Medtronic PLC (MDT)
Total asset 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 |
| Total assets | US$ in thousands | 89,981,000 | 90,948,000 | 90,981,000 | 93,083,000 | 90,689,000 |
| Total asset turnover | 0.37 | 0.35 | 0.34 | 0.31 | 0.30 |
April 26, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $32,961,000K ÷ $89,981,000K
= 0.37
The total asset turnover ratio of Medtronic PLC has been steadily increasing over the past five years, indicating an improvement in the efficiency with which the company is utilizing its assets to generate sales.
In particular, the ratio has increased from 0.30 in April 2020 to 0.37 in April 2024. This suggests that for every dollar of assets held by the company, it generated $0.37 in revenue in 2024, compared to $0.30 in 2020.
This positive trend in total asset turnover reflects the company's ability to generate more revenue relative to its asset base, which could be attributed to improved operational efficiency, strategic investments, or effective management of assets. Overall, a rising total asset turnover ratio is a positive indicator of a company's operational performance and financial health.
Peer comparison
Apr 26, 2024