Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Medtronic PLC (NYSE:MDT)

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Analysis of Solvency Ratios

Beginner level

Solvency Ratios (Summary)

Medtronic PLC, solvency ratios

Microsoft Excel LibreOffice Calc
Apr 24, 2020 Apr 26, 2019 Apr 27, 2018 Apr 28, 2017 Apr 29, 2016 Apr 24, 2015
Debt Ratios
Debt to equity
Debt to equity (including operating lease liability)
Debt to capital
Debt to capital (including operating lease liability)
Debt to assets
Debt to assets (including operating lease liability)
Financial leverage
Coverage Ratios
Interest coverage
Fixed charge coverage

Based on: 10-K (filing date: 2020-06-19), 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).

Solvency 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 2018 to 2019 and from 2019 to 2020.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Medtronic PLC’s debt to equity ratio (including operating lease liability) improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020 not reaching 2018 level.
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 2018 to 2019 and from 2019 to 2020.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Medtronic PLC’s debt to capital ratio (including operating lease liability) improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020 not reaching 2018 level.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Medtronic PLC’s debt to assets ratio deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Medtronic PLC’s debt to assets ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Medtronic PLC’s financial leverage ratio decreased from 2018 to 2019 and from 2019 to 2020.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Medtronic PLC’s interest coverage ratio deteriorated from 2018 to 2019 but then slightly improved from 2019 to 2020.
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 deteriorated from 2018 to 2019 but then slightly improved from 2019 to 2020.

Debt to Equity

Medtronic PLC, debt to equity calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Apr 24, 2020 Apr 26, 2019 Apr 27, 2018 Apr 28, 2017 Apr 29, 2016 Apr 24, 2015
Selected Financial Data (US$ in millions)
Current debt obligations
Long-term debt
Total debt
 
Shareholders’ equity
Solvency Ratio
Debt to equity1
Benchmarks
Debt to Equity, Competitors2
Becton, Dickinson & Co.
Boston Scientific Corp.
Danaher Corp.
Edwards Lifesciences Corp.
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: 2020-06-19), 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).

1 2020 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity
= ÷ =

2 Click competitor name to see calculations.

Solvency 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 2018 to 2019 and from 2019 to 2020.

Debt to Equity (including Operating Lease Liability)

Medtronic PLC, debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Apr 24, 2020 Apr 26, 2019 Apr 27, 2018 Apr 28, 2017 Apr 29, 2016 Apr 24, 2015
Selected Financial Data (US$ in millions)
Current debt obligations
Long-term debt
Total debt
Operating lease current liability (classified in Other accrued expenses)
Operating lease non-current liability (classified in Other liabilities)
Total debt (including operating lease liability)
 
Shareholders’ equity
Solvency Ratio
Debt to equity (including operating lease liability)1
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Boston Scientific Corp.
Danaher Corp.
Edwards Lifesciences Corp.
Intuitive Surgical Inc.
Stryker Corp.
Thermo Fisher Scientific Inc.
UnitedHealth Group Inc.
Debt to Equity (including Operating Lease Liability), Sector
Health Care Equipment & Services
Debt to Equity (including Operating Lease Liability), Industry
Health Care

Based on: 10-K (filing date: 2020-06-19), 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).

1 2020 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Shareholders’ equity
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Medtronic PLC’s debt to equity ratio (including operating lease liability) improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020 not reaching 2018 level.

Debt to Capital

Medtronic PLC, debt to capital calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Apr 24, 2020 Apr 26, 2019 Apr 27, 2018 Apr 28, 2017 Apr 29, 2016 Apr 24, 2015
Selected Financial Data (US$ in millions)
Current debt obligations
Long-term debt
Total debt
Shareholders’ equity
Total capital
Solvency Ratio
Debt to capital1
Benchmarks
Debt to Capital, Competitors2
Becton, Dickinson & Co.
Boston Scientific Corp.
Danaher Corp.
Edwards Lifesciences Corp.
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: 2020-06-19), 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).

1 2020 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =

2 Click competitor name to see calculations.

Solvency 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 2018 to 2019 and from 2019 to 2020.

Debt to Capital (including Operating Lease Liability)

Medtronic PLC, debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Apr 24, 2020 Apr 26, 2019 Apr 27, 2018 Apr 28, 2017 Apr 29, 2016 Apr 24, 2015
Selected Financial Data (US$ in millions)
Current debt obligations
Long-term debt
Total debt
Operating lease current liability (classified in Other accrued expenses)
Operating lease non-current liability (classified in Other liabilities)
Total debt (including operating lease liability)
Shareholders’ equity
Total capital (including operating lease liability)
Solvency Ratio
Debt to capital (including operating lease liability)1
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Boston Scientific Corp.
Danaher Corp.
Edwards Lifesciences Corp.
Intuitive Surgical Inc.
Stryker Corp.
Thermo Fisher Scientific Inc.
UnitedHealth Group Inc.
Debt to Capital (including Operating Lease Liability), Sector
Health Care Equipment & Services
Debt to Capital (including Operating Lease Liability), Industry
Health Care

Based on: 10-K (filing date: 2020-06-19), 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).

1 2020 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Medtronic PLC’s debt to capital ratio (including operating lease liability) improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020 not reaching 2018 level.

Debt to Assets

Medtronic PLC, debt to assets calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Apr 24, 2020 Apr 26, 2019 Apr 27, 2018 Apr 28, 2017 Apr 29, 2016 Apr 24, 2015
Selected Financial Data (US$ in millions)
Current debt obligations
Long-term debt
Total debt
 
Total assets
Solvency Ratio
Debt to assets1
Benchmarks
Debt to Assets, Competitors2
Becton, Dickinson & Co.
Boston Scientific Corp.
Danaher Corp.
Edwards Lifesciences Corp.
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: 2020-06-19), 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).

1 2020 Calculation
Debt to assets = Total debt ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency 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 deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level.

Debt to Assets (including Operating Lease Liability)

Medtronic PLC, debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Apr 24, 2020 Apr 26, 2019 Apr 27, 2018 Apr 28, 2017 Apr 29, 2016 Apr 24, 2015
Selected Financial Data (US$ in millions)
Current debt obligations
Long-term debt
Total debt
Operating lease current liability (classified in Other accrued expenses)
Operating lease non-current liability (classified in Other liabilities)
Total debt (including operating lease liability)
 
Total assets
Solvency Ratio
Debt to assets (including operating lease liability)1
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Boston Scientific Corp.
Danaher Corp.
Edwards Lifesciences Corp.
Intuitive Surgical Inc.
Stryker Corp.
Thermo Fisher Scientific Inc.
UnitedHealth Group Inc.
Debt to Assets (including Operating Lease Liability), Sector
Health Care Equipment & Services
Debt to Assets (including Operating Lease Liability), Industry
Health Care

Based on: 10-K (filing date: 2020-06-19), 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).

1 2020 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Medtronic PLC’s debt to assets ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020.

Financial Leverage

Medtronic PLC, financial leverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Apr 24, 2020 Apr 26, 2019 Apr 27, 2018 Apr 28, 2017 Apr 29, 2016 Apr 24, 2015
Selected Financial Data (US$ in millions)
Total assets
Shareholders’ equity
Solvency Ratio
Financial leverage1
Benchmarks
Financial Leverage, Competitors2
Becton, Dickinson & Co.
Boston Scientific Corp.
Danaher Corp.
Edwards Lifesciences Corp.
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: 2020-06-19), 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).

1 2020 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity
= ÷ =

2 Click competitor name to see calculations.

Solvency 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 decreased from 2018 to 2019 and from 2019 to 2020.

Interest Coverage

Medtronic PLC, interest coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Apr 24, 2020 Apr 26, 2019 Apr 27, 2018 Apr 28, 2017 Apr 29, 2016 Apr 24, 2015
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)
Solvency Ratio
Interest coverage1
Benchmarks
Interest Coverage, Competitors2
Becton, Dickinson & Co.
Boston Scientific Corp.
Danaher Corp.
Edwards Lifesciences Corp.
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: 2020-06-19), 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).

1 2020 Calculation
Interest coverage = EBIT ÷ Interest expense
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Medtronic PLC’s interest coverage ratio deteriorated from 2018 to 2019 but then slightly improved from 2019 to 2020.

Fixed Charge Coverage

Medtronic PLC, fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Apr 24, 2020 Apr 26, 2019 Apr 27, 2018 Apr 28, 2017 Apr 29, 2016 Apr 24, 2015
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: Operating lease cost
Earnings before fixed charges and tax
 
Interest expense
Operating lease cost
Fixed charges
Solvency Ratio
Fixed charge coverage1
Benchmarks
Fixed Charge Coverage, Competitors2
Becton, Dickinson & Co.
Boston Scientific Corp.
Danaher Corp.
Edwards Lifesciences Corp.
Intuitive Surgical Inc.
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: 2020-06-19), 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).

1 2020 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =

2 Click competitor name to see calculations.

Solvency 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 deteriorated from 2018 to 2019 but then slightly improved from 2019 to 2020.