Stock Analysis on Net
Stock Analysis on Net

Micron Technology Inc. (NASDAQ:MU)

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Beginner level

Historical Valuation Ratios (Summary)

Micron Technology Inc., historical price multiples (quarterly data)

Microsoft Excel LibreOffice Calc
May 28, 2020 Feb 27, 2020 Nov 28, 2019 Aug 29, 2019 May 30, 2019 Feb 28, 2019 Nov 29, 2018 Aug 30, 2018 May 31, 2018 Mar 1, 2018 Nov 30, 2017 Aug 31, 2017 Jun 1, 2017 Mar 2, 2017 Dec 1, 2016 Sep 1, 2016 Jun 2, 2016 Mar 3, 2016 Dec 3, 2015 Sep 3, 2015 Jun 4, 2015 Mar 5, 2015 Dec 4, 2014 Aug 28, 2014 May 29, 2014 Feb 27, 2014 Nov 28, 2013
Price to earnings (P/E) 25.33 21.69 17.42 7.98 4.06 3.73 2.39 3.40 5.44 6.29 6.97 9.20 13.04 46.07 33.37 10.38 6.58 6.25 5.32 7.78 9.79 11.39
Price to operating profit (P/OP) 22.93 19.03 14.79 6.83 3.68 3.47 2.25 3.20 5.05 5.65 6.15 7.98 9.98 23.62 83.51 106.63 19.43 8.65 6.45 6.04 5.60 8.40 9.98 11.23
Price to sales (P/S) 2.83 2.54 2.96 2.15 1.52 1.62 1.12 1.58 2.36 2.43 2.28 2.30 1.91 2.15 1.89 1.44 0.95 0.81 0.92 1.12 1.13 1.79 2.14 2.12
Price to book value (P/BV) 1.51 1.35 1.68 1.40 1.16 1.41 1.04 1.49 2.31 2.45 2.35 2.51 2.06 2.22 2.00 1.48 1.00 0.91 1.12 1.47 1.53 2.44 3.09 3.22 3.63 2.50 2.50

Based on: 10-Q (filing date: 2020-06-30), 10-Q (filing date: 2020-03-26), 10-Q (filing date: 2019-12-20), 10-K (filing date: 2019-10-17), 10-Q (filing date: 2019-06-26), 10-Q (filing date: 2019-03-21), 10-Q (filing date: 2018-12-19), 10-K (filing date: 2018-10-15), 10-Q (filing date: 2018-06-22), 10-Q (filing date: 2018-03-23), 10-Q (filing date: 2017-12-20), 10-K (filing date: 2017-10-26), 10-Q (filing date: 2017-06-30), 10-Q (filing date: 2017-03-28), 10-Q (filing date: 2017-01-09), 10-K (filing date: 2016-10-28), 10-Q (filing date: 2016-07-06), 10-Q (filing date: 2016-04-08), 10-Q (filing date: 2016-01-08), 10-K (filing date: 2015-10-27), 10-Q (filing date: 2015-07-10), 10-Q (filing date: 2015-04-10), 10-Q (filing date: 2015-01-09), 10-K (filing date: 2014-10-27), 10-Q (filing date: 2014-07-03), 10-Q (filing date: 2014-04-07), 10-Q (filing date: 2014-01-07).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Micron Technology Inc.’s P/E ratio increased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Micron Technology Inc.’s P/OP ratio increased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Micron Technology Inc.’s P/S ratio decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 not reaching Q1 2020 level.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. Micron Technology Inc.’s P/BV ratio decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 not reaching Q1 2020 level.

