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Medtronic plc (MDT)

Medtronic is a healthcare technology company headquartered in Galway, Ireland, founded in 1949 and serving healthcare systems, physicians, clinicians and patients in more than 150 countries. Its mission, written by its founder in 1960, commits it to applying biomedical engineering in the research, design, manufacture and sale of products to alleviate pain, restore health and extend life. It reports three segments that develop, make, distribute and sell device-based medical therapies and services: the Cardiovascular Portfolio, the Neuroscience Portfolio and the Medical Surgical Portfolio. In May 2025 it announced its intention to separate the Diabetes Business into an independent public company, MiniMed Group, which completed an initial public offering on 9 March 2026, after which the Diabetes Operating Unit stopped being a reportable segment in the fourth quarter of fiscal 2026.

Medtronic plc

Medtronic is a healthcare technology company headquartered in Galway, Ireland, founded in 1949 and serving healthcare systems, physicians, clinicians and patients in more than 150 countries. Its mission, written by its founder in 1960, commits it to applying biomedical engineering in the research, design, manufacture and sale of products to alleviate pain, restore health and extend life. It reports three segments that develop, make, distribute and sell device-based medical therapies and services: the Cardiovascular Portfolio, the Neuroscience Portfolio and the Medical Surgical Portfolio. In May 2025 it announced its intention to separate the Diabetes Business into an independent public company, MiniMed Group, which completed an initial public offering on 9 March 2026, after which the Diabetes Operating Unit stopped being a reportable segment in the fourth quarter of fiscal 2026.

Cardiovascular

The portfolio holds the Cardiac Rhythm and Heart Failure, Structural Heart and Aortic, and Coronary and Peripheral Vascular divisions, used by electrophysiologists, implanting cardiologists, heart failure specialists, cardiovascular and vascular surgeons and interventional cardiologists and radiologists. The Cardiac Rhythm and Heart Failure division makes products for diagnosing, treating and managing heart rhythm disorders and heart failure, including implantable devices, leads and delivery systems, products for atrial fibrillation and for reducing surgical site infections, and information systems for managing patients with those devices. Its pacemakers include the Azure family, which carries automatic wireless remote monitoring, and the leadless Micra transcatheter pacing system, which needs no subcutaneous pocket, alongside implantable cardioverter defibrillators. Structural Heart and Aortic covers therapies for heart valve disorders and aortic disease, with devices for repairing and replacing heart valves, perfusion systems, positioning and stabilisation systems for beating heart revascularisation surgery and surgical ablation products. Coronary and Peripheral Vascular covers coronary artery disease, peripheral vascular disease and venous disease, with coronary stents and delivery systems, balloon angioplasty catheters, guide catheters, guide wires, diagnostic catheters and accessories and peripheral drug coated balloons.

Neuroscience

The portfolio holds the Cranial and Spinal Technologies, Specialty Therapies and Neuromodulation divisions, used by spinal surgeons, neurosurgeons, neurologists, pain management specialists, anaesthesiologists, orthopaedic surgeons, urologists, interventional radiologists and ear, nose and throat specialists. Cranial and Spinal Technologies makes surgical technologies intended to improve the precision and workflow of neurological procedures along with medical devices and implants used in treatment. Specialty Therapies covers neurovascular, ear, nose and throat, and pelvic health, treating patients with acute ischaemic and haemorrhagic stroke, ear, nose and throat diseases, overactive bladder and non-obstructive urinary retention, including products for diseases of the vasculature in and around the brain.

Medical Surgical

The portfolio holds the Surgical and Endoscopy and Acute Care and Monitoring divisions, and its products are used mainly by healthcare systems, physicians' offices, ambulatory surgical centres and other alternate site providers, and occasionally in the home. Surgical and Endoscopy makes advanced and general surgical products, including advanced stapling devices, vessel sealing instruments, wound closure products, electrosurgery products and a surgical video and analytics platform using artificial intelligence. Acute Care and Monitoring works in patient monitoring and airway management, with Nellcor pulse oximetry and the RespArray monitor for blood oxygen management, Bispectral Index brain monitoring, INVOS oximetry and WarmTouch warming for reducing perioperative complications, and Microstream capnography monitors, McGRATH MAC video laryngoscopes, Shiley tubes and DAR breathing systems for airway management. The filing states that the all other businesses include the operations and ongoing transition agreements from businesses the company has exited, divested, or intends to separate, such as the Diabetes Business.

