Analysis of Solvency Ratios
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Micron Technology Inc., solvency ratios
Based on: 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).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Micron Technology Inc. debt to equity ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
| 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. debt to equity ratio (including operating lease liability) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Micron Technology Inc. debt to capital ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
| 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. debt to capital ratio (including operating lease liability) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Micron Technology Inc. debt to assets ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
| 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. debt to assets ratio (including operating lease liability) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Micron Technology Inc. financial leverage ratio increased from 2019 to 2020 but then decreased significantly from 2020 to 2021. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Micron Technology Inc. interest coverage ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Micron Technology Inc. fixed charge coverage ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
Debt to Equity
Micron Technology Inc., debt to equity calculation, comparison to benchmarks
| Sep 2, 2021 | Sep 3, 2020 | Aug 29, 2019 | Aug 30, 2018 | Aug 31, 2017 | Sep 1, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current debt | 155 | 270 | 1,310 | 859 | 1,262 | 756 | |
| Long-term debt | 6,621 | 6,373 | 4,541 | 3,777 | 9,872 | 9,154 | |
| Total debt | 6,776 | 6,643 | 5,851 | 4,636 | 11,134 | 9,910 | |
| Total Micron shareholders’ equity | 43,933 | 38,996 | 35,881 | 32,294 | 18,621 | 12,080 | |
| Solvency Ratio | |||||||
| Debt to equity1 | 0.15 | 0.17 | 0.16 | 0.14 | 0.60 | 0.82 | |
| Benchmarks | |||||||
| Debt to Equity, Competitors2 | |||||||
| Advanced Micro Devices Inc. | 0.04 | 0.06 | 0.17 | 0.99 | 2.28 | — | |
| Analog Devices Inc. | 0.18 | 0.43 | 0.47 | 0.58 | 0.77 | 0.34 | |
| Applied Materials Inc. | 0.45 | 0.52 | 0.65 | 0.78 | 0.57 | 0.46 | |
| Broadcom Inc. | 1.59 | 1.72 | 1.32 | 0.66 | 0.87 | 0.72 | |
| Intel Corp. | 0.40 | 0.45 | 0.37 | 0.35 | 0.39 | — | |
| Lam Research Corp. | 0.83 | 1.12 | 0.96 | 0.37 | 0.40 | 0.74 | |
| NVIDIA Corp. | 0.41 | 0.16 | 0.21 | 0.27 | 0.48 | — | |
| Qualcomm Inc. | 1.58 | 2.59 | 3.25 | 17.64 | 0.71 | 0.37 | |
| Texas Instruments Inc. | 0.58 | 0.74 | 0.65 | 0.56 | 0.39 | — | |
| Debt to Equity, Sector | |||||||
| Semiconductors & Semiconductor Equipment | 0.49 | 0.61 | 0.57 | 0.49 | 0.56 | — | |
| Debt to Equity, Industry | |||||||
| Information Technology | 0.74 | 0.83 | 0.81 | 0.80 | 0.78 | — | |
Based on: 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).
