Cash flow Micron Technology, Inc.

Equities

MU

US5951121038

Semiconductors

Market Closed - Nasdaq Other stock markets 04:00:00 2024-12-13 pm EST			5-day change	1st Jan Change
102.50 ^USD	+4.34%		+1.31%	+20.11%

Dec. 13	Samsung, SK Hynix Await Subsidy Approval as Micron Secures $6.1 Billion CHIPS Act Funding	MT
Dec. 12	Europe eases with Swiss surprise as Nasdaq clocks 20k	RE

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Published financial data: MICRON TECHNOLOGY, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: August	2020	2021	2022	2023	2024
Revenues	21.44B	27.7B	30.76B	15.54B	25.11B
Total Revenues	21.44B	27.7B	30.76B	15.54B	25.11B
Cost of Goods Sold, Total	14.88B	17.23B	16.86B	16.96B	19.5B
Gross Profit	6.55B	10.47B	13.9B	-1.42B	5.61B
Selling General & Admin Expenses, Total	881M	894M	1.07B	920M	1.13B
Stock-Based Compensation (IS)	-	-	-	-	-
R&D Expenses	2.6B	2.66B	3.12B	3.11B	3.43B
Other Operating Expenses	11M	119M	7M	9M	-192M
Other Operating Expenses, Total	3.49B	3.68B	4.19B	4.04B	4.37B
Operating Income	3.06B	6.8B	9.71B	-5.46B	1.25B
Interest Expense, Total	-194M	-183M	-189M	-388M	-562M
Interest And Investment Income	114M	37M	96M	468M	529M
Net Interest Expenses	-80M	-146M	-93M	80M	-33M
Income (Loss) On Equity Invest.	7M	37M	4M	2M	-11M
Currency Exchange Gains (Loss)	-8M	-	-	-	-
Other Non Operating Income (Expenses)	28M	-	19M	15M	1M
EBT, Excl. Unusual Items	3.01B	6.69B	9.64B	-5.36B	1.2B
Restructuring Charges	11M	-537M	-48M	-171M	-1M
Merger & Related Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-	-	-	-101M	-
Gain (Loss) On Sale Of Investments	-	82M	26M	-8M	-32M
Gain (Loss) On Sale Of Assets	3M	24M	41M	54M	59M
Asset Writedown	-71M	-	-	-	-
Legal Settlements	-	-	-	-68M	-
Other Unusual Items	40M	-1M	-83M	-	-
EBT, Incl. Unusual Items	2.99B	6.26B	9.58B	-5.66B	1.23B
Income Tax Expense	280M	394M	888M	177M	451M
Earnings From Continuing Operations	2.71B	5.86B	8.69B	-5.83B	778M
Net Income to Company	2.71B	5.86B	8.69B	-5.83B	778M
Minority Interest	-23M	-	-	-	-
Net Income - (IS)	2.69B	5.86B	8.69B	-5.83B	778M
Net Income to Common Incl Extra Items	2.69B	5.86B	8.69B	-5.83B	778M
Net Income to Common Excl. Extra Items	2.69B	5.86B	8.69B	-5.83B	778M
Per Share Items
Net EPS - Basic	2.42	5.23	7.81	-5.34	0.7
Basic EPS - Continuing Operations	2.42	5.23	7.81	-5.34	0.7
Basic Weighted Average Shares Outstanding	1.11B	1.12B	1.11B	1.09B	1.1B
Net EPS - Diluted	2.37	5.14	7.75	-5.34	0.7
Diluted EPS - Continuing Operations	2.37	5.14	7.75	-5.34	0.7
Diluted Weighted Average Shares Outstanding	1.13B	1.14B	1.12B	1.09B	1.12B
Normalized Basic EPS	1.67	3.73	5.42	-3.07	0.68
Normalized Diluted EPS	1.64	3.66	5.37	-3.07	0.67
Dividend Per Share	-	0.1	0.43	0.46	0.46
Payout Ratio	-	-	5.31	-8.64	65.94
American Depositary Receipts Ratio (ADR)	0.17	0.17	0.17	0.17	0.17
Supplemental Items
EBITDA	8.71B	13.01B	16.82B	2.21B	8.94B
EBITA	3.06B	6.8B	9.71B	-5.46B	1.25B
EBIT	3.06B	6.8B	9.71B	-5.46B	1.25B
EBITDAR	8.81B	13.12B	16.95B	2.35B	9.08B
Effective Tax Rate - (Ratio)	9.36	6.3	9.27	-3.13	36.7
Current Domestic Taxes	22M	43M	66M	6M	83M
Current Foreign Taxes	148M	370M	528M	178M	333M
Total Current Taxes	170M	413M	594M	184M	416M
Deferred Domestic Taxes	-62M	-19M	391M	84M	-18M
Deferred Foreign Taxes	172M	-	-97M	-91M	53M
Total Deferred Taxes	110M	-19M	294M	-7M	35M
Normalized Net Income	1.86B	4.18B	6.02B	-3.35B	752M
Interest Capitalized	77M	66M	77M	208M	225M
Interest on Long-Term Debt	107M	86M	101M	232M	295M
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	2.6B	2.66B	3.12B	3.11B	3.43B
Net Rental Expense, Total	102M	108M	125M	137M	140M
Imputed Operating Lease Interest Expense	33.81M	29.54M	35.68M	60.55M	62.79M
Imputed Operating Lease Depreciation	68.19M	78.46M	89.32M	76.45M	77.21M
Stock-Based Comp., COGS (Total)	139M	186M	193M	201M	312M
Stock-Based Comp., R&D Exp. (Total)	86M	110M	175M	226M	296M
Stock-Based Comp., SG&A Exp. (Total)	103M	99M	133M	137M	213M
Stock-Based Comp., Other (Total)	-	-	-	32M	12M
Total Stock-Based Compensation	328M	395M	501M	596M	833M

