Medtronic PLC (MDT)
Fixed asset turnover
| Apr 26, 2024 | Apr 28, 2023 | Apr 29, 2022 | Apr 30, 2021 | Apr 24, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 32,961,000 | 31,528,000 | 31,186,000 | 28,884,000 | 27,415,000 |
| Property, plant and equipment | US$ in thousands | 6,131,000 | 5,569,000 | 5,413,000 | 5,221,000 | 4,828,000 |
| Fixed asset turnover | 5.38 | 5.66 | 5.76 | 5.53 | 5.68 |
April 26, 2024 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $32,961,000K ÷ $6,131,000K
= 5.38
Fixed asset turnover measures how efficiently a company is utilizing its fixed assets to generate sales. A higher fixed asset turnover ratio indicates that the company is generating more sales relative to its investment in fixed assets. Medtronic PLC's fixed asset turnover has been relatively stable over the past five years, ranging from 5.38 to 5.76. This suggests that the company has consistently been able to generate sales using its fixed assets efficiently. However, the slight fluctuations in the ratio may indicate changes in the company's asset base or sales volume over the years. Overall, Medtronic PLC's fixed asset turnover ratio indicates that the company is effectively utilizing its fixed assets to drive revenue.
Peer comparison
Apr 26, 2024