Stock Analysis on Net

Medtronic PLC (NYSE:MDT)

Analysis of Liquidity Ratios
Quarterly Data

Microsoft Excel

Liquidity Ratios (Summary)

Medtronic PLC, liquidity ratios (quarterly data)

Microsoft Excel
Jan 26, 2024 Oct 27, 2023 Jul 28, 2023 Apr 28, 2023 Jan 27, 2023 Oct 28, 2022 Jul 29, 2022 Apr 29, 2022 Jan 28, 2022 Oct 29, 2021 Jul 30, 2021 Apr 30, 2021 Jan 29, 2021 Oct 30, 2020 Jul 31, 2020 Apr 24, 2020 Jan 24, 2020 Oct 25, 2019 Jul 26, 2019 Apr 26, 2019 Jan 25, 2019 Oct 26, 2018 Jul 27, 2018 Apr 27, 2018 Jan 26, 2018 Oct 27, 2017 Jul 28, 2017
Current ratio 2.30 2.29 2.42 2.39 1.76 1.76 1.58 1.86 2.61 2.91 2.89 2.65 2.10 2.16 1.87 2.13 2.75 2.77 2.67 2.59 2.36 2.56 2.46 2.28 2.43 2.40 1.64
Quick ratio 1.46 1.42 1.51 1.54 1.18 1.18 1.01 1.30 1.87 2.07 2.06 1.91 1.58 1.63 1.37 1.50 2.05 2.02 1.95 1.90 1.69 1.88 1.83 1.71 1.85 1.84 1.25
Cash ratio 0.85 0.80 0.87 0.88 0.77 0.79 0.63 0.85 1.26 1.37 1.36 1.27 1.17 1.18 0.99 1.06 1.33 1.27 1.25 1.16 1.03 1.20 1.21 1.11 1.32 1.29 0.86

Based on: 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), 10-K (reporting date: 2019-04-26), 10-Q (reporting date: 2019-01-25), 10-Q (reporting date: 2018-10-26), 10-Q (reporting date: 2018-07-27), 10-K (reporting date: 2018-04-27), 10-Q (reporting date: 2018-01-26), 10-Q (reporting date: 2017-10-27), 10-Q (reporting date: 2017-07-28).

Liquidity ratio Description The company
Current ratio A liquidity ratio calculated as current assets divided by current liabilities. Medtronic PLC current ratio deteriorated from Q1 2024 to Q2 2024 but then slightly improved from Q2 2024 to Q3 2024.
Quick ratio A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. Medtronic PLC quick ratio deteriorated from Q1 2024 to Q2 2024 but then slightly improved from Q2 2024 to Q3 2024.
Cash ratio A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. Medtronic PLC cash ratio deteriorated from Q1 2024 to Q2 2024 but then improved from Q2 2024 to Q3 2024 not reaching Q1 2024 level.

Current Ratio

Medtronic PLC, current ratio calculation (quarterly data)

