Medtronic
MDT NYSE· Health Care Equipment
Last close · Oct 26, 2026
$94.79
KIRA · Stoqly’s AI analyst, in plain words
- Medtronic had $36.4B of revenue in fiscal 2026, up 8.4% on the year before. Over five years, revenue changed +3.8% a year on average.
- Its operating margin was 17.8%, up 0.0 pts: of every 100 in sales, about 18 is left after running the business.
- Medtronic made $4.8B of net profit in fiscal 2026. From fiscal 2017 to 2026, diluted EPS grew 2.9% a year.
- Free cash flow was $5.4B in fiscal 2026, 14.9% of revenue.
- Medtronic returned $4.7B to shareholders in fiscal 2026, 86% of free cash flow. The diluted share count fell 0.1%.
- Medtronic owes $17.0B more than it holds in cash, about 1.8 years of operating profit.
Market cap
$121.8B
P/E
23.3x
Revenue
$36.4B
Net income
$4.8B
Free cash flow
$5.4B
Operating margin
17.8%
Medtronic in 30 seconds · fiscal 2026
Are sales growing?
+8.4%
Yes. Sales grew 8.4% last year.
Does it make a profit?
13.2%
Yes. It keeps 13.2% of every sale as profit.
Does profit turn into cash?
14.9%
Yes. 14.9% of sales ends up as free cash.
Is debt under control?
1.8x
Keep an eye on it. Repaying its debt would take 1.8 years of operating profit.
How healthy are the accounts?
7 / 9
Solid. It passes 7 of 9 health tests.
How is the share priced?
23.3x
One share costs 23.3 times its yearly profit per share. Typical for its sector: 28.4x.
What Medtronic does
Medtronic, based in Galway, Ireland, makes medical devices and sells them to hospitals, physicians and other health care providers in more than 150 countries. Its products treat heart conditions, brain, spine and nerve conditions, and general surgical and acute care needs. It has three reportable segments. The Cardiovascular Portfolio includes pacemakers, heart rhythm and heart failure devices, treatments for atrial fibrillation, and devices for heart valves, the aorta and blood vessels. The Neuroscience Portfolio covers cranial and spinal products, specialty therapies and neuromodulation, used by spinal surgeons, neurosurgeons, pain specialists and others. The Medical Surgical Portfolio covers surgical and endoscopy products and acute care and monitoring products, used mainly by health systems, physician offices and surgery centers. In May 2025 Medtronic announced plans to separate its diabetes business.
Biggest risks, in its own words
- Competition in its industry, and the need to launch new technologies that stand out from rivals.
- Quality problems that lead to recalls, safety alerts or product liability claims.
- Manufacturing or supply interruptions that could limit the devices it can sell.
- Strict medical device rules and changes in how governments and insurers pay for care.
- Fiscal year ends
- April 24, 2026
- Latest annual report
- 10-K · Jun 18, 2026
- Legal name
- Medtronic plc
- CIK
- 0001613103
Medtronic · MDT
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $31.7B | $31.2B | $32.4B | $33.5B | $36.4B |
| Revenue growth | 5.2% | −1.5% | 3.6% | 3.6% | 8.4% |
| Gross margin | 68.0% | 65.7% | 65.3% | 65.3% | 65.0% |
| Operating margin | 18.2% | 17.6% | 15.9% | 17.8% | 17.8% |
| Net income | $5.0B | $3.8B | $3.7B | $4.7B | $4.8B |
| Net margin | 15.9% | 12.0% | 11.4% | 13.9% | 13.2% |
| Diluted EPS | $3.73 | $2.82 | $2.76 | $3.61 | $3.73 |
| Cash | |||||
| Cash from operations | $7.3B | $6.0B | $6.8B | $7.0B | $7.3B |
| Capital expenditure | $1.4B | $1.5B | $1.6B | $1.9B | $1.9B |
| Free cash flow | $6.0B | $4.6B | $5.2B | $5.2B | $5.4B |
| FCF margin | 18.9% | 14.7% | 16.1% | 15.5% | 14.9% |
| Dividends paid | $3.4B | $3.6B | $3.7B | $3.6B | $3.6B |
| Share buybacks | $2.5B | $645M | $2.1B | $3.2B | $1.0B |
| Share count change | −0.2% | −1.4% | −0.2% | −3.0% | −0.1% |
| Debt and strength | |||||
| Cash and short-term investments | $10.6B | $8.0B | $8.0B | $9.0B | $9.2B |
| Debt incl. finance leases | $20.4B | $24.3B | $25.0B | $25.6B | $26.2B |
| Shareholders' equity | $52.6B | $51.5B | $50.2B | $48.0B | $49.5B |
| Net debt / EBITDA | 1.2x | 2.0x | 2.2x | 1.9x | 1.8x |
| Current ratio | 1.9x | 2.4x | 2.0x | 1.9x | 2.1x |
| Interest coverage | 10.4x | 8.6x | 7.2x | 8.2x | 9.0x |
| Returns and quality | |||||
| Return on capital | — | 5.9% | 5.8% | 7.5% | 7.7% |
| Return on equity | 9.7% | 7.2% | 7.2% | 9.5% | 9.9% |
| Piotroski F-score | — | 6 | 5 | 6 | 7 |
| Altman Z'' | 3.7 | 3.8 | 3.6 | 3.5 | 3.8 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$14.7M
5 insiders
Of sales under plans
41%
$6.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Medtronic · MDT
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| Medtronic MDT | $121.8B | 8.4% | 17.8% | 14.9% | 7.7% | 23.3x | 7 |
| Abbott Laboratories ABT | $183.2B | 5.7% | 18.2% | 16.7% | 11.2% | 29.3x | 6 |
| Stryker SYK | $118.2B | 11.2% | 19.5% | 17.1% | 11.3% | 31.7x | 6 |
| Becton Dickinson BDX | $54.0B | 8.2% | 11.8% | 12.2% | 5.5% | 59.2x | 6 |
| GE HealthCare GEHC | $32.9B | 4.8% | 13.4% | 7.3% | 13.3% | 17.2x | 7 |
Price compared with profit (P/E)
How many times its yearly profit per share one share costs. Higher means investors pay more for each unit of profit.
KIRA
At $94.79 a share, the company is worth $121.8B: 23.3 times its earnings of the last four quarters.
Medtronic grew sales faster than 3 of its 4 similar companies. Its P/E is higher than 1 of 4.
Source: SEC EDGAR XBRL filings (CIK 0001613103). Data updated October 9, 2026. For information only — not investment advice. Check the original filings before relying on any figure.