Micron Technology (MU) FY2023 results: revenue $15.5 billion, down 49.5% on the year
Micron Technology Inc. (MU) reported revenue of $15.5 billion for fiscal 2023, the year ended 31 August 2023, down 49.5% on the year before. Net income was -$5.8 billion, and diluted earnings per share $-5.34. The figures are the company's own, from the 10-K it filed with the SEC on 6 October 2023.
Revenue
$15.5 billion
-49.5% on the year
FY2016FY2023
Operating margin
-37.0%
31.5% a year earlier
FY2016FY2023
Net income
-$5.8 billion
FY2016FY2023
Diluted EPS
-$5.34
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,559
15,181
12,468
-89.7%
Capital expenditure
7,676
12,067
10,030
-36.4%
Free cash flow
-6,117
3,114
2,438
Free cash flow margin
-39.4%
10.1%
8.8%
Cash from investing
-6,191
-11,585
-10,589
Cash from financing
4,983
-2,980
-1,781
Depreciation and amortisation
7,756
7,116
6,214
+9.0%
Share-based compensation
596
514
378
+16.0%
Buybacks
425
2,432
1,200
-82.5%
Dividends paid
504
461
0.0
+9.3%
Dividend per share
$0.46
$0.32
$0.10
+46.0%
Diluted shares, weighted
1,093m
1,122m
1,141m
-2.6%
Shares outstanding at period end
1,098m
1,094m
1,119m
+0.4%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
44,120
49,907
43,933
-11.6%
Debt
13,330
6,906
6,776
+93.0%
Operating lease liabilities
603
610
504
-1.1%
Finance lease liabilities
1,109
783
649
+41.6%
Other liabilities
5,092
8,077
6,987
-37.0%
Total liabilities and equity
64,254
66,283
58,849
-3.1%
Goodwill
1,150
1,228
1,228
-6.4%
Intangible assets
404
421
349
-4.0%
Investments
1,861
2,716
2,635
-31.5%
Cash and equivalents
8,577
8,262
7,763
+3.8%
Receivables
2,048
4,765
4,920
-57.0%
Inventory
8,387
6,663
4,487
+25.9%
Other assets
41,827
42,228
37,467
-0.9%
Total assets
64,254
66,283
58,849
-3.1%
10-K for the year ended 31 August 2023, filed 6 October 2023: the filing.