Analysis of Solvency Ratios
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Micron Technology Inc., solvency ratios
Based on: 10-K (reporting date: 2024-08-29), 10-K (reporting date: 2023-08-31), 10-K (reporting date: 2022-09-01), 10-K (reporting date: 2021-09-02), 10-K (reporting date: 2020-09-03), 10-K (reporting date: 2019-08-29).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Micron Technology Inc. debt to equity ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Micron Technology Inc. debt to equity ratio (including operating lease liability) deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Micron Technology Inc. debt to capital ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Micron Technology Inc. debt to capital ratio (including operating lease liability) deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Micron Technology Inc. debt to assets ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Micron Technology Inc. debt to assets ratio (including operating lease liability) deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Micron Technology Inc. financial leverage ratio increased from 2022 to 2023 and from 2023 to 2024. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Micron Technology Inc. interest coverage ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Micron Technology Inc. fixed charge coverage ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Debt to Equity
Micron Technology Inc., debt to equity calculation, comparison to benchmarks
| Aug 29, 2024 | Aug 31, 2023 | Sep 1, 2022 | Sep 2, 2021 | Sep 3, 2020 | Aug 29, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current debt | 431) | 278) | 103) | 155) | 270) | 1,310) | |
| Long-term debt | 12,966) | 13,052) | 6,803) | 6,621) | 6,373) | 4,541) | |
| Total debt | 13,397) | 13,330) | 6,906) | 6,776) | 6,643) | 5,851) | |
| Total Micron shareholders’ equity | 45,131) | 44,120) | 49,907) | 43,933) | 38,996) | 35,881) | |
| Solvency Ratio | |||||||
| Debt to equity1 | 0.30 | 0.30 | 0.14 | 0.15 | 0.17 | 0.16 | |
| Benchmarks | |||||||
| Debt to Equity, Competitors2 | |||||||
| Advanced Micro Devices Inc. | — | 0.04 | 0.05 | 0.04 | 0.06 | 0.17 | |
| Analog Devices Inc. | 0.22 | 0.20 | 0.18 | 0.18 | 0.43 | 0.47 | |
| Applied Materials Inc. | 0.33 | 0.35 | 0.45 | 0.45 | 0.52 | 0.65 | |
| Broadcom Inc. | — | 1.64 | 1.74 | 1.59 | 1.72 | 1.32 | |
| First Solar Inc. | — | 0.09 | 0.03 | 0.04 | 0.05 | 0.09 | |
| Intel Corp. | — | 0.47 | 0.41 | 0.40 | 0.45 | 0.37 | |
| KLA Corp. | 1.97 | 2.02 | 4.75 | 1.02 | 1.30 | 1.29 | |
| Lam Research Corp. | 0.58 | 0.61 | 0.80 | 0.83 | 1.12 | 0.96 | |
| Monolithic Power Systems Inc. | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| NVIDIA Corp. | 0.23 | 0.50 | 0.41 | 0.41 | 0.16 | 0.21 | |
| Qualcomm Inc. | 0.56 | 0.71 | 0.86 | 1.58 | 2.59 | 3.25 | |
| Texas Instruments Inc. | — | 0.66 | 0.60 | 0.58 | 0.74 | 0.65 | |
| Debt to Equity, Sector | |||||||
| Semiconductors & Semiconductor Equipment | — | 0.46 | 0.43 | 0.49 | 0.60 | 0.56 | |
| Debt to Equity, Industry | |||||||
| Information Technology | — | 0.62 | 0.66 | 0.76 | 0.87 | 0.87 | |
Based on: 10-K (reporting date: 2024-08-29), 10-K (reporting date: 2023-08-31), 10-K (reporting date: 2022-09-01), 10-K (reporting date: 2021-09-02), 10-K (reporting date: 2020-09-03), 10-K (reporting date: 2019-08-29).
