Medtronic PLC (MDT)

Cash ratio

		Apr 30, 2024	Apr 26, 2024	Apr 30, 2023	Apr 28, 2023	Apr 30, 2022
Cash and cash equivalents	US$ in thousands	1,284,000	1,284,000	1,543,000	1,543,000	3,714,000
Short-term investments	US$ in thousands	6,721,000	6,721,000	6,416,000	6,416,000	6,859,000
Total current liabilities	US$ in thousands	10,789,000	10,789,000	9,051,000	9,051,000	12,394,000
Cash ratio		0.74	0.74	0.88	0.88	0.85

April 30, 2024 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($1,284,000K + $6,721,000K) ÷ $10,789,000K
= 0.74

The cash ratio of Medtronic PLC, which measures the company's ability to cover its short-term liabilities with its cash and cash equivalents, has been relatively stable over the past few years.

As of April 30, 2022, the company had a cash ratio of 0.85, indicating that it had $0.85 in cash and cash equivalents for every $1 in short-term liabilities. This ratio slightly increased to 0.88 by April 28, 2023, and remained at the same level on April 30, 2023.

However, there was a decrease in the cash ratio to 0.74 by April 26, 2024, which was maintained at the same level on April 30, 2024. This decline may suggest a slight deterioration in the company's ability to cover its short-term obligations with readily available cash.

Overall, while the cash ratio of Medtronic PLC has fluctuated slightly in recent years, it remains at a reasonable level, indicating a strong ability to meet short-term financial obligations with cash reserves.