Stock Analysis on Net

Medtronic PLC (NYSE:MDT)

Common-Size Balance Sheet: Assets 
Quarterly Data

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

Microsoft Excel
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 1.40 2.42 1.38 1.55 1.46 1.43 1.79 1.46 1.48 1.70 4.80 5.18 2.38 4.08 3.79 3.16 3.27 3.86 5.22 6.70 6.92 4.57 4.00 4.35 5.57
Investments 7.53 7.36 7.43 7.32 7.28 7.47 7.37 7.13 7.20 7.05 7.03 7.08 7.49 7.54 8.43 8.47 8.27 7.76 9.83 8.19 6.94 7.51 8.53 7.07 6.14
Accounts receivable, less allowances and credit losses 6.88 7.11 6.80 6.95 6.70 6.81 6.57 6.59 6.40 6.59 6.25 6.03 5.90 6.10 5.93 5.99 5.92 5.87 5.36 5.58 5.19 5.12 6.73 6.72 6.46
Inventories 6.47 5.97 6.24 6.08 6.03 5.80 6.30 6.39 6.24 5.82 5.71 5.42 5.35 5.07 4.92 4.74 4.67 4.63 4.63 4.68 4.85 4.66 4.44 4.44 4.31
Other current assets 3.25 3.12 3.19 3.01 2.98 2.87 2.75 2.95 2.77 2.67 3.15 3.53 3.50 2.55 2.31 2.42 2.31 2.10 2.04 2.01 2.20 2.44 2.20 2.30 2.41
Current assets 25.53% 25.98% 25.02% 24.92% 24.45% 24.38% 24.78% 24.51% 24.09% 23.83% 26.94% 27.24% 24.62% 25.34% 25.38% 24.77% 24.44% 24.22% 27.09% 27.15% 26.10% 24.29% 25.90% 24.88% 24.88%
Property, plant, and equipment, net 7.70 7.46 7.33 7.15 7.00 6.81 6.43 6.37 6.24 6.12 5.78 5.68 5.87 5.95 5.72 5.65 5.62 5.61 5.16 5.15 5.20 5.32 5.13 5.22 5.16
Goodwill 46.18 45.52 45.37 45.71 45.78 45.55 45.31 45.31 45.65 45.55 44.16 43.35 44.85 44.52 45.04 45.35 45.45 45.08 43.32 42.98 43.36 43.93 43.19 43.88 43.92
Other intangible assets, net 12.34 12.73 13.54 13.80 14.28 14.70 15.07 15.61 15.90 16.32 16.22 16.79 17.54 17.14 17.51 18.01 18.40 19.06 18.75 19.20 19.88 21.02 20.96 21.72 22.17
Tax assets 4.32 4.41 4.02 3.97 3.96 4.06 3.96 3.81 3.81 3.82 3.57 3.59 3.68 3.74 3.60 3.49 3.47 3.40 3.40 3.31 3.18 3.12 2.45 1.98 1.69
Other assets 3.94 3.91 4.72 4.45 4.53 4.50 4.44 4.40 4.31 4.35 3.34 3.35 3.43 3.31 2.74 2.72 2.62 2.63 2.27 2.20 2.28 2.31 2.37 2.32 2.18
Noncurrent assets 74.47% 74.02% 74.98% 75.08% 75.55% 75.62% 75.22% 75.49% 75.91% 76.17% 73.06% 72.76% 75.38% 74.66% 74.62% 75.23% 75.56% 75.78% 72.91% 72.85% 73.90% 75.71% 74.10% 75.12% 75.12%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 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
Cash and cash equivalents as a percentage of total assets show a declining trend over the observed period. Starting from 5.57% in July 2019, the ratio generally decreases, reaching a low point around 1.4% in July 2025, with some minor fluctuations.
Investments
This category exhibits moderate variability, ranging mainly between about 6.1% and 9.8%. Investments peaked near 9.83% in January 2021 and stabilized around 7.3% to 7.5% towards the end of the period.
Accounts Receivable
Accounts receivable as a percentage of total assets remain relatively stable, fluctuating modestly between approximately 5.1% and 7.1%. The ratio peaks intermittently but does not demonstrate a strong upward or downward trend across the timeline.
Inventories
Inventories show a general upward trend, increasing from 4.31% in July 2019 to about 6.5% by July 2025. There is a steady growth in this category with some minor short-term fluctuations.
Other Current Assets
This category fluctuates in a narrow range, between roughly 2.0% and 3.5%. After a dip around 2021, a gradual rise is noted towards the later periods, peaking near 3.25% in July 2025.
Current Assets
Current assets as a whole maintain a relatively consistent share, generally between 23.8% and 27.2%, with no strong long-term trend. Noticeable dips occur around mid-2023 and late 2023, followed by a mild recovery.
Property, Plant, and Equipment
This non-current asset component steadily increases over time, from around 5.16% to 7.70%. The growth is gradual and consistent, indicating potential ongoing capital investment or asset appreciation.
Goodwill
Goodwill constitutes the largest portion of total assets and is relatively stable, fluctuating between approximately 42.9% and 46.2%. Slight increases are observed in some periods, but overall, it remains the dominant asset component.
Other Intangible Assets
There is a clear declining trend in other intangible assets, dropping from 22.17% to around 12.34%. This significant decrease suggests amortization, impairment, or divestiture activities related to intangible assets.
Tax Assets
Tax assets show a modest upward trend, increasing from 1.69% to about 4.32%. The trend indicates growing recognition or recovery of tax-related assets over the period.
Other Assets
Other assets increase notably, rising from approximately 2.18% to peak near 4.72%, albeit showing a decline towards the end of the period. This suggests increased diversification or reclassification within asset categories.
Noncurrent Assets
Noncurrent assets remain the majority component of total assets with minor fluctuations, generally between 72.8% and 76.2%. The composition of noncurrent assets sees slight shifts with increases in property, plant, and equipment and stable goodwill, offset by declining intangible assets.
Total Assets
Total assets are consistently used as the base (100%) for ratio calculations, facilitating relative comparisons among asset categories.