Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Short-term Activity Ratios (Summary)
Based on: 10-Q (reporting date: 2024-01-26), 10-Q (reporting date: 2023-10-27), 10-Q (reporting date: 2023-07-28), 10-K (reporting date: 2023-04-28), 10-Q (reporting date: 2023-01-27), 10-Q (reporting date: 2022-10-28), 10-Q (reporting date: 2022-07-29), 10-K (reporting date: 2022-04-29), 10-Q (reporting date: 2022-01-28), 10-Q (reporting date: 2021-10-29), 10-Q (reporting date: 2021-07-30), 10-K (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-29), 10-Q (reporting date: 2020-10-30), 10-Q (reporting date: 2020-07-31), 10-K (reporting date: 2020-04-24), 10-Q (reporting date: 2020-01-24), 10-Q (reporting date: 2019-10-25), 10-Q (reporting date: 2019-07-26), 10-K (reporting date: 2019-04-26), 10-Q (reporting date: 2019-01-25), 10-Q (reporting date: 2018-10-26), 10-Q (reporting date: 2018-07-27), 10-K (reporting date: 2018-04-27), 10-Q (reporting date: 2018-01-26), 10-Q (reporting date: 2017-10-27), 10-Q (reporting date: 2017-07-28).
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 Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
Receivables turnover | An activity ratio equal to revenue divided by receivables. | Medtronic PLC receivables turnover ratio deteriorated from Q1 2024 to Q2 2024 but then improved from Q2 2024 to Q3 2024 not reaching Q1 2024 level. |
Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Medtronic PLC payables turnover ratio increased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Medtronic PLC working capital turnover ratio improved from Q1 2024 to Q2 2024 but then slightly deteriorated from Q2 2024 to Q3 2024. |
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 Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | |
Operating cycle | Equal to average inventory processing period plus average receivables collection period. | |
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 Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
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 deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
Inventory Turnover
Jan 26, 2024 | Oct 27, 2023 | Jul 28, 2023 | Apr 28, 2023 | Jan 27, 2023 | Oct 28, 2022 | Jul 29, 2022 | Apr 29, 2022 | Jan 28, 2022 | Oct 29, 2021 | Jul 30, 2021 | Apr 30, 2021 | Jan 29, 2021 | 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 | |||||||||
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Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||||
Cost of products sold, excluding amortization of intangible assets | 2,782) | 2,761) | 2,628) | 2,979) | 2,689) | 2,535) | 2,516) | 2,591) | 2,459) | 2,497) | 2,598) | 2,652) | 2,621) | 2,705) | 2,505) | 2,264) | 2,400) | 2,394) | 2,366) | 2,483) | 2,265) | 2,203) | 2,204) | 2,395) | 2,191) | 2,120) | 2,349) | ||||||||
Inventories, net | 5,726) | 5,754) | 5,668) | 5,293) | 5,375) | 5,055) | 4,809) | 4,616) | 4,514) | 4,349) | 4,288) | 4,313) | 4,508) | 4,484) | 4,551) | 4,229) | 4,122) | 4,042) | 3,932) | 3,753) | 3,866) | 3,763) | 3,681) | 3,579) | 3,751) | 3,638) | 3,538) | ||||||||
Short-term Activity Ratio | |||||||||||||||||||||||||||||||||||
Inventory turnover1 | 1.95 | 1.92 | 1.91 | 2.03 | 1.92 | 2.00 | 2.09 | 2.20 | 2.26 | 2.38 | 2.47 | 2.43 | 2.24 | 2.20 | 2.10 | 2.23 | 2.34 | 2.35 | 2.37 | 2.44 | 2.35 | 2.39 | 2.42 | 2.53 | — | — | — | ||||||||
Benchmarks | |||||||||||||||||||||||||||||||||||
Inventory Turnover, Competitors2 | |||||||||||||||||||||||||||||||||||
Abbott Laboratories | — | — | — | 2.74 | 2.71 | 2.62 | 2.77 | 3.10 | 3.37 | 3.24 | 3.36 | 3.59 | 3.47 | 3.27 | 2.99 | 2.99 | 2.71 | 2.56 | 2.92 | 3.07 | — | — | — | — | — | — | — | ||||||||
Cigna Group | — | — | — | 23.70 | 29.58 | 28.53 | 30.04 | 26.13 | 30.87 | 32.34 | 34.32 | 31.58 | 37.54 | 36.13 | 36.50 | 32.70 | 37.84 | 36.30 | 38.13 | 36.70 | — | — | — | — | — | — | — | ||||||||
CVS Health Corp. | — | — | — | 16.83 | 16.34 | 16.48 | 15.15 | 14.05 | 14.46 | 14.64 | 13.60 | 13.52 | 13.49 | 13.48 | 12.57 | 11.88 | 12.43 | 13.03 | 12.68 | 12.06 | — | — | — | — | — | — | — | ||||||||
Danaher Corp. | — | — | — | 3.80 | 4.04 | 3.90 | 3.65 | 4.03 | 3.80 | 3.71 | 3.87 | 4.16 | 4.06 | 4.28 | 4.34 | 4.28 | 3.79 | 3.26 | 3.09 | 4.87 | — | — | — | — | — | — | — | ||||||||
Intuitive Surgical Inc. | — | — | — | 1.96 | 1.99 | 2.21 | 2.25 | 2.27 | 2.36 | 2.62 | 2.82 | 2.98 | 2.90 | 2.84 | 2.64 | 2.49 | 2.18 | 2.22 | 2.30 | 2.30 | — | — | — | — | — | — | — |
Based on: 10-Q (reporting date: 2024-01-26), 10-Q (reporting date: 2023-10-27), 10-Q (reporting date: 2023-07-28), 10-K (reporting date: 2023-04-28), 10-Q (reporting date: 2023-01-27), 10-Q (reporting date: 2022-10-28), 10-Q (reporting date: 2022-07-29), 10-K (reporting date: 2022-04-29), 10-Q (reporting date: 2022-01-28), 10-Q (reporting date: 2021-10-29), 10-Q (reporting date: 2021-07-30), 10-K (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-29), 10-Q (reporting date: 2020-10-30), 10-Q (reporting date: 2020-07-31), 10-K (reporting date: 2020-04-24), 10-Q (reporting date: 2020-01-24), 10-Q (reporting date: 2019-10-25), 10-Q (reporting date: 2019-07-26), 10-K (reporting date: 2019-04-26), 10-Q (reporting date: 2019-01-25), 10-Q (reporting date: 2018-10-26), 10-Q (reporting date: 2018-07-27), 10-K (reporting date: 2018-04-27), 10-Q (reporting date: 2018-01-26), 10-Q (reporting date: 2017-10-27), 10-Q (reporting date: 2017-07-28).
