Abbott Laboratories vs Medtronic
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KIRA’s take AI analyst
I put Abbott Laboratories and Medtronic side by side, using each one’s latest annual report. Here is what stands out:
- Abbott Laboratories is the larger business, with $44.3B of revenue in fiscal 2025 against $36.4B for Medtronic.
- Medtronic grew revenue faster (8.4%, against 5.7%).
- Abbott Laboratories turned more of its sales into free cash flow (16.7% FCF margin, against 14.9%).
- Abbott Laboratories earned a higher return on the capital invested in it (11.2%, against 7.7%).
- Investors pay more for each dollar of Abbott Laboratories’s earnings: a P/E of 29.3x against 23.3x for Medtronic.
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
Abbott Laboratories
ABT
7/11
5-year growthOperating marginNet marginFCF marginReturn on capitalReturn on equityNet debt / EBITDA
Medtronic
MDT
4/11
Revenue growthGross marginPiotroski F-scoreShare count change
Side by side
Best in the row
| Latest fiscal year | ABT FY25 | MDT FY26 |
|---|---|---|
| Size | ||
| Market cap | $183.2B | $121.8B |
| Revenue | $44.3B | $36.4B |
| Free cash flow | $7.4B | $5.4B |
| Net income | $6.5B | $4.8B |
| Growth | ||
| Revenue growth | 5.7% | 8.4% |
| 5-year growth | 5.1% | 3.8% |
| Share count change | 0.0% | −0.1% |
| Profitability | ||
| Gross margin | 56.4% | 65.0% |
| Operating margin | 18.2% | 17.8% |
| Net margin | 14.7% | 13.2% |
| FCF margin | 16.7% | 14.9% |
| Return on capital | 11.2% | 7.7% |
| Return on equity | 13.1% | 9.9% |
| Balance sheet | ||
| Net debt | $4.0B | $17.0B |
| Net debt / EBITDA | 0.4x | 1.8x |
| Dividends and buybacks | $5.0B | $4.7B |
| Valuation & quality | ||
| P/E | 29.3x | 23.3x |
| Piotroski F-score | 6 | 7 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.