Stock Analysis on Net

Medtronic PLC (NYSE:MDT)

Analysis of Reportable Segments 

Microsoft Excel

Segment Profit Margin

Medtronic PLC, profit margin by reportable segment

Microsoft Excel
Apr 26, 2024 Apr 28, 2023 Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019
Cardiovascular Portfolio 37.82% 38.32% 39.50% 35.74% 35.53% 39.39%
Neuroscience Portfolio 41.89% 40.37% 42.86% 38.58% 37.73% 40.56%
Medical Surgical Portfolio 37.66% 33.87% 39.08% 34.58% 36.45% 38.48%
Diabetes Operating Unit 15.84% 16.71% 24.94% 24.78% 23.06% 30.91%

Based on: 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), 10-K (reporting date: 2019-04-26).

Segment profitability ratio Reportable segment The company
Segment profit margin Cardiovascular Portfolio Cardiovascular Portfolio segment profit margin ratio deteriorated from 2022 to 2023 and from 2023 to 2024.
Neuroscience Portfolio Neuroscience Portfolio segment profit margin ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.
Medical Surgical Portfolio Medical Surgical Portfolio segment profit margin ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.
Diabetes Operating Unit Diabetes Operating Unit segment profit margin ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Segment Profit Margin: Cardiovascular Portfolio

Medtronic PLC; Cardiovascular Portfolio; segment profit margin calculation

Microsoft Excel
Apr 26, 2024 Apr 28, 2023 Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019
Selected Financial Data (US$ in millions)
Segment operating profit 4,474 4,435 4,512 3,850 3,719 4,532
Net sales 11,831 11,573 11,423 10,772 10,468 11,505
Segment Profitability Ratio
Segment profit margin1 37.82% 38.32% 39.50% 35.74% 35.53% 39.39%

Based on: 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), 10-K (reporting date: 2019-04-26).

1 2024 Calculation
Segment profit margin = 100 × Segment operating profit ÷ Net sales
= 100 × 4,474 ÷ 11,831 = 37.82%

Segment profitability ratio Reportable segment The company
Segment profit margin Cardiovascular Portfolio Cardiovascular Portfolio segment profit margin ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Segment Profit Margin: Neuroscience Portfolio

Medtronic PLC; Neuroscience Portfolio; segment profit margin calculation

Microsoft Excel
Apr 26, 2024 Apr 28, 2023 Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019
Selected Financial Data (US$ in millions)
Segment operating profit 3,940 3,617 3,765 3,162 2,915 3,319
Net sales 9,406 8,959 8,784 8,195 7,725 8,183
Segment Profitability Ratio
Segment profit margin1 41.89% 40.37% 42.86% 38.58% 37.73% 40.56%

Based on: 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), 10-K (reporting date: 2019-04-26).

1 2024 Calculation
Segment profit margin = 100 × Segment operating profit ÷ Net sales
= 100 × 3,940 ÷ 9,406 = 41.89%

Segment profitability ratio Reportable segment The company
Segment profit margin Neuroscience Portfolio Neuroscience Portfolio segment profit margin ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.

Segment Profit Margin: Medical Surgical Portfolio

Medtronic PLC; Medical Surgical Portfolio; segment profit margin calculation

Microsoft Excel
Apr 26, 2024 Apr 28, 2023 Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019
Selected Financial Data (US$ in millions)
Segment operating profit 3,170 2,856 3,572 3,021 3,044 3,262
Net sales 8,417 8,433 9,141 8,737 8,352 8,478
Segment Profitability Ratio
Segment profit margin1 37.66% 33.87% 39.08% 34.58% 36.45% 38.48%

Based on: 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), 10-K (reporting date: 2019-04-26).

1 2024 Calculation
Segment profit margin = 100 × Segment operating profit ÷ Net sales
= 100 × 3,170 ÷ 8,417 = 37.66%

Segment profitability ratio Reportable segment The company
Segment profit margin Medical Surgical Portfolio Medical Surgical Portfolio segment profit margin ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.

