Micron Technology Inc (MU)
Gross profit margin
| Aug 31, 2024 | Aug 29, 2024 | Aug 31, 2023 | Sep 1, 2022 | Aug 31, 2022 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 5,613,000 | 5,613,000 | -1,416,000 | 13,898,000 | 13,898,000 |
| Revenue | US$ in thousands | 25,111,000 | 25,170,000 | 15,540,000 | 30,527,000 | 30,758,000 |
| Gross profit margin | 22.35% | 22.30% | -9.11% | 45.53% | 45.18% |
August 31, 2024 calculation
Gross profit margin = Gross profit ÷ Revenue
= $5,613,000K ÷ $25,111,000K
= 22.35%
The gross profit margin of Micron Technology Inc has shown some fluctuations over the years, indicating a varying level of profitability in its operations. As of August 31, 2022, the gross profit margin stood at 45.18%, reflecting a healthy profit margin on sales after accounting for the cost of goods sold. The margin slightly improved to 45.53% by September 1, 2022, indicating an increasing efficiency in managing production costs.
However, there was a significant decline in the gross profit margin to -9.11% by August 31, 2023, which is a concerning negative margin that may suggest potential issues with cost management or pricing strategies during that period. The company managed to recover in the following years, with the gross profit margin reaching 22.30% by August 29, 2024, and a slight increase to 22.35% by August 31, 2024.
Overall, the trend in the gross profit margin of Micron Technology Inc highlights the importance of monitoring and managing production costs effectively to sustain profitability and competitiveness in the market.
Peer comparison
Aug 31, 2024