Selling, supply and people

Devices and therapies are sold through a mix of direct sales representatives and third parties such as independent distributors and agents, with part of what the company takes in coming from consignment inventory held at hospitals. Medical supply products go mainly to hospitals, surgical centres, physician offices and alternate care facilities, marketed to materials managers, group purchasing organisations and integrated delivery networks, with which the company often negotiates supply contracts covering member facilities. Sales and marketing teams are generally organised around physician specialties, which the company says builds knowledgeable representatives and the ability to cross-sell complementary products, with enterprise accounts where purchasing dynamics call for them. No single customer is more than 10 percent of total net sales. It competes in therapeutic and diagnostic medical markets in more than 150 countries, against large manufacturers with multiple lines and small makers with a limited selection, and against providers of other therapies such as pharmaceutical companies including makers of glucagon-like peptide-1 drugs. Manufacturing runs at facilities in various countries with components and raw materials bought from numerous suppliers, some sole source; supplies have generally been adequate, though regulatory requirements mean replacement sources cannot always be found quickly. The company has over 95,000 full-time employees, 43% of them in the United States or Puerto Rico.

From Medtronic's annual report on Form 10-K for the year ended 24 April 2026. The filing

Compare with another name What $10,000 in Medtronic became

Next results: 24 Nov 2026, announced by the company (its release). Earnings calendar

Latest results

Latest quarterQ1 FY2027ended 31 July 2026 · 10-Q filed 3 September 2026
Revenue
$9.8 billion
+13.7% on the year · -0.5% on the quarter
Q2 FY2025Q1 FY2027
Net income
$1.5 billion
+41.3% on the year · +18.2% on the quarter
Q2 FY2025Q1 FY2027
Diluted EPS
$1.14
+40.7% on the year · +18.7% on the quarter
Q2 FY2025Q1 FY2027

this quarterthe same quarter a year earlierHover a bar for its figure.

Read the Q1 FY2027 results →the 10-Q on EDGAR ↗
Last full yearFY2026ended 24 April 2026 · 10-K filed 18 June 2026
Revenue
$36.4 billion
+8.4% on the year
FY2019FY2026
Net income
$4.8 billion
+3.0% on the year
FY2019FY2026
Diluted EPS
$3.73
+3.3% on the year
FY2019FY2026

this yearthe year beforeHover a bar for its figure.

The years before, in wordsMedtronic (MDT) reported revenue of $36.4 billion for fiscal 2026, the year ended 24 April 2026, up 8.4% on the year before. Net income was $4.8 billion and diluted earnings per share $3.73. Revenue was $33.5 billion in fiscal 2025, $32.4 billion in fiscal 2024, $31.2 billion in fiscal 2023 and $31.7 billion in fiscal 2022. Net income in the same years was $4.7 billion, $3.7 billion, $3.8 billion and $5.0 billion. Over the twelve months to 31 July 2026, Medtronic reported revenue of $37.5 billion and net income of $5.2 billion. Revenue grew 3.8% a year, compounded, over the five years to fiscal 2026. Medtronic declared $2.85 a share in dividends over the last four quarters and had 1.28 billion shares outstanding at the latest filed count. At 31 July 2026 it carried $28.2 billion of debt and $1.7 billion of cash. At the close of 6 November 2026 the market cap of Medtronic was $130.3 billion, 25.1 times its earnings over the last twelve months.
Read the FY2026 results →the 10-K on EDGAR ↗

Ratios

From the filings

ROE10.4%
ROCE8.7%
Operating margin18.1%
Net margin13.9%
FCF margin16.3%
Interest cover9.4x
Debt to equity0.56x
Cash conversion1.54x
Share count, last 12 months-0.1%
Sales CAGR, 3 years5.2%
Profit CAGR, 3 years8.5%
EPS, TTM$4.06

At the close of 6 November 2026

Price$101.79
Market cap$130.3 billion
Stock P/E25.1x
Price to book2.6x
EV / EBITDA16.1x
Dividend yield2.8%
Market cap / sales3.5x
52-week high$105.35
52-week low$73.75
Price, 1 year13.0%
Price CAGR, 3 years12.0%
Price CAGR, 5 years-3.7%

29 ready-made ratios, from FCF yield to net debt to EBITDA, wait on the Formulas page, each with what it tells you. Browse and add them →

Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the borrowing lines of Medtronic plc's balance sheet, added together, finance leases inside them only where the company puts them there; operating leases are a separate line. Nothing here is a valuation or a view.
MDTgreeksoup.ai
Daily prices to 6 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

