Market Cap : 125.54 B | Enterprise Value : 139.78 B | PE Ratio : 25.33 | PB Ratio : 2.39 |
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Good Sign:
Altman Z-score of 3.15 is strong.
Medtronic has a Altman Z-Score of 3.14, indicating it is in Safe Zones. This implies the Altman Z-Score is strong.
The zones of discrimination were as such:
When Altman Z-Score <= 1.8, it is in Distress Zones.
When Altman Z-Score >= 3, it is in Safe Zones.
When Altman Z-Score is between 1.8 and 3, it is in Grey Zones.
The historical rank and industry rank for Medtronic's Altman Z-Score or its related term are showing as below:
During the past 13 years, Medtronic's highest Altman Z-Score was 34.95. The lowest was 2.32. And the median was 5.41.
The historical data trend for Medtronic's Altman Z-Score 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.
For the Medical Devices subindustry, Medtronic's Altman Z-Score, along with its competitors' market caps and Altman Z-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Medical Devices & Instruments industry and Healthcare sector, Medtronic's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Medtronic's Altman Z-Score falls into.
Altman Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
Medtronic's Altman Z-Score for today is calculated with this formula:
Z | = | 1.2 | * | X1 | + | 1.4 | * | X2 | + | 3.3 | * | X3 | + | 0.6 | * | X4 | + | 1.0 | * | X5 |
= | 1.2 | * | 0.1172 | + | 1.4 | * | 0.3325 | + | 3.3 | * | 0.0667 | + | 0.6 | * | 3.2812 | + | 1.0 | * | 0.3483 | |
= | 3.14 |
* 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. GuruFocus does not calculate Altman Z-Score when X4 or X5 value is 0.
Trailing Twelve Months (TTM) ended in Apr. 2022:
Total Assets was $90,981 Mil.
Total Current Assets was $23,059 Mil.
Total Current Liabilities was $12,394 Mil.
Retained Earnings was $30,250 Mil.
Pre-Tax Income was 1602 + 1589 + 1493 + 833 = $5,517 Mil.
Interest Expense was -143 + -137 + -136 + -137 = $-553 Mil.
Revenue was 8089 + 7763 + 7847 + 7987 = $31,686 Mil.
Market Cap (Today) was $125,536 Mil.
Total Liabilities was $38,259 Mil.
* Note that for stock reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data.
X1 | = | Working Capital | / | Total Assets |
= | (Total Current Assets - Total Current Liabilities) | / | Total Assets | |
= | (23059 - 12394) | / | 90981 | |
= | 0.1172 |
X2 | = | Retained Earnings | / | Total Assets |
= | 30250 | / | 90981 | |
= | 0.3325 |
X3 | = | Earnings Before Interest and Taxes | / | Total Assets |
= | (Pre-Tax Income - Interest Expense) | / | Total Assets | |
= | (5517 - -553) | / | 90981 | |
= | 0.0667 |
X4 | = | Market Value Equity | / | Book Value of Total Liabilities |
= | Market Cap | / | Total Liabilities | |
= | 125536.456 | / | 38259 | |
= | 3.2812 |
X5 | = | Revenue | / | Total Assets |
= | 31686 | / | 90981 | |
= | 0.3483 |
The zones of discrimination were as such:
Distress Zones - 1.81 < Grey Zones < 2.99 - Safe Zones
Medtronic has a Altman Z-Score of 3.14 indicating it is in Safe Zones.
Study by Altman found that companies that are in Distress Zone have more than 80% of chances of bankruptcy in two years.
X1: The Working Capital/Total Assets (WC/TA) ratio is a measure of the net liquid assets of the firm relative to the total capitalization. Working capital is defined as the difference between current assets and current liabilities. Ordinarily, a firm experiencing consistent operating losses will have shrinking current assets in relation to total assets. Altman found this one proved to be the most valuable liquidity ratio comparing with the current ratio and the quick ratio. This is however the least significant of the five factors.
X2: Retained Earnings/Total Assets: the RE/TA ratio measures the leverage of a firm. Retained earnings is the account which reports the total amount of reinvested earnings and/or losses of a firm over its entire life. Those firms with high RE, relative to TA, have financed their assets through retention of profits and have not utilized as much debt.
X3, Earnings Before Interest and Taxes/Total Assets (EBIT/TA): This ratio is a measure of the true productivity of the firm's assets, independent of any tax or leverage factors. Since a firm's ultimate existence is based on the earning power of its assets, this ratio appears to be particularly appropriate for studies dealing with corporate failure. This ratio continually outperforms other profitability measures, including cash flow.
X4, Market Value of Equity/Book Value of Total Liabilities (MVE/TL): The measure shows how much the firm's assets can decline in value (measured by market value of equity plus debt) before the liabilities exceed the assets and the firm becomes insolvent.
X5, Revenue/Total Assets (S/TA): The capital-turnover ratio is a standard financial ratio illustrating the sales generating ability of the firm's assets.
Read more about Altman Z-Score and the original research.
Altman Z-Score does not apply to financial companies.
Thank you for viewing the detailed overview of Medtronic's Altman Z-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
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 |
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