Fiscal Period: August	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	7.62B	7.76B	8.26B	8.58B	7.04B
Short Term Investments	518M	870M	1.07B	1.02B	1.06B
Total Cash And Short Term Investments	8.14B	8.63B	9.33B	9.59B	8.11B
Accounts Receivable, Total	3.49B	4.92B	4.76B	2.05B	5.42B
Other Receivables	418M	391M	365M	395M	1.2B
Total Receivables	3.91B	5.31B	5.13B	2.44B	6.62B
Inventory	5.61B	4.49B	6.66B	8.39B	8.88B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	304M	1.48B	657M	820M	776M
Total Current Assets	17.96B	19.91B	21.78B	21.24B	24.37B
Gross Property Plant And Equipment	65.92B	70.01B	82.01B	88.25B	96.69B
Accumulated Depreciation	-34.3B	-36.25B	-42.78B	-49.66B	-56.3B
Net Property Plant And Equipment	31.62B	33.76B	39.23B	38.59B	40.39B
Long-term Investments	1.05B	1.76B	1.65B	1.06B	1.24B
Goodwill	1.23B	1.23B	1.23B	1.15B	1.15B
Other Intangibles, Total	334M	349M	421M	404M	416M
Deferred Tax Assets Long-Term	707M	782M	702M	756M	520M
Other Long-Term Assets, Total	781M	1.05B	1.28B	1.04B	1.33B
Total Assets	53.68B	58.85B	66.28B	64.25B	69.42B
Liabilities
Accounts Payable, Total	2.19B	1.74B	2.14B	1.72B	2.73B
Accrued Expenses, Total	849M	984M	877M	367M	1.12B
Current Portion of Long-Term Debt	194M	1M	-	106M	106M
Current Portion of Leases	130M	209M	163M	238M	396M
Current Income Taxes Payable	237M	364M	420M	67M	218M
Unearned Revenue Current, Total	-	-	-	-	766M
Other Current Liabilities	3.03B	3.12B	3.94B	2.26B	3.92B
Total Current Liabilities	6.64B	6.42B	7.54B	4.76B	9.25B
Long-Term Debt	5.96B	5.97B	6.02B	11.94B	11.24B
Long-Term Leases	943M	1.15B	1.39B	1.71B	2.34B
Unearned Revenue Non Current	-	-	-	-	141M
Deferred Tax Liability Non Current	9M	10M	13M	117M	59M
Other Non Current Liabilities	1.13B	1.36B	1.41B	1.6B	1.26B
Total Liabilities	14.68B	14.92B	16.38B	20.13B	24.28B
Common Stock, Total	119M	122M	123M	124M	125M
Additional Paid In Capital	8.92B	9.45B	10.2B	11.04B	12.12B
Retained Earnings	33.38B	39.05B	47.27B	40.82B	40.88B
Treasury Stock	-3.5B	-4.7B	-7.13B	-7.55B	-7.85B
Comprehensive Income and Other	71M	2M	-560M	-312M	-134M
Total Common Equity	39B	43.93B	49.91B	44.12B	45.13B
Minority Interest	-	-	-	-	-
Total Equity	39B	43.93B	49.91B	44.12B	45.13B
Total Liabilities And Equity	53.68B	58.85B	66.28B	64.25B	69.42B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.11B	1.12B	1.09B	1.1B	1.11B
ECS Total Common Shares Outstanding	1.11B	1.12B	1.09B	1.1B	1.11B
Book Value / Share	35.04	39.26	45.62	40.18	40.7
Tangible Book Value	37.43B	42.36B	48.26B	42.57B	43.56B
Tangible Book Value Per Share	33.63	37.85	44.11	38.77	39.28
Total Debt	7.23B	7.34B	7.58B	14B	14.08B
Net Debt	-1.96B	-3.06B	-3.4B	3.56B	4.93B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-20M	-34M	-35M	-57M	-70M
Debt Equivalent Oper. Leases	816M	864M	1B	1.1B	1.12B
Minority Interest, Total (Incl. Fin. Div)	-	-	-	-	-
Equity Method Investments, Total	-	-	-	-	-
Account Code - Inventory Valuation	6	6	5	5	5
Inventories - Raw Materials, Total	752M	505M	805M	660M	793M
Inventories - Work In Process, Total	3.85B	3.47B	4.83B	6.11B	6.77B
Inventories - Finished Goods, Total	1B	513M	1.03B	1.62B	1.31B
Land - (BS)	352M	280M	280M	283M	284M
Buildings, Total	13.98B	14.78B	16.68B	17.97B	20.14B
Machinery, Total	48.52B	51.9B	61.35B	65.56B	70.81B
Full Time Employees	40K	43K	48K	43K	48K
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-

