Stock Analysis on Net
Stock Analysis on Net

Micron Technology Inc. (NASDAQ:MU)

DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
Quarterly Data

Microsoft Excel

Decomposing ROE involves expressing net income divided by shareholders’ equity as the product of component ratios.

Two-Component Disaggregation of ROE

Micron Technology Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = ROA × Financial Leverage
Aug 29, 2024 1.72% = 1.12% × 1.54
May 30, 2024 -3.48% = -2.32% × 1.50
Feb 29, 2024 -8.59% = -5.73% × 1.50
Nov 30, 2023 -16.02% = -10.78% × 1.49
Aug 31, 2023 -13.22% = -9.08% × 1.46
Jun 1, 2023 -6.41% = -4.43% × 1.45
Mar 2, 2023 3.41% = 2.42% × 1.41
Dec 1, 2022 12.55% = 9.11% × 1.38
Sep 1, 2022 17.41% = 13.11% × 1.33
Jun 2, 2022 20.12% = 15.18% × 1.32
Mar 3, 2022 18.86% = 14.17% × 1.33
Dec 2, 2021 16.04% = 12.02% × 1.33
Sep 2, 2021 13.34% = 9.96% × 1.34
Jun 3, 2021 9.77% = 7.38% × 1.32
Mar 4, 2021 7.86% = 5.91% × 1.33
Dec 3, 2020 7.51% = 5.59% × 1.35
Sep 3, 2020 6.89% = 5.01% × 1.38
May 28, 2020 5.98% = 4.35% × 1.38
Feb 27, 2020 6.20% = 4.63% × 1.34
Nov 28, 2019 9.62% = 7.07% × 1.36
Aug 29, 2019 17.59% = 12.91% × 1.36
May 30, 2019 — = — × 1.31
Feb 28, 2019 — = — × 1.37
Nov 29, 2018 — = — × 1.32

Based on: 10-K (reporting date: 2024-08-29), 10-Q (reporting date: 2024-05-30), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-06-01), 10-Q (reporting date: 2023-03-02), 10-Q (reporting date: 2022-12-01), 10-K (reporting date: 2022-09-01), 10-Q (reporting date: 2022-06-02), 10-Q (reporting date: 2022-03-03), 10-Q (reporting date: 2021-12-02), 10-K (reporting date: 2021-09-02), 10-Q (reporting date: 2021-06-03), 10-Q (reporting date: 2021-03-04), 10-Q (reporting date: 2020-12-03), 10-K (reporting date: 2020-09-03), 10-Q (reporting date: 2020-05-28), 10-Q (reporting date: 2020-02-27), 10-Q (reporting date: 2019-11-28), 10-K (reporting date: 2019-08-29), 10-Q (reporting date: 2019-05-30), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-29).

Three-Component Disaggregation of ROE

Micron Technology Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Aug 29, 2024 1.72% = 3.10% × 0.36 × 1.54
May 30, 2024 -3.48% = -7.20% × 0.32 × 1.50
Feb 29, 2024 -8.59% = -20.57% × 0.28 × 1.50
Nov 30, 2023 -16.02% = -42.47% × 0.25 × 1.49
Aug 31, 2023 -13.22% = -37.54% × 0.24 × 1.46
Jun 1, 2023 -6.41% = -16.02% × 0.28 × 1.45
Mar 2, 2023 3.41% = 6.99% × 0.35 × 1.41
Dec 1, 2022 12.55% = 22.78% × 0.40 × 1.38
Sep 1, 2022 17.41% = 28.24% × 0.46 × 1.33
Jun 2, 2022 20.12% = 30.61% × 0.50 × 1.32
Mar 3, 2022 18.86% = 28.95% × 0.49 × 1.33
Dec 2, 2021 16.04% = 24.86% × 0.48 × 1.33
Sep 2, 2021 13.34% = 21.16% × 0.47 × 1.34
Jun 3, 2021 9.77% = 16.20% × 0.46 × 1.32
Mar 4, 2021 7.86% = 13.60% × 0.43 × 1.33
Dec 3, 2020 7.51% = 13.59% × 0.41 × 1.35
Sep 3, 2020 6.89% = 12.54% × 0.40 × 1.38
May 28, 2020 5.98% = 11.16% × 0.39 × 1.38
Feb 27, 2020 6.20% = 11.72% × 0.39 × 1.34
Nov 28, 2019 9.62% = 17.01% × 0.42 × 1.36
Aug 29, 2019 17.59% = 26.97% × 0.48 × 1.36
May 30, 2019 — = — × — × 1.31
Feb 28, 2019 — = — × — × 1.37
Nov 29, 2018 — = — × — × 1.32

