Medtronic PLC (MDT)
Quick ratio
| Apr 30, 2024 | Apr 26, 2024 | Apr 30, 2023 | Apr 28, 2023 | Apr 30, 2022 | ||
|---|---|---|---|---|---|---|
| Cash | 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 |
| Receivables | US$ in thousands | — | 6,128,000 | — | 5,998,000 | — |
| Total current liabilities | US$ in thousands | 10,789,000 | 10,789,000 | 9,051,000 | 9,051,000 | 12,394,000 |
| Quick ratio | 0.74 | 1.31 | 0.88 | 1.54 | 0.85 |
April 30, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,284,000K
+ $6,721,000K
+ $—K)
÷ $10,789,000K
= 0.74
The quick ratio of Medtronic PLC has fluctuated over the past few years, varying from a low of 0.74 in April 30, 2024, to a high of 1.54 in April 28, 2023. This ratio is used to assess the company's ability to meet its short-term liabilities with its most liquid assets. A quick ratio above 1 indicates that the company has enough liquid assets to cover its short-term obligations, while a ratio below 1 may suggest potential liquidity issues. It is important to monitor this ratio closely to ensure the company's financial health and ability to meet its obligations in a timely manner.
Peer comparison
Apr 30, 2024