Stock Analysis on Net
Stock Analysis on Net

Medtronic PLC (NYSE:MDT)

Common-Size Balance Sheet: Assets 

Medtronic PLC, common-size consolidated balance sheet: assets

Microsoft Excel
Apr 25, 2025 Apr 26, 2024 Apr 28, 2023 Apr 29, 2022 Apr 30, 2021 Apr 24, 2020
Cash and cash equivalents 2.42 1.43 1.70 4.08 3.86 4.57
Investments 7.36 7.47 7.05 7.54 7.76 7.51
Accounts receivable, less allowances and credit losses 7.11 6.81 6.59 6.10 5.87 5.12
Inventories 5.97 5.80 5.82 5.07 4.63 4.66
Other current assets 3.12 2.87 2.67 2.55 2.10 2.44
Current assets 25.98% 24.38% 23.83% 25.34% 24.22% 24.29%
Property, plant, and equipment, net 7.46 6.81 6.12 5.95 5.61 5.32
Goodwill 45.52 45.55 45.55 44.52 45.08 43.93
Other intangible assets, net 12.73 14.70 16.32 17.14 19.06 21.02
Tax assets 4.41 4.06 3.82 3.74 3.40 3.12
Other assets 3.91 4.50 4.35 3.31 2.63 2.31
Noncurrent assets 74.02% 75.62% 76.17% 74.66% 75.78% 75.71%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2025-04-25), 10-K (reporting date: 2024-04-26), 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).

Cash and Cash Equivalents
The proportion of cash and cash equivalents relative to total assets shows a general declining trend from 4.57% in April 2020 to a low of 1.43% in April 2024. A slight recovery is observed in April 2025 at 2.42%, indicating a modest increase in liquidity after a multi-year decrease.
Investments
This category remains relatively stable over the analyzed periods, fluctuating narrowly between 7.36% and 7.76% of total assets. There is no significant directional trend, suggesting consistent allocation to investments.
Accounts Receivable, Net
Accounts receivable as a percentage of total assets demonstrates a steady upward trend from 5.12% in April 2020 to 7.11% in April 2025. This steady increase may reflect growth in sales on credit or changes in receivables collection policies.
Inventories
Inventory values as a proportion of total assets rise gradually from 4.66% in April 2020 to 5.97% in April 2025. The increase is relatively consistent and indicates incremental buildup or increased investment in stock over the years.
Other Current Assets
The share of other current assets shows a rising trend from 2.44% in April 2020 to 3.12% in April 2025. This growth is steady, indicating a gradual increase in miscellaneous current asset categories.
Current Assets Total
Overall current assets maintain a fairly stable proportion of total assets with minor fluctuations, ranging from 24.29% in April 2020 to 25.98% in April 2025. This stability denotes balanced management of short-term assets.
Property, Plant, and Equipment (Net)
The net value of property, plant, and equipment increases consistently from 5.32% of total assets in April 2020 to 7.46% in April 2025. This indicates ongoing capital investment and growth in fixed asset base over time.
Goodwill
Goodwill remains the largest single asset category, stable around 44% to 45.5% of total assets across the periods. This stability suggests no significant impairments or acquisitions affecting goodwill valuation.
Other Intangible Assets (Net)
This category experiences a marked decline from 21.02% in April 2020 to 12.73% in April 2025. The downward trajectory suggests amortization or write-downs of intangible assets over the period.
Tax Assets
Tax assets increase steadily from 3.12% in April 2020 to 4.41% in April 2025. This growth indicates a rising proportion of tax-related receivables or credits relative to total assets.
Other Assets
Other assets expand from 2.31% in April 2020 to a peak of 4.5% in April 2024, before decreasing slightly to 3.91% in April 2025. This pattern points to variability in miscellaneous long-term assets.
Noncurrent Assets Total
Noncurrent assets as a whole exhibit minor variability but remain relatively stable, fluctuating between approximately 74% and 76% of total assets. The proportion peaked around April 2023 at 76.17%.