Microsoft Excel
Jan 26, 2024 Oct 27, 2023 Jul 28, 2023 Apr 28, 2023 Jan 27, 2023 Oct 28, 2022 Jul 29, 2022 Apr 29, 2022 Jan 28, 2022 Oct 29, 2021 Jul 30, 2021 Apr 30, 2021 Jan 29, 2021 Oct 30, 2020 Jul 31, 2020 Apr 24, 2020 Jan 24, 2020 Oct 25, 2019 Jul 26, 2019 Apr 26, 2019 Jan 25, 2019 Oct 26, 2018 Jul 27, 2018 Apr 27, 2018 Jan 26, 2018 Oct 27, 2017 Jul 28, 2017
Selected Financial Data (US$ in millions)
Current assets 22,513 22,081 21,869 21,675 25,364 25,398 22,135 23,059 23,303 22,731 22,434 22,548 26,347 26,036 24,509 22,031 24,043 22,653 22,705 21,967 20,877 21,653 22,460 22,980 26,607 25,162 24,779
Current liabilities 9,793 9,659 9,047 9,051 14,422 14,465 14,049 12,394 8,927 7,803 7,764 8,509 12,534 12,071 13,086 10,366 8,735 8,170 8,518 8,472 8,853 8,463 9,112 10,084 10,933 10,496 15,148
Liquidity Ratio
Current ratio1 2.30 2.29 2.42 2.39 1.76 1.76 1.58 1.86 2.61 2.91 2.89 2.65 2.10 2.16 1.87 2.13 2.75 2.77 2.67 2.59 2.36 2.56 2.46 2.28 2.43 2.40 1.64
Benchmarks
Current Ratio, Competitors2
Abbott Laboratories 1.64 1.74 1.64 1.68 1.63 1.86 2.01 1.85 1.85 1.83 1.79 1.75 1.72 1.70 1.57 1.43 1.44 1.54 1.68 1.58
Cigna Group 0.77 0.73 0.73 0.72 0.73 0.73 0.83 0.81 0.83 0.70 0.72 0.76 0.77 0.79 0.83 0.76 0.74 0.61 0.65 0.64
CVS Health Corp. 0.86 0.86 0.86 0.92 0.94 0.94 0.91 0.88 0.88 0.94 0.95 0.93 0.91 0.95 0.98 0.99 0.94 0.92 0.95 0.95
Danaher Corp. 1.68 2.26 2.08 1.89 1.89 1.78 1.75 1.68 1.43 1.48 2.26 2.05 1.86 2.08 2.20 1.32 5.19 3.43 2.32 2.18
Elevance Health Inc. 1.44 1.41 1.44 1.43 1.40 1.35 1.36 1.36 1.47 1.48 1.49 1.57 1.55 1.59 1.64 1.53 1.65 1.70 1.64 1.61
Humana Inc. 1.59 1.37 1.37 1.39 1.52 1.35 1.53 1.53 1.62 1.72 1.71 1.67 1.77 1.81 1.69 1.66 1.82 1.83 1.75 1.65
Intuitive Surgical Inc. 4.76 5.31 5.22 5.26 4.40 5.10 5.36 5.22 5.08 5.58 5.99 6.71 6.86 7.04 6.38 4.96 4.53 4.64 5.04 5.44
UnitedHealth Group Inc. 0.79 0.80 0.80 0.81 0.77 0.82 0.77 0.78 0.79 0.77 0.77 0.74 0.74 0.82 0.84 0.75 0.69 0.70 0.67 0.73

Based on: 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), 10-K (reporting date: 2019-04-26), 10-Q (reporting date: 2019-01-25), 10-Q (reporting date: 2018-10-26), 10-Q (reporting date: 2018-07-27), 10-K (reporting date: 2018-04-27), 10-Q (reporting date: 2018-01-26), 10-Q (reporting date: 2017-10-27), 10-Q (reporting date: 2017-07-28).

1 Q3 2024 Calculation
Current ratio = Current assets ÷ Current liabilities
= 22,513 ÷ 9,793 = 2.30

2 Click competitor name to see calculations.

Liquidity ratio Description The company
Current ratio A liquidity ratio calculated as current assets divided by current liabilities. Medtronic PLC current ratio deteriorated from Q1 2024 to Q2 2024 but then slightly improved from Q2 2024 to Q3 2024.

Quick Ratio

Medtronic PLC, quick ratio calculation (quarterly data)

Microsoft Excel
Jan 26, 2024 Oct 27, 2023 Jul 28, 2023 Apr 28, 2023 Jan 27, 2023 Oct 28, 2022 Jul 29, 2022 Apr 29, 2022 Jan 28, 2022 Oct 29, 2021 Jul 30, 2021 Apr 30, 2021 Jan 29, 2021 Oct 30, 2020 Jul 31, 2020 Apr 24, 2020 Jan 24, 2020 Oct 25, 2019 Jul 26, 2019 Apr 26, 2019 Jan 25, 2019 Oct 26, 2018 Jul 27, 2018 Apr 27, 2018 Jan 26, 2018 Oct 27, 2017 Jul 28, 2017
Selected Financial Data (US$ in millions)
Cash and cash equivalents 1,623 1,311 1,339 1,543 4,521 4,828 2,140 3,714 3,479 2,900 3,004 3,593 5,077 6,420 6,499 4,140 3,709 3,962 5,080 4,393 3,703 3,911 4,380 3,669 6,358 5,529 4,691
Investments 6,698 6,423 6,537 6,416 6,616 6,602 6,733 6,859 7,742 7,769 7,591 7,224 9,562 7,857 6,513 6,808 7,919 6,436 5,603 5,455 5,439 6,222 6,624 7,558 8,078 7,997 8,397
Accounts receivable, less allowances and credit losses 5,968 5,934 5,806 5,998 5,887 5,626 5,308 5,551 5,446 5,493 5,431 5,462 5,215 5,348 4,876 4,645 6,248 6,118 5,894 6,222 5,854 5,743 5,674 5,987 5,775 5,752 5,784
Total quick assets 14,289 13,668 13,682 13,957 17,024 17,056 14,181 16,124 16,667 16,162 16,026 16,279 19,854 19,625 17,888 15,593 17,876 16,516 16,577 16,070 14,996 15,876 16,678 17,214 20,211 19,278 18,872
 
