Stock Analysis on Net
Stock Analysis on Net

Medtronic PLC (NYSE:MDT)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

Medtronic PLC, common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Jul 31, 2026 Apr 24, 2026 Jan 23, 2026 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
Current debt obligations 2.72 1.92 0.21 1.55 2.67 3.13 2.91 4.13 1.73 1.21 1.13 1.49 0.57 0.02 6.29 6.29 6.37 4.11 0.94 0.02 0.01 0.01 3.93 4.21 6.20
Accounts payable 2.89 2.84 2.81 2.83 2.81 2.67 2.54 2.64 2.55 2.68 2.19 2.41 2.47 2.93 2.35 2.36 2.42 2.50 2.16 2.09 2.03 2.26 1.87 1.98 1.83
Accrued compensation 2.04 2.88 2.82 2.33 2.22 2.74 2.54 2.10 1.98 2.64 2.39 1.95 1.87 2.14 2.13 1.85 1.97 2.33 2.34 2.11 2.07 2.67 2.57 2.22 1.93
Accrued income taxes 1.13 0.98 0.71 0.71 1.03 1.48 1.25 1.05 1.18 1.48 1.22 1.21 1.12 0.92 0.70 0.70 0.61 0.77 0.42 0.51 0.37 0.47 0.41 0.42 0.42
Other accrued expenses 3.86 3.91 3.83 3.45 3.95 4.02 3.92 3.62 4.02 3.98 3.84 3.66 3.94 3.94 3.86 4.32 4.25 3.90 3.86 3.78 3.98 3.73 4.11 3.74 3.55
Current liabilities 12.65% 12.53% 10.38% 10.88% 12.67% 14.05% 13.16% 13.54% 11.46% 11.99% 10.78% 10.72% 9.97% 9.95% 15.32% 15.51% 15.62% 13.62% 9.72% 8.50% 8.46% 9.14% 12.89% 12.59% 13.94%
Long-term debt 27.45 28.13 30.47 30.30 28.78 27.97 26.66 27.33 29.32 26.60 26.59 26.35 26.95 26.77 23.59 22.26 19.44 22.39 26.46 27.91 28.28 28.34 27.25 27.08 24.35
Accrued compensation and retirement benefits 1.25 1.28 1.30 1.30 1.30 1.26 1.18 1.20 1.23 1.22 1.15 1.13 1.20 1.20 1.17 1.12 1.23 1.22 1.49 1.64 1.66 1.67 2.10 2.11 2.09
Accrued income taxes 1.63 1.63 1.73 1.68 1.89 1.72 1.65 1.59 2.14 2.07 2.00 1.97 2.65 2.59 2.45 2.80 2.34 2.29 2.30 2.30 2.46 2.42 2.33 2.68 2.90
Deferred tax liabilities 0.37 0.39 0.40 0.42 0.46 0.44 0.50 0.53 0.55 0.57 0.68 0.76 0.76 0.78 0.79 0.93 1.00 0.97 1.05 1.12 1.15 1.10 1.27 1.30 1.31
Other liabilities 2.15 2.21 1.94 1.93 1.99 1.93 1.70 1.70 1.64 1.52 1.55 1.73 1.89 1.90 1.84 1.54 1.60 1.55 1.55 1.69 1.72 1.89 1.82 1.76 1.70
Noncurrent liabilities 32.86% 33.64% 35.85% 35.64% 34.42% 33.32% 31.70% 32.35% 34.88% 31.98% 31.98% 31.95% 33.45% 33.24% 29.84% 28.66% 25.60% 28.43% 32.86% 34.65% 35.26% 35.42% 34.76% 34.94% 32.35%
Total liabilities 45.50% 46.18% 46.23% 46.51% 47.09% 47.36% 44.86% 45.90% 46.34% 43.97% 42.76% 42.67% 43.41% 43.19% 45.17% 44.17% 41.23% 42.05% 42.58% 43.15% 43.72% 44.56% 47.64% 47.53% 46.28%
Ordinary shares, par value $0.0001 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
Additional paid-in capital 22.30 22.49 22.97 22.83 22.96 22.72 23.24 23.13 23.19 25.70 27.07 27.28 27.09 27.04 26.04 26.21 27.06 27.00 28.12 28.40 28.52 28.27 27.41 27.62 27.97
Retained earnings 35.57 35.08 35.31 35.11 34.74 34.33 34.81 34.34 34.04 33.79 33.75 33.59 33.34 33.42 31.99 31.96 33.67 33.25 32.25 31.58 31.06 30.72 28.80 28.71 29.62
Accumulated other comprehensive loss -4.03 -4.41 -4.73 -4.68 -5.06 -4.67 -3.16 -3.61 -3.80 -3.69 -3.81 -3.75 -4.05 -3.85 -3.39 -2.53 -2.16 -2.49 -3.14 -3.32 -3.50 -3.74 -4.03 -4.01 -4.03
Shareholders’ equity 53.84% 53.17% 53.54% 53.26% 52.65% 52.38% 54.89% 53.86% 53.42% 55.81% 57.02% 57.12% 56.38% 56.61% 54.65% 55.64% 58.58% 57.76% 57.23% 56.66% 56.08% 55.25% 52.18% 52.32% 53.56%
Noncontrolling interests 0.66 0.65 0.23 0.22 0.26 0.25 0.25 0.25 0.24 0.23 0.22 0.21 0.21 0.20 0.19 0.19 0.19 0.19 0.19 0.18 0.19 0.19 0.17 0.16 0.16
Total equity 54.50% 53.82% 53.77% 53.49% 52.91% 52.64% 55.14% 54.10% 53.66% 56.03% 57.24% 57.33% 56.59% 56.81% 54.83% 55.83% 58.77% 57.95% 57.42% 56.85% 56.28% 55.44% 52.36% 52.47% 53.72%
Total liabilities and equity 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: 2026-07-31), 10-K (reporting date: 2026-04-24), 10-Q (reporting date: 2026-01-23), 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).

