Analysis of Geographic Areas
Medtronic PLC operates in 3 regions: Ireland; United States; and Rest of world.
Area Asset Turnover
Medtronic PLC, asset turnover by geographic area
| Apr 28, 2023 | Apr 29, 2022 | Apr 30, 2021 | Apr 24, 2020 | Apr 26, 2019 | Apr 27, 2018 | |
|---|---|---|---|---|---|---|
| Ireland | 0.53 | 0.57 | 0.59 | 0.52 | 0.58 | 0.57 |
| United States | 4.01 | 4.22 | 4.21 | 4.31 | 5.19 | 5.42 |
| Rest of world | 11.33 | 10.92 | 10.63 | 11.54 | 10.22 | 9.16 |
Based on: 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27).
| Area activity ratio | Geographic area | The company |
|---|---|---|
| Area asset turnover | Ireland | Ireland area asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| United States | United States area asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. | |
| Rest of world | Rest of world area asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Area Asset Turnover: Ireland
Medtronic PLC; Ireland; area asset turnover calculation
| Apr 28, 2023 | Apr 29, 2022 | Apr 30, 2021 | Apr 24, 2020 | Apr 26, 2019 | Apr 27, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net sales | 98) | 101) | 100) | 85) | 91) | 85) |
| Property, plant, and equipment, net | 184) | 177) | 170) | 164) | 156) | 149) |
| Area Activity Ratio | ||||||
| Area asset turnover1 | 0.53 | 0.57 | 0.59 | 0.52 | 0.58 | 0.57 |
Based on: 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27).
1 2023 Calculation
Area asset turnover = Net sales ÷ Property, plant, and equipment, net
= 98 ÷ 184 = 0.53
| Area activity ratio | Geographic area | The company |
|---|---|---|
| Area asset turnover | Ireland | Ireland area asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Area Asset Turnover: United States
Medtronic PLC; United States; area asset turnover calculation
| Apr 28, 2023 | Apr 29, 2022 | Apr 30, 2021 | Apr 24, 2020 | Apr 26, 2019 | Apr 27, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net sales | 16,373) | 16,135) | 15,526) | 14,919) | 16,194) | 15,875) |
| Property, plant, and equipment, net | 4,083) | 3,821) | 3,688) | 3,459) | 3,122) | 2,927) |
| Area Activity Ratio | ||||||
| Area asset turnover1 | 4.01 | 4.22 | 4.21 | 4.31 | 5.19 | 5.42 |
Based on: 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27).
1 2023 Calculation
Area asset turnover = Net sales ÷ Property, plant, and equipment, net
= 16,373 ÷ 4,083 = 4.01
| Area activity ratio | Geographic area | The company |
|---|---|---|
| Area asset turnover | United States | United States area asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Area Asset Turnover: Rest of world
Medtronic PLC; Rest of world; area asset turnover calculation
| Apr 28, 2023 | Apr 29, 2022 | Apr 30, 2021 | Apr 24, 2020 | Apr 26, 2019 | Apr 27, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net sales | 14,756) | 15,450) | 14,491) | 13,909) | 14,272) | 13,993) |
| Property, plant, and equipment, net | 1,302) | 1,415) | 1,363) | 1,205) | 1,397) | 1,528) |
| Area Activity Ratio | ||||||
| Area asset turnover1 | 11.33 | 10.92 | 10.63 | 11.54 | 10.22 | 9.16 |
Based on: 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27).
1 2023 Calculation
Area asset turnover = Net sales ÷ Property, plant, and equipment, net
= 14,756 ÷ 1,302 = 11.33
| Area activity ratio | Geographic area | The company |
|---|---|---|
| Area asset turnover | Rest of world | Rest of world area asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Net sales
Medtronic PLC, net sales by geographic area
US$ in millions
| Apr 28, 2023 | Apr 29, 2022 | Apr 30, 2021 | Apr 24, 2020 | Apr 26, 2019 | Apr 27, 2018 | |
|---|---|---|---|---|---|---|
| Ireland | 98) | 101) | 100) | 85) | 91) | 85) |
| United States | 16,373) | 16,135) | 15,526) | 14,919) | 16,194) | 15,875) |
| Rest of world | 14,756) | 15,450) | 14,491) | 13,909) | 14,272) | 13,993) |
| Other countries, excluding Ireland | 31,129) | 31,585) | 30,017) | 28,828) | 30,466) | 29,868) |
| Total | 31,227) | 31,686) | 30,117) | 28,913) | 30,557) | 29,953) |
Based on: 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27).
Property, plant, and equipment, net
Medtronic PLC, property, plant, and equipment, net by geographic area
US$ in millions
| Apr 28, 2023 | Apr 29, 2022 | Apr 30, 2021 | Apr 24, 2020 | Apr 26, 2019 | Apr 27, 2018 | |
|---|---|---|---|---|---|---|
| Ireland | 184) | 177) | 170) | 164) | 156) | 149) |
| United States | 4,083) | 3,821) | 3,688) | 3,459) | 3,122) | 2,927) |
| Rest of world | 1,302) | 1,415) | 1,363) | 1,205) | 1,397) | 1,528) |
| Other countries, excluding Ireland | 5,385) | 5,236) | 5,051) | 4,664) | 4,519) | 4,455) |
| Total | 5,569) | 5,413) | 5,221) | 4,828) | 4,675) | 4,604) |
Based on: 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27).