Revenue Analysis
For MU, there have been fluctuations in Total and Operating Revenue across the periods. In the most recent period (2024-02-29), Total Revenue peaked at $5.824 billion, a rise from $4.726 billion in the previous quarter (2023-11-30). Operating Revenue was consistent, mirroring Total Revenue. Gross Profit showed recovery, from a negative $35 million to $1.079 billion in the same span.
Cost Management
Cost of Revenue remained relatively stable with $4.475 billion in the latest quarter. Operating Expense marked a decrease from $1.093 billion to $897 million in the final quarter of the review period. Total Expenses showed a managing trend, descending from $5.585 billion in 2023-11-30 to $5.642 billion in 2024-02-29.
Profitability Analysis
The EBITDA improved moving from $892 million to around $2.238 billion by the 2024-02-29. However, the Operating Income has seen significant recovery from past negative figures (-$1.128 billion on 2023-11-30) to about $182 million. Pretax Income also notably improved from a deep negative to $170 million. Net Income reflected this positive trajectory, correcting from negative figures to reach $793 million by 2024-02-29.
Cash Flow Indicators
Reconciled Depreciation appeared consistent, reflecting minor changes across the periods. Interest Expense also stayed relatively stable with a slight increase noted in the latest quarter at $144 million from $132 million in the previous term.
Taxation
The Tax Rate observed notable fluctuations particularly in earlier periods. The Tax Provision also moved from severe deductions to lesser amounts, reflecting gradual improvements in income before taxes. Noteworthy is the Tax Effect Of Unusual Items regaining a positive number of $3.6 million in the most recent quarter after having negative implications in previous periods.
Shareholder Metrics
Diluted and Basic EPS showed recovery, transitioning from -1.12 to 0.71 in the final period reviewed, aligning with the improved Net Income available to common stockholders which reached $793 million. Average shares remained fairly consistent with minor variations.
Conclusion
The past three years for MU have demonstrated critical recoveries and improvements in many financial metrics following earlier declines. Revenue has augmented, costs have been better managed, and profitability has shown significant revival. The company seems set on an encouraging trajectory, but maintaining cost management and leveraging revenue growth will be key to ensuring sustained profitability.
Appendices
Supporting Data Tables and Calculations: Refer to the structured data provided in starting sections for detailed numerical insights.