Medtronic PLC (MDT)
Solvency ratios
| Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Apr 26, 2024 | Jan 31, 2024 | Jan 26, 2024 | Oct 31, 2023 | Oct 27, 2023 | Jul 31, 2023 | Jul 28, 2023 | Apr 30, 2023 | Apr 28, 2023 | Jan 31, 2023 | Jan 27, 2023 | Oct 31, 2022 | Oct 28, 2022 | Jul 31, 2022 | Jul 29, 2022 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.24 | 0.00 | 0.00 | 0.00 | 0.23 | 0.00 | 0.22 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.30 | 0.00 | 0.00 | 0.00 | 0.29 | 0.00 | 0.28 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.42 | 0.00 | 0.00 | 0.00 | 0.41 | 0.00 | 0.38 |
| Financial leverage ratio | 1.91 | 1.82 | 1.86 | 1.87 | 1.79 | 1.79 | 1.75 | 1.75 | 1.75 | 1.75 | 1.77 | 1.77 | 1.77 | 1.77 | 1.83 | 1.83 | 1.80 | 1.80 | 1.71 | 1.71 |
Medtronic PLC's solvency ratios indicate the company's ability to meet its long-term financial obligations. The Debt-to-assets ratio fluctuated between 0.00 and 0.24 over the reporting periods, with lower ratios indicating a lower reliance on debt to finance assets. The company maintained a consistent Debt-to-capital ratio of 0.00, implying a minimal use of debt in its capital structure.
The Debt-to-equity ratio also remained at 0.00 across all periods, demonstrating a strong financial position with a low level of debt relative to equity. The Financial leverage ratio ranged from 1.71 to 1.91, showing a relatively stable leverage position with only a slight increase over time.
Overall, Medtronic PLC's solvency ratios suggest a prudent financial strategy with a conservative approach to leverage and debt management, positioning the company well to weather economic uncertainties and maintain financial stability.
Coverage ratios
| Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Apr 26, 2024 | Jan 31, 2024 | Jan 26, 2024 | Oct 31, 2023 | Oct 27, 2023 | Jul 31, 2023 | Jul 28, 2023 | Apr 30, 2023 | Apr 28, 2023 | Jan 31, 2023 | Jan 27, 2023 | Oct 31, 2022 | Oct 28, 2022 | Jul 31, 2022 | Jul 29, 2022 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 6.68 | 8.87 | 7.76 | 7.69 | 7.81 | 7.63 | 8.46 | 8.75 | 8.82 | 9.03 | 9.29 | 9.21 | 9.24 | 9.71 | 10.49 | 9.89 | 9.36 | 9.71 | 9.69 | 10.94 |
Medtronic PLC's interest coverage ratio has been fluctuating over the past few years based on the provided data. The interest coverage ratio measures the company's ability to meet its interest obligations on outstanding debt. A higher interest coverage ratio indicates that the company is more capable of servicing its debt.
The interest coverage ratio for Medtronic PLC ranged between 6.68 and 10.94 from April 30, 2025, to July 29, 2022, respectively. The ratio has shown a general downward trend over the period, suggesting that the company may be facing challenges in meeting its interest payment obligations relative to its earnings.
It is important for investors and creditors to monitor the interest coverage ratio as a declining trend could indicate financial distress and a potential inability to meet debt obligations. Medtronic PLC should focus on improving its interest coverage ratio by generating more income or reducing its interest expenses to ensure financial stability and sustainability in the long run.