Stock Analysis on Net

Medtronic PLC (NYSE:MDT)

$24.99

Return on Assets (ROA)
since 2005

Microsoft Excel

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Calculation

Medtronic PLC, ROA, long-term trends, calculation

Microsoft Excel

Based on: 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


Net Income Attributable to Medtronic (US$ in millions)
The net income showed an overall growth trend across the 20-year period, rising from $1,804 million in 2005 to a peak of $5,039 million in 2022. However, fluctuations are apparent, including periods of decline, notably between 2007 and 2009, and again around 2013 to 2015. The net income experienced recovery after these downturns, with substantial increases in 2016 and 2019. Recent years show variability with a peak in 2022 followed by a decline and subsequent partial recovery through 2025.
Total Assets (US$ in millions)
Total assets demonstrated a significant increase over the timeframe, starting at $16,617 million in 2005 and rising sharply to $106,685 million in 2015, reflecting substantial growth and possibly strategic acquisitions or asset accumulation. After 2015, totals stabilized somewhat, fluctuating around the $90,000 million mark with minor variations year to year, indicating a plateau in asset base expansion during the latter part of the period.
Return on Assets (ROA, %)
ROA showed a declining trend from high levels in the early years, decreasing from 10.86% in 2005 to a low of 2.51% in 2014. Post-2014, ROA improved moderately but remained below earlier peak values, fluctuating between approximately 3.4% and 5.54% through 2025. This pattern suggests that despite growth in net income and assets, asset efficiency in generating returns diminished over time, stabilizing at a lower level in recent years.
Overall Analysis
The data reveals a company with increasing scale as evidenced by the marked growth in total assets until mid-period, followed by stabilization. Net income trends reflect periods of both growth and contraction, indicating sensitivity to external or internal challenges but with recovery capacity. The decline in ROA suggests that asset growth outpaced profitability gains, resulting in reduced efficiency of asset use. Recent years show attempts at improving profitability ratios, albeit not reaching early period performance levels.

Comparison to Competitors

Medtronic PLC, ROA, long-term trends, comparison to competitors

Microsoft Excel

Based on: 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)


Comparison to Industry (Health Care)