Fiscal Period: August	2020	2021	2022	2023	2024
Net Income	2.69B	5.86B	8.69B	-5.83B	778M
Depreciation & Amortization - CF	5.65B	6.21B	7.12B	7.67B	7.7B
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	-	-
Depreciation & Amortization, Total	5.65B	6.21B	7.12B	7.67B	7.7B
Amortization of Deferred Charges, Total - (CF)	26M	30M	-	86M	82M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Asset Writedown & Restructuring Costs	-	454M	44M	112M	-
(Income) Loss On Equity Investments - (CF)	-	-	-	-	-
Stock-Based Compensation (CF)	328M	378M	514M	596M	833M
Other Operating Activities, Total	23M	-49M	65M	1.82B	281M
Change In Accounts Receivable	-723M	-1.45B	190M	2.76B	-3.58B
Change In Inventories	-489M	866M	-2.18B	-3.56B	-488M
Change In Accounts Payable	725M	210M	744M	-2.1B	1.92B
Change in Unearned Revenues	-	-	-	-	-
Change In Deferred Taxes	79M	-50M	-	-	-
Change in Other Net Operating Assets	-	-	-	-	989M
Cash from Operations	8.31B	12.47B	15.18B	1.56B	8.51B
Capital Expenditure	-8.22B	-10.03B	-12.07B	-7.68B	-8.39B
Sale of Property, Plant, and Equipment	-	-	888M	-	-
Cash Acquisitions	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	415M	-1.06B	-155M	868M	-205M
Other Investing Activities, Total	219M	498M	-251M	617M	282M
Cash from Investing	-7.59B	-10.59B	-11.58B	-6.19B	-8.31B
Long-Term Debt Issued, Total	5B	1.19B	2B	6.72B	999M
Total Debt Issued	5B	1.19B	2B	6.72B	999M
Long-Term Debt Repaid, Total	-4.37B	-1.52B	-2.03B	-761M	-1.9B
Total Debt Repaid	-4.37B	-1.52B	-2.03B	-761M	-1.9B
Issuance of Common Stock	225M	-	-	-	-
Repurchase of Common Stock	-251M	-1.29B	-2.56B	-425M	-300M
Common Dividends Paid	-	-	-461M	-504M	-513M
Common & Preferred Stock Dividends Paid	-	-	-461M	-504M	-513M
Other Financing Activities, Total	-925M	-155M	70M	-43M	-131M
Cash from Financing	-317M	-1.78B	-2.98B	4.98B	-1.84B
Foreign Exchange Rate Adjustments	11M	41M	-106M	-34M	40M
Net Change in Cash	411M	139M	510M	317M	-1.6B
Supplemental Items
Cash Interest Paid	165M	171M	154M	323M	503M
Cash Income Tax Paid (Refund)	167M	361M	493M	532M	338M
Levered Free Cash Flow	-472M	-806M	1.49B	-5.13B	364M
Unlevered Free Cash Flow	-376M	-722M	1.6B	-4.89B	715M
Change In Net Working Capital	44M	1.55B	14M	2.16B	291M
Net Debt Issued / Repaid	634M	-332M	-32M	5.96B	-898M