Price to Earnings (P/E)

Micron Technology Inc., historical P/E calculation (quarterly data)

Microsoft Excel LibreOffice Calc
May 28, 2020 Feb 27, 2020 Nov 28, 2019 Aug 29, 2019 May 30, 2019 Feb 28, 2019 Nov 29, 2018 Aug 30, 2018 May 31, 2018 Mar 1, 2018 Nov 30, 2017 Aug 31, 2017 Jun 1, 2017 Mar 2, 2017 Dec 1, 2016 Sep 1, 2016 Jun 2, 2016 Mar 3, 2016 Dec 3, 2015 Sep 3, 2015 Jun 4, 2015 Mar 5, 2015 Dec 4, 2014 Aug 28, 2014 May 29, 2014 Feb 27, 2014 Nov 28, 2013
No. shares of common stock outstanding1 1,110,998,472 1,112,186,006 1,110,873,554 1,107,050,823 1,103,803,379 1,106,687,011 1,121,046,809 1,134,255,375 1,159,810,627 1,159,764,549 1,156,314,972 1,153,255,224 1,114,065,834 1,106,307,123 1,102,751,846 1,041,537,057 1,038,390,543 1,037,043,109 1,037,455,896 1,085,753,663 1,083,435,628 1,081,540,268 1,077,313,410 1,073,455,204 1,070,823,247 1,070,379,433 1,060,879,576
Selected Financial Data (US$)
Net income (loss) attributable to Micron (in millions) 803  405  491  561  840  1,619  3,293  4,325  3,823  3,309  2,678  2,368  1,647  894  180  (170) (215) (97) 206  471  491  934  1,003  1,150  806  731  358 
Earnings per share (EPS)2 2.03 2.07 3.16 5.70 9.13 11.80 13.16 12.46 10.50 8.62 6.56 4.41 2.29 0.62 -0.27 -0.26 0.35 1.03 2.03 2.67 3.30 3.60 3.43 2.84 0.00 0.00 0.00
Share price1, 3 51.52 44.79 55.06 45.50 37.04 43.99 31.41 42.34 57.10 54.21 45.75 40.60 29.86 28.69 22.34 17.20 11.73 10.72 13.33 16.68 17.57 28.02 33.53 32.30 33.73 21.71 21.73
Valuation Ratio
P/E ratio4 25.33 21.69 17.42 7.98 4.06 3.73 2.39 3.40 5.44 6.29 6.97 9.20 13.04 46.07 33.37 10.38 6.58 6.25 5.32 7.78 9.79 11.39
Benchmarks
P/E Ratio, Competitors5
Advanced Micro Devices Inc. 146.69 129.05 169.62 176.53 173.06 106.61 68.76 50.55 55.68 53.78 282.39
Analog Devices Inc. 39.23 37.97 37.64 31.04 26.42 23.89 24.87 22.17 25.81 33.09 42.83 44.94 45.55 37.59 27.60 26.07 29.83 26.48 23.95 27.06
Apple Inc. 31.11 21.90 24.67 20.00 17.29 16.94 13.11 16.07 17.34 16.28 16.12 18.32 17.40 16.77 14.94 13.49 11.61 10.57 9.64 12.46 14.08 15.73 15.11 15.60
Applied Materials Inc. 18.29 17.29 21.57 20.25 15.06 10.73 9.34 9.75 12.30 16.14 20.56 16.16 15.23 18.31 18.26 20.68 22.15 20.33 16.24 15.88 14.79 19.56 26.25 27.87
Broadcom Inc. 65.22 51.78 36.94 47.09 38.49 30.48 17.68 8.14 8.34 10.57 14.31 63.27 190.51 40.57 28.48 33.13 55.71 66.64 98.34
Cisco Systems Inc. 17.64 17.87 17.54 17.69 18.30 16.99 158.12 1,964.84 18.72 16.37 15.88 17.38 14.11 14.69 13.98 12.87 14.50 14.82
Intel Corp. 9.09 11.04 13.91 12.70 11.57 11.41 10.41 13.75 16.54 22.16 22.15 13.97 12.93 15.69 16.72 15.94 16.33 12.60 11.85
Lam Research Corp. 18.13 22.89 18.89 13.64 11.64 8.99 9.78 11.70 16.16 18.51 16.47 15.33 16.07 18.91 17.96 15.82 16.28 13.36 15.05 17.38
NVIDIA Corp. 53.25 33.04 29.64 22.80 26.30 36.38 38.93 48.05 50.69 43.50 41.49 36.34 41.41 36.46 35.06 28.97 27.86 23.55 18.02 19.77
Qualcomm Inc. 38.25 21.95 24.49 22.03 26.26 42.74 28.15 31.96 21.51 17.37 17.19 17.37 15.92 15.59 14.81 17.18 16.52 15.69 14.52 16.11
Texas Instruments Inc. 24.04 20.66 24.47 21.27 21.89 20.36 18.05 19.49 24.79 25.03 27.77 21.75 19.56 20.48 21.45 20.05 22.07 18.63 17.66

