Stock Analysis on Net
Stock Analysis on Net

Medtronic PLC (NYSE:MDT)

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Microsoft Excel LibreOffice Calc

Historical Valuation Ratios (Summary)

Medtronic PLC, historical price multiples (quarterly data)

Microsoft Excel LibreOffice Calc
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 Apr 28, 2017 Jan 27, 2017 Oct 28, 2016 Jul 29, 2016 Apr 29, 2016 Jan 29, 2016 Oct 30, 2015 Jul 31, 2015
Price to earnings (P/E) 46.71 46.56 55.13 42.80 32.34 26.30 25.38 31.86 32.75 28.78 25.11 57.38 41.16 37.80 37.82 21.55 26.35 29.96 28.24 23.20 32.64 33.17
Price to operating profit (P/OP) 38.83 37.44 49.88 42.55 35.86 26.29 21.01 23.52 22.21 21.26 19.74 21.13 20.04 17.64 16.73 17.82 19.53 22.64 21.53 18.18 22.35 22.18
Price to sales (P/S) 5.74 5.57 5.71 5.43 5.11 4.36 4.34 4.82 4.72 4.36 4.04 4.27 4.35 3.92 3.57 3.65 3.62 4.06 3.82 3.39 4.14 4.07
Price to book value (P/BV) 3.52 3.26 3.14 3.02 2.84 2.48 2.60 2.94 2.87 2.66 2.48 2.62 2.59 2.31 2.11 2.10 2.14 2.40 2.27 1.96 2.34 2.25 2.08 2.09 1.86

Based on: 10-Q (filing date: 2021-09-02), 10-K (filing date: 2021-06-25), 10-Q (filing date: 2021-03-05), 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).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Medtronic PLC’s P/E ratio decreased from Q3 2021 to Q4 2021 but then slightly increased from Q4 2021 to Q1 2022.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Medtronic PLC’s P/OP ratio decreased from Q3 2021 to Q4 2021 but then slightly increased from Q4 2021 to Q1 2022.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Medtronic PLC’s P/S ratio decreased from Q3 2021 to Q4 2021 but then increased from Q4 2021 to Q1 2022 exceeding Q3 2021 level.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. Medtronic PLC’s P/BV ratio increased from Q3 2021 to Q4 2021 and from Q4 2021 to Q1 2022.

Price to Earnings (P/E)

