Medtronic Current Ratio vs Asset Turnover Analysis

MDT Stock  USD 87.15  0.23  0.26%   
Medtronic PLC financial indicator trend analysis is infinitely more than just investigating Medtronic PLC recent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Medtronic PLC is a good investment. Please check the relationship between Medtronic PLC Current Ratio and its Asset Turnover accounts. Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Medtronic PLC. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in unemployment.
For more information on how to buy Medtronic Stock please use our How to Invest in Medtronic PLC guide.

Current Ratio vs Asset Turnover

Current Ratio vs Asset Turnover Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Medtronic PLC Current Ratio account and Asset Turnover. At this time, the significance of the direction appears to have pay attention.
The correlation between Medtronic PLC's Current Ratio and Asset Turnover is -0.92. Overlapping area represents the amount of variation of Current Ratio that can explain the historical movement of Asset Turnover in the same time period over historical financial statements of Medtronic PLC, assuming nothing else is changed. The correlation between historical values of Medtronic PLC's Current Ratio and Asset Turnover is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Current Ratio of Medtronic PLC are associated (or correlated) with its Asset Turnover. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Asset Turnover has no effect on the direction of Current Ratio i.e., Medtronic PLC's Current Ratio and Asset Turnover go up and down completely randomly.

Correlation Coefficient

-0.92
Relationship DirectionNegative 
Relationship StrengthSignificant

Current Ratio

A liquidity ratio that measures a company's ability to pay short-term obligations or those due within one year. It compares a firm's current assets to its current liabilities.

Asset Turnover

The ratio of net sales to average total assets, indicating how efficiently a company uses its assets to generate sales.
Most indicators from Medtronic PLC's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Medtronic PLC current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Medtronic PLC. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in unemployment.
For more information on how to buy Medtronic Stock please use our How to Invest in Medtronic PLC guide.At this time, Medtronic PLC's Tax Provision is comparatively stable compared to the past year. Issuance Of Capital Stock is likely to gain to about 458.4 M in 2024, whereas Selling General Administrative is likely to drop slightly above 7.5 B in 2024.
 2021 2022 2023 2024 (projected)
Gross Profit21.5B20.5B23.6B24.8B
Total Revenue31.7B31.2B35.9B37.7B

Medtronic PLC fundamental ratios Correlations

0.970.70.860.990.940.970.780.690.990.530.50.90.840.970.870.830.750.990.880.150.910.870.820.140.98
0.970.550.830.930.850.990.830.760.950.620.620.870.760.990.740.690.651.00.90.270.950.750.90.270.98
0.70.550.480.760.820.570.560.240.69-0.170.180.730.590.610.830.780.540.610.62-0.420.490.80.32-0.460.66
0.860.830.480.860.820.810.480.710.850.680.410.760.770.750.760.830.710.840.770.530.720.760.70.30.75
0.990.930.760.860.970.940.740.640.990.470.420.90.860.940.910.880.790.960.860.080.870.910.770.070.95
0.940.850.820.820.970.870.70.460.940.370.30.910.830.860.980.930.770.890.82-0.030.730.970.62-0.130.89
0.970.990.570.810.940.870.850.680.960.610.580.890.760.990.780.710.650.990.90.20.930.780.880.20.99
0.780.830.560.480.740.70.850.470.750.270.610.780.50.870.590.430.360.820.8-0.030.790.570.73-0.050.86
0.690.760.240.710.640.460.680.470.670.50.680.50.550.70.320.40.430.730.650.560.810.330.780.570.67
0.990.950.690.850.990.940.960.750.670.510.410.860.860.950.870.840.790.970.820.130.910.880.810.150.96
0.530.62-0.170.680.470.370.610.270.50.510.430.420.470.530.30.30.460.590.510.670.540.330.660.640.5
0.50.620.180.410.420.30.580.610.680.410.430.520.270.590.150.070.070.580.770.320.580.140.670.30.56
0.90.870.730.760.90.910.890.780.50.860.420.520.730.870.830.790.630.890.920.030.740.810.68-0.060.89
0.840.760.590.770.860.830.760.50.550.860.470.270.730.750.780.790.920.790.620.130.730.790.730.180.76
0.970.990.610.750.940.860.990.870.70.950.530.590.870.750.760.680.650.990.890.120.950.760.880.181.0
0.870.740.830.760.910.980.780.590.320.870.30.150.830.780.760.950.750.790.72-0.120.610.990.49-0.220.8
0.830.690.780.830.880.930.710.430.40.840.30.070.790.790.680.950.760.740.640.030.580.940.47-0.090.71
0.750.650.540.710.790.770.650.360.430.790.460.070.630.920.650.750.760.690.50.070.640.770.560.20.66
0.991.00.610.840.960.890.990.820.730.970.590.580.890.790.990.790.740.690.90.220.940.80.880.220.99
0.880.90.620.770.860.820.90.80.650.820.510.770.920.620.890.720.640.50.90.170.780.70.740.080.89
0.150.27-0.420.530.08-0.030.2-0.030.560.130.670.320.030.130.12-0.120.030.070.220.170.24-0.120.380.720.06
0.910.950.490.720.870.730.930.790.810.910.540.580.740.730.950.610.580.640.940.780.240.620.930.380.93
0.870.750.80.760.910.970.780.570.330.880.330.140.810.790.760.990.940.770.80.7-0.120.620.5-0.190.8
0.820.90.320.70.770.620.880.730.780.810.660.670.680.730.880.490.470.560.880.740.380.930.50.480.85
0.140.27-0.460.30.07-0.130.2-0.050.570.150.640.3-0.060.180.18-0.22-0.090.20.220.080.720.38-0.190.480.12
0.980.980.660.750.950.890.990.860.670.960.50.560.890.761.00.80.710.660.990.890.060.930.80.850.12
Click cells to compare fundamentals

