Medtronic PLC (MDT)

Financial leverage ratio

		Apr 26, 2024	Apr 28, 2023	Apr 29, 2022	Apr 30, 2021	Apr 24, 2020
Total assets	US$ in thousands	89,981,000	90,948,000	90,981,000	93,083,000	90,689,000
Total stockholders’ equity	US$ in thousands	50,214,000	51,483,000	52,551,000	51,428,000	50,737,000
Financial leverage ratio		1.79	1.77	1.73	1.81	1.79

April 26, 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 has shown fluctuations over the past five years. The ratio indicates the proportion of the company's debt relative to its equity. The trend shows some variability, with the ratio ranging from 1.73 to 1.81 over the period. In 2021, the ratio was at its highest point of 1.81, suggesting a relatively higher level of debt compared to equity. In comparison, the ratio in 2022 dropped to 1.73, indicating a lower proportion of debt in the capital structure. However, in the most recent year, the ratio increased again to 1.79, similar to the starting point of the period. Overall, the financial leverage ratio of Medtronic PLC has remained around 1.79 on average, indicating a consistent balance between debt and equity in the company's capital structure.