Medtronic PLC, historical P/E calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Apr 28, 2017 Jan 27, 2017 Oct 28, 2016 Jul 29, 2016 Apr 29, 2016 Jan 29, 2016 Oct 30, 2015 Jul 31, 2015
No. shares of common stock outstanding1 1,345,809,975 1,343,904,180 1,348,072,847 1,346,019,949 1,344,215,261 1,341,298,882 1,340,166,137 1,340,377,511 1,341,669,471 1,341,156,703 1,341,150,970 1,343,045,417 1,350,511,193 1,351,709,097 1,355,373,428 1,353,498,000 1,354,591,435 1,359,026,669 1,368,884,991 1,373,047,310 1,381,935,603 1,394,731,892 1,401,043,252 1,406,155,722 1,413,614,665
Selected Financial Data (US$)
Net income (loss) attributable to Medtronic (in millions) 763  1,360  1,270  489  487  646  1,915  1,364  864  1,172  1,269  1,115  1,075  1,460  (1,389) 2,017  1,016  1,163  821  1,115  929  1,103  1,095  520  820 
Earnings per share (EPS)2 2.88 2.68 2.15 2.63 3.28 3.57 3.97 3.48 3.29 3.45 3.67 1.68 2.34 2.30 2.07 3.71 3.04 2.96 2.90 3.09 2.64 2.54 0.00 0.00 0.00
Share price1, 3 134.73 124.93 118.26 112.47 106.15 93.91 100.67 110.99 107.89 99.38 92.09 96.60 96.41 86.81 78.33 79.87 80.05 88.79 81.86 71.67 86.15 84.14 75.55 77.56 69.59
Valuation Ratio
P/E ratio4 46.71 46.56 55.13 42.80 32.34 26.30 25.38 31.86 32.75 28.78 25.11 57.38 41.16 37.80 37.82 21.55 26.35 29.96 28.24 23.20 32.64 33.17
Benchmarks
P/E Ratio, Competitors5
Abbott Laboratories 31.42 33.80 36.79 48.49 58.45 58.36 45.61 41.83 44.92 53.17 52.98 56.47 136.66 122.73 213.07 220.29 45.00 73.04 50.48 55.16
Anthem Inc. 18.65 22.10 19.99 15.87 14.35 11.97 14.80 15.96 15.55 18.14 16.19 21.45 15.64 14.84 14.70 15.44 17.72 17.04 17.09 17.48
Becton, Dickinson & Co. 34.68 37.43 42.70 49.11 86.01 95.62 75.45 90.00 65.09 83.38 66.87 72.88 408.36 105.60 206.04 49.63 59.56 30.05 28.94 36.65
Bristol-Myers Squibb Co. 144.77 41.99 16.53 11.97 14.51 16.81 56.09 251.38 92.56 103.55 23.59 19.40 18.96 20.56
CVS Health Corp. 16.78 14.94 14.44 12.88 10.69 10.20 10.94 14.15 20.65 17.46 25.50 23.08 10.05 10.69 13.42 15.08 15.71 14.91
Danaher Corp. 38.81 37.87 39.26 44.49 46.61 41.91 35.88 38.34 40.31 41.93 37.63 29.77 25.70 27.06 27.78 27.25 26.31 26.25 25.00 23.02
Edwards Lifesciences Corp. 50.64 47.85 70.70 66.48 61.28 65.79 39.74 46.05 61.52 61.07 47.99 51.14 41.12 45.24 48.67 48.16 28.95 34.05 35.04 33.48
HCA Healthcare Inc. 11.89 16.18 14.47 16.06 12.48 12.95 11.02 14.30 12.96 11.89 11.68 12.84 14.56 15.73 12.60 15.92 10.36 9.98 10.81 11.00
Intuitive Surgical Inc. 71.86 69.15 89.95 87.47 82.17 70.73 44.27 48.72 49.80 51.02 53.16 53.03 73.32 73.33 69.50 70.95 45.87 42.21 38.18 37.16
Stryker Corp. 52.83 48.64 69.46 57.72 43.23 45.35 31.33 39.24 23.72 22.60 19.64 18.96 48.55 58.86 62.59 54.36 33.60 32.52 29.96 27.92
UnitedHealth Group Inc. 27.92 27.41 23.06 20.54 17.70 16.88 19.91 20.48 17.79 17.98 17.93 21.09 21.18 20.91 20.02 20.77 23.90 23.24 22.18 21.73

Based on: 10-Q (filing date: 2021-09-02), 10-K (filing date: 2021-06-25), 10-Q (filing date: 2021-03-05), 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).

1 Data adjusted for splits and stock dividends.

2 Q1 2022 Calculation
EPS = (Net income (loss) attributable to MedtronicQ1 2022 + Net income (loss) attributable to MedtronicQ4 2021 + Net income (loss) attributable to MedtronicQ3 2021 + Net income (loss) attributable to MedtronicQ2 2021) ÷ No. shares of common stock outstanding
= (763,000,000 + 1,360,000,000 + 1,270,000,000 + 489,000,000) ÷ 1,345,809,975 = 2.88

3 Closing price as at the filing date of Medtronic PLC’s Quarterly or Annual Report.

4 Q1 2022 Calculation
P/E ratio = Share price ÷ EPS
= 134.73 ÷ 2.88 = 46.71

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Medtronic PLC’s P/E ratio decreased from Q3 2021 to Q4 2021 but then slightly increased from Q4 2021 to Q1 2022.

