Medtronic PLC (MDT)

Debt-to-equity 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 stockholders’ equity	US$ in thousands	50,214,000	50,214,000	51,483,000	51,483,000	52,551,000
Debt-to-equity ratio		0.00	0.00	0.00	0.42	0.00

April 30, 2024 calculation

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

The debt-to-equity ratio of Medtronic PLC, based on the provided data, has shown fluctuations over the period under review. As of April 30, 2022, the company had a debt-to-equity ratio of 0.00, indicating that there was no debt recorded in relation to equity at that time.

By April 28, 2023, the ratio increased to 0.42, suggesting that the company had taken on debt relative to its equity. However, this ratio decreased back to 0.00 by April 30, 2023, indicating a reduction in debt levels or an increase in equity.

Subsequently, for both April 26, 2024, and April 30, 2024, the debt-to-equity ratio remained at 0.00, signifying minimal to no debt in relation to equity during these periods.

Overall, the fluctuations in the debt-to-equity ratio reflect changes in the company's capital structure and its use of debt financing over time. It is important to consider the reasons behind these changes and assess the impact on the company's financial position and risk profile.