Micron Technology (MU) FY2015 results: revenue $16.2 billion, down 1.0% on the year
Micron Technology Inc. (MU) reported revenue of $16.2 billion for fiscal 2015, the year ended 3 September 2015, down 1.0% on the year before. Net income was $2.9 billion, down 4.8%, and diluted earnings per share $2.47. The figures are the company's own, from the 10-K it filed with the SEC on 27 October 2015.
Revenue
$16.2 billion
-1.0% on the year
FY2009FY2015
Operating margin
18.5%
18.9% a year earlier
FY2009FY2015
Net income
$2.9 billion
-4.8% on the year
FY2009FY2015
Diluted EPS
$2.47
-2.8% on the year
FY2009FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
16,192
16,358
9,073
-1.0%
Cost of revenue
10,977
10,921
7,226
+0.5%
Gross profit
5,215
5,437
1,847
-4.1%
Gross margin
32.2%
33.2%
20.4%
Research and development
1,540
1,371
931
+12.3%
Selling, general and administrative
719
707
562
+1.7%
Operating income
2,998
3,087
236
-2.9%
Operating margin
18.5%
18.9%
2.6%
Interest expense
371
352
231
+5.4%
Pre-tax income
2,609
2,733
1,285
-4.5%
Income tax
157
128
8.0
+22.7%
Effective tax rate
6.0%
4.7%
0.6%
Net income
2,899
3,045
1,190
-4.8%
Net margin
17.9%
18.6%
13.1%
Diluted EPS
$2.47
$2.54
$1.13
-2.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
5,208
5,699
1,811
-8.6%
Capital expenditure
4,021
3,107
1,442
+29.4%
Free cash flow
1,187
2,592
369
-54.2%
Free cash flow margin
7.3%
15.8%
4.1%
Cash from investing
-6,216
n/a
n/a
Cash from financing
-718
n/a
n/a
Depreciation and amortisation
2,805
2,270
1,926
+23.6%
Share-based compensation
168
115
91.0
+46.1%
Buybacks
884
76.0
5.0
+1,063.2%
Diluted shares, weighted
1,170m
1,198m
1,056m
-2.3%
Shares outstanding at period end
1,084m
1,073m
1,044m
+1.0%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
12,302
10,771
9,142
+14.2%
Non-controlling interest
937
802
864
+16.8%
Redeemable equity
49.0
n/a
n/a
Debt
7,341
6,511
6,037
+12.7%
Other liabilities
3,514
4,332
3,075
-18.9%
Total liabilities and equity
24,143
22,416
19,118
+7.7%
Fixed assets
10,554
8,682
7,626
+21.6%
Intangible assets
449
468
386
-4.1%
Investments
3,347
1,203
720
+178.2%
Cash and equivalents
2,287
4,150
2,880
-44.9%
Receivables
2,188
2,524
2,069
-13.3%
Inventory
2,340
2,455
2,649
-4.7%
Other assets
2,978
2,934
2,788
+1.5%
Total assets
24,143
22,416
19,118
+7.7%
10-K for the year ended 3 September 2015, filed 27 October 2015: the filing.