Stock Analysis on Net
Stock Analysis on Net

Medtronic PLC (NYSE:MDT)

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Common-Size Balance Sheet: Assets
Quarterly Data

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Medtronic PLC, common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Oct 24, 2025 Jul 25, 2025 Apr 25, 2025 Jan 24, 2025 Oct 25, 2024 Jul 26, 2024 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
Cash and cash equivalents
Investments
Accounts receivable, less allowances and credit losses
Inventories
Other current assets
Current assets
Property, plant, and equipment, net
Goodwill
Other intangible assets, net
Tax assets
Other assets
Noncurrent assets
Total assets

Based on: 10-Q (reporting date: 2025-10-24), 10-Q (reporting date: 2025-07-25), 10-K (reporting date: 2025-04-25), 10-Q (reporting date: 2025-01-24), 10-Q (reporting date: 2024-10-25), 10-Q (reporting date: 2024-07-26), 10-K (reporting date: 2024-04-26), 10-Q (reporting date: 2024-01-26), 10-Q (reporting date: 2023-10-27), 10-Q (reporting date: 2023-07-28), 10-K (reporting date: 2023-04-28), 10-Q (reporting date: 2023-01-27), 10-Q (reporting date: 2022-10-28), 10-Q (reporting date: 2022-07-29), 10-K (reporting date: 2022-04-29), 10-Q (reporting date: 2022-01-28), 10-Q (reporting date: 2021-10-29), 10-Q (reporting date: 2021-07-30), 10-K (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-29), 10-Q (reporting date: 2020-10-30), 10-Q (reporting date: 2020-07-31), 10-K (reporting date: 2020-04-24), 10-Q (reporting date: 2020-01-24), 10-Q (reporting date: 2019-10-25), 10-Q (reporting date: 2019-07-26).

Cash and Cash Equivalents
There is a general declining trend in cash and cash equivalents as a percentage of total assets from mid-2019 through 2025. The ratio starts at 5.57% and drops significantly after mid-2022, reaching levels around 1.4% to 1.8% in the latter periods. This indicates a reduced liquidity buffer over time.
Investments
Investments as a percentage of total assets exhibit moderate fluctuations but maintain a relatively stable range around 6% to 9%. After a peak near 9.83% in early 2021, the percentage stabilizes around 7% to 7.7%, suggesting a consistent allocation to investment assets throughout the period.
Accounts Receivable
The proportion of accounts receivable remains fairly consistent across the timeline, fluctuating slightly between approximately 5.1% and 7.1%. This stable pattern indicates consistent management of receivables relative to total assets.
Inventories
Inventory levels as a percentage of total assets demonstrate a gradual upward trend from around 4.3% in 2019 to about 6.7% by mid-2025. This steady increase may reflect growing inventory holdings or changes in operational requirements.
Other Current Assets
Other current assets show a slight upward trend, rising from about 2.2% to beyond 3.4% of total assets, particularly increasing from 2021 onward. This suggests an increasing share of current assets beyond the traditional categories.
Current Assets
The overall ratio of current assets to total assets remains relatively stable fluctuating mostly in the mid-20% range, with a modest peak near 27% during late 2022 and gradually stabilizing thereafter. This implies steady short-term asset structure.
Property, Plant, and Equipment (PP&E), Net
PP&E as a percentage of total assets shows a slow but consistent increase from about 5.16% to nearly 7.8%. The gradual growth reflects continued investment in fixed assets over the analyzed timeline.
Goodwill
Goodwill maintains the largest share of total assets, fluctuating roughly between 42.9% and 46.2%, with a slight positive tendency in recent years. This indicates significant intangible asset representation within the total asset base.
Other Intangible Assets, Net
Other intangible assets show a clear declining trend from above 22% descending steadily to less than 12% by 2025. This decline indicates amortization or impairment of intangible assets over time.
Tax Assets
Tax assets increase gradually from around 1.7% to above 4% of total assets, indicating a growing proportion of deferred or recoverable taxes relative to the asset base.
Other Assets
Other assets experience a moderate increase from approximately 2.2% to about 4%, with some volatility in the later years. This contributes to the diversification of noncurrent asset composition.
Noncurrent Assets
The percentage of noncurrent assets remains dominant over the entire period, consistently near or above 73%, with a slight upward tendency especially after 2021. This suggests a stable asset base heavily weighted toward long-term assets.
Total Assets
As expected, total assets represent 100% consistently, serving as the denominator for the asset composition ratios examined.