Micron Technology Inc (MU)
Return on assets (ROA)
| Aug 29, 2024 | Aug 31, 2023 | Sep 1, 2022 | Sep 2, 2021 | Sep 3, 2020 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 778,000 | -5,833,000 | 8,687,000 | 5,861,000 | 2,687,000 |
| Total assets | US$ in thousands | 69,416,000 | 64,254,000 | 66,283,000 | 58,849,000 | 53,678,000 |
| ROA | 1.12% | -9.08% | 13.11% | 9.96% | 5.01% |
August 29, 2024 calculation
ROA = Net income ÷ Total assets
= $778,000K ÷ $69,416,000K
= 1.12%
Micron Technology Inc's return on assets (ROA) has shown significant fluctuations over the past five years. In the most recent period as of August 29, 2024, the ROA stood at 1.12%, indicating a positive return generated from the company's assets.
However, the previous year ending August 31, 2023, recorded a negative ROA of -9.08%, which suggests that the company did not efficiently utilize its assets to generate profits during that period.
The ROA for the fiscal year ending September 1, 2022, was notably high at 13.11%, indicating strong profitability relative to the assets employed in the business. This may suggest effective management of resources to generate earnings.
In the fiscal year ending September 2, 2021, Micron Technology Inc's ROA was 9.96%, reflecting a good performance in utilizing assets to generate profits.
Looking back to September 3, 2020, the company achieved an ROA of 5.01%, showing a positive trend in asset utilization and profitability.
Overall, the analysis of Micron Technology Inc's ROA over the past five years demonstrates varying levels of efficiency in generating profits from its assets. It is important for the company to consistently monitor and improve its asset utilization to enhance overall financial performance.
Peer comparison
Aug 29, 2024