Return on Assets (ROA)
since 2005
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Medtronic PLC pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common Stock Valuation Ratios
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Aggregate Accruals
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Calculation
Medtronic PLC, ROA, long-term trends, calculation
| ROA | = | 100 | × | Net income attributable to Medtronic1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Apr 24, 2026 | = | 100 | × | ÷ | |||
| Apr 25, 2025 | = | 100 | × | ÷ | |||
| Apr 26, 2024 | = | 100 | × | ÷ | |||
| Apr 28, 2023 | = | 100 | × | ÷ | |||
| Apr 29, 2022 | = | 100 | × | ÷ | |||
| Apr 30, 2021 | = | 100 | × | ÷ | |||
| Apr 24, 2020 | = | 100 | × | ÷ | |||
| Apr 26, 2019 | = | 100 | × | ÷ | |||
| Apr 27, 2018 | = | 100 | × | ÷ | |||
| Apr 28, 2017 | = | 100 | × | ÷ | |||
| Apr 29, 2016 | = | 100 | × | ÷ | |||
| Apr 24, 2015 | = | 100 | × | ÷ | |||
| Apr 25, 2014 | = | 100 | × | ÷ | |||
| Apr 26, 2013 | = | 100 | × | ÷ | |||
| Apr 27, 2012 | = | 100 | × | ÷ | |||
| Apr 29, 2011 | = | 100 | × | ÷ | |||
| Apr 30, 2010 | = | 100 | × | ÷ | |||
| Apr 24, 2009 | = | 100 | × | ÷ | |||
| Apr 25, 2008 | = | 100 | × | ÷ | |||
| Apr 27, 2007 | = | 100 | × | ÷ | |||
| Apr 28, 2006 | = | 100 | × | ÷ | |||
| Apr 29, 2005 | = | 100 | × | ÷ |
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.
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 | |||||
| Apr 25, 2025 | |||||
| Apr 26, 2024 | |||||
| Apr 28, 2023 | |||||
| Apr 29, 2022 | |||||
| Apr 30, 2021 | |||||
| Apr 24, 2020 | |||||
| Apr 26, 2019 | |||||
| Apr 27, 2018 | |||||
| Apr 28, 2017 | |||||
| Apr 29, 2016 | |||||
| Apr 24, 2015 | |||||
| Apr 25, 2014 | |||||
| Apr 26, 2013 | |||||
| Apr 27, 2012 | |||||
| Apr 29, 2011 | |||||
| Apr 30, 2010 | |||||
| Apr 24, 2009 | |||||
| Apr 25, 2008 | |||||
| Apr 27, 2007 | |||||
| Apr 28, 2006 | |||||
| Apr 29, 2005 |
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 | ||
| Apr 25, 2025 | ||
| Apr 26, 2024 | ||
| Apr 28, 2023 | ||
| Apr 29, 2022 | ||
| Apr 30, 2021 | ||
| Apr 24, 2020 | ||
| Apr 26, 2019 | ||
| Apr 27, 2018 | ||
| Apr 28, 2017 | ||
| Apr 29, 2016 | ||
| Apr 24, 2015 | ||
| Apr 25, 2014 | ||
| Apr 26, 2013 | ||
| Apr 27, 2012 | ||
| Apr 29, 2011 | ||
| Apr 30, 2010 | ||
| Apr 24, 2009 | ||
| Apr 25, 2008 | ||
| Apr 27, 2007 | ||
| Apr 28, 2006 | ||
| Apr 29, 2005 |
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 | ||
| Apr 25, 2025 | ||
| Apr 26, 2024 | ||
| Apr 28, 2023 | ||
| Apr 29, 2022 | ||
| Apr 30, 2021 | ||
| Apr 24, 2020 | ||
| Apr 26, 2019 | ||
| Apr 27, 2018 | ||
| Apr 28, 2017 | ||
| Apr 29, 2016 | ||
| Apr 24, 2015 | ||
| Apr 25, 2014 | ||
| Apr 26, 2013 | ||
| Apr 27, 2012 | ||
| Apr 29, 2011 | ||
| Apr 30, 2010 | ||
| Apr 24, 2009 | ||
| Apr 25, 2008 | ||
| Apr 27, 2007 | ||
| Apr 28, 2006 | ||
| Apr 29, 2005 |
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).