1 2024 Calculation
Debt to equity = Total debt ÷ Total Micron shareholders’ equity
= 13,397 ÷ 45,131 = 0.30
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Micron Technology Inc. debt to equity ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Debt to Equity (including Operating Lease Liability)
Micron Technology Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| Aug 29, 2024 | Aug 31, 2023 | Sep 1, 2022 | Sep 2, 2021 | Sep 3, 2020 | Aug 29, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current debt | 431) | 278) | 103) | 155) | 270) | 1,310) | |
| Long-term debt | 12,966) | 13,052) | 6,803) | 6,621) | 6,373) | 4,541) | |
| Total debt | 13,397) | 13,330) | 6,906) | 6,776) | 6,643) | 5,851) | |
| Current operating lease liabilities (included in Accounts payable and accrued expenses) | 71) | 66) | 60) | 55) | 54) | —) | |
| Noncurrent operating lease liabilities | 610) | 603) | 610) | 504) | 533) | —) | |
| Total debt (including operating lease liability) | 14,078) | 13,999) | 7,576) | 7,335) | 7,230) | 5,851) | |
| Total Micron shareholders’ equity | 45,131) | 44,120) | 49,907) | 43,933) | 38,996) | 35,881) | |
| Solvency Ratio | |||||||
| Debt to equity (including operating lease liability)1 | 0.31 | 0.32 | 0.15 | 0.17 | 0.19 | 0.16 | |
| Benchmarks | |||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | |||||||
| Advanced Micro Devices Inc. | — | 0.06 | 0.05 | 0.10 | 0.10 | 0.26 | |
| Analog Devices Inc. | 0.23 | 0.21 | 0.19 | 0.19 | 0.46 | 0.47 | |
| Applied Materials Inc. | 0.35 | 0.37 | 0.48 | 0.47 | 0.54 | 0.65 | |
| Broadcom Inc. | — | 1.65 | 1.76 | 1.61 | 1.75 | 1.32 | |
| First Solar Inc. | — | 0.09 | 0.04 | 0.07 | 0.09 | 0.12 | |
| Intel Corp. | — | 0.47 | 0.42 | 0.40 | 0.46 | 0.38 | |
| KLA Corp. | 2.02 | 2.08 | 4.83 | 1.05 | 1.34 | 1.29 | |
| Lam Research Corp. | 0.62 | 0.64 | 0.83 | 0.86 | 1.16 | 0.96 | |
| Monolithic Power Systems Inc. | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| NVIDIA Corp. | 0.26 | 0.54 | 0.44 | 0.46 | 0.22 | 0.21 | |
| Qualcomm Inc. | 0.59 | 0.74 | 0.90 | 1.64 | 2.67 | 3.25 | |
| Texas Instruments Inc. | — | 0.70 | 0.63 | 0.62 | 0.77 | 0.69 | |
| Debt to Equity (including Operating Lease Liability), Sector | |||||||
| Semiconductors & Semiconductor Equipment | — | 0.47 | 0.44 | 0.51 | 0.62 | 0.57 | |
| Debt to Equity (including Operating Lease Liability), Industry | |||||||
| Information Technology | — | 0.68 | 0.73 | 0.83 | 0.94 | 0.89 | |
Based on: 10-K (reporting date: 2024-08-29), 10-K (reporting date: 2023-08-31), 10-K (reporting date: 2022-09-01), 10-K (reporting date: 2021-09-02), 10-K (reporting date: 2020-09-03), 10-K (reporting date: 2019-08-29).
1 2024 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Micron shareholders’ equity
= 14,078 ÷ 45,131 = 0.31
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Micron Technology Inc. debt to equity ratio (including operating lease liability) deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Debt to Capital
Micron Technology Inc., debt to capital calculation, comparison to benchmarks
| Aug 29, 2024 | Aug 31, 2023 | Sep 1, 2022 | Sep 2, 2021 | Sep 3, 2020 | Aug 29, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current debt | 431) | 278) | 103) | 155) | 270) | 1,310) | |
| Long-term debt | 12,966) | 13,052) | 6,803) | 6,621) | 6,373) | 4,541) | |
| Total debt | 13,397) | 13,330) | 6,906) | 6,776) | 6,643) | 5,851) | |
| Total Micron shareholders’ equity | 45,131) | 44,120) | 49,907) | 43,933) | 38,996) | 35,881) | |
| Total capital | 58,528) | 57,450) | 56,813) | 50,709) | 45,639) | 41,732) | |
| Solvency Ratio | |||||||
| Debt to capital1 | 0.23 | 0.23 | 0.12 | 0.13 | 0.15 | 0.14 | |
| Benchmarks | |||||||
| Debt to Capital, Competitors2 | |||||||
| Advanced Micro Devices Inc. | — | 0.04 | 0.04 | 0.04 | 0.05 | 0.15 | |
| Analog Devices Inc. | 0.18 | 0.16 | 0.15 | 0.15 | 0.30 | 0.32 | |
