Medtronic PLC (MDT)

Current ratio

		Apr 30, 2024	Apr 26, 2024	Apr 30, 2023	Apr 28, 2023	Apr 30, 2022
Total current assets	US$ in thousands	21,935,000	21,935,000	21,675,000	21,675,000	23,059,000
Total current liabilities	US$ in thousands	10,789,000	10,789,000	9,051,000	9,051,000	12,394,000
Current ratio		2.03	2.03	2.39	2.39	1.86

April 30, 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 shown a positive trend over the years, indicating a strengthening liquidity position. As of April 30, 2022, the current ratio stood at 1.86, suggesting that the company had $1.86 in current assets for every $1 in current liabilities. By April 28, 2023, this ratio had increased to 2.39, and it remained at that level as of April 30, 2023. Subsequently, there was a slight decrease to 2.03 by April 26, 2024, which was maintained as of April 30, 2024.

Overall, the company's current ratio consistently stayed above 2 in the later years under review, indicating a healthy balance between current assets and liabilities. This suggests that Medtronic PLC is well-positioned to meet its short-term obligations and fund its ongoing operations efficiently.