Based on: 10-K (reporting date: 2024-08-29), 10-Q (reporting date: 2024-05-30), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-06-01), 10-Q (reporting date: 2023-03-02), 10-Q (reporting date: 2022-12-01), 10-K (reporting date: 2022-09-01), 10-Q (reporting date: 2022-06-02), 10-Q (reporting date: 2022-03-03), 10-Q (reporting date: 2021-12-02), 10-K (reporting date: 2021-09-02), 10-Q (reporting date: 2021-06-03), 10-Q (reporting date: 2021-03-04), 10-Q (reporting date: 2020-12-03), 10-K (reporting date: 2020-09-03), 10-Q (reporting date: 2020-05-28), 10-Q (reporting date: 2020-02-27), 10-Q (reporting date: 2019-11-28), 10-K (reporting date: 2019-08-29), 10-Q (reporting date: 2019-05-30), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-29).

Five-Component Disaggregation of ROE

Micron Technology Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Financial Leverage
Aug 29, 2024 1.72% = 0.63 × 0.69 × 7.13% × 0.36 × 1.54
May 30, 2024 -3.48% = — × — × -5.52% × 0.32 × 1.50
Feb 29, 2024 -8.59% = — × — × -20.08% × 0.28 × 1.50
Nov 30, 2023 -16.02% = — × — × -38.08% × 0.25 × 1.49
Aug 31, 2023 -13.22% = — × — × -33.90% × 0.24 × 1.46
Jun 1, 2023 -6.41% = — × — × -12.93% × 0.28 × 1.45
Mar 2, 2023 3.41% = 0.77 × 0.90 × 10.04% × 0.35 × 1.41
Dec 1, 2022 12.55% = 0.90 × 0.97 × 25.99% × 0.40 × 1.38
Sep 1, 2022 17.41% = 0.91 × 0.98 × 31.74% × 0.46 × 1.33
Jun 2, 2022 20.12% = 0.90 × 0.98 × 34.48% × 0.50 × 1.32
Mar 3, 2022 18.86% = 0.92 × 0.98 × 32.04% × 0.49 × 1.33
Dec 2, 2021 16.04% = 0.93 × 0.98 × 27.37% × 0.48 × 1.33
Sep 2, 2021 13.34% = 0.94 × 0.97 × 23.24% × 0.47 × 1.34
Jun 3, 2021 9.77% = 0.93 × 0.96 × 18.11% × 0.46 × 1.32
Mar 4, 2021 7.86% = 0.91 × 0.95 × 15.70% × 0.43 × 1.33
Dec 3, 2020 7.51% = 0.92 × 0.94 × 15.73% × 0.41 × 1.35
Sep 3, 2020 6.89% = 0.91 × 0.94 × 14.75% × 0.40 × 1.38
May 28, 2020 5.98% = 0.91 × 0.93 × 13.13% × 0.39 × 1.38
Feb 27, 2020 6.20% = 0.99 × 0.93 × 12.60% × 0.39 × 1.34
Nov 28, 2019 9.62% = 0.93 × 0.96 × 19.01% × 0.42 × 1.36
Aug 29, 2019 17.59% = 0.90 × 0.98 × 30.48% × 0.48 × 1.36
May 30, 2019 — = — × — × — × — × 1.31
Feb 28, 2019 — = — × — × — × — × 1.37
Nov 29, 2018 — = — × — × — × — × 1.32

Based on: 10-K (reporting date: 2024-08-29), 10-Q (reporting date: 2024-05-30), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-06-01), 10-Q (reporting date: 2023-03-02), 10-Q (reporting date: 2022-12-01), 10-K (reporting date: 2022-09-01), 10-Q (reporting date: 2022-06-02), 10-Q (reporting date: 2022-03-03), 10-Q (reporting date: 2021-12-02), 10-K (reporting date: 2021-09-02), 10-Q (reporting date: 2021-06-03), 10-Q (reporting date: 2021-03-04), 10-Q (reporting date: 2020-12-03), 10-K (reporting date: 2020-09-03), 10-Q (reporting date: 2020-05-28), 10-Q (reporting date: 2020-02-27), 10-Q (reporting date: 2019-11-28), 10-K (reporting date: 2019-08-29), 10-Q (reporting date: 2019-05-30), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-29).