1 Q3 2024 Calculation
Inventory turnover
= (Cost of products sold, excluding amortization of intangible assetsQ3 2024
+ Cost of products sold, excluding amortization of intangible assetsQ2 2024
+ Cost of products sold, excluding amortization of intangible assetsQ1 2024
+ Cost of products sold, excluding amortization of intangible assetsQ4 2023)
÷ Inventories, net
= (2,782 + 2,761 + 2,628 + 2,979)
÷ 5,726 = 1.95
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 Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
Receivables Turnover
Jan 26, 2024 | Oct 27, 2023 | Jul 28, 2023 | Apr 28, 2023 | Jan 27, 2023 | Oct 28, 2022 | Jul 29, 2022 | Apr 29, 2022 | Jan 28, 2022 | Oct 29, 2021 | Jul 30, 2021 | Apr 30, 2021 | Jan 29, 2021 | 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 | |||||||||
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Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||||
Net sales | 8,089) | 7,984) | 7,702) | 8,544) | 7,727) | 7,585) | 7,371) | 8,089) | 7,763) | 7,847) | 7,987) | 8,188) | 7,775) | 7,647) | 6,507) | 5,997) | 7,717) | 7,706) | 7,493) | 8,146) | 7,546) | 7,481) | 7,384) | 8,144) | 7,369) | 7,050) | 7,390) | ||||||||
Accounts receivable, less allowances and credit losses | 5,968) | 5,934) | 5,806) | 5,998) | 5,887) | 5,626) | 5,308) | 5,551) | 5,446) | 5,493) | 5,431) | 5,462) | 5,215) | 5,348) | 4,876) | 4,645) | 6,248) | 6,118) | 5,894) | 6,222) | 5,854) | 5,743) | 5,674) | 5,987) | 5,775) | 5,752) | 5,784) | ||||||||
Short-term Activity Ratio | |||||||||||||||||||||||||||||||||||
Receivables turnover1 | 5.42 | 5.39 | 5.44 | 5.21 | 5.23 | 5.48 | 5.85 | 5.71 | 5.84 | 5.79 | 5.82 | 5.51 | 5.35 | 5.21 | 5.73 | 6.22 | 4.97 | 5.05 | 5.20 | 4.91 | 5.22 | 5.29 | 5.28 | 5.00 | — | — | — | ||||||||
Benchmarks | |||||||||||||||||||||||||||||||||||
Receivables Turnover, Competitors2 | |||||||||||||||||||||||||||||||||||
Abbott Laboratories | — | — | — | 6.11 | 6.15 | 6.52 | 6.89 | 7.02 | 7.03 | 6.33 | 6.20 | 6.64 | 6.61 | 6.58 | 6.13 | 5.40 | 5.70 | 6.12 | 6.06 | 5.88 | — | — | — | — | — | — | — | ||||||||
CVS Health Corp. | — | — | — | 10.12 | 10.53 | 11.44 | 11.65 | 11.79 | 11.94 | 11.27 | 11.30 | 11.91 | 11.23 | 11.48 | 11.32 | 12.32 | 11.14 | 11.68 | 11.33 | 13.04 | — | — | — | — | — | — | — | ||||||||
Danaher Corp. | — | — | — | 6.09 | 7.04 | 7.23 | 7.18 | 6.40 | 7.09 | 6.81 | 6.87 | 6.36 | 6.69 | 6.51 | 6.28 | 5.51 | 5.83 | 5.59 | 5.25 | 5.61 | — | — | — | — | — | — | — | ||||||||
Elevance Health Inc. | — | — | — | 18.08 | 17.93 | 18.82 | 16.53 | 18.81 | 19.51 | 18.80 | 16.67 | 20.66 | 18.93 | 18.81 | 17.39 | 19.72 | 18.91 | 18.04 | 16.74 | 18.20 | — | — | — | — | — | — | — | ||||||||
Humana Inc. | — | — | — | 51.75 | 55.60 | 68.53 | 30.60 | 55.25 | 56.74 | 26.54 | 27.18 | 45.69 | 42.91 | 32.51 | 35.43 | 66.78 | 64.58 | 31.30 | 33.43 | 60.97 | — | — | — | — | — | — | — | ||||||||
Intuitive Surgical Inc. | — | — | — | 6.30 | 7.12 | 7.37 | 6.95 | 6.60 | 7.20 | 7.11 | 6.52 | 7.30 | 7.90 | 7.38 | 6.96 | 6.75 | 7.32 | 8.56 | 8.73 | 6.94 | — | — | — | — | — | — | — | ||||||||
UnitedHealth Group Inc. | — | — | — | 17.27 | 17.23 | 19.23 | 14.88 | 18.22 | 18.37 | 16.27 | 15.65 | 20.07 | 19.60 | 18.53 | 16.35 | 19.86 | 20.63 | 19.62 | 16.73 | 20.32 | — | — | — | — | — | — | — |
Based on: 10-Q (reporting date: 2024-01-26), 10-Q (reporting date: 2023-10-27), 10-Q (reporting date: 2023-07-28), 10-K (reporting date: 2023-04-28), 10-Q (reporting date: 2023-01-27), 10-Q (reporting date: 2022-10-28), 10-Q (reporting date: 2022-07-29), 10-K (reporting date: 2022-04-29), 10-Q (reporting date: 2022-01-28), 10-Q (reporting date: 2021-10-29), 10-Q (reporting date: 2021-07-30), 10-K (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-29), 10-Q (reporting date: 2020-10-30), 10-Q (reporting date: 2020-07-31), 10-K (reporting date: 2020-04-24), 10-Q (reporting date: 2020-01-24), 10-Q (reporting date: 2019-10-25), 10-Q (reporting date: 2019-07-26), 10-K (reporting date: 2019-04-26), 10-Q (reporting date: 2019-01-25), 10-Q (reporting date: 2018-10-26), 10-Q (reporting date: 2018-07-27), 10-K (reporting date: 2018-04-27), 10-Q (reporting date: 2018-01-26), 10-Q (reporting date: 2017-10-27), 10-Q (reporting date: 2017-07-28).