Current liabilities 9,793 9,659 9,047 9,051 14,422 14,465 14,049 12,394 8,927 7,803 7,764 8,509 12,534 12,071 13,086 10,366 8,735 8,170 8,518 8,472 8,853 8,463 9,112 10,084 10,933 10,496 15,148
Liquidity Ratio
Quick ratio1 1.46 1.42 1.51 1.54 1.18 1.18 1.01 1.30 1.87 2.07 2.06 1.91 1.58 1.63 1.37 1.50 2.05 2.02 1.95 1.90 1.69 1.88 1.83 1.71 1.85 1.84 1.25
Benchmarks
Quick Ratio, Competitors2
Abbott Laboratories 1.00 1.04 1.00 1.07 1.06 1.22 1.33 1.21 1.28 1.25 1.19 1.16 1.14 1.01 0.93 0.83 0.88 0.93 0.98 0.94
Cigna Group 0.54 0.61 0.61 0.59 0.58 0.61 0.52 0.48 0.48 0.58 0.59 0.64 0.66 0.46 0.50 0.42 0.41 0.51 0.53 0.53
CVS Health Corp. 0.59 0.60 0.59 0.61 0.62 0.64 0.62 0.54 0.55 0.59 0.58 0.54 0.53 0.58 0.63 0.60 0.52 0.52 0.54 0.55
Danaher Corp. 1.18 1.76 1.52 1.34 1.30 1.19 1.13 1.08 0.89 0.93 1.67 1.51 1.36 1.52 1.59 0.92 4.68 2.99 1.78 1.58
Elevance Health Inc. 1.30 1.29 1.32 1.31 1.27 1.21 1.22 1.23 1.33 1.33 1.35 1.43 1.42 1.45 1.49 1.37 1.52 1.58 1.51 1.49
Humana Inc. 1.24 1.15 1.16 1.18 1.20 1.13 1.21 1.21 1.20 1.32 1.28 1.26 1.37 1.47 1.35 1.29 1.47 1.51 1.36 1.32
Intuitive Surgical Inc. 3.83 4.44 4.36 4.30 3.56 4.19 4.49 4.40 4.34 4.66 5.12 5.76 5.96 5.93 5.40 4.00 3.75 3.80 4.15 4.53
UnitedHealth Group Inc. 0.73 0.75 0.74 0.75 0.70 0.77 0.71 0.72 0.72 0.71 0.71 0.68 0.68 0.75 0.76 0.66 0.63 0.64 0.62 0.66

Based on: 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), 10-K (reporting date: 2019-04-26), 10-Q (reporting date: 2019-01-25), 10-Q (reporting date: 2018-10-26), 10-Q (reporting date: 2018-07-27), 10-K (reporting date: 2018-04-27), 10-Q (reporting date: 2018-01-26), 10-Q (reporting date: 2017-10-27), 10-Q (reporting date: 2017-07-28).

1 Q3 2024 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 14,289 ÷ 9,793 = 1.46

2 Click competitor name to see calculations.

Liquidity ratio Description The company
Quick ratio A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. Medtronic PLC quick ratio deteriorated from Q1 2024 to Q2 2024 but then slightly improved from Q2 2024 to Q3 2024.

Cash Ratio

Medtronic PLC, cash ratio calculation (quarterly data)

Microsoft Excel
Jan 26, 2024 Oct 27, 2023 Jul 28, 2023 Apr 28, 2023 Jan 27, 2023 Oct 28, 2022 Jul 29, 2022 Apr 29, 2022 Jan 28, 2022 Oct 29, 2021 Jul 30, 2021 Apr 30, 2021 Jan 29, 2021 Oct 30, 2020 Jul 31, 2020 Apr 24, 2020 Jan 24, 2020 Oct 25, 2019 Jul 26, 2019 Apr 26, 2019 Jan 25, 2019 Oct 26, 2018 Jul 27, 2018 Apr 27, 2018 Jan 26, 2018 Oct 27, 2017 Jul 28, 2017
Selected Financial Data (US$ in millions)
Cash and cash equivalents 1,623 1,311 1,339 1,543 4,521 4,828 2,140 3,714 3,479 2,900 3,004 3,593 5,077 6,420 6,499 4,140 3,709 3,962 5,080 4,393 3,703 3,911 4,380 3,669 6,358 5,529 4,691
Investments 6,698 6,423 6,537 6,416 6,616 6,602 6,733 6,859 7,742 7,769 7,591 7,224 9,562 7,857 6,513 6,808 7,919 6,436 5,603 5,455 5,439 6,222 6,624 7,558 8,078 7,997 8,397
Total cash assets 8,321 7,734 7,876 7,959 11,137 11,430 8,873 10,573 11,221 10,669 10,595 10,817 14,639 14,277 13,012 10,948 11,628 10,398 10,683 9,848 9,142 10,133 11,004 11,227 14,436 13,526 13,088
 
Current liabilities 9,793 9,659 9,047 9,051 14,422 14,465 14,049 12,394 8,927 7,803 7,764 8,509 12,534 12,071 13,086 10,366 8,735 8,170 8,518 8,472 8,853 8,463 9,112 10,084 10,933 10,496 15,148
Liquidity Ratio
Cash ratio1 0.85 0.80 0.87 0.88 0.77 0.79 0.63 0.85 1.26 1.37 1.36 1.27 1.17 1.18 0.99 1.06 1.33 1.27 1.25 1.16 1.03 1.20 1.21 1.11 1.32 1.29 0.86
Benchmarks
Cash Ratio, Competitors2
Abbott Laboratories 0.53 0.54 0.57 0.66 0.66 0.74 0.75 0.65 0.78 0.75 0.71 0.67 0.60 0.46 0.46 0.34 0.38 0.41 0.37 0.36
Cigna Group 0.18 0.20 0.22 0.20 0.17 0.19 0.11 0.12 0.14 0.13 0.15 0.24 0.32 0.15 0.20 0.13 0.14 0.17 0.17 0.20
CVS Health Corp. 0.14 0.20 0.21 0.24 0.23 0.28 0.22 0.16 0.18 0.20 0.17 0.15 0.18 0.19 0.27 0.21 0.15 0.14 0.17 0.16
Danaher Corp. 0.71 1.31 1.02 0.85 0.71 0.64 0.53 0.49 0.32 0.35 1.07 0.93 0.82 0.94 0.99 0.52 4.04 2.40 1.08 0.84
Elevance Health Inc. 0.87 0.90 0.92 0.91 0.86 0.87 0.86 0.86 0.95 0.97 0.97 1.08 1.04 1.04 1.10 0.95 1.08 1.14 1.07 1.04
Humana Inc. 1.13 1.09 1.11 1.06 1.10 1.07 1.02 1.02 1.08 1.20 1.12 1.12 1.29 1.39 1.22 1.16 1.37 1.44 1.28 1.15
Intuitive Surgical Inc. 3.15 3.86 3.77 3.59 2.90 3.50 3.78 3.58 3.66 3.98 4.42 5.04 5.30 5.27 4.85 3.44 3.13 3.11 3.37 3.79
UnitedHealth Group Inc. 0.34 0.42 0.44 0.43 0.36 0.46 0.36 0.37 0.36 0.35 0.35 0.33 0.33 0.37 0.42 0.35 0.28 0.30 0.32 0.32

Based on: 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), 10-K (reporting date: 2019-04-26), 10-Q (reporting date: 2019-01-25), 10-Q (reporting date: 2018-10-26), 10-Q (reporting date: 2018-07-27), 10-K (reporting date: 2018-04-27), 10-Q (reporting date: 2018-01-26), 10-Q (reporting date: 2017-10-27), 10-Q (reporting date: 2017-07-28).

1 Q3 2024 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 8,321 ÷ 9,793 = 0.85

2 Click competitor name to see calculations.

Liquidity ratio Description The company
Cash ratio A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. Medtronic PLC cash ratio deteriorated from Q1 2024 to Q2 2024 but then improved from Q2 2024 to Q3 2024 not reaching Q1 2024 level.