Medtronic PLC (MDT)

Operating return on assets (Operating ROA)

		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
Operating income (ttm)	US$ in thousands	5,144,000	5,656,000	5,565,000	5,629,000	5,486,000	5,592,000	5,859,000	6,018,000	5,752,000	5,686,000	5,304,000	4,671,000	4,485,000	3,196,000	3,558,000	3,979,000	4,791,000	6,421,000	6,324,000	6,517,000
Total assets	US$ in thousands	89,981,000	90,836,000	90,087,000	90,776,000	90,948,000	94,134,000	93,241,000	89,914,000	90,981,000	91,804,000	91,756,000	91,802,000	93,083,000	97,270,000	95,886,000	93,906,000	90,689,000	92,822,000	91,053,000	91,268,000
Operating ROA		5.72%	6.23%	6.18%	6.20%	6.03%	5.94%	6.28%	6.69%	6.32%	6.19%	5.78%	5.09%	4.82%	3.29%	3.71%	4.24%	5.28%	6.92%	6.95%	7.14%

April 26, 2024 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $5,144,000K ÷ $89,981,000K
= 5.72%

Operating return on assets (operating ROA) measures a company's ability to generate earnings from its operational assets. For Medtronic PLC, the operating ROA has shown fluctuation over the past few quarters. The trend indicates that the company's efficiency in utilizing its assets to generate operating profits has varied.

The operating ROA ranged from 3.29% to 7.14% over the last 20 quarters. The highest operating ROA of 7.14% was recorded in the third quarter of the fiscal year 2019, while the lowest was 3.29% in the first quarter of the fiscal year 2021.

Overall, Medtronic PLC has shown a relatively stable performance in terms of operating ROA, with the ratio staying above 5% for most quarters. However, investors should closely monitor the trend to assess the company's operational efficiency and profitability.