Based on: 10-Q (filing date: 2020-06-30), 10-Q (filing date: 2020-03-26), 10-Q (filing date: 2019-12-20), 10-K (filing date: 2019-10-17), 10-Q (filing date: 2019-06-26), 10-Q (filing date: 2019-03-21), 10-Q (filing date: 2018-12-19), 10-K (filing date: 2018-10-15), 10-Q (filing date: 2018-06-22), 10-Q (filing date: 2018-03-23), 10-Q (filing date: 2017-12-20), 10-K (filing date: 2017-10-26), 10-Q (filing date: 2017-06-30), 10-Q (filing date: 2017-03-28), 10-Q (filing date: 2017-01-09), 10-K (filing date: 2016-10-28), 10-Q (filing date: 2016-07-06), 10-Q (filing date: 2016-04-08), 10-Q (filing date: 2016-01-08), 10-K (filing date: 2015-10-27), 10-Q (filing date: 2015-07-10), 10-Q (filing date: 2015-04-10), 10-Q (filing date: 2015-01-09), 10-K (filing date: 2014-10-27), 10-Q (filing date: 2014-07-03), 10-Q (filing date: 2014-04-07), 10-Q (filing date: 2014-01-07).

1 Data adjusted for splits and stock dividends.

2 Q3 2020 Calculation
EPS = (Net income (loss) attributable to MicronQ3 2020 + Net income (loss) attributable to MicronQ2 2020 + Net income (loss) attributable to MicronQ1 2020 + Net income (loss) attributable to MicronQ4 2019) ÷ No. shares of common stock outstanding
= (803,000,000 + 405,000,000 + 491,000,000 + 561,000,000) ÷ 1,110,998,472 = 2.03

3 Closing price as at the filing date of Micron Technology Inc.’s Quarterly or Annual Report.

4 Q3 2020 Calculation
P/E ratio = Share price ÷ EPS
= 51.52 ÷ 2.03 = 25.33

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Micron Technology Inc.’s P/E ratio increased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Price to Operating Profit (P/OP)

Micron Technology Inc., historical P/OP calculation (quarterly data)