Price to Operating Profit (P/OP)

Medtronic PLC, historical P/OP calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Apr 28, 2017 Jan 27, 2017 Oct 28, 2016 Jul 29, 2016 Apr 29, 2016 Jan 29, 2016 Oct 30, 2015 Jul 31, 2015
No. shares of common stock outstanding1 1,345,809,975 1,343,904,180 1,348,072,847 1,346,019,949 1,344,215,261 1,341,298,882 1,340,166,137 1,340,377,511 1,341,669,471 1,341,156,703 1,341,150,970 1,343,045,417 1,350,511,193 1,351,709,097 1,355,373,428 1,353,498,000 1,354,591,435 1,359,026,669 1,368,884,991 1,373,047,310 1,381,935,603 1,394,731,892 1,401,043,252 1,406,155,722 1,413,614,665
Selected Financial Data (US$)
Operating profit (in millions) 859  1,604  1,277  930  673  316  1,639  1,351  1,485  1,946  1,542  1,544  1,236  1,935  1,426  1,901  1,389  1,631  1,147  1,385  1,167  1,505  1,355  1,300  1,131 
Operating profit per share2 3.47 3.34 2.37 2.64 2.96 3.57 4.79 4.72 4.86 4.67 4.67 4.57 4.81 4.92 4.68 4.48 4.10 3.92 3.80 3.94 3.85 3.79 0.00 0.00 0.00
Share price1, 3 134.73 124.93 118.26 112.47 106.15 93.91 100.67 110.99 107.89 99.38 92.09 96.60 96.41 86.81 78.33 79.87 80.05 88.79 81.86 71.67 86.15 84.14 75.55 77.56 69.59
Valuation Ratio
P/OP ratio4 38.83 37.44 49.88 42.55 35.86 26.29 21.01 23.52 22.21 21.26 19.74 21.13 20.04 17.64 16.73 17.82 19.53 22.64 21.53 18.18 22.35 22.18
Benchmarks
P/OP Ratio, Competitors5
Abbott Laboratories 26.84 29.01 31.39 40.69 45.82 45.19 35.87 34.03 34.32 37.50 36.74 36.64 38.12 38.00 39.99 60.88 47.72 41.32 30.85 24.25
Anthem Inc. 15.81 19.93 15.79 12.10 10.93 9.03 11.95 13.55 12.60 14.74 12.58 15.87 15.01 14.22 14.34 14.81 12.35 11.12 10.24 9.36
Becton, Dickinson & Co. 24.81 27.29 30.61 33.30 44.46 56.20 43.34 49.82 40.02 29.43 29.40 30.27 43.37 47.87 95.72 67.53 34.59 40.06 21.15 20.05 25.02
Bristol-Myers Squibb Co. 39.45 33.97 27.33 24.42 13.51 10.89 13.68 16.16 19.56 27.48 23.10 28.87 24.60 20.23 19.09 19.79
CVS Health Corp. 9.43 7.87 7.61 6.65 5.89 5.98 6.19 7.83 9.44 8.02 15.80 18.65 12.59 11.14 6.90 7.44 7.19 8.21 8.07 7.65
Danaher Corp. 32.12 30.83 32.62 36.91 46.28 43.09 35.22 34.47 29.97 30.85 26.85 23.18 20.95 21.72 22.58 22.48 22.35 21.13 20.83 21.37
Edwards Lifesciences Corp. 44.87 42.81 65.18 60.98 56.78 61.66 35.77 42.04 57.30 56.37 47.70 49.37 26.74 28.00 25.96 25.66 22.59 26.24 26.76 25.38
HCA Healthcare Inc. 7.23 9.33 8.24 8.31 6.21 6.07 4.90 6.93 6.35 6.18 6.13 6.88 6.71 6.76 5.19 5.82 4.62 4.61 4.99 5.11
Intuitive Surgical Inc. 67.95 69.51 89.18 88.37 83.88 71.30 43.68 48.89 50.00 49.12 51.89 49.87 48.90 50.69 46.82 44.40 41.74 35.53 31.07 28.93
Stryker Corp. 39.93 36.20 47.78 41.52 31.40 33.20 24.04 30.13 32.94 33.22 27.96 26.55 23.52 25.45 27.41 24.21 26.70 25.11 22.99 21.23
UnitedHealth Group Inc. 19.63 19.05 16.12 14.12 12.35 11.85 13.80 14.40 12.43 12.51 12.48 14.58 15.82 15.19 14.17 14.42 14.30 13.54 12.56 11.79

Based on: 10-Q (filing date: 2021-09-02), 10-K (filing date: 2021-06-25), 10-Q (filing date: 2021-03-05), 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).

