Micron Technology Inc (MU)
Total asset turnover
| Aug 29, 2024 | May 30, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | Jun 1, 2023 | Mar 2, 2023 | Dec 1, 2022 | Sep 1, 2022 | Jun 2, 2022 | Mar 3, 2022 | Dec 2, 2021 | Sep 2, 2021 | Jun 3, 2021 | Mar 4, 2021 | Dec 3, 2020 | Sep 3, 2020 | May 28, 2020 | Feb 27, 2020 | Nov 28, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 25,154,000 | 20,871,000 | 22,897,000 | 20,821,000 | 20,261,000 | 22,995,000 | 22,873,000 | 26,991,000 | 30,516,000 | 32,144,000 | 30,916,000 | 29,379,000 | 27,545,000 | 25,310,000 | 23,319,000 | 21,874,000 | 21,286,000 | 20,140,000 | 19,514,000 | 20,570,000 |
| Total assets | US$ in thousands | 69,416,000 | 66,255,000 | 65,718,000 | 63,776,000 | 64,254,000 | 65,680,000 | 66,520,000 | 67,874,000 | 66,283,000 | 65,296,000 | 63,696,000 | 61,246,000 | 58,849,000 | 55,943,000 | 54,135,000 | 53,691,000 | 53,678,000 | 52,005,000 | 49,648,000 | 49,649,000 |
| Total asset turnover | 0.36 | 0.32 | 0.35 | 0.33 | 0.32 | 0.35 | 0.34 | 0.40 | 0.46 | 0.49 | 0.49 | 0.48 | 0.47 | 0.45 | 0.43 | 0.41 | 0.40 | 0.39 | 0.39 | 0.41 |
August 29, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $25,154,000K ÷ $69,416,000K
= 0.36
Total asset turnover measures a company's efficiency in generating revenue from its assets. For Micron Technology Inc, the total asset turnover ratio has shown some fluctuations over the past two years, ranging from 0.32 to 0.49.
The company's total asset turnover ratio was relatively low in the early period but saw an improvement in the most recent quarters. This improvement indicates that Micron has been able to generate more revenue relative to its total assets, suggesting improved asset utilization and efficiency.
However, it is important to note that the ratios are below 1, indicating that Micron is not turning over its assets as quickly as some other companies. This could be due to the nature of the industry or the company's business model, where assets may have longer useful lives.
Overall, while there have been fluctuations in the total asset turnover ratio, the recent trend showing an increase suggests that the company is becoming more efficient in utilizing its assets to generate revenue.
Peer comparison
Aug 29, 2024