Micron Technology Inc (MU)
Quick 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 | 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 |
| Receivables | US$ in thousands | 6,615,000 | 5,131,000 | 4,296,000 | 2,943,000 | 2,443,000 | 2,429,000 | 2,278,000 | 3,318,000 | 5,130,000 | 6,229,000 | 5,384,000 | 5,250,000 | 5,311,000 | 4,231,000 | 3,353,000 | 3,691,000 | 3,912,000 | 3,603,000 | 3,049,000 | 3,419,000 |
| 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 |
| Quick ratio | 1.59 | 1.98 | 2.13 | 2.01 | 2.53 | 2.50 | 2.49 | 2.13 | 1.92 | 2.35 | 2.24 | 2.28 | 2.17 | 2.30 | 1.94 | 1.89 | 1.82 | 1.98 | 1.81 | 1.74 |
August 29, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($7,041,000K
+ $1,065,000K
+ $6,615,000K)
÷ $9,248,000K
= 1.59
The quick ratio of Micron Technology Inc has exhibited some fluctuations over the past several quarters. The ratio, which measures the company's ability to cover its short-term liabilities with its most liquid assets, shows a generally healthy trend with values consistently above 1.
In the most recent quarter as of August 29, 2024, the quick ratio stands at 1.59, indicating that the company has $1.59 in current assets to cover each dollar of current liabilities. This implies a relatively strong liquidity position.
Looking back over the past few quarters, we observe variations in the quick ratio with values ranging from a low of 1.74 to a high of 2.53. Notably, the quick ratio peaked at 2.53 on August 31, 2023, showing a significant improvement in liquidity at that time.
Overall, the quick ratio of Micron Technology Inc has generally remained above 1, suggesting that the company has maintained a solid ability to meet its short-term obligations. However, investors and analysts may want to continue monitoring this ratio to ensure the company's liquidity remains at healthy levels.
Peer comparison
Aug 29, 2024