Medtronic PLC (MDT)

Total asset turnover

		Apr 30, 2024	Apr 26, 2024	Apr 30, 2023	Apr 28, 2023	Apr 30, 2022
Revenue	US$ in thousands	32,364,000	32,961,000	31,227,000	31,528,000	31,686,000
Total assets	US$ in thousands	89,981,000	89,981,000	90,948,000	90,948,000	90,981,000
Total asset turnover		0.36	0.37	0.34	0.35	0.35

April 30, 2024 calculation

Total asset turnover = Revenue ÷ Total assets
= $32,364,000K ÷ $89,981,000K
= 0.36

The total asset turnover ratio for Medtronic PLC has remained relatively stable over the past few years, ranging between 0.34 and 0.37. This indicates that, on average, the company generates $0.34 to $0.37 in revenue for every dollar of assets it owns. A consistent total asset turnover ratio may suggest effective asset utilization and operational efficiency. However, it's also important to consider industry benchmarks and trends in comparison to competitors to gain a more holistic understanding of Medtronic's performance in utilizing its assets to generate revenue.