Micron Technology Inc (MU)
Payables 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 |
| Payables | US$ in thousands | — | 3,039,000 | — | 2,623,000 | — |
| Payables turnover | — | 6.87 | — | 6.92 | — |
August 31, 2024 calculation
Payables turnover = Cost of revenue ÷ Payables
= $19,498,000K ÷ $—K
= —
The payables turnover ratio for Micron Technology Inc can be calculated by dividing the cost of goods sold by the average accounts payable for the specific period. In this case, we will use the formula:
Payables Turnover = Cost of Goods Sold / Average Accounts Payable
Based on the provided data, we can see that the payables turnover ratio for the company is as follows:
- September 1, 2022: 6.92
- August 29, 2024: 6.87
The payables turnover ratio measures how many times a company pays off its accounts payables in a given period, indicating how efficiently the company manages its payables. A higher payables turnover ratio suggests that the company is paying off its suppliers more quickly.
In the case of Micron Technology Inc, the payables turnover ratios of 6.92 on September 1, 2022, and 6.87 on August 29, 2024, indicate that the company is managing its payables effectively, paying off its suppliers multiple times in the respective periods. This shows that Micron Technology Inc efficiently utilizes its accounts payable to fund its operations and maintain good relationships with its suppliers.
Peer comparison
Aug 31, 2024