Segment Profit Margin: Diabetes Operating Unit

Medtronic PLC; Diabetes Operating Unit; segment profit margin calculation

Microsoft Excel
Apr 26, 2024 Apr 28, 2023 Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019
Selected Financial Data (US$ in millions)
Segment operating profit 394 378 583 598 546 739
Net sales 2,488 2,262 2,338 2,413 2,368 2,391
Segment Profitability Ratio
Segment profit margin1 15.84% 16.71% 24.94% 24.78% 23.06% 30.91%

Based on: 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), 10-K (reporting date: 2019-04-26).

1 2024 Calculation
Segment profit margin = 100 × Segment operating profit ÷ Net sales
= 100 × 394 ÷ 2,488 = 15.84%

Segment profitability ratio Reportable segment The company
Segment profit margin Diabetes Operating Unit Diabetes Operating Unit segment profit margin ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Segment Return on Assets (Segment ROA)

Medtronic PLC, ROA by reportable segment

Microsoft Excel
Apr 26, 2024 Apr 28, 2023 Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019
Cardiovascular Portfolio 27.74% 27.63% 31.14% 25.62% 25.05% 29.33%
Neuroscience Portfolio 21.57% 19.72% 22.26% 18.44% 17.30% 19.73%
Medical Surgical Portfolio 9.44% 7.88% 9.67% 7.68% 7.67% 7.92%
Diabetes Operating Unit 9.86% 9.62% 15.35% 16.29% 17.25% 23.88%

Based on: 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), 10-K (reporting date: 2019-04-26).

Segment profitability ratio Reportable segment The company
Segment ROA Cardiovascular Portfolio Cardiovascular Portfolio segment ROA deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.
Neuroscience Portfolio Neuroscience Portfolio segment ROA deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.
Medical Surgical Portfolio Medical Surgical Portfolio segment ROA deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.
Diabetes Operating Unit Diabetes Operating Unit segment ROA deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.

Segment ROA: Cardiovascular Portfolio

Medtronic PLC; Cardiovascular Portfolio; segment ROA calculation

Microsoft Excel
Apr 26, 2024 Apr 28, 2023 Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019
Selected Financial Data (US$ in millions)
Segment operating profit 4,474 4,435 4,512 3,850 3,719 4,532
Total assets 16,128 16,051 14,490 15,027 14,844 15,453
Segment Profitability Ratio
Segment ROA1 27.74% 27.63% 31.14% 25.62% 25.05% 29.33%

Based on: 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), 10-K (reporting date: 2019-04-26).

1 2024 Calculation
Segment ROA = 100 × Segment operating profit ÷ Total assets
= 100 × 4,474 ÷ 16,128 = 27.74%

Segment profitability ratio Reportable segment The company
Segment ROA Cardiovascular Portfolio Cardiovascular Portfolio segment ROA deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.

Segment ROA: Neuroscience Portfolio

Medtronic PLC; Neuroscience Portfolio; segment ROA calculation

Microsoft Excel
Apr 26, 2024 Apr 28, 2023 Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019
Selected Financial Data (US$ in millions)
Segment operating profit 3,940 3,617 3,765 3,162 2,915 3,319
Total assets 18,270 18,346 16,917 17,151 16,850 16,825
Segment Profitability Ratio
Segment ROA1 21.57% 19.72% 22.26% 18.44% 17.30% 19.73%

Based on: 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), 10-K (reporting date: 2019-04-26).

1 2024 Calculation
Segment ROA = 100 × Segment operating profit ÷ Total assets
= 100 × 3,940 ÷ 18,270 = 21.57%

Segment profitability ratio Reportable segment The company
Segment ROA Neuroscience Portfolio Neuroscience Portfolio segment ROA deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.

