Return on Assets (ROA)
since 2005
Calculation
Medtronic PLC, ROA, long-term trends, calculation
| ROA | = | 100 | × | Net income attributable to Medtronic1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Apr 24, 2026 | 5.16% | = | 100 | × | 4,801) | ÷ | 93,028) |
| Apr 25, 2025 | 5.09% | = | 100 | × | 4,662) | ÷ | 91,680) |
| Apr 26, 2024 | 4.09% | = | 100 | × | 3,676) | ÷ | 89,981) |
| Apr 28, 2023 | 4.13% | = | 100 | × | 3,758) | ÷ | 90,948) |
| Apr 29, 2022 | 5.54% | = | 100 | × | 5,039) | ÷ | 90,981) |
| Apr 30, 2021 | 3.87% | = | 100 | × | 3,606) | ÷ | 93,083) |
| Apr 24, 2020 | 5.28% | = | 100 | × | 4,789) | ÷ | 90,689) |
| Apr 26, 2019 | 5.16% | = | 100 | × | 4,631) | ÷ | 89,694) |
| Apr 27, 2018 | 3.40% | = | 100 | × | 3,104) | ÷ | 91,393) |
| Apr 28, 2017 | 4.04% | = | 100 | × | 4,028) | ÷ | 99,816) |
| Apr 29, 2016 | 3.55% | = | 100 | × | 3,538) | ÷ | 99,782) |
| Apr 24, 2015 | 2.51% | = | 100 | × | 2,675) | ÷ | 106,685) |
| Apr 25, 2014 | 8.08% | = | 100 | × | 3,065) | ÷ | 37,943) |
| Apr 26, 2013 | 9.95% | = | 100 | × | 3,467) | ÷ | 34,841) |
| Apr 27, 2012 | 10.93% | = | 100 | × | 3,617) | ÷ | 33,083) |
| Apr 29, 2011 | 10.18% | = | 100 | × | 3,096) | ÷ | 30,424) |
| Apr 30, 2010 | 11.03% | = | 100 | × | 3,099) | ÷ | 28,090) |
| Apr 24, 2009 | 9.17% | = | 100 | × | 2,169) | ÷ | 23,661) |
| Apr 25, 2008 | 10.05% | = | 100 | × | 2,231) | ÷ | 22,198) |
| Apr 27, 2007 | 14.36% | = | 100 | × | 2,802) | ÷ | 19,512) |
| Apr 28, 2006 | 12.95% | = | 100 | × | 2,547) | ÷ | 19,665) |
| Apr 29, 2005 | 10.86% | = | 100 | × | 1,804) | ÷ | 16,617) |
Based on: 10-K (reporting date: 2026-04-24), 10-K (reporting date: 2025-04-25), 10-K (reporting date: 2024-04-26), 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27), 10-K (reporting date: 2017-04-28), 10-K (reporting date: 2016-04-29), 10-K (reporting date: 2015-04-24), 10-K (reporting date: 2014-04-25), 10-K (reporting date: 2013-04-26), 10-K (reporting date: 2012-04-27), 10-K (reporting date: 2011-04-29), 10-K (reporting date: 2010-04-30), 10-K (reporting date: 2009-04-24), 10-K (reporting date: 2008-04-25), 10-K (reporting date: 2007-04-27), 10-K (reporting date: 2006-04-28), 10-K (reporting date: 2005-04-29).
1 US$ in millions
The financial trajectory of Return on Assets (ROA) exhibits a clear bifurcation divided by a significant expansion of the asset base in 2015. The period from 2005 to 2014 is characterized by relatively high asset efficiency, while the subsequent decade shows stabilization at a significantly lower efficiency threshold.
- Initial High-Efficiency Phase (2005–2014)
- Between 2005 and 2014, ROA remained consistently high, peaking at 14.36% in 2007. During this period, net income grew from $1.8 billion to over $3 billion, while total assets expanded steadily from $16.6 billion to $37.9 billion. A gradual downward trend in ROA is observed starting in 2012, descending to 8.08% by 2014 as asset growth began to outpace the growth of net income.
- Asset Base Expansion and Structural Shift (2015)
- A critical structural shift occurred in 2015, where total assets increased abruptly from $37.9 billion to $106.7 billion. This substantial expansion of the balance sheet resulted in a sharp contraction of ROA, which fell to its lowest recorded point of 2.51%. This indicates a dramatic increase in the capital employed relative to the net income generated during that fiscal year.
