Medtronic PLC (MDT)
Working capital turnover
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 33,537,000 | 33,199,000 | 34,610,000 | 34,296,000 | 34,282,000 | 33,677,000 | 31,778,000 | 31,391,000 | 31,065,000 | 31,626,000 | 33,220,000 | 33,245,000 | 33,240,000 | 32,280,000 | 30,315,000 | 29,959,000 | 29,518,000 | 30,022,000 | 30,506,000 | 30,898,000 |
| Total current assets | US$ in thousands | 23,814,000 | 22,513,000 | 22,438,000 | 21,947,000 | 21,935,000 | 21,935,000 | 22,513,000 | 22,513,000 | 22,081,000 | 22,081,000 | 21,869,000 | 21,869,000 | 21,675,000 | 21,675,000 | 25,364,000 | 25,364,000 | 25,398,000 | 25,398,000 | 22,135,000 | 22,135,000 |
| Total current liabilities | US$ in thousands | 12,879,000 | 11,840,000 | 12,195,000 | 10,287,000 | 10,789,000 | 10,789,000 | 9,793,000 | 9,793,000 | 9,659,000 | 9,659,000 | 9,047,000 | 9,047,000 | 9,051,000 | 9,051,000 | 14,422,000 | 14,422,000 | 14,465,000 | 14,465,000 | 14,049,000 | 14,049,000 |
| 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 |
April 30, 2025 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $33,537,000K ÷ ($23,814,000K – $12,879,000K)
= 3.07
The working capital turnover ratio for Medtronic PLC has fluctuated over the past few quarters. It started at 3.82 in July 2022, then decreased to 2.70 in October 2022, and remained around the 2.5-2.8 range until April 2024. It spiked to 3.38 in October 2024, before slightly decreasing to 3.11 in January 2025 and 3.07 in April 2025.
A working capital turnover ratio of above 1 indicates that the company is effectively utilizing its working capital to generate sales. A higher ratio generally indicates better efficiency in managing working capital.
The recent improvement in the working capital turnover ratio suggests that Medtronic PLC has been more efficient in converting its working capital into revenue in recent quarters. However, the fluctuations in the ratio over the periods indicate the need for consistent monitoring and management of working capital to maintain efficiency in operations.
Peer comparison
Apr 30, 2025