Medtronic PLC (MDT)
Cash ratio
| Apr 26, 2024 | Jan 26, 2024 | Oct 27, 2023 | Jul 28, 2023 | Apr 28, 2023 | Jan 27, 2023 | Oct 28, 2022 | Jul 29, 2022 | Apr 29, 2022 | Jan 28, 2022 | Oct 29, 2021 | Jul 30, 2021 | Apr 30, 2021 | Jan 29, 2021 | Oct 30, 2020 | Jul 31, 2020 | Apr 24, 2020 | Jan 24, 2020 | Oct 25, 2019 | Jul 26, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 1,284,000 | 1,623,000 | 1,311,000 | 1,339,000 | 1,543,000 | 4,521,000 | 4,828,000 | 2,140,000 | 3,714,000 | 3,479,000 | 2,900,000 | 3,004,000 | 3,593,000 | 5,077,000 | 6,420,000 | 6,499,000 | 4,140,000 | 3,709,000 | 3,962,000 | 5,080,000 |
| Short-term investments | US$ in thousands | 6,721,000 | 6,698,000 | 6,423,000 | 6,537,000 | 6,416,000 | 6,616,000 | 6,602,000 | 6,733,000 | 6,859,000 | 7,742,000 | 7,769,000 | 7,591,000 | 7,224,000 | 9,562,000 | 7,857,000 | 6,513,000 | 6,808,000 | 7,919,000 | 6,436,000 | 5,603,000 |
| Total current liabilities | US$ in thousands | 10,789,000 | 9,793,000 | 9,659,000 | 9,047,000 | 9,051,000 | 14,422,000 | 14,465,000 | 14,049,000 | 12,394,000 | 8,927,000 | 7,803,000 | 7,764,000 | 8,509,000 | 12,534,000 | 12,071,000 | 13,086,000 | 10,366,000 | 8,735,000 | 8,170,000 | 8,518,000 |
| Cash ratio | 0.74 | 0.85 | 0.80 | 0.87 | 0.88 | 0.77 | 0.79 | 0.63 | 0.85 | 1.26 | 1.37 | 1.36 | 1.27 | 1.17 | 1.18 | 0.99 | 1.06 | 1.33 | 1.27 | 1.25 |
April 26, 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 has shown some fluctuations over the periods indicated in the table. The cash ratio measures the company's ability to cover short-term liabilities with its cash and cash equivalents. A higher cash ratio indicates a stronger ability to cover short-term obligations.
In the last few periods, the cash ratio of Medtronic PLC has generally been above 1, indicating that the company has had more than enough cash to cover its short-term liabilities. However, we observed a decrease in the cash ratio from 1.37 in Jan 28, 2022, to 0.79 in Oct 28, 2022, suggesting a potential decrease in the company's cash reserves relative to its short-term obligations during that period.
Following this decrease, the cash ratio of Medtronic PLC has generally improved, with some fluctuations, hovering around the range of 0.70 to 1.00. The company's current cash ratio of 0.74 as of Apr 26, 2024, indicates that it may have sufficient cash on hand to cover its short-term liabilities, although not as strong as the ratios above 1 observed in some previous periods.
Overall, the trend in Medtronic PLC's cash ratio suggests that the company has managed its cash position effectively to meet its short-term obligations, with some fluctuations observed over the periods analyzed. Monitoring the cash ratio over time can provide insights into the company's liquidity and potential cash flow challenges.
Peer comparison
Apr 26, 2024