Medtronic PLC (MDT)
Debt-to-assets ratio
| Apr 26, 2024 | Apr 28, 2023 | Apr 29, 2022 | Apr 30, 2021 | Apr 24, 2020 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | 21,700,000 | 22,900,000 | 28,600,000 | 22,140,000 |
| Total assets | US$ in thousands | 89,981,000 | 90,948,000 | 90,981,000 | 93,083,000 | 90,689,000 |
| Debt-to-assets ratio | 0.00 | 0.24 | 0.25 | 0.31 | 0.24 |
April 26, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $89,981,000K
= 0.00
The debt-to-assets ratio for Medtronic PLC has shown a decreasing trend over the last five years, starting at 0.24 in April 2020 and declining to 0.00 in April 2024. This indicates a significant reduction in the proportion of debt relative to total assets held by the company. A lower debt-to-assets ratio suggests that the company is relying less on debt financing and has a stronger ability to cover its financial obligations with its existing assets. This may reflect improved financial health and stability, as well as potentially lower financial risk for the company. It is important to note that a debt-to-assets ratio of 0.00 in April 2024 could imply that the company has either paid off all its debt or that it has negligible debt relative to its assets, which may warrant further investigation into the company's financial management strategies.
Peer comparison
Apr 26, 2024