Medtronic PLC (MDT)

Financial leverage ratio

		Apr 30, 2024	Apr 26, 2024	Apr 30, 2023	Apr 28, 2023	Apr 30, 2022
Total assets	US$ in thousands	89,981,000	89,981,000	90,948,000	90,948,000	90,981,000
Total stockholders’ equity	US$ in thousands	50,214,000	50,214,000	51,483,000	51,483,000	52,551,000
Financial leverage ratio		1.79	1.79	1.77	1.77	1.73

April 30, 2024 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $89,981,000K ÷ $50,214,000K
= 1.79

The financial leverage ratio of Medtronic PLC shows a slight increase over the period from April 30, 2022, to April 30, 2024. The ratio stood at 1.73 on April 30, 2022, and gradually increased to 1.79 by April 30, 2024. This indicates that the company's reliance on debt to finance its operations has slightly increased over the period. It is important for investors and stakeholders to monitor this trend as higher leverage ratios could indicate increased financial risk for the company.