1 2021 Calculation
Debt to equity = Total debt ÷ Total Micron shareholders’ equity
= 6,776 ÷ 43,933 = 0.15
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. debt to equity ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Debt to Equity (including Operating Lease Liability)
Micron Technology Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| Sep 2, 2021 | Sep 3, 2020 | Aug 29, 2019 | Aug 30, 2018 | Aug 31, 2017 | Sep 1, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current debt | 155 | 270 | 1,310 | 859 | 1,262 | 756 | |
| Long-term debt | 6,621 | 6,373 | 4,541 | 3,777 | 9,872 | 9,154 | |
| Total debt | 6,776 | 6,643 | 5,851 | 4,636 | 11,134 | 9,910 | |
| Current operating lease liabilities (included in Accounts payable and accrued expenses) | 55 | 54 | — | — | — | — | |
| Noncurrent operating lease liabilities | 504 | 533 | — | — | — | — | |
| Total debt (including operating lease liability) | 7,335 | 7,230 | 5,851 | 4,636 | 11,134 | 9,910 | |
| Total Micron shareholders’ equity | 43,933 | 38,996 | 35,881 | 32,294 | 18,621 | 12,080 | |
| Solvency Ratio | |||||||
| Debt to equity (including operating lease liability)1 | 0.17 | 0.19 | 0.16 | 0.14 | 0.60 | 0.82 | |
| Benchmarks | |||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | |||||||
| Advanced Micro Devices Inc. | 0.10 | 0.10 | 0.26 | 0.99 | 2.28 | — | |
| Analog Devices Inc. | 0.19 | 0.46 | 0.47 | 0.58 | 0.77 | 0.34 | |
| Applied Materials Inc. | 0.47 | 0.54 | 0.65 | 0.78 | 0.57 | 0.46 | |
| Broadcom Inc. | 1.61 | 1.75 | 1.32 | 0.66 | 0.87 | 0.72 | |
| Intel Corp. | 0.40 | 0.46 | 0.38 | 0.35 | 0.39 | — | |
| Lam Research Corp. | 0.86 | 1.16 | 0.96 | 0.37 | 0.40 | 0.74 | |
| NVIDIA Corp. | 0.46 | 0.22 | 0.21 | 0.27 | 0.48 | — | |
| Qualcomm Inc. | 1.64 | 2.67 | 3.25 | 17.64 | 0.71 | 0.37 | |
| Texas Instruments Inc. | 0.62 | 0.77 | 0.69 | 0.56 | 0.39 | — | |
| Debt to Equity (including Operating Lease Liability), Sector | |||||||
| Semiconductors & Semiconductor Equipment | 0.51 | 0.63 | 0.57 | 0.49 | 0.56 | — | |
| Debt to Equity (including Operating Lease Liability), Industry | |||||||
| Information Technology | 0.80 | 0.90 | 0.84 | 0.81 | 0.78 | — | |
Based on: 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).
1 2021 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Micron shareholders’ equity
= 7,335 ÷ 43,933 = 0.17
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. debt to equity ratio (including operating lease liability) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
Debt to Capital
Micron Technology Inc., debt to capital calculation, comparison to benchmarks
| Sep 2, 2021 | Sep 3, 2020 | Aug 29, 2019 | Aug 30, 2018 | Aug 31, 2017 | Sep 1, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current debt | 155 | 270 | 1,310 | 859 | 1,262 | 756 | |
| Long-term debt | 6,621 | 6,373 | 4,541 | 3,777 | 9,872 | 9,154 | |
| Total debt | 6,776 | 6,643 | 5,851 | 4,636 | 11,134 | 9,910 | |
| Total Micron shareholders’ equity | 43,933 | 38,996 | 35,881 | 32,294 | 18,621 | 12,080 | |
| Total capital | 50,709 | 45,639 | 41,732 | 36,930 | 29,755 | 21,990 | |
| Solvency Ratio | |||||||
| Debt to capital1 | 0.13 | 0.15 | 0.14 | 0.13 | 0.37 | 0.45 | |
| Benchmarks | |||||||
| Debt to Capital, Competitors2 | |||||||
| Advanced Micro Devices Inc. | 0.04 | 0.05 | 0.15 | 0.50 | 0.70 | — | |
| Analog Devices Inc. | 0.15 | 0.30 | 0.32 | 0.37 | 0.44 | 0.25 | |
| Applied Materials Inc. | 0.31 | 0.34 | 0.39 | 0.44 | 0.36 | 0.32 | |
| Broadcom Inc. | 0.61 | 0.63 | 0.57 | 0.40 | 0.46 | 0.42 | |
| Intel Corp. | 0.29 | 0.31 | 0.27 | 0.26 | 0.28 | — | |
| Lam Research Corp. | 0.45 | 0.53 | 0.49 | 0.27 | 0.28 | 0.42 | |
| NVIDIA Corp. | 0.29 | 0.14 | 0.18 | 0.21 | 0.33 | — | |
| Qualcomm Inc. | 0.61 | 0.72 | 0.76 | 0.95 | 0.42 | 0.27 | |
| Texas Instruments Inc. | 0.37 | 0.43 | 0.39 | 0.36 | 0.28 | — | |
| Debt to Capital, Sector | |||||||
| Semiconductors & Semiconductor Equipment | 0.33 | 0.38 | 0.36 | 0.33 | 0.36 | — | |
| Debt to Capital, Industry | |||||||
| Information Technology | 0.43 | 0.45 | 0.45 | 0.44 | 0.44 | — | |
Based on: 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).
