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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- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Reportable Segments
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Net Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Total Asset Turnover since 2005
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Micron Technology Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-05-28), 10-Q (reporting date: 2026-02-26), 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).
Financial performance demonstrates extreme cyclicality, characterized by a period of stability, a severe downturn in 2023, and an exponential growth phase beginning in 2024 and accelerating through 2026.
- Revenue Dynamics
- Revenue exhibited a moderate upward trend from 2019 through mid-2022, peaking at 8,642 million USD. A sharp contraction occurred throughout 2023, reaching a nadir of 3,693 million USD in March 2023. This was followed by a rapid recovery and a subsequent surge, culminating in a peak of 41,456 million USD by May 2026, indicating a massive expansion in market demand or pricing power.
- Gross Profitability and Margin Volatility
- Gross margins experienced severe volatility. After maintaining positive levels through 2022, a period of negative gross margins emerged in 2023, reaching a low of negative 1,206 million USD in March 2023. This indicates a period where cost of goods sold significantly exceeded revenue. Profitability rebounded aggressively thereafter, with gross margins expanding to 35,056 million USD by May 2026, reflecting a drastic improvement in production efficiency or average selling prices.
- Operating Expense Management
- Research and development (R&D) and selling, general, and administrative (SG&A) expenses grew at a steady, linear pace relative to the exponential growth in revenue. R&D expenses increased from 640 million USD in 2019 to 1,316 million USD in 2026, while SG&A rose from 211 million USD to 407 million USD. The divergence between linear expense growth and exponential revenue growth created substantial operating leverage, which dramatically amplified operating income during the 2025-2026 period.
- Operating and Net Income Trends
- Operating income mirrored the volatility of gross margins, swinging from a loss of 2,303 million USD in March 2023 to a peak of 33,318 million USD in May 2026. Net income followed a similar trajectory, recovering from heavy losses in 2023 to a net profit of 28,243 million USD by the end of the observed period. The impact of income tax provisions became more pronounced during the high-earnings phase, reaching 4,978 million USD in May 2026.
- Non-Operating Financials
- Interest income showed a general upward trend, increasing from 44 million USD in 2019 to 215 million USD in February 2026. Interest expenses peaked at 150 million USD in May 2024 before declining sharply, reaching negligible levels by May 2026, which contributed to the overall improvement in the net financial position.