Two-Component Disaggregation of ROA

Micron Technology Inc., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Net Profit Margin × Asset Turnover
Aug 29, 2024 1.12% = 3.10% × 0.36
May 30, 2024 -2.32% = -7.20% × 0.32
Feb 29, 2024 -5.73% = -20.57% × 0.28
Nov 30, 2023 -10.78% = -42.47% × 0.25
Aug 31, 2023 -9.08% = -37.54% × 0.24
Jun 1, 2023 -4.43% = -16.02% × 0.28
Mar 2, 2023 2.42% = 6.99% × 0.35
Dec 1, 2022 9.11% = 22.78% × 0.40
Sep 1, 2022 13.11% = 28.24% × 0.46
Jun 2, 2022 15.18% = 30.61% × 0.50
Mar 3, 2022 14.17% = 28.95% × 0.49
Dec 2, 2021 12.02% = 24.86% × 0.48
Sep 2, 2021 9.96% = 21.16% × 0.47
Jun 3, 2021 7.38% = 16.20% × 0.46
Mar 4, 2021 5.91% = 13.60% × 0.43
Dec 3, 2020 5.59% = 13.59% × 0.41
Sep 3, 2020 5.01% = 12.54% × 0.40
May 28, 2020 4.35% = 11.16% × 0.39
Feb 27, 2020 4.63% = 11.72% × 0.39
Nov 28, 2019 7.07% = 17.01% × 0.42
Aug 29, 2019 12.91% = 26.97% × 0.48
May 30, 2019 — = — × —
Feb 28, 2019 — = — × —
Nov 29, 2018 — = — × —

Based on: 10-K (reporting date: 2024-08-29), 10-Q (reporting date: 2024-05-30), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-06-01), 10-Q (reporting date: 2023-03-02), 10-Q (reporting date: 2022-12-01), 10-K (reporting date: 2022-09-01), 10-Q (reporting date: 2022-06-02), 10-Q (reporting date: 2022-03-03), 10-Q (reporting date: 2021-12-02), 10-K (reporting date: 2021-09-02), 10-Q (reporting date: 2021-06-03), 10-Q (reporting date: 2021-03-04), 10-Q (reporting date: 2020-12-03), 10-K (reporting date: 2020-09-03), 10-Q (reporting date: 2020-05-28), 10-Q (reporting date: 2020-02-27), 10-Q (reporting date: 2019-11-28), 10-K (reporting date: 2019-08-29), 10-Q (reporting date: 2019-05-30), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-29).

Four-Component Disaggregation of ROA

Micron Technology Inc., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover
Aug 29, 2024 1.12% = 0.63 × 0.69 × 7.13% × 0.36
May 30, 2024 -2.32% = — × — × -5.52% × 0.32
Feb 29, 2024 -5.73% = — × — × -20.08% × 0.28
Nov 30, 2023 -10.78% = — × — × -38.08% × 0.25
Aug 31, 2023 -9.08% = — × — × -33.90% × 0.24
Jun 1, 2023 -4.43% = — × — × -12.93% × 0.28
Mar 2, 2023 2.42% = 0.77 × 0.90 × 10.04% × 0.35
Dec 1, 2022 9.11% = 0.90 × 0.97 × 25.99% × 0.40
Sep 1, 2022 13.11% = 0.91 × 0.98 × 31.74% × 0.46
Jun 2, 2022 15.18% = 0.90 × 0.98 × 34.48% × 0.50
Mar 3, 2022 14.17% = 0.92 × 0.98 × 32.04% × 0.49
Dec 2, 2021 12.02% = 0.93 × 0.98 × 27.37% × 0.48
Sep 2, 2021 9.96% = 0.94 × 0.97 × 23.24% × 0.47
Jun 3, 2021 7.38% = 0.93 × 0.96 × 18.11% × 0.46
Mar 4, 2021 5.91% = 0.91 × 0.95 × 15.70% × 0.43
Dec 3, 2020 5.59% = 0.92 × 0.94 × 15.73% × 0.41
Sep 3, 2020 5.01% = 0.91 × 0.94 × 14.75% × 0.40
May 28, 2020 4.35% = 0.91 × 0.93 × 13.13% × 0.39
Feb 27, 2020 4.63% = 0.99 × 0.93 × 12.60% × 0.39
Nov 28, 2019 7.07% = 0.93 × 0.96 × 19.01% × 0.42
Aug 29, 2019 12.91% = 0.90 × 0.98 × 30.48% × 0.48
May 30, 2019 — = — × — × — × —
Feb 28, 2019 — = — × — × — × —
Nov 29, 2018 — = — × — × — × —