Quarterly results

Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026Q4 FY2026 *Q1 FY2027
Revenue7,8477,7638,0897,3717,5857,7278,5447,7027,9848,0898,5897,9158,4038,2928,9278,5788,9619,0179,8089,756
Cost of revenue2,4972,4592,5912,5162,5352,6892,9792,6282,7612,7823,0452,7612,9462,7793,1463,0013,0613,2613,3983,416
Gross profit5,3505,3045,4984,8555,0505,0385,5655,0745,2235,3075,5445,1545,4575,5135,7815,5775,9005,7566,4106,340
Gross margin68%68%68%66%67%65%65%66%65%66%65%65%65%66%65%65%66%64%65%65%
R&D676668652692676688640668698695674676697675684726754722671771
SG&A2,6152,5612,5692,5672,6172,6152,6162,6132,6862,6732,7642,6552,7572,7172,7202,8062,9652,9563,0573,198
Operating income1,5631,6591,6711,1251,4041,3921,5641,2681,3401,4831,0531,2781,5951,6461,4361,4451,6861,4641,8721,764
Operating margin20%21%21%15%19%18%18%16%17%18%12%16%19%20%16%17%19%16%19%18%
Interest expense136137143164118167187148180188203167209179174176181181177186
Pre-tax income1,4931,5891,6021,0441,3951,3751,5501,1961,3131,4728561,2681,5591,5401,2611,3021,5971,4041,8331,769
Tax rate12%7%7%11%69%11%23%33%31%9%23%17%18%15%16%20%13%18%31%16%
Net income1,3111,4801,4859294271,2221,1807919091,3226541,0421,2701,2941,0561,0401,3741,1431,2441,470
Net margin17%19%18%13%6%16%14%10%11%16%8%13%15%16%12%12%15%13%13%15%
Diluted EPS$0.97$1.10$1.10$0.70$0.32$0.92$0.88$0.59$0.68$0.99$0.49$0.80$0.99$1.01$0.82$0.81$1.07$0.89$0.96$1.14
Operating cash flow1,7692,2282,0571,0839221,5742,4608756612,4742,7779869582,5722,5281,0889252,7442,5731,793
Capital expenditure271330389426323332378354461346426520404476459504468444488503
Free cash flow1,4981,8981,6686575991,2422,0825212002,1282,3514665542,0962,0695844572,3002,0851,290
Buybacks4293941,40633614171.097.01522261321,6282,492288181274123372105435267
Dividends paid847847843903904904905918918917913898897897897910910911908921
Shares outstanding1,345m1,343m1,331m1,329m1,330m1,330m1,331m1,330m1,330m1,330m1,311m1,282m1,283m1,283m1,282m1,282m1,282m1,283m1,280m1,280m
Filing10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss)

FY2013FY2014FY2015FY2016 †FY2017 †FY2018 †FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026TTM
Revenue16,59017,00520,26128,83329,71029,95330,55728,91330,11731,68631,22732,36433,53736,36437,542
Cost of revenue4,1264,3336,3099,1429,2919,0559,1559,42410,48310,14510,71911,21611,63212,72113,136
Gross profit12,46412,67213,95219,69120,41920,89821,40219,48919,63421,54120,50821,14821,90523,64324,406
Gross margin75.1%74.5%68.9%68.3%68.7%69.8%70.0%67.4%65.2%68.0%65.7%65.3%65.3%65.0%65.0%
Research and development1,5571,4771,6402,2242,1932,2532,3302,3312,4932,7462,6962,7352,7322,8732,918
Selling, general and administrative5,6985,8476,9049,46910,01810,23810,41810,10910,14810,29210,41510,73610,84911,78412,176
Operating income4,4023,8133,7665,3615,3836,6516,2684,7914,4845,7525,4855,1445,9556,4676,786
Operating margin26.5%22.4%18.6%18.6%18.1%22.2%20.5%16.6%14.9%18.2%17.6%15.9%17.8%17.8%18.1%
Interest expense3883796661,3861,0941,1461,4441,092925553636719729715725
Pre-tax income4,2513,7053,4864,3364,6025,6755,1974,0553,8955,5175,3644,8375,6286,1366,603
Income tax7846408117985782,580547-7512654561,5801,1339361,2991,333
Effective tax rate18.4%17.3%23.3%18.4%12.6%45.5%10.5%-18.5%6.8%8.3%29.5%23.4%16.6%21.2%20.2%
Net income3,4673,0652,6753,5384,0283,1044,6314,7893,6065,0393,7583,6764,6624,8015,231
Net margin20.9%18.0%13.2%12.3%13.6%10.4%15.2%16.6%12.0%15.9%12.0%11.4%13.9%13.2%13.9%
Diluted EPS$3.37$3.02$2.41$2.48$2.89$2.27$3.41$3.54$2.66$3.73$2.82$2.76$3.61$3.73$4.06
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment FY2013 to FY2024

FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024Share
of the parts, latest year
Cardiovascularn/an/an/an/an/an/a11,50510,46810,77211,42311,57311,83136.6%
Neurosciencen/an/an/an/an/an/a8,1837,7258,1958,7848,9599,40629.1%
Medical Surgicaln/an/an/an/an/an/a8,4788,3528,7379,1418,4338,41726.0%
Diabetes1,5261,6571,7621,8641,9272,1402,3912,3682,4132,3382,2622,4887.7%
Other Operating Segmentsn/an/an/an/an/an/an/an/an/an/an/a2210.7%
Cardiac and Vascular Group8,6958,8479,36110,19610,49811,354n/an/an/an/an/an/an/a
Minimally Invasive Therapies Group002,3879,5639,9198,716n/an/an/an/an/an/an/a
Restorative Therapies Group6,3696,5016,7517,2107,3667,743n/an/an/an/an/an/an/a
Cardiovascular FY2019 to FY2024Neuroscience FY2019 to FY2024Medical Surgical FY2019 to FY2024DiabetesOther Operating Segments FY2024Cardiac and Vascular Group FY2013 to FY2018Restorative Therapies Group FY2013 to FY2018Minimally Invasive Therapies Group FY2015 to FY2018
17.0FY201428.8FY201630.0FY201828.9FY202031.7FY202232.4FY2024

$ billion; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Profit by segment FY2018 to FY2024

The operating profit each segment reports. Costs Medtronic does not charge to a segment are left out, so the segments can add up to more than the company's own operating profit.

