MU Q3 2021 Earnings Report — Micron Technology, Inc. Revenue & Financial Results | Market Cap Arena

Micron Technology, Inc.MU

Q3 2021 Earnings

Reported July 1, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2021	Q2 2021	Q3 2020	QoQ Change	YoY Change
Revenue	$7.4B	$6.2B	$5.4B	19.0%	36.5%
Op. Income	$1.8B	$663M	$888M	171.3%	102.6%
Gross Margin	42.1%	26.4%	32.4%	15.7pp	9.7pp
Net Margin	23.4%	9.7%	14.8%	13.7pp	8.6pp
EPS (Diluted)	$1.52	$0.53	$0.71	186.8%	114.1%
Free Cash Flow	$1.3B	$39M	$79M	3235.9%	1546.8%

Revenue Flow

Item	Amount
REVENUE	$7.4B
Cost of Revenue	$4.3B
GROSS PROFIT	$3.1B
R&D Expenses	$670M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$230M
Other Expenses	$427M
Operating Expenses	$1.3B
Cost & Expenses	$5.6B
OPERATING INCOME	$1.8B
Interest Income	$8M
Interest Expense	$46M
Other Income/Expenses	$1M
INCOME BEFORE TAX	$1.8B
Income Tax Expense	$65M
Net Income from Continuing Ops	$1.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.7B
D&A	$1.6B
EBIT	$2.3B
EBITDA	$3.8B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$7.4B
Cost of Revenue	$4.3B
GROSS PROFIT	$3.1B
R&D Expenses	$670M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$230M
Other Expenses	$427M
Operating Expenses	$1.3B
Cost & Expenses	$5.6B
OPERATING INCOME	$1.8B
Interest Income	$8M
Interest Expense	$46M
Other Income/Expenses	$1M
INCOME BEFORE TAX	$1.8B
Income Tax Expense	$65M
Net Income from Continuing Ops	$1.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.7B
D&A	$1.6B
EBIT	$2.3B
EBITDA	$3.8B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.7B
Depreciation & Amortization	$1.6B
Stock-Based Compensation	$96M
Deferred Income Tax	$1M
Other Non-Cash Items	$370M
Change in Working Capital	-$199M
OPERATING CASH FLOW	$3.6B
Capital Expenditure	-$2.3B
Acquisitions (Net)	$0
Purchases of Investments	-$570M
Sales/Maturities of Investments	$573M
Other Investing Activities	$175M
NET CASH FROM INVESTING	-$2.1B
Net Debt Issuance	-$53M
Common Stock Repurchased	-$150M
Common Dividends Paid	$0
Other Financing Activities	-$25M
NET CASH FROM FINANCING	-$228M
FREE CASH FLOW	$1.3B
Net Change in Cash	$1.3B

Balance Sheet

Item	Amount
Cash & Equivalents	$7.8B
Short-Term Investments	$590M
Net Receivables	$4.2B
Inventory	$4.5B
Other Current Assets	$1.4B
TOTAL CURRENT ASSETS	$18.6B
PP&E (Net)	$32.8B
Goodwill	$1.2B
Intangible Assets	$350M
Long-Term Investments	$1.4B
Tax Assets	$822M
Other Non-Current Assets	$816M
TOTAL NON-CURRENT ASSETS	$37.4B
TOTAL ASSETS	$55.9B
Account Payables	$1.6B
Short-Term Debt	$153M
Deferred Revenue	$0
Other Current Liabilities	$738M
TOTAL CURRENT LIABILITIES	$5.5B
Long-Term Debt	$6.0B
Deferred Revenue NC	$722M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$569M
TOTAL NON-CURRENT LIABILITIES	$8.2B
TOTAL LIABILITIES	$13.7B
Common Stock	$120M
Additional Paid-In Capital	$9.3B
Retained Earnings	$36.5B
Treasury Stock	-$3.6B
Accum. Other Comp. Income	$47M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$42.3B
Minority Interest	$0
TOTAL EQUITY	$42.3B
TOTAL LIABILITIES & EQUITY	$55.9B
Total Debt	$7.2B
Net Debt	-$531M