1 Data adjusted for splits and stock dividends.

2 Q1 2022 Calculation
Operating profit per share = (Operating profitQ1 2022 + Operating profitQ4 2021 + Operating profitQ3 2021 + Operating profitQ2 2021) ÷ No. shares of common stock outstanding
= (859,000,000 + 1,604,000,000 + 1,277,000,000 + 930,000,000) ÷ 1,345,809,975 = 3.47

3 Closing price as at the filing date of Medtronic PLC’s Quarterly or Annual Report.

4 Q1 2022 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 134.73 ÷ 3.47 = 38.83

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Medtronic PLC’s P/OP ratio decreased from Q3 2021 to Q4 2021 but then slightly increased from Q4 2021 to Q1 2022.

Price to Sales (P/S)

Medtronic PLC, historical P/S calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Apr 28, 2017 Jan 27, 2017 Oct 28, 2016 Jul 29, 2016 Apr 29, 2016 Jan 29, 2016 Oct 30, 2015 Jul 31, 2015
No. shares of common stock outstanding1 1,345,809,975 1,343,904,180 1,348,072,847 1,346,019,949 1,344,215,261 1,341,298,882 1,340,166,137 1,340,377,511 1,341,669,471 1,341,156,703 1,341,150,970 1,343,045,417 1,350,511,193 1,351,709,097 1,355,373,428 1,353,498,000 1,354,591,435 1,359,026,669 1,368,884,991 1,373,047,310 1,381,935,603 1,394,731,892 1,401,043,252 1,406,155,722 1,413,614,665
Selected Financial Data (US$)
Net sales (in millions) 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  7,916  7,283  7,345  7,166  7,567  6,934  7,058  7,274 
Sales per share2 23.48 22.41 20.72 20.70 20.78 21.56 23.18 23.05 22.86 22.78 22.78 22.62 22.17 22.16 21.93 21.90 22.10 21.86 21.45 21.13 20.79 20.67 0.00 0.00 0.00
Share price1, 3 134.73 124.93 118.26 112.47 106.15 93.91 100.67 110.99 107.89 99.38 92.09 96.60 96.41 86.81 78.33 79.87 80.05 88.79 81.86 71.67 86.15 84.14 75.55 77.56 69.59
Valuation Ratio
P/S ratio4 5.74 5.57 5.71 5.43 5.11 4.36 4.34 4.82 4.72 4.36 4.04 4.27 4.35 3.92 3.57 3.65 3.62 4.06 3.82 3.39 4.14 4.07
Benchmarks
P/S Ratio, Competitors5
Abbott Laboratories 5.38 5.36 5.64 6.30 6.13 5.77 5.09 4.83 4.72 4.98 4.52 4.37 3.98 3.84 3.57 3.84 3.77 3.62 3.40 3.70
Anthem Inc. 0.78 0.73 0.76 0.60 0.61 0.63 0.65 0.74 0.67 0.77 0.69 0.88 0.79 0.72 0.68 0.67 0.60 0.56 0.55 0.51
Becton, Dickinson & Co. 3.43 3.51 3.71 4.07 3.85 4.45 4.00 3.94 4.07 3.82 3.64 3.82 4.06 4.45 4.49 4.94 4.23 3.72 3.21 3.05 2.87
Bristol-Myers Squibb Co. 2.85 3.44 3.28 3.16 3.66 3.97 4.45 5.52 3.87 3.11 3.21 3.67 3.64 4.38 4.04 5.02 4.85 4.40 4.59 4.72
CVS Health Corp. 0.45 0.39 0.40 0.35 0.32 0.32 0.30 0.37 0.38 0.33 0.36 0.39 0.42 0.37 0.36 0.38 0.37 0.44 0.45 0.45
Danaher Corp. 7.91 7.72 7.27 7.01 8.15 7.48 6.34 6.29 5.32 5.43 4.67 3.97 3.62 3.74 3.77 3.70 3.52 3.32 3.35 3.48
Edwards Lifesciences Corp. 14.68 14.21 13.45 12.48 11.14 11.32 9.82 11.09 11.46 11.17 9.61 9.92 8.06 8.37 7.91 8.18 6.51 7.55 7.31 6.43
HCA Healthcare Inc. 1.35 1.43 1.26 1.17 0.84 0.86 0.65 0.98 0.91 0.89 0.90 1.04 1.01 1.00 0.77 0.81 0.65 0.67 0.74 0.77
Intuitive Surgical Inc. 22.12 21.73 23.19 21.29 20.09 18.44 13.33 15.01 15.41 15.28 15.83 16.06 16.36 17.01 16.16 14.97 13.83 12.00 10.69 10.11
Stryker Corp. 6.02 6.24 6.65 6.43 5.34 5.16 4.53 5.49 5.59 5.65 4.98 4.95 4.52 4.88 5.01 4.46 4.93 4.62 4.29 4.06
UnitedHealth Group Inc. 1.55 1.47 1.49 1.24 1.18 1.17 1.12 1.18 1.00 1.00 0.98 1.12 1.22 1.17 1.09 1.10 1.05 0.98 0.89 0.83

