Medtronic PLC (MDT)
Solvency ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| 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 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.42 | 0.00 | 0.41 | 0.38 | 0.44 | 0.50 | 0.54 | 0.57 | 0.56 | 0.61 | 0.60 | 0.57 | 0.44 | 0.53 | 0.54 | 0.55 |
| Financial leverage ratio | 1.79 | 1.75 | 1.75 | 1.77 | 1.77 | 1.83 | 1.80 | 1.71 | 1.73 | 1.75 | 1.76 | 1.78 | 1.81 | 1.92 | 1.91 | 1.87 | 1.79 | 1.79 | 1.80 | 1.81 |
From the provided data on the solvency ratios of Medtronic PLC, we can observe a consistent trend of low debt levels and strong solvency positions over the periods. The debt-to-assets ratio has been consistently low, primarily ranging from 0.22 to 0.32. This indicates that the company finances a minimal portion of its assets through debt.
Similarly, the debt-to-capital ratio and debt-to-equity ratio also reflect low debt levels, with values mostly remaining below 0.40. These ratios show the proportion of debt in the capital structure and equity of the company, respectively. The low levels indicate a strong solvency position and lower financial risk for Medtronic PLC.
Analyzing the financial leverage ratio, we can see that it has generally been stable around 1.75 to 1.90, indicating that the company relies more on equity financing rather than debt to fund its operations and investments. A lower financial leverage ratio suggests lower financial risk and a more conservative capital structure.
Overall, based on the solvency ratios, Medtronic PLC appears to have a healthy financial position with low debt levels, strong solvency, and a conservative capital structure. Investors and stakeholders can be reassured by the company's ability to meet its financial obligations and weather potential economic downturns.
Coverage ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 7.70 | 8.82 | 8.93 | 9.85 | 9.39 | 10.10 | 10.98 | 10.84 | 10.94 | 10.89 | 10.11 | 5.62 | 5.18 | 3.67 | 4.01 | 6.59 | 4.70 | 4.10 | 3.82 | 3.74 |
The interest coverage ratio for Medtronic PLC has shown overall stability and a positive trend over the past two years. The company's interest coverage ratio has consistently remained above 1, indicating that it has sufficient earnings to cover its interest expenses.
From the data provided, we can see that the interest coverage ratio has been relatively high and consistent, with values ranging from 3.67 to 10.98 over the past two years. This stable and generally increasing trend suggests that Medtronic PLC has been effectively managing its interest payments in relation to its operating income.
A higher interest coverage ratio indicates that the company is more capable of covering its interest payments using its operating income. This is a positive signal for investors and creditors, as it implies a lower risk of default due to an inability to meet interest obligations.
However, it is worth noting that there have been minor fluctuations in the interest coverage ratio over the period, with a slight dip observed in the most recent quarter. This may warrant further investigation to understand the underlying reasons behind this change and assess the potential impact on the company's financial health.
Overall, based on the data provided, Medtronic PLC's interest coverage ratio appears to be strong and indicative of the company's ability to meet its interest obligations comfortably.