Balance Sheet Micron Technology, Inc.

Equities

MU

US5951121038

Semiconductors

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Published financial data: MICRON TECHNOLOGY, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: August	2020	2021	2022	2023	2024
Revenues	2.14TCr	2.77TCr	3.08TCr	1.55TCr	2.51TCr
Total Revenues	2.14TCr	2.77TCr	3.08TCr	1.55TCr	2.51TCr
Cost of Goods Sold, Total	1.49TCr	1.72TCr	1.69TCr	1.7TCr	1.95TCr
Gross Profit	655.2Cr	1.05TCr	1.39TCr	-141.6Cr	561.3Cr
Selling General & Admin Expenses, Total	88Cr	89Cr	106.6Cr	92Cr	112.9Cr
Stock-Based Compensation (IS)	-	-	-	-	-
R&D Expenses	260Cr	266.3Cr	311.6Cr	311.4Cr	343Cr
Other Operating Expenses	1.1Cr	12Cr	70L	90L	-19Cr
Other Operating Expenses, Total	349.2Cr	367.6Cr	418.9Cr	404.3Cr	436.7Cr
Operating Income	306Cr	679.6Cr	970.9Cr	-545.9Cr	124.6Cr
Interest Expense, Total	-19Cr	-18Cr	-19Cr	-39Cr	-56Cr
Interest And Investment Income	11Cr	3.7Cr	9.6Cr	47Cr	53Cr
Net Interest Expenses	-8Cr	-15Cr	-9.3Cr	8Cr	-3.3Cr
Income (Loss) On Equity Invest.	70L	3.7Cr	40L	20L	-1.1Cr
Currency Exchange Gains (Loss)	-80L	-	-	-	-
Other Non Operating Income (Expenses)	2.8Cr	-	1.9Cr	1.5Cr	10L
EBT, Excl. Unusual Items	300.7Cr	668.7Cr	963.9Cr	-536.2Cr	120.3Cr
Restructuring Charges	1.1Cr	-54Cr	-4.8Cr	-17Cr	-10L
Merger & Related Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-	-	-	-10Cr	-
Gain (Loss) On Sale Of Investments	-	8.2Cr	2.6Cr	-80L	-3.2Cr
Gain (Loss) On Sale Of Assets	30L	2.4Cr	4.1Cr	5.4Cr	5.9Cr
Asset Writedown	-7.1Cr	-	-	-	-
Legal Settlements	-	-	-	-6.8Cr	-
Other Unusual Items	4Cr	-10L	-8.3Cr	-	-
EBT, Incl. Unusual Items	299Cr	625.5Cr	957.5Cr	-565.6Cr	122.9Cr
Income Tax Expense	28Cr	39Cr	89Cr	18Cr	45Cr
Earnings From Continuing Operations	271Cr	586.1Cr	868.7Cr	-583.3Cr	78Cr
Net Income to Company	271Cr	586.1Cr	868.7Cr	-583.3Cr	78Cr
Minority Interest	-2.3Cr	-	-	-	-
Net Income - (IS)	268.7Cr	586.1Cr	868.7Cr	-583.3Cr	78Cr
Net Income to Common Incl Extra Items	268.7Cr	586.1Cr	868.7Cr	-583.3Cr	78Cr
Net Income to Common Excl. Extra Items	268.7Cr	586.1Cr	868.7Cr	-583.3Cr	78Cr
Per Share Items
Net EPS - Basic	2.42	5.23	7.81	-5.34	0.7
Basic EPS - Continuing Operations	2.42	5.23	7.81	-5.34	0.7
Basic Weighted Average Shares Outstanding	111Cr	112Cr	111.2Cr	109.3Cr	110.5Cr
Net EPS - Diluted	2.37	5.14	7.75	-5.34	0.7
Diluted EPS - Continuing Operations	2.37	5.14	7.75	-5.34	0.7
Diluted Weighted Average Shares Outstanding	113.1Cr	114.1Cr	112.2Cr	109.3Cr	111.8Cr
Normalized Basic EPS	1.67	3.73	5.42	-3.07	0.68
Normalized Diluted EPS	1.64	3.66	5.37	-3.07	0.67
Dividend Per Share	-	0.1	0.43	0.46	0.46
Payout Ratio	-	-	5.31	-8.64	65.94
American Depositary Receipts Ratio (ADR)	0.17	0.17	0.17	0.17	0.17
Supplemental Items
EBITDA	871Cr	1.3TCr	1.68TCr	221.1Cr	894.4Cr
EBITA	306Cr	679.6Cr	970.9Cr	-545.9Cr	124.6Cr
EBIT	306Cr	679.6Cr	970.9Cr	-545.9Cr	124.6Cr
EBITDAR	881.2Cr	1.31TCr	1.7TCr	234.8Cr	908.4Cr
Effective Tax Rate - (Ratio)	9.36	6.3	9.27	-3.13	36.7
Current Domestic Taxes	2.2Cr	4.3Cr	6.6Cr	60L	8.3Cr
Current Foreign Taxes	15Cr	37Cr	53Cr	18Cr	33Cr
Total Current Taxes	17Cr	41Cr	59Cr	18Cr	42Cr
Deferred Domestic Taxes	-6.2Cr	-1.9Cr	39Cr	8.4Cr	-1.8Cr
Deferred Foreign Taxes	17Cr	-	-9.7Cr	-9.1Cr	5.3Cr
Total Deferred Taxes	11Cr	-1.9Cr	29Cr	-70L	3.5Cr
Normalized Net Income	185.64Cr	417.94Cr	602.44Cr	-335.12Cr	75Cr
Interest Capitalized	7.7Cr	6.6Cr	7.7Cr	21Cr	22Cr
Interest on Long-Term Debt	11Cr	8.6Cr	10Cr	23Cr	30Cr
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	260Cr	266.3Cr	311.6Cr	311.4Cr	343Cr
Net Rental Expense, Total	10Cr	11Cr	12Cr	14Cr	14Cr
Imputed Operating Lease Interest Expense	3.38Cr	2.95Cr	3.57Cr	6.06Cr	6.28Cr
Imputed Operating Lease Depreciation	6.82Cr	7.85Cr	8.93Cr	7.64Cr	7.72Cr
Stock-Based Comp., COGS (Total)	14Cr	19Cr	19Cr	20Cr	31Cr
Stock-Based Comp., R&D Exp. (Total)	8.6Cr	11Cr	18Cr	23Cr	30Cr
Stock-Based Comp., SG&A Exp. (Total)	10Cr	9.9Cr	13Cr	14Cr	21Cr
Stock-Based Comp., Other (Total)	-	-	-	3.2Cr	1.2Cr
Total Stock-Based Compensation	33Cr	40Cr	50Cr	60Cr	83Cr

