Stock Analysis on Net
Stock Analysis on Net

Medtronic PLC (NYSE:MDT)

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Analysis of Solvency Ratios
Quarterly Data

Beginner level

Solvency Ratios (Summary)

Medtronic PLC, solvency ratios (quarterly data)

Microsoft Excel LibreOffice Calc
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 Apr 28, 2017 Jan 27, 2017 Oct 28, 2016 Jul 29, 2016 Apr 29, 2016 Jan 29, 2016 Oct 30, 2015 Jul 31, 2015 Apr 24, 2015 Jan 23, 2015 Oct 24, 2014 Jul 25, 2014
Debt Ratios
Debt to equity
Debt to capital
Debt to assets
Financial leverage
Coverage Ratios
Interest coverage

Based on: 10-Q (filing date: 2020-12-03), 10-Q (filing date: 2020-09-03), 10-K (filing date: 2020-06-19), 10-Q (filing date: 2020-02-28), 10-Q (filing date: 2019-12-03), 10-Q (filing date: 2019-08-30), 10-K (filing date: 2019-06-21), 10-Q (filing date: 2019-03-01), 10-Q (filing date: 2018-11-29), 10-Q (filing date: 2018-08-31), 10-K (filing date: 2018-06-22), 10-Q (filing date: 2018-03-02), 10-Q (filing date: 2017-12-04), 10-Q (filing date: 2017-09-01), 10-K (filing date: 2017-06-27), 10-Q (filing date: 2017-03-03), 10-Q (filing date: 2016-12-05), 10-Q (filing date: 2016-09-07), 10-K (filing date: 2016-06-28), 10-Q (filing date: 2016-03-09), 10-Q (filing date: 2015-12-09), 10-Q (filing date: 2015-09-09), 10-K (filing date: 2015-06-23), 10-Q (filing date: 2015-02-27), 10-Q (filing date: 2014-11-26), 10-Q (filing date: 2014-08-29).

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 deteriorated from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.
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 deteriorated from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Medtronic PLC’s debt to assets ratio deteriorated from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Medtronic PLC’s financial leverage ratio increased from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.

Solvency 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 Q4 2020 to Q1 2021 but then deteriorated significantly from Q1 2021 to Q2 2021.

Debt to Equity

Medtronic PLC, debt to equity calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Apr 28, 2017 Jan 27, 2017 Oct 28, 2016 Jul 29, 2016 Apr 29, 2016 Jan 29, 2016 Oct 30, 2015 Jul 31, 2015 Apr 24, 2015 Jan 23, 2015 Oct 24, 2014 Jul 25, 2014
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.

Based on: 10-Q (filing date: 2020-12-03), 10-Q (filing date: 2020-09-03), 10-K (filing date: 2020-06-19), 10-Q (filing date: 2020-02-28), 10-Q (filing date: 2019-12-03), 10-Q (filing date: 2019-08-30), 10-K (filing date: 2019-06-21), 10-Q (filing date: 2019-03-01), 10-Q (filing date: 2018-11-29), 10-Q (filing date: 2018-08-31), 10-K (filing date: 2018-06-22), 10-Q (filing date: 2018-03-02), 10-Q (filing date: 2017-12-04), 10-Q (filing date: 2017-09-01), 10-K (filing date: 2017-06-27), 10-Q (filing date: 2017-03-03), 10-Q (filing date: 2016-12-05), 10-Q (filing date: 2016-09-07), 10-K (filing date: 2016-06-28), 10-Q (filing date: 2016-03-09), 10-Q (filing date: 2015-12-09), 10-Q (filing date: 2015-09-09), 10-K (filing date: 2015-06-23), 10-Q (filing date: 2015-02-27), 10-Q (filing date: 2014-11-26), 10-Q (filing date: 2014-08-29).

1 Q2 2021 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 deteriorated from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.

Debt to Capital

Medtronic PLC, debt to capital calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Apr 28, 2017 Jan 27, 2017 Oct 28, 2016 Jul 29, 2016 Apr 29, 2016 Jan 29, 2016 Oct 30, 2015 Jul 31, 2015 Apr 24, 2015 Jan 23, 2015 Oct 24, 2014 Jul 25, 2014
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.

Based on: 10-Q (filing date: 2020-12-03), 10-Q (filing date: 2020-09-03), 10-K (filing date: 2020-06-19), 10-Q (filing date: 2020-02-28), 10-Q (filing date: 2019-12-03), 10-Q (filing date: 2019-08-30), 10-K (filing date: 2019-06-21), 10-Q (filing date: 2019-03-01), 10-Q (filing date: 2018-11-29), 10-Q (filing date: 2018-08-31), 10-K (filing date: 2018-06-22), 10-Q (filing date: 2018-03-02), 10-Q (filing date: 2017-12-04), 10-Q (filing date: 2017-09-01), 10-K (filing date: 2017-06-27), 10-Q (filing date: 2017-03-03), 10-Q (filing date: 2016-12-05), 10-Q (filing date: 2016-09-07), 10-K (filing date: 2016-06-28), 10-Q (filing date: 2016-03-09), 10-Q (filing date: 2015-12-09), 10-Q (filing date: 2015-09-09), 10-K (filing date: 2015-06-23), 10-Q (filing date: 2015-02-27), 10-Q (filing date: 2014-11-26), 10-Q (filing date: 2014-08-29).

1 Q2 2021 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 deteriorated from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.

Debt to Assets

Medtronic PLC, debt to assets calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Apr 28, 2017 Jan 27, 2017 Oct 28, 2016 Jul 29, 2016 Apr 29, 2016 Jan 29, 2016 Oct 30, 2015 Jul 31, 2015 Apr 24, 2015 Jan 23, 2015 Oct 24, 2014 Jul 25, 2014
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.

Based on: 10-Q (filing date: 2020-12-03), 10-Q (filing date: 2020-09-03), 10-K (filing date: 2020-06-19), 10-Q (filing date: 2020-02-28), 10-Q (filing date: 2019-12-03), 10-Q (filing date: 2019-08-30), 10-K (filing date: 2019-06-21), 10-Q (filing date: 2019-03-01), 10-Q (filing date: 2018-11-29), 10-Q (filing date: 2018-08-31), 10-K (filing date: 2018-06-22), 10-Q (filing date: 2018-03-02), 10-Q (filing date: 2017-12-04), 10-Q (filing date: 2017-09-01), 10-K (filing date: 2017-06-27), 10-Q (filing date: 2017-03-03), 10-Q (filing date: 2016-12-05), 10-Q (filing date: 2016-09-07), 10-K (filing date: 2016-06-28), 10-Q (filing date: 2016-03-09), 10-Q (filing date: 2015-12-09), 10-Q (filing date: 2015-09-09), 10-K (filing date: 2015-06-23), 10-Q (filing date: 2015-02-27), 10-Q (filing date: 2014-11-26), 10-Q (filing date: 2014-08-29).

1 Q2 2021 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 Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.

Financial Leverage

Medtronic PLC, financial leverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Apr 28, 2017 Jan 27, 2017 Oct 28, 2016 Jul 29, 2016 Apr 29, 2016 Jan 29, 2016 Oct 30, 2015 Jul 31, 2015 Apr 24, 2015 Jan 23, 2015 Oct 24, 2014 Jul 25, 2014
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.

Based on: 10-Q (filing date: 2020-12-03), 10-Q (filing date: 2020-09-03), 10-K (filing date: 2020-06-19), 10-Q (filing date: 2020-02-28), 10-Q (filing date: 2019-12-03), 10-Q (filing date: 2019-08-30), 10-K (filing date: 2019-06-21), 10-Q (filing date: 2019-03-01), 10-Q (filing date: 2018-11-29), 10-Q (filing date: 2018-08-31), 10-K (filing date: 2018-06-22), 10-Q (filing date: 2018-03-02), 10-Q (filing date: 2017-12-04), 10-Q (filing date: 2017-09-01), 10-K (filing date: 2017-06-27), 10-Q (filing date: 2017-03-03), 10-Q (filing date: 2016-12-05), 10-Q (filing date: 2016-09-07), 10-K (filing date: 2016-06-28), 10-Q (filing date: 2016-03-09), 10-Q (filing date: 2015-12-09), 10-Q (filing date: 2015-09-09), 10-K (filing date: 2015-06-23), 10-Q (filing date: 2015-02-27), 10-Q (filing date: 2014-11-26), 10-Q (filing date: 2014-08-29).

1 Q2 2021 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 increased from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.

Interest Coverage

Medtronic PLC, interest coverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Apr 28, 2017 Jan 27, 2017 Oct 28, 2016 Jul 29, 2016 Apr 29, 2016 Jan 29, 2016 Oct 30, 2015 Jul 31, 2015 Apr 24, 2015 Jan 23, 2015 Oct 24, 2014 Jul 25, 2014
Selected Financial Data (US$ in millions)
Net income (loss) 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.
Thermo Fisher Scientific Inc.
UnitedHealth Group Inc.

Based on: 10-Q (filing date: 2020-12-03), 10-Q (filing date: 2020-09-03), 10-K (filing date: 2020-06-19), 10-Q (filing date: 2020-02-28), 10-Q (filing date: 2019-12-03), 10-Q (filing date: 2019-08-30), 10-K (filing date: 2019-06-21), 10-Q (filing date: 2019-03-01), 10-Q (filing date: 2018-11-29), 10-Q (filing date: 2018-08-31), 10-K (filing date: 2018-06-22), 10-Q (filing date: 2018-03-02), 10-Q (filing date: 2017-12-04), 10-Q (filing date: 2017-09-01), 10-K (filing date: 2017-06-27), 10-Q (filing date: 2017-03-03), 10-Q (filing date: 2016-12-05), 10-Q (filing date: 2016-09-07), 10-K (filing date: 2016-06-28), 10-Q (filing date: 2016-03-09), 10-Q (filing date: 2015-12-09), 10-Q (filing date: 2015-09-09), 10-K (filing date: 2015-06-23), 10-Q (filing date: 2015-02-27), 10-Q (filing date: 2014-11-26), 10-Q (filing date: 2014-08-29).

1 Q2 2021 Calculation
Interest coverage = (EBITQ2 2021 + EBITQ1 2021 + EBITQ4 2020 + EBITQ3 2020) ÷ (Interest expenseQ2 2021 + Interest expenseQ1 2021 + Interest expenseQ4 2020 + Interest expenseQ3 2020)
= ( + + + ) ÷ ( + + + ) =

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 improved from Q4 2020 to Q1 2021 but then deteriorated significantly from Q1 2021 to Q2 2021.