| Applied Materials Inc. | 0.25 | 0.26 | 0.31 | 0.31 | 0.34 | 0.39 | |
| Broadcom Inc. | — | 0.62 | 0.64 | 0.61 | 0.63 | 0.57 | |
| First Solar Inc. | — | 0.08 | 0.03 | 0.04 | 0.05 | 0.08 | |
| Intel Corp. | — | 0.32 | 0.29 | 0.29 | 0.31 | 0.27 | |
| KLA Corp. | 0.66 | 0.67 | 0.83 | 0.50 | 0.57 | 0.56 | |
| Lam Research Corp. | 0.37 | 0.38 | 0.44 | 0.45 | 0.53 | 0.49 | |
| Monolithic Power Systems Inc. | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| NVIDIA Corp. | 0.18 | 0.33 | 0.29 | 0.29 | 0.14 | 0.18 | |
| Qualcomm Inc. | 0.36 | 0.42 | 0.46 | 0.61 | 0.72 | 0.76 | |
| Texas Instruments Inc. | — | 0.40 | 0.37 | 0.37 | 0.43 | 0.39 | |
| Debt to Capital, Sector | |||||||
| Semiconductors & Semiconductor Equipment | — | 0.31 | 0.30 | 0.33 | 0.38 | 0.36 | |
| Debt to Capital, Industry | |||||||
| Information Technology | — | 0.38 | 0.40 | 0.43 | 0.46 | 0.46 | |
Based on: 10-K (reporting date: 2024-08-29), 10-K (reporting date: 2023-08-31), 10-K (reporting date: 2022-09-01), 10-K (reporting date: 2021-09-02), 10-K (reporting date: 2020-09-03), 10-K (reporting date: 2019-08-29).
1 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 13,397 ÷ 58,528 = 0.23
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Micron Technology Inc. debt to capital ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Debt to Capital (including Operating Lease Liability)
Micron Technology Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| Aug 29, 2024 | Aug 31, 2023 | Sep 1, 2022 | Sep 2, 2021 | Sep 3, 2020 | Aug 29, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current debt | 431) | 278) | 103) | 155) | 270) | 1,310) | |
| Long-term debt | 12,966) | 13,052) | 6,803) | 6,621) | 6,373) | 4,541) | |
| Total debt | 13,397) | 13,330) | 6,906) | 6,776) | 6,643) | 5,851) | |
| Current operating lease liabilities (included in Accounts payable and accrued expenses) | 71) | 66) | 60) | 55) | 54) | —) | |
| Noncurrent operating lease liabilities | 610) | 603) | 610) | 504) | 533) | —) | |
| Total debt (including operating lease liability) | 14,078) | 13,999) | 7,576) | 7,335) | 7,230) | 5,851) | |
| Total Micron shareholders’ equity | 45,131) | 44,120) | 49,907) | 43,933) | 38,996) | 35,881) | |
| Total capital (including operating lease liability) | 59,209) | 58,119) | 57,483) | 51,268) | 46,226) | 41,732) | |
| Solvency Ratio | |||||||
| Debt to capital (including operating lease liability)1 | 0.24 | 0.24 | 0.13 | 0.14 | 0.16 | 0.14 | |
| Benchmarks | |||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | |||||||
| Advanced Micro Devices Inc. | — | 0.05 | 0.05 | 0.09 | 0.09 | 0.20 | |
| Analog Devices Inc. | 0.18 | 0.17 | 0.16 | 0.16 | 0.31 | 0.32 | |
| Applied Materials Inc. | 0.26 | 0.27 | 0.32 | 0.32 | 0.35 | 0.39 | |
| Broadcom Inc. | — | 0.62 | 0.64 | 0.62 | 0.64 | 0.57 | |
| First Solar Inc. | — | 0.09 | 0.04 | 0.06 | 0.08 | 0.10 | |
| Intel Corp. | — | 0.32 | 0.30 | 0.29 | 0.31 | 0.28 | |
| KLA Corp. | 0.67 | 0.67 | 0.83 | 0.51 | 0.57 | 0.56 | |
| Lam Research Corp. | 0.38 | 0.39 | 0.45 | 0.46 | 0.54 | 0.49 | |
| Monolithic Power Systems Inc. | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| NVIDIA Corp. | 0.20 | 0.35 | 0.31 | 0.31 | 0.18 | 0.18 | |
| Qualcomm Inc. | 0.37 | 0.43 | 0.47 | 0.62 | 0.73 | 0.76 | |
| Texas Instruments Inc. | — | 0.41 | 0.39 | 0.38 | 0.44 | 0.41 | |
| Debt to Capital (including Operating Lease Liability), Sector | |||||||
| Semiconductors & Semiconductor Equipment | — | 0.32 | 0.31 | 0.34 | 0.38 | 0.36 | |
| Debt to Capital (including Operating Lease Liability), Industry | |||||||
| Information Technology | — | 0.40 | 0.42 | 0.45 | 0.48 | 0.47 | |
Based on: 10-K (reporting date: 2024-08-29), 10-K (reporting date: 2023-08-31), 10-K (reporting date: 2022-09-01), 10-K (reporting date: 2021-09-02), 10-K (reporting date: 2020-09-03), 10-K (reporting date: 2019-08-29).
