Micron Technology Inc (MU)

Total asset 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
Total assets	US$ in thousands	69,416,000	69,416,000	64,254,000	66,283,000	66,283,000
Total asset turnover		0.36	0.36	0.24	0.46	0.46

August 31, 2024 calculation

Total asset turnover = Revenue ÷ Total assets
= $25,111,000K ÷ $69,416,000K
= 0.36

The total asset turnover ratio measures a company's ability to generate revenue from its total assets. In the case of Micron Technology Inc, the total asset turnover ratio has fluctuated over the past few years.

As of August 31, 2022, and September 1, 2022, the total asset turnover ratio was stable at 0.46, indicating that Micron was generating $0.46 of revenue for every dollar of total assets. However, there was a significant decline in the ratio to 0.24 as of August 31, 2023, suggesting a decrease in the efficiency of asset utilization to generate revenue.

The ratio improved to 0.36 as of both August 29, 2024, and August 31, 2024. While there was an improvement from the previous year, the total asset turnover ratio still remains below the initial level observed in 2022.

Overall, the fluctuations in the total asset turnover ratio of Micron Technology Inc indicate varying levels of efficiency in utilizing its assets to generate revenue over the years. Further analysis of the company's operational and financial strategies may be necessary to understand the factors influencing these changes.