FY2018FY2019FY2020FY2021FY2022FY2023FY2024Margin
FY2024
Cardiovascularn/a4,5323,7193,8504,5964,5224,47437.8%
Neurosciencen/a3,3192,9153,1623,8583,7123,94041.9%
Medical Surgicaln/a3,2623,0443,0213,6983,0483,17037.7%
Diabetes63473954659858838339415.8%
Other Operating Segmentsn/an/an/an/a-31n/a104.5%
Cardiac and Vascular Group4,461n/an/an/an/an/an/an/a
Minimally Invasive Therapies Group3,346n/an/an/an/an/an/an/a
Restorative Therapies Group3,058n/an/an/an/an/an/an/a
Cardiovascular FY2019 to FY2024Cardiac and Vascular Group FY2018Neuroscience FY2019 to FY2024Restorative Therapies Group FY2018Medical Surgical FY2019 to FY2024Minimally Invasive Therapies Group FY2018DiabetesOther Operating Segments FY2022 to FY2024
11.5FY201811.9FY201910.2FY202010.6FY202112.7FY202211.7FY202312.0FY2024

$ billion; the figure over a bar is all the segments together; a year a segment lost money, it hangs below the line. Hover a block for its profit, sales and margin.

FY2024Share of salesShare of profit
Cardiovascular37%37%
Neuroscience29%33%
Medical Surgical26%26%
Diabetes8%3%
Other Operating Segments1%under 1%

Each column adds to 100%. A segment with a bigger share of the profit than of the sales makes more on each dollar it sells.

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where every segment with sales that year has an operating profit figure. A margin is a segment's operating profit over its own sales.

Revenue by region FY2013 to FY2026, 4 years left out

FY2013FY2014FY2015FY2016FY2017FY2018FY2023FY2024FY2025FY2026Share
of the parts, latest year
Rest of worldn/an/an/a12,33212,97813,99314,75615,68916,25018,11849.8%
United Statesn/an/an/a16,42216,66315,87516,37316,56217,17118,10349.8%
Irelandn/an/an/a796985981131161430.4%
Americas9,7619,92212,125n/an/an/an/an/an/an/an/a
Asia Pacific1,8861,7762,059n/an/an/an/an/an/an/an/a
China7188241,013n/an/an/an/an/an/an/an/a
EMEA4,2254,4835,064n/an/an/an/an/an/an/an/a
Rest of world FY2016 to FY2026United States FY2016 to FY2026Ireland FY2016 to FY2026Americas FY2013 to FY2015EMEA FY2013 to FY2015Asia Pacific FY2013 to FY2015China FY2013 to FY2015
17.0FY201428.8FY201630.0FY201832.4FY202436.4FY2026

$ billion; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

First forecast against the result

Medtronic's adjusted EPS landed at or above the top of the range in 2, inside it in 2 and under it in 1 of the 5 years shown (FY2019 to FY2026).

+1.4%FY2019−6.4%FY2023+2.0%FY2024−0.2%FY2025−1.2%FY2026
  • At or above the top of the range
  • Inside the range
  • Under the range

Each bar is the year's result against the top of its first forecast range, in per cent of the top. Hover a bar for the figures.

Fiscal yearFirst forecast
adjusted EPS		Result
FY2019$5.10 to $5.15$5.22
FY2023$5.53 to $5.65$5.29
FY2024$5.00 to $5.10$5.20
FY2025$5.40 to $5.50$5.49
FY2026$5.50 to $5.60$5.53
FY2027 forecast
Adjusted EPS $5.90 to $6.00, given 3 June 2026. Its result comes with the fourth-quarter results for FY2027.
First forecast
The full-year range the company gave with its fourth-quarter results for the year before, before any later change to it.
Result
The figure the company reported for that year with its next fourth-quarter results.
Adjusted EPS
The company's own measure, which leaves out items it names, so it differs from the EPS in the tables above.
Years left out
Where the forecast or the result could not be read with confidence. Each figure in the table links to the results release it comes from.

