Micron Technology Inc (MU)
Working capital 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 current assets | US$ in thousands | 24,372,000 | 23,319,000 | 23,435,000 | 21,058,000 | 21,244,000 | 21,734,000 | 21,898,000 | 22,921,000 | 21,781,000 | 22,708,000 | 21,502,000 | 20,191,000 | 19,907,000 | 18,561,000 | 17,279,000 | 16,529,000 | 17,965,000 | 17,899,000 | 15,976,000 | 16,167,000 |
| Total current liabilities | US$ in thousands | 9,248,000 | 6,840,000 | 6,259,000 | 5,962,000 | 4,765,000 | 5,104,000 | 5,255,000 | 6,525,000 | 7,539,000 | 7,009,000 | 6,918,000 | 6,512,000 | 6,424,000 | 5,462,000 | 5,433,000 | 5,688,000 | 6,635,000 | 6,185,000 | 5,822,000 | 6,317,000 |
| Working capital turnover | 1.66 | 1.27 | 1.33 | 1.38 | 1.23 | 1.38 | 1.37 | 1.65 | 2.14 | 2.05 | 2.12 | 2.15 | 2.04 | 1.93 | 1.97 | 2.02 | 1.88 | 1.72 | 1.92 | 2.09 |
August 29, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $25,154,000K ÷ ($24,372,000K – $9,248,000K)
= 1.66
The working capital turnover ratio for Micron Technology Inc has shown fluctuations over the past few quarters, ranging from 1.23 to 2.14. This ratio measures how efficiently the company is using its working capital to generate sales revenue. With a working capital turnover ratio below 1, it indicates that the company may be inefficient in utilizing its current assets to support sales and operations.
In the recent quarters, the working capital turnover ratio has been relatively stable, hovering around 1.5 to 2.1. A higher ratio suggests that the company is effectively managing its working capital to generate sales. An increasing trend in the ratio indicates that Micron Technology Inc is improving its efficiency in using its current assets to drive sales growth.
Overall, Micron Technology Inc's working capital turnover ratio reflects a moderate level of efficiency in utilizing its working capital to generate revenue. The company should continue monitoring and optimizing its working capital management to sustain and improve its operational performance.
Peer comparison
Aug 29, 2024
See also:
Micron Technology Inc Working Capital Turnover (Quarterly Data)