Fiscal Period: August	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	762.4Cr	776.3Cr	826.2Cr	857.7Cr	704.1Cr
Short Term Investments	52Cr	87Cr	106.9Cr	101.7Cr	106.5Cr
Total Cash And Short Term Investments	814.2Cr	863.3Cr	933.1Cr	959.4Cr	810.6Cr
Accounts Receivable, Total	349.4Cr	492Cr	476.5Cr	204.8Cr	541.9Cr
Other Receivables	42Cr	39Cr	36Cr	40Cr	119.6Cr
Total Receivables	391.2Cr	531.1Cr	513Cr	244.3Cr	661.5Cr
Inventory	560.7Cr	448.7Cr	666.3Cr	838.7Cr	887.5Cr
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	30Cr	147.6Cr	66Cr	82Cr	78Cr
Total Current Assets	1.8TCr	1.99TCr	2.18TCr	2.12TCr	2.44TCr
Gross Property Plant And Equipment	6.59TCr	7TCr	8.2TCr	8.83TCr	9.67TCr
Accumulated Depreciation	-3.43TCr	-3.62TCr	-4.28TCr	-4.97TCr	-5.63TCr
Net Property Plant And Equipment	3.16TCr	3.38TCr	3.92TCr	3.86TCr	4.04TCr
Long-term Investments	104.8Cr	176.5Cr	164.7Cr	106.2Cr	123.6Cr
Goodwill	122.8Cr	122.8Cr	122.8Cr	115Cr	115Cr
Other Intangibles, Total	33Cr	35Cr	42Cr	40Cr	42Cr
Deferred Tax Assets Long-Term	71Cr	78Cr	70Cr	76Cr	52Cr
Other Long-Term Assets, Total	78Cr	105.4Cr	127.7Cr	104.4Cr	132.8Cr
Total Assets	5.37TCr	5.88TCr	6.63TCr	6.43TCr	6.94TCr
Liabilities
Accounts Payable, Total	219.1Cr	174.4Cr	214.2Cr	172.5Cr	272.6Cr
Accrued Expenses, Total	85Cr	98Cr	88Cr	37Cr	111.7Cr
Current Portion of Long-Term Debt	19Cr	10L	-	11Cr	11Cr
Current Portion of Leases	13Cr	21Cr	16Cr	24Cr	40Cr
Current Income Taxes Payable	24Cr	36Cr	42Cr	6.7Cr	22Cr
Unearned Revenue Current, Total	-	-	-	-	77Cr
Other Current Liabilities	303.4Cr	312.2Cr	393.7Cr	226.2Cr	391.9Cr
Total Current Liabilities	663.5Cr	642.4Cr	753.9Cr	476.5Cr	924.8Cr
Long-Term Debt	596.3Cr	597.2Cr	602Cr	1.19TCr	1.12TCr
Long-Term Leases	94Cr	115.3Cr	139.3Cr	171.2Cr	233.9Cr
Unearned Revenue Non Current	-	-	-	-	14Cr
Deferred Tax Liability Non Current	90L	1Cr	1.3Cr	12Cr	5.9Cr
Other Non Current Liabilities	113.2Cr	135.7Cr	141.1Cr	159.7Cr	126.1Cr
Total Liabilities	1.47TCr	1.49TCr	1.64TCr	2.01TCr	2.43TCr
Common Stock, Total	12Cr	12Cr	12Cr	12Cr	12Cr
Additional Paid In Capital	891.7Cr	945.3Cr	1.02TCr	1.1TCr	1.21TCr
Retained Earnings	3.34TCr	3.91TCr	4.73TCr	4.08TCr	4.09TCr
Treasury Stock	-349.5Cr	-469.5Cr	-712.7Cr	-755.2Cr	-785.2Cr
Comprehensive Income and Other	7.1Cr	20L	-56Cr	-31Cr	-13Cr
Total Common Equity	3.9TCr	4.39TCr	4.99TCr	4.41TCr	4.51TCr
Minority Interest	-	-	-	-	-
Total Equity	3.9TCr	4.39TCr	4.99TCr	4.41TCr	4.51TCr
Total Liabilities And Equity	5.37TCr	5.88TCr	6.63TCr	6.43TCr	6.94TCr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	111.32Cr	111.86Cr	108.72Cr	109.8Cr	110.87Cr
ECS Total Common Shares Outstanding	111.3Cr	111.9Cr	109.4Cr	109.8Cr	110.9Cr
Book Value / Share	35.04	39.26	45.62	40.18	40.7
Tangible Book Value	3.74TCr	4.24TCr	4.83TCr	4.26TCr	4.36TCr
Tangible Book Value Per Share	33.63	37.85	44.11	38.77	39.28
Total Debt	723Cr	733.5Cr	757.6Cr	1.4TCr	1.41TCr
Net Debt	-196Cr	-306.3Cr	-340.2Cr	356.1Cr	492.6Cr
Debt Equivalent of Unfunded Proj. Benefit Obligation	-2Cr	-3.4Cr	-3.5Cr	-5.7Cr	-7Cr
Debt Equivalent Oper. Leases	82Cr	86Cr	100Cr	109.6Cr	112Cr
Minority Interest, Total (Incl. Fin. Div)	-	-	-	-	-
Equity Method Investments, Total	-	-	-	-	-
Account Code - Inventory Valuation	6	6	5	5	5
Inventories - Raw Materials, Total	75Cr	50Cr	80Cr	66Cr	79Cr
Inventories - Work In Process, Total	385.4Cr	346.9Cr	483Cr	611.1Cr	677.4Cr
Inventories - Finished Goods, Total	100.1Cr	51Cr	102.8Cr	161.6Cr	130.8Cr
Land - (BS)	35Cr	28Cr	28Cr	28Cr	28Cr
Buildings, Total	1.4TCr	1.48TCr	1.67TCr	1.8TCr	2.01TCr
Machinery, Total	4.85TCr	5.19TCr	6.14TCr	6.56TCr	7.08TCr
Full Time Employees	40T	43T	48T	43T	48T
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-

