Medtronic PLC (MDT)

Activity ratios

Short-term

Turnover ratios

	Apr 30, 2025	Jan 31, 2025	Oct 31, 2024	Jul 31, 2024	Apr 30, 2024	Apr 26, 2024	Jan 31, 2024	Jan 26, 2024	Oct 31, 2023	Oct 27, 2023	Jul 31, 2023	Jul 28, 2023	Apr 30, 2023	Apr 28, 2023	Jan 31, 2023	Jan 27, 2023	Oct 31, 2022	Oct 28, 2022	Jul 31, 2022	Jul 29, 2022
Inventory turnover	1.63	2.20	2.97	2.97	3.61	3.49	3.04	3.02	2.97	3.01	3.11	3.13	3.36	3.28	3.10	3.14	3.29	3.38	3.73	3.64
Receivables turnover	5.15	5.43	5.53	5.71	5.59	5.50	5.32	5.26	5.24	5.33	5.72	5.73	5.54	5.38	5.15	5.09	5.25	5.34	5.75	5.82
Payables turnover	3.65	5.39	6.85	7.03	7.81	7.55	8.75	8.68	7.87	7.97	7.88	7.91	6.68	6.52	7.53	7.64	7.56	7.77	8.23	8.02
Working capital turnover	3.07	3.11	3.38	2.94	3.08	3.02	2.50	2.47	2.50	2.55	2.59	2.59	2.63	2.56	2.77	2.74	2.70	2.75	3.77	3.82

Inventory Turnover Ratio:

- Over the past few years, Medtronic PLC's inventory turnover ratio has shown a stable trend, ranging between 2.20 and 3.73.
- The ratio indicates how efficiently the company is managing its inventory levels.
- A decreasing trend in the ratio from 3.73 to 2.97 over the recent periods may signify potential issues with inventory management efficiency.

Receivables Turnover Ratio:

- The receivables turnover ratio for Medtronic PLC has generally been consistent, fluctuating between 5.09 and 5.82.
- This ratio reflects how effectively the company is collecting receivables from its customers.
- The consistency in this ratio indicates that Medtronic has been successful in managing its accounts receivables effectively.

Payables Turnover Ratio:

- Medtronic PLC's payables turnover ratio has shown a declining trend, decreasing from 8.23 to 3.65 over the analyzed periods.
- This ratio provides insights into how quickly the company is paying its suppliers.
- The decreasing trend in this ratio may suggest that Medtronic is taking longer to settle its payables, which could impact its relationships with suppliers.

Working Capital Turnover Ratio:

- The working capital turnover ratio for Medtronic PLC has shown a fluctuating pattern, ranging from 2.47 to 3.82.
- This ratio indicates how efficiently the company is utilizing its working capital to generate sales.
- The varying trend in this ratio may indicate changes in the company's business operations or working capital management strategies.

Average number of days

		Apr 30, 2025	Jan 31, 2025	Oct 31, 2024	Jul 31, 2024	Apr 30, 2024	Apr 26, 2024	Jan 31, 2024	Jan 26, 2024	Oct 31, 2023	Oct 27, 2023	Jul 31, 2023	Jul 28, 2023	Apr 30, 2023	Apr 28, 2023	Jan 31, 2023	Jan 27, 2023	Oct 31, 2022	Oct 28, 2022	Jul 31, 2022	Jul 29, 2022
Days of inventory on hand (DOH)	days	223.87	166.21	122.95	122.72	101.14	104.64	119.87	120.94	122.73	121.18	117.20	116.80	108.59	111.37	117.93	116.31	111.02	108.00	97.83	100.41
Days of sales outstanding (DSO)	days	70.91	67.23	66.02	63.97	65.24	66.42	68.55	69.39	69.72	68.49	63.79	63.74	65.86	67.82	70.88	71.72	69.57	68.40	63.51	62.70
Number of days of payables	days	100.12	67.73	53.32	51.93	46.72	48.34	41.70	42.07	46.37	45.79	46.30	46.14	54.61	56.01	48.47	47.80	48.27	46.96	44.35	45.52

Medtronic PLC's Days of Inventory on Hand (DOH) indicates the average number of days the company holds inventory before selling it. The trend shows fluctuations, with a general increase over time. From July 2022 to April 2025, the DOH increased from 100.41 days to 223.87 days, suggesting a potential inefficiency in managing inventory levels.

Days of Sales Outstanding (DSO) measures how long it takes for the company to collect revenue after making a sale. The DSO trend for Medtronic PLC is relatively stable, with minor fluctuations. From July 2022 to April 2025, the DSO ranged from 62.70 days to 70.91 days, indicating a consistent collection period for sales.

The Number of Days of Payables represents the average time a company takes to pay its suppliers. For Medtronic PLC, the trend shows variability but generally indicates an efficient level of managing payables. The days ranged from 44.35 days to 100.12 days from July 2022 to April 2025. The significant increase in payables days towards April 2025 may suggest a change in the company's payment policies or supplier relationships.

Overall, these activity ratios provide insights into Medtronic PLC's inventory management, sales collection efficiency, and payment practices over the analyzed period, highlighting areas for potential operational improvements and further investigation.

Long-term

	Apr 30, 2025	Jan 31, 2025	Oct 31, 2024	Jul 31, 2024	Apr 30, 2024	Apr 26, 2024	Jan 31, 2024	Jan 26, 2024	Oct 31, 2023	Oct 27, 2023	Jul 31, 2023	Jul 28, 2023	Apr 30, 2023	Apr 28, 2023	Jan 31, 2023	Jan 27, 2023	Oct 31, 2022	Oct 28, 2022	Jul 31, 2022	Jul 29, 2022
Fixed asset turnover	—	—	—	—	—	5.49	—	5.38	5.42	5.51	5.86	5.87	5.97	5.80	5.58	5.51	5.57	5.67	5.78	5.85
Total asset turnover	0.37	0.37	0.38	0.38	0.38	0.37	0.35	0.35	0.34	0.35	0.37	0.37	0.37	0.35	0.32	0.32	0.32	0.32	0.34	0.34

The fixed asset turnover ratio for Medtronic PLC has been relatively stable over the analyzed periods, ranging from 5.38 to 5.97. This indicates that the company is efficiently utilizing its fixed assets to generate sales. The highest ratio was observed in April 30, 2023, suggesting that Medtronic was particularly effective in generating revenue from its fixed assets during that period.

On the other hand, the total asset turnover ratio for Medtronic has shown a consistent pattern of improvement, increasing from 0.32 to 0.38. This signifies that the company has been successful in generating more sales revenue relative to its total assets over time. The highest total asset turnover ratio was recorded in July 31, 2024.

Overall, both ratios suggest that Medtronic PLC has been effectively utilizing its assets to drive sales and generate revenue, highlighting operational efficiency and financial performance.