Medtronic PLC (MDT)

Debt-to-assets ratio

		Apr 30, 2024	Apr 26, 2024	Apr 30, 2023	Apr 28, 2023	Apr 30, 2022
Long-term debt	US$ in thousands	—	—	—	21,700,000	—
Total assets	US$ in thousands	89,981,000	89,981,000	90,948,000	90,948,000	90,981,000
Debt-to-assets ratio		0.00	0.00	0.00	0.24	0.00

April 30, 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 provides insight into the company's solvency and financial risk management. As of April 30, 2022, the ratio was 0.00, indicating that the company had no debt relative to its total assets at that time. This suggests a strong financial position with minimal financial leverage.

However, the ratio increased to 0.24 as of April 28, 2023, which may indicate that Medtronic PLC took on debt to finance its operations or investments. Although the ratio is still relatively low, it signals a slight increase in the company's reliance on debt to support its asset base.

Subsequently, the ratio returned to 0.00 as of April 30, 2023, and remained at 0.00 through April 26, 2024, and April 30, 2024. The consistent 0.00 ratio in the later periods suggests that Medtronic PLC managed its debt levels effectively or potentially reduced its debt burden.

Overall, the fluctuation in Medtronic PLC's debt-to-assets ratio indicates the company's strategic approach to balancing debt and assets to maintain financial stability and optimize its capital structure for long-term growth and sustainability.