Segment ROA: Medical Surgical Portfolio

Medtronic PLC; Medical Surgical Portfolio; segment ROA calculation

Microsoft Excel
Apr 26, 2024 Apr 28, 2023 Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019
Selected Financial Data (US$ in millions)
Segment operating profit 3,170 2,856 3,572 3,021 3,044 3,262
Total assets 33,586 36,248 36,940 39,319 39,666 41,186
Segment Profitability Ratio
Segment ROA1 9.44% 7.88% 9.67% 7.68% 7.67% 7.92%

Based on: 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), 10-K (reporting date: 2019-04-26).

1 2024 Calculation
Segment ROA = 100 × Segment operating profit ÷ Total assets
= 100 × 3,170 ÷ 33,586 = 9.44%

Segment profitability ratio Reportable segment The company
Segment ROA Medical Surgical Portfolio Medical Surgical Portfolio segment ROA deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.

Segment ROA: Diabetes Operating Unit

Medtronic PLC; Diabetes Operating Unit; segment ROA calculation

Microsoft Excel
Apr 26, 2024 Apr 28, 2023 Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019
Selected Financial Data (US$ in millions)
Segment operating profit 394 378 583 598 546 739
Total assets 3,996 3,930 3,797 3,671 3,165 3,095
Segment Profitability Ratio
Segment ROA1 9.86% 9.62% 15.35% 16.29% 17.25% 23.88%

Based on: 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), 10-K (reporting date: 2019-04-26).

1 2024 Calculation
Segment ROA = 100 × Segment operating profit ÷ Total assets
= 100 × 394 ÷ 3,996 = 9.86%

Segment profitability ratio Reportable segment The company
Segment ROA Diabetes Operating Unit Diabetes Operating Unit segment ROA deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.

Segment Asset Turnover

Medtronic PLC, asset turnover by reportable segment

Microsoft Excel
Apr 26, 2024 Apr 28, 2023 Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019
Cardiovascular Portfolio 0.73 0.72 0.79 0.72 0.71 0.74
Neuroscience Portfolio 0.51 0.49 0.52 0.48 0.46 0.49
Medical Surgical Portfolio 0.25 0.23 0.25 0.22 0.21 0.21
Diabetes Operating Unit 0.62 0.58 0.62 0.66 0.75 0.77

Based on: 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), 10-K (reporting date: 2019-04-26).

Segment activity ratio Reportable segment The company
Segment asset turnover Cardiovascular Portfolio Cardiovascular Portfolio segment asset turnover ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.
Neuroscience Portfolio Neuroscience Portfolio segment asset turnover ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.
Medical Surgical Portfolio Medical Surgical Portfolio segment asset turnover ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
Diabetes Operating Unit Diabetes Operating Unit segment asset turnover ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Segment Asset Turnover: Cardiovascular Portfolio

Medtronic PLC; Cardiovascular Portfolio; segment asset turnover calculation

Microsoft Excel
Apr 26, 2024 Apr 28, 2023 Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019
Selected Financial Data (US$ in millions)
Net sales 11,831 11,573 11,423 10,772 10,468 11,505
Total assets 16,128 16,051 14,490 15,027 14,844 15,453
Segment Activity Ratio
Segment asset turnover1 0.73 0.72 0.79 0.72 0.71 0.74

Based on: 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), 10-K (reporting date: 2019-04-26).

1 2024 Calculation
Segment asset turnover = Net sales ÷ Total assets
= 11,831 ÷ 16,128 = 0.73

Segment activity ratio Reportable segment The company
Segment asset turnover Cardiovascular Portfolio Cardiovascular Portfolio segment asset turnover ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.

Segment Asset Turnover: Neuroscience Portfolio

Medtronic PLC; Neuroscience Portfolio; segment asset turnover calculation

Microsoft Excel
Apr 26, 2024 Apr 28, 2023 Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019
Selected Financial Data (US$ in millions)
Net sales 9,406 8,959 8,784 8,195 7,725 8,183
Total assets 18,270 18,346 16,917 17,151 16,850 16,825
Segment Activity Ratio
Segment asset turnover1 0.51 0.49 0.52 0.48 0.46 0.49

Based on: 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), 10-K (reporting date: 2019-04-26).

