Stock Analysis on Net
Stock Analysis on Net

Medtronic PLC (NYSE:MDT)

Common-Size Income Statement

Medtronic PLC, common-size consolidated income statement

Microsoft Excel
12 months ended: Apr 28, 2023 Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019 Apr 27, 2018
Net sales 100.00 100.00 100.00 100.00 100.00 100.00
Cost of products sold, excluding amortization of intangible assets -34.33 -32.02 -34.81 -32.59 -29.96 -30.23
Gross profit 65.67% 67.98% 65.19% 67.41% 70.04% 69.77%
Research and development expense -8.63 -8.67 -8.28 -8.06 -7.63 -7.52
Selling, general, and administrative expense -33.35 -32.48 -33.70 -34.96 -34.09 -33.30
Amortization of intangible assets -5.44 -5.47 -5.92 -6.07 -5.77 -6.09
Restructuring charges, net -1.20 -0.19 -0.97 -0.41 -0.65 -0.10
Acquisition-related items 0.00 0.00 0.00 0.00 0.00 -0.35
Certain litigation charges, net 0.10 -0.30 -0.39 -1.08 -0.54 -0.20
Divestiture-related items 0.00 0.00 0.00 0.00 0.00 -0.38
Gain on sale of businesses 0.00 0.00 0.00 0.00 0.00 2.33
Special charge, net 0.00 0.00 0.00 0.00 0.00 -0.27
Other operating income (expense), net 0.42 -2.72 -1.05 -0.25 -0.84 -1.69
Operating profit 17.56% 18.15% 14.89% 16.57% 20.51% 22.20%
Other non-operating income, net 1.65 1.00 1.12 1.23 1.22 0.57
Interest expense, net -2.04 -1.75 -3.07 -3.78 -4.73 -3.83
Income before income taxes 17.18% 17.41% 12.93% 14.02% 17.01% 18.95%
Income tax (provision) benefit -5.06 -1.44 -0.88 2.60 -1.79 -8.61
Net income 12.12% 15.98% 12.05% 16.62% 15.22% 10.33%
Net (income) loss attributable to noncontrolling interests -0.08 -0.07 -0.08 -0.06 -0.06 0.03
Net income attributable to Medtronic 12.03% 15.90% 11.97% 16.56% 15.16% 10.36%

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).

Income statement item Description The company
Operating profit The net result for the period of deducting operating expenses from operating revenues. Medtronic PLC operating profit as a percentage of net sales increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Medtronic PLC income before income taxes as a percentage of net sales increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.
Net income attributable to Medtronic The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Medtronic PLC net income attributable to Medtronic as a percentage of net sales increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.