Medtronic PLC (MDT)

Debt-to-assets ratio

		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
Long-term debt	US$ in thousands	—	—	—	—	21,700,000	—	21,100,000	20,100,000	22,900,000	26,500,000	28,000,000	29,200,000	28,600,000	30,800,000	29,900,000	28,900,000	22,140,000	27,500,000	27,300,000	27,800,000
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
Debt-to-assets ratio		0.00	0.00	0.00	0.00	0.24	0.00	0.23	0.22	0.25	0.29	0.31	0.32	0.31	0.32	0.31	0.31	0.24	0.30	0.30	0.30

April 26, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $89,981,000K
= 0.00

The debt-to-assets ratio of Medtronic PLC has shown variation over the past few quarters. From the data provided, the debt-to-assets ratio was consistently low at 0.00 in the first four quarters of 2024. This indicates that the company had minimal debt relative to its total assets during this period.

However, there was a notable increase in the debt-to-assets ratio to 0.24 in the prior quarter (Apr 28, 2023), suggesting an increase in the proportion of debt to total assets. This trend continued to fluctuate with ratios of 0.23, 0.22, and 0.25 in subsequent quarters.

In the latest reported quarter (Apr 26, 2024), the debt-to-assets ratio returned to 0.00, resembling the earlier quarters in 2024. Overall, the company has maintained a relatively low debt-to-assets ratio in recent quarters, with some variability. It is important to monitor this ratio to assess the company's leverage and financial risk going forward.