Medtronic PLC (MDT)
Fixed asset turnover
| Apr 30, 2024 | Apr 26, 2024 | Apr 30, 2023 | Apr 28, 2023 | Apr 30, 2022 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 32,364,000 | 32,961,000 | 31,227,000 | 31,528,000 | 31,686,000 |
| Property, plant and equipment | US$ in thousands | — | 6,131,000 | 6,610,000 | 5,569,000 | 5,413,000 |
| Fixed asset turnover | — | 5.38 | 4.72 | 5.66 | 5.85 |
April 30, 2024 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $32,364,000K ÷ $—K
= —
Based on the data provided for Medtronic PLC's fixed asset turnover, we observe fluctuations in the ratio over the years. It was 5.85 on April 30, 2022, indicating that the company generated $5.85 in revenue for every dollar invested in fixed assets during that period.
The ratio decreased to 5.66 on April 28, 2023, and further declined significantly to 4.72 on April 30, 2023, suggesting a potential inefficiency in utilizing fixed assets to generate revenue during these periods.
However, there was a notable improvement as the fixed asset turnover increased to 5.38 on April 26, 2024, indicating a better utilization of fixed assets to generate revenue compared to the previous year.
Unfortunately, the data is unavailable for April 30, 2024, making it difficult to assess the trend for that period. Overall, it is essential for Medtronic PLC to maintain a healthy fixed asset turnover ratio to ensure efficient utilization of its fixed assets in generating revenue and maximizing profitability.
Peer comparison
Apr 30, 2024