Cash flow

FY2013FY2014FY2015FY2016 †FY2017 †FY2018 †FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026TTM
Operating cash flow4,9424,9594,9025,2186,8804,6847,0077,2346,2407,3466,0396,7877,0447,3308,035
Capital expenditure4573965711,0461,2541,0681,1341,2131,3551,3681,4591,5871,8591,9041,903
Free cash flow4,4854,5634,3314,1725,6263,6165,8736,0214,8855,9784,5805,2005,1855,4266,132
Free cash flow margin27.0%26.8%21.4%14.5%18.9%12.1%19.2%20.8%16.2%18.9%14.7%16.1%15.5%14.9%16.3%
Cash from investingn/a-3,594-17,0582,245-1,5715,858-774-3,203-2,866-1,659-3,493-2,366-1,937-2,934-3,834
Cash from financingn/a-91815,949-9,543-3,283-11,954-5,431-4,198-4,136-5,336-4,960-4,450-4,361-4,751-3,713
Depreciation and amortisation8198501,3062,8202,9172,6442,6592,6632,7022,7072,6972,6472,8612,9582,939
Share-based compensation152145439375348344290297344359355393429457496
Buybacks1,2472,5531,9202,8303,5442,1712,8771,3266522,5446452,1383,2351,0351,179
Dividends paid1,0551,1161,3372,1392,3762,4942,6932,8943,1203,3833,6163,6663,5893,6393,650
Dividend per share$1.04$1.12$1.22$1.52$1.72$1.84$2.00$2.16$2.32$2.52$2.72$2.76$2.80$2.84n/a
Diluted shares, weighted1,028m1,014m1,109m1,426m1,391m1,368m1,358m1,351m1,354m1,351m1,333m1,330m1,290m1,288m1,285m
Shares outstanding at period endn/a999m1,422m1,399m1,369m1,354m1,341m1,341m1,345m1,331m1,331m1,311m1,282m1,280m1,280m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet

FY2013FY2014FY2015FY2016 †FY2017 †FY2018 †FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026TTM
Funded by
Shareholders' equity18,67119,44353,23052,06350,29450,72050,09150,73751,42852,55151,48350,21448,02449,46350,232
Non-controlling interestn/an/an/a0.0122102121135174171182206232609618
Debtn/a10,31535,59030,93733,36825,75025,39024,91626,37824,11424,34425,02428,51627,96128,153
Operating lease liabilitiesn/an/an/an/an/an/an/a774829703869840918989n/a
Finance lease liabilitiesn/an/an/an/an/an/an/a45.062.056.057.055.052.054.052.0
Other liabilitiesn/a8,18517,86516,78216,03214,82114,09214,08214,21213,38614,01313,64213,93813,95214,251
Total liabilities and equityn/a37,943106,68599,78299,81691,39389,69490,68993,08390,98190,94889,98191,68093,02893,306
Owned
Fixed assets2,4902,3924,6994,8414,3614,6044,6754,8285,2215,4135,5696,1316,8377,4177,473
Goodwill10,32910,59340,53041,50038,51539,54339,95939,84141,96140,50241,42540,98641,73742,58743,187
Intangible assetsn/a2,28628,10126,89923,40721,72320,56019,06317,74015,59514,84413,22511,66710,14610,238
Investmentsn/a13,65915,3439,7588,7417,5585,4556,8087,2246,8596,4166,7216,7477,2717,128
Trading assetsn/an/a77.079.0n/an/an/an/an/an/an/an/an/an/an/a
Cash and equivalents9191,4034,8432,8764,9673,6694,3934,1403,5933,7141,5431,2842,2181,9491,691
Receivablesn/a3,8115,1125,5625,5915,9876,2224,6455,4625,5515,9986,1286,5156,6436,357
Inventoryn/a1,7253,4633,4733,3383,5793,7534,2294,3134,6165,2935,2175,4765,9516,215
Other assetsn/a2,0744,5174,79410,8964,7304,6777,1357,5698,7319,86010,28910,48311,06411,017
Total assetsn/a37,943106,68599,78299,81691,39389,69490,68993,08390,98190,94889,98191,68093,02893,306
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded2.3%3.8%5.2%9.8%
Profit growth, compounded3.1%5.9%8.5%12.3%
Return on equity, average8.3%8.7%8.9%9.7%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

When does Medtronic report its next earnings?

Medtronic has announced its next results for 24 Nov 2026.

What was Medtronic's revenue in fiscal 2026?

Medtronic (MDT) reported revenue of $36.4 billion for fiscal 2026, the year ended 24 April 2026, up 8.4% on the year before.

How much did Medtronic earn in fiscal 2026?

Net income was $4.8 billion for fiscal 2026, and diluted earnings per share $3.73.

What is Medtronic's P/E ratio?

At the close of 6 November 2026, Medtronic traded at 25.1 times its earnings over the twelve months to 31 July 2026.

What is Medtronic's market cap?

The market cap of Medtronic was $130.3 billion at the close of 6 November 2026.

Does Medtronic pay a dividend?

Yes. Medtronic declared $2.85 a share in dividends over the four quarters to 31 July 2026.

