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

Medtronic PLC (NYSE:MDT)

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 0.49 0.51 0.51 0.66 0.60 0.68
Debt to equity (including operating lease liability) 0.51 0.51 0.51 0.66 0.60 0.68
Debt to capital 0.33 0.34 0.34 0.40 0.38 0.40
Debt to capital (including operating lease liability) 0.34 0.34 0.34 0.40 0.38 0.40
Debt to assets 0.27 0.28 0.28 0.34 0.31 0.34
Debt to assets (including operating lease liability) 0.28 0.28 0.28 0.34 0.31 0.34
Financial leverage 1.79 1.79 1.80 1.98 1.92 2.00
Coverage Ratios
Interest coverage 4.71 4.60 5.95 5.21 4.13 6.23
Fixed charge coverage 3.98 3.97 4.87 4.32 3.62 5.05

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 2,776  838  2,058  7,520  993  2,434 
Long-term debt 22,021  24,486  23,699  25,921  30,247  33,752 
Total debt 24,797  25,324  25,757  33,441  31,240  36,186 
 
Shareholders’ equity 50,737  50,091  50,720  50,294  52,063  53,230 
Solvency Ratio
Debt to equity1 0.49 0.51 0.51 0.66 0.60 0.68
Benchmarks
Debt to Equity, Competitors2
Becton, Dickinson & Co. 0.92 1.02 1.46 1.51 1.79
Boston Scientific Corp. 0.72 0.81 0.80 0.81 0.90
Danaher Corp. 0.72 0.35 0.40 0.53 0.54
Intuitive Surgical Inc. 0.00 0.00 0.00 0.00 0.00
Stryker Corp. 0.87 0.84 0.72 0.72 0.47
Thermo Fisher Scientific Inc. 0.60 0.69 0.83 0.77 0.59
UnitedHealth Group Inc. 0.71 0.71 0.66 0.86 0.95
Debt to Equity, Sector
Health Care Equipment & Services 0.65 0.63 0.70 0.71 0.73
Debt to Equity, Industry
Health Care 0.90 0.82 0.83 0.79 0.71

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
= 24,797 ÷ 50,737 = 0.49

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 2,776  838  2,058  7,520  993  2,434 
Long-term debt 22,021  24,486  23,699  25,921  30,247  33,752 
Total debt 24,797  25,324  25,757  33,441  31,240  36,186 
Operating lease current liability (classified in Other accrued expenses) 171  —  —  —  —  — 
Operating lease non-current liability (classified in Other liabilities) 774  —  —  —  —  — 
Total debt (including operating lease liability) 25,742  25,324  25,757  33,441  31,240  36,186 
 
Shareholders’ equity 50,737  50,091  50,720  50,294  52,063  53,230 
Solvency Ratio
Debt to equity (including operating lease liability)1 0.51 0.51 0.51 0.66 0.60 0.68
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Boston Scientific Corp. 0.75 0.81 0.80 0.81 0.90
Danaher Corp. 0.74 0.35 0.40 0.53 0.54
Intuitive Surgical Inc. 0.01 0.00 0.00 0.00 0.00
Stryker Corp. 0.90 0.84 0.72 0.72 0.47
Thermo Fisher Scientific Inc. 0.62 0.69 0.83 0.77 0.59
UnitedHealth Group Inc. 0.77 0.71 0.66 0.86 0.95
Debt to Equity (including Operating Lease Liability), Sector
Health Care Equipment & Services 0.68 0.63 0.70 0.71 0.73
Debt to Equity (including Operating Lease Liability), Industry
Health Care 0.93 0.82 0.83 0.79 0.71

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
= 25,742 ÷ 50,737 = 0.51

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 2,776  838  2,058  7,520  993  2,434 
Long-term debt 22,021  24,486  23,699  25,921  30,247  33,752 
Total debt 24,797  25,324  25,757  33,441  31,240  36,186 
Shareholders’ equity 50,737  50,091  50,720  50,294  52,063  53,230 
Total capital 75,534  75,415  76,477  83,735  83,303  89,416 
Solvency Ratio
Debt to capital1 0.33 0.34 0.34 0.40 0.38 0.40
Benchmarks
Debt to Capital, Competitors2
Becton, Dickinson & Co. 0.48 0.51 0.59 0.60 0.64
Boston Scientific Corp. 0.42 0.45 0.44 0.45 0.47
Danaher Corp. 0.42 0.26 0.29 0.35 0.35
Intuitive Surgical Inc. 0.00 0.00 0.00 0.00 0.00
Stryker Corp. 0.46 0.46 0.42 0.42 0.32
Thermo Fisher Scientific Inc. 0.37 0.41 0.45 0.44 0.37
UnitedHealth Group Inc. 0.41 0.41 0.40 0.46 0.49
Debt to Capital, Sector
Health Care Equipment & Services 0.39 0.39 0.41 0.42 0.42
Debt to Capital, Industry
Health Care 0.47 0.45 0.45 0.44 0.42

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
= 24,797 ÷ 75,534 = 0.33

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 2,776  838  2,058  7,520  993  2,434 
Long-term debt 22,021  24,486  23,699  25,921  30,247  33,752 
Total debt 24,797  25,324  25,757  33,441  31,240  36,186 
Operating lease current liability (classified in Other accrued expenses) 171  —  —  —  —  — 
Operating lease non-current liability (classified in Other liabilities) 774  —  —  —  —  — 
Total debt (including operating lease liability) 25,742  25,324  25,757  33,441  31,240  36,186 
Shareholders’ equity 50,737  50,091  50,720  50,294  52,063  53,230 
Total capital (including operating lease liability) 76,479  75,415  76,477  83,735  83,303  89,416 
Solvency Ratio
Debt to capital (including operating lease liability)1 0.34 0.34 0.34 0.40 0.38 0.40
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Boston Scientific Corp. 0.43 0.45 0.44 0.45 0.47
Danaher Corp. 0.43 0.26 0.29 0.35 0.35
Intuitive Surgical Inc. 0.01 0.00 0.00 0.00 0.00
Stryker Corp. 0.47 0.46 0.42 0.42 0.32
Thermo Fisher Scientific Inc. 0.38 0.41 0.45 0.44 0.37
UnitedHealth Group Inc. 0.44 0.41 0.40 0.46 0.49
Debt to Capital (including Operating Lease Liability), Sector
Health Care Equipment & Services 0.41 0.39 0.41 0.42 0.42
Debt to Capital (including Operating Lease Liability), Industry
Health Care 0.48 0.45 0.45 0.44 0.42

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)
= 25,742 ÷ 76,479 = 0.34

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 2,776  838  2,058  7,520  993  2,434 
Long-term debt 22,021  24,486  23,699  25,921  30,247  33,752 
Total debt 24,797  25,324  25,757  33,441  31,240  36,186 
 
Total assets 90,689  89,694  91,393  99,816  99,782  106,685 
Solvency Ratio
Debt to assets1 0.27 0.28 0.28 0.34 0.31 0.34
Benchmarks
Debt to Assets, Competitors2
Becton, Dickinson & Co. 0.37 0.40 0.50 0.45 0.48
Boston Scientific Corp. 0.33 0.34 0.29 0.30 0.31
Danaher Corp. 0.35 0.20 0.23 0.27 0.27
Intuitive Surgical Inc. 0.00 0.00 0.00 0.00 0.00
Stryker Corp. 0.37 0.36 0.33 0.34 0.25
Thermo Fisher Scientific Inc. 0.30 0.34 0.37 0.36 0.31
UnitedHealth Group Inc. 0.23 0.24 0.23 0.27 0.29
Debt to Assets, Sector
Health Care Equipment & Services 0.29 0.28 0.30 0.30 0.31
Debt to Assets, Industry
Health Care 0.33 0.31 0.32 0.31 0.29

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
= 24,797 ÷ 90,689 = 0.27

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 2,776  838  2,058  7,520  993  2,434 
Long-term debt 22,021  24,486  23,699  25,921  30,247  33,752 
Total debt 24,797  25,324  25,757  33,441  31,240  36,186 
Operating lease current liability (classified in Other accrued expenses) 171  —  —  —  —  — 
Operating lease non-current liability (classified in Other liabilities) 774  —  —  —  —  — 
Total debt (including operating lease liability) 25,742  25,324  25,757  33,441  31,240  36,186 
 
Total assets 90,689  89,694  91,393  99,816  99,782  106,685 
Solvency Ratio
Debt to assets (including operating lease liability)1 0.28 0.28 0.28 0.34 0.31 0.34
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Boston Scientific Corp. 0.34 0.34 0.29 0.30 0.31
Danaher Corp. 0.36 0.20 0.23 0.27 0.27
Intuitive Surgical Inc. 0.01 0.00 0.00 0.00 0.00
Stryker Corp. 0.38 0.36 0.33 0.34 0.25
Thermo Fisher Scientific Inc. 0.32 0.34 0.37 0.36 0.31
UnitedHealth Group Inc. 0.26 0.24 0.23 0.27 0.29
Debt to Assets (including Operating Lease Liability), Sector
Health Care Equipment & Services 0.30 0.28 0.30 0.30 0.31
Debt to Assets (including Operating Lease Liability), Industry
Health Care 0.34 0.31 0.32 0.31 0.29

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
= 25,742 ÷ 90,689 = 0.28

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 90,689  89,694  91,393  99,816  99,782  106,685 
Shareholders’ equity 50,737  50,091  50,720  50,294  52,063  53,230 
Solvency Ratio
Financial leverage1 1.79 1.79 1.80 1.98 1.92 2.00
Benchmarks
Financial Leverage, Competitors2
Becton, Dickinson & Co. 2.46 2.57 2.91 3.35 3.74
Boston Scientific Corp. 2.20 2.41 2.72 2.69 2.87
Danaher Corp. 2.05 1.70 1.77 1.97 2.04
Intuitive Surgical Inc. 1.18 1.17 1.22 1.12 1.14
Stryker Corp. 2.36 2.32 2.23 2.14 1.91
Thermo Fisher Scientific Inc. 1.97 2.04 2.23 2.13 1.92
UnitedHealth Group Inc. 3.02 2.94 2.91 3.21 3.29
Financial Leverage, Sector
Health Care Equipment & Services 2.26 2.22 2.31 2.34 2.36
Financial Leverage, Industry
Health Care 2.76 2.67 2.64 2.53 2.41

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
= 90,689 ÷ 50,737 = 1.79

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 4,789  4,631  3,104  4,028  3,538  2,675 
Add: Net income attributable to noncontrolling interest 17  19  (9) (4) —  — 
Add: Income tax expense (751) 547  2,580  578  798  811 
Add: Interest expense 1,092  1,444  1,146  1,094  1,386  666 
Earnings before interest and tax (EBIT) 5,147  6,641  6,821  5,696  5,722  4,152 
Solvency Ratio
Interest coverage1 4.71 4.60 5.95 5.21 4.13 6.23
Benchmarks
Interest Coverage, Competitors2
Becton, Dickinson & Co. 2.84 2.66 2.87 3.77 2.99
Boston Scientific Corp. 2.45 6.90 5.07 1.76 -1.29
Danaher Corp. 31.44 21.92 19.06 15.16 21.42
Intuitive Surgical Inc.
Stryker Corp. 9.93 9.92 9.35 9.43 17.06
Thermo Fisher Scientific Inc. 7.02 5.89 5.10 5.31 5.67
UnitedHealth Group Inc. 11.55 12.39 12.82 12.12 13.95
Interest Coverage, Sector
Health Care Equipment & Services 7.84 8.51 8.21 7.32 8.71
Interest Coverage, Industry
Health Care 10.25 9.98 10.30 10.91 13.34

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
= 5,147 ÷ 1,092 = 4.71

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 4,789  4,631  3,104  4,028  3,538  2,675 
Add: Net income attributable to noncontrolling interest 17  19  (9) (4) —  — 
Add: Income tax expense (751) 547  2,580  578  798  811 
Add: Interest expense 1,092  1,444  1,146  1,094  1,386  666 
Earnings before interest and tax (EBIT) 5,147  6,641  6,821  5,696  5,722  4,152 
Add: Operating lease cost 269  305  319  294  269  195 
Earnings before fixed charges and tax 5,416  6,946  7,140  5,990  5,991  4,347 
 
Interest expense 1,092  1,444  1,146  1,094  1,386  666 
Operating lease cost 269  305  319  294  269  195 
Fixed charges 1,361  1,749  1,465  1,388  1,655  861 
Solvency Ratio
Fixed charge coverage1 3.98 3.97 4.87 4.32 3.62 5.05
Benchmarks
Fixed Charge Coverage, Competitors2
Becton, Dickinson & Co. 1.99 1.92 2.18 3.15 2.61
Boston Scientific Corp. 2.24 5.27 3.94 1.57 -0.81
Danaher Corp. 8.38 8.49 8.14 7.46 8.84
Intuitive Surgical Inc. 79.65
Stryker Corp. 7.10 6.86 6.55 6.65 9.30
Thermo Fisher Scientific Inc. 5.60 4.72 4.07 4.11 4.25
UnitedHealth Group Inc. 7.65 8.41 8.40 8.08 8.61
Fixed Charge Coverage, Sector
Health Care Equipment & Services 5.66 6.09 5.92 5.51 6.07
Fixed Charge Coverage, Industry
Health Care 7.90 7.87 8.12 8.60 9.99

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
= 5,416 ÷ 1,361 = 3.98

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.