1 Q3 2024 Calculation
Receivables turnover
= (Net salesQ3 2024
+ Net salesQ2 2024
+ Net salesQ1 2024
+ Net salesQ4 2023)
÷ Accounts receivable, less allowances and credit losses
= (8,089 + 7,984 + 7,702 + 8,544)
÷ 5,968 = 5.42
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 Q1 2024 to Q2 2024 but then improved from Q2 2024 to Q3 2024 not reaching Q1 2024 level. |
Payables Turnover
Jan 26, 2024 | Oct 27, 2023 | Jul 28, 2023 | Apr 28, 2023 | Jan 27, 2023 | Oct 28, 2022 | Jul 29, 2022 | Apr 29, 2022 | Jan 28, 2022 | Oct 29, 2021 | Jul 30, 2021 | Apr 30, 2021 | Jan 29, 2021 | 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 | |||||||||
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Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||||
Cost of products sold, excluding amortization of intangible assets | 2,782) | 2,761) | 2,628) | 2,979) | 2,689) | 2,535) | 2,516) | 2,591) | 2,459) | 2,497) | 2,598) | 2,652) | 2,621) | 2,705) | 2,505) | 2,264) | 2,400) | 2,394) | 2,366) | 2,483) | 2,265) | 2,203) | 2,204) | 2,395) | 2,191) | 2,120) | 2,349) | ||||||||
Accounts payable | 1,992) | 2,174) | 2,239) | 2,662) | 2,209) | 2,198) | 2,180) | 2,276) | 1,985) | 1,917) | 1,864) | 2,106) | 1,816) | 1,902) | 1,720) | 1,996) | 1,945) | 1,965) | 1,906) | 1,953) | 1,706) | 1,742) | 1,789) | 1,628) | 1,809) | 1,718) | 1,759) | ||||||||
Short-term Activity Ratio | |||||||||||||||||||||||||||||||||||
Payables turnover1 | 5.60 | 5.09 | 4.84 | 4.03 | 4.68 | 4.60 | 4.62 | 4.46 | 5.14 | 5.41 | 5.67 | 4.98 | 5.56 | 5.19 | 5.56 | 4.72 | 4.96 | 4.84 | 4.89 | 4.69 | 5.31 | 5.16 | 4.98 | 5.56 | — | — | — | ||||||||
Benchmarks | |||||||||||||||||||||||||||||||||||
Payables Turnover, Competitors2 | |||||||||||||||||||||||||||||||||||
Abbott Laboratories | — | — | — | 4.19 | 4.55 | 4.28 | 4.44 | 4.15 | 4.67 | 4.25 | 4.02 | 4.21 | 4.55 | 4.43 | 3.97 | 3.80 | 4.37 | 4.00 | 4.20 | 4.07 | — | — | — | — | — | — | — | ||||||||
Cigna Group | — | — | — | 6.75 | 6.76 | 6.92 | 7.18 | 7.31 | 7.44 | 7.44 | 7.89 | 7.68 | 7.71 | 7.60 | 7.74 | 7.75 | 8.02 | 8.30 | 9.06 | 9.34 | — | — | — | — | — | — | — | ||||||||
CVS Health Corp. | — | — | — | 20.36 | 19.73 | 21.32 | 22.08 | 18.07 | 18.75 | 19.22 | 19.38 | 19.14 | 18.49 | 20.72 | 20.50 | 19.72 | 18.61 | 21.70 | 21.06 | 20.13 | — | — | — | — | — | — | — | ||||||||
Danaher Corp. | — | — | — | 5.58 | 6.45 | 6.35 | 5.93 | 5.45 | 5.61 | 5.00 | 5.04 | 4.48 | 5.20 | 5.54 | 5.29 | 4.79 | 5.46 | 5.28 | 4.55 | 5.23 | — | — | — | — | — | — | — | ||||||||
Elevance Health Inc. | — | — | — | 7.72 | 7.61 | 7.54 | 7.57 | 7.47 | 7.48 | 7.35 | 7.28 | 7.59 | 7.31 | 7.30 | 7.31 | 7.75 | 8.32 | 8.42 | 8.48 | 9.25 | — | — | — | — | — | — | — | ||||||||
Humana Inc. | — | — | — | 8.63 | 8.26 | 7.84 | 7.78 | 8.17 | 8.07 | 7.61 | 7.63 | 8.35 | 7.76 | 7.81 | 7.32 | 7.57 | 7.20 | 7.12 | 7.90 | 8.97 | — | — | — | — | — | — | — | ||||||||
Intuitive Surgical Inc. | — | — | — | 12.69 | 11.66 | 11.10 | 12.99 | 13.78 | 12.01 | 12.68 | 14.36 | 14.45 | 14.13 | 13.71 | 14.80 | 18.35 | 12.46 | 13.18 | 10.69 | 11.08 | — | — | — | — | — | — | — | ||||||||
UnitedHealth Group Inc. | — | — | — | 7.47 | 7.11 | 7.08 | 6.86 | 7.26 | 7.07 | 6.90 | 6.78 | 7.63 | 6.98 | 6.97 | 6.58 | 7.29 | 7.40 | 8.02 | 6.96 | 7.21 | — | — | — | — | — | — | — |
Based on: 10-Q (reporting date: 2024-01-26), 10-Q (reporting date: 2023-10-27), 10-Q (reporting date: 2023-07-28), 10-K (reporting date: 2023-04-28), 10-Q (reporting date: 2023-01-27), 10-Q (reporting date: 2022-10-28), 10-Q (reporting date: 2022-07-29), 10-K (reporting date: 2022-04-29), 10-Q (reporting date: 2022-01-28), 10-Q (reporting date: 2021-10-29), 10-Q (reporting date: 2021-07-30), 10-K (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-29), 10-Q (reporting date: 2020-10-30), 10-Q (reporting date: 2020-07-31), 10-K (reporting date: 2020-04-24), 10-Q (reporting date: 2020-01-24), 10-Q (reporting date: 2019-10-25), 10-Q (reporting date: 2019-07-26), 10-K (reporting date: 2019-04-26), 10-Q (reporting date: 2019-01-25), 10-Q (reporting date: 2018-10-26), 10-Q (reporting date: 2018-07-27), 10-K (reporting date: 2018-04-27), 10-Q (reporting date: 2018-01-26), 10-Q (reporting date: 2017-10-27), 10-Q (reporting date: 2017-07-28).
