Stock Analysis on Net

Micron Technology Inc. (NASDAQ:MU)

Analysis of Long-term (Investment) Activity Ratios 

Microsoft Excel

Long-term Activity Ratios (Summary)

Micron Technology Inc., long-term (investment) activity ratios

Microsoft Excel
Sep 2, 2021 Sep 3, 2020 Aug 29, 2019 Aug 30, 2018 Aug 31, 2017 Sep 1, 2016
Net fixed asset turnover 0.83 0.69 0.83 1.28 1.05 0.84
Net fixed asset turnover (including operating lease, right-of-use asset) 0.82 0.68 0.83 1.28 1.05 0.84
Total asset turnover 0.47 0.40 0.48 0.70 0.58 0.45
Equity turnover 0.63 0.55 0.65 0.94 1.09 1.03

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).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Micron Technology Inc. net fixed asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Micron Technology Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Micron Technology Inc. total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Micron Technology Inc. equity turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.

Net Fixed Asset Turnover

Micron Technology Inc., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
Sep 2, 2021 Sep 3, 2020 Aug 29, 2019 Aug 30, 2018 Aug 31, 2017 Sep 1, 2016
Selected Financial Data (US$ in millions)
Revenue 27,705  21,435  23,406  30,391  20,322  12,399 
Property, plant, and equipment 33,213  31,031  28,240  23,672  19,431  14,686 
Long-term Activity Ratio
Net fixed asset turnover1 0.83 0.69 0.83 1.28 1.05 0.84
Benchmarks
Net Fixed Asset Turnover, Competitors2
Advanced Micro Devices Inc. 23.41 15.23 13.46 18.61 20.42
Analog Devices Inc. 3.70 5.00 4.91 5.37 4.61 5.38
Applied Materials Inc. 11.93 10.72 9.55 12.26 13.64 11.55
Broadcom Inc. 11.69 9.52 8.81 7.91 6.79 5.28
First Solar Inc. 1.10 1.13 1.40 1.28 2.55
Intel Corp. 1.25 1.38 1.30 1.45 1.53
KLA Corp. 10.44 11.17 10.18 14.10 12.25
Lam Research Corp. 11.22 9.37 9.12 12.27 11.69
NVIDIA Corp. 7.76 6.52 8.34 9.74 13.26
ON Semiconductor Corp. 2.65 2.09 2.13 2.31 2.43
Qualcomm Inc. 7.36 6.34 7.88 7.64 6.93 10.21
Texas Instruments Inc. 3.57 4.42 4.35 4.96 5.62
Net Fixed Asset Turnover, Sector
Semiconductors & Semiconductor Equipment 2.29 2.10 2.11 2.46 2.49
Net Fixed Asset Turnover, Industry
Information Technology 4.54 4.32 4.37 4.63 4.76

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
Net fixed asset turnover = Revenue ÷ Property, plant, and equipment
= 27,705 ÷ 33,213 = 0.83

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Micron Technology Inc. net fixed asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Micron Technology Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel
Sep 2, 2021 Sep 3, 2020 Aug 29, 2019 Aug 30, 2018 Aug 31, 2017 Sep 1, 2016
Selected Financial Data (US$ in millions)
Revenue 27,705  21,435  23,406  30,391  20,322  12,399 
 
Property, plant, and equipment 33,213  31,031  28,240  23,672  19,431  14,686 
Operating lease right-of-use assets 551  584  —  —  —  — 
Property, plant, and equipment (including operating lease, right-of-use asset) 33,764  31,615  28,240  23,672  19,431  14,686 
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 0.82 0.68 0.83 1.28 1.05 0.84
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Advanced Micro Devices Inc. 15.37 11.50 9.55 18.61 20.42
Analog Devices Inc. 3.24 4.07 4.91 5.37 4.61 5.38
Applied Materials Inc. 10.35 9.27 9.55 12.26 13.64 11.55
Broadcom Inc. 9.35 7.71 8.81 7.91 6.79 5.28
First Solar Inc. 1.02 1.03 1.32 1.28 2.55
Intel Corp. 1.24 1.36 1.28 1.45 1.53
KLA Corp. 9.03 9.36 10.18 14.10 12.25
Lam Research Corp. 9.90 8.06 9.12 12.27 11.69
NVIDIA Corp. 5.84 4.76 8.34 9.74 13.26
ON Semiconductor Corp. 2.48 1.98 2.04 2.31 2.43
Qualcomm Inc. 6.62 5.64 7.88 7.64 6.93 10.21
Texas Instruments Inc. 3.27 4.03 3.95 4.96 5.62
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Semiconductors & Semiconductor Equipment 2.20 2.02 2.08 2.46 2.49
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Information Technology 3.88 3.67 4.07 4.48 4.76

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
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenue ÷ Property, plant, and equipment (including operating lease, right-of-use asset)
= 27,705 ÷ 33,764 = 0.82

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Micron Technology Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.

Total Asset Turnover

Micron Technology Inc., total asset turnover calculation, comparison to benchmarks

Microsoft Excel
Sep 2, 2021 Sep 3, 2020 Aug 29, 2019 Aug 30, 2018 Aug 31, 2017 Sep 1, 2016
Selected Financial Data (US$ in millions)
Revenue 27,705  21,435  23,406  30,391  20,322  12,399 
Total assets 58,849  53,678  48,887  43,376  35,336  27,540 
Long-term Activity Ratio
Total asset turnover1 0.47 0.40 0.48 0.70 0.58 0.45
Benchmarks
Total Asset Turnover, Competitors2
Advanced Micro Devices Inc. 1.32 1.09 1.12 1.42 1.51
Analog Devices Inc. 0.14 0.26 0.28 0.30 0.24 0.43
Applied Materials Inc. 0.89 0.77 0.77 0.97 0.75 0.74
Broadcom Inc. 0.36 0.31 0.33 0.42 0.32 0.26
First Solar Inc. 0.39 0.38 0.41 0.32 0.43
Intel Corp. 0.47 0.51 0.53 0.55 0.51
KLA Corp. 0.67 0.63 0.51 0.72 0.63
Lam Research Corp. 0.92 0.69 0.80 0.89 0.66
NVIDIA Corp. 0.58 0.63 0.88 0.86 0.70
ON Semiconductor Corp. 0.70 0.61 0.65 0.77 0.77
Qualcomm Inc. 0.81 0.66 0.74 0.70 0.34 0.45
Texas Instruments Inc. 0.74 0.75 0.80 0.92 0.85
Total Asset Turnover, Sector
Semiconductors & Semiconductor Equipment 0.53 0.51 0.55 0.62 0.50
Total Asset Turnover, Industry
Information Technology 0.59 0.54 0.56 0.57 0.49

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
Total asset turnover = Revenue ÷ Total assets
= 27,705 ÷ 58,849 = 0.47

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Micron Technology Inc. total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.

Equity Turnover

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

Microsoft Excel
Sep 2, 2021 Sep 3, 2020 Aug 29, 2019 Aug 30, 2018 Aug 31, 2017 Sep 1, 2016
Selected Financial Data (US$ in millions)
Revenue 27,705  21,435  23,406  30,391  20,322  12,399 
Total Micron shareholders’ equity 43,933  38,996  35,881  32,294  18,621  12,080 
Long-term Activity Ratio
Equity turnover1 0.63 0.55 0.65 0.94 1.09 1.03
Benchmarks
Equity Turnover, Competitors2
Advanced Micro Devices Inc. 2.19 1.67 2.38 5.11 8.72
Analog Devices Inc. 0.19 0.47 0.51 0.56 0.50 0.66
Applied Materials Inc. 1.88 1.63 1.78 2.52 1.55 1.50
Broadcom Inc. 1.10 1.00 0.91 0.78 0.87 0.70
First Solar Inc. 0.49 0.49 0.60 0.43 0.58
Intel Corp. 0.83 0.96 0.93 0.95 0.91
KLA Corp. 2.05 2.18 1.72 2.49 2.62
Lam Research Corp. 2.43 1.94 2.07 1.70 1.18
NVIDIA Corp. 0.99 0.89 1.25 1.30 1.20
ON Semiconductor Corp. 1.47 1.49 1.67 1.85 1.99
Qualcomm Inc. 3.37 3.87 4.94 24.50 0.73 0.74
Texas Instruments Inc. 1.38 1.57 1.61 1.75 1.45
Equity Turnover, Sector
Semiconductors & Semiconductor Equipment 1.00 1.05 1.09 1.20 0.99
Equity Turnover, Industry
Information Technology 1.60 1.57 1.59 1.56 1.26

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
Equity turnover = Revenue ÷ Total Micron shareholders’ equity
= 27,705 ÷ 43,933 = 0.63

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Micron Technology Inc. equity turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.