- Long-term Stabilization and Recovery (2016–2026)
- From 2016 onward, ROA entered a period of relative stability, generally fluctuating between 3.40% and 5.54%. While total assets remained largely range-bound between $89 billion and $93 billion, net income exhibited higher volatility, reaching a peak of $5.04 billion in 2022. Consequently, ROA peaked during this second phase at 5.54% in 2022, before settling into a narrow band between 4.09% and 5.16% through 2026.
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Comparison to Competitors
Medtronic PLC, ROA, long-term trends, comparison to competitors
| Medtronic PLC | Abbott Laboratories | Elevance Health Inc. | Intuitive Surgical Inc. | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|
| Apr 24, 2026 | 5.16% | — | — | — | — |
| Apr 25, 2025 | 5.09% | 7.52% | 4.66% | 13.96% | 3.89% |
| Apr 26, 2024 | 4.09% | 16.46% | 5.12% | 12.39% | 4.83% |
| Apr 28, 2023 | 4.13% | 7.82% | 5.50% | 11.64% | 8.18% |
| Apr 29, 2022 | 5.54% | 9.31% | 5.86% | 10.19% | 8.19% |
| Apr 30, 2021 | 3.87% | 9.40% | 6.26% | 12.58% | 8.15% |
| Apr 24, 2020 | 5.28% | 6.20% | 5.28% | 9.50% | 7.81% |
| Apr 26, 2019 | 5.16% | 5.43% | 6.21% | 14.17% | 7.96% |
| Apr 27, 2018 | 3.40% | 3.53% | 5.24% | 14.37% | 7.87% |
| Apr 28, 2017 | 4.04% | 0.63% | 5.45% | 11.46% | 7.59% |
| Apr 29, 2016 | 3.55% | 2.66% | 3.79% | 11.34% | 5.71% |
| Apr 24, 2015 | 2.51% | 10.72% | 4.15% | 12.00% | 5.22% |
| Apr 25, 2014 | 8.08% | 5.53% | 4.14% | 10.58% | 6.50% |
| Apr 26, 2013 | 9.95% | 6.00% | 4.18% | 16.99% | 6.87% |
| Apr 27, 2012 | 10.93% | 8.87% | 4.50% | 16.18% | 6.83% |
| Apr 29, 2011 | 10.18% | 7.84% | 5.09% | 16.16% | 7.57% |
| Apr 30, 2010 | 11.03% | 7.78% | 5.75% | 15.97% | 7.35% |
| Apr 24, 2009 | 9.17% | 10.96% | 9.10% | 12.85% | 6.47% |
| Apr 25, 2008 | 10.05% | 11.51% | 5.15% | 13.86% | 5.33% |
| Apr 27, 2007 | 14.36% | 9.08% | 6.43% | 13.90% | 9.14% |
| Apr 28, 2006 | 12.95% | 4.75% | 5.98% | 10.72% | 8.61% |
| Apr 29, 2005 | 10.86% | 11.57% | 4.79% | 18.77% | 7.98% |
Based on: 10-K (reporting date: 2026-04-24), 10-K (reporting date: 2025-04-25), 10-K (reporting date: 2024-04-26), 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27), 10-K (reporting date: 2017-04-28), 10-K (reporting date: 2016-04-29), 10-K (reporting date: 2015-04-24), 10-K (reporting date: 2014-04-25), 10-K (reporting date: 2013-04-26), 10-K (reporting date: 2012-04-27), 10-K (reporting date: 2011-04-29), 10-K (reporting date: 2010-04-30), 10-K (reporting date: 2009-04-24), 10-K (reporting date: 2008-04-25), 10-K (reporting date: 2007-04-27), 10-K (reporting date: 2006-04-28), 10-K (reporting date: 2005-04-29).
