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Medtronic PLC (MDT)
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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 | - | - |
Annual performance
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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 | - | - | - | - |
Quarterly performance
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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.