1 Q3 2024 Calculation
Payables turnover
= (Cost of products sold, excluding amortization of intangible assetsQ3 2024
+ Cost of products sold, excluding amortization of intangible assetsQ2 2024
+ Cost of products sold, excluding amortization of intangible assetsQ1 2024
+ Cost of products sold, excluding amortization of intangible assetsQ4 2023)
÷ Accounts payable
= (2,782 + 2,761 + 2,628 + 2,979)
÷ 1,992 = 5.60
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 Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
Working Capital Turnover
Jan 26, 2024 | Oct 27, 2023 | Jul 28, 2023 | Apr 28, 2023 | Jan 27, 2023 | Oct 28, 2022 | Jul 29, 2022 | Apr 29, 2022 | Jan 28, 2022 | Oct 29, 2021 | Jul 30, 2021 | Apr 30, 2021 | Jan 29, 2021 | 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 | |||||||||
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Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||||
Current assets | 22,513) | 22,081) | 21,869) | 21,675) | 25,364) | 25,398) | 22,135) | 23,059) | 23,303) | 22,731) | 22,434) | 22,548) | 26,347) | 26,036) | 24,509) | 22,031) | 24,043) | 22,653) | 22,705) | 21,967) | 20,877) | 21,653) | 22,460) | 22,980) | 26,607) | 25,162) | 24,779) | ||||||||
Less: Current liabilities | 9,793) | 9,659) | 9,047) | 9,051) | 14,422) | 14,465) | 14,049) | 12,394) | 8,927) | 7,803) | 7,764) | 8,509) | 12,534) | 12,071) | 13,086) | 10,366) | 8,735) | 8,170) | 8,518) | 8,472) | 8,853) | 8,463) | 9,112) | 10,084) | 10,933) | 10,496) | 15,148) | ||||||||
Working capital | 12,720) | 12,422) | 12,822) | 12,624) | 10,942) | 10,933) | 8,086) | 10,665) | 14,376) | 14,928) | 14,670) | 14,039) | 13,813) | 13,965) | 11,423) | 11,665) | 15,308) | 14,483) | 14,187) | 13,495) | 12,024) | 13,190) | 13,348) | 12,896) | 15,674) | 14,666) | 9,631) | ||||||||
Net sales | 8,089) | 7,984) | 7,702) | 8,544) | 7,727) | 7,585) | 7,371) | 8,089) | 7,763) | 7,847) | 7,987) | 8,188) | 7,775) | 7,647) | 6,507) | 5,997) | 7,717) | 7,706) | 7,493) | 8,146) | 7,546) | 7,481) | 7,384) | 8,144) | 7,369) | 7,050) | 7,390) | ||||||||
Short-term Activity Ratio | |||||||||||||||||||||||||||||||||||
Working capital turnover1 | 2.54 | 2.57 | 2.46 | 2.47 | 2.81 | 2.82 | 3.84 | 2.97 | 2.21 | 2.13 | 2.15 | 2.15 | 2.02 | 2.00 | 2.44 | 2.48 | 2.03 | 2.13 | 2.16 | 2.26 | 2.54 | 2.30 | 2.24 | 2.32 | — | — | — | ||||||||
Benchmarks | |||||||||||||||||||||||||||||||||||
Working Capital Turnover, Competitors2 | |||||||||||||||||||||||||||||||||||
Abbott Laboratories | — | — | — | 4.54 | 4.15 | 4.39 | 4.21 | 4.48 | 3.92 | 3.63 | 4.13 | 3.87 | 3.98 | 4.02 | 3.99 | 4.06 | 4.52 | 5.02 | 6.84 | 6.64 | — | — | — | — | — | — | — | ||||||||
Cigna Group | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
CVS Health Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
Danaher Corp. | — | — | — | 4.22 | 2.50 | 3.35 | 3.97 | 4.20 | 5.00 | 5.43 | 5.91 | 8.40 | 7.98 | 3.12 | 3.45 | 3.48 | 3.14 | 2.80 | 6.74 | 0.87 | — | — | — | — | — | — | — | ||||||||
Elevance Health Inc. | — | — | — | 7.83 | 7.92 | 7.69 | 7.60 | 8.37 | 9.11 | 8.85 | 8.65 | 7.23 | 6.79 | 6.67 | 5.38 | 6.39 | 5.98 | 5.40 | 6.81 | 6.11 | — | — | — | — | — | — | — | ||||||||
Humana Inc. | — | — | — | 9.47 | 9.72 | 9.34 | 8.98 | 10.27 | 10.54 | 9.53 | 9.27 | 8.67 | 7.47 | 7.38 | 7.61 | 7.42 | 6.04 | 6.14 | 6.91 | 7.19 | — | — | — | — | — | — | — | ||||||||
Intuitive Surgical Inc. | — | — | — | 1.14 | 0.95 | 1.03 | 1.15 | 1.29 | 1.21 | 1.17 | 1.26 | 1.22 | 1.17 | 1.03 | 0.88 | 0.77 | 0.80 | 0.88 | 1.23 | 1.23 | — | — | — | — | — | — | — | ||||||||