1 2024 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 14,078 ÷ 59,209 = 0.24
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Micron Technology Inc. debt to capital ratio (including operating lease liability) deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Debt to Assets
Micron Technology Inc., debt to assets calculation, comparison to benchmarks
| Aug 29, 2024 | Aug 31, 2023 | Sep 1, 2022 | Sep 2, 2021 | Sep 3, 2020 | Aug 29, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current debt | 431) | 278) | 103) | 155) | 270) | 1,310) | |
| Long-term debt | 12,966) | 13,052) | 6,803) | 6,621) | 6,373) | 4,541) | |
| Total debt | 13,397) | 13,330) | 6,906) | 6,776) | 6,643) | 5,851) | |
| Total assets | 69,416) | 64,254) | 66,283) | 58,849) | 53,678) | 48,887) | |
| Solvency Ratio | |||||||
| Debt to assets1 | 0.19 | 0.21 | 0.10 | 0.12 | 0.12 | 0.12 | |
| Benchmarks | |||||||
| Debt to Assets, Competitors2 | |||||||
| Advanced Micro Devices Inc. | — | 0.04 | 0.04 | 0.03 | 0.04 | 0.08 | |
| Analog Devices Inc. | 0.16 | 0.14 | 0.13 | 0.13 | 0.24 | 0.26 | |
| Applied Materials Inc. | 0.18 | 0.18 | 0.20 | 0.21 | 0.24 | 0.28 | |
| Broadcom Inc. | — | 0.54 | 0.54 | 0.53 | 0.54 | 0.49 | |
| First Solar Inc. | — | 0.06 | 0.02 | 0.03 | 0.04 | 0.06 | |
| Intel Corp. | — | 0.26 | 0.23 | 0.23 | 0.24 | 0.21 | |
| KLA Corp. | 0.43 | 0.42 | 0.53 | 0.34 | 0.37 | 0.38 | |
| Lam Research Corp. | 0.27 | 0.27 | 0.29 | 0.31 | 0.40 | 0.37 | |
| Monolithic Power Systems Inc. | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| NVIDIA Corp. | 0.15 | 0.27 | 0.25 | 0.24 | 0.11 | 0.15 | |
| Qualcomm Inc. | 0.27 | 0.30 | 0.32 | 0.38 | 0.44 | 0.48 | |
| Texas Instruments Inc. | — | 0.35 | 0.32 | 0.31 | 0.35 | 0.32 | |
| Debt to Assets, Sector | |||||||
| Semiconductors & Semiconductor Equipment | — | 0.26 | 0.24 | 0.26 | 0.29 | 0.28 | |
| Debt to Assets, Industry | |||||||
| Information Technology | — | 0.25 | 0.26 | 0.28 | 0.30 | 0.30 | |
Based on: 10-K (reporting date: 2024-08-29), 10-K (reporting date: 2023-08-31), 10-K (reporting date: 2022-09-01), 10-K (reporting date: 2021-09-02), 10-K (reporting date: 2020-09-03), 10-K (reporting date: 2019-08-29).
