Medtronic PLC (MDT)

Debt-to-capital 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 stockholders’ equity	US$ in thousands	50,214,000	51,792,000	51,460,000	51,178,000	51,483,000	51,441,000	51,880,000	52,672,000	52,551,000	52,542,000	51,991,000	51,486,000	51,428,000	50,758,000	50,164,000	50,296,000	50,737,000	51,808,000	50,578,000	50,363,000
Debt-to-capital ratio		0.00	0.00	0.00	0.00	0.30	0.00	0.29	0.28	0.30	0.34	0.35	0.36	0.36	0.38	0.37	0.36	0.30	0.35	0.35	0.36

April 26, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $50,214,000K)
= 0.00

The debt-to-capital ratio for Medtronic PLC has varied over the past few years. From July 2019 to January 2020, the ratio ranged between 0.30 and 0.35, indicating a stable level of debt relative to capital during that period. However, in April 2020, there was a slight increase in the ratio to 0.36, which was maintained until October 2020.

From January 2021 to April 2021, there was another uptick in the debt-to-capital ratio to 0.38, which then stabilized around 0.36 from July 2021 to January 2022. Subsequently, the ratio decreased slightly to 0.34 in April 2022 and then fluctuated around 0.30 from July 2022 to January 2024.

Notably, in April 2023, there was a significant spike in the debt-to-capital ratio to 0.30, which then rose to 0.35 by October 2023, before decreasing to 0.29 in January 2024. Finally, the ratio dropped to 0.00 in April 2024, suggesting a significant reduction in debt relative to capital.

Overall, the trend in the debt-to-capital ratio for Medtronic PLC shows fluctuations over the analyzed periods, with some increases and decreases in the company's debt burden relative to its capital structure. It is essential for stakeholders to closely monitor these fluctuations to assess the company's financial leverage and risk profile.