MU FY 2018 Earnings Report — Micron Technology, Inc. Revenue & Financial Results | Market Cap Arena

Micron Technology, Inc.MU

FY 2018 Earnings

Reported October 15, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$30.4B	—	$20.3B	—	49.5%
Op. Income	$15.0B	—	$5.9B	—	155.5%
Gross Margin	58.9%	—	41.5%	—	17.4pp
Net Margin	46.5%	—	25.0%	—	21.5pp
EPS (Diluted)	$11.50	—	$4.41	—	160.8%
Free Cash Flow	$8.3B	—	$2.9B	—	186.7%

Revenue Flow

Item	Amount
REVENUE	$30.4B
Cost of Revenue	$12.5B
GROSS PROFIT	$17.9B
R&D Expenses	$2.3B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$813M
Other Expenses	-$258M
Operating Expenses	$2.9B
Cost & Expenses	$15.4B
OPERATING INCOME	$15.0B
Interest Income	$120M
Interest Expense	$342M
Other Income/Expenses	-$688M
INCOME BEFORE TAX	$14.3B
Income Tax Expense	$168M
Net Income from Continuing Ops	$14.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$14.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$14.1B
D&A	$4.8B
EBIT	$14.9B
EBITDA	$19.7B
EPS	$12
EPS Diluted	$12

Income Statement

Item	Amount
REVENUE	$30.4B
Cost of Revenue	$12.5B
GROSS PROFIT	$17.9B
R&D Expenses	$2.3B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$813M
Other Expenses	-$258M
Operating Expenses	$2.9B
Cost & Expenses	$15.4B
OPERATING INCOME	$15.0B
Interest Income	$120M
Interest Expense	$342M
Other Income/Expenses	-$688M
INCOME BEFORE TAX	$14.3B
Income Tax Expense	$168M
Net Income from Continuing Ops	$14.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$14.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$14.1B
D&A	$4.8B
EBIT	$14.9B
EBITDA	$19.7B
EPS	$12
EPS Diluted	$12

Cash Flow Statement

Item	Amount
Net Income	$14.1B
Depreciation & Amortization	$4.9B
Stock-Based Compensation	$198M
Deferred Income Tax	$284M
Other Non-Cash Items	-$164M
Change in Working Capital	-$1.9B
OPERATING CASH FLOW	$17.4B
Capital Expenditure	-$9.1B
Acquisitions (Net)	-$348M
Purchases of Investments	-$945M
Sales/Maturities of Investments	$1.1B
Other Investing Activities	$1.1B
NET CASH FROM INVESTING	-$8.2B
Net Debt Issuance	-$9.2B
Common Stock Repurchased	-$71M
Common Dividends Paid	$0
Other Financing Activities	$1.5B
NET CASH FROM FINANCING	-$7.8B
FREE CASH FLOW	$8.3B
Net Change in Cash	$1.4B

Balance Sheet

Item	Amount
Cash & Equivalents	$6.5B
Short-Term Investments	$296M
Net Receivables	$5.5B
Inventory	$3.6B
Other Current Assets	$164M
TOTAL CURRENT ASSETS	$16.0B
PP&E (Net)	$23.7B
Goodwill	$1.2B
Intangible Assets	$331M
Long-Term Investments	$473M
Tax Assets	$1.0B
Other Non-Current Assets	$611M
TOTAL NON-CURRENT ASSETS	$27.3B
TOTAL ASSETS	$43.4B
Account Payables	$1.7B
Short-Term Debt	$549M
Deferred Revenue	$491M
Other Current Liabilities	$30M
TOTAL CURRENT LIABILITIES	$5.8B
Long-Term Debt	$3.2B
Deferred Revenue NC	$227M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$451M
TOTAL NON-CURRENT LIABILITIES	$4.5B
TOTAL LIABILITIES	$10.2B
Common Stock	$117M
Additional Paid-In Capital	$8.2B
Retained Earnings	$24.4B
Treasury Stock	-$429M
Accum. Other Comp. Income	$10M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$32.3B
Minority Interest	$870M
TOTAL EQUITY	$33.2B
TOTAL LIABILITIES & EQUITY	$43.4B
Total Debt	$4.6B
Net Debt	-$1.9B