1 2021 Calculation
Debt to capital = Total debt ÷ Total capital
= 6,776 ÷ 50,709 = 0.13
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. debt to capital ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Debt to Capital (including Operating Lease Liability)
Micron Technology Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| Sep 2, 2021 | Sep 3, 2020 | Aug 29, 2019 | Aug 30, 2018 | Aug 31, 2017 | Sep 1, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current debt | 155 | 270 | 1,310 | 859 | 1,262 | 756 | |
| Long-term debt | 6,621 | 6,373 | 4,541 | 3,777 | 9,872 | 9,154 | |
| Total debt | 6,776 | 6,643 | 5,851 | 4,636 | 11,134 | 9,910 | |
| Current operating lease liabilities (included in Accounts payable and accrued expenses) | 55 | 54 | — | — | — | — | |
| Noncurrent operating lease liabilities | 504 | 533 | — | — | — | — | |
| Total debt (including operating lease liability) | 7,335 | 7,230 | 5,851 | 4,636 | 11,134 | 9,910 | |
| Total Micron shareholders’ equity | 43,933 | 38,996 | 35,881 | 32,294 | 18,621 | 12,080 | |
| Total capital (including operating lease liability) | 51,268 | 46,226 | 41,732 | 36,930 | 29,755 | 21,990 | |
| Solvency Ratio | |||||||
| Debt to capital (including operating lease liability)1 | 0.14 | 0.16 | 0.14 | 0.13 | 0.37 | 0.45 | |
| Benchmarks | |||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | |||||||
| Advanced Micro Devices Inc. | 0.09 | 0.09 | 0.20 | 0.50 | 0.70 | — | |
| Analog Devices Inc. | 0.16 | 0.31 | 0.32 | 0.37 | 0.44 | 0.25 | |
| Applied Materials Inc. | 0.32 | 0.35 | 0.39 | 0.44 | 0.36 | 0.32 | |
| Broadcom Inc. | 0.62 | 0.64 | 0.57 | 0.40 | 0.46 | 0.42 | |
| Intel Corp. | 0.29 | 0.31 | 0.28 | 0.26 | 0.28 | — | |
| Lam Research Corp. | 0.46 | 0.54 | 0.49 | 0.27 | 0.28 | 0.42 | |
| NVIDIA Corp. | 0.31 | 0.18 | 0.18 | 0.21 | 0.33 | — | |
| Qualcomm Inc. | 0.62 | 0.73 | 0.76 | 0.95 | 0.42 | 0.27 | |
| Texas Instruments Inc. | 0.38 | 0.44 | 0.41 | 0.36 | 0.28 | — | |
| Debt to Capital (including Operating Lease Liability), Sector | |||||||
| Semiconductors & Semiconductor Equipment | 0.34 | 0.39 | 0.36 | 0.33 | 0.36 | — | |
| Debt to Capital (including Operating Lease Liability), Industry | |||||||
| Information Technology | 0.45 | 0.47 | 0.46 | 0.45 | 0.44 | — | |
Based on: 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).