Based on: 10-Q (filing date: 2021-09-02), 10-K (filing date: 2021-06-25), 10-Q (filing date: 2021-03-05), 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).

1 Data adjusted for splits and stock dividends.

2 Q1 2022 Calculation
Sales per share = (Net salesQ1 2022 + Net salesQ4 2021 + Net salesQ3 2021 + Net salesQ2 2021) ÷ No. shares of common stock outstanding
= (7,987,000,000 + 8,188,000,000 + 7,775,000,000 + 7,647,000,000) ÷ 1,345,809,975 = 23.48

3 Closing price as at the filing date of Medtronic PLC’s Quarterly or Annual Report.

4 Q1 2022 Calculation
P/S ratio = Share price ÷ Sales per share
= 134.73 ÷ 23.48 = 5.74

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Medtronic PLC’s P/S ratio decreased from Q3 2021 to Q4 2021 but then increased from Q4 2021 to Q1 2022 exceeding Q3 2021 level.

Price to Book Value (P/BV)

Medtronic PLC, historical P/BV calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Apr 28, 2017 Jan 27, 2017 Oct 28, 2016 Jul 29, 2016 Apr 29, 2016 Jan 29, 2016 Oct 30, 2015 Jul 31, 2015
No. shares of common stock outstanding1 1,345,809,975 1,343,904,180 1,348,072,847 1,346,019,949 1,344,215,261 1,341,298,882 1,340,166,137 1,340,377,511 1,341,669,471 1,341,156,703 1,341,150,970 1,343,045,417 1,350,511,193 1,351,709,097 1,355,373,428 1,353,498,000 1,354,591,435 1,359,026,669 1,368,884,991 1,373,047,310 1,381,935,603 1,394,731,892 1,401,043,252 1,406,155,722 1,413,614,665
Selected Financial Data (US$)
Shareholders’ equity (in millions) 51,486  51,428  50,758  50,164  50,296  50,737  51,808  50,578  50,363  50,091  49,829  49,607  50,224  50,720  50,234  51,469  50,672  50,294  49,387  50,186  50,824  52,063  50,816  52,269  52,809 
Book value per share (BVPS)2 38.26 38.27 37.65 37.27 37.42 37.83 38.66 37.73 37.54 37.35 37.15 36.94 37.19 37.52 37.06 38.03 37.41 37.01 36.08 36.55 36.78 37.33 36.27 37.17 37.36
Share price1, 3 134.73 124.93 118.26 112.47 106.15 93.91 100.67 110.99 107.89 99.38 92.09 96.60 96.41 86.81 78.33 79.87 80.05 88.79 81.86 71.67 86.15 84.14 75.55 77.56 69.59
Valuation Ratio
P/BV ratio4 3.52 3.26 3.14 3.02 2.84 2.48 2.60 2.94 2.87 2.66 2.48 2.62 2.59 2.31 2.11 2.10 2.14 2.40 2.27 1.96 2.34 2.25 2.08 2.09 1.86