1 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= 13,397 ÷ 69,416 = 0.19
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Micron Technology Inc. debt to assets ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Debt to Assets (including Operating Lease Liability)
Micron Technology Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| Aug 29, 2024 | Aug 31, 2023 | Sep 1, 2022 | Sep 2, 2021 | Sep 3, 2020 | Aug 29, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current debt | 431) | 278) | 103) | 155) | 270) | 1,310) | |
| Long-term debt | 12,966) | 13,052) | 6,803) | 6,621) | 6,373) | 4,541) | |
| Total debt | 13,397) | 13,330) | 6,906) | 6,776) | 6,643) | 5,851) | |
| Current operating lease liabilities (included in Accounts payable and accrued expenses) | 71) | 66) | 60) | 55) | 54) | —) | |
| Noncurrent operating lease liabilities | 610) | 603) | 610) | 504) | 533) | —) | |
| Total debt (including operating lease liability) | 14,078) | 13,999) | 7,576) | 7,335) | 7,230) | 5,851) | |
| Total assets | 69,416) | 64,254) | 66,283) | 58,849) | 53,678) | 48,887) | |
| Solvency Ratio | |||||||
| Debt to assets (including operating lease liability)1 | 0.20 | 0.22 | 0.11 | 0.12 | 0.13 | 0.12 | |
| Benchmarks | |||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | |||||||
| Advanced Micro Devices Inc. | — | 0.05 | 0.04 | 0.06 | 0.06 | 0.12 | |
| Analog Devices Inc. | 0.17 | 0.15 | 0.14 | 0.14 | 0.25 | 0.26 | |
| Applied Materials Inc. | 0.19 | 0.20 | 0.22 | 0.22 | 0.26 | 0.28 | |
| Broadcom Inc. | — | 0.54 | 0.55 | 0.53 | 0.55 | 0.49 | |
| First Solar Inc. | — | 0.06 | 0.03 | 0.05 | 0.07 | 0.08 | |
| Intel Corp. | — | 0.26 | 0.23 | 0.23 | 0.24 | 0.22 | |
| KLA Corp. | 0.44 | 0.43 | 0.54 | 0.35 | 0.38 | 0.38 | |
| Lam Research Corp. | 0.28 | 0.28 | 0.30 | 0.33 | 0.41 | 0.37 | |
| Monolithic Power Systems Inc. | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| NVIDIA Corp. | 0.17 | 0.29 | 0.27 | 0.27 | 0.15 | 0.15 | |
| Qualcomm Inc. | 0.28 | 0.31 | 0.33 | 0.40 | 0.46 | 0.48 | |
| Texas Instruments Inc. | — | 0.36 | 0.34 | 0.33 | 0.37 | 0.34 | |
| Debt to Assets (including Operating Lease Liability), Sector | |||||||
| Semiconductors & Semiconductor Equipment | — | 0.27 | 0.25 | 0.27 | 0.30 | 0.29 | |
| Debt to Assets (including Operating Lease Liability), Industry | |||||||
| Information Technology | — | 0.28 | 0.29 | 0.31 | 0.32 | 0.31 | |
Based on: 10-K (reporting date: 2024-08-29), 10-K (reporting date: 2023-08-31), 10-K (reporting date: 2022-09-01), 10-K (reporting date: 2021-09-02), 10-K (reporting date: 2020-09-03), 10-K (reporting date: 2019-08-29).
1 2024 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 14,078 ÷ 69,416 = 0.20
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Micron Technology Inc. debt to assets ratio (including operating lease liability) deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Financial Leverage
Micron Technology Inc., financial leverage calculation, comparison to benchmarks
| Aug 29, 2024 | Aug 31, 2023 | Sep 1, 2022 | Sep 2, 2021 | Sep 3, 2020 | Aug 29, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Total assets | 69,416) | 64,254) | 66,283) | 58,849) | 53,678) | 48,887) | |
| Total Micron shareholders’ equity | 45,131) | 44,120) | 49,907) | 43,933) | 38,996) | 35,881) | |
| Solvency Ratio | |||||||
| Financial leverage1 | 1.54 | 1.46 | 1.33 | 1.34 | 1.38 | 1.36 | |
| Benchmarks | |||||||
| Financial Leverage, Competitors2 | |||||||
| Advanced Micro Devices Inc. | — | 1.21 | 1.23 | 1.66 | 1.54 | 2.13 | |
