Medtronic PLC (MDT)
Fixed asset turnover
| Apr 26, 2024 | Jan 26, 2024 | Oct 27, 2023 | Jul 28, 2023 | Apr 28, 2023 | Jan 27, 2023 | Oct 28, 2022 | Jul 29, 2022 | Apr 29, 2022 | Jan 28, 2022 | Oct 29, 2021 | Jul 30, 2021 | Apr 30, 2021 | Jan 29, 2021 | Oct 30, 2020 | Jul 31, 2020 | Apr 24, 2020 | Jan 24, 2020 | Oct 25, 2019 | Jul 26, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 32,983,000 | 32,678,000 | 32,347,000 | 31,976,000 | 31,530,000 | 30,049,000 | 30,129,000 | 30,435,000 | 31,156,000 | 31,285,000 | 31,267,000 | 30,705,000 | 29,191,000 | 27,143,000 | 27,072,000 | 27,436,000 | 27,578,000 | 29,726,000 | 29,468,000 | 29,167,000 |
| Property, plant and equipment | US$ in thousands | 6,131,000 | 5,838,000 | 5,735,000 | 5,665,000 | 5,569,000 | 5,437,000 | 5,298,000 | 5,281,000 | 5,413,000 | 5,251,000 | 5,188,000 | 5,162,000 | 5,221,000 | 5,023,000 | 4,938,000 | 4,882,000 | 4,828,000 | 4,764,000 | 4,756,000 | 4,711,000 |
| Fixed asset turnover | 5.38 | 5.60 | 5.64 | 5.64 | 5.66 | 5.53 | 5.69 | 5.76 | 5.76 | 5.96 | 6.03 | 5.95 | 5.59 | 5.40 | 5.48 | 5.62 | 5.71 | 6.24 | 6.20 | 6.19 |
April 26, 2024 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $32,983,000K ÷ $6,131,000K
= 5.38
The fixed asset turnover ratio for Medtronic PLC has shown a generally positive trend over the past several quarters. The ratio has been consistently above 5, indicating that the company generates $5 or more in revenue for every $1 invested in fixed assets.
The highest fixed asset turnover ratio of 6.24 was recorded in the third quarter of 2020, showing efficient utilization of fixed assets to generate revenue. While there have been fluctuations in the ratio over the periods analyzed, the overall trend suggests that Medtronic is effectively using its fixed assets to generate sales.
A high fixed asset turnover ratio is generally a positive sign, as it indicates that the company is making efficient use of its assets to generate revenue. Investors and analysts often look at this ratio to assess how effectively a company is utilizing its fixed assets to generate sales.
Peer comparison
Apr 26, 2024