1 2021 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 7,335 ÷ 51,268 = 0.14
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. debt to capital ratio (including operating lease liability) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
Debt to Assets
Micron Technology Inc., debt to assets calculation, comparison to benchmarks
| Sep 2, 2021 | Sep 3, 2020 | Aug 29, 2019 | Aug 30, 2018 | Aug 31, 2017 | Sep 1, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current debt | 155 | 270 | 1,310 | 859 | 1,262 | 756 | |
| Long-term debt | 6,621 | 6,373 | 4,541 | 3,777 | 9,872 | 9,154 | |
| Total debt | 6,776 | 6,643 | 5,851 | 4,636 | 11,134 | 9,910 | |
| Total assets | 58,849 | 53,678 | 48,887 | 43,376 | 35,336 | 27,540 | |
| Solvency Ratio | |||||||
| Debt to assets1 | 0.12 | 0.12 | 0.12 | 0.11 | 0.32 | 0.36 | |
| Benchmarks | |||||||
| Debt to Assets, Competitors2 | |||||||
| Advanced Micro Devices Inc. | 0.03 | 0.04 | 0.08 | 0.27 | 0.39 | — | |
| Analog Devices Inc. | 0.13 | 0.24 | 0.26 | 0.31 | 0.37 | 0.22 | |
| Applied Materials Inc. | 0.21 | 0.24 | 0.28 | 0.30 | 0.27 | 0.23 | |
| Broadcom Inc. | 0.53 | 0.54 | 0.49 | 0.35 | 0.32 | 0.27 | |
| Intel Corp. | 0.23 | 0.24 | 0.21 | 0.21 | 0.22 | — | |
| Lam Research Corp. | 0.31 | 0.40 | 0.37 | 0.19 | 0.22 | 0.35 | |
| NVIDIA Corp. | 0.24 | 0.11 | 0.15 | 0.18 | 0.28 | — | |
| Qualcomm Inc. | 0.38 | 0.44 | 0.48 | 0.50 | 0.33 | 0.22 | |
| Texas Instruments Inc. | 0.31 | 0.35 | 0.32 | 0.30 | 0.23 | — | |
| Debt to Assets, Sector | |||||||
| Semiconductors & Semiconductor Equipment | 0.26 | 0.30 | 0.29 | 0.26 | 0.28 | — | |
| Debt to Assets, Industry | |||||||
| Information Technology | 0.27 | 0.29 | 0.29 | 0.29 | 0.30 | — | |
Based on: 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).
1 2021 Calculation
Debt to assets = Total debt ÷ Total assets
= 6,776 ÷ 58,849 = 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. debt to assets ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Debt to Assets (including Operating Lease Liability)
Micron Technology Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| Sep 2, 2021 | Sep 3, 2020 | Aug 29, 2019 | Aug 30, 2018 | Aug 31, 2017 | Sep 1, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current debt | 155 | 270 | 1,310 | 859 | 1,262 | 756 | |
| Long-term debt | 6,621 | 6,373 | 4,541 | 3,777 | 9,872 | 9,154 | |
| Total debt | 6,776 | 6,643 | 5,851 | 4,636 | 11,134 | 9,910 | |
| Current operating lease liabilities (included in Accounts payable and accrued expenses) | 55 | 54 | — | — | — | — | |
| Noncurrent operating lease liabilities | 504 | 533 | — | — | — | — | |
| Total debt (including operating lease liability) | 7,335 | 7,230 | 5,851 | 4,636 | 11,134 | 9,910 | |
| Total assets | 58,849 | 53,678 | 48,887 | 43,376 | 35,336 | 27,540 | |
| Solvency Ratio | |||||||
| Debt to assets (including operating lease liability)1 | 0.12 | 0.13 | 0.12 | 0.11 | 0.32 | 0.36 | |
| Benchmarks | |||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | |||||||
| Advanced Micro Devices Inc. | 0.06 | 0.06 | 0.12 | 0.27 | 0.39 | — | |
| Analog Devices Inc. | 0.14 | 0.25 | 0.26 | 0.31 | 0.37 | 0.22 | |
| Applied Materials Inc. | 0.22 | 0.26 | 0.28 | 0.30 | 0.27 | 0.23 | |
| Broadcom Inc. | 0.53 | 0.55 | 0.49 | 0.35 | 0.32 | 0.27 | |
| Intel Corp. | 0.23 | 0.24 | 0.22 | 0.21 | 0.22 | — | |
| Lam Research Corp. | 0.33 | 0.41 | 0.37 | 0.19 | 0.22 | 0.35 | |
| NVIDIA Corp. | 0.27 | 0.15 | 0.15 | 0.18 | 0.28 | — | |
| Qualcomm Inc. | 0.40 | 0.46 | 0.48 | 0.50 | 0.33 | 0.22 | |
| Texas Instruments Inc. | 0.33 | 0.37 | 0.34 | 0.30 | 0.23 | — | |
| Debt to Assets (including Operating Lease Liability), Sector | |||||||
| Semiconductors & Semiconductor Equipment | 0.27 | 0.31 | 0.29 | 0.26 | 0.28 | — | |
| Debt to Assets (including Operating Lease Liability), Industry | |||||||
| Information Technology | 0.29 | 0.31 | 0.30 | 0.29 | 0.30 | — | |
Based on: 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).