1 2024 Calculation
Segment asset turnover = Net sales ÷ Total assets
= 9,406 ÷ 18,270 = 0.51

Segment activity ratio Reportable segment The company
Segment asset turnover Neuroscience Portfolio Neuroscience Portfolio segment asset turnover ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.

Segment Asset Turnover: Medical Surgical Portfolio

Medtronic PLC; Medical Surgical Portfolio; segment asset turnover calculation

Microsoft Excel
Apr 26, 2024 Apr 28, 2023 Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019
Selected Financial Data (US$ in millions)
Net sales 8,417 8,433 9,141 8,737 8,352 8,478
Total assets 33,586 36,248 36,940 39,319 39,666 41,186
Segment Activity Ratio
Segment asset turnover1 0.25 0.23 0.25 0.22 0.21 0.21

Based on: 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), 10-K (reporting date: 2019-04-26).

1 2024 Calculation
Segment asset turnover = Net sales ÷ Total assets
= 8,417 ÷ 33,586 = 0.25

Segment activity ratio Reportable segment The company
Segment asset turnover Medical Surgical Portfolio Medical Surgical Portfolio segment asset turnover ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Segment Asset Turnover: Diabetes Operating Unit

Medtronic PLC; Diabetes Operating Unit; segment asset turnover calculation

Microsoft Excel
Apr 26, 2024 Apr 28, 2023 Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019
Selected Financial Data (US$ in millions)
Net sales 2,488 2,262 2,338 2,413 2,368 2,391
Total assets 3,996 3,930 3,797 3,671 3,165 3,095
Segment Activity Ratio
Segment asset turnover1 0.62 0.58 0.62 0.66 0.75 0.77

Based on: 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), 10-K (reporting date: 2019-04-26).

1 2024 Calculation
Segment asset turnover = Net sales ÷ Total assets
= 2,488 ÷ 3,996 = 0.62

Segment activity ratio Reportable segment The company
Segment asset turnover Diabetes Operating Unit Diabetes Operating Unit segment asset turnover ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Net sales

Medtronic PLC, net sales by reportable segment

US$ in millions

Microsoft Excel
Apr 26, 2024 Apr 28, 2023 Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019
Cardiovascular Portfolio 11,831 11,573 11,423 10,772 10,468 11,505
Neuroscience Portfolio 9,406 8,959 8,784 8,195 7,725 8,183
Medical Surgical Portfolio 8,417 8,433 9,141 8,737 8,352 8,478
Diabetes Operating Unit 2,488 2,262 2,338 2,413 2,368 2,391
Segments 32,142 31,227 31,686 30,117 28,913 30,557

Based on: 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), 10-K (reporting date: 2019-04-26).


Segment operating profit

Medtronic PLC, segment operating profit by reportable segment

US$ in millions

Microsoft Excel
Apr 26, 2024 Apr 28, 2023 Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019
Cardiovascular Portfolio 4,474 4,435 4,512 3,850 3,719 4,532
Neuroscience Portfolio 3,940 3,617 3,765 3,162 2,915 3,319
Medical Surgical Portfolio 3,170 2,856 3,572 3,021 3,044 3,262
Diabetes Operating Unit 394 378 583 598 546 739
Segments 11,978 11,286 12,432 10,631 10,224 11,852

Based on: 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), 10-K (reporting date: 2019-04-26).


Total assets

Medtronic PLC, total assets by reportable segment

US$ in millions

Microsoft Excel
Apr 26, 2024 Apr 28, 2023 Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019
Cardiovascular Portfolio 16,128 16,051 14,490 15,027 14,844 15,453
Neuroscience Portfolio 18,270 18,346 16,917 17,151 16,850 16,825
Medical Surgical Portfolio 33,586 36,248 36,940 39,319 39,666 41,186
Diabetes Operating Unit 3,996 3,930 3,797 3,671 3,165 3,095
Segments 71,980 74,575 72,144 75,168 74,525 76,559

Based on: 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), 10-K (reporting date: 2019-04-26).