Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Balance Sheet: Assets
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Reportable Segments
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
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Micron Technology Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 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), 10-K (reporting date: 2019-08-29), 10-Q (reporting date: 2019-05-30), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-29).
- Revenue
- The revenue exhibits significant fluctuations over the analyzed periods. Initially, there is a decline from approximately $7.9 billion in late 2018 to around $4.8 billion through mid-2019. Subsequently, the revenue experiences a general upward trend, peaking near $8.6 billion in late 2024, with intermittent declines such as a notable dip around late 2022 approaching $4.1 billion. Overall, the revenue demonstrates cyclical patterns with periods of recovery and growth.
- Cost of Goods Sold (COGS)
- COGS follows a pattern roughly similar to revenue but with high volatility. After an initial drop from about $3.3 billion in late 2018 to approximately $2.96 billion by mid-2019, costs rise steadily, with some sharp increases, notably around early 2023. The highest costs appear later in the timeline, reaching close to $5.8 billion in mid-2025. The variance suggests cost pressures increased significantly toward the latter periods.
- Gross Margin
- Gross margin shows a marked decline from $4.6 billion in late 2018 to negative territory in early 2023, indicating periods where costs exceeded revenue. There is a notable recovery following this low, with margins rebounding strongly to over $3.5 billion in mid-2025. This indicates a cyclical profitability pattern with critical downturns and subsequent recoveries within the timeframe.
- Research and Development (R&D) Expenses
- R&D expenditures remain relatively stable but gradually increase over time, ranging mostly between $600 million and $900 million per quarter. There is a subtle upward trend, especially apparent after 2020, indicating sustained investment in innovation despite revenue and profit volatility.
- Selling, General, and Administrative (SG&A) Expenses
- SG&A costs show minor incremental increases over the period analyzed, generally fluctuating between $200 million and $320 million. The expenditure pattern remains relatively consistent without drastic swings, indicating controlled operational spending in these areas.
- Restructure and Asset Impairments
- Restructuring and asset impairments occur sporadically, with significant impairment expenses recorded notably around late 2020 and late 2022. These entries suggest episodic charges that could have impacted operating results, reflecting efforts to streamline operations or address asset value adjustments during challenging periods.
- Other Operating Income (Expense), Net
- This item shows volatile fluctuations between positive and negative values across the quarters, with occasional sharp spikes both upward and downward. The instability implies irregular gains or losses that variably affect operating income.
- Operating Income (Loss)
- Operating income trends closely follow gross margin movements. High operating profits are recorded in late 2018, late 2021, and mid-2024, while significant operating losses occur mainly during early 2023. The pattern reflects operational challenges interspersed with periods of recovery, likely influenced by market and cost dynamics.
- Interest Income and Expense
- Interest income gradually increases from around $38 million to over $130 million, indicating improved returns on invested funds. Conversely, interest expense rises moderately from approximately $33 million to over $120 million, reflecting higher financing costs or debt levels. The net effect on earnings would depend on the balance of these changes.
- Other Non-operating Income (Expense), Net
- This category is highly erratic with significant negative spikes and some positive recoveries, indicating unpredictable gains or losses outside core operations that contribute to overall income variability.
- Income Before Income Taxes
- The pre-tax income closely parallels operating income trends, with peaks in late 2018, late 2021, and mid-2024, and troughs, including losses in early 2023. The volatility underscores the impact of both operational performance and other financial activities on profitability.
- Income Tax (Provision) Benefit
- Income tax provisions fluctuate extensively, with negative tax expenses generally consistent with profitable periods and occasional tax benefits during loss periods. The large swings suggest variable effective tax rates and possible tax planning or adjustments related to fluctuating pre-tax incomes.
- Equity in Net Income (Loss) of Equity Method Investees
- The earnings contributions from equity method investees vary between minor positive and negative impacts, mostly small in magnitude, thus exerting limited influence on net income.
- Net Income (Loss)
- Net income reflects the combined effect of revenue, costs, operating expenses, and taxes. The data show a peak near $3.3 billion in late 2018, followed by a notable decline into negative income during early 2023. Thereafter, net income recovers strongly, exceeding $1.8 billion by mid-2025. The net income trend highlights periods of profitability stressed by operational and market challenges with recovery phases.
- Net Income Attributable to Noncontrolling Interests
- This amount is marginal relative to total net income and remains consistently low and negative, suggesting minor impacts on the reported results attributed to minority shareholders.