Benchmarks
P/BV Ratio, Competitors5
Abbott Laboratories 6.61 6.38 6.27 6.65 6.30 5.94 5.40 4.96 4.65 4.86 4.49 4.38 3.94 3.72 3.23 3.40 2.95 2.71 2.42 3.76 2.72 3.20 2.70
Anthem Inc. 2.88 2.67 2.78 2.19 2.10 2.06 2.23 2.42 2.13 2.40 2.15 2.82 2.45 2.24 2.26 2.24 2.04 1.84 1.82 1.72 1.31 1.45 1.62
Becton, Dickinson & Co. 2.93 2.89 2.82 3.00 2.78 3.13 3.32 3.23 3.34 3.04 2.91 3.05 3.09 3.07 2.87 2.85 3.95 3.60 4.96 4.99 4.69 4.55 4.56 3.97
Bristol-Myers Squibb Co. 3.48 4.15 3.73 3.55 2.87 2.82 2.77 2.80 5.30 4.63 4.91 5.89 5.89 7.67 6.65 8.88 6.75 6.05 6.36 5.66 5.56 8.36 8.38
CVS Health Corp. 1.71 1.47 1.51 1.33 1.24 1.24 1.21 1.47 1.47 1.23 1.25 1.29 2.17 1.95 1.73 1.88 1.94 2.34 2.38 2.15 2.18 3.01 3.10
Danaher Corp. 5.11 4.82 4.46 3.93 4.38 3.90 3.68 3.72 3.02 3.19 2.88 2.80 2.56 2.65 2.61 2.58 2.47 2.35 2.42 2.56 2.39 2.24 2.70
Edwards Lifesciences Corp. 13.50 13.63 12.91 11.97 11.56 12.74 11.29 11.62 12.48 12.65 10.65 11.76 8.72 9.39 8.40 9.51 6.82 8.30 8.39 7.28 7.64 9.86 9.78
HCA Healthcare Inc. 269.16 105.40
Intuitive Surgical Inc. 10.64 10.35 10.40 9.53 9.35 9.19 7.22 8.13 8.43 8.49 8.68 8.96 9.30 10.03 9.71 9.91 8.35 7.62 7.21 4.73 4.77 5.22 5.00
Stryker Corp. 7.08 7.33 7.24 7.05 5.85 5.69 5.17 6.38 6.60 6.72 5.92 5.74 6.09 6.72 6.92 5.56 5.73 5.51 5.21 4.82 4.59 4.81 4.65
UnitedHealth Group Inc. 6.13 5.76 5.86 4.83 4.54 4.53 4.81 4.92 4.32 4.40 4.37 4.89 5.32 5.13 4.72 4.59 4.55 4.37 4.01 3.98 3.61 3.75 3.57

Based on: 10-Q (filing date: 2021-09-02), 10-K (filing date: 2021-06-25), 10-Q (filing date: 2021-03-05), 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).

1 Data adjusted for splits and stock dividends.

2 Q1 2022 Calculation
BVPS = Shareholders’ equity ÷ No. shares of common stock outstanding
= 51,486,000,000 ÷ 1,345,809,975 = 38.26

3 Closing price as at the filing date of Medtronic PLC’s Quarterly or Annual Report.

4 Q1 2022 Calculation
P/BV ratio = Share price ÷ BVPS
= 134.73 ÷ 38.26 = 3.52

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. Medtronic PLC’s P/BV ratio increased from Q3 2021 to Q4 2021 and from Q4 2021 to Q1 2022.