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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Micron Technology Inc. pages available for free this week:
- Common-Size Income Statement
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Operating Profit Margin since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Debt
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Micron Technology Inc., consolidated income statement (quarterly data)
US$ in millions
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
- Revenue exhibited a generally increasing trend from late 2019 through mid-2022, peaking at 8,642 million USD in June 2022. This was followed by a significant decline starting September 2022, bottoming out at 3,693 million USD in February 2023. Post that period, revenue showed a steady recovery and strong growth, reaching the highest recorded level of 13,643 million USD by November 2025.
- Cost of Goods Sold (COGS)
- COGS generally followed the revenue trend, increasing from 2019 through mid-2022 with some volatility. A notable rise in costs was observed around early 2023, despite lower revenue, resulting in margin pressures. From mid-2023 onward, costs increased in absolute terms, yet at a slower pace relative to revenue growth later in the period, which contributed to margin improvement.
- Gross Margin
- Gross margin remained positive and robust until mid-2022, after which it sharply declined into negative territory in early 2023, reflecting a combination of lower revenue and high cost structure. Recovery began mid-2023 with margins improving steadily and dramatically increasing toward the end of the period, culminating in a record high margin of 7,646 million USD by November 2025, indicating strong operational leverage and improved profitability.
- Research and Development (R&D)
- R&D expenses were relatively stable with a gradual increase over the periods reviewed. Expenses ranged mostly between 640 and 900 million USD, rising consistently to 1,171 million USD by the end of the period. This indicates sustained investment in innovation despite fluctuations in overall financial performance.
- Selling, General, and Administrative Expenses (SG&A)
- SG&A expenses followed a mild upward trend, increasing from approximately 211 million USD to 337 million USD throughout the timeline. Fluctuations were modest, demonstrating controlled administrative cost growth relative to revenue expansion.
- Restructure and Asset Impairments
- There were sporadic charges related to restructuring and impairments with notable spikes, particularly a sharp increase to -453 million USD in June 2021 and subsequent smaller charges through 2023. These indicate periodic efforts to adjust asset bases or operations in response to market or internal conditions.
- Other Operating Income (Expense), Net
- This line item exhibited volatility including occasional positive spikes such as 224 million USD in September 2023 and negative swings in earlier quarters. It reflects non-recurring operational factors having variable impact on income.
- Operating Income (Loss)
- Operating income increased substantially from 2019 through 2021, peaking at 3,004 million USD in June 2022. However, a sharp decline followed, turning to significant operating losses in late 2022 and early 2023 (e.g., -2,303 million USD) before gradually recovering. The later period showed a return to strong operating profitability, reaching 6,136 million USD by November 2025.
- Interest Income and Expense
- Interest income showed a gradual increase over the years, rising from 44 million USD to approximately 139 million USD by the end of the timeline. Interest expense remained relatively stable, with modest increases noted around 2023, peaking at 150 million USD, then declining toward the end of the period, suggesting improved financing cost management.
- Income Before Income Tax
- Trends in income before income tax closely mirrored operating income, with steady growth through early 2022, severe declines turning negative in late 2022 and early 2023, followed by recovery and significant growth toward the end of the series, peaking at 6,061 million USD in November 2025.
- Income Tax Provision (Benefit)
- Income tax varied significantly, with periods of sizable tax benefits (e.g., 622 million USD in September 2023) corresponding with loss periods that provided tax relief, and large provisions during periods of strong profitability. The volatility reflects fluctuating pre-tax income impacting tax charge recognition.
- Equity in Net Income (Loss) of Equity Method Investees
- Income (loss) from equity method investees was generally small and fluctuating around zero, with occasional positive or negative impacts, indicating minor influence on overall earnings from such investments.
- Net Income (Loss) Attributable to Micron
- Net income showed a similar pattern to operating income and pre-tax income: strong growth up to mid-2022, then a steep decline into significant losses during late 2022 and early 2023. Subsequently, net income recovered robustly and grew markedly, reaching record levels of over 5 billion USD by November 2025, demonstrating a successful turnaround and improved profitability in the latter periods.