Micron Technology Inc (MU)
Current 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| Current ratio | 2.64 | 3.41 | 3.74 | 3.53 | 4.46 | 4.26 | 4.17 | 3.51 | 2.89 | 3.24 | 3.11 | 3.10 | 3.10 | 3.40 | 3.18 | 2.91 | 2.71 | 2.89 | 2.74 | 2.56 |
August 29, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $24,372,000K ÷ $9,248,000K
= 2.64
The current ratio for Micron Technology Inc has shown fluctuations over the past few quarters, ranging from a low of 2.56 to a high of 4.46. The current ratio measures the company's ability to cover its short-term liabilities with its current assets; a ratio above 1 indicates that a company has more current assets than current liabilities.
The ratio has generally been above 3, indicating that Micron Technology has had a strong ability to cover its short-term obligations with its current assets during these periods. The peak ratio of 4.46 in August 31, 2023, suggests a very strong liquidity position, while the lowest ratio of 2.56 in November 28, 2019, indicates a relatively weaker liquidity position.
Overall, the current ratio fluctuates but has generally been at levels that indicate the company is in a good position to meet its short-term financial obligations. It's important to continue monitoring this ratio in conjunction with other financial metrics to assess the company's overall financial health.
Peer comparison
Aug 29, 2024