Medtronic PLC (MDT)

Current ratio

		Apr 26, 2024	Apr 28, 2023	Apr 29, 2022	Apr 30, 2021	Apr 24, 2020
Total current assets	US$ in thousands	21,935,000	21,675,000	23,059,000	22,548,000	22,031,000
Total current liabilities	US$ in thousands	10,789,000	9,051,000	12,394,000	8,509,000	10,366,000
Current ratio		2.03	2.39	1.86	2.65	2.13

April 26, 2024 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $21,935,000K ÷ $10,789,000K
= 2.03

The current ratio of Medtronic PLC has exhibited some fluctuations over the past five years. As of April 26, 2024, the current ratio stands at 2.03, reflecting a decrease from the previous year. This decrease may indicate a reduction in the company's ability to cover its short-term obligations with its current assets.

Comparing the current ratio to previous years, we observe that there have been fluctuations in the company's liquidity position. The current ratio was highest in April 2021 at 2.65, indicating a stronger ability to meet short-term obligations at that time. However, in April 2022, the current ratio decreased to 1.86, suggesting a potential liquidity challenge.

Overall, while the current ratio of Medtronic PLC has varied over the years, it is essential to assess other financial metrics in conjunction with the current ratio to gain a comprehensive understanding of the company's liquidity and financial health.