Micron Technology Inc (MU)
Total asset turnover
| Aug 29, 2024 | Aug 31, 2023 | Sep 1, 2022 | Sep 2, 2021 | Sep 3, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 25,170,000 | 15,206,000 | 30,527,000 | 27,545,000 | 21,284,000 |
| Total assets | US$ in thousands | 69,416,000 | 64,254,000 | 66,283,000 | 58,849,000 | 53,678,000 |
| Total asset turnover | 0.36 | 0.24 | 0.46 | 0.47 | 0.40 |
August 29, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $25,170,000K ÷ $69,416,000K
= 0.36
Micron Technology Inc's total asset turnover ratio has exhibited fluctuations over the past five years. The ratio increased significantly from 0.24 in September 2023 to 0.46 in September 2022, indicating that the company generated more revenue for each dollar of assets during that period. However, the ratio declined slightly to 0.47 in September 2021 before dropping to 0.40 in September 2020.
A total asset turnover ratio of 0.36 in August 2024 suggests that, for every dollar invested in assets, Micron generated $0.36 in revenue. This may indicate that the company is not efficiently utilizing its assets to generate sales compared to the previous year but is still able to generate revenue from its asset base. It is essential for Micron to further analyze its asset management processes in order to improve operational efficiency and maximize its revenue generation potential.
Peer comparison
Aug 29, 2024