Medtronic PLC (MDT)

Payables turnover

		Apr 30, 2025	Apr 30, 2024	Apr 26, 2024	Apr 30, 2023	Apr 28, 2023
Cost of revenue	US$ in thousands	—	11,216,000	24,405,000	10,719,000	23,398,000
Payables	US$ in thousands	2,449,000	2,410,000	2,410,000	2,662,000	2,662,000
Payables turnover		0.00	4.65	10.13	4.03	8.79

April 30, 2025 calculation

Payables turnover = Cost of revenue ÷ Payables
= $—K ÷ $2,449,000K
= 0.00

The payables turnover ratio for Medtronic PLC has shown fluctuation over the last few years. In April 28, 2023, the payables turnover ratio was 8.79, indicating that the company took approximately 8.79 times to pay off its accounts payable during that period. However, this ratio decreased significantly to 4.03 by April 30, 2023, suggesting a slower payment of accounts payable.

Subsequently, the payables turnover ratio increased to 10.13 by April 26, 2024, reflecting a faster payment cycle and efficient management of accounts payable. However, the ratio dropped again to 4.65 by April 30, 2024, showing a slight decrease in the speed of paying off payables.

Interestingly, in April 30, 2025, the payables turnover ratio is reported as 0.00. This might indicate a different reporting structure or accounting treatment for that period, and further investigation would be needed to understand the reason behind this observation.

Overall, the trend in Medtronic PLC's payables turnover ratio suggests variability in the management of accounts payable efficiency over the years, with periods of both improvement and decline.