UnitedHealth Group Inc. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Based on: 10-Q (reporting date: 2024-01-26), 10-Q (reporting date: 2023-10-27), 10-Q (reporting date: 2023-07-28), 10-K (reporting date: 2023-04-28), 10-Q (reporting date: 2023-01-27), 10-Q (reporting date: 2022-10-28), 10-Q (reporting date: 2022-07-29), 10-K (reporting date: 2022-04-29), 10-Q (reporting date: 2022-01-28), 10-Q (reporting date: 2021-10-29), 10-Q (reporting date: 2021-07-30), 10-K (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-29), 10-Q (reporting date: 2020-10-30), 10-Q (reporting date: 2020-07-31), 10-K (reporting date: 2020-04-24), 10-Q (reporting date: 2020-01-24), 10-Q (reporting date: 2019-10-25), 10-Q (reporting date: 2019-07-26), 10-K (reporting date: 2019-04-26), 10-Q (reporting date: 2019-01-25), 10-Q (reporting date: 2018-10-26), 10-Q (reporting date: 2018-07-27), 10-K (reporting date: 2018-04-27), 10-Q (reporting date: 2018-01-26), 10-Q (reporting date: 2017-10-27), 10-Q (reporting date: 2017-07-28).
1 Q3 2024 Calculation
Working capital turnover
= (Net salesQ3 2024
+ Net salesQ2 2024
+ Net salesQ1 2024
+ Net salesQ4 2023)
÷ Working capital
= (8,089 + 7,984 + 7,702 + 8,544)
÷ 12,720 = 2.54
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 improved from Q1 2024 to Q2 2024 but then slightly deteriorated from Q2 2024 to Q3 2024. |
Average Inventory Processing Period
Jan 26, 2024 | Oct 27, 2023 | Jul 28, 2023 | Apr 28, 2023 | Jan 27, 2023 | Oct 28, 2022 | Jul 29, 2022 | Apr 29, 2022 | Jan 28, 2022 | Oct 29, 2021 | Jul 30, 2021 | Apr 30, 2021 | Jan 29, 2021 | 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 | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data | |||||||||||||||||||||||||||||||||||
Inventory turnover | 1.95 | 1.92 | 1.91 | 2.03 | 1.92 | 2.00 | 2.09 | 2.20 | 2.26 | 2.38 | 2.47 | 2.43 | 2.24 | 2.20 | 2.10 | 2.23 | 2.34 | 2.35 | 2.37 | 2.44 | 2.35 | 2.39 | 2.42 | 2.53 | — | — | — | ||||||||
Short-term Activity Ratio (no. days) | |||||||||||||||||||||||||||||||||||
Average inventory processing period1 | 187 | 190 | 191 | 180 | 190 | 183 | 174 | 166 | 161 | 153 | 148 | 150 | 163 | 166 | 174 | 164 | 156 | 155 | 154 | 150 | 156 | 153 | 151 | 144 | — | — | — | ||||||||
Benchmarks (no. days) | |||||||||||||||||||||||||||||||||||
Average Inventory Processing Period, Competitors2 | |||||||||||||||||||||||||||||||||||
Abbott Laboratories | — | — | — | 133 | 135 | 139 | 132 | 118 | 108 | 113 | 109 | 102 | 105 | 111 | 122 | 122 | 135 | 142 | 125 | 119 | — | — | — | — | — | — | — | ||||||||
Cigna Group | — | — | — | 15 | 12 | 13 | 12 | 14 | 12 | 11 | 11 | 12 | 10 | 10 | 10 | 11 | 10 | 10 | 10 | 10 | — | — | — | — | — | — | — | ||||||||
CVS Health Corp. | — | — | — | 22 | 22 | 22 | 24 | 26 | 25 | 25 | 27 | 27 | 27 | 27 | 29 | 31 | 29 | 28 | 29 | 30 | — | — | — | — | — | — | — | ||||||||
Danaher Corp. | — | — | — | 96 | 90 | 94 | 100 | 91 | 96 | 98 | 94 | 88 | 90 | 85 | 84 | 85 | 96 | 112 | 118 | 75 | — | — | — | — | — | — | — | ||||||||
Intuitive Surgical Inc. | — | — | — | 186 | 183 | 166 | 162 | 161 | 155 | 139 | 130 | 122 | 126 | 129 | 138 | 147 | 167 | 164 | 159 | 159 | — | — | — | — | — | — | — |
Based on: 10-Q (reporting date: 2024-01-26), 10-Q (reporting date: 2023-10-27), 10-Q (reporting date: 2023-07-28), 10-K (reporting date: 2023-04-28), 10-Q (reporting date: 2023-01-27), 10-Q (reporting date: 2022-10-28), 10-Q (reporting date: 2022-07-29), 10-K (reporting date: 2022-04-29), 10-Q (reporting date: 2022-01-28), 10-Q (reporting date: 2021-10-29), 10-Q (reporting date: 2021-07-30), 10-K (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-29), 10-Q (reporting date: 2020-10-30), 10-Q (reporting date: 2020-07-31), 10-K (reporting date: 2020-04-24), 10-Q (reporting date: 2020-01-24), 10-Q (reporting date: 2019-10-25), 10-Q (reporting date: 2019-07-26), 10-K (reporting date: 2019-04-26), 10-Q (reporting date: 2019-01-25), 10-Q (reporting date: 2018-10-26), 10-Q (reporting date: 2018-07-27), 10-K (reporting date: 2018-04-27), 10-Q (reporting date: 2018-01-26), 10-Q (reporting date: 2017-10-27), 10-Q (reporting date: 2017-07-28).
