Medtronic (MDT) FY2024 results: revenue $32.4 billion, up 3.6% on the year
Medtronic plc (MDT) reported revenue of $32.4 billion for fiscal 2024, the year ended 26 April 2024, up 3.6% on the year before. Net income was $3.7 billion, down 2.2%, and diluted earnings per share $2.76. The figures are the company's own, from the 10-K it filed with the SEC on 20 June 2024.
Revenue
$32.4 billion
+3.6% on the year
FY2017FY2024
Operating margin
15.9%
17.6% a year earlier
FY2017FY2024
Net income
$3.7 billion
-2.2% on the year
FY2017FY2024
Diluted EPS
$2.76
-2.1% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
6,787
6,039
7,346
+12.4%
Capital expenditure
1,587
1,459
1,368
+8.8%
Free cash flow
5,200
4,580
5,978
+13.5%
Free cash flow margin
16.1%
14.7%
18.9%
Cash from investing
-2,366
-3,493
-1,659
Cash from financing
-4,450
-4,960
-5,336
Depreciation and amortisation
2,647
2,697
2,707
-1.9%
Share-based compensation
393
355
359
+10.7%
Buybacks
2,138
645
2,544
+231.5%
Dividends paid
3,666
3,616
3,383
+1.4%
Dividend per share
$2.76
$2.72
$2.52
+1.5%
Diluted shares, weighted
1,330m
1,333m
1,351m
-0.2%
Shares outstanding at period end
1,311m
1,331m
1,331m
-1.5%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
50,214
51,483
52,551
-2.5%
Non-controlling interest
206
182
171
+13.2%
Debt
25,024
24,344
24,114
+2.8%
Operating lease liabilities
840
869
703
-3.3%
Finance lease liabilities
55.0
57.0
56.0
-3.5%
Other liabilities
13,642
14,013
13,386
-2.6%
Total liabilities and equity
89,981
90,948
90,981
-1.1%
Fixed assets
6,131
5,569
5,413
+10.1%
Goodwill
40,986
41,425
40,502
-1.1%
Intangible assets
13,225
14,844
15,595
-10.9%
Investments
6,721
6,416
6,859
+4.8%
Cash and equivalents
1,284
1,543
3,714
-16.8%
Receivables
6,128
5,998
5,551
+2.2%
Inventory
5,217
5,293
4,616
-1.4%
Other assets
10,289
9,860
8,731
+4.4%
Total assets
89,981
90,948
90,981
-1.1%
10-K for the year ended 26 April 2024, filed 20 June 2024: the filing.