Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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Medtronic PLC pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Return on Equity (ROE) since 2005
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
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Medtronic PLC, consolidated balance sheet: assets (quarterly data)
US$ in millions
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).
- Cash and cash equivalents
- Cash and cash equivalents showed considerable volatility over the observed periods. Starting at 5,080 million US dollars in July 2019, the balance declined sharply to a low point of 1,311 million in April 2023, followed by mild fluctuations and a modest recovery up to 2,218 million by April 2025. This trend suggests periods of higher liquidity needs or investments alongside spells of restricting cash holdings.
- Investments
- Investments exhibited a general upward trend initially, from 5,603 million in July 2019, peaking at 9,562 million in January 2021. Afterward, the value declined gradually and stabilized around the 6,500 to 6,700 million range in recent quarters, indicating a shift from accumulation towards stabilization or potential divestments of investment assets.
- Accounts receivable, less allowances and credit losses
- Accounts receivable displayed some fluctuations but generally increased from 5,894 million in July 2019 to 6,515 million by April 2025. Notable declines occurred in April 2020 and thereafter stable recovery was seen, which might indicate impacts of market or operational factors affecting collections and credit terms.
- Inventories
- Inventories consistently increased across the periods from 3,932 million in July 2019 to a peak of 5,754 million in October 2023, then showed a slight decrease to 5,476 million in April 2025. The overall rising inventory trend could reflect business growth or changes in inventory management policies.
- Other current assets
- Other current assets remained relatively stable with minor fluctuations, generally hovering between 2,000 and 3,200 million across the periods. A notable spike occurred around July 2022, reaching above 3,200 million, followed by a slight decline, indicating temporary adjustments in miscellaneous current resources.
- Current assets
- Total current assets generally fluctuated moderately, peaking around 26,036 million in October 2020, then declining to lower 21,675 million levels in April 2023 before recovering partially to 23,814 million by April 2025. This variability aligns closely with movements in cash, investments, receivables, and inventories, highlighting dynamic short-term asset management.
- Property, plant, and equipment, net
- Fixed assets progressively increased from 4,711 million in July 2019 to 6,837 million in April 2025, illustrating continuous investment in physical long-term assets and likely expansion or maintenance of operational capacity.
- Goodwill
- Goodwill remained relatively stable around the 40,000 to 41,500 million range, with some minor fluctuations over the periods. This stability suggests no major impairments or acquisitions significantly altering this intangible asset value.
- Other intangible assets, net
- This category displayed a steady decline from 20,234 million in July 2019 to 11,667 million in April 2025, indicating amortization and no substantial additions to intangible assets such as patents or trademarks.
- Tax assets
- Tax assets demonstrated a general upward trend, starting at 1,545 million in July 2019, increasing to above 4,000 million by April 2025. This increment may reflect greater deferred tax assets or new tax credits recognized on the balance sheet.
- Other assets
- Other noncurrent assets tended to increase, rising from 1,991 million in July 2019 to peaks above 4,000 million around the 2023 period, before declining to 3,585 million by April 2025. This suggests varying levels of miscellaneous asset holdings possibly related to long-term investments or recoverable items.
- Noncurrent assets
- Overall noncurrent assets showed a slight decline from 68,563 million in July 2019 down to a low near 67,460 million in April 2025. The relative stability with minor downward drift might be attributed to amortization, depreciation, and limited growth in fixed and intangible assets.
- Total assets
- Total assets demonstrated modest fluctuations, beginning at 91,268 million in July 2019, peaking near 97,270 million in January 2021, then declining gradually to around 89,973 million in January 2025, followed by a slight recovery to 91,680 million by April 2025. This pattern reflects the sum effects of changes across current and noncurrent assets and indicates relative asset base stability with short-term variability.