Fiscal Period: August	2020	2021	2022	2023	2024
Profitability
Return on Assets	3.73	7.55	9.7	-5.23	1.17
Return on Total Capital	4.3	8.71	11.16	-5.9	1.33
Return On Equity %	7.14	14.13	18.51	-12.41	1.74
Return on Common Equity	7.18	14.13	18.51	-12.41	1.74
Margin Analysis
Gross Profit Margin %	30.57	37.8	45.18	-9.11	22.35
SG&A Margin	4.11	3.23	3.47	5.92	4.5
EBITDA Margin %	40.63	46.96	54.7	14.23	35.62
EBITA Margin %	14.28	24.53	31.57	-35.13	4.96
EBIT Margin %	14.28	24.53	31.57	-35.13	4.96
Income From Continuing Operations Margin %	12.64	21.16	28.24	-37.54	3.1
Net Income Margin %	12.54	21.16	28.24	-37.54	3.1
Net Avail. For Common Margin %	12.54	21.16	28.24	-37.54	3.1
Normalized Net Income Margin	8.66	15.09	19.59	-21.57	2.99
Levered Free Cash Flow Margin	-2.2	-2.91	4.83	-33.03	1.45
Unlevered Free Cash Flow Margin	-1.76	-2.6	5.22	-31.47	2.85
Asset Turnover
Asset Turnover	0.42	0.49	0.49	0.24	0.38
Fixed Assets Turnover	0.72	0.85	0.84	0.4	0.64
Receivables Turnover (Average Receivables)	6.84	6.59	6.35	4.56	6.73
Inventory Turnover (Average Inventory)	2.78	3.5	3.02	2.25	2.26
Short Term Liquidity
Current Ratio	2.71	3.1	2.89	4.46	2.64
Quick Ratio	1.82	2.17	1.92	2.53	1.59
Operating Cash Flow to Current Liabilities	1.25	1.94	2.01	0.33	0.92
Days Sales Outstanding (Average Receivables)	54.28	55.27	57.31	79.79	54.12
Days Outstanding Inventory (Average Inventory)	133.68	104.13	120.36	161.54	161.13
Average Days Payable Outstanding	46.68	43.81	37.15	37.68	40.53
Cash Conversion Cycle (Average Days)	141.28	115.6	140.52	203.66	174.72
Long Term Solvency