Fiscal Period: August	2020	2021	2022	2023	2024
Net Income	268.7Cr	586.1Cr	868.7Cr	-583.3Cr	78Cr
Depreciation & Amortization - CF	565Cr	621.4Cr	711.6Cr	767Cr	769.8Cr
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	-	-
Depreciation & Amortization, Total	565Cr	621.4Cr	711.6Cr	767Cr	769.8Cr
Amortization of Deferred Charges, Total - (CF)	2.6Cr	3Cr	-	8.6Cr	8.2Cr
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Asset Writedown & Restructuring Costs	-	45Cr	4.4Cr	11Cr	-
(Income) Loss On Equity Investments - (CF)	-	-	-	-	-
Stock-Based Compensation (CF)	33Cr	38Cr	51Cr	60Cr	83Cr
Other Operating Activities, Total	2.3Cr	-4.9Cr	6.5Cr	182.4Cr	28Cr
Change In Accounts Receivable	-72Cr	-144.6Cr	19Cr	276.3Cr	-358.1Cr
Change In Inventories	-49Cr	87Cr	-217.9Cr	-355.5Cr	-49Cr
Change In Accounts Payable	72Cr	21Cr	74Cr	-210.4Cr	191.5Cr
Change in Unearned Revenues	-	-	-	-	-
Change In Deferred Taxes	7.9Cr	-5Cr	-	-	-
Change in Other Net Operating Assets	-	-	-	-	99Cr
Cash from Operations	830.6Cr	1.25TCr	1.52TCr	155.9Cr	850.7Cr
Capital Expenditure	-822.3Cr	-1TCr	-1.21TCr	-767.6Cr	-838.6Cr
Sale of Property, Plant, and Equipment	-	-	89Cr	-	-
Cash Acquisitions	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	42Cr	-105.7Cr	-16Cr	87Cr	-20Cr
Other Investing Activities, Total	22Cr	50Cr	-25Cr	62Cr	28Cr
Cash from Investing	-758.9Cr	-1.06TCr	-1.16TCr	-619.1Cr	-830.9Cr
Long-Term Debt Issued, Total	500Cr	118.8Cr	200Cr	671.6Cr	100Cr
Total Debt Issued	500Cr	118.8Cr	200Cr	671.6Cr	100Cr
Long-Term Debt Repaid, Total	-436.6Cr	-152Cr	-203.2Cr	-76Cr	-189.7Cr
Total Debt Repaid	-436.6Cr	-152Cr	-203.2Cr	-76Cr	-189.7Cr
Issuance of Common Stock	22Cr	-	-	-	-
Repurchase of Common Stock	-25Cr	-129.4Cr	-255.7Cr	-42Cr	-30Cr
Common Dividends Paid	-	-	-46Cr	-50Cr	-51Cr
Common & Preferred Stock Dividends Paid	-	-	-46Cr	-50Cr	-51Cr
Other Financing Activities, Total	-92Cr	-16Cr	7Cr	-4.3Cr	-13Cr
Cash from Financing	-32Cr	-178.1Cr	-298Cr	498.3Cr	-184.2Cr
Foreign Exchange Rate Adjustments	1.1Cr	4.1Cr	-11Cr	-3.4Cr	4Cr
Net Change in Cash	41Cr	14Cr	51Cr	32Cr	-160.4Cr
Supplemental Items
Cash Interest Paid	16Cr	17Cr	15Cr	32Cr	50Cr
Cash Income Tax Paid (Refund)	17Cr	36Cr	49Cr	53Cr	34Cr
Levered Free Cash Flow	-47Cr	-81Cr	148.6Cr	-513.34Cr	36Cr
Unlevered Free Cash Flow	-38Cr	-72Cr	160.41Cr	-489.09Cr	71Cr
Change In Net Working Capital	4.4Cr	154.8Cr	1.4Cr	215.5Cr	29Cr
Net Debt Issued / Repaid	63Cr	-33Cr	-3.2Cr	595.5Cr	-90Cr

