Micron Technology Inc (MU)
Inventory turnover
| Aug 31, 2024 | Aug 29, 2024 | Aug 31, 2023 | Sep 1, 2022 | Aug 31, 2022 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 19,498,000 | 20,886,000 | 16,956,000 | 18,158,000 | 16,860,000 |
| Inventory | US$ in thousands | 8,875,000 | 8,875,000 | 8,387,000 | 6,663,000 | 6,663,000 |
| Inventory turnover | 2.20 | 2.35 | 2.02 | 2.73 | 2.53 |
August 31, 2024 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $19,498,000K ÷ $8,875,000K
= 2.20
Based on the provided data for Micron Technology Inc's inventory turnover, we can observe fluctuations in this ratio over the years. The inventory turnover ratio indicates how efficiently the company is managing its inventory levels.
In August 31, 2022, the inventory turnover stood at 2.53, indicating that the company turned over its inventory approximately 2.53 times during that period. Subsequently, the ratio increased to 2.73 by September 1, 2022, suggesting an improvement in inventory management efficiency.
However, the ratio decreased to 2.02 by August 31, 2023, reflecting a potential slowdown in inventory turnover. This was followed by a slight recovery as the ratio rose to 2.35 by August 29, 2024. Finally, by August 31, 2024, the inventory turnover ratio slightly decreased to 2.20.
Overall, fluctuations in the inventory turnover ratio indicate varying levels of efficiency in inventory management over the years for Micron Technology Inc. Further analysis of industry benchmarks and trends within the company's sector may provide additional insights into the effectiveness of the company's inventory management strategies.
Peer comparison
Aug 31, 2024