Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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- Income Statement
- Analysis of Profitability Ratios
- Common Stock Valuation Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Current Ratio since 2005
- Price to Earnings (P/E) since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
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Medtronic PLC, consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 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), 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).
The financial statement information reveals fluctuating cash flows over the observed period. Net income demonstrates considerable variability, peaking in the January 2020 and January 2021 quarters, followed by declines, and then exhibiting another peak in January 2024. Operating cash flow generally follows a similar pattern, though with a dampened magnitude, and remains positive throughout the entire period. Investing and financing activities show significant shifts, impacting overall cash positions.
- Operating Activities
- Net cash provided by operating activities generally ranged between approximately US$600 million and US$2,800 million. A substantial increase is observed in the July 2020 quarter, followed by a decline, and then a recovery. The period from October 2022 through January 2024 shows a notable increase in operating cash flow, peaking at US$2,777 million in October 2023. Adjustments to reconcile net income to net cash provided by operating activities are consistently positive, indicating non-cash items contribute significantly to cash generation. Accounts receivable, inventories, and accounts payable exhibit fluctuations, impacting the net change in operating assets and liabilities.
- Investing Activities
- Net cash used in investing activities is consistently negative, reflecting ongoing investments. Significant outflows are associated with purchases of investments, which consistently represent the largest cash drain. Additions to property, plant, and equipment also contribute to cash outflows, though to a lesser extent. Sales and maturities of investments provide a recurring inflow, partially offsetting the outflows. The period from January 2021 to October 2022 shows particularly large negative cash flows from investing activities, exceeding US$1.8 billion in several quarters.
- Financing Activities
- Net cash flow from financing activities is highly variable, swinging between positive and negative values. Issuance of long-term debt and issuance of ordinary shares generally provide cash inflows, while payments on long-term debt, dividends to shareholders, and repurchase of ordinary shares represent cash outflows. The October 2022 quarter shows a substantial positive cash flow from financing activities, largely driven by a significant issuance of long-term debt. Repurchase of ordinary shares consistently represents a substantial cash outflow, particularly in the later periods. A large negative cash flow is observed in the April 2021 quarter, primarily due to a significant decrease in cash from financing activities.
- Key Trends & Observations
- Depreciation and amortization remains relatively stable throughout the period, consistently contributing to operating cash flow. Stock-based compensation also exhibits relative stability. Provision for credit losses shows an increasing trend in later periods. Deferred income taxes demonstrate significant volatility. The effect of exchange rate changes on cash and cash equivalents fluctuates, but generally remains within a manageable range. Overall, the company demonstrates a capacity to generate cash from operations, but this is often offset by substantial investments and financing activities. The significant fluctuations in financing activities suggest active debt and equity management.
The company's cash flow patterns suggest a dynamic financial strategy involving ongoing investment, debt management, and shareholder returns. The variability in net income and cash flows from different activities indicates sensitivity to external factors and internal strategic decisions.