Enterprise Value (EV)
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Medtronic PLC pages available for free this week:
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Revenues
- Analysis of Debt
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Current Enterprise Value (EV)
Medtronic PLC, current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in millions | |
| Common equity (market value)1 | |
| Add: Noncontrolling interests (per books) | |
| Total equity | |
| Add: Current debt obligations (per books) | |
| Add: Long-term debt (per books) | |
| Total equity and debt | |
| Less: Cash and cash equivalents | |
| Less: Investments | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2025-04-25).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
Medtronic PLC, EV calculation
Based on: 10-K (reporting date: 2025-04-25), 10-K (reporting date: 2024-04-26), 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Medtronic PLC Annual Report.
3 2025 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
- Equity Trends
- Over the six-year period, both common equity (market value) and total equity exhibit notable fluctuations. From April 2020 to April 2021, there is a significant increase in common equity, rising from approximately 125.96 billion US dollars to 167.89 billion US dollars, followed by a sharp decline to 117.82 billion US dollars in April 2022. Subsequently, equity values remain relatively lower compared to the peak in 2021, with gradual decreases to 102.8 billion US dollars in April 2024, and a slight recovery to 110.62 billion US dollars by April 2025. Total equity closely mirrors this pattern, confirming consistency between market and book equity measures.
- Debt and Capital Structure
- The total equity and debt combined figures follow a similar trend to equity alone but reflect an overall larger magnitude, indicating the presence of substantial debt financing. The combined total rises from 150.89 billion US dollars in April 2020 to a peak of 194.46 billion US dollars in April 2021, then decreases to 142.10 billion in April 2022, with subsequent values stabilizing between 128.03 billion and 139.37 billion US dollars through 2025. This pattern suggests an initial increase in leverage or capital structure expansion followed by contraction and stabilization.
- Enterprise Value
- Enterprise value (EV), which incorporates market capitalization, debt, and cash, follows a trajectory comparable to total capital employed. EV rises from 139.95 billion US dollars in April 2020 to a high of 183.64 billion US dollars in April 2021. It then declines significantly to 131.53 billion US dollars in April 2022, remaining relatively steady around 120.03 to 132.88 billion US dollars through 2024 and 2025. This pattern aligns with the changes observed in market value and combined capital structure, reflecting market and operational factors impacting valuation.
- Overall Insights
- The data reveals a peak period in 2021 for most financial metrics, potentially indicating favorable market conditions or company performance during that time. After 2021, there is a marked decline in equity values, capital employed, and enterprise value, followed by a period of relative stability with minor fluctuations. This may indicate adjustments in financial strategy, market valuation corrections, or external economic influences affecting capital structure and valuation. The gradual recovery approaching 2025 suggests cautious optimism or improved conditions recovering from the post-2021 trough.