Stock Analysis on Net

Medtronic PLC (NYSE:MDT)

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

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

Microsoft Excel
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
Current debt obligations
Accounts payable
Accrued compensation
Accrued income taxes
Other accrued expenses
Current liabilities
Long-term debt
Accrued compensation and retirement benefits
Accrued income taxes
Deferred tax liabilities
Other liabilities
Noncurrent liabilities
Total liabilities
Ordinary shares, par value $0.0001
Additional paid-in capital
Retained earnings
Accumulated other comprehensive loss
Shareholders’ equity
Noncontrolling interests
Total equity
Total liabilities and equity

Based on: 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).


Current debt obligations
The proportion of current debt obligations relative to total liabilities and equity exhibits notable fluctuations. It increased sharply from 0.91% in January 2020 to a peak of 6.37% in July 2022, followed by a significant decline to as low as 0.01-0.02% during April 2021 and April 2023. In recent periods leading through 2025, current debt obligations have stabilized at a moderate range between 2.9% and 4.1%.
Accounts payable
Accounts payable remain relatively stable throughout the entire period, oscillating mildly between approximately 1.8% and 2.7% of total liabilities and equity. No significant upward or downward trend is present, indicating consistent short-term payment obligations.
Accrued compensation
Accrued compensation as a percentage of total liabilities and equity shows some variability but remains generally within the 1.85% to 2.74% range. Peaks occurred around April 2020 and January 2025, with somewhat lower ratios observed in late 2022 and mid-2023.
Accrued income taxes
Accrued income taxes show a gradual weakening in earlier periods (dropping from 0.55% to a low of about 0.37% in July 2021), then a progressive increase from mid-2021 onward, reaching up to 1.48% by April 2025. This suggests increasing tax liabilities or accruals as a share of the financial structure.
Other accrued expenses
These expenses maintain a stable profile ranging between approximately 3.3% and 4.3%. Occasional minor increases and declines are observed, but overall, there is steady maintenance of other accrued expense levels relative to total liabilities and equity.
Current liabilities
Current liabilities as a proportion of total liabilities and equity exhibit significant volatility. Peaks are evident in mid-2020 through mid-2022 where levels range between roughly 13.6% and 15.6%, followed by declines to around 8-10% in several interim quarters. The latter part of the timeline shows a trend back toward higher current liabilities, reaching above 14% by April 2025.
Long-term debt
Long-term debt maintains a dominant and relatively stable proportion of total liabilities and equity, predominantly ranging from 22% to 29%. There is a moderate declining trend between 2019 and mid-2022, reaching a low near 19%, followed by a gradual increase again to nearly 28% by the end of the period.
Accrued compensation and retirement benefits
This liability category consistently hovers around 1.1% to 2.1%. Notable decreases are seen from early 2020 toward mid-2022, stabilizing closer to approximately 1.2% in the latest quarters.
Accrued income taxes (long-term)
Non-current accrued income taxes exhibit a declining trajectory from around 3.15% in 2019 down to 1.59%-1.72% in 2024-2025, indicating reduced long-term tax accruals relative to the total financial base.
Deferred tax liabilities
Deferred tax liabilities show a steady decrease from just above 1.4% early in the timeline down to below 0.5% by 2025, reflecting a diminished deferred tax burden over time.
Other liabilities
Other liabilities are stable, fluctuating moderately between 1.5% and 1.9%, with no significant trend upward or downward.
Noncurrent liabilities (total)
Noncurrent liabilities gradually decline from about 35% in 2019 toward a low near 25.6% in mid-2022 before increasing again to around 33% by early 2025. This pattern suggests restructuring or repayments followed by new or increased long-term obligations emerging.
Total liabilities
Total liabilities as a percentage of total liabilities and equity fluctuate modestly in a range from about 42% to 47.5%. The lowest points appear around mid-2022, while peaks occur in mid-2020 and early 2025, indicating slight cyclical variations in overall liability exposure.
Additional paid-in capital
This shareholder equity component consistently decreases over the observed periods, falling from 29% in 2019 to approximately 22.7% by 2025, signaling either share repurchases, capital return, or other equity adjustments reducing this balance.
Retained earnings
Retained earnings show a generally positive trend, rising from about 29% at the start toward a peak above 34% in early 2025. This supports the notion of accumulated profitability or earnings retention increasing the equity base.
Accumulated other comprehensive loss
The accumulated other comprehensive loss category exhibits notable volatility and a worsening trend during 2019 through early 2023, declining from about -2.7% to approximately -4.7%. Some recovery and fluctuations occur thereafter but losses remain elevated relative to the start period.
Shareholders’ equity (total)
The total shareholders' equity percentage declines slightly from around 55% in 2019 to approximately 52% by early 2025 with some variability in-between, mainly driven by reductions in paid-in capital and fluctuations in accumulated losses despite increases in retained earnings.
Noncontrolling interests
Noncontrolling interests show a gradual increase from around 0.15% to approximately 0.25%, suggesting a growing minority stake component within the equity section.
Total equity
Total equity as a share of total liabilities and equity decreases from roughly 55.3% to about 52.6% over the period. This shift reflects a modest decline in the equity portion relative to total capitalization, aligned with the observed changes in paid-in capital and accumulated comprehensive loss.
Total liabilities and equity
The sum consistently equals 100%, confirming the balanced nature of the reported financial positions.