Enterprise Value (EV)
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Medtronic PLC pages available for free this week:
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Reportable Segments
- Price to FCFE (P/FCFE)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Analysis of Revenues
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Current Enterprise Value (EV)
Medtronic PLC, current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in millions | |
| Common equity (market value)1 | |
| Add: Noncontrolling interests (per books) | |
| Total equity | |
| Add: Current debt obligations (per books) | |
| Add: Long-term debt (per books) | |
| Total equity and debt | |
| Less: Cash and cash equivalents | |
| Less: Investments | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2026-04-24).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
Medtronic PLC, EV calculation
Based on: 10-K (reporting date: 2026-04-24), 10-K (reporting date: 2025-04-25), 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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Medtronic PLC Annual Report.
3 2026 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
A significant contraction in valuation is observed over the period from April 2021 to April 2026. The overarching trend is characterized by a substantial reduction in market equity and enterprise value, with a temporary period of stabilization and slight growth occurring in 2025 before returning to a downward trajectory in 2026.
- Market Equity Trends
- Common equity market value experienced a steep decline, falling from 167,894 million in 2021 to 101,559 million by 2026. The most pronounced drop occurred between 2021 and 2022, where the value decreased by approximately 29.6%.
- Capital Structure and Total Liabilities
- Total equity and debt followed a similar downward pattern, decreasing from 194,457 million in 2021 to 130,129 million in 2026. This indicates a general reduction in the total capital base over the analyzed period.
- Enterprise Value (EV) Analysis
- Enterprise value declined from 183,640 million in 2021 to 120,909 million in 2026. The EV remained consistently higher than the market value of equity throughout the period, confirming a sustained net debt position. A momentary increase to 130,407 million was noted in 2025, though this gain was erased by 2026.