Paying users zone. Data is covered by 
.
Get 1 month access to Medtronic PLC for $19.99, or
get full access to entire website for at least 3 months from $49.99.
We accept:
Medtronic PLC (MDT)
Long-term Debt and Solvency Analysis
Difficulty: Beginner
Solvency ratios also known as long-term debt ratios measure a company’s ability to meet long-term obligations.
Ratios (Summary)
Medtronic PLC, debt and solvency ratios
Based on: 10-K (filing date: 2019-06-21), 10-K (filing date: 2018-06-22), 10-K (filing date: 2017-06-27), 10-K (filing date: 2016-06-28), 10-K (filing date: 2015-06-23), 10-K (filing date: 2014-06-20).
| Ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Medtronic PLC’s debt to equity ratio improved from 2017 to 2018 and from 2018 to 2019. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Medtronic PLC’s debt to capital ratio improved from 2017 to 2018 and from 2018 to 2019. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Medtronic PLC’s debt to assets ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Medtronic PLC’s financial leverage ratio improved from 2017 to 2018 and from 2018 to 2019. |
| Ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Medtronic PLC’s interest coverage ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Medtronic PLC’s fixed charge coverage ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. |
Debt to Equity
Medtronic PLC, debt to equity calculation, comparison to benchmarks
| Apr 26, 2019 | Apr 27, 2018 | Apr 28, 2017 | Apr 29, 2016 | Apr 24, 2015 | Apr 25, 2014 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current debt obligations | |
|
|
|
|
|
|
| Long-term debt | |
|
|
|
|
|
|
| Total debt | |
|
|
|
|
|
|
| Shareholders’ equity | |
|
|
|
|
|
|
| Ratio | |||||||
| Debt to equity1 | |
|
|
|
|
|
|
| Benchmarks | |||||||
| Debt to Equity, Competitors2 | |||||||
| Becton, Dickinson & Co. | |
|
|
|
|
|
|
| Intuitive Surgical Inc. | |
|
|
|
|
|
|
| Stryker Corp. | |
|
|
|
|
|
|
| Thermo Fisher Scientific Inc. | |
|
|
|
|
|
|
| UnitedHealth Group Inc. | |
|
|
|
|
|
|
| Debt to Equity, Sector | |||||||
| Health Care Equipment & Services | |
|
|
|
|
|
|
| Debt to Equity, Industry | |||||||
| Health Care | |
|
|
|
|
|
|
Based on: 10-K (filing date: 2019-06-21), 10-K (filing date: 2018-06-22), 10-K (filing date: 2017-06-27), 10-K (filing date: 2016-06-28), 10-K (filing date: 2015-06-23), 10-K (filing date: 2014-06-20).
1 2019 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity
= ÷ =
2 Click competitor name to see calculations.
| Ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Medtronic PLC’s debt to equity ratio improved from 2017 to 2018 and from 2018 to 2019. |
Debt to Capital
Medtronic PLC, debt to capital calculation, comparison to benchmarks
| Apr 26, 2019 | Apr 27, 2018 | Apr 28, 2017 | Apr 29, 2016 | Apr 24, 2015 | Apr 25, 2014 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current debt obligations | |
|
|
|
|
|
|
| Long-term debt | |
|
|
|
|
|
|
| Total debt | |
|
|
|
|
|
|
| Shareholders’ equity | |
|
|
|
|
|
|
| Total capital | |
|
|
|
|
|
|
| Ratio | |||||||
| Debt to capital1 | |
|
|
|
|
|
|
| Benchmarks | |||||||
| Debt to Capital, Competitors2 | |||||||
| Becton, Dickinson & Co. | |
|
|
|
|
|
|
| Intuitive Surgical Inc. | |
|
|
|
|
|
|
| Stryker Corp. | |
|
|
|
|
|
|
| Thermo Fisher Scientific Inc. | |
|
|
|
|
|
|
| UnitedHealth Group Inc. | |
|
|
|
|
|
|
| Debt to Capital, Sector | |||||||
| Health Care Equipment & Services | |
|
|
|
|
|
|
| Debt to Capital, Industry | |||||||
| Health Care | |
|
|
|
|
|
|
Based on: 10-K (filing date: 2019-06-21), 10-K (filing date: 2018-06-22), 10-K (filing date: 2017-06-27), 10-K (filing date: 2016-06-28), 10-K (filing date: 2015-06-23), 10-K (filing date: 2014-06-20).