| Analog Devices Inc. | 1.37 | 1.37 | 1.38 | 1.38 | 1.79 | 1.83 | |
| Applied Materials Inc. | 1.81 | 1.88 | 2.19 | 2.11 | 2.11 | 2.32 | |
| Broadcom Inc. | — | 3.04 | 3.23 | 3.03 | 3.18 | 2.71 | |
| First Solar Inc. | — | 1.55 | 1.41 | 1.24 | 1.29 | 1.47 | |
| Intel Corp. | — | 1.81 | 1.80 | 1.77 | 1.89 | 1.76 | |
| KLA Corp. | 4.58 | 4.82 | 8.99 | 3.04 | 3.48 | 3.39 | |
| Lam Research Corp. | 2.20 | 2.29 | 2.74 | 2.64 | 2.81 | 2.57 | |
| Monolithic Power Systems Inc. | — | 1.19 | 1.23 | 1.27 | 1.25 | 1.24 | |
| NVIDIA Corp. | 1.53 | 1.86 | 1.66 | 1.70 | 1.42 | 1.42 | |
| Qualcomm Inc. | 2.10 | 2.37 | 2.72 | 4.14 | 5.86 | 6.71 | |
| Texas Instruments Inc. | — | 1.91 | 1.87 | 1.85 | 2.11 | 2.02 | |
| Financial Leverage, Sector | |||||||
| Semiconductors & Semiconductor Equipment | — | 1.79 | 1.78 | 1.88 | 2.05 | 1.99 | |
| Financial Leverage, Industry | |||||||
| Information Technology | — | 2.43 | 2.55 | 2.71 | 2.89 | 2.86 | |
Based on: 10-K (reporting date: 2024-08-29), 10-K (reporting date: 2023-08-31), 10-K (reporting date: 2022-09-01), 10-K (reporting date: 2021-09-02), 10-K (reporting date: 2020-09-03), 10-K (reporting date: 2019-08-29).
1 2024 Calculation
Financial leverage = Total assets ÷ Total Micron shareholders’ equity
= 69,416 ÷ 45,131 = 1.54
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Micron Technology Inc. financial leverage ratio increased from 2022 to 2023 and from 2023 to 2024. |
Interest Coverage
Micron Technology Inc., interest coverage calculation, comparison to benchmarks
| Aug 29, 2024 | Aug 31, 2023 | Sep 1, 2022 | Sep 2, 2021 | Sep 3, 2020 | Aug 29, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net income (loss) attributable to Micron | 778) | (5,833) | 8,687) | 5,861) | 2,687) | 6,313) | |
| Add: Net income attributable to noncontrolling interest | —) | —) | —) | —) | 23) | 45) | |
| Add: Income tax expense | 451) | 177) | 888) | 394) | 280) | 693) | |
| Add: Interest expense | 562) | 388) | 189) | 183) | 194) | 128) | |
| Earnings before interest and tax (EBIT) | 1,791) | (5,268) | 9,764) | 6,438) | 3,184) | 7,179) | |
| Solvency Ratio | |||||||
| Interest coverage1 | 3.19 | -13.58 | 51.66 | 35.18 | 16.41 | 56.09 | |
| Benchmarks | |||||||
| Interest Coverage, Competitors2 | |||||||
| Advanced Micro Devices Inc. | — | 5.79 | 14.61 | 109.09 | 28.23 | 4.96 | |
| Analog Devices Inc. | 6.52 | 14.63 | 16.46 | 8.19 | 7.79 | 7.49 | |
| Applied Materials Inc. | 34.00 | 33.42 | 34.33 | 29.69 | 18.36 | 14.79 | |
| Broadcom Inc. | — | 10.31 | 8.16 | 4.59 | 2.37 | 2.54 | |
| First Solar Inc. | — | 69.75 | 1.70 | 44.65 | 13.11 | -3.45 | |
| Intel Corp. | — | 1.87 | 16.66 | 37.35 | 40.87 | 50.20 | |
| KLA Corp. | 11.25 | 13.76 | 22.76 | 16.00 | 9.22 | 11.40 | |
| Lam Research Corp. | 24.54 | 28.40 | 29.11 | 21.95 | 15.51 | 21.86 | |
| Monolithic Power Systems Inc. | — | — | — | — | — | — | |
| NVIDIA Corp. | 132.59 | 16.96 | 43.12 | 24.96 | 58.12 | 68.17 | |
| Qualcomm Inc. | 15.83 | 11.72 | 31.61 | 19.38 | 10.50 | 12.93 | |
| Texas Instruments Inc. | — | 22.01 | 47.88 | 49.47 | 32.67 | 34.69 | |
| Interest Coverage, Sector | |||||||
| Semiconductors & Semiconductor Equipment | — | 10.69 | 21.27 | 18.55 | 14.14 | 16.84 | |
| Interest Coverage, Industry | |||||||
| Information Technology | — | 18.90 | 24.65 | 23.03 | 16.75 | 15.86 | |
Based on: 10-K (reporting date: 2024-08-29), 10-K (reporting date: 2023-08-31), 10-K (reporting date: 2022-09-01), 10-K (reporting date: 2021-09-02), 10-K (reporting date: 2020-09-03), 10-K (reporting date: 2019-08-29).