Medtronic PLC Account Relationship Matchups

Medtronic PLC fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets90.7B93.1B91.0B90.9B104.6B109.8B
Short Long Term Debt Total24.8B26.4B24.1B24.4B28.0B29.4B
Other Current Liab5.6B6.1B6.1B6.1B7.0B7.3B
Total Current Liabilities10.4B8.5B12.4B9.1B10.4B10.9B
Total Stockholder Equity50.7B51.4B52.6B51.5B59.2B62.2B
Property Plant And Equipment Net4.8B5.2B5.4B5.6B6.4B6.7B
Net Debt20.7B22.8B20.4B22.8B26.2B27.6B
Retained Earnings28.1B28.6B30.3B30.4B35.0B36.7B
Cash4.1B3.6B3.7B1.5B1.8B1.6B
Non Current Assets Total68.7B70.5B67.9B69.3B79.7B83.6B
Non Currrent Assets Other1.6B1.7B2.0B2.3B2.7B2.8B
Cash And Short Term Investments10.9B10.8B10.6B8.0B9.2B4.8B
Net Receivables4.6B5.5B5.6B6.0B6.9B7.2B
Common Stock Shares Outstanding1.4B1.4B1.4B1.3B1.5B1.2B
Liabilities And Stockholders Equity90.7B93.1B91.0B90.9B104.6B109.8B
Non Current Liabilities Total29.5B33.0B25.9B30.2B34.8B36.5B
Inventory4.2B4.3B4.6B5.3B6.1B6.4B
Other Current Assets2.2B2.0B2.3B2.4B2.8B2.9B
Other Stockholder Equity26.2B26.3B24.6B24.6B28.3B29.7B
Total Liab39.8B41.5B38.3B39.3B45.2B47.4B
Total Current Assets22.0B22.5B23.1B21.7B24.9B26.2B
Short Term Debt2.8B11M3.7B20M23M21.9M
Intangible Assets19.1B17.7B15.6B14.8B17.1B17.9B
Accounts Payable2.0B2.1B2.3B2.7B3.1B3.2B
Other Liab6.7B5.8B5.5B6.8B7.8B3.9B
Other Assets2.1B3.5B1M(1M)(1.2M)(1.1M)
Long Term Debt22.0B26.4B20.4B24.3B28.0B29.4B
Good Will39.8B42.0B40.5B41.4B47.6B50.0B
Short Term Investments6.8B7.2B6.9B6.4B7.4B5.0B
Accumulated Other Comprehensive Income(3.6B)(3.5B)(2.3B)(3.5B)(3.1B)(3.0B)
Common Stock134.1K134.5K133.1K133.1K119.8K113.8K
Property Plant Equipment4.8B6.2B5.4B6.6B7.6B8.0B
Property Plant And Equipment Gross5.8B5.2B13.4B14.1B16.2B17.0B
Short Long Term Debt2.8B11M3.7B20M18M17.1M
Net Tangible Assets50.7B(8.3B)(3.5B)51.5B59.2B62.2B
Deferred Long Term Liab1.2B1.0B884M708M637.2M605.3M
Noncontrolling Interest In Consolidated Entity135M174M171M182M209.3M123.1M

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When determining whether Medtronic PLC is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Medtronic Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Medtronic Plc Stock. Highlighted below are key reports to facilitate an investment decision about Medtronic Plc Stock:
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Medtronic PLC. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in unemployment.
For more information on how to buy Medtronic Stock please use our How to Invest in Medtronic PLC guide.
Note that the Medtronic PLC information on this page should be used as a complementary analysis to other Medtronic PLC's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the FinTech Suite module to use AI to screen and filter profitable investment opportunities.

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Is Medtronic PLC's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Medtronic PLC. If investors know Medtronic will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Medtronic PLC listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
0.078
Dividend Share
2.75
Earnings Share
3.15
Revenue Per Share
24.298
Quarterly Revenue Growth
0.047
The market value of Medtronic PLC is measured differently than its book value, which is the value of Medtronic that is recorded on the company's balance sheet. Investors also form their own opinion of Medtronic PLC's value that differs from its market value or its book value, called intrinsic value, which is Medtronic PLC's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Medtronic PLC's market value can be influenced by many factors that don't directly affect Medtronic PLC's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Medtronic PLC's value and its price as these two are different measures arrived at by different means. Investors typically determine if Medtronic PLC is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Medtronic PLC's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.