Medtronic PLC (MDT)

Gross profit margin

		Apr 26, 2024	Apr 28, 2023	Apr 29, 2022	Apr 30, 2021	Apr 24, 2020
Gross profit	US$ in thousands	8,556,000	8,130,000	8,180,000	6,470,000	19,490,000
Revenue	US$ in thousands	32,961,000	31,528,000	31,186,000	28,884,000	27,415,000
Gross profit margin		25.96%	25.79%	26.23%	22.40%	71.09%

April 26, 2024 calculation

Gross profit margin = Gross profit ÷ Revenue
= $8,556,000K ÷ $32,961,000K
= 25.96%

The gross profit margin of Medtronic PLC has shown some variability over the past five fiscal years. In April 2024, the gross profit margin stood at 25.96%, slightly higher compared to the previous year's 25.79%. This suggests that Medtronic was able to maintain or slightly improve its profitability in terms of gross profit generation in the most recent fiscal year.

Looking further back, in April 2022, the gross profit margin was 26.23%, indicating a relatively stable performance in maintaining profitability. However, there was a noticeable decrease in profitability in April 2021, with the gross profit margin falling to 22.40%. This could indicate challenges or changes in the company's cost structure or pricing strategies during that fiscal year.

The most significant deviation in the gross profit margin occurred in April 2020, where the margin was exceptionally high at 71.09%. This significant increase could be attributed to various factors such as unique market conditions, one-time events, or changes in accounting treatment that boosted profitability in that particular year.

Overall, while the gross profit margin of Medtronic PLC has shown some fluctuations, it has generally remained within a relatively consistent range over the past five years, with the company demonstrating the ability to effectively manage its cost of goods sold and generate gross profit.