Comparison to Sector (Health Care Equipment & Services)
Medtronic PLC, ROA, long-term trends, comparison to sector (health care equipment & services)
| Medtronic PLC | Health Care Equipment & Services | |
|---|---|---|
| Apr 24, 2026 | 5.16% | — |
| Apr 25, 2025 | 5.09% | 5.04% |
| Apr 26, 2024 | 4.09% | 6.57% |
| Apr 28, 2023 | 4.13% | 7.05% |
| Apr 29, 2022 | 5.54% | 7.49% |
| Apr 30, 2021 | 3.87% | 7.28% |
| Apr 24, 2020 | 5.28% | 6.62% |
| Apr 26, 2019 | 5.16% | 6.77% |
| Apr 27, 2018 | 3.40% | 5.72% |
| Apr 28, 2017 | 4.04% | 5.00% |
| Apr 29, 2016 | 3.55% | 4.37% |
| Apr 24, 2015 | 2.51% | 4.93% |
| Apr 25, 2014 | 8.08% | 6.03% |
| Apr 26, 2013 | 9.95% | 6.64% |
| Apr 27, 2012 | 10.93% | 7.54% |
| Apr 29, 2011 | 10.18% | 7.54% |
| Apr 30, 2010 | 11.03% | 7.69% |
| Apr 24, 2009 | 9.17% | 8.84% |
| Apr 25, 2008 | 10.05% | 7.51% |
| Apr 27, 2007 | 14.36% | 8.92% |
| Apr 28, 2006 | 12.95% | 7.40% |
| Apr 29, 2005 | 10.86% | 7.94% |
Based on: 10-K (reporting date: 2026-04-24), 10-K (reporting date: 2025-04-25), 10-K (reporting date: 2024-04-26), 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27), 10-K (reporting date: 2017-04-28), 10-K (reporting date: 2016-04-29), 10-K (reporting date: 2015-04-24), 10-K (reporting date: 2014-04-25), 10-K (reporting date: 2013-04-26), 10-K (reporting date: 2012-04-27), 10-K (reporting date: 2011-04-29), 10-K (reporting date: 2010-04-30), 10-K (reporting date: 2009-04-24), 10-K (reporting date: 2008-04-25), 10-K (reporting date: 2007-04-27), 10-K (reporting date: 2006-04-28), 10-K (reporting date: 2005-04-29).
Comparison to Industry (Health Care)
Medtronic PLC, ROA, long-term trends, comparison to industry (health care)
| Medtronic PLC | Health Care | |
|---|---|---|
| Apr 24, 2026 | 5.16% | — |
| Apr 25, 2025 | 5.09% | 7.89% |
| Apr 26, 2024 | 4.09% | 5.73% |
| Apr 28, 2023 | 4.13% | 7.19% |
| Apr 29, 2022 | 5.54% | 9.66% |
| Apr 30, 2021 | 3.87% | 9.46% |
| Apr 24, 2020 | 5.28% | 5.81% |
| Apr 26, 2019 | 5.16% | 8.32% |
| Apr 27, 2018 | 3.40% | 7.90% |
| Apr 28, 2017 | 4.04% | 5.19% |
| Apr 29, 2016 | 3.55% | 7.31% |
| Apr 24, 2015 | 2.51% | 7.71% |
| Apr 25, 2014 | 8.08% | 8.59% |
| Apr 26, 2013 | 9.95% | 8.76% |
| Apr 27, 2012 | 10.93% | 8.09% |
| Apr 29, 2011 | 10.18% | 7.36% |
| Apr 30, 2010 | 11.03% | 7.24% |
| Apr 24, 2009 | 9.17% | 9.73% |
| Apr 25, 2008 | 10.05% | 9.50% |
| Apr 27, 2007 | 14.36% | 8.88% |
| Apr 28, 2006 | 12.95% | 10.52% |
| Apr 29, 2005 | 10.86% | 9.67% |
Based on: 10-K (reporting date: 2026-04-24), 10-K (reporting date: 2025-04-25), 10-K (reporting date: 2024-04-26), 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27), 10-K (reporting date: 2017-04-28), 10-K (reporting date: 2016-04-29), 10-K (reporting date: 2015-04-24), 10-K (reporting date: 2014-04-25), 10-K (reporting date: 2013-04-26), 10-K (reporting date: 2012-04-27), 10-K (reporting date: 2011-04-29), 10-K (reporting date: 2010-04-30), 10-K (reporting date: 2009-04-24), 10-K (reporting date: 2008-04-25), 10-K (reporting date: 2007-04-27), 10-K (reporting date: 2006-04-28), 10-K (reporting date: 2005-04-29).