Medtronic PLC (MDT)

Operating profit margin

		Apr 30, 2024	Apr 26, 2024	Apr 30, 2023	Apr 28, 2023	Apr 30, 2022
Operating income	US$ in thousands	5,144,000	5,144,000	5,485,000	5,485,000	5,752,000
Revenue	US$ in thousands	32,364,000	32,961,000	31,227,000	31,528,000	31,686,000
Operating profit margin		15.89%	15.61%	17.56%	17.40%	18.15%

April 30, 2024 calculation

Operating profit margin = Operating income ÷ Revenue
= $5,144,000K ÷ $32,364,000K
= 15.89%

The operating profit margin of Medtronic PLC has shown a gradual decline over the years based on the provided data. It stood at 18.15% as of April 30, 2022, but decreased to 15.89% by April 30, 2024. This decrease indicates that Medtronic's ability to generate profits from its core operations has weakened over time. However, despite the downward trend, the operating profit margin has remained within a relatively narrow range between 15.61% and 18.15% during the period under review. This suggests a level of stability in the company's operating performance, although management may need to address factors impacting profitability to reverse the declining trend in the operating profit margin.