Micron Technology Inc (MU)
Cash ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 7,041,000 | 7,594,000 | 8,016,000 | 8,075,000 | 8,577,000 | 9,298,000 | 9,798,000 | 9,574,000 | 8,262,000 | 9,157,000 | 9,116,000 | 8,680,000 | 7,763,000 | 7,759,000 | 6,507,000 | 5,985,000 | 7,624,000 | 8,267,000 | 7,118,000 | 6,969,000 |
| Short-term investments | US$ in thousands | 1,065,000 | 785,000 | 990,000 | 973,000 | 1,017,000 | 1,054,000 | 1,020,000 | 1,007,000 | 1,069,000 | 1,070,000 | 1,006,000 | 900,000 | 870,000 | 590,000 | 677,000 | 1,047,000 | 518,000 | 391,000 | 363,000 | 619,000 |
| 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 |
| Cash ratio | 0.88 | 1.22 | 1.44 | 1.52 | 2.01 | 2.03 | 2.06 | 1.62 | 1.24 | 1.46 | 1.46 | 1.47 | 1.34 | 1.53 | 1.32 | 1.24 | 1.23 | 1.40 | 1.28 | 1.20 |
August 29, 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 fluctuations over the time periods indicated. The cash ratio represents the proportion of cash and cash equivalents to current liabilities, providing insight into the company's ability to cover its short-term obligations with liquid assets.
From November 2019 to August 2024, the cash ratio ranged from a low of 1.20 to a high of 2.06. The trend indicates that Micron Technology Inc had a relatively strong cash position compared to its current liabilities, with the ratio consistently above 1. This suggests the company had sufficient cash reserves to cover its short-term debt obligations during most of the periods analyzed.
The highest cash ratio of 2.06 was recorded in March 2023, indicating a peak in liquidity levels relative to current liabilities. This could imply a strong cash position or effective cash management practices during that period.
On the other hand, the lowest cash ratio of 1.20 was seen in November 2019, suggesting a relatively weaker liquidity position compared to the other periods. However, the ratio has generally stayed above 1, indicating a healthy ability to meet short-term obligations with cash and cash equivalents.
Overall, the varying cash ratio of Micron Technology Inc reflects fluctuations in its cash holdings relative to current liabilities over the analyzed time frame, but it generally indicates a solid liquidity position and the ability to cover its short-term debt obligations.
Peer comparison
Aug 29, 2024