Medtronic PLC (MDT)

Current 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
Total current assets	US$ in thousands	21,935,000	22,513,000	22,081,000	21,869,000	21,675,000	25,364,000	25,398,000	22,135,000	23,059,000	23,303,000	22,731,000	22,434,000	22,548,000	26,347,000	26,036,000	24,509,000	22,031,000	24,043,000	22,653,000	22,705,000
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
Current ratio		2.03	2.30	2.29	2.42	2.39	1.76	1.76	1.58	1.86	2.61	2.91	2.89	2.65	2.10	2.16	1.87	2.13	2.75	2.77	2.67

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 displayed fluctuations over the past several quarters, ranging from a low of 1.58 in July 2022 to a high of 2.91 in January 2022. The current ratio measures the company's ability to cover its short-term liabilities with its current assets.

In the most recent period, the current ratio stood at 2.03, indicating that Medtronic PLC had $2.03 in current assets for every $1 in current liabilities. This suggests a healthy liquidity position, although it has decreased compared to the previous reporting period.

It is worth noting that the current ratio has generally remained above 2.0 in recent quarters, indicating that the company has a comfortable cushion to cover its short-term obligations. However, the fluctuations in the current ratio over time may warrant further investigation into the company's asset and liability management strategies.