1 2021 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 7,335 ÷ 58,849 = 0.12
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. debt to assets ratio (including operating lease liability) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
Financial Leverage
Micron Technology Inc., financial leverage calculation, comparison to benchmarks
| Sep 2, 2021 | Sep 3, 2020 | Aug 29, 2019 | Aug 30, 2018 | Aug 31, 2017 | Sep 1, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Total assets | 58,849 | 53,678 | 48,887 | 43,376 | 35,336 | 27,540 | |
| Total Micron shareholders’ equity | 43,933 | 38,996 | 35,881 | 32,294 | 18,621 | 12,080 | |
| Solvency Ratio | |||||||
| Financial leverage1 | 1.34 | 1.38 | 1.36 | 1.34 | 1.90 | 2.28 | |
| Benchmarks | |||||||
| Financial Leverage, Competitors2 | |||||||
| Advanced Micro Devices Inc. | 1.66 | 1.54 | 2.13 | 3.60 | 5.79 | — | |
| Analog Devices Inc. | 1.38 | 1.79 | 1.83 | 1.86 | 2.08 | 1.54 | |
| Applied Materials Inc. | 2.11 | 2.11 | 2.32 | 2.60 | 2.08 | 2.02 | |
| Broadcom Inc. | 3.03 | 3.18 | 2.71 | 1.88 | 2.68 | 2.64 | |
| Intel Corp. | 1.77 | 1.89 | 1.76 | 1.72 | 1.79 | — | |
| Lam Research Corp. | 2.64 | 2.81 | 2.57 | 1.92 | 1.78 | 2.08 | |
| NVIDIA Corp. | 1.70 | 1.42 | 1.42 | 1.50 | 1.71 | — | |
| Qualcomm Inc. | 4.14 | 5.86 | 6.71 | 35.22 | 2.13 | 1.65 | |
| Texas Instruments Inc. | 1.85 | 2.11 | 2.02 | 1.91 | 1.71 | — | |
| Financial Leverage, Sector | |||||||
| Semiconductors & Semiconductor Equipment | 1.88 | 2.06 | 1.99 | 1.91 | 1.99 | — | |
| Financial Leverage, Industry | |||||||
| Information Technology | 2.73 | 2.86 | 2.81 | 2.80 | 2.61 | — | |
Based on: 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).
1 2021 Calculation
Financial leverage = Total assets ÷ Total Micron shareholders’ equity
= 58,849 ÷ 43,933 = 1.34
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. financial leverage ratio increased from 2019 to 2020 but then decreased significantly from 2020 to 2021. |
Interest Coverage
Micron Technology Inc., interest coverage calculation, comparison to benchmarks
| Sep 2, 2021 | Sep 3, 2020 | Aug 29, 2019 | Aug 30, 2018 | Aug 31, 2017 | Sep 1, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net income (loss) attributable to Micron | 5,861 | 2,687 | 6,313 | 14,135 | 5,089 | (276) | |
| Add: Net income attributable to noncontrolling interest | — | 23 | 45 | 3 | 1 | 1 | |
| Add: Income tax expense | 394 | 280 | 693 | 168 | 114 | 19 | |
| Add: Interest expense | 183 | 194 | 128 | 342 | 601 | 437 | |
| Earnings before interest and tax (EBIT) | 6,438 | 3,184 | 7,179 | 14,648 | 5,805 | 181 | |
| Solvency Ratio | |||||||
| Interest coverage1 | 35.18 | 16.41 | 56.09 | 42.83 | 9.66 | 0.41 | |
| Benchmarks | |||||||
| Interest Coverage, Competitors2 | |||||||
| Advanced Micro Devices Inc. | 109.09 | 28.23 | 4.96 | 3.71 | 1.49 | — | |
| Analog Devices Inc. | 8.19 | 7.79 | 7.49 | 7.46 | 4.30 | 11.78 | |
| Applied Materials Inc. | 29.69 | 18.36 | 14.79 | 21.06 | 19.84 | 13.99 | |
| Broadcom Inc. | 4.59 | 2.37 | 2.54 | 8.24 | 5.02 | -0.89 | |
| Intel Corp. | 37.35 | 40.87 | 50.20 | 50.82 | 32.50 | — | |
| Lam Research Corp. | 21.95 | 15.51 | 21.86 | 33.36 | 16.39 | 8.12 | |
| NVIDIA Corp. | 24.96 | 58.12 | 68.17 | 53.39 | 33.84 | — | |
| Qualcomm Inc. | 19.38 | 10.50 | 12.93 | 1.67 | 7.11 | 24.01 | |
| Texas Instruments Inc. | 49.47 | 32.67 | 34.69 | 54.49 | 78.95 | — | |
| Interest Coverage, Sector | |||||||
| Semiconductors & Semiconductor Equipment | 18.50 | 14.30 | 17.14 | 21.13 | 15.82 | — | |
| Interest Coverage, Industry | |||||||
| Information Technology | 23.43 | 17.30 | 16.59 | 18.11 | 17.25 | — | |
Based on: 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).
