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
Aug 29, 2024 Aug 31, 2023 Sep 1, 2022 Sep 2, 2021 Sep 3, 2020 Aug 29, 2019
Net fixed asset turnover 0.63 0.41 0.80 0.83 0.69 0.83
Net fixed asset turnover (including operating lease, right-of-use asset) 0.62 0.40 0.78 0.82 0.68 0.83
Total asset turnover 0.36 0.24 0.46 0.47 0.40 0.48
Equity turnover 0.56 0.35 0.62 0.63 0.55 0.65

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).

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 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 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 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Micron Technology Inc. total asset turnover ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Micron Technology Inc. equity turnover ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.

Net Fixed Asset Turnover

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

Microsoft Excel
Aug 29, 2024 Aug 31, 2023 Sep 1, 2022 Sep 2, 2021 Sep 3, 2020 Aug 29, 2019
Selected Financial Data (US$ in millions)
Revenue 25,111 15,540 30,758 27,705 21,435 23,406
Property, plant, and equipment 39,749 37,928 38,549 33,213 31,031 28,240
Long-term Activity Ratio
Net fixed asset turnover1 0.63 0.41 0.80 0.83 0.69 0.83
Benchmarks
Net Fixed Asset Turnover, Competitors2
Advanced Micro Devices Inc. 14.27 15.60 23.41 15.23 13.46
Analog Devices Inc. 3.82 5.00 3.70 5.00 4.91
Applied Materials Inc. 9.37 11.18 11.93 10.72 9.55
Broadcom Inc. 16.63 14.94 11.69 9.52 8.81
First Solar Inc. 0.75 0.74 1.10 1.13 1.40
Intel Corp. 0.56 0.78 1.25 1.38 1.30
KLA Corp. 8.84 10.17 10.84 10.44 11.17 10.18
Lam Research Corp. 6.92 9.39 10.46 11.22 9.37 9.12
NVIDIA Corp. 15.57 7.09 9.69 7.76 6.52 8.34
Qualcomm Inc. 8.35 7.10 8.55 7.36 6.34 7.88
Texas Instruments Inc. 1.75 2.91 3.57 4.42 4.35
Net Fixed Asset Turnover, Sector
Semiconductors & Semiconductor Equipment 1.63 2.08 2.29 2.10 2.11
Net Fixed Asset Turnover, Industry
Information Technology 3.52 4.14 4.45 4.24 4.29

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).

1 2024 Calculation
Net fixed asset turnover = Revenue ÷ Property, plant, and equipment
= 25,111 ÷ 39,749 = 0.63

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 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 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
Aug 29, 2024 Aug 31, 2023 Sep 1, 2022 Sep 2, 2021 Sep 3, 2020 Aug 29, 2019
Selected Financial Data (US$ in millions)
Revenue 25,111 15,540 30,758 27,705 21,435 23,406
 
Property, plant, and equipment 39,749 37,928 38,549 33,213 31,031 28,240
Operating lease right-of-use assets 645 666 678 551 584
Property, plant, and equipment (including operating lease, right-of-use asset) 40,394 38,594 39,227 33,764 31,615 28,240
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 0.62 0.40 0.78 0.82 0.68 0.83
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Advanced Micro Devices Inc. 10.21 11.96 15.37 11.50 9.55
Analog Devices Inc. 3.52 4.51 3.24 4.07 4.91
Applied Materials Inc. 8.28 9.56 10.35 9.27 9.55
Broadcom Inc. 13.69 12.12 9.35 7.71 8.81
First Solar Inc. 0.74 0.72 1.02 1.03 1.32
Intel Corp. 0.56 0.78 1.24 1.36 1.28
KLA Corp. 7.31 8.46 9.43 9.03 9.36 10.18
Lam Research Corp. 6.05 8.30 9.19 9.90 8.06 9.12
NVIDIA Corp. 11.58 5.57 7.46 5.84 4.76 8.34
Qualcomm Inc. 7.24 6.34 7.62 6.62 5.64 7.88
Texas Instruments Inc. 1.66 2.74 3.27 4.03 3.95
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Semiconductors & Semiconductor Equipment 1.58 2.01 2.20 2.02 2.08
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Information Technology 3.09 3.59 3.79 3.60 4.00

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).

1 2024 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenue ÷ Property, plant, and equipment (including operating lease, right-of-use asset)
= 25,111 ÷ 40,394 = 0.62

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 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.

Total Asset Turnover

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

Microsoft Excel
Aug 29, 2024 Aug 31, 2023 Sep 1, 2022 Sep 2, 2021 Sep 3, 2020 Aug 29, 2019
Selected Financial Data (US$ in millions)
Revenue 25,111 15,540 30,758 27,705 21,435 23,406
Total assets 69,416 64,254 66,283 58,849 53,678 48,887
Long-term Activity Ratio
Total asset turnover1 0.36 0.24 0.46 0.47 0.40 0.48
Benchmarks
Total Asset Turnover, Competitors2
Advanced Micro Devices Inc. 0.33 0.35 1.32 1.09 1.12
Analog Devices Inc. 0.25 0.24 0.14 0.26 0.28
Applied Materials Inc. 0.86 0.96 0.89 0.77 0.77
Broadcom Inc. 0.49 0.45 0.36 0.31 0.33
First Solar Inc. 0.32 0.32 0.39 0.38 0.41
Intel Corp. 0.28 0.35 0.47 0.51 0.53
KLA Corp. 0.64 0.75 0.73 0.67 0.63 0.51
Lam Research Corp. 0.80 0.93 1.00 0.92 0.69 0.80
NVIDIA Corp. 0.93 0.65 0.61 0.58 0.63 0.88
Qualcomm Inc. 0.71 0.70 0.90 0.81 0.66 0.74
Texas Instruments Inc. 0.54 0.74 0.74 0.75 0.80
Total Asset Turnover, Sector
Semiconductors & Semiconductor Equipment 0.43 0.49 0.53 0.51 0.54
Total Asset Turnover, Industry
Information Technology 0.59 0.63 0.61 0.57 0.58

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).

1 2024 Calculation
Total asset turnover = Revenue ÷ Total assets
= 25,111 ÷ 69,416 = 0.36

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 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.

Equity Turnover

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

Microsoft Excel
Aug 29, 2024 Aug 31, 2023 Sep 1, 2022 Sep 2, 2021 Sep 3, 2020 Aug 29, 2019
Selected Financial Data (US$ in millions)
Revenue 25,111 15,540 30,758 27,705 21,435 23,406
Total Micron shareholders’ equity 45,131 44,120 49,907 43,933 38,996 35,881
Long-term Activity Ratio
Equity turnover1 0.56 0.35 0.62 0.63 0.55 0.65
Benchmarks
Equity Turnover, Competitors2
Advanced Micro Devices Inc. 0.41 0.43 2.19 1.67 2.38
Analog Devices Inc. 0.35 0.33 0.19 0.47 0.51
Applied Materials Inc. 1.62 2.11 1.88 1.63 1.78
Broadcom Inc. 1.49 1.46 1.10 1.00 0.91
First Solar Inc. 0.50 0.45 0.49 0.49 0.60
Intel Corp. 0.51 0.62 0.83 0.96 0.93
KLA Corp. 2.91 3.59 6.57 2.05 2.18 1.72
Lam Research Corp. 1.75 2.12 2.74 2.43 1.94 2.07
NVIDIA Corp. 1.42 1.22 1.01 0.99 0.89 1.25
Qualcomm Inc. 1.48 1.66 2.45 3.37 3.87 4.94
Texas Instruments Inc. 1.04 1.37 1.38 1.57 1.61
Equity Turnover, Sector
Semiconductors & Semiconductor Equipment 0.77 0.88 0.99 1.05 1.08
Equity Turnover, Industry
Information Technology 1.44 1.60 1.66 1.64 1.65

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).

1 2024 Calculation
Equity turnover = Revenue ÷ Total Micron shareholders’ equity
= 25,111 ÷ 45,131 = 0.56

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 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.