Company Valuation: Medtronic plc

Data adjusted to current consolidation scope
Fiscal Period: April 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 1,76,867 1,46,872 1,19,326 1,05,230 1,07,939 1,29,817 - -
Change - -16.96% -18.76% -11.81% 2.57% 20.27% - -
Enterprise Value (EV) 1 1,99,663 1,67,272 1,42,147 1,28,970 1,34,237 1,52,477 1,50,438 1,47,966
Change - -16.22% -15.02% -9.27% 4.08% 13.59% -1.34% -1.64%
P/E ratio 49.3x 29.4x 31.8x 28.7x 23.3x 23.3x 21.4x 19.5x
PBR 3.43x 2.77x 2.32x 2.07x 2.3x 2.65x 2.55x 2.43x
PEG - 0.7x -1.3x -13.49x 0.8x 1.1x 2.36x 2.03x
Capitalization / Revenue 5.87x 4.64x 3.82x 3.25x 3.22x 3.6x 3.4x 3.23x
EV / Revenue 6.63x 5.28x 4.55x 3.98x 4x 4.23x 3.94x 3.69x
EV / EBITDA 24.7x 17x 15.3x 14x 13.8x 14.9x 13.6x 12.4x
EV / EBIT 27.8x 18.9x 17.1x 15.6x 15.5x 16.8x 15.4x 14.2x
EV / FCF 40.9x 28x 31x 24.8x 25.9x 26.1x 22.7x 20.4x
FCF Yield 2.45% 3.57% 3.22% 4.03% 3.86% 3.83% 4.4% 4.91%
Dividend per Share 2 2.32 2.72 2.72 2.8 2.8 2.844 2.966 3.063
Rate of return 1.77% 2.48% 3.03% 3.53% 3.33% 2.81% 2.93% 3.02%
EPS 2 2.66 3.73 2.82 2.76 3.61 4.342 4.736 5.19
Distribution rate 87.2% 72.9% 96.5% 101% 77.6% 65.5% 62.6% 59%
Net sales 1 30,117 31,686 31,227 32,364 33,537 36,058 38,140 40,132
EBITDA 1 8,096 9,830 9,294 9,226 9,702 10,230 11,053 11,896
EBIT 1 7,177 8,856 8,295 8,272 8,648 9,049 9,791 10,393
Net income 1 3,606 5,039 3,758 3,676 4,662 5,396 6,042 6,574
Net Debt 1 22,796 20,400 22,821 23,740 26,298 22,660 20,621 18,149
Reference price 2 131.20 109.48 89.69 79.25 84.16 101.26 101.26 101.26
Nbr of stocks (in thousands) 13,48,073 13,41,539 13,30,424 13,27,823 12,82,544 12,82,014 - -
Announcement Date 27/05/21 26/05/22 25/05/23 23/05/24 21/05/25 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
23.34x4.23x14.92x2.81% 13TCr
31.45x4.96x18.65x1.9% 22TCr
23.38x0.2x13.32x0.68% 6.59TCr
28.56x3.15x10.81x2.11% 5.54TCr
36.42x8.22x22.88x1.07% 5.2TCr
32.38x4.57x16.52x0.93% 2.58TCr
31.72x5.53x18.99x-.--% 2.55TCr
63.66x7.67x25x0.39% 2.41TCr
24.91x3.1x12.4x1.26% 2.25TCr
87.34x8.04x34.2x-.--% 2.14TCr
Average 38.31x 4.97x 18.77x 1.11% 6.4TCr
Weighted average by Cap. 32.03x 4.58x 17.48x 1.65%
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Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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