Medtronic PLC (MDT)
Payables turnover
| Apr 30, 2024 | Apr 26, 2024 | Apr 30, 2023 | Apr 28, 2023 | Apr 30, 2022 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 11,216,000 | 24,405,000 | 10,719,000 | 23,398,000 | 10,145,000 |
| Payables | US$ in thousands | — | 2,410,000 | — | 2,662,000 | — |
| Payables turnover | — | 10.13 | — | 8.79 | — |
April 30, 2024 calculation
Payables turnover = Cost of revenue ÷ Payables
= $11,216,000K ÷ $—K
= —
The payables turnover ratio represents how efficiently a company is managing its accounts payable. A higher payables turnover ratio indicates quicker payments to suppliers, which can be a sign of strong liquidity and effective working capital management.
Based on the data provided, the payables turnover for Medtronic PLC shows inconsistency with values of 8.79 in April 28, 2023 and 10.13 in April 26, 2024. The ratio being "—" on some dates signifies missing data or the company might not have reported values for those periods.
Overall, the trend indicates an improvement in the efficiency of paying off its accounts payable over time, as the payables turnover ratio has increased. However, a more consistent measurement over multiple periods would provide a more accurate assessment of Medtronic's payables management efficiency.
Peer comparison
Apr 30, 2024