Stock Analysis on Net
Stock Analysis on Net

Medtronic PLC (NYSE:MDT)

Common-Size Income Statement
Quarterly Data

Medtronic PLC, common-size consolidated income statement (quarterly data)

Microsoft Excel
3 months ended: 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 Apr 26, 2019 Jan 25, 2019 Oct 26, 2018 Jul 27, 2018 Apr 27, 2018 Jan 26, 2018 Oct 27, 2017 Jul 28, 2017
Net sales 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
Cost of products sold, excluding amortization of intangible assets -34.39 -34.58 -34.12 -34.87 -34.80 -33.42 -34.13 -32.03 -31.68 -31.82 -32.53 -32.39 -33.71 -35.37 -38.50 -37.75 -31.10 -31.07 -31.58 -30.48 -30.02 -29.45 -29.85 -29.41 -29.73 -30.07 -31.79
Gross profit 65.61% 65.42% 65.88% 65.13% 65.20% 66.58% 65.87% 67.97% 68.32% 68.18% 67.47% 67.61% 66.29% 64.63% 61.50% 62.25% 68.90% 68.93% 68.42% 69.52% 69.98% 70.55% 70.15% 70.59% 70.27% 69.93% 68.21%
Research and development expense -8.59 -8.74 -8.67 -7.49 -8.90 -8.91 -9.39 -8.06 -8.60 -8.61 -9.39 -7.72 -7.73 -8.36 -9.54 -9.47 -7.43 -7.83 -7.83 -7.29 -7.43 -7.89 -7.92 -7.27 -7.57 -7.87 -7.42
Selling, general, and administrative expense -33.04 -33.64 -33.93 -30.62 -33.84 -34.50 -34.83 -31.76 -32.99 -33.32 -31.89 -31.68 -32.63 -34.00 -37.14 -39.34 -33.52 -34.00 -33.94 -32.16 -34.40 -34.82 -35.17 -31.34 -33.91 -34.58 -33.63
Amortization of intangible assets -5.18 -5.32 -5.57 -4.95 -5.58 -5.55 -5.74 -5.37 -5.56 -5.49 -5.46 -5.46 -5.83 -5.79 -6.76 -7.32 -5.65 -5.72 -5.87 -5.36 -5.78 -5.95 -6.04 -5.50 -6.26 -6.52 -6.14
Restructuring charges, net -0.25 -0.50 -0.70 -3.43 -0.49 -0.40 -0.19 -0.33 -0.15 -0.13 -0.14 -0.73 -1.07 -1.27 -0.81 -0.52 -0.17 -0.35 -0.63 -1.06 -0.34 -0.32 -0.84 -0.09 -0.09 -0.11 -0.11
Acquisition-related items 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.33 -0.35 -0.10 -0.60
Certain litigation charges 0.00 -0.81 -0.52 0.35 0.00 0.00 0.00 0.00 -0.45 -0.43 -0.33 0.00 -1.57 -1.10 1.35 -0.62 -1.40 -1.57 -0.63 0.00 -0.83 0.00 -1.39 0.00 -0.83 0.00 0.00
Divestiture-related items 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.95 -0.64
Gain on sale of businesses 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 9.89 0.00
Special charge 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -1.13 0.00
Other operating income (expense), net -0.21 0.39 -0.03 -0.69 1.63 1.29 -0.46 -1.79 0.81 -0.27 -9.52 -2.43 -1.04 -1.95 1.75 0.28 0.51 -1.93 0.29 0.25 -0.76 -0.94 -2.04 -2.31 -1.90 -1.57 -0.89
Operating profit 18.33% 16.78% 16.46% 18.31% 18.01% 18.51% 15.26% 20.66% 21.37% 19.92% 10.75% 19.59% 16.42% 12.16% 10.34% 5.27% 21.24% 17.53% 19.82% 23.89% 20.43% 20.64% 16.74% 23.76% 19.35% 26.96% 18.80%
Other non-operating income (expense), net 2.19 1.92 0.99 2.02 1.94 1.44 1.13 0.91 0.86 0.84 1.39 1.26 1.11 0.85 1.26 0.85 1.24 1.40 1.35 0.79 0.94 0.70 2.52 1.31 -1.75 1.42 1.24
Interest expense, net -2.32 -2.25 -1.92 -2.19 -2.16 -1.56 -2.22 -1.77 -1.76 -1.73 -1.72 -1.72 -1.84 -6.15 -2.63 -2.70 -2.02 -2.14 -8.13 -8.81 -3.22 -3.22 -3.28 -3.89 -3.66 -3.87 -3.87
Income before income taxes 18.20% 16.45% 15.53% 18.14% 17.79% 18.39% 14.16% 19.80% 20.47% 19.03% 10.43% 19.13% 15.69% 6.87% 8.97% 3.42% 20.46% 16.79% 13.04% 15.86% 18.16% 18.11% 15.98% 21.18% 13.94% 24.51% 16.17%
Income tax (provision) benefit -1.67 -5.04 -5.18 -4.23 -1.89 -12.66 -1.53 -1.35 -1.37 -2.24 -0.80 -2.44 0.76 -0.41 -1.43 7.24 4.41 1.00 -1.33 -1.35 -1.31 -3.14 -1.39 -3.19 -32.83 4.04 -2.52
Net income (loss) 16.53% 11.41% 10.35% 13.92% 15.91% 5.74% 12.63% 18.46% 19.10% 16.78% 9.63% 16.68% 16.45% 6.46% 7.55% 10.66% 24.87% 17.79% 11.70% 14.51% 16.84% 14.97% 14.59% 17.99% -18.89% 28.55% 13.65%
Net (income) loss attributable to noncontrolling interests -0.19 -0.03 -0.08 -0.11 -0.09 -0.11 -0.03 -0.10 -0.04 -0.08 -0.08 -0.07 -0.12 -0.07 -0.06 0.12 -0.05 -0.09 -0.17 -0.12 -0.03 -0.07 -0.03 -0.06 0.04 0.06 0.09
Net income (loss) attributable to Medtronic 16.34% 11.39% 10.27% 13.81% 15.81% 5.63% 12.60% 18.36% 19.06% 16.71% 9.55% 16.61% 16.33% 6.39% 7.48% 10.77% 24.82% 17.70% 11.53% 14.39% 16.82% 14.90% 14.56% 17.93% -18.85% 28.61% 13.75%

Based on: 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), 10-K (reporting date: 2019-04-26), 10-Q (reporting date: 2019-01-25), 10-Q (reporting date: 2018-10-26), 10-Q (reporting date: 2018-07-27), 10-K (reporting date: 2018-04-27), 10-Q (reporting date: 2018-01-26), 10-Q (reporting date: 2017-10-27), 10-Q (reporting date: 2017-07-28).

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 Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
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 Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
Net income (loss) 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 (loss) attributable to Medtronic as a percentage of net sales increased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.