1 2024 Calculation
Interest coverage = EBIT ÷ Interest expense
= 1,791 ÷ 562 = 3.19
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Micron Technology Inc. interest coverage ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Fixed Charge Coverage
Micron Technology Inc., fixed charge coverage calculation, comparison to benchmarks
| Aug 29, 2024 | Aug 31, 2023 | Sep 1, 2022 | Sep 2, 2021 | Sep 3, 2020 | Aug 29, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net income (loss) attributable to Micron | 778) | (5,833) | 8,687) | 5,861) | 2,687) | 6,313) | |
| Add: Net income attributable to noncontrolling interest | —) | —) | —) | —) | 23) | 45) | |
| Add: Income tax expense | 451) | 177) | 888) | 394) | 280) | 693) | |
| Add: Interest expense | 562) | 388) | 189) | 183) | 194) | 128) | |
| Earnings before interest and tax (EBIT) | 1,791) | (5,268) | 9,764) | 6,438) | 3,184) | 7,179) | |
| Add: Operating lease cost | 140) | 137) | 125) | 108) | 102) | 93) | |
| Earnings before fixed charges and tax | 1,931) | (5,131) | 9,889) | 6,546) | 3,286) | 7,272) | |
| Interest expense | 562) | 388) | 189) | 183) | 194) | 128) | |
| Operating lease cost | 140) | 137) | 125) | 108) | 102) | 93) | |
| Fixed charges | 702) | 525) | 314) | 291) | 296) | 221) | |
| Solvency Ratio | |||||||
| Fixed charge coverage1 | 2.75 | -9.77 | 31.49 | 22.49 | 11.10 | 32.90 | |
| Benchmarks | |||||||
| Fixed Charge Coverage, Competitors2 | |||||||
| Advanced Micro Devices Inc. | — | 3.18 | 6.82 | 36.00 | 13.08 | 3.48 | |
| Analog Devices Inc. | 5.55 | 11.89 | 12.87 | 6.64 | 6.48 | 5.62 | |
| Applied Materials Inc. | 34.00 | 23.69 | 24.67 | 22.50 | 14.48 | 12.35 | |
| Broadcom Inc. | — | 9.81 | 6.55 | 3.70 | 1.92 | 2.27 | |
| First Solar Inc. | — | 36.57 | 1.32 | 19.58 | 7.80 | -1.46 | |
| Intel Corp. | — | 1.59 | 7.34 | 16.56 | 25.00 | 36.69 | |
| KLA Corp. | 9.72 | 12.19 | 18.72 | 13.03 | 7.74 | 10.39 | |
| Lam Research Corp. | 17.23 | 20.49 | 21.44 | 17.80 | 12.52 | 17.83 | |
| Monolithic Power Systems Inc. | — | 163.49 | 195.13 | 111.93 | 114.81 | 75.96 | |
| NVIDIA Corp. | 65.29 | 10.19 | 25.61 | 14.40 | 18.89 | 29.23 | |
| Qualcomm Inc. | 12.73 | 9.29 | 22.52 | 14.48 | 8.30 | 10.68 | |
| Texas Instruments Inc. | — | 18.41 | 36.70 | 36.25 | 24.14 | 25.27 | |
| Fixed Charge Coverage, Sector | |||||||
| Semiconductors & Semiconductor Equipment | — | 8.52 | 14.43 | 12.82 | 10.44 | 13.19 | |
| Fixed Charge Coverage, Industry | |||||||
| Information Technology | — | 11.88 | 14.15 | 13.45 | 10.15 | 10.46 | |
Based on: 10-K (reporting date: 2024-08-29), 10-K (reporting date: 2023-08-31), 10-K (reporting date: 2022-09-01), 10-K (reporting date: 2021-09-02), 10-K (reporting date: 2020-09-03), 10-K (reporting date: 2019-08-29).
1 2024 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 1,931 ÷ 702 = 2.75
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Micron Technology Inc. fixed charge coverage ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |