GURUFOCUS.COM » STOCK LIST » Technology » Semiconductors » Micron Technology Inc (BSP:MUTC34) » Definitions » Cyclically Adjusted PS Ratio

Micron Technology (BSP:MUTC34) Cyclically Adjusted PS Ratio : 5.76 (As of May. 19, 2024)


View and export this data going back to 2019. Start your Free Trial

What is Micron Technology Cyclically Adjusted PS Ratio?

As of today (2024-05-19), Micron Technology's current share price is R$106.59. Micron Technology's Cyclically Adjusted Revenue per Share for the quarter that ended in Feb. 2024 was R$18.52. Micron Technology's Cyclically Adjusted PS Ratio for today is 5.76.

The historical rank and industry rank for Micron Technology's Cyclically Adjusted PS Ratio or its related term are showing as below:

BSP:MUTC34' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.99   Med: 3.06   Max: 5.83
Current: 5.57

During the past years, Micron Technology's highest Cyclically Adjusted PS Ratio was 5.83. The lowest was 0.99. And the median was 3.06.

BSP:MUTC34's Cyclically Adjusted PS Ratio is ranked worse than
77.05% of 684 companies
in the Semiconductors industry
Industry Median: 2.325 vs BSP:MUTC34: 5.57

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

Micron Technology's adjusted revenue per share data for the three months ended in Feb. 2024 was R$4.323. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is R$18.52 for the trailing ten years ended in Feb. 2024.

Shiller PE for Stocks: The True Measure of Stock Valuation


Micron Technology Cyclically Adjusted PS Ratio Historical Data

The historical data trend for Micron Technology's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Micron Technology Cyclically Adjusted PS Ratio Chart

Micron Technology Annual Data
Trend Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 Aug20 Aug21 Aug22 Aug23
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.12 2.91 4.12 2.68 3.15

Micron Technology Quarterly Data
May19 Aug19 Nov19 Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.67 3.11 3.15 3.43 4.02

Competitive Comparison of Micron Technology's Cyclically Adjusted PS Ratio

For the Semiconductors subindustry, Micron Technology's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Micron Technology's Cyclically Adjusted PS Ratio Distribution in the Semiconductors Industry

For the Semiconductors industry and Technology sector, Micron Technology's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Micron Technology's Cyclically Adjusted PS Ratio falls into.



Micron Technology Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

Micron Technology's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=106.59/18.52
=5.76

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Micron Technology's Cyclically Adjusted Revenue per Share for the quarter that ended in Feb. 2024 is calculated as:

For example, Micron Technology's adjusted Revenue per Share data for the three months ended in Feb. 2024 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Feb. 2024 (Change)*Current CPI (Feb. 2024)
=4.323/130.9299*130.9299
=4.323

Current CPI (Feb. 2024) = 130.9299.

Micron Technology Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201405 1.238 100.373 1.615
201408 1.327 100.352 1.731
201411 1.628 99.635 2.139
201502 1.644 99.032 2.174
201505 1.677 100.333 2.188
201508 1.875 100.548 2.442
201511 1.948 100.135 2.547
201602 1.871 100.040 2.449
201605 1.651 101.355 2.133
201608 1.656 101.617 2.134
201611 2.024 101.829 2.602
201702 2.074 102.779 2.642
201705 2.526 103.256 3.203
201708 2.706 103.587 3.420
201711 3.020 104.072 3.799
201802 3.217 105.052 4.009
201805 3.821 106.148 4.713
201808 4.546 106.383 5.595
201811 4.253 106.338 5.237
201902 3.174 106.649 3.897
201905 2.821 108.048 3.418
201908 2.894 108.245 3.501
201911 3.156 108.519 3.808
202002 3.067 109.139 3.679
202005 4.527 108.175 5.479
202008 4.880 109.662 5.826
202011 4.619 109.793 5.508
202102 4.918 110.968 5.803
202105 5.710 113.576 6.582
202108 6.344 115.421 7.196
202111 6.312 117.269 7.047
202202 5.970 119.703 6.530
202205 6.375 123.323 6.768
202208 5.141 124.958 5.387
202211 3.290 125.607 3.429
202302 2.923 126.928 3.015
202305 2.847 128.314 2.905
202308 2.989 129.538 3.021
202311 3.507 129.548 3.544
202402 4.323 130.930 4.323

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.


Micron Technology  (BSP:MUTC34) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


Micron Technology Cyclically Adjusted PS Ratio Related Terms

Thank you for viewing the detailed overview of Micron Technology's Cyclically Adjusted PS Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.


Micron Technology (BSP:MUTC34) Business Description

Address
8000 South Federal Way, Post Office Box 6, Boise, ID, USA, 83716-9632
Micron is one of the largest semiconductor companies in the world, specializing in memory and storage chips. Its primary revenue stream comes from dynamic random access memory, or DRAM, and it also has minority exposure to not-and or NAND, flash chips. Micron serves a global customer base, selling chips into data centers, mobile phones, consumer electronics, and industrial and automotive applications. The firm is vertically integrated.

Micron Technology (BSP:MUTC34) Headlines

No Headlines