Return on Equity (ROE)
since 2005
Calculation
Micron Technology Inc., ROE, long-term trends, calculation
| ROE | = | 100 | × | Net income (loss) attributable to Micron1 | ÷ | Total Micron shareholders’ equity1 | |
|---|---|---|---|---|---|---|---|
| Aug 29, 2024 | 1.72% | = | 100 | × | 778) | ÷ | 45,131) |
| Aug 31, 2023 | -13.22% | = | 100 | × | (5,833) | ÷ | 44,120) |
| Sep 1, 2022 | 17.41% | = | 100 | × | 8,687) | ÷ | 49,907) |
| Sep 2, 2021 | 13.34% | = | 100 | × | 5,861) | ÷ | 43,933) |
| Sep 3, 2020 | 6.89% | = | 100 | × | 2,687) | ÷ | 38,996) |
| Aug 29, 2019 | 17.59% | = | 100 | × | 6,313) | ÷ | 35,881) |
| Aug 30, 2018 | 43.77% | = | 100 | × | 14,135) | ÷ | 32,294) |
| Aug 31, 2017 | 27.33% | = | 100 | × | 5,089) | ÷ | 18,621) |
| Sep 1, 2016 | -2.28% | = | 100 | × | (276) | ÷ | 12,080) |
| Sep 3, 2015 | 23.57% | = | 100 | × | 2,899) | ÷ | 12,302) |
| Aug 28, 2014 | 28.27% | = | 100 | × | 3,045) | ÷ | 10,771) |
| Aug 29, 2013 | 13.02% | = | 100 | × | 1,190) | ÷ | 9,142) |
| Aug 30, 2012 | -13.40% | = | 100 | × | (1,032) | ÷ | 7,700) |
| Sep 1, 2011 | 1.97% | = | 100 | × | 167) | ÷ | 8,470) |
| Sep 2, 2010 | 23.07% | = | 100 | × | 1,850) | ÷ | 8,020) |
| Sep 3, 2009 | -39.43% | = | 100 | × | (1,835) | ÷ | 4,654) |
| Aug 28, 2008 | -26.21% | = | 100 | × | (1,619) | ÷ | 6,178) |
| Aug 30, 2007 | -4.13% | = | 100 | × | (320) | ÷ | 7,752) |
| Aug 31, 2006 | 5.03% | = | 100 | × | 408) | ÷ | 8,114) |
| Sep 1, 2005 | 3.22% | = | 100 | × | 188) | ÷ | 5,847) |
Based on: 10-K (reporting date: 2024-08-29), 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), 10-K (reporting date: 2017-08-31), 10-K (reporting date: 2016-09-01), 10-K (reporting date: 2015-09-03), 10-K (reporting date: 2014-08-28), 10-K (reporting date: 2013-08-29), 10-K (reporting date: 2012-08-30), 10-K (reporting date: 2011-09-01), 10-K (reporting date: 2010-09-02), 10-K (reporting date: 2009-09-03), 10-K (reporting date: 2008-08-28), 10-K (reporting date: 2007-08-30), 10-K (reporting date: 2006-08-31), 10-K (reporting date: 2005-09-01).
1 US$ in millions
The financial analysis over the observed periods reveals considerable volatility in profitability and equity returns, alongside a generally upward trend in shareholders' equity.
- Net Income (Loss) Trend
- The company's net income exhibits significant fluctuations, with periods of both strong profits and substantial losses. Initial years show moderate profits, with a peak at $408 million in 2006, followed by severe losses in the subsequent three years, reaching a low of -$1,835 million in 2009. A recovery phase begins in 2010, achieving profits exceeding $5 billion by 2017 and peaking at $14,135 million in 2018. However, this is followed by another decline, including a notable loss of -$5,833 million in 2023, before slightly rebounding to $778 million in 2024. These swings indicate a highly cyclical or volatile business environment or operational challenges at various points.
- Total Shareholders' Equity Trend
- Shareholders’ equity shows a consistent upward trajectory, rising from $5,847 million in 2005 to a peak of $49,907 million in 2022. Despite occasional minor declines, such as in 2009 and slight reductions in the early 2010s, the overall growth in equity over the two decades is substantial. This suggests ongoing capital accumulation, retained earnings, or equity issuances that strengthen the company's financial foundation.
- Return on Equity (ROE) Pattern
- ROE follows a pattern closely aligned with net income fluctuations. Early periods show moderate returns, with a high of 5.03% in 2006, descending into deeply negative returns during 2007 to 2009, hitting -39.43% in 2009. Recovery in profitability is mirrored in ROE improvements, peaking at 43.77% in 2018. Subsequent years show a decline in ROE, including negative return in 2023 at -13.22%, reflecting the net loss incurred that year. The ROE values emphasize the company’s sensitivity to profitability changes and the impact on shareholder returns.
- Overall Insights
- The entity experiences pronounced cyclicality and variability in net earnings and profitability metrics, yet maintains a resilient equity base that grows substantially over time. The sharp fluctuations in net income and ROE point to periods of operational or market challenges followed by recovery phases. The consistent increase in shareholders’ equity indicates financial stability and capacity to absorb losses while supporting growth initiatives.
Comparison to Competitors
Micron Technology Inc., ROE, long-term trends, comparison to competitors
| Micron Technology Inc. | Advanced Micro Devices Inc. | Analog Devices Inc. | Applied Materials Inc. | Broadcom Inc. | Intel Corp. | KLA Corp. | Lam Research Corp. | NVIDIA Corp. | Qualcomm Inc. | Texas Instruments Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Aug 29, 2024 | 1.72% | 2.85% | 4.65% | 37.77% | 8.71% | -18.89% | 82.00% | 44.82% | 69.24% | 38.60% | 28.39% |
| Aug 31, 2023 | -13.22% | 1.53% | 9.32% | 41.94% | 58.70% | 1.60% | 116.01% | 54.94% | 19.76% | 33.51% | 38.53% |
| Sep 1, 2022 | 17.41% | 2.41% | 7.54% | 53.51% | 50.62% | 7.90% | 237.04% | 73.35% | 36.65% | 71.81% | 60.02% |
| Sep 2, 2021 | 13.34% | 42.18% | 3.66% | 48.08% | 26.99% | 20.83% | 61.53% | 64.85% | 25.64% | 90.88% | 58.27% |
| Sep 3, 2020 | 6.89% | 42.66% | 10.17% | 34.21% | 12.40% | 25.79% | 45.65% | 43.53% | 22.91% | 85.54% | 60.90% |
| Aug 29, 2019 | 17.59% | 12.06% | 11.64% | 32.94% | 10.92% | 27.16% | 44.21% | 46.89% | 44.33% | 89.35% | 56.33% |
| Aug 30, 2018 | 43.77% | 26.62% | 13.61% | 48.44% | 45.99% | 28.24% | 49.51% | 36.62% | 40.78% | -524.14% | 62.04% |
| Aug 31, 2017 | 27.33% | 7.04% | 7.16% | 36.73% | 8.34% | 13.91% | 69.82% | 24.90% | 28.91% | 8.02% | 35.62% |
| Sep 1, 2016 | -2.28% | -119.47% | 16.68% | 23.85% | -9.20% | 15.58% | 102.22% | 15.51% | 13.74% | 17.95% | 34.33% |
| Sep 3, 2015 | 23.57% | — | 13.74% | 18.09% | 28.94% | 18.70% | 86.88% | 12.85% | 14.27% | 16.78% | 30.02% |
| Aug 28, 2014 | 28.27% | -215.51% | 13.23% | 13.62% | 8.11% | 20.95% | 15.88% | 12.57% | 9.87% | 20.34% | 27.15% |
| Aug 29, 2013 | 13.02% | -15.26% | 14.21% | 3.61% | 19.13% | 16.51% | 15.60% | 2.54% | 11.65% | 18.99% | 20.01% |
| Aug 30, 2012 | -13.40% | -219.89% | 15.63% | 1.51% | 23.27% | 21.49% | 22.80% | 3.29% | 14.02% | 18.22% | 16.05% |
| Sep 1, 2011 | 1.97% | 30.88% | 22.85% | 21.89% | 27.52% | 28.19% | 27.77% | 29.30% | 7.96% | 15.81% | 20.42% |
| Sep 2, 2010 | 23.07% | 46.50% | 22.25% | 12.44% | 27.57% | 23.19% | 9.45% | 19.61% | -2.55% | 15.57% | 30.93% |
| Sep 3, 2009 | -39.43% | 46.91% | 9.80% | -4.30% | -4.23% | 10.48% | -23.96% | -20.79% | -1.25% | 7.84% | 15.12% |
| Aug 28, 2008 | -26.21% | — | 32.49% | 12.73% | — | 13.54% | 12.04% | 24.70% | 30.47% | 17.61% | 20.59% |
| Aug 30, 2007 | -4.13% | -113.01% | 21.25% | 21.87% | — | 16.31% | 14.88% | 58.30% | 22.36% | 20.86% | 26.64% |
| Aug 31, 2006 | 5.03% | -2.87% | 15.99% | 22.80% | — | 13.72% | 10.66% | 24.05% | 20.76% | 18.42% | 38.21% |
| Sep 1, 2005 | 3.22% | 4.94% | 11.24% | 13.55% | — | 23.95% | 15.33% | 28.06% | 8.52% | 19.27% | 19.47% |
Based on: 10-K (reporting date: 2024-08-29), 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), 10-K (reporting date: 2017-08-31), 10-K (reporting date: 2016-09-01), 10-K (reporting date: 2015-09-03), 10-K (reporting date: 2014-08-28), 10-K (reporting date: 2013-08-29), 10-K (reporting date: 2012-08-30), 10-K (reporting date: 2011-09-01), 10-K (reporting date: 2010-09-02), 10-K (reporting date: 2009-09-03), 10-K (reporting date: 2008-08-28), 10-K (reporting date: 2007-08-30), 10-K (reporting date: 2006-08-31), 10-K (reporting date: 2005-09-01).
Comparison to Sector (Semiconductors & Semiconductor Equipment)
Micron Technology Inc., ROE, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| Micron Technology Inc. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Aug 29, 2024 | 1.72% | 11.77% |
| Aug 31, 2023 | -13.22% | 13.30% |
| Sep 1, 2022 | 17.41% | 22.70% |
| Sep 2, 2021 | 13.34% | 25.79% |
| Sep 3, 2020 | 6.89% | 24.53% |
| Aug 29, 2019 | 17.59% | 26.83% |
| Aug 30, 2018 | 43.77% | 33.43% |
| Aug 31, 2017 | 27.33% | 16.95% |
| Sep 1, 2016 | -2.28% | 13.42% |
| Sep 3, 2015 | 23.57% | 19.06% |
| Aug 28, 2014 | 28.27% | 19.77% |
| Aug 29, 2013 | 13.02% | 15.77% |
| Aug 30, 2012 | -13.40% | 14.95% |
| Sep 1, 2011 | 1.97% | 21.55% |
| Sep 2, 2010 | 23.07% | 20.99% |
| Sep 3, 2009 | -39.43% | 5.27% |
| Aug 28, 2008 | -26.21% | 10.02% |
| Aug 30, 2007 | -4.13% | 13.62% |
| Aug 31, 2006 | 5.03% | 16.52% |
| Sep 1, 2005 | 3.22% | 18.50% |
Based on: 10-K (reporting date: 2024-08-29), 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), 10-K (reporting date: 2017-08-31), 10-K (reporting date: 2016-09-01), 10-K (reporting date: 2015-09-03), 10-K (reporting date: 2014-08-28), 10-K (reporting date: 2013-08-29), 10-K (reporting date: 2012-08-30), 10-K (reporting date: 2011-09-01), 10-K (reporting date: 2010-09-02), 10-K (reporting date: 2009-09-03), 10-K (reporting date: 2008-08-28), 10-K (reporting date: 2007-08-30), 10-K (reporting date: 2006-08-31), 10-K (reporting date: 2005-09-01).
Comparison to Industry (Information Technology)
Micron Technology Inc., ROE, long-term trends, comparison to industry (information technology)
| Micron Technology Inc. | Information Technology | |
|---|---|---|
| Aug 29, 2024 | 1.72% | 29.37% |
| Aug 31, 2023 | -13.22% | 32.00% |
| Sep 1, 2022 | 17.41% | 39.15% |
| Sep 2, 2021 | 13.34% | 42.48% |
| Sep 3, 2020 | 6.89% | 35.75% |
| Aug 29, 2019 | 17.59% | 36.67% |
| Aug 30, 2018 | 43.77% | 30.39% |
| Aug 31, 2017 | 27.33% | 23.40% |
| Sep 1, 2016 | -2.28% | 23.36% |
| Sep 3, 2015 | 23.57% | 26.17% |
| Aug 28, 2014 | 28.27% | 25.60% |
| Aug 29, 2013 | 13.02% | 24.89% |
| Aug 30, 2012 | -13.40% | 26.24% |
| Sep 1, 2011 | 1.97% | 29.20% |
| Sep 2, 2010 | 23.07% | 27.87% |
| Sep 3, 2009 | -39.43% | 20.26% |
| Aug 28, 2008 | -26.21% | 25.64% |
| Aug 30, 2007 | -4.13% | 23.99% |
| Aug 31, 2006 | 5.03% | 22.71% |
| Sep 1, 2005 | 3.22% | 22.09% |
Based on: 10-K (reporting date: 2024-08-29), 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), 10-K (reporting date: 2017-08-31), 10-K (reporting date: 2016-09-01), 10-K (reporting date: 2015-09-03), 10-K (reporting date: 2014-08-28), 10-K (reporting date: 2013-08-29), 10-K (reporting date: 2012-08-30), 10-K (reporting date: 2011-09-01), 10-K (reporting date: 2010-09-02), 10-K (reporting date: 2009-09-03), 10-K (reporting date: 2008-08-28), 10-K (reporting date: 2007-08-30), 10-K (reporting date: 2006-08-31), 10-K (reporting date: 2005-09-01).