Microsoft Excel LibreOffice Calc

Micron Technology Inc. (NASDAQ:MU)

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Enterprise Value to FCFF (EV/FCFF)

Intermediate level


Free Cash Flow to The Firm (FCFF)

Micron Technology Inc., FCFF calculation

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended Aug 29, 2019 Aug 30, 2018 Aug 31, 2017 Sep 1, 2016 Sep 3, 2015 Aug 28, 2014
Net income (loss) attributable to Micron
Net income attributable to noncontrolling interests
Net noncash charges
Change in operating assets and liabilities
Net cash provided by operating activities
Interest paid, net of amounts capitalized, net of tax1
Interest capitalized as part of the cost of property, plant, and equipment, net of tax2
Expenditures for property, plant, and equipment
Equipment acquisitions on contracts payable and capital leases
Free cash flow to the firm (FCFF)

Based on: 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), 10-K (filing date: 2014-10-27).

Item Description The company
FCFF Free cash flow to the firm is the cash flow available to the Micron Technology Inc.’s suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. Micron Technology Inc.’s FCFF increased from 2017 to 2018 but then slightly decreased from 2018 to 2019 not reaching 2017 level.

Interest Paid, Net of Tax

Micron Technology Inc., interest paid, net of tax calculation

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended Aug 29, 2019 Aug 30, 2018 Aug 31, 2017 Sep 1, 2016 Sep 3, 2015 Aug 28, 2014
Effective Income Tax Rate (EITR)
EITR1
Interest Paid, Net of Tax
Interest paid, net of amounts capitalized, before tax
Less: Interest paid, net of amounts capitalized, tax2
Interest paid, net of amounts capitalized, net of tax
Interest Costs Capitalized, Net of Tax
Interest capitalized as part of the cost of property, plant, and equipment, before tax
Less: Interest capitalized as part of the cost of property, plant, and equipment, tax3
Interest capitalized as part of the cost of property, plant, and equipment, net of tax

Based on: 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), 10-K (filing date: 2014-10-27).

1 See details »

2 2019 Calculation
Interest paid, net of amounts capitalized, tax = Interest paid, net of amounts capitalized × EITR
= × =

3 2019 Calculation
Interest capitalized as part of the cost of property, plant, and equipment, tax = Interest capitalized as part of the cost of property, plant, and equipment × EITR
= × =


Enterprise Value to FCFF Ratio, Current

Micron Technology Inc., current EV/FCFF calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Selected Financial Data (US$ in millions)
Enterprise value (EV)
Free cash flow to the firm (FCFF)
Valuation Ratio
EV/FCFF
Benchmarks
EV/FCFF, Competitors1
Advanced Micro Devices Inc.
Apple Inc.
Applied Materials Inc.
Broadcom Inc.
Cisco Systems Inc.
Intel Corp.
NVIDIA Corp.
Qualcomm Inc.
Texas Instruments Inc.
EV/FCFF, Sector
Technology Hardware & Equipment
EV/FCFF, Industry
Technology

Based on: 10-K (filing date: 2019-10-17).

1 Click competitor name to see calculations.

If the company EV/FCFF is lower then the EV/FCFF of benchmark then company is relatively undervalued.
Otherwise, if the company EV/FCFF is higher then the EV/FCFF of benchmark then company is relatively overvalued.


Enterprise Value to FCFF Ratio, Historical

Micron Technology Inc., historical EV/FCFF calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Aug 29, 2019 Aug 30, 2018 Aug 31, 2017 Sep 1, 2016 Sep 3, 2015 Aug 28, 2014
Selected Financial Data (US$ in millions)
Enterprise value (EV)1
Free cash flow to the firm (FCFF)2
Valuation Ratio
EV/FCFF3
Benchmarks
EV/FCFF, Competitors4
Advanced Micro Devices Inc.
Apple Inc.
Applied Materials Inc.
Broadcom Inc.
Cisco Systems Inc.
Intel Corp.
NVIDIA Corp.
Qualcomm Inc.
Texas Instruments Inc.
EV/FCFF, Sector
Technology Hardware & Equipment
EV/FCFF, Industry
Technology

Based on: 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), 10-K (filing date: 2014-10-27).

1 See details »

2 See details »

3 2019 Calculation
EV/FCFF = EV ÷ FCFF
= ÷ =

4 Click competitor name to see calculations.

Valuation ratio Description The company
EV/FCFF Enterprise value to free cash flow to the firm is whole company valuation indicator. Micron Technology Inc.’s EV/FCFF ratio decreased from 2017 to 2018 but then increased from 2018 to 2019 not reaching 2017 level.