Medtronic PLC (MDT)
Quick 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 | 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 |
| Receivables | US$ in thousands | 6,128,000 | 5,968,000 | 5,934,000 | 5,806,000 | 5,998,000 | 5,887,000 | 5,626,000 | 5,308,000 | 5,551,000 | 5,446,000 | 5,493,000 | 5,431,000 | 5,462,000 | 5,215,000 | 5,348,000 | 4,876,000 | 4,645,000 | 6,248,000 | 6,118,000 | 5,894,000 |
| 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 |
| Quick ratio | 1.31 | 1.46 | 1.42 | 1.51 | 1.54 | 1.18 | 1.18 | 1.01 | 1.30 | 1.87 | 2.07 | 2.06 | 1.91 | 1.58 | 1.63 | 1.37 | 1.50 | 2.05 | 2.02 | 1.95 |
April 26, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,284,000K
+ $6,721,000K
+ $6,128,000K)
÷ $10,789,000K
= 1.31
The quick ratio of Medtronic PLC has shown some fluctuations over the past few quarters, ranging from a low of 1.01 to a high of 2.07. A quick ratio above 1 indicates that the company has an adequate level of liquid assets to cover its short-term liabilities.
In the most recent quarter, the quick ratio was 1.31, indicating that the company had $1.31 in liquid assets available to cover each $1 of its current liabilities. This suggests that Medtronic PLC has a healthy liquidity position and should be able to meet its short-term obligations without difficulty.
The trend of the quick ratio over the past several quarters suggests that the company has maintained a generally stable liquidity position, although there have been fluctuations. Investors and analysts may want to continue monitoring the quick ratio to ensure that Medtronic PLC maintains its ability to meet its short-term obligations effectively.
Peer comparison
Apr 26, 2024