Micron Technology (MU) FY2017 results: revenue $20.3 billion, up 63.9% on the year
Micron Technology Inc. (MU) reported revenue of $20.3 billion for fiscal 2017, the year ended 31 August 2017, up 63.9% on the year before. Net income was $5.1 billion, and diluted earnings per share $4.41. The figures are the company's own, from the 10-K it filed with the SEC on 17 October 2019.
Revenue
$20.3 billion
+63.9% on the year
FY2010FY2017
Operating margin
28.9%
1.4% a year earlier
FY2010FY2017
Net income
$5.1 billion
FY2010FY2017
Diluted EPS
$4.41
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
20,322
12,399
16,192
+63.9%
Cost of revenue
11,886
9,894
10,977
+20.1%
Gross profit
8,436
2,505
5,215
+236.8%
Gross margin
41.5%
20.2%
32.2%
Research and development
1,824
1,617
1,540
+12.8%
Selling, general and administrative
743
659
719
+12.7%
Operating income
5,868
168
2,998
+3,392.9%
Operating margin
28.9%
1.4%
18.5%
Interest expense
601
437
371
+37.5%
Pre-tax income
5,196
-281
2,609
Income tax
114
19.0
157
+500.0%
Effective tax rate
2.2%
n/a
6.0%
Net income
5,089
-276
2,899
Net margin
25.0%
-2.2%
17.9%
Diluted EPS
$4.41
-$0.27
$2.47
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
8,153
3,168
5,208
+157.4%
Capital expenditure
4,734
5,817
4,021
-18.6%
Free cash flow
3,419
-2,649
1,187
Free cash flow margin
16.8%
-21.4%
7.3%
Cash from investing
-7,537
-3,044
-6,216
Cash from financing
349
1,745
-718
-80.0%
Depreciation and amortisation
3,861
2,980
2,805
+29.6%
Share-based compensation
215
191
168
+12.6%
Buybacks
36.0
148
884
-75.7%
Diluted shares, weighted
1,154m
1,036m
1,170m
+11.4%
Shares outstanding at period end
1,112m
1,094m
1,084m
+1.6%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
18,621
12,080
12,302
+54.1%
Non-controlling interest
849
848
937
+0.1%
Redeemable equity
21.0
0.0
49.0
Debt
11,134
9,910
7,341
+12.4%
Other liabilities
4,711
4,702
3,514
+0.2%
Total liabilities and equity
35,336
27,540
24,143
+28.3%
Fixed assets
19,431
14,686
10,554
+32.3%
Goodwill
1,228
104
n/a
+1,080.8%
Intangible assets
387
464
449
-16.6%
Investments
936
672
3,347
+39.3%
Cash and equivalents
5,109
4,140
2,287
+23.4%
Receivables
3,490
1,765
2,188
+97.7%
Inventory
3,123
2,889
2,340
+8.1%
Other assets
1,632
2,820
2,978
-42.1%
Total assets
35,336
27,540
24,143
+28.3%
10-K for the year ended 31 August 2017, filed 17 October 2019: the filing.