Micron Technology Inc (MU)

Return on assets (ROA)

		Aug 31, 2024	Aug 29, 2024	Aug 31, 2023	Sep 1, 2022	Aug 31, 2022
Net income	US$ in thousands	778,000	778,000	-5,833,000	8,687,000	8,687,000
Total assets	US$ in thousands	69,416,000	69,416,000	64,254,000	66,283,000	66,283,000
ROA		1.12%	1.12%	-9.08%	13.11%	13.11%

August 31, 2024 calculation

ROA = Net income ÷ Total assets
= $778,000K ÷ $69,416,000K
= 1.12%

Based on the data provided, the return on assets (ROA) for Micron Technology Inc has varied over the past few years.

1. In August 31, 2022 and September 1, 2022, the ROA stood at 13.11%, indicating the company was generating a healthy return on its assets during that period.

2. However, in August 31, 2023, the ROA plummeted to -9.08%, which suggests that during this period, the company's assets were not effectively utilized to generate profits or there may have been significant losses incurred.

3. The ROA then improved slightly to 1.12% in August 29, 2024 and continued at the same level in August 31, 2024. While this increase shows some recovery from the negative performance in 2023, the ROA still remains relatively low compared to the earlier years.

Overall, the trend in the ROA indicates fluctuations in how efficiently Micron Technology Inc is utilizing its assets to generate profits. It is crucial for the company to focus on improving asset efficiency to ensure sustainable profitability in the long term.