1 2019 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =
2 Click competitor name to see calculations.
| Ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Medtronic PLC’s debt to capital ratio improved from 2017 to 2018 and from 2018 to 2019. |
Debt to Assets
Medtronic PLC, debt to assets calculation, comparison to benchmarks
| Apr 26, 2019 | Apr 27, 2018 | Apr 28, 2017 | Apr 29, 2016 | Apr 24, 2015 | Apr 25, 2014 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current debt obligations | |
|
|
|
|
|
|
| Long-term debt | |
|
|
|
|
|
|
| Total debt | |
|
|
|
|
|
|
| Total assets | |
|
|
|
|
|
|
| Ratio | |||||||
| Debt to assets1 | |
|
|
|
|
|
|
| Benchmarks | |||||||
| Debt to Assets, Competitors2 | |||||||
| Becton, Dickinson & Co. | |
|
|
|
|
|
|
| Intuitive Surgical Inc. | |
|
|
|
|
|
|
| Stryker Corp. | |
|
|
|
|
|
|
| Thermo Fisher Scientific Inc. | |
|
|
|
|
|
|
| UnitedHealth Group Inc. | |
|
|
|
|
|
|
| Debt to Assets, Sector | |||||||
| Health Care Equipment & Services | |
|
|
|
|
|
|
| Debt to Assets, Industry | |||||||
| Health Care | |
|
|
|
|
|
|
Based on: 10-K (filing date: 2019-06-21), 10-K (filing date: 2018-06-22), 10-K (filing date: 2017-06-27), 10-K (filing date: 2016-06-28), 10-K (filing date: 2015-06-23), 10-K (filing date: 2014-06-20).
1 2019 Calculation
Debt to assets = Total debt ÷ Total assets
= ÷ =
2 Click competitor name to see calculations.
| Ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Medtronic PLC’s debt to assets ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019. |
Financial Leverage
Medtronic PLC, financial leverage calculation, comparison to benchmarks
| Apr 26, 2019 | Apr 27, 2018 | Apr 28, 2017 | Apr 29, 2016 | Apr 24, 2015 | Apr 25, 2014 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Total assets | |
|
|
|
|
|
|
| Shareholders’ equity | |
|
|
|
|
|
|
| Ratio | |||||||
| Financial leverage1 | |
|
|
|
|
|
|
| Benchmarks | |||||||
| Financial Leverage, Competitors2 | |||||||
| Becton, Dickinson & Co. | |
|
|
|
|
|
|
| Intuitive Surgical Inc. | |
|
|
|
|
|
|
| Stryker Corp. | |
|
|
|
|
|
|
| Thermo Fisher Scientific Inc. | |
|
|
|
|
|
|
| UnitedHealth Group Inc. | |
|
|
|
|
|
|
| Financial Leverage, Sector | |||||||
| Health Care Equipment & Services | |
|
|
|
|
|
|
| Financial Leverage, Industry | |||||||
| Health Care | |
|
|
|
|
|
|
Based on: 10-K (filing date: 2019-06-21), 10-K (filing date: 2018-06-22), 10-K (filing date: 2017-06-27), 10-K (filing date: 2016-06-28), 10-K (filing date: 2015-06-23), 10-K (filing date: 2014-06-20).
1 2019 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity
= ÷ =
2 Click competitor name to see calculations.
| Ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Medtronic PLC’s financial leverage ratio improved from 2017 to 2018 and from 2018 to 2019. |
Interest Coverage
Medtronic PLC, interest coverage calculation, comparison to benchmarks
| Apr 26, 2019 | Apr 27, 2018 | Apr 28, 2017 | Apr 29, 2016 | Apr 24, 2015 | Apr 25, 2014 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net income attributable to Medtronic | |
|
|
|
|
|
|
| Add: Net income attributable to noncontrolling interest | |
|
|
|
|
|
|
| Add: Income tax expense | |
|
|
|
|
|
|
| Add: Interest expense | |
|
|
|
|
|
|
| Earnings before interest and tax (EBIT) | |
|
|
|
|
|
|
| Ratio | |||||||
| Interest coverage1 | |
|
|
|
|
|
|
| Benchmarks | |||||||
| Interest Coverage, Competitors2 | |||||||
| Becton, Dickinson & Co. | |
|
|
|
|
|
|
| Intuitive Surgical Inc. | |
|
|
|
|
|
|
| Stryker Corp. | |
|
|
|
|
|
|
| Thermo Fisher Scientific Inc. | |
|
|
|
|
|
|
| UnitedHealth Group Inc. | |
|
|
|
|
|
|
| Interest Coverage, Sector | |||||||
| Health Care Equipment & Services | |
|
|
|
|
|
|
| Interest Coverage, Industry | |||||||
| Health Care | |
|
|
|
|
|
|
Based on: 10-K (filing date: 2019-06-21), 10-K (filing date: 2018-06-22), 10-K (filing date: 2017-06-27), 10-K (filing date: 2016-06-28), 10-K (filing date: 2015-06-23), 10-K (filing date: 2014-06-20).
1 2019 Calculation
Interest coverage = EBIT ÷ Interest expense
= ÷ =
2 Click competitor name to see calculations.
| Ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Medtronic PLC’s interest coverage ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. |
Fixed Charge Coverage
Medtronic PLC, fixed charge coverage calculation, comparison to benchmarks
| Apr 26, 2019 | Apr 27, 2018 | Apr 28, 2017 | Apr 29, 2016 | Apr 24, 2015 | Apr 25, 2014 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net income attributable to Medtronic | |
|
|
|
|
|
|
| Add: Net income attributable to noncontrolling interest | |
|
|
|
|
|
|
| Add: Income tax expense | |
|
|
|
|
|
|
| Add: Interest expense | |
|
|
|
|
|
|
| Earnings before interest and tax (EBIT) | |
|
|
|
|
|
|
| Add: Rent expense for all operating leases | |
|
|
|
|
|
|
| Earnings before fixed charges and tax | |
|
|
|
|
|
|
| Interest expense | |
|
|
|
|
|
|
| Rent expense for all operating leases | |
|
|
|
|
|
|
| Fixed charges | |
|
|
|
|
|
|
| Ratio | |||||||
| Fixed charge coverage1 | |
|
|
|
|
|
|
| Benchmarks | |||||||
| Fixed Charge Coverage, Competitors2 | |||||||
| Becton, Dickinson & Co. | |
|
|
|
|
|
|
| Stryker Corp. | |
|
|
|
|
|
|
| Thermo Fisher Scientific Inc. | |
|
|
|
|
|
|
| UnitedHealth Group Inc. | |
|
|
|
|
|
|
| Fixed Charge Coverage, Sector | |||||||
| Health Care Equipment & Services | |
|
|
|
|
|
|
| Fixed Charge Coverage, Industry | |||||||
| Health Care | |
|
|
|
|
|
|
Based on: 10-K (filing date: 2019-06-21), 10-K (filing date: 2018-06-22), 10-K (filing date: 2017-06-27), 10-K (filing date: 2016-06-28), 10-K (filing date: 2015-06-23), 10-K (filing date: 2014-06-20).
1 2019 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =
2 Click competitor name to see calculations.
| Ratio | Description | The company |
|---|---|---|
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Medtronic PLC’s fixed charge coverage ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. |