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)

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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 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 2.84 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 2.88 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 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 3.91 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 12.53% 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 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 1.28 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 1.73 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 0.39 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 2.21 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 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 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
Additional paid-in capital 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 35.08 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 -4.41 -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 53.17% 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 0.65 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 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%

Based on: 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 relatively stable balance between total liabilities and total equity over the observed period. Total liabilities generally fluctuate between 41% and 48% of the total balance sheet, while total equity maintains a corresponding range of 52% to 59%. A period of peak equity concentration occurred between April 2021 and July 2022, followed by a gradual return toward a liability-to-equity ratio closer to the initial 2020 levels.

Long-Term Debt and Noncurrent Liabilities
Long-term debt represents the most significant portion of the liability profile. A notable volatility is observed, with a low of 19.44% in July 2022 followed by a steady increase to a peak of 30.47% by January 2026. This trend indicates an increasing reliance on long-term borrowing to finance operations or assets in the latter half of the period.
Current Liabilities and Short-Term Obligations
Current liabilities demonstrate significant quarterly fluctuations, ranging from a low of 8.46% to a high of 15.62%. This volatility is primarily driven by current debt obligations, which frequently drop to near-zero levels before spiking, suggesting a strategic pattern of short-term debt repayment and periodic refinancing.
Equity Composition and Retained Earnings
There is a clear shift in the composition of shareholders' equity. Retained earnings show a consistent upward trend, growing from 29.62% in July 2020 to 35.08% by April 2026. Conversely, additional paid-in capital has declined from 27.97% to 22.49%. This pattern indicates that the company is increasingly funding its equity base through organic earnings rather than external capital contributions.
Other Comprehensive Loss and Noncontrolling Interests
Accumulated other comprehensive loss remains negative throughout the period, with a general deepening of the loss from -4.03% in July 2020 to -4.41% by April 2026, despite a temporary improvement around July 2022. Noncontrolling interests remain a marginal component of the total balance sheet, generally staying below 0.30%, with a slight increase to 0.65% in the final period.
Accrued Expenses and Tax Liabilities
Accrued compensation and other accrued expenses remain relatively stable as a percentage of the total balance sheet. However, accrued income taxes show an increasing trend in the short term, rising from 0.42% in July 2020 to a peak of 1.48% in April 2021 and April 2025, before moderating.

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