Based on: 10-K (reporting date: 2024-08-29), 10-Q (reporting date: 2024-05-30), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-06-01), 10-Q (reporting date: 2023-03-02), 10-Q (reporting date: 2022-12-01), 10-K (reporting date: 2022-09-01), 10-Q (reporting date: 2022-06-02), 10-Q (reporting date: 2022-03-03), 10-Q (reporting date: 2021-12-02), 10-K (reporting date: 2021-09-02), 10-Q (reporting date: 2021-06-03), 10-Q (reporting date: 2021-03-04), 10-Q (reporting date: 2020-12-03), 10-K (reporting date: 2020-09-03), 10-Q (reporting date: 2020-05-28), 10-Q (reporting date: 2020-02-27), 10-Q (reporting date: 2019-11-28), 10-K (reporting date: 2019-08-29), 10-Q (reporting date: 2019-05-30), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-29).

Disaggregation of Net Profit Margin

Micron Technology Inc., decomposition of net profit margin ratio (quarterly data)

Microsoft Excel
Net Profit Margin = Tax Burden × Interest Burden × EBIT Margin
Aug 29, 2024 3.10% = 0.63 × 0.69 × 7.13%
May 30, 2024 -7.20% = — × — × -5.52%
Feb 29, 2024 -20.57% = — × — × -20.08%
Nov 30, 2023 -42.47% = — × — × -38.08%
Aug 31, 2023 -37.54% = — × — × -33.90%
Jun 1, 2023 -16.02% = — × — × -12.93%
Mar 2, 2023 6.99% = 0.77 × 0.90 × 10.04%
Dec 1, 2022 22.78% = 0.90 × 0.97 × 25.99%
Sep 1, 2022 28.24% = 0.91 × 0.98 × 31.74%
Jun 2, 2022 30.61% = 0.90 × 0.98 × 34.48%
Mar 3, 2022 28.95% = 0.92 × 0.98 × 32.04%
Dec 2, 2021 24.86% = 0.93 × 0.98 × 27.37%
Sep 2, 2021 21.16% = 0.94 × 0.97 × 23.24%
Jun 3, 2021 16.20% = 0.93 × 0.96 × 18.11%
Mar 4, 2021 13.60% = 0.91 × 0.95 × 15.70%
Dec 3, 2020 13.59% = 0.92 × 0.94 × 15.73%
Sep 3, 2020 12.54% = 0.91 × 0.94 × 14.75%
May 28, 2020 11.16% = 0.91 × 0.93 × 13.13%
Feb 27, 2020 11.72% = 0.99 × 0.93 × 12.60%
Nov 28, 2019 17.01% = 0.93 × 0.96 × 19.01%
Aug 29, 2019 26.97% = 0.90 × 0.98 × 30.48%
May 30, 2019 — = — × — × —
Feb 28, 2019 — = — × — × —
Nov 29, 2018 — = — × — × —

Based on: 10-K (reporting date: 2024-08-29), 10-Q (reporting date: 2024-05-30), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-06-01), 10-Q (reporting date: 2023-03-02), 10-Q (reporting date: 2022-12-01), 10-K (reporting date: 2022-09-01), 10-Q (reporting date: 2022-06-02), 10-Q (reporting date: 2022-03-03), 10-Q (reporting date: 2021-12-02), 10-K (reporting date: 2021-09-02), 10-Q (reporting date: 2021-06-03), 10-Q (reporting date: 2021-03-04), 10-Q (reporting date: 2020-12-03), 10-K (reporting date: 2020-09-03), 10-Q (reporting date: 2020-05-28), 10-Q (reporting date: 2020-02-27), 10-Q (reporting date: 2019-11-28), 10-K (reporting date: 2019-08-29), 10-Q (reporting date: 2019-05-30), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-29).