Fiscal Period: August	2016	2020	2021	2022	2023	2024
Profitability
Return on Assets		3.73	7.55	9.7	-5.23	1.17
Return on Total Capital		4.3	8.71	11.16	-5.9	1.33
Return On Equity %		7.14	14.13	18.51	-12.41	1.74
Return on Common Equity		7.18	14.13	18.51	-12.41	1.74
Margin Analysis
Gross Profit Margin %		30.57	37.8	45.18	-9.11	22.35
SG&A Margin		4.11	3.23	3.47	5.92	4.5
EBITDA Margin %		40.63	46.96	54.7	14.23	35.62
EBITA Margin %		14.28	24.53	31.57	-35.13	4.96
EBIT Margin %		14.28	24.53	31.57	-35.13	4.96
Income From Continuing Operations Margin %		12.64	21.16	28.24	-37.54	3.1
Net Income Margin %		12.54	21.16	28.24	-37.54	3.1
Net Avail. For Common Margin %		12.54	21.16	28.24	-37.54	3.1
Normalized Net Income Margin		8.66	15.09	19.59	-21.57	2.99
Levered Free Cash Flow Margin		-2.2	-2.91	4.83	-33.03	1.45
Unlevered Free Cash Flow Margin		-1.76	-2.6	5.22	-31.47	2.85
Asset Turnover
Asset Turnover		0.42	0.49	0.49	0.24	0.38
Fixed Assets Turnover		0.72	0.85	0.84	0.4	0.64
Receivables Turnover (Average Receivables)		6.84	6.59	6.35	4.56	6.73
Inventory Turnover (Average Inventory)		2.78	3.5	3.02	2.25	2.26
Short Term Liquidity
Current Ratio		2.71	3.1	2.89	4.46	2.64
Quick Ratio		1.82	2.17	1.92	2.53	1.59
Operating Cash Flow to Current Liabilities		1.25	1.94	2.01	0.33	0.92
Days Sales Outstanding (Average Receivables)		54.28	55.27	57.31	79.79	54.12
Days Outstanding Inventory (Average Inventory)		133.68	104.13	120.36	161.54	161.13
Average Days Payable Outstanding		46.68	43.81	37.15	37.68	40.53
Cash Conversion Cycle (Average Days)	<