Micron Technology Inc (MU)
Current ratio
| Aug 31, 2024 | Aug 29, 2024 | Aug 31, 2023 | Sep 1, 2022 | Aug 31, 2022 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 24,372,000 | 24,372,000 | 21,244,000 | 21,781,000 | 21,781,000 |
| Total current liabilities | US$ in thousands | 9,248,000 | 9,248,000 | 4,765,000 | 7,539,000 | 7,539,000 |
| Current ratio | 2.64 | 2.64 | 4.46 | 2.89 | 2.89 |
August 31, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $24,372,000K ÷ $9,248,000K
= 2.64
The current ratio of Micron Technology Inc has displayed some fluctuations over the past few years, ranging from 2.64 to 4.46. Generally, a current ratio above 1 indicates the company's ability to cover its short-term liabilities with its current assets.
In August 2023, the current ratio significantly increased to 4.46, reflecting a strong liquidity position with substantial current assets to meet short-term obligations. However, the ratio decreased to 2.64 in both August 2024 instances, suggesting a slight decline in liquidity compared to the previous year.
Overall, the current ratio of Micron Technology Inc remains above 1, indicating a healthy liquidity position. Investors and analysts should continue monitoring this ratio to assess the company's ability to manage its short-term liabilities effectively.
Peer comparison
Aug 31, 2024