May 22, 2024 14:40 GMT
Medtronic: 4Q24 Preview
HEALTHCARE
Medtronic (MDT: A3 /A) 4Q24 Preview
Medtronic has EUR 2.5bn due in 2025 and has not issued since 2023. The company took on significant debt in 2015 but had reduced this to a stable total of $25bn since 2019. With a weighted average maturity of 10.6yrs the company’s policy is to keep rolling the debt over at reasonably long tenors. The rating has been stable at A3/A for 7yrs+.
MDT is very well covered on the equity analyst side so average estimates should be a good guide.
- Revenue $8.4b
- EBITDA $2.66b
- Net Debt $14.6b
- FCF $2.1b
Watch for issuance in the days following results.
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