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Medtronic PLC logo
Medtronic PLC MDT
$ 101.59 -1.16%
report update icon

Quarterly report 2027-Q1
added 09-03-2026

Medtronic PLC Balance Sheet 2026-2011 | MDT

Brief overview of Medtronic PLC's balance sheet structure

This overview follows the five latest available annual observations between 2022 and 2026.

Assets shifted from $91 billion to $93 billion, leaving five-period growth close to stagnation.

Liabilities expanded faster than the asset base, +12.3% versus +2.2%. Debt-service capacity deserves attention.

Internal capital represents 53.2% of the balance sheet, previously 57.8%. This is a strong capital position.

Each unit of equity supports about 0.49x of net debt. Dependence on debt remains comfortable.

The cash reserve occupies 2.1% of the balance sheet, previously 4.1%. It is one marker of short-term resilience.

Accumulated earnings ended at $32.6 billion, a change of +7.9%. They remain an important part of the capital base.

Balance sheet takeaway

Medtronic PLC's balance sheet is broadly resilient, though selected areas require monitoring. The balance between assets, equity and liabilities remains the key issue.

Annual Balance Sheet Medtronic PLC

2026 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011

Net Debt

24.4 B 23.6 B 22.8 B 23 B 16.8 B 23 B 20.7 B 20.9 B 22.1 B 28.5 B 28.2 B 31.3 B 10.5 B 9.61 B 9.38 B 8.45 B

Long Term Debt

26.2 B 25.6 B 23.9 B 24.3 B 20.4 B 26.4 B 22 B 24.5 B 23.7 B 25.9 B 30.1 B 33.8 B 10.1 B 9.41 B 7.36 B 8.11 B

Long Term Debt Current

198 M 192 M 183 M 180 M 167 M 186 M 171 M - - - - - - - - -

Total Non Current Liabilities

- - - - - - 29.6 B 31.1 B 30.6 B 35.4 B 40.4 B 44.3 B 12.9 B 12.3 B 10.1 B 9.74 B

Total Current Liabilities

11.7 B 12.9 B 10.8 B 9.05 B 12.4 B 8.51 B 10.4 B 8.47 B 10.1 B 14.2 B 7.16 B 9.17 B - - - -

Total Liabilities

43 B 43.4 B 39.6 B 39.3 B 38.3 B 41.5 B 40 B 39.6 B 40.7 B 49.6 B 47.6 B 53.5 B 18.5 B 16.2 B 16 B 14.5 B

Deferred Revenue

- - - - - - - 315 M - - - - - - - -

Retained Earnings

32.6 B 31.5 B 30.4 B 30.4 B 30.2 B 28.6 B 28.1 B 26.3 B 24.4 B 23.3 B 21.7 B 54.4 B 19.9 B 19.1 B 17.5 B 16.1 B

Total Assets

93 B 91.7 B 90 B 90.9 B 91 B 93.1 B 90.7 B 89.7 B 91.4 B 99.9 B 99.6 B 107 B 37.9 B 34.8 B 33.1 B 30.4 B

Cash and Cash Equivalents

1.95 B 2.22 B 1.28 B 1.54 B 3.71 B 3.59 B 4.14 B 4.39 B 3.67 B 4.97 B 2.88 B 4.84 B 1.4 B 919 M - -

Book Value

50.1 B 48.3 B 50.4 B 51.7 B 52.7 B 51.6 B 50.7 B 50.1 B 50.7 B 50.2 B 52.1 B 53.2 B 19.4 B 18.7 B 17.1 B 16 B

Total Shareholders Equity

49.5 B 48 B 50.4 B 51.5 B 52.6 B 51.6 B 50.7 B 50.1 B 50.7 B 50.3 B 52.1 B 53.2 B 19.4 B 18.7 B - -

All numbers in USD currency

Quarterly Balance Sheet Medtronic PLC

2027-Q1 2026-Q4 2026-Q3 2026-Q2 2026-Q1 2025-Q4 2025-Q3 2025-Q2 2025-Q1 2024-Q4 2024-Q3 2024-Q2 2024-Q1 2023-Q4 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1

Long Term Debt

54 M 918 M 27.9 B 27.7 B 26.2 B 27.9 B 27.7 B 26.2 B 25.6 B 24 B 24.6 B 26.3 B 23.9 B 24.2 B 23.7 B 24.5 B 24.3 B 24.3 B 20.8 B 17.5 B 20.4 B 26.5 B 25.6 B 56 M 26.4 B 24.7 B 26 B 22.9 B 22.1 B 23.7 B 24.8 B 24.8 B 24.6 B 25.9 B 23.7 B 23.7 B 23.7 B 25.9 B 25.9 B 26 B 25.9 B 33.7 B 29 B 30.1 B 29.9 B - 33.7 B 33.7 B 33.2 B - - - 10.3 B - - - - - - - - - - - -

Total Liabilities

43 B 43.4 B 42.3 B 42.5 B 42.8 B 42.3 B 42.5 B 42.8 B 43.4 B 40.4 B 41.3 B 41.6 B 39.6 B 38.8 B 38.4 B 39.4 B 39.3 B 39.1 B 41.2 B 37.1 B 38.3 B 46.3 B 39.6 B 40.1 B 41.5 B 40.9 B 45.6 B 43.5 B 39.8 B 38.8 B 40.3 B 40.8 B 39.5 B 45.5 B 38.4 B 39.4 B 40.6 B 48.1 B 42.9 B 49.5 B 49.5 B 51.9 B 48.1 B 47.7 B 47.6 B 37 M 52.7 B 51.8 B 53.5 B - - - 18.5 B - - - - - - - - - - - -

Retained Earnings

32.6 B 31.5 B 32.3 B 32.1 B 31.6 B 32.3 B 32.1 B 31.6 B 31.5 B 31.3 B 30.9 B 30.5 B 30.4 B 30.7 B 30.3 B 30.3 B 30.4 B 29.6 B 29.8 B 30.3 B 30.2 B 28 B 29 B 28.5 B 28.6 B 28.2 B 27.5 B 27.8 B 28.1 B 25.8 B 27 B 26.4 B 26.3 B 23.4 B 25.2 B 24.7 B 24.4 B 52.3 B 25.4 B 24 B 23.3 B 53.8 B 52.5 B 52.8 B 21.7 B -37.1 M 53.7 B 54.2 B 54.4 B - - - 19.9 B - - - - - - - - - - - -

Total Assets

93 B 91.7 B 91.5 B 91.3 B 91 B 91.5 B 91.3 B 91 B 91.7 B 90 B 90 B 89.7 B 90 B 90.8 B 90.1 B 90.8 B 90.9 B 91.8 B 93.2 B 89.9 B 91 B 97.3 B 91.8 B 91.8 B 93.1 B 92.8 B 95.9 B 93.9 B 90.7 B 88.7 B 91.1 B 91.3 B 89.7 B 95.8 B 88.2 B 89.7 B 91.4 B 97.6 B 94.5 B 100 B 99.9 B 103 B 98.4 B 98.6 B 99.6 B 46 K 105 B 105 B 107 B - - - 37.9 B - - - - - - - - - - - -

Cash and Cash Equivalents

2.22 B 1.54 B 1.15 B 1.28 B 1.27 B 1.15 B 1.28 B 1.27 B 2.22 B 1.24 B 1.39 B 1.31 B 1.28 B 1.62 B 1.31 B 1.34 B 1.54 B 4.52 B 4.83 B 2.14 B 3.71 B 5.08 B 2.9 B 3 B 3.59 B 3.71 B 6.42 B 6.5 B 4.14 B 3.7 B 3.96 B 5.08 B 4.39 B 6.36 B 3.91 B 4.38 B 4.38 B 2.77 B 5.53 B 5.53 B 4.69 B 2.72 B 2.95 B 2.95 B 3.06 B 17.2 B 2.38 B 2.38 B 2.98 B - 1.29 B - 1.4 B - - - 919 M - - - 1.17 B - - - -

Book Value

50.1 B 48.3 B 49.2 B 48.9 B 48.1 B 49.2 B 48.9 B 48.1 B 48.3 B 49.6 B 48.7 B 48.2 B 50.4 B 52 B 51.6 B 51.4 B 51.7 B 52.7 B 52.1 B 52.8 B 52.7 B 50.9 B 52.2 B 51.7 B 51.6 B 52 B 50.3 B 50.4 B 50.9 B 49.9 B 50.7 B 50.5 B 50.2 B 50.3 B 49.7 B 50.3 B 50.8 B 49.5 B 51.6 B 50.8 B 50.3 B 50.8 B 50.3 B 50.9 B 52.1 B -37 M 52.3 B 52.8 B 53.2 B - - - 19.4 B - - - - - - - - - - - -

Total Shareholders Equity

48.3 B 51.7 B 49 B 48.7 B 47.9 B 49 B 48.7 B 47.9 B 48 B 49.6 B 48.7 B 48.2 B 50.2 B 52 B 51.6 B 51.4 B 51.5 B 51.6 B 52.1 B 52.8 B 52.6 B 50.8 B 52.2 B 51.7 B 51.4 B 51.8 B 50.2 B 50.3 B 50.7 B 49.8 B 50.6 B 50.4 B 50.1 B 50.2 B 49.6 B 50.2 B 50.7 B 49.4 B 51.5 B 50.7 B 50.2 B 50.8 B 50.2 B 50.8 B 52.1 B -37 M 52.3 B 52.8 B 53.2 B - - - 19.4 B - - - 18.7 B - - - 17.1 B - - - -

All numbers in USD currency

Balance Sheet is a fundamental financial report of Medtronic PLC, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.

For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.

Features of balance sheet analysis
  • Vertical and horizontal analysis
    Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods.
  • Asset quality
    It is important to evaluate not only the amount of assets but also their liquidity and realizability.
  • Accounting for off-balance sheet liabilities
    Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.

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