Peers: Medical Equipment

CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
Medtronic plc MDT$130.3 billion25.0710.4%18.1%9.8%0.562.8%
LivaNova plc LIVN$5.0 billion30.0114.3%10.7%11.7%0.22n/a
Integer Holdings Corp. ITGR$4.3 billion42.486.0%8.2%-0.3%0.71n/a
TransMedics Group, Inc. TMDX$3.1 billion23.8926.2%11.9%28.5%0.930.0%
Axogen, Inc. AXGN$3.0 billionn/a-6.4%-5.2%24.3%0.00n/a
Conmed Corp. CNMD$1.5 billion21.306.9%9.9%1.6%0.771.2%
Ceribell, Inc. CBLL$1.0 billionn/a-62.9%-69.8%31.3%0.17n/a
CapsoVision, Inc. CV$316 millionn/a-226.6%-217.1%n/a0.00n/a
Electromed, Inc. ELMD$226 million20.5820.9%18.8%15.3%0.00n/a
Edap TMS SA FOCL$158 millionn/a-104.3%-35.4%n/a0.99n/a
Stereotaxis, Inc. STXS$111 millionn/a-182.3%-75.7%-5.5%0.00n/a
Outset Medical, Inc. OM$79 millionn/a-85.4%-51.2%1.6%1.18n/a
All 110 in Medical Equipment
CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
Intuitive Surgical Inc. ISRG$156.9 billion54.7518.5%28.4%20.5%0.00n/a
Medtronic plc MDT$130.3 billion25.0710.4%18.1%9.8%0.562.8%
Stryker Corp. SYK$124.0 billion34.7015.4%20.7%7.9%0.641.1%
3M Co. MMM$95.7 billion27.6185.7%18.8%1.7%3.631.7%
Boston Scientific Corp. BSX$62.0 billion18.1113.7%18.7%8.9%0.47n/a
Edwards Lifesciences Corp. EW$58.8 billion57.679.4%21.6%13.4%0.06n/a
Becton Dickinson & Co. BDX$57.7 billion63.803.9%9.6%-2.6%0.692.0%
Medline Inc. MDLN$52.2 billion57.614.9%5.7%n/a1.07n/a
GE HealthCare Technologies Inc. GEHC$37.2 billion17.3818.5%13.3%6.9%0.860.2%
Resmed Inc. RMD$33.1 billion21.4226.8%33.0%9.0%0.071.0%
Dexcom Inc. DXCM$29.6 billion31.1439.1%24.0%13.0%0.49n/a
Koninklijke Philips N.V. PHG *$29.2 billion29.228.2%8.0%-1.0%0.741.3%
West Pharmaceutical Services Inc. WST$27.9 billion44.8721.5%23.0%12.6%0.070.2%
Steris plc STE$24.5 billion29.9311.4%19.0%8.1%0.261.0%
Zimmer Biomet Holdings, Inc. ZBH$20.0 billion26.736.0%13.6%7.0%0.590.9%
Solventum Corp. SOLV$15.4 billion101.513.2%5.6%-2.8%1.05n/a
Smith & Nephew plc SNN *$13.7 billion21.7611.8%12.9%6.1%0.592.4%
Baxter International Inc. BAX$13.3 billionn/a-11.1%-1.9%5.3%1.322.0%
Glaukos Corp. GKOS$13.3 billionn/a-23.7%-25.5%46.9%0.00n/a
Penumbra Inc. PEN$12.6 billion80.459.9%12.1%17.0%0.00n/a
Cooper Companies, Inc. COO$11.9 billion21.296.8%12.8%4.7%0.31n/a
Align Technology Inc. ALGN$11.7 billion24.1711.4%14.9%4.4%0.00n/a
Insulet Corp. PODD$10.2 billion23.8727.2%18.4%26.5%0.61n/a
Globus Medical Inc. GMED$9.5 billion17.4511.6%21.6%13.4%0.00n/a
Bausch & Lomb Corp. BLCO$7.1 billionn/a-1.7%7.1%8.9%0.79n/a
MSA Safety Inc. MSA$6.6 billion21.8621.1%20.2%8.1%0.781.3%
Teleflex Inc. TFX$6.0 billion18.338.7%9.4%20.9%0.460.9%
Haemonetics Corp. HAE$5.5 billion53.8311.6%12.8%4.1%1.26n/a
Merit Medical Systems Inc. MMSI$5.2 billion32.809.2%13.5%9.1%0.42n/a
LivaNova plc LIVN$5.0 billion30.0114.3%10.7%11.7%0.22n/a
MiniMed Group, Inc. MMED$4.7 billionn/an/an/an/a0.00n/a
Heartflow, Inc. HTFL$4.5 billionn/a-42.3%-37.8%n/a0.00n/a
Integer Holdings Corp. ITGR$4.3 billion42.486.0%8.2%-0.3%0.71n/a
ICU Medical Inc. ICUI$4.3 billion71.992.8%5.1%-5.9%0.53n/a
Envista Holdings Corp. NVST$4.0 billion6.5120.5%25.4%9.8%0.46n/a
Pulse Biosciences, Inc. PLSE$3.9 billionn/a-45.6%-5,821.1%1,637.2%0.00n/a
Warby Parker Inc. WRBY$3.2 billion424.581.9%0.2%9.9%0.00n/a
TransMedics Group, Inc. TMDX$3.1 billion23.8926.2%11.9%28.5%0.930.0%
iRhythm Holdings, Inc. IRTC$3.0 billionn/a-21.8%-5.7%21.6%3.68n/a
Axogen, Inc. AXGN$3.0 billionn/a-6.4%-5.2%24.3%0.00n/a
AtriCure, Inc. ATRC$3.0 billion195.032.8%2.9%13.8%0.11n/a
UFP Technologies Inc. UFPT$2.3 billion30.9015.8%15.5%8.6%0.20n/a
Establishment Labs Holdings Inc. ESTA$2.0 billionn/a-246.6%-6.6%38.3%17.17n/a
Dentsply Sirona Inc. XRAY$1.9 billionn/a-8.9%-1.5%-1.4%1.626.8%
Lemaitre Vascular Inc. LMAT$1.9 billion29.4214.7%27.7%11.8%0.391.2%
Inspire Medical Systems, Inc. INSP$1.8 billion18.5712.2%1.8%-0.2%0.00n/a
Kestra Medical Technologies, Ltd. KMTS$1.7 billionn/a-67.4%-134.5%60.7%0.33n/a
Butterfly Network, Inc. BFLY$1.7 billionn/a-29.1%-46.9%39.3%0.000.0%
Enovis Corp. ENOV$1.6 billionn/a-35.3%-20.6%3.3%0.84n/a
NovoCure Ltd. NVCR$1.6 billionn/a-34.7%-17.2%12.9%0.56n/a
Conmed Corp. CNMD$1.5 billion21.306.9%9.9%1.6%0.771.2%
National Vision Holdings, Inc. EYE$1.4 billion29.335.6%4.1%7.8%0.26n/a
Cadre Holdings, Inc. CDRE$1.4 billion34.4211.2%10.7%18.3%1.011.2%
Staar Surgical Co. STAA$1.3 billion1,815,851,369,755,783,936.000.1%0.2%42.4%0.00n/a
Procept BioRobotics Corp. PRCT$1.2 billionn/a-34.9%-33.6%17.5%0.16n/a
Tandem Diabetes Care Inc. TNDM$1.2 billionn/a-36.4%-2.4%6.8%4.47n/a
Alphatec Holdings, Inc. ATEC$1.2 billionn/an/a-3.6%15.3%n/an/a
Iradimed Corp. IRMD$1.1 billion46.1422.5%32.3%11.0%0.000.9%
Si-Bone, Inc. SIBN$1.1 billionn/a-7.4%-7.6%14.0%0.190.0%
Integra LifeSciences Holdings Corp. IART$1.0 billion78.971.2%4.4%0.8%1.71n/a
Ceribell, Inc. CBLL$1.0 billionn/a-62.9%-69.8%31.3%0.17n/a
Artivion, Inc. AORT$986 millionn/a-3.9%2.3%14.0%0.81n/a
Bioventus Inc. BVS$893 million13.2523.8%9.7%3.9%0.96n/a
Beta Bionics, Inc. BBNX$855 millionn/a-20.7%-72.7%43.7%0.00n/a
Orthopediatrics Corp. KIDS$828 millionn/a-10.0%-9.4%16.1%0.31n/a
Tactile Systems Technology Inc. TCMD$585 million25.2610.5%9.4%14.4%0.00n/a
Sight Sciences, Inc. SGHT$558 millionn/a-57.8%-29.5%16.2%0.83n/a
Anteris Technologies Global Corp. AVR$553 millionn/a-41.2%-4,738.4%-9.6%0.00n/a
Delcath Systems, Inc. DCTH$517 million1,494.000.4%-1.9%35.8%0.00n/a
Avita Medical, Inc. RCEL$513 millionn/an/a-33.9%17.0%n/an/a
Angiodynamics Inc. ANGO$497 millionn/a-20.1%-11.2%8.2%0.00n/a
Mimedx Group, Inc. MDXG$482 millionn/a-9.1%-8.3%-22.8%0.00n/a
SS Innovations International, Inc. SSII$430 millionn/a-23.3%-15.8%89.7%0.00n/a
NeuroPace Inc. NPCE$428 millionn/a-160.9%-15.3%11.6%4.970.0%
Shoulder Innovations, Inc. SI$426 millionn/a-28.2%-54.4%n/a0.13n/a
Cerus Corp. CERS$407 millionn/a-9.7%-1.0%n/a0.84n/a
Carlsmed, Inc. CARL$395 millionn/a-43.1%-61.1%n/a0.18n/a
Mobia Medical, Inc. MOBI$372 millionn/an/an/an/a0.05n/a
Embecta Corp. EMBC$350 million4.18n/a21.9%-7.6%n/a7.4%
Orchestra BioMed Holdings, Inc. OBIO$341 millionn/a-305.5%-181.4%986.1%1.80n/a
Orthofix Medical Inc. OFIX$320 millionn/a-14.4%-4.7%3.0%0.52n/a
CapsoVision, Inc. CV$316 millionn/a-226.6%-217.1%n/a0.00n/a
Cytosorbents Corp. CTSO$308 millionn/an/a-34.7%3.1%n/an/a
Sanara MedTech Inc. SMTI$291 millionn/a-403.0%n/a12.9%5.85n/a
ClearPoint Neuro, Inc. CLPT$276 millionn/a-132.5%-70.6%32.5%1.86n/a
InfuSystem Holdings, Inc. INFU$272 million33.3414.4%9.3%2.5%0.35n/a
Treace Medical Concepts, Inc. TMCI$265 millionn/a-90.5%-24.4%-7.1%0.91n/a
Profound Medical Corp. PROF$264 millionn/a-76.4%-145.1%65.3%0.11n/a
Orasure Technologies Inc. OSUR$238 millionn/a-15.5%-48.1%-18.9%0.00n/a
Utah Medical Products Inc. UTMD$231 million22.138.6%28.4%-7.0%0.00n/a
Electromed, Inc. ELMD$226 million20.5820.9%18.8%15.3%0.00n/a
PRO DEX Inc. PDEX$202 million17.3524.4%16.8%13.3%0.33n/a
TriSalus Life Sciences, Inc. TLSI$200 millionn/a-430.7%-67.7%25.2%5.05n/a
Anika Therapeutics, Inc. ANIK$195 millionn/a-1.3%-2.1%9.4%0.00n/a
RxSight, Inc. RXST$190 millionn/a-20.9%-50.4%-14.3%0.00n/a
Inogen Inc. INGN$161 millionn/a-14.1%-8.7%3.2%0.00n/a
Edap TMS SA FOCL$158 millionn/a-104.3%-35.4%n/a0.99n/a
Koru Medical Systems, Inc. KRMD$143 millionn/a-10.1%-3.7%22.4%0.00n/a
Apyx Medical Corp. APYX$124 millionn/a-87.6%-5.5%24.4%3.89n/a
Pulmonx Corp. LUNG$112 millionn/a-124.4%-44.4%-3.2%1.11n/a
Stereotaxis, Inc. STXS$111 millionn/a-182.3%-75.7%-5.5%0.00n/a
SkinHealth Systems Inc. SKIN$102 millionn/a-32.8%2.4%-4.4%4.36n/a
Lakeland Industries Inc. LAKE$88 millionn/a-21.4%-4.1%-0.4%0.23n/a
Outset Medical, Inc. OM$79 millionn/a-85.4%-51.2%1.6%1.18n/a
Neuraxis, Inc. NRXS$77 millionn/a-114.0%-144.5%65.2%0.01n/a
Lucid Diagnostics Inc. LUCD$76 millionn/a-478.3%-930.8%24.9%2.15n/a
Lensar, Inc. LNSR$66 millionn/a232.8%-13.5%3.3%0.25n/a
NutriBand Inc. NTRB$66 millionn/a-130.7%-435.6%-37.3%0.00n/a
RenovoRx, Inc. RNXT$55 millionn/a-140.2%-489.0%n/a0.00n/a
PAVmed Inc. PAVM$10 millionn/a-34.5%-23,841.1%-89.0%0.43n/a
12 companies share its SEC industry code (Electromedical & Electrotherapeutic Apparatus); the rest are the names nearest in size in its wider industry, Medical Equipment, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

The public record on MDT

Dividends$2.85 a share over the four quarters to 31 July 2026, a 2.80% yield
Filings20 in twelve months: 9 current reports (8-K), about 4 results of operations; 3 regulation FD disclosure; 2 officer or director change; 1 shareholder vote; 1 other events
Planned insider sales7 Form 144 notices in twelve months, $14.7 million; latest 15 October 2026
Options tapeput/call 0.69 by open interest at the 6 November 2026 close; the straddle prices a 3.4% move to 13 November 2026
13F holders2,145 funds reported a position for the quarter to 30 June 2026; largest BlackRock, Inc.
Insider trading18 sales and 0 purchases on Form 4 in twelve months
Congress4 House trades disclosed in six months
Short interest139.0 million shares short, 2.93 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Filings

FilingPeriodFiledWhere
10-Q31 July 20263 September 2026EDGAR
10-K24 April 202618 June 2026EDGAR
10-Q23 January 202624 February 2026EDGAR
10-Q24 October 202525 November 2025EDGAR
10-Q25 July 202526 August 2025EDGAR
10-K25 April 202520 June 2025EDGAR
10-Q24 January 202525 February 2025EDGAR
10-Q25 October 202426 November 2024EDGAR
10-Q26 July 202427 August 2024EDGAR
10-K26 April 202420 June 2024EDGAR

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