Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Micron Technology Inc. (NASDAQ:MU)

Analysis of Solvency Ratios

Beginner level

Solvency Ratios (Summary)

Micron Technology Inc., solvency ratios

Microsoft Excel LibreOffice Calc
Sep 3, 2020 Aug 29, 2019 Aug 30, 2018 Aug 31, 2017 Sep 1, 2016 Sep 3, 2015
Debt Ratios
Debt to equity 0.17 0.16 0.14 0.60 0.82 0.60
Debt to equity (including operating lease liability) 0.19 0.16 0.14 0.60 0.82 0.60
Debt to capital 0.15 0.14 0.13 0.37 0.45 0.37
Debt to capital (including operating lease liability) 0.16 0.14 0.13 0.37 0.45 0.37
Debt to assets 0.12 0.12 0.11 0.32 0.36 0.30
Debt to assets (including operating lease liability) 0.13 0.12 0.11 0.32 0.36 0.30
Financial leverage 1.38 1.36 1.34 1.90 2.28 1.96
Coverage Ratios
Interest coverage 16.41 56.09 42.83 9.66 0.41 9.24
Fixed charge coverage 11.10 32.90 36.32 8.97 0.47 8.29

Based on: 10-K (filing date: 2020-10-19), 10-K (filing date: 2019-10-17), 10-K (filing date: 2018-10-15), 10-K (filing date: 2017-10-26), 10-K (filing date: 2016-10-28), 10-K (filing date: 2015-10-27).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Micron Technology Inc.’s debt to equity ratio deteriorated from 2018 to 2019 and from 2019 to 2020.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Micron Technology Inc.’s debt to equity ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Micron Technology Inc.’s debt to capital ratio deteriorated from 2018 to 2019 and from 2019 to 2020.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Micron Technology Inc.’s debt to capital ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Micron Technology Inc.’s debt to assets ratio deteriorated from 2018 to 2019 and from 2019 to 2020.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Micron Technology Inc.’s debt to assets ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Micron Technology Inc.’s financial leverage ratio increased from 2018 to 2019 and from 2019 to 2020.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Micron Technology Inc.’s interest coverage ratio improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Micron Technology Inc.’s fixed charge coverage ratio deteriorated from 2018 to 2019 and from 2019 to 2020.

Debt to Equity

Micron Technology Inc., debt to equity calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 3, 2020 Aug 29, 2019 Aug 30, 2018 Aug 31, 2017 Sep 1, 2016 Sep 3, 2015
Selected Financial Data (US$ in millions)
Current debt 270  1,310  859  1,262  756  1,089 
Long-term debt 6,373  4,541  3,777  9,872  9,154  6,252 
Total debt 6,643  5,851  4,636  11,134  9,910  7,341 
 
Total Micron shareholders’ equity 38,996  35,881  32,294  18,621  12,080  12,302 
Solvency Ratio
Debt to equity1 0.17 0.16 0.14 0.60 0.82 0.60
Benchmarks
Debt to Equity, Competitors2
Advanced Micro Devices Inc. 0.17 0.99 2.28 3.45
Analog Devices Inc. 0.47 0.58 0.77 0.34 0.17
Apple Inc. 1.19 1.07 0.86 0.68 0.54
Applied Materials Inc. 0.65 0.78 0.57 0.46 0.60
Broadcom Inc. 1.32 0.66 0.87 0.72 0.84
Cisco Systems Inc. 0.38 0.73 0.59 0.51 0.45 0.42
Intel Corp. 0.37 0.35 0.39 0.38 0.37
Lam Research Corp. 1.12 0.96 0.37 0.40 0.74 0.46
NVIDIA Corp. 0.16 0.21 0.27 0.48 0.32 0.32
Qualcomm Inc. 3.25 17.64 0.71 0.37 0.35
Texas Instruments Inc. 0.65 0.56 0.39 0.34 0.41
Debt to Equity, Sector
Technology Hardware & Equipment 0.77 0.70 0.66 0.54 0.47
Debt to Equity, Industry
Technology 0.56 0.56 0.59 0.48 0.43

Based on: 10-K (filing date: 2020-10-19), 10-K (filing date: 2019-10-17), 10-K (filing date: 2018-10-15), 10-K (filing date: 2017-10-26), 10-K (filing date: 2016-10-28), 10-K (filing date: 2015-10-27).

1 2020 Calculation
Debt to equity = Total debt ÷ Total Micron shareholders’ equity
= 6,643 ÷ 38,996 = 0.17

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Micron Technology Inc.’s debt to equity ratio deteriorated from 2018 to 2019 and from 2019 to 2020.

Debt to Equity (including Operating Lease Liability)

Micron Technology Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 3, 2020 Aug 29, 2019 Aug 30, 2018 Aug 31, 2017 Sep 1, 2016 Sep 3, 2015
Selected Financial Data (US$ in millions)
Current debt 270  1,310  859  1,262  756  1,089 
Long-term debt 6,373  4,541  3,777  9,872  9,154  6,252 
Total debt 6,643  5,851  4,636  11,134  9,910  7,341 
Current operating lease liabilities 54  —  —  —  —  — 
Noncurrent operating lease liabilities 533  —  —  —  —  — 
Total debt (including operating lease liability) 7,230  5,851  4,636  11,134  9,910  7,341 
 
Total Micron shareholders’ equity 38,996  35,881  32,294  18,621  12,080  12,302 
Solvency Ratio
Debt to equity (including operating lease liability)1 0.19 0.16 0.14 0.60 0.82 0.60
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Advanced Micro Devices Inc. 0.26 0.99 2.28 3.45
Cisco Systems Inc. 0.41 0.73 0.59 0.51 0.45 0.42
Intel Corp. 0.38 0.35 0.39 0.38 0.37
Lam Research Corp. 1.16 0.96 0.37 0.40 0.74 0.46
NVIDIA Corp. 0.22 0.21 0.27 0.48 0.32 0.32
Texas Instruments Inc. 0.69 0.56 0.39 0.34 0.41
Debt to Equity (including Operating Lease Liability), Sector
Technology Hardware & Equipment 0.77 0.70 0.66 0.54 0.47
Debt to Equity (including Operating Lease Liability), Industry
Technology 0.61 0.57 0.59 0.48 0.43

Based on: 10-K (filing date: 2020-10-19), 10-K (filing date: 2019-10-17), 10-K (filing date: 2018-10-15), 10-K (filing date: 2017-10-26), 10-K (filing date: 2016-10-28), 10-K (filing date: 2015-10-27).

1 2020 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Micron shareholders’ equity
= 7,230 ÷ 38,996 = 0.19

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Micron Technology Inc.’s debt to equity ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020.

Debt to Capital

Micron Technology Inc., debt to capital calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 3, 2020 Aug 29, 2019 Aug 30, 2018 Aug 31, 2017 Sep 1, 2016 Sep 3, 2015
Selected Financial Data (US$ in millions)
Current debt 270  1,310  859  1,262  756  1,089 
Long-term debt 6,373  4,541  3,777  9,872  9,154  6,252 
Total debt 6,643  5,851  4,636  11,134  9,910  7,341 
Total Micron shareholders’ equity 38,996  35,881  32,294  18,621  12,080  12,302 
Total capital 45,639  41,732  36,930  29,755  21,990  19,643 
Solvency Ratio
Debt to capital1 0.15 0.14 0.13 0.37 0.45 0.37
Benchmarks
Debt to Capital, Competitors2
Advanced Micro Devices Inc. 0.15 0.50 0.70 0.78 1.22
Analog Devices Inc. 0.32 0.37 0.44 0.25 0.15
Apple Inc. 0.54 0.52 0.46 0.40 0.35
Applied Materials Inc. 0.39 0.44 0.36 0.32 0.37
Broadcom Inc. 0.57 0.40 0.46 0.42 0.46
Cisco Systems Inc. 0.28 0.42 0.37 0.34 0.31 0.30
Intel Corp. 0.27 0.26 0.28 0.28 0.27
Lam Research Corp. 0.53 0.49 0.27 0.28 0.42 0.32
NVIDIA Corp. 0.14 0.18 0.21 0.33 0.24 0.24
Qualcomm Inc. 0.76 0.95 0.42 0.27 0.26
Texas Instruments Inc. 0.39 0.36 0.28 0.26 0.29
Debt to Capital, Sector
Technology Hardware & Equipment 0.43 0.41 0.40 0.35 0.32
Debt to Capital, Industry
Technology 0.36 0.36 0.37 0.33 0.30

Based on: 10-K (filing date: 2020-10-19), 10-K (filing date: 2019-10-17), 10-K (filing date: 2018-10-15), 10-K (filing date: 2017-10-26), 10-K (filing date: 2016-10-28), 10-K (filing date: 2015-10-27).

1 2020 Calculation
Debt to capital = Total debt ÷ Total capital
= 6,643 ÷ 45,639 = 0.15

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Micron Technology Inc.’s debt to capital ratio deteriorated from 2018 to 2019 and from 2019 to 2020.

Debt to Capital (including Operating Lease Liability)

Micron Technology Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 3, 2020 Aug 29, 2019 Aug 30, 2018 Aug 31, 2017 Sep 1, 2016 Sep 3, 2015
Selected Financial Data (US$ in millions)
Current debt 270  1,310  859  1,262  756  1,089 
Long-term debt 6,373  4,541  3,777  9,872  9,154  6,252 
Total debt 6,643  5,851  4,636  11,134  9,910  7,341 
Current operating lease liabilities 54  —  —  —  —  — 
Noncurrent operating lease liabilities 533  —  —  —  —  — 
Total debt (including operating lease liability) 7,230  5,851  4,636  11,134  9,910  7,341 
Total Micron shareholders’ equity 38,996  35,881  32,294  18,621  12,080  12,302 
Total capital (including operating lease liability) 46,226  41,732  36,930  29,755  21,990  19,643 
Solvency Ratio
Debt to capital (including operating lease liability)1 0.16 0.14 0.13 0.37 0.45 0.37
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Advanced Micro Devices Inc. 0.20 0.50 0.70 0.78 1.22
Cisco Systems Inc. 0.29 0.42 0.37 0.34 0.31 0.30
Intel Corp. 0.28 0.26 0.28 0.28 0.27
Lam Research Corp. 0.54 0.49 0.27 0.28 0.42 0.32
NVIDIA Corp. 0.18 0.18 0.21 0.33 0.24 0.24
Texas Instruments Inc. 0.41 0.36 0.28 0.26 0.29
Debt to Capital (including Operating Lease Liability), Sector
Technology Hardware & Equipment 0.44 0.41 0.40 0.35 0.32
Debt to Capital (including Operating Lease Liability), Industry
Technology 0.38 0.36 0.37 0.33 0.30

Based on: 10-K (filing date: 2020-10-19), 10-K (filing date: 2019-10-17), 10-K (filing date: 2018-10-15), 10-K (filing date: 2017-10-26), 10-K (filing date: 2016-10-28), 10-K (filing date: 2015-10-27).

1 2020 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 7,230 ÷ 46,226 = 0.16

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Micron Technology Inc.’s debt to capital ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020.

Debt to Assets

Micron Technology Inc., debt to assets calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 3, 2020 Aug 29, 2019 Aug 30, 2018 Aug 31, 2017 Sep 1, 2016 Sep 3, 2015
Selected Financial Data (US$ in millions)
Current debt 270  1,310  859  1,262  756  1,089 
Long-term debt 6,373  4,541  3,777  9,872  9,154  6,252 
Total debt 6,643  5,851  4,636  11,134  9,910  7,341 
 
Total assets 53,678  48,887  43,376  35,336  27,540  24,143 
Solvency Ratio
Debt to assets1 0.12 0.12 0.11 0.32 0.36 0.30
Benchmarks
Debt to Assets, Competitors2
Advanced Micro Devices Inc. 0.08 0.27 0.39 0.43 0.73
Analog Devices Inc. 0.26 0.31 0.37 0.22 0.12
Apple Inc. 0.32 0.31 0.31 0.27 0.22
Applied Materials Inc. 0.28 0.30 0.27 0.23 0.30
Broadcom Inc. 0.49 0.35 0.32 0.27 0.37
Cisco Systems Inc. 0.15 0.25 0.24 0.26 0.24 0.22
Intel Corp. 0.21 0.21 0.22 0.22 0.22
Lam Research Corp. 0.40 0.37 0.19 0.22 0.35 0.25
NVIDIA Corp. 0.11 0.15 0.18 0.28 0.19 0.19
Qualcomm Inc. 0.48 0.50 0.33 0.22 0.22
Texas Instruments Inc. 0.32 0.30 0.23 0.22 0.25
Debt to Assets, Sector
Technology Hardware & Equipment 0.30 0.28 0.29 0.26 0.23
Debt to Assets, Industry
Technology 0.24 0.25 0.27 0.24 0.22

Based on: 10-K (filing date: 2020-10-19), 10-K (filing date: 2019-10-17), 10-K (filing date: 2018-10-15), 10-K (filing date: 2017-10-26), 10-K (filing date: 2016-10-28), 10-K (filing date: 2015-10-27).

1 2020 Calculation
Debt to assets = Total debt ÷ Total assets
= 6,643 ÷ 53,678 = 0.12

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Micron Technology Inc.’s debt to assets ratio deteriorated from 2018 to 2019 and from 2019 to 2020.

Debt to Assets (including Operating Lease Liability)

Micron Technology Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 3, 2020 Aug 29, 2019 Aug 30, 2018 Aug 31, 2017 Sep 1, 2016 Sep 3, 2015
Selected Financial Data (US$ in millions)
Current debt 270  1,310  859  1,262  756  1,089 
Long-term debt 6,373  4,541  3,777  9,872  9,154  6,252 
Total debt 6,643  5,851  4,636  11,134  9,910  7,341 
Current operating lease liabilities 54  —  —  —  —  — 
Noncurrent operating lease liabilities 533  —  —  —  —  — 
Total debt (including operating lease liability) 7,230  5,851  4,636  11,134  9,910  7,341 
 
Total assets 53,678  48,887  43,376  35,336  27,540  24,143 
Solvency Ratio
Debt to assets (including operating lease liability)1 0.13 0.12 0.11 0.32 0.36 0.30
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Advanced Micro Devices Inc. 0.12 0.27 0.39 0.43 0.73
Cisco Systems Inc. 0.16 0.25 0.24 0.26 0.24 0.22
Intel Corp. 0.22 0.21 0.22 0.22 0.22
Lam Research Corp. 0.41 0.37 0.19 0.22 0.35 0.25
NVIDIA Corp. 0.15 0.15 0.18 0.28 0.19 0.19
Texas Instruments Inc. 0.34 0.30 0.23 0.22 0.25
Debt to Assets (including Operating Lease Liability), Sector
Technology Hardware & Equipment 0.30 0.28 0.29 0.26 0.23
Debt to Assets (including Operating Lease Liability), Industry
Technology 0.26 0.25 0.27 0.24 0.22

Based on: 10-K (filing date: 2020-10-19), 10-K (filing date: 2019-10-17), 10-K (filing date: 2018-10-15), 10-K (filing date: 2017-10-26), 10-K (filing date: 2016-10-28), 10-K (filing date: 2015-10-27).

1 2020 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 7,230 ÷ 53,678 = 0.13

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Micron Technology Inc.’s debt to assets ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020.

Financial Leverage

Micron Technology Inc., financial leverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 3, 2020 Aug 29, 2019 Aug 30, 2018 Aug 31, 2017 Sep 1, 2016 Sep 3, 2015
Selected Financial Data (US$ in millions)
Total assets 53,678  48,887  43,376  35,336  27,540  24,143 
Total Micron shareholders’ equity 38,996  35,881  32,294  18,621  12,080  12,302 
Solvency Ratio
Financial leverage1 1.38 1.36 1.34 1.90 2.28 1.96
Benchmarks
Financial Leverage, Competitors2
Advanced Micro Devices Inc. 2.13 3.60 5.79 7.98
Analog Devices Inc. 1.83 1.86 2.08 1.54 1.39
Apple Inc. 3.74 3.41 2.80 2.51 2.43
Applied Materials Inc. 2.32 2.60 2.08 2.02 2.01
Broadcom Inc. 2.71 1.88 2.68 2.64 2.25
Cisco Systems Inc. 2.50 2.91 2.52 1.96 1.91 1.90
Intel Corp. 1.76 1.72 1.79 1.71 1.69
Lam Research Corp. 2.81 2.57 1.92 1.78 2.08 1.84
NVIDIA Corp. 1.42 1.42 1.50 1.71 1.65 1.63
Qualcomm Inc. 6.71 35.22 2.13 1.65 1.62
Texas Instruments Inc. 2.02 1.91 1.71 1.57 1.63
Financial Leverage, Sector
Technology Hardware & Equipment 2.59 2.49 2.27 2.11 2.03
Financial Leverage, Industry
Technology 2.32 2.27 2.20 2.04 1.99

Based on: 10-K (filing date: 2020-10-19), 10-K (filing date: 2019-10-17), 10-K (filing date: 2018-10-15), 10-K (filing date: 2017-10-26), 10-K (filing date: 2016-10-28), 10-K (filing date: 2015-10-27).

1 2020 Calculation
Financial leverage = Total assets ÷ Total Micron shareholders’ equity
= 53,678 ÷ 38,996 = 1.38

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Micron Technology Inc.’s financial leverage ratio increased from 2018 to 2019 and from 2019 to 2020.

Interest Coverage

Micron Technology Inc., interest coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 3, 2020 Aug 29, 2019 Aug 30, 2018 Aug 31, 2017 Sep 1, 2016 Sep 3, 2015
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Micron 2,687  6,313  14,135  5,089  (276) 2,899 
Add: Net income attributable to noncontrolling interest 23  45  — 
Add: Income tax expense 280  693  168  114  19  157 
Add: Interest expense 194  128  342  601  437  371 
Earnings before interest and tax (EBIT) 3,184  7,179  14,648  5,805  181  3,427 
Solvency Ratio
Interest coverage1 16.41 56.09 42.83 9.66 0.41 9.24
Benchmarks
Interest Coverage, Competitors2
Advanced Micro Devices Inc. 4.96 3.71 1.49 -1.94 -3.04
Analog Devices Inc. 7.49 7.46 4.30 11.78 30.97
Apple Inc. 19.38 23.50 28.59 43.15 99.93
Applied Materials Inc. 14.79 21.06 19.84 13.99 16.51
Broadcom Inc. 2.54 8.24 5.02 -0.89 8.68
Cisco Systems Inc. 24.88 17.96 14.83 15.27 20.11 20.79
Intel Corp. 50.20 50.82 32.50 18.65 43.17
Lam Research Corp. 15.51 21.86 33.36 16.39 8.12 11.05
NVIDIA Corp. 58.12 68.17 53.39 33.84 16.81 17.36
Qualcomm Inc. 12.93 1.67 7.11 24.01 63.38
Texas Instruments Inc. 34.69 54.49 78.95 62.63 47.84
Interest Coverage, Sector
Technology Hardware & Equipment 18.23 21.37 20.52 22.02 42.55
Interest Coverage, Industry
Technology 19.75 21.76 20.41 22.53 35.53

Based on: 10-K (filing date: 2020-10-19), 10-K (filing date: 2019-10-17), 10-K (filing date: 2018-10-15), 10-K (filing date: 2017-10-26), 10-K (filing date: 2016-10-28), 10-K (filing date: 2015-10-27).

1 2020 Calculation
Interest coverage = EBIT ÷ Interest expense
= 3,184 ÷ 194 = 16.41

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Micron Technology Inc.’s interest coverage ratio improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.

Fixed Charge Coverage

Micron Technology Inc., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 3, 2020 Aug 29, 2019 Aug 30, 2018 Aug 31, 2017 Sep 1, 2016 Sep 3, 2015
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Micron 2,687  6,313  14,135  5,089  (276) 2,899 
Add: Net income attributable to noncontrolling interest 23  45  — 
Add: Income tax expense 280  693  168  114  19  157 
Add: Interest expense 194  128  342  601  437  371 
Earnings before interest and tax (EBIT) 3,184  7,179  14,648  5,805  181  3,427 
Add: Operating lease cost 102  93  63  52  46  48 
Earnings before fixed charges and tax 3,286  7,272  14,711  5,857  227  3,475 
 
Interest expense 194  128  342  601  437  371 
Operating lease cost 102  93  63  52  46  48 
Fixed charges 296  221  405  653  483  419 
Solvency Ratio
Fixed charge coverage1 11.10 32.90 36.32 8.97 0.47 8.29
Benchmarks
Fixed Charge Coverage, Competitors2
Advanced Micro Devices Inc. 3.48 2.89 1.36 -1.35 -2.12
Analog Devices Inc. 5.62 5.84 3.68 7.50 11.28
Apple Inc. 14.48 17.42 19.72 26.63 48.49
Applied Materials Inc. 12.35 17.53 17.08 11.43 12.84
Broadcom Inc. 2.27 6.28 3.58 -0.36 6.47
Cisco Systems Inc. 14.79 12.28 10.41 10.72 13.18 12.67
Intel Corp. 36.69 34.36 23.36 13.74 25.09
Lam Research Corp. 12.52 17.83 27.07 14.13 7.36 9.35
NVIDIA Corp. 18.89 29.23 28.79 19.32 9.08 9.08
Qualcomm Inc. 10.68 1.55 5.85 17.54 32.96
Texas Instruments Inc. 21.68 33.77 39.24 30.70 23.43
Fixed Charge Coverage, Sector
Technology Hardware & Equipment 13.71 15.90 14.94 15.29 25.47
Fixed Charge Coverage, Industry
Technology 11.68 13.28 12.39 13.10 16.53

Based on: 10-K (filing date: 2020-10-19), 10-K (filing date: 2019-10-17), 10-K (filing date: 2018-10-15), 10-K (filing date: 2017-10-26), 10-K (filing date: 2016-10-28), 10-K (filing date: 2015-10-27).

1 2020 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 3,286 ÷ 296 = 11.10

2 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Micron Technology Inc.’s fixed charge coverage ratio deteriorated from 2018 to 2019 and from 2019 to 2020.