Micron Technology Inc (MU)
Receivables turnover
| Aug 31, 2024 | Aug 29, 2024 | Aug 31, 2023 | Sep 1, 2022 | Aug 31, 2022 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 25,111,000 | 25,170,000 | 15,540,000 | 30,527,000 | 30,758,000 |
| Receivables | US$ in thousands | — | 6,615,000 | — | 5,130,000 | — |
| Receivables turnover | — | 3.80 | — | 5.95 | — |
August 31, 2024 calculation
Receivables turnover = Revenue ÷ Receivables
= $25,111,000K ÷ $—K
= —
The receivables turnover ratio measures how efficiently a company is able to collect cash from its credit sales. Based on the data provided for Micron Technology Inc, the receivables turnover ratio was 5.95 on September 1, 2022, and 3.80 on August 29, 2024.
A higher receivables turnover ratio indicates that the company is collecting its accounts receivable more quickly, which is generally a positive sign of efficient operations. On the other hand, a lower ratio may suggest that the company is taking longer to collect on its credit sales, which could potentially indicate issues with customer creditworthiness or collection processes.
It is noteworthy that there is missing data for August 31, 2022, and August 31, 2023, which limits the ability to perform a trend analysis over time. However, the fluctuations in the receivables turnover ratio between 2022 and 2024 may warrant further investigation into the company's credit policies and collection procedures to assess the reasons behind the changes observed.
Peer comparison
Aug 31, 2024