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Medtronic plc

NYSE: MDT · USD

Medtronic plc debt and dilution58

Borrowings, liquidity, share count and stock-based dilution.

Total debt

USD millions

$28,153M
Jan 23, 2015 through Jul 31, 2026

Cash & equivalents

USD millions

$1,691M

Net debt

USD millions

$26,462M

Debt / equity

×

0.55×

Debt / assets

%

30.17%

Net debt / EBITDA

× · TTM

2.72×

Debt / FCF

× · TTM

4.59×

Interest coverage

× · TTM

9.37×

Current ratio

×

2.07×

Diluted shares

Million shares

1,285.1M shares

Basic shares

Million shares

1,279.8M shares

Share count growth

%

-0.14%

Share repurchases

USD millions

$267M

Quarterly data

Medtronic plc capital history. Each metric has its own unit. A dash means inputs are missing or the calculation is undefined.
Fiscal periodEndedTotal debtUSD millionsCash & equivalentsUSD millionsNet debtUSD millionsDebt / equity×Debt / assets%Net debt / EBITDA×Debt / FCF×Interest coverage×Current ratio×Diluted sharesMillion sharesBasic sharesMillion sharesShare count growth%Share repurchasesUSD millions
FY 2027 Q1Jul 31, 202628,1531,69126,4620.55×30.17%2.72×4.59×9.37×2.07×1,285.11,279.8-0.14%267
FY 2026 Q4Apr 24, 202627,9611,94926,0120.56×30.06%2.76×5.15×9.04×2.13×1,287.81,280.9-0.11%435
FY 2026 Q3Jan 23, 202628,0711,14726,9240.57×30.68%2.95×5.19×8.47×2.54×1,289.51,282.60.02%105
FY 2026 Q2Oct 24, 202529,1001,28227,8180.6×31.86%3.01×5.59×8.75×2.42×1,2881,282-0.03%372
FY 2026 Q1Jul 25, 202528,6091,27327,3360.59×31.45%3.01×5.39×8.3×2.01×1,287.11,281.6-0.9%123
FY 2025 Q4Apr 25, 202528,5162,21826,2980.59×31.1%2.98×5.5×8.17×1.85×1,287.81,282.3-2.89%274
FY 2025 Q3Jan 24, 202526,6071,24025,3670.54×29.57%3.08×4.87×7.36×1.9×1,286.21,282.4-3.56%181
FY 2025 Q2Oct 25, 202428,3261,39426,9320.58×31.46%3.35×5.15×7.06×1.84×1,286.91,282.4-3.59%288
FY 2025 Q1Jul 26, 202427,8651,31126,5540.58×31.05%3.41×5.42×6.99×2.13×1,296.51,293.3-2.8%2,492
FY 2024 Q4Apr 26, 202425,0241,28423,7400.5×27.81%3.05×4.81×7.15×2.03×1,323.61,320.5-0.74%1,628
FY 2024 Q3Jan 26, 202425,1821,62323,5590.48×27.72%2.83×5.11×8.05×2.3×1,331.71,329.7-0.04%132
FY 2024 Q2Oct 27, 202325,0801,31123,7690.49×27.84%2.88×6.2×8.16×2.29×1,331.91,330.20.06%226
FY 2024 Q1Jul 28, 202324,9821,33923,6430.49×27.52%2.84×5.62×9.08×2.42×1,333.81,330.50.08%152
FY 2023 Q4Apr 28, 202324,3641,54322,8210.47×26.79%2.79×5.32×8.62×2.39×1,332.81,330.4-0.45%97
FY 2023 Q3Jan 27, 202328,1284,52123,6070.54×29.88%2.84×6.75×9.45×1.76×1,3321,330.2-1%71
FY 2023 Q2Oct 28, 202226,6174,82821,7890.51×28.55%2.55×5.52×10.43×1.76×1,3321,329.4-1.17%141
FY 2023 Q1Jul 29, 202223,2102,14021,0700.44×25.81%2.42×4.06×10.38×1.58×1,334.51,329.4-1.12%336
FY 2022 Q4Apr 29, 202224,1143,71420,4000.46×26.5%2.41×4.03×10.4×1.86×1,343.91,336.4-0.79%1,406
FY 2022 Q3Jan 28, 202225,1553,47921,6760.48×27.4%2.58×4.43×10.3×2.61×1,350.31,343.7-0.2%394
FY 2022 Q2Oct 29, 202125,6232,90022,7230.49×27.93%2.84×4.44×9.51×2.91×1,355.31,345.10.05%429
FY 2022 Q1Jul 30, 202125,9643,00422,9600.5×28.28%3.11×4.43×5.24×2.89×1,356.41,344.50.19%315
FY 2021 Q4Apr 30, 202126,3893,59322,7960.51×28.35%3.17×5.4×4.85×2.65×1,3581,347.050.47%575
FY 2021 Q3Jan 29, 202130,3235,07725,2460.6×31.17%4.29×6.55×3.38×2.1×1,3561,346.40.44%9
FY 2021 Q2Oct 30, 202030,0086,42023,5880.6×31.3%3.78×6.31×3.71×2.16×1,352.11,344.40.27%68
FY 2021 Q1Jul 31, 202028,6906,49922,1910.57×30.55%3.33×6.03×6.08×1.87×1,3501,341.90.08%0
FY 2020 Q4Apr 24, 202024,7974,14020,6570.49×27.34%2.77×4.12×4.39×2.13×1,349.61,340.7-0.04%118
FY 2020 Q3Jan 24, 202025,5763,70921,8670.49×27.55%2.41×3.84×3.9×2.75×1,351.51,340.5-0.17%246
FY 2020 Q2Oct 25, 201925,6273,96221,6650.51×28.15%2.41×4.07×3.64×2.77×1,351.41,340.8-0.62%629
FY 2020 Q1Jul 26, 201926,2625,08021,1820.52×28.77%2.31×4.63×3.6×2.67×1,351.91,340.8-0.88%333
FY 2019 Q4Apr 26, 201925,3244,39320,9310.5×28.23%2.34×4.31×4.34×2.59×1,351.51,341.3-1.03%149
FY 2019 Q3Jan 25, 201925,0303,70321,3270.5×28.21%2.39×5.14×6×2.36×1,352.71,342.8-0.83%681
FY 2019 Q2Oct 26, 201825,0163,91121,1050.5×28.38%2.4×5.14×5.74×2.56×1,360.91,349.2-0.44%1,223
FY 2019 Q1Jul 27, 201825,2234,38020,8430.5×28.11%2.27×5.52×5.9×2.46×1,365.41,352.7-0.68%824
FY 2018 Q4Apr 27, 201825,7573,66922,0880.51×28.18%2.38×7.12×5.8×2.28×1,366.11,355.2-1.07%207
FY 2018 Q3Jan 26, 201828,8206,35822,4620.57×30.08%2.48×6.68×5.67×2.43×1,3541,354-1.33%76
FY 2018 Q2Oct 27, 201729,0725,52923,5430.56×30.78%2.67×6.73×5.43×2.4×1,365.81,355.1-1.8%655
FY 2018 Q1Jul 28, 201734,0114,69129,3200.67×33.93%3.5×6.99×5.01×1.64×1,375.61,361.9-2.18%1,233
FY 2017 Q4Apr 28, 201733,4414,96728,4740.66×33.5%3.45×5.94×4.87×1.75×1,381.51,369.9-2.2%135
FY 2017 Q3Jan 27, 201732,1492,76829,3810.65×32.95%3.62×6.24×4.05×1.77×1,383.11,372.2-2.45%615
FY 2017 Q2Oct 28, 201632,3772,95429,4230.64×32.9%3.54×6.54×4.19×2.35×1,392.51,380-2.33%1,031
FY 2017 Q1Jul 29, 201632,0713,06029,0110.63×32.53%3.55×6.68×3.94×2.98×1,407.11,392.2-1.83%1,763
FY 2016 Q4Apr 29, 201631,2402,87628,3640.6×31.31%3.5×7.49×3.82×3.29×1,415.751,400.68-1.51%660
FY 2016 Q3Jan 29, 201635,8342,72133,1130.71×34.89%4.77×7.38×3.46×3.39×1,422.21,406.642.98%710
FY 2016 Q2Oct 30, 201535,8482,37833,4700.69×34.16%5.26×7.22×3.69×3.53×1,428.81,412.9—710
FY 2016 Q1Jul 31, 201535,5592,97932,5800.67×33.99%———3.81×1,436.41,418.1—750
FY 2015 Q4Apr 24, 201536,1864,84331,3430.68×33.92%6.18×8.36×5.65×3.36×1,440.51,422.2—300
FY 2015 Q3Jan 23, 2015—0.05——————0×995.8983.8—0
Sources and calculations

Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.

Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.

The SBC option subtracts reported share-based compensation from FCF as an economic-cost scenario. Missing SBC never becomes zero.

Debt uses reported borrowings, with overlapping concepts treated as alternatives. Cash excludes restricted cash and short-term investments. Dilution compares split-normalized weighted average basic shares year over year. Share buyback spending does not by itself measure shares retired.

Market prices: Yahoo Finance · MDT, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.

Total debt
Reported borrowing balances. Uses an aggregate including current maturities, or current plus noncurrent debt. Adds separately disclosed short-term borrowings, with commercial paper as a fallback, unless the selected current/aggregate concept already includes them. Finance leases are included when part of the reported debt concept; undisclosed components are not estimated.
Cash & equivalents
Unrestricted reported cash and cash equivalents. Excludes short-term investments and restricted cash.
Net debt
Total debt − cash and equivalents. Negative means net cash.
Debt / equity
Total debt / equity including noncontrolling interests. Nonpositive equity yields unavailable.
Debt / assets
Total debt / total assets × 100.
Net debt / EBITDA
Period-end net debt / (TTM operating income + TTM depreciation and amortization). Negative net debt is retained.
Debt / FCF
Period-end reported debt / positive TTM free cash flow. Reflects the selected reported capex scope and SBC option.
Interest coverage
TTM operating income / positive TTM interest expense. IFRS finance costs can include more than interest.
Current ratio
Current assets / positive current liabilities.
Diluted shares
Reported weighted average diluted shares, normalized for subsequent recorded stock splits. Fourth-quarter counts use a day-weighted annual/nine-month reconstruction where possible.
Basic shares
Reported weighted average basic shares, normalized for subsequent recorded stock splits.
Share count growth
Year-over-year change in split-normalized weighted average basic shares × 100. A dilution proxy; negative means a lower share count.
Share repurchases
Reported cash payments for repurchase of common shares. This is spending, not a buyback yield.