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Medtronic Asset Turnover

: 0.08 (As of Jul. 2022)
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Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. Medtronic's Revenue for the three months ended in Jul. 2022 was $7,371 Mil. Medtronic's Total Assets for the quarter that ended in Jul. 2022 was $90,448 Mil. Therefore, Medtronic's Asset Turnover for the quarter that ended in Jul. 2022 was 0.08.

Asset Turnover is linked to ROE % through Du Pont Formula. Medtronic's annualized ROE % for the quarter that ended in Jul. 2022 was 7.06%. It is also linked to ROA % through Du Pont Formula. Medtronic's annualized ROA % for the quarter that ended in Jul. 2022 was 4.11%.


Medtronic Asset Turnover Historical Data

The historical data trend for Medtronic's Asset Turnover can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Medtronic Annual Data
Trend Apr13 Apr14 Apr15 Apr16 Apr17 Apr18 Apr19 Apr20 Apr21 Apr22
Asset Turnover
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.31 0.34 0.32 0.33 0.34

Medtronic Quarterly Data
Oct17 Jan18 Apr18 Jul18 Oct18 Jan19 Apr19 Jul19 Oct19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22
Asset Turnover Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.09 0.09 0.09 0.09 0.08

Medtronic Asset Turnover Calculation

Asset Turnover measures how quickly a company turns over its asset through sales.

Medtronic's Asset Turnover for the fiscal year that ended in Apr. 2022 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (A: Apr. 2022 )/( (Total Assets (A: Apr. 2021 )+Total Assets (A: Apr. 2022 ))/ count )
=31686/( (93083+90981)/ 2 )
=31686/92032
=0.34

Medtronic's Asset Turnover for the quarter that ended in Jul. 2022 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (Q: Jul. 2022 )/( (Total Assets (Q: Apr. 2022 )+Total Assets (Q: Jul. 2022 ))/ count )
=7371/( (90981+89914)/ 2 )
=7371/90447.5
=0.08

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Companies with low profit margins tend to have high Asset Turnover, while those with high profit margins have low Asset Turnover. Companies in the retail industry tend to have a very high turnover ratio.


Medtronic  (NYSE:MDT) Asset Turnover Explanation

Asset Turnover is linked to ROE % through Du Pont Formula.

Medtronic's annulized ROE % for the quarter that ended in Jul. 2022 is

ROE %**(Q: Jul. 2022 )
=Net Income/Total Stockholders Equity
=3716/52611.5
=(Net Income / Revenue)*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(3716 / 29484)*(29484 / 90447.5)*(90447.5/ 52611.5)
=Net Margin %*Asset Turnover*Equity Multiplier
=12.6 %*0.326*1.7192
=ROA %*Equity Multiplier
=4.11 %*1.7192
=7.06 %

Note: The Net Income data used here is four times the quarterly (Jul. 2022) net income data. The Revenue data used here is four times the quarterly (Jul. 2022) revenue data.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

** The ROE % used above is for Du Pont Analysis only. It is different from the defined ROE % page on our website, as here it uses Net Income instead of Net Income attributable to Common Stockholders in the calculation.

It is also linked to ROA % through Du Pont Formula:

Medtronic's annulized ROA % for the quarter that ended in Jul. 2022 is

ROA %(Q: Jul. 2022 )
=Net Income/Total Assets
=3716/90447.5
=(Net Income / Revenue)*(Revenue / Total Assets)
=(3716 / 29484)*(29484 / 90447.5)
=Net Margin %*Asset Turnover
=12.6 %*0.326
=4.11 %

Note: The Net Income data used here is four times the quarterly (Jul. 2022) net income data. The Revenue data used here is four times the quarterly (Jul. 2022) revenue data.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Be Aware

In the article Joining The Dark Side: Pirates, Spies and Short Sellers, James Montier reported that In their US sample covering the period 1968-2003, Cooper et al find that firms with low asset growth outperformed firms with high asset growth by an astounding 20% p.a. equally weighted. Even when controlling for market, size and style, low asset growth firms outperformed high asset growth firms by 13% p.a. Therefore a company with fast asset growth may underperform.

Therefore, it is a good sign if a company's Asset Turnover is consistent or even increases. If a company's asset grows faster than sales, its Asset Turnover will decline, which can be a warning sign.


Medtronic Asset Turnover Related Terms

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Medtronic Business Description

Medtronic logo
Address
Lower Hatch Street, 20 On Hatch, Dublin, IRL, 2
One of the largest medical device companies, Medtronic develops and manufactures therapeutic medical devices for chronic diseases. Its portfolio includes pacemakers, defibrillators, heart valves, stents, insulin pumps, spinal fixation devices, neurovascular products, advanced energy, and surgical tools. The company markets its products to healthcare institutions and physicians in the United States and overseas. Foreign sales account for almost 50% of the company's total sales.
Executives
Fong Ivan K officer: EVP GENERAL COUNSEL & SECR 3M CENTER ST. PAUL MN 55144-1000
Kirk Jennifer M officer: Chief Accounting Officer 5 GREENWAY PLAZA SUITE 110 HOUSTON TX 77046
Lofton Kevin E director GILEAD SCIENCES, INC. 333 LAKESIDE DRIVE FOSTER CITY CA 94404
Wall Brett A. officer: EVP & Group Pres Restora Thera 710 MEDTRONIC PARKWAY LC300 MINNEAPOLIS MN 55432
Salmon Sean officer: EVP & Group President Diabetes MEDTRONIC PLC, 710 MEDTRONIC PARKWAY LC300 MINNEAPOLIS MN 55432
Goldsmith Andrea Jo director 1220 AUGUSTA DRIVE SUITE 600 HOUSTON TX 77057
Liddicoat John R officer: EVP & President of Americas MEDTRONIC PLC 710 MEDTRONIC PKWY, MS LC300 MINNEAPOLIS MN 55432
White Robert John officer: EVP & President MITG MEDTRONIC PLC 710 MEDTRONIC PKWY MS LC300 MINNEAPOLIS MN 55432
Parkhill Karen L officer: EVP & Chief Financial Officer 1717 MAIN STREET, MC 6402 DALLAS TX 75201
Reddy Preetha director APOLLO HOSPITALS 21 GREAMS LN, OFF GREAMS RD CHENNAI K7 600006
Ellis Gary Lee officer: EVP & Chief Financial Officer THE TORO COMPANY 8111 LYNDALE AVENUE SOUTH BLOOMINGTON MN 55420
Hanson Bryan C officer: EVP AND PRESIDENT, COVIDIEN ZIMMER BIOMET HOLDINGS 345 E. MAIN STREET WARSAW IN 46580
Hakami Hooman officer: EVP & Group President Diabetes 710 MEDTRONIC PKWY MSLC300 MINNEAPOLIS MN 55432
Oconnell Christopher J officer: See Remarks MEDTRONIC, INC. 710 MEDTRONIC PKWY MINNEAPOLIS MN 55432
Lenehan James T director C/O MEDTRONIC INC 710 MEDTRONIC PKWY MS LC300 MINNEAPOLIS MN 55432

Medtronic Headlines

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