The capital structure exhibits a consistent balance between liabilities and equity, with total liabilities generally fluctuating between 41% and 47% of the total balance sheet, while total equity typically ranges from 52% to 58%. A notable peak in equity occurred in July 2022 at 58.77%, followed by a gradual moderation toward 54.50% by July 2026.

Debt Obligations and Liquidity
Current debt obligations demonstrate significant volatility, characterized by cyclical spikes and troughs. Values peaked at 6.37% in July 2022 and dropped to near-zero levels in early 2021 and mid-2023, suggesting a tactical approach to short-term borrowing and repayment. Long-term debt represents a more substantial and stable portion of the financing mix, though it underwent a period of contraction between 2021 and mid-2022, reaching a low of 19.44% before trending upward to peak at 30.47% in January 2025.
Current Liabilities Trends
Total current liabilities fluctuated between 8.46% and 15.62%, with a peak in July 2022. Accounts payable showed a steady, gradual increase from 1.83% in July 2020 to 2.89% by July 2026. Other accrued expenses remained relatively stable, generally oscillating between 3.5% and 4.3% of the total liabilities and equity.
Equity Composition and Internal Funding
A clear divergence is observed between retained earnings and additional paid-in capital. Retained earnings grew steadily from 29.62% in July 2020 to 35.57% in July 2026, indicating a strong trend of profit retention and internal capital generation. Conversely, additional paid-in capital declined from 27.97% to 22.30% over the same period, suggesting that internally generated funds are becoming a more dominant component of equity than contributed capital.
Deferred Obligations and Comprehensive Loss
Deferred tax liabilities exhibited a consistent downward trend, decreasing from 1.31% in July 2020 to 0.37% in July 2026. Accumulated other comprehensive loss remained negative throughout the period, with a widening loss that peaked at -5.06% in January 2025 before recovering to -4.03% by July 2026.

Overall, the financial position is characterized by a shift toward higher retained earnings and a recent increase in long-term leverage, while short-term debt is managed with high frequency and volatility.

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