Microsoft Excel LibreOffice Calc
May 28, 2020 Feb 27, 2020 Nov 28, 2019 Aug 29, 2019 May 30, 2019 Feb 28, 2019 Nov 29, 2018 Aug 30, 2018 May 31, 2018 Mar 1, 2018 Nov 30, 2017 Aug 31, 2017 Jun 1, 2017 Mar 2, 2017 Dec 1, 2016 Sep 1, 2016 Jun 2, 2016 Mar 3, 2016 Dec 3, 2015 Sep 3, 2015 Jun 4, 2015 Mar 5, 2015 Dec 4, 2014 Aug 28, 2014 May 29, 2014 Feb 27, 2014 Nov 28, 2013
No. shares of common stock outstanding1 1,110,998,472 1,112,186,006 1,110,873,554 1,107,050,823 1,103,803,379 1,106,687,011 1,121,046,809 1,134,255,375 1,159,810,627 1,159,764,549 1,156,314,972 1,153,255,224 1,114,065,834 1,106,307,123 1,102,751,846 1,041,537,057 1,038,390,543 1,037,043,109 1,037,455,896 1,085,753,663 1,083,435,628 1,081,540,268 1,077,313,410 1,073,455,204 1,070,823,247 1,070,379,433 1,060,879,576
Selected Financial Data (US$)
Operating income (loss) (in millions) 888  440  518  650  1,010  1,957  3,759  4,377  3,953  3,567  3,097  2,502  1,963  1,044  359  (32) (27) (5) 232  427  631  855  1,085  828  839  869  551 
Operating profit per share2 2.25 2.35 3.72 6.66 10.06 12.69 13.97 13.22 11.31 9.60 7.44 5.09 2.99 1.21 0.27 0.16 0.60 1.24 2.07 2.76 3.14 3.34 3.36 2.88 0.00 0.00 0.00
Share price1, 3 51.52 44.79 55.06 45.50 37.04 43.99 31.41 42.34 57.10 54.21 45.75 40.60 29.86 28.69 22.34 17.20 11.73 10.72 13.33 16.68 17.57 28.02 33.53 32.30 33.73 21.71 21.73
Valuation Ratio
P/OP ratio4 22.93 19.03 14.79 6.83 3.68 3.47 2.25 3.20 5.05 5.65 6.15 7.98 9.98 23.62 83.51 106.63 19.43 8.65 6.45 6.04 5.60 8.40 9.98 11.23
Benchmarks
P/OP Ratio, Competitors5
Advanced Micro Devices Inc. 101.06 81.62 91.66 118.63 120.20 78.58 51.38 36.04 38.08 30.01 59.52 87.97
Analog Devices Inc. 31.72 30.10 29.85 24.74 21.27 19.35 20.36 17.62 20.03 23.29 27.92 30.97 31.93 30.33 22.95 21.85 25.32 22.10 19.99 22.69
Apple Inc. 27.07 19.10 21.45 17.29 14.94 14.79 11.46 13.49 14.33 13.14 12.67 14.44 13.53 12.93 11.41 10.27 8.82 8.01 7.28 9.34 10.54 11.76 11.33 11.74
Applied Materials Inc. 14.76 13.85 17.50 16.36 12.41 9.45 8.18 6.74 8.62 11.02 13.84 14.35 13.15 15.51 14.99 16.54 17.82 16.17 13.44 12.92 11.41 14.80 18.59 19.66
Broadcom Inc. 41.08 35.53 25.99 36.85 28.49 23.44 24.21 19.42 22.97 32.67 39.00 44.93 50.07 94.49 226.20 33.05 23.80 24.98 38.73 45.69 59.05
Cisco Systems Inc. 13.53 13.95 13.79 14.46 17.44 16.19 14.97 17.56 17.11 17.64 15.29 13.14 12.97 14.18 12.04 12.46 11.70 10.92 12.07 12.36
Intel Corp. 8.28 10.08 13.29 11.44 10.22 10.20 9.40 9.27 10.86 13.07 11.86 11.34 10.01 12.68 13.40 13.07 13.32 10.36 9.66
Lam Research Corp. 14.99 19.68 16.64 12.12 11.10 8.51 7.30 8.66 10.64 12.08 14.63 13.68 14.34 15.04 15.14 13.46 13.39 11.29 12.66 14.45
NVIDIA Corp. 59.72 39.72 34.03 24.82 26.94 35.41 37.29 45.61 45.62 38.06 36.35 31.30 34.79 31.84 29.56 23.81 22.93 17.79 14.44 16.42
Qualcomm Inc. 29.96 11.05 13.01 12.60 14.09 54.63 42.67 103.26 50.49 46.77 54.17 30.15 20.53 15.86 15.04 15.26 14.10 13.97 13.17 15.68 15.22 15.05 14.42 17.00
Texas Instruments Inc. 22.86 18.39 21.46 18.41 18.41 16.89 15.00 13.51 16.50 15.90 16.81 16.34 14.79 15.64 16.07 14.68 15.90 13.23 12.34

