Medtronic PLC (MDT)

Total asset turnover

		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	Apr 30, 2022
Revenue (ttm)	US$ in thousands	33,199,000	34,610,000	34,296,000	34,282,000	33,677,000	31,778,000	31,391,000	31,065,000	31,625,000	33,219,000	33,244,000	33,239,000	32,280,000	30,315,000	29,959,000	29,518,000	30,022,000	30,506,000	30,898,000	31,419,000
Total assets	US$ in thousands	89,973,000	90,042,000	89,749,000	89,981,000	89,981,000	90,836,000	90,836,000	90,087,000	90,087,000	90,776,000	90,776,000	90,948,000	90,948,000	94,134,000	94,134,000	93,241,000	93,241,000	89,914,000	89,914,000	90,981,000
Total asset turnover		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	0.35

January 31, 2025 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $33,199,000K ÷ $89,973,000K
= 0.37

The total asset turnover of Medtronic PLC has ranged between 0.32 and 0.38 over the past few years, indicating that, on average, the company generates revenues equivalent to around 32% to 38% of its total assets annually. A higher total asset turnover ratio typically suggests that the company is efficiently utilizing its assets to generate sales. In Medtronic's case, the relatively stable but slightly increasing trend in the total asset turnover ratio from 0.32 in October 2022 to 0.37 in January 2025 may indicate improving efficiency in utilizing assets to drive revenues. However, it would be essential to assess this ratio in conjunction with other financial metrics and industry benchmarks to gain a more comprehensive understanding of Medtronic's overall performance and asset management efficiency.