1 Q3 2024 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 1.95 = 187
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 Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
Average Receivable Collection Period
Jan 26, 2024 | Oct 27, 2023 | Jul 28, 2023 | Apr 28, 2023 | Jan 27, 2023 | Oct 28, 2022 | Jul 29, 2022 | Apr 29, 2022 | Jan 28, 2022 | Oct 29, 2021 | Jul 30, 2021 | Apr 30, 2021 | Jan 29, 2021 | 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 | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data | |||||||||||||||||||||||||||||||||||
Receivables turnover | 5.42 | 5.39 | 5.44 | 5.21 | 5.23 | 5.48 | 5.85 | 5.71 | 5.84 | 5.79 | 5.82 | 5.51 | 5.35 | 5.21 | 5.73 | 6.22 | 4.97 | 5.05 | 5.20 | 4.91 | 5.22 | 5.29 | 5.28 | 5.00 | — | — | — | ||||||||
Short-term Activity Ratio (no. days) | |||||||||||||||||||||||||||||||||||
Average receivable collection period1 | 67 | 68 | 67 | 70 | 70 | 67 | 62 | 64 | 63 | 63 | 63 | 66 | 68 | 70 | 64 | 59 | 73 | 72 | 70 | 74 | 70 | 69 | 69 | 73 | — | — | — | ||||||||
Benchmarks (no. days) | |||||||||||||||||||||||||||||||||||
Average Receivable Collection Period, Competitors2 | |||||||||||||||||||||||||||||||||||
Abbott Laboratories | — | — | — | 60 | 59 | 56 | 53 | 52 | 52 | 58 | 59 | 55 | 55 | 55 | 60 | 68 | 64 | 60 | 60 | 62 | — | — | — | — | — | — | — | ||||||||
CVS Health Corp. | — | — | — | 36 | 35 | 32 | 31 | 31 | 31 | 32 | 32 | 31 | 32 | 32 | 32 | 30 | 33 | 31 | 32 | 28 | — | — | — | — | — | — | — | ||||||||
Danaher Corp. | — | — | — | 60 | 52 | 50 | 51 | 57 | 51 | 54 | 53 | 57 | 55 | 56 | 58 | 66 | 63 | 65 | 69 | 65 | — | — | — | — | — | — | — | ||||||||
Elevance Health Inc. | — | — | — | 20 | 20 | 19 | 22 | 19 | 19 | 19 | 22 | 18 | 19 | 19 | 21 | 19 | 19 | 20 | 22 | 20 | — | — | — | — | — | — | — | ||||||||
Humana Inc. | — | — | — | 7 | 7 | 5 | 12 | 7 | 6 | 14 | 13 | 8 | 9 | 11 | 10 | 5 | 6 | 12 | 11 | 6 | — | — | — | — | — | — | — | ||||||||
Intuitive Surgical Inc. | — | — | — | 58 | 51 | 50 | 53 | 55 | 51 | 51 | 56 | 50 | 46 | 49 | 52 | 54 | 50 | 43 | 42 | 53 | — | — | — | — | — | — | — | ||||||||
UnitedHealth Group Inc. | — | — | — | 21 | 21 | 19 | 25 | 20 | 20 | 22 | 23 | 18 | 19 | 20 | 22 | 18 | 18 | 19 | 22 | 18 | — | — | — | — | — | — | — |
Based on: 10-Q (reporting date: 2024-01-26), 10-Q (reporting date: 2023-10-27), 10-Q (reporting date: 2023-07-28), 10-K (reporting date: 2023-04-28), 10-Q (reporting date: 2023-01-27), 10-Q (reporting date: 2022-10-28), 10-Q (reporting date: 2022-07-29), 10-K (reporting date: 2022-04-29), 10-Q (reporting date: 2022-01-28), 10-Q (reporting date: 2021-10-29), 10-Q (reporting date: 2021-07-30), 10-K (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-29), 10-Q (reporting date: 2020-10-30), 10-Q (reporting date: 2020-07-31), 10-K (reporting date: 2020-04-24), 10-Q (reporting date: 2020-01-24), 10-Q (reporting date: 2019-10-25), 10-Q (reporting date: 2019-07-26), 10-K (reporting date: 2019-04-26), 10-Q (reporting date: 2019-01-25), 10-Q (reporting date: 2018-10-26), 10-Q (reporting date: 2018-07-27), 10-K (reporting date: 2018-04-27), 10-Q (reporting date: 2018-01-26), 10-Q (reporting date: 2017-10-27), 10-Q (reporting date: 2017-07-28).