Based on: 10-Q (filing date: 2020-06-30), 10-Q (filing date: 2020-03-26), 10-Q (filing date: 2019-12-20), 10-K (filing date: 2019-10-17), 10-Q (filing date: 2019-06-26), 10-Q (filing date: 2019-03-21), 10-Q (filing date: 2018-12-19), 10-K (filing date: 2018-10-15), 10-Q (filing date: 2018-06-22), 10-Q (filing date: 2018-03-23), 10-Q (filing date: 2017-12-20), 10-K (filing date: 2017-10-26), 10-Q (filing date: 2017-06-30), 10-Q (filing date: 2017-03-28), 10-Q (filing date: 2017-01-09), 10-K (filing date: 2016-10-28), 10-Q (filing date: 2016-07-06), 10-Q (filing date: 2016-04-08), 10-Q (filing date: 2016-01-08), 10-K (filing date: 2015-10-27), 10-Q (filing date: 2015-07-10), 10-Q (filing date: 2015-04-10), 10-Q (filing date: 2015-01-09), 10-K (filing date: 2014-10-27), 10-Q (filing date: 2014-07-03), 10-Q (filing date: 2014-04-07), 10-Q (filing date: 2014-01-07).

1 Data adjusted for splits and stock dividends.

2 Q3 2020 Calculation
Operating profit per share = (Operating income (loss)Q3 2020 + Operating income (loss)Q2 2020 + Operating income (loss)Q1 2020 + Operating income (loss)Q4 2019) ÷ No. shares of common stock outstanding
= (888,000,000 + 440,000,000 + 518,000,000 + 650,000,000) ÷ 1,110,998,472 = 2.25

3 Closing price as at the filing date of Micron Technology Inc.’s Quarterly or Annual Report.

4 Q3 2020 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 51.52 ÷ 2.25 = 22.93

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Micron Technology Inc.’s P/OP ratio increased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Price to Sales (P/S)

Micron Technology Inc., historical P/S calculation (quarterly data)

Microsoft Excel LibreOffice Calc
May 28, 2020 Feb 27, 2020 Nov 28, 2019 Aug 29, 2019 May 30, 2019 Feb 28, 2019 Nov 29, 2018 Aug 30, 2018 May 31, 2018 Mar 1, 2018 Nov 30, 2017 Aug 31, 2017 Jun 1, 2017 Mar 2, 2017 Dec 1, 2016 Sep 1, 2016 Jun 2, 2016 Mar 3, 2016 Dec 3, 2015 Sep 3, 2015 Jun 4, 2015 Mar 5, 2015 Dec 4, 2014 Aug 28, 2014 May 29, 2014 Feb 27, 2014 Nov 28, 2013
No. shares of common stock outstanding1 1,110,998,472 1,112,186,006 1,110,873,554 1,107,050,823 1,103,803,379 1,106,687,011 1,121,046,809 1,134,255,375 1,159,810,627 1,159,764,549 1,156,314,972 1,153,255,224 1,114,065,834 1,106,307,123 1,102,751,846 1,041,537,057 1,038,390,543 1,037,043,109 1,037,455,896 1,085,753,663 1,083,435,628 1,081,540,268 1,077,313,410 1,073,455,204 1,070,823,247 1,070,379,433 1,060,879,576
Selected Financial Data (US$)
Revenue (in millions) 5,438  4,797  5,144  4,870  4,788  5,835  7,913  8,440  7,797  7,351  6,803  6,138  5,566  4,648  3,970  3,217  2,898  2,934  3,350  3,600  3,853  4,166  4,573  4,227  3,982  4,107  4,042 
Sales per share2 18.23 17.62 18.58 21.14 24.44 27.09 28.10 26.79 24.22 22.30 20.02 17.62 15.62 13.32 11.81 11.90 12.31 13.25 14.43 14.91 15.52 15.67 15.68 15.24 0.00 0.00 0.00
Share price1, 3 51.52 44.79 55.06 45.50 37.04 43.99 31.41 42.34 57.10 54.21 45.75 40.60 29.86 28.69 22.34 17.20 11.73 10.72 13.33 16.68 17.57 28.02 33.53 32.30 33.73 21.71 21.73
Valuation Ratio
P/S ratio4 2.83 2.54 2.96 2.15 1.52 1.62 1.12 1.58 2.36 2.43 2.28 2.30 1.91 2.15 1.89 1.44 0.95 0.81 0.92 1.12 1.13 1.79 2.14 2.12
Benchmarks
P/S Ratio, Competitors5
Advanced Micro Devices Inc. 11.68 8.67 8.59 6.13 5.63 4.75 3.58 2.78 2.81 1.77 2.28 2.11 2.71 2.14 3.08 1.64 1.43 0.76 0.38
Analog Devices Inc. 7.90 7.61 7.93 7.06 6.53 6.01 6.32 5.35 5.92 5.86 5.91 6.40 6.74 7.86 6.94 6.57 5.81 5.06 4.76 5.49
Apple Inc. 6.64 4.68 5.30 4.25 3.72 3.75 2.98 3.60 3.81 3.51 3.41 3.86 3.63 3.48 3.10 2.86 2.52 2.36 2.20 2.85 3.18 3.55 3.36 3.37
Applied Materials Inc. 3.58 3.27 4.06 3.75 2.92 2.37 2.19 1.87 2.44 3.10 3.81 3.82 3.36 3.74 3.30 3.29 3.24 2.70 2.23 2.26 2.01 2.66 3.31 3.29
Broadcom Inc. 6.27 5.28 4.13 5.62 5.17 4.85 5.39 4.78 4.81 5.90 5.84 6.07 5.94 6.38 5.71 5.48 6.11 7.31 8.10 5.69 5.39 6.07 6.16 6.06
Cisco Systems Inc. 3.76 3.83 3.71 3.96 4.71 4.30 3.98 4.38 4.22 4.41 3.79 3.28 3.27 3.52 3.07 3.20 2.90 2.68 2.80 2.71
Intel Corp. 2.73 3.31 4.07 3.49 3.25 3.31 3.09 3.01 3.32 3.84 3.39 3.12 2.66 2.91 2.90 2.85 2.91 2.57 2.44
Lam Research Corp. 3.95 4.96 4.23 3.10 2.99 2.40 2.08 2.51 2.96 3.26 3.76 3.25 3.19 2.96 2.70 2.46 2.20 1.92 2.12 2.17
NVIDIA Corp. 12.82 8.90 9.09 8.06 9.94 13.18 13.41 15.07 14.59 11.92 10.81 8.76 8.22 6.19 4.67 3.55 3.44 2.59 2.39 2.66
Qualcomm Inc. 5.25 3.59 4.24 3.98 3.52 4.95 2.82 3.37 3.82 3.26 4.52 3.54 3.71 3.34 3.53 4.21 3.60 3.38 2.97 3.58 3.80 4.09 4.34 4.85
Texas Instruments Inc. 8.87 7.28 8.54 7.48 7.66 7.09 6.38 5.77 6.96 6.61 6.83 6.52 5.68 5.77 5.77 5.16 5.41 4.41 4.06

Based on: 10-Q (filing date: 2020-06-30), 10-Q (filing date: 2020-03-26), 10-Q (filing date: 2019-12-20), 10-K (filing date: 2019-10-17), 10-Q (filing date: 2019-06-26), 10-Q (filing date: 2019-03-21), 10-Q (filing date: 2018-12-19), 10-K (filing date: 2018-10-15), 10-Q (filing date: 2018-06-22), 10-Q (filing date: 2018-03-23), 10-Q (filing date: 2017-12-20), 10-K (filing date: 2017-10-26), 10-Q (filing date: 2017-06-30), 10-Q (filing date: 2017-03-28), 10-Q (filing date: 2017-01-09), 10-K (filing date: 2016-10-28), 10-Q (filing date: 2016-07-06), 10-Q (filing date: 2016-04-08), 10-Q (filing date: 2016-01-08), 10-K (filing date: 2015-10-27), 10-Q (filing date: 2015-07-10), 10-Q (filing date: 2015-04-10), 10-Q (filing date: 2015-01-09), 10-K (filing date: 2014-10-27), 10-Q (filing date: 2014-07-03), 10-Q (filing date: 2014-04-07), 10-Q (filing date: 2014-01-07).

1 Data adjusted for splits and stock dividends.

2 Q3 2020 Calculation
Sales per share = (RevenueQ3 2020 + RevenueQ2 2020 + RevenueQ1 2020 + RevenueQ4 2019) ÷ No. shares of common stock outstanding
= (5,438,000,000 + 4,797,000,000 + 5,144,000,000 + 4,870,000,000) ÷ 1,110,998,472 = 18.23

3 Closing price as at the filing date of Micron Technology Inc.’s Quarterly or Annual Report.

4 Q3 2020 Calculation
P/S ratio = Share price ÷ Sales per share
= 51.52 ÷ 18.23 = 2.83

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Micron Technology Inc.’s P/S ratio decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 not reaching Q1 2020 level.

Price to Book Value (P/BV)

Micron Technology Inc., historical P/BV calculation (quarterly data)

Microsoft Excel LibreOffice Calc
May 28, 2020 Feb 27, 2020 Nov 28, 2019 Aug 29, 2019 May 30, 2019 Feb 28, 2019 Nov 29, 2018 Aug 30, 2018 May 31, 2018 Mar 1, 2018 Nov 30, 2017 Aug 31, 2017 Jun 1, 2017 Mar 2, 2017 Dec 1, 2016 Sep 1, 2016 Jun 2, 2016 Mar 3, 2016 Dec 3, 2015 Sep 3, 2015 Jun 4, 2015 Mar 5, 2015 Dec 4, 2014 Aug 28, 2014 May 29, 2014 Feb 27, 2014 Nov 28, 2013
No. shares of common stock outstanding1 1,110,998,472 1,112,186,006 1,110,873,554 1,107,050,823 1,103,803,379 1,106,687,011 1,121,046,809 1,134,255,375 1,159,810,627 1,159,764,549 1,156,314,972 1,153,255,224 1,114,065,834 1,106,307,123 1,102,751,846 1,041,537,057 1,038,390,543 1,037,043,109 1,037,455,896 1,085,753,663 1,083,435,628 1,081,540,268 1,077,313,410 1,073,455,204 1,070,823,247 1,070,379,433 1,060,879,576
Selected Financial Data (US$)
Total Micron shareholders’ equity (in millions) 37,820  37,023  36,500  35,881  35,323  34,567  33,869  32,294  28,649  25,697  22,526  18,621  16,171  14,287  12,320  12,080  12,187  12,264  12,301  12,302  12,458  12,426  11,678  10,771  9,940  9,284  9,219 
Book value per share (BVPS)2 34.04 33.29 32.86 32.41 32.00 31.23 30.21 28.47 24.70 22.16 19.48 16.15 14.52 12.91 11.17 11.60 11.74 11.83 11.86 11.33 11.50 11.49 10.84 10.03 9.28 8.67 8.69
Share price1, 3 51.52 44.79 55.06 45.50 37.04 43.99 31.41 42.34 57.10 54.21 45.75 40.60 29.86 28.69 22.34 17.20 11.73 10.72 13.33 16.68 17.57 28.02 33.53 32.30 33.73 21.71 21.73
Valuation Ratio
P/BV ratio4 1.51 1.35 1.68 1.40 1.16 1.41 1.04 1.49 2.31 2.45 2.35 2.51 2.06 2.22 2.00 1.48 1.00 0.91 1.12 1.47 1.53 2.44 3.09 3.22 3.63 2.50 2.50
Benchmarks
P/BV Ratio, Competitors5
Advanced Micro Devices Inc. 27.03 20.69 20.46 16.96 17.39 16.22 18.30 16.18 20.84 14.82 19.87 20.13 30.06 23.20 31.66 17.55 104.35
Analog Devices Inc. 3.70 3.64 3.90 3.61 3.40 3.19 3.40 3.02 3.35 3.33 3.22 3.22 3.10 3.16 4.75 4.35 3.96 3.52 3.27 3.72 3.59 4.01 3.81
Apple Inc. 25.14 15.98 15.85 12.21 9.98 9.15 6.61 8.93 8.47 6.84 5.81 6.61 6.13 5.72 5.10 4.81 4.38 4.11 4.04 5.57 5.68 5.83 5.45 5.53 4.81 4.07 3.48
Applied Materials Inc. 6.09 5.59 7.04 6.67 5.35 4.56 4.49 4.73 6.16 7.27 6.93 5.94 5.35 5.89 5.08 4.93 4.70 3.94 2.98 2.87 2.41 2.97 3.79 3.80 3.52 3.24 3.18
Broadcom Inc. 6.18 5.04 3.84 5.09 5.36 4.77 4.95 3.74 3.55 3.61 4.25 5.28 5.08 5.34 4.68 3.84 3.44 3.30 11.01 8.24 8.28 9.14 8.82 7.97 7.17 5.74 5.23
Cisco Systems Inc. 5.33 5.56 5.60 6.12 6.57 5.36 4.56 5.00 4.40 4.08 2.76 2.38 2.43 2.68 2.37 2.48 2.30 2.18 2.32 2.23 2.56 2.61 2.42
Intel Corp. 2.62 3.29 3.78 3.31 3.05 3.19 2.94 2.92 3.14 3.50 3.08 2.73 2.39 2.64 2.60 2.62 2.69 2.36 2.21 2.87 2.34 2.81
Lam Research Corp. 8.38 10.81 8.13 6.39 5.88 4.51 4.27 4.28 4.48 5.07 4.59 3.82 3.41 2.95 2.58 2.45 2.25 2.04 2.26 2.23 2.35 2.47 2.57
NVIDIA Corp. 11.45 8.77 10.05 10.10 13.03 17.80 19.09 19.60 20.61 16.65 13.30 10.51 9.48 7.51 5.75 3.98 3.74 2.96 2.48 2.82 2.59 2.42 2.44
Qualcomm Inc. 31.75 29.17 23.03 19.69 16.28 27.16 16.79 82.57 3.78 3.10 4.22 2.56 2.68 2.48 2.69 3.12 2.68 2.58 2.35 2.88 3.04 2.97 3.02 3.28 3.53 3.56 3.25
Texas Instruments Inc. 15.88 13.29 13.79 12.28 13.75 12.98 11.20 8.68 10.26 9.53 9.89 8.68 7.52 7.47 7.36 6.60 7.01 5.79 5.30 5.84 5.01 5.42

Based on: 10-Q (filing date: 2020-06-30), 10-Q (filing date: 2020-03-26), 10-Q (filing date: 2019-12-20), 10-K (filing date: 2019-10-17), 10-Q (filing date: 2019-06-26), 10-Q (filing date: 2019-03-21), 10-Q (filing date: 2018-12-19), 10-K (filing date: 2018-10-15), 10-Q (filing date: 2018-06-22), 10-Q (filing date: 2018-03-23), 10-Q (filing date: 2017-12-20), 10-K (filing date: 2017-10-26), 10-Q (filing date: 2017-06-30), 10-Q (filing date: 2017-03-28), 10-Q (filing date: 2017-01-09), 10-K (filing date: 2016-10-28), 10-Q (filing date: 2016-07-06), 10-Q (filing date: 2016-04-08), 10-Q (filing date: 2016-01-08), 10-K (filing date: 2015-10-27), 10-Q (filing date: 2015-07-10), 10-Q (filing date: 2015-04-10), 10-Q (filing date: 2015-01-09), 10-K (filing date: 2014-10-27), 10-Q (filing date: 2014-07-03), 10-Q (filing date: 2014-04-07), 10-Q (filing date: 2014-01-07).

1 Data adjusted for splits and stock dividends.

2 Q3 2020 Calculation
BVPS = Total Micron shareholders’ equity ÷ No. shares of common stock outstanding
= 37,820,000,000 ÷ 1,110,998,472 = 34.04

3 Closing price as at the filing date of Micron Technology Inc.’s Quarterly or Annual Report.

4 Q3 2020 Calculation
P/BV ratio = Share price ÷ BVPS
= 51.52 ÷ 34.04 = 1.51

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. Micron Technology Inc.’s P/BV ratio decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 not reaching Q1 2020 level.