Micron Technology Inc (MU)
Cash ratio
| Aug 31, 2024 | Aug 29, 2024 | Aug 31, 2023 | Sep 1, 2022 | Aug 31, 2022 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 7,041,000 | 7,041,000 | 8,577,000 | 8,262,000 | 8,262,000 |
| Short-term investments | US$ in thousands | 1,065,000 | 1,065,000 | 1,017,000 | 1,069,000 | 1,069,000 |
| Total current liabilities | US$ in thousands | 9,248,000 | 9,248,000 | 4,765,000 | 7,539,000 | 7,539,000 |
| Cash ratio | 0.88 | 0.88 | 2.01 | 1.24 | 1.24 |
August 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($7,041,000K
+ $1,065,000K)
÷ $9,248,000K
= 0.88
The cash ratio of Micron Technology Inc has shown some fluctuations over the past years. As of August 31, 2022, and September 1, 2022, the cash ratio stood at 1.24, indicating the company had $1.24 in cash and cash equivalents for every $1 of current liabilities. The ratio improved to 2.01 as of August 31, 2023, signaling a stronger liquidity position. However, there was a significant decline to 0.88 as of both August 29, 2024, and August 31, 2024, suggesting a potential strain on the company's ability to meet its short-term obligations solely through its available cash reserves. It is important for Micron Technology Inc to carefully manage its cash resources to maintain a healthy liquidity position and meet its financial obligations effectively.
Peer comparison
Aug 31, 2024