1 Q3 2024 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 5.42 = 67
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. |
Operating Cycle
Jan 26, 2024 | Oct 27, 2023 | Jul 28, 2023 | Apr 28, 2023 | Jan 27, 2023 | Oct 28, 2022 | Jul 29, 2022 | Apr 29, 2022 | Jan 28, 2022 | Oct 29, 2021 | Jul 30, 2021 | Apr 30, 2021 | Jan 29, 2021 | 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 | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data | |||||||||||||||||||||||||||||||||||
Average inventory processing period | 187 | 190 | 191 | 180 | 190 | 183 | 174 | 166 | 161 | 153 | 148 | 150 | 163 | 166 | 174 | 164 | 156 | 155 | 154 | 150 | 156 | 153 | 151 | 144 | — | — | — | ||||||||
Average receivable collection period | 67 | 68 | 67 | 70 | 70 | 67 | 62 | 64 | 63 | 63 | 63 | 66 | 68 | 70 | 64 | 59 | 73 | 72 | 70 | 74 | 70 | 69 | 69 | 73 | — | — | — | ||||||||
Short-term Activity Ratio | |||||||||||||||||||||||||||||||||||
Operating cycle1 | 254 | 258 | 258 | 250 | 260 | 250 | 236 | 230 | 224 | 216 | 211 | 216 | 231 | 236 | 238 | 223 | 229 | 227 | 224 | 224 | 226 | 222 | 220 | 217 | — | — | — | ||||||||
Benchmarks | |||||||||||||||||||||||||||||||||||
Operating Cycle, Competitors2 | |||||||||||||||||||||||||||||||||||
Abbott Laboratories | — | — | — | 193 | 194 | 195 | 185 | 170 | 160 | 171 | 168 | 157 | 160 | 166 | 182 | 190 | 199 | 202 | 185 | 181 | — | — | — | — | — | — | — | ||||||||
CVS Health Corp. | — | — | — | 58 | 57 | 54 | 55 | 57 | 56 | 57 | 59 | 58 | 59 | 59 | 61 | 61 | 62 | 59 | 61 | 58 | — | — | — | — | — | — | — | ||||||||
Danaher Corp. | — | — | — | 156 | 142 | 144 | 151 | 148 | 147 | 152 | 147 | 145 | 145 | 141 | 142 | 151 | 159 | 177 | 187 | 140 | — | — | — | — | — | — | — | ||||||||
Intuitive Surgical Inc. | — | — | — | 244 | 234 | 216 | 215 | 216 | 206 | 190 | 186 | 172 | 172 | 178 | 190 | 201 | 217 | 207 | 201 | 212 | — | — | — | — | — | — | — |
Based on: 10-Q (reporting date: 2024-01-26), 10-Q (reporting date: 2023-10-27), 10-Q (reporting date: 2023-07-28), 10-K (reporting date: 2023-04-28), 10-Q (reporting date: 2023-01-27), 10-Q (reporting date: 2022-10-28), 10-Q (reporting date: 2022-07-29), 10-K (reporting date: 2022-04-29), 10-Q (reporting date: 2022-01-28), 10-Q (reporting date: 2021-10-29), 10-Q (reporting date: 2021-07-30), 10-K (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-29), 10-Q (reporting date: 2020-10-30), 10-Q (reporting date: 2020-07-31), 10-K (reporting date: 2020-04-24), 10-Q (reporting date: 2020-01-24), 10-Q (reporting date: 2019-10-25), 10-Q (reporting date: 2019-07-26), 10-K (reporting date: 2019-04-26), 10-Q (reporting date: 2019-01-25), 10-Q (reporting date: 2018-10-26), 10-Q (reporting date: 2018-07-27), 10-K (reporting date: 2018-04-27), 10-Q (reporting date: 2018-01-26), 10-Q (reporting date: 2017-10-27), 10-Q (reporting date: 2017-07-28).
1 Q3 2024 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 187 + 67 = 254
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. |
Average Payables Payment Period
Jan 26, 2024 | Oct 27, 2023 | Jul 28, 2023 | Apr 28, 2023 | Jan 27, 2023 | Oct 28, 2022 | Jul 29, 2022 | Apr 29, 2022 | Jan 28, 2022 | Oct 29, 2021 | Jul 30, 2021 | Apr 30, 2021 | Jan 29, 2021 | 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 | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data | |||||||||||||||||||||||||||||||||||
Payables turnover | 5.60 | 5.09 | 4.84 | 4.03 | 4.68 | 4.60 | 4.62 | 4.46 | 5.14 | 5.41 | 5.67 | 4.98 | 5.56 | 5.19 | 5.56 | 4.72 | 4.96 | 4.84 | 4.89 | 4.69 | 5.31 | 5.16 | 4.98 | 5.56 | — | — | — | ||||||||
Short-term Activity Ratio (no. days) | |||||||||||||||||||||||||||||||||||
Average payables payment period1 | 65 | 72 | 75 | 91 | 78 | 79 | 79 | 82 | 71 | 67 | 64 | 73 | 66 | 70 | 66 | 77 | 74 | 75 | 75 | 78 | 69 | 71 | 73 | 66 | — | — | — | ||||||||
Benchmarks (no. days) | |||||||||||||||||||||||||||||||||||
Average Payables Payment Period, Competitors2 | |||||||||||||||||||||||||||||||||||
Abbott Laboratories | — | — | — | 87 | 80 | 85 | 82 | 88 | 78 | 86 | 91 | 87 | 80 | 82 | 92 | 96 | 83 | 91 | 87 | 90 | — | — | — | — | — | — | — | ||||||||
Cigna Group | — | — | — | 54 | 54 | 53 | 51 | 50 | 49 | 49 | 46 | 48 | 47 | 48 | 47 | 47 | 46 | 44 | 40 | 39 | — | — | — | — | — | — | — | ||||||||
CVS Health Corp. | — | — | — | 18 | 19 | 17 | 17 | 20 | 19 | 19 | 19 | 19 | 20 | 18 | 18 | 19 | 20 | 17 | 17 | 18 | — | — | — | — | — | — | — | ||||||||
Danaher Corp. | — | — | — | 65 | 57 | 57 | 62 | 67 | 65 | 73 | 72 | 82 | 70 | 66 | 69 | 76 | 67 | 69 | 80 | 70 | — | — | — | — | — | — | — | ||||||||
Elevance Health Inc. | — | — | — | 47 | 48 | 48 | 48 | 49 | 49 | 50 | 50 | 48 | 50 | 50 | 50 | 47 | 44 | 43 | 43 | 39 | — | — | — | — | — | — | — | ||||||||
Humana Inc. | — | — | — | 42 | 44 | 47 | 47 | 45 | 45 | 48 | 48 | 44 | 47 | 47 | 50 | 48 | 51 | 51 | 46 | 41 | — | — | — | — | — | — | — | ||||||||
Intuitive Surgical Inc. | — | — | — | 29 | 31 | 33 | 28 | 26 | 30 | 29 | 25 | 25 | 26 | 27 | 25 | 20 | 29 | 28 | 34 | 33 | — | — | — | — | — | — | — | ||||||||
UnitedHealth Group Inc. | — | — | — | 49 | 51 | 52 | 53 | 50 | 52 | 53 | 54 | 48 | 52 | 52 | 56 | 50 | 49 | 46 | 52 | 51 | — | — | — | — | — | — | — |
Based on: 10-Q (reporting date: 2024-01-26), 10-Q (reporting date: 2023-10-27), 10-Q (reporting date: 2023-07-28), 10-K (reporting date: 2023-04-28), 10-Q (reporting date: 2023-01-27), 10-Q (reporting date: 2022-10-28), 10-Q (reporting date: 2022-07-29), 10-K (reporting date: 2022-04-29), 10-Q (reporting date: 2022-01-28), 10-Q (reporting date: 2021-10-29), 10-Q (reporting date: 2021-07-30), 10-K (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-29), 10-Q (reporting date: 2020-10-30), 10-Q (reporting date: 2020-07-31), 10-K (reporting date: 2020-04-24), 10-Q (reporting date: 2020-01-24), 10-Q (reporting date: 2019-10-25), 10-Q (reporting date: 2019-07-26), 10-K (reporting date: 2019-04-26), 10-Q (reporting date: 2019-01-25), 10-Q (reporting date: 2018-10-26), 10-Q (reporting date: 2018-07-27), 10-K (reporting date: 2018-04-27), 10-Q (reporting date: 2018-01-26), 10-Q (reporting date: 2017-10-27), 10-Q (reporting date: 2017-07-28).