1 2021 Calculation
Interest coverage = EBIT ÷ Interest expense
= 6,438 ÷ 183 = 35.18
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. interest coverage ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
Fixed Charge Coverage
Micron Technology Inc., fixed charge coverage calculation, comparison to benchmarks
| Sep 2, 2021 | Sep 3, 2020 | Aug 29, 2019 | Aug 30, 2018 | Aug 31, 2017 | Sep 1, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net income (loss) attributable to Micron | 5,861 | 2,687 | 6,313 | 14,135 | 5,089 | (276) | |
| Add: Net income attributable to noncontrolling interest | — | 23 | 45 | 3 | 1 | 1 | |
| Add: Income tax expense | 394 | 280 | 693 | 168 | 114 | 19 | |
| Add: Interest expense | 183 | 194 | 128 | 342 | 601 | 437 | |
| Earnings before interest and tax (EBIT) | 6,438 | 3,184 | 7,179 | 14,648 | 5,805 | 181 | |
| Add: Operating lease cost | 108 | 102 | 93 | 63 | 52 | 46 | |
| Earnings before fixed charges and tax | 6,546 | 3,286 | 7,272 | 14,711 | 5,857 | 227 | |
| Interest expense | 183 | 194 | 128 | 342 | 601 | 437 | |
| Operating lease cost | 108 | 102 | 93 | 63 | 52 | 46 | |
| Fixed charges | 291 | 296 | 221 | 405 | 653 | 483 | |
| Solvency Ratio | |||||||
| Fixed charge coverage1 | 22.49 | 11.10 | 32.90 | 36.32 | 8.97 | 0.47 | |
| Benchmarks | |||||||
| Fixed Charge Coverage, Competitors2 | |||||||
| Advanced Micro Devices Inc. | 36.00 | 13.08 | 3.48 | 2.89 | 1.36 | — | |
| Analog Devices Inc. | 6.64 | 6.48 | 5.62 | 5.84 | 3.68 | 7.50 | |
| Applied Materials Inc. | 22.50 | 14.48 | 12.35 | 17.53 | 17.08 | 11.43 | |
| Broadcom Inc. | 3.70 | 1.92 | 2.27 | 6.28 | 3.58 | -0.36 | |
| Intel Corp. | 16.56 | 25.00 | 36.69 | 34.36 | 23.36 | — | |
| Lam Research Corp. | 17.80 | 12.52 | 17.83 | 27.07 | 14.13 | 7.36 | |
| NVIDIA Corp. | 14.40 | 18.89 | 29.23 | 28.79 | 19.32 | — | |
| Qualcomm Inc. | 14.48 | 8.30 | 10.68 | 1.55 | 5.85 | 17.54 | |
| Texas Instruments Inc. | 29.86 | 21.33 | 21.68 | 33.77 | 39.24 | — | |
| Fixed Charge Coverage, Sector | |||||||
| Semiconductors & Semiconductor Equipment | 12.64 | 10.47 | 13.30 | 16.11 | 12.19 | — | |
| Fixed Charge Coverage, Industry | |||||||
| Information Technology | 13.91 | 10.65 | 10.90 | 11.70 | 10.99 | — | |
Based on: 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).
1 2021 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 6,546 ÷ 291 = 22.49
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. fixed charge coverage ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |