Stock Analysis on Net
Stock Analysis on Net

Medtronic PLC (NYSE:MDT)

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Analysis of Short-term (Operating) Activity Ratios

Microsoft Excel

Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.

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Short-term Activity Ratios (Summary)

Medtronic PLC, short-term (operating) activity ratios

Microsoft Excel
Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019 Apr 27, 2018 Apr 28, 2017
Turnover Ratios
Inventory turnover
Receivables turnover
Payables turnover
Working capital turnover
Average No. Days
Average inventory processing period
Add: Average receivable collection period
Operating cycle
Less: Average payables payment period
Cash conversion cycle

Based on: 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27), 10-K (reporting date: 2017-04-28).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Medtronic PLC inventory turnover ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.
Receivables turnover An activity ratio equal to revenue divided by receivables. Medtronic PLC receivables turnover ratio deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Medtronic PLC payables turnover ratio increased from 2020 to 2021 but then decreased significantly from 2021 to 2022.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Medtronic PLC working capital turnover ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.
Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Medtronic PLC number of days of inventory outstanding improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Medtronic PLC number of days of receivables outstanding deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Medtronic PLC operating cycle improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Medtronic PLC number of days of payables outstanding decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Medtronic PLC cash conversion cycle improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.

Inventory Turnover

Medtronic PLC, inventory turnover calculation, comparison to benchmarks

Microsoft Excel
Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019 Apr 27, 2018 Apr 28, 2017
Selected Financial Data (US$ in millions)
Cost of products sold, excluding amortization of intangible assets
Inventories, net
Short-term Activity Ratio
Inventory turnover1
Benchmarks
Inventory Turnover, Competitors2
Abbott Laboratories
Abiomed Inc.
Bristol-Myers Squibb Co.
Cigna Corp.
CVS Health Corp.
Danaher Corp.
Intuitive Surgical Inc.
Inventory Turnover, Sector
Health Care Equipment & Services
Inventory Turnover, Industry
Health Care

Based on: 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27), 10-K (reporting date: 2017-04-28).

1 2022 Calculation
Inventory turnover = Cost of products sold, excluding amortization of intangible assets ÷ Inventories, net
= ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Medtronic PLC inventory turnover ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.

Receivables Turnover

Medtronic PLC, receivables turnover calculation, comparison to benchmarks

Microsoft Excel
Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019 Apr 27, 2018 Apr 28, 2017
Selected Financial Data (US$ in millions)
Net sales
Accounts receivable, less allowances and credit losses
Short-term Activity Ratio
Receivables turnover1
Benchmarks
Receivables Turnover, Competitors2
Abbott Laboratories
Abiomed Inc.
Bristol-Myers Squibb Co.
Cigna Corp.
CVS Health Corp.
Danaher Corp.
Elevance Health Inc.
Humana Inc.
Intuitive Surgical Inc.
UnitedHealth Group Inc.
Receivables Turnover, Sector
Health Care Equipment & Services
Receivables Turnover, Industry
Health Care

Based on: 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27), 10-K (reporting date: 2017-04-28).

1 2022 Calculation
Receivables turnover = Net sales ÷ Accounts receivable, less allowances and credit losses
= ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Medtronic PLC receivables turnover ratio deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022.

Payables Turnover

Medtronic PLC, payables turnover calculation, comparison to benchmarks

Microsoft Excel
Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019 Apr 27, 2018 Apr 28, 2017
Selected Financial Data (US$ in millions)
Cost of products sold, excluding amortization of intangible assets
Accounts payable
Short-term Activity Ratio
Payables turnover1
Benchmarks
Payables Turnover, Competitors2
Abbott Laboratories
Abiomed Inc.
Bristol-Myers Squibb Co.
Cigna Corp.
CVS Health Corp.
Danaher Corp.
Elevance Health Inc.
Humana Inc.
Intuitive Surgical Inc.
UnitedHealth Group Inc.
Payables Turnover, Sector
Health Care Equipment & Services
Payables Turnover, Industry
Health Care

Based on: 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27), 10-K (reporting date: 2017-04-28).

1 2022 Calculation
Payables turnover = Cost of products sold, excluding amortization of intangible assets ÷ Accounts payable
= ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Medtronic PLC payables turnover ratio increased from 2020 to 2021 but then decreased significantly from 2021 to 2022.

Working Capital Turnover

Medtronic PLC, working capital turnover calculation, comparison to benchmarks

Microsoft Excel
Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019 Apr 27, 2018 Apr 28, 2017
Selected Financial Data (US$ in millions)
Current assets
Less: Current liabilities
Working capital
 
Net sales
Short-term Activity Ratio
Working capital turnover1
Benchmarks
Working Capital Turnover, Competitors2
Abbott Laboratories
Abiomed Inc.
Bristol-Myers Squibb Co.
Cigna Corp.
CVS Health Corp.
Danaher Corp.
Elevance Health Inc.
Humana Inc.
Intuitive Surgical Inc.
UnitedHealth Group Inc.
Working Capital Turnover, Sector
Health Care Equipment & Services
Working Capital Turnover, Industry
Health Care

Based on: 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27), 10-K (reporting date: 2017-04-28).

1 2022 Calculation
Working capital turnover = Net sales ÷ Working capital
= ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. Medtronic PLC working capital turnover ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.

Average Inventory Processing Period

Medtronic PLC, average inventory processing period calculation, comparison to benchmarks

Microsoft Excel
Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019 Apr 27, 2018 Apr 28, 2017
Selected Financial Data
Inventory turnover
Short-term Activity Ratio (no. days)
Average inventory processing period1
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Abbott Laboratories
Abiomed Inc.
Bristol-Myers Squibb Co.
Cigna Corp.
CVS Health Corp.
Danaher Corp.
Intuitive Surgical Inc.
Average Inventory Processing Period, Sector
Health Care Equipment & Services
Average Inventory Processing Period, Industry
Health Care

Based on: 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27), 10-K (reporting date: 2017-04-28).

1 2022 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Medtronic PLC number of days of inventory outstanding improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.

Average Receivable Collection Period

Medtronic PLC, average receivable collection period calculation, comparison to benchmarks

Microsoft Excel
Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019 Apr 27, 2018 Apr 28, 2017
Selected Financial Data
Receivables turnover
Short-term Activity Ratio (no. days)
Average receivable collection period1
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Abbott Laboratories
Abiomed Inc.
Bristol-Myers Squibb Co.
Cigna Corp.
CVS Health Corp.
Danaher Corp.
Elevance Health Inc.
Humana Inc.
Intuitive Surgical Inc.
UnitedHealth Group Inc.
Average Receivable Collection Period, Sector
Health Care Equipment & Services
Average Receivable Collection Period, Industry
Health Care

Based on: 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27), 10-K (reporting date: 2017-04-28).

1 2022 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Medtronic PLC number of days of receivables outstanding deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022.

Operating Cycle

Medtronic PLC, operating cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019 Apr 27, 2018 Apr 28, 2017
Selected Financial Data
Average inventory processing period
Average receivable collection period
Short-term Activity Ratio
Operating cycle1
Benchmarks
Operating Cycle, Competitors2
Abbott Laboratories
Abiomed Inc.
Bristol-Myers Squibb Co.
Cigna Corp.
CVS Health Corp.
Danaher Corp.
Intuitive Surgical Inc.
Operating Cycle, Sector
Health Care Equipment & Services
Operating Cycle, Industry
Health Care

Based on: 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27), 10-K (reporting date: 2017-04-28).

1 2022 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= + =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. Medtronic PLC operating cycle improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.

Average Payables Payment Period

Medtronic PLC, average payables payment period calculation, comparison to benchmarks

Microsoft Excel
Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019 Apr 27, 2018 Apr 28, 2017
Selected Financial Data
Payables turnover
Short-term Activity Ratio (no. days)
Average payables payment period1
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Abbott Laboratories
Abiomed Inc.
Bristol-Myers Squibb Co.
Cigna Corp.
CVS Health Corp.
Danaher Corp.
Elevance Health Inc.
Humana Inc.
Intuitive Surgical Inc.
UnitedHealth Group Inc.
Average Payables Payment Period, Sector
Health Care Equipment & Services
Average Payables Payment Period, Industry
Health Care

Based on: 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27), 10-K (reporting date: 2017-04-28).

1 2022 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Medtronic PLC number of days of payables outstanding decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.

Cash Conversion Cycle

Medtronic PLC, cash conversion cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019 Apr 27, 2018 Apr 28, 2017
Selected Financial Data
Average inventory processing period
Average receivable collection period
Average payables payment period
Short-term Activity Ratio
Cash conversion cycle1
Benchmarks
Cash Conversion Cycle, Competitors2
Abbott Laboratories
Abiomed Inc.
Bristol-Myers Squibb Co.
Cigna Corp.
CVS Health Corp.
Danaher Corp.
Intuitive Surgical Inc.
Cash Conversion Cycle, Sector
Health Care Equipment & Services
Cash Conversion Cycle, Industry
Health Care

Based on: 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27), 10-K (reporting date: 2017-04-28).

1 2022 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= + – =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Medtronic PLC cash conversion cycle improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.