47.28% by late 2021, corresponding to the period when COGS was at its lowest levels. However, gross margin turned negative in early 2023, reaching as low as -32.66%, triggered by the surge in COGS. Subsequently, gross margin displayed a recovery trend, rising back to over 56% by the latest period, surpassing earlier highs.
- Research and Development (R&D) Expenses
- R&D expenses as a percentage of revenue showed moderate variability, generally trending downward from around 12.44% in late 2019 to 8.58% near the end of the analyzed periods. Notably, there was a spike up to approximately 21.34% during the low margin phase in early 2023, indicating increased investment despite profitability challenges, before resuming a downward trend.
- Selling, General, and Administrative (SG&A) Expenses
- SG&A expenses steadily declined over time from around 4.1% to 2.47% of revenue, suggesting effective cost control measures. Similar to R&D, SG&A showed a temporary increase during the early 2023 downturn but quickly reverted to lower levels.
- Restructure and Asset Impairments
- Impairment charges and restructuring costs appeared intermittently, with notable spikes such as -6.10% in mid-2021 and a smaller but significant effect in 2023, exacerbating operating performance dips during those periods.
- Operating Income and Net Income
- Operating income followed a pattern similar to gross margin, improving from about 10.07% to a peak near 35.71% before plunging to -62.36% in early 2023. This sharp decline aligns with elevated COGS and impairment charges. Recovery ensued gradually, with operating income climbing to nearly 45% by the end of the timeline. Net income mirrored this trajectory, peaking around 32.87%, dropping to approximately -62.6%, then rebounding to over 38% in the latest periods.
- Interest Income and Expense
- Interest income increased modestly, from less than 1% to a peak over 3% around early 2023, then declined somewhat. Interest expense remained relatively low, oscillating slightly but demonstrated an increase during the periods of financial stress, peaking at over -3% in early 2023 before decreasing in subsequent periods.
- Income Tax Provision
- The income tax provision as a percentage of revenue exhibited significant variability, often correlating with profitability fluctuations. During negative income periods in 2023, tax rates sometimes turned positive, suggesting tax benefits or adjustments. Later recovering profitability corresponded with normalizing tax provisions that fluctuated but showed no clear trend.
- Other Operating and Non-operating Income
- Other operating income and expenses presented variable minor effects, occasionally positive and negative, with no consistent directional trend. Non-operating income fluctuated around zero, with some negative spikes during mid to late 2020 and early 2023, contributing modestly to overall income volatility.
- Summary of Trends and Insights
- The data reveal a company that managed to improve its gross margin and operating income significantly through 2021, reflecting operational efficiencies and cost controls. However, early 2023 marked a period of material financial distress, characterized by sharply increased COGS, impairments, and negative profitability. Despite these challenges, the company demonstrated a robust recovery trajectory, with gross margin and income metrics surpassing previous highs by the last periods. R&D and SG&A expenses were generally controlled, with temporary increases during downturns indicative of strategic investments. Interest and tax expenses responded logically to income fluctuations. Overall, the company showed resilience and the ability to rebound from significant adverse conditions within the observed timeframe.