1 Q3 2024 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 5.60 = 65
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 Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
Cash Conversion Cycle
Jan 26, 2024 | Oct 27, 2023 | Jul 28, 2023 | Apr 28, 2023 | Jan 27, 2023 | Oct 28, 2022 | Jul 29, 2022 | Apr 29, 2022 | Jan 28, 2022 | Oct 29, 2021 | Jul 30, 2021 | Apr 30, 2021 | Jan 29, 2021 | 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 | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data | |||||||||||||||||||||||||||||||||||
Average inventory processing period | 187 | 190 | 191 | 180 | 190 | 183 | 174 | 166 | 161 | 153 | 148 | 150 | 163 | 166 | 174 | 164 | 156 | 155 | 154 | 150 | 156 | 153 | 151 | 144 | — | — | — | ||||||||
Average receivable collection period | 67 | 68 | 67 | 70 | 70 | 67 | 62 | 64 | 63 | 63 | 63 | 66 | 68 | 70 | 64 | 59 | 73 | 72 | 70 | 74 | 70 | 69 | 69 | 73 | — | — | — | ||||||||
Average payables payment period | 65 | 72 | 75 | 91 | 78 | 79 | 79 | 82 | 71 | 67 | 64 | 73 | 66 | 70 | 66 | 77 | 74 | 75 | 75 | 78 | 69 | 71 | 73 | 66 | — | — | — | ||||||||
Short-term Activity Ratio | |||||||||||||||||||||||||||||||||||
Cash conversion cycle1 | 189 | 186 | 183 | 159 | 182 | 171 | 157 | 148 | 153 | 149 | 147 | 143 | 165 | 166 | 172 | 146 | 155 | 152 | 149 | 146 | 157 | 151 | 147 | 151 | — | — | — | ||||||||
Benchmarks | |||||||||||||||||||||||||||||||||||
Cash Conversion Cycle, Competitors2 | |||||||||||||||||||||||||||||||||||
Abbott Laboratories | — | — | — | 106 | 114 | 110 | 103 | 82 | 82 | 85 | 77 | 70 | 80 | 84 | 90 | 94 | 116 | 111 | 98 | 91 | — | — | — | — | — | — | — | ||||||||
CVS Health Corp. | — | — | — | 40 | 38 | 37 | 38 | 37 | 37 | 38 | 40 | 39 | 39 | 41 | 43 | 42 | 42 | 42 | 44 | 40 | — | — | — | — | — | — | — | ||||||||
Danaher Corp. | — | — | — | 91 | 85 | 87 | 89 | 81 | 82 | 79 | 75 | 63 | 75 | 75 | 73 | 75 | 92 | 108 | 107 | 70 | — | — | — | — | — | — | — | ||||||||
Intuitive Surgical Inc. | — | — | — | 215 | 203 | 183 | 187 | 190 | 176 | 161 | 161 | 147 | 146 | 151 | 165 | 181 | 188 | 179 | 167 | 179 | — | — | — | — | — | — | — |
Based on: 10-Q (reporting date: 2024-01-26), 10-Q (reporting date: 2023-10-27), 10-Q (reporting date: 2023-07-28), 10-K (reporting date: 2023-04-28), 10-Q (reporting date: 2023-01-27), 10-Q (reporting date: 2022-10-28), 10-Q (reporting date: 2022-07-29), 10-K (reporting date: 2022-04-29), 10-Q (reporting date: 2022-01-28), 10-Q (reporting date: 2021-10-29), 10-Q (reporting date: 2021-07-30), 10-K (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-29), 10-Q (reporting date: 2020-10-30), 10-Q (reporting date: 2020-07-31), 10-K (reporting date: 2020-04-24), 10-Q (reporting date: 2020-01-24), 10-Q (reporting date: 2019-10-25), 10-Q (reporting date: 2019-07-26), 10-K (reporting date: 2019-04-26), 10-Q (reporting date: 2019-01-25), 10-Q (reporting date: 2018-10-26), 10-Q (reporting date: 2018-07-27), 10-K (reporting date: 2018-04-27), 10-Q (reporting date: 2018-01-26), 10-Q (reporting date: 2017-10-27), 10-Q (reporting date: 2017-07-28).
1 Q3 2024 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 187 + 67 – 65 = 189
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 deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |