Medtronic (MDT) FY2022 results: revenue $31.7 billion, up 5.2% on the year
Medtronic plc (MDT) reported revenue of $31.7 billion for fiscal 2022, the year ended 29 April 2022, up 5.2% on the year before. Net income was $5.0 billion, up 39.7%, and diluted earnings per share $3.73. The figures are the company's own, from the 10-K it filed with the SEC on 23 June 2022.
Revenue
$31.7 billion
+5.2% on the year
FY2015FY2022
Operating margin
18.2%
14.9% a year earlier
FY2015FY2022
Net income
$5.0 billion
+39.7% on the year
FY2015FY2022
Diluted EPS
$3.73
+40.2% on the year
FY2015FY2022
this yearthe year beforeHover a bar for its figure.
$ million except per share. 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.
Cash flow
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
7,346
6,240
7,234
+17.7%
Capital expenditure
1,368
1,355
1,213
+1.0%
Free cash flow
5,978
4,885
6,021
+22.4%
Free cash flow margin
18.9%
16.2%
20.8%
Cash from investing
-1,659
-2,866
-3,203
Cash from financing
-5,336
-4,136
-4,198
Depreciation and amortisation
2,707
2,702
2,663
+0.2%
Share-based compensation
359
344
297
+4.4%
Buybacks
2,544
652
1,326
+290.2%
Dividends paid
3,383
3,120
2,894
+8.4%
Dividend per share
$2.52
$2.32
$2.16
+8.6%
Diluted shares, weighted
1,351m
1,354m
1,351m
-0.2%
Shares outstanding at period end
1,331m
1,345m
1,341m
-1.1%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
52,551
51,428
50,737
+2.2%
Non-controlling interest
171
174
135
-1.7%
Debt
24,114
26,378
24,916
-8.6%
Operating lease liabilities
703
829
774
-15.2%
Finance lease liabilities
56.0
62.0
45.0
-9.7%
Other liabilities
13,386
14,212
14,082
-5.8%
Total liabilities and equity
90,981
93,083
90,689
-2.3%
Fixed assets
5,413
5,221
4,828
+3.7%
Goodwill
40,502
41,961
39,841
-3.5%
Intangible assets
15,595
17,740
19,063
-12.1%
Investments
6,859
7,224
6,808
-5.1%
Cash and equivalents
3,714
3,593
4,140
+3.4%
Receivables
5,551
5,462
4,645
+1.6%
Inventory
4,616
4,313
4,229
+7.0%
Other assets
8,731
7,569
7,135
+15.4%
Total assets
90,981
93,083
90,689
-2.3%
10-K for the year ended 29 April 2022, filed 23 June 2022: the filing.