Medtronic PLC (MDT)

Receivables turnover

		Apr 26, 2024	Apr 28, 2023	Apr 29, 2022	Apr 30, 2021	Apr 24, 2020
Revenue	US$ in thousands	32,961,000	31,528,000	31,186,000	28,884,000	27,415,000
Receivables	US$ in thousands	6,128,000	5,998,000	5,551,000	5,462,000	4,645,000
Receivables turnover		5.38	5.26	5.62	5.29	5.90

April 26, 2024 calculation

Receivables turnover = Revenue ÷ Receivables
= $32,961,000K ÷ $6,128,000K
= 5.38

The receivables turnover ratio measures how efficiently a company is able to collect payments from its customers. A higher receivables turnover ratio generally indicates that the company is collecting payments from customers more quickly, which is a positive sign of operational efficiency.

Analyzing the receivables turnover ratio of Medtronic PLC over the past five years, we observe some fluctuations but an overall stable performance. The company's receivables turnover ratio ranged from 5.26 to 5.90 during this period.

In the most recent fiscal year ending on April 26, 2024, Medtronic PLC's receivables turnover ratio was 5.38. This indicates that, on average, the company was able to collect payments from its customers approximately 5.38 times throughout the year. Comparing this to the prior years, the company's receivables turnover has remained relatively consistent, with minor fluctuations.

Overall, Medtronic PLC's receivables turnover ratio suggests that the company has been effectively managing its accounts receivables and collecting payments in a timely manner. It is important to continue monitoring this ratio to ensure that the trend remains stable and in line with industry standards.