Micron Technology Inc (MU)
Current ratio
| Aug 29, 2024 | Aug 31, 2023 | Sep 1, 2022 | Sep 2, 2021 | Sep 3, 2020 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 24,372,000 | 21,244,000 | 21,781,000 | 19,907,000 | 17,965,000 |
| Total current liabilities | US$ in thousands | 9,248,000 | 4,765,000 | 7,539,000 | 6,424,000 | 6,635,000 |
| Current ratio | 2.64 | 4.46 | 2.89 | 3.10 | 2.71 |
August 29, 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 shown fluctuations over the past five years, ranging from 2.64 to 4.46. A higher current ratio indicates better short-term liquidity and ability to cover current liabilities with current assets. In 2023, the company demonstrated strong liquidity with a current ratio of 4.46, suggesting a healthy financial position. However, this ratio decreased to 2.64 in 2024, signaling a potential decrease in short-term liquidity. It is important to monitor this ratio over time to assess Micron Technology Inc's ability to meet its short-term obligations and manage working capital effectively.
Peer comparison
Aug 29, 2024