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Medtronic MDT

$89.11
−$0.19 (-0.21%)
Market open · Sep 24, 2:00 pm ET
After hours $89.32 +0.02%
Open$89.62
Prev close$89.30
Day range$88.82 – $90.28
Volume4.96M
Market cap$113.98B
P/E (TTM)21.9
Dividend yield3.20%

Fundamentals

Latest reported quarter: Q1, ended Jul 2026

Revenue$9.76B+13.7% YoY
Operating profit$1.84B+21.1% YoY
Net profit$1.48B+41.3% YoY
Diluted EPS$1.14+40.7% YoY
Free cash flow$1.29B+120.9% YoY
Operating cash flow$1.79B

Revenue, last 8 quarters

$8.4BOct '24$8.3BJan '25$8.9BApr '25$8.6BJul '25$9.0BOct '25$9.0BJan '26$9.8BApr '26$9.8BJul '26

Net profit, last 8 quarters

$1.3BOct '24$1.3BJan '25$1.1BApr '25$1.0BJul '25$1.4BOct '25$1.2BJan '26$1.3BApr '26$1.5BJul '26

Diluted EPS by quarter

0.99Oct '241.01Jan '250.82Apr '250.81Jul '251.07Oct '250.89Jan '260.96Apr '261.14Jul '26

Free cash flow by quarter

$554.0MOct '24$2.1BJan '25$2.1BApr '25$584.0MJul '25$457.0MOct '25$2.3BJan '26$2.1BApr '26$1.3BJul '26

Annual revenue

$30.1BFY21$31.7BFY22$31.2BFY23$32.4BFY24$33.5BFY25$36.4BFY26

Profitability & balance sheet

Gross margin65.0%
Operating margin19.0%
Net margin13.9%
Return on equity10.7%
Return on assets5.7%
Return on invested capital7.5%
Current ratio2.07
Liabilities / assets45.5%
Cash & investments$8.82B
Total debt$28.15B
Net cash (debt)-$19.33B
Free cash flow / sales16.3%

Where the revenue comes from

Quarter 2027/Q1

By business line

  • Cardiovascular$3.93B 40.3%
  • Neuroscience$2.68B 27.4%
  • Medical Surgical$2.28B 23.4%
  • Other Operating Segment$872.00M 8.9%

Income statement

Line item 2027 Q1 2026 ANNUAL 2026 Q4 2026 Q3 2026 Q2
Total Revenue as Reported $9.76B $36.36B $9.81B $9.02B $8.96B
Total Operating Revenue $9.76B $36.36B $9.81B $9.02B $8.96B
Cost of Revenue $3.42B $12.72B $3.40B $3.26B $3.06B
Gross Profit $6.34B $23.64B $6.41B $5.76B $5.90B
Operating Expense $4.50B $16.82B $4.40B $4.15B $4.20B
Selling and Admin Expenses $3.20B $11.78B $3.06B $2.96B $2.97B
Research & Development $771.00M $2.87B $671.00M $722.00M $754.00M
Depreciation & Amortization & Depletion $412.00M $1.77B $408.00M $441.00M $463.00M
-Depreciation & Amortization $412.00M $1.77B $408.00M $441.00M $463.00M
Other Operating Expenses $123.00M $386.00M $260.00M $35.00M $22.00M
Operating Profit $1.84B $6.83B $2.01B $1.60B $1.70B
Net Non-Operating Interest Income (Expense) -$186.00M -$715.00M -$176.00M -$181.00M -$181.00M
Non-Operating Interest Expense $186.00M $715.00M $176.00M $181.00M $181.00M
Other Income (Expense) $118.00M $22.00M -$5.00M -$18.00M $82.00M
Special Income (Charges) -$72.00M -$362.00M -$142.00M -$139.00M -$10.00M
-Less:Restructuring and Mergern & Acquisition $72.00M $249.00M $118.00M $77.00M $10.00M
Other Non-Operating Income (Expenses) $190.00M $384.00M $137.00M $121.00M $92.00M
Pretax Profit $1.77B $6.14B $1.83B $1.40B $1.60B
Tax $289.00M $1.30B $575.00M $254.00M $215.00M
Net Profit $1.48B $4.84B $1.26B $1.15B $1.38B
Profit from Continuing Operations $1.48B $4.84B $1.26B $1.15B $1.38B
Minority Interests $9.00M $37.00M $16.00M $6.00M $7.00M
Net Income to Parent Company $1.47B $4.80B $1.24B $1.14B $1.37B
Net Income to Common Stockholders $1.47B $4.80B $1.24B $1.14B $1.37B
Basic EPS $1.15 $3.75 $0.97 $0.89 $1.07
Diluted EPS $1.14 $3.73 $0.96 $0.89 $1.07
Dividend Per Share $0.72 $2.84 $0.71 $0.71 $0.71
-Less:Other Special Charges – $113.00M $24.00M $62.00M –

Balance sheet

Line item 2027 Q1 2026 ANNUAL 2026 Q4 2026 Q3 2026 Q2
Total Assets $93.31B $93.03B $93.03B $91.49B $91.35B
Total Current Assets $24.39B $24.79B $24.79B $24.07B $24.00B
Cash and Cash Equivalents & Short-Term Investments $8.82B $9.22B $9.22B $8.38B $8.33B
-Cash and Cash Equivalents $1.69B $1.95B $1.95B $1.15B $1.28B
-Short Term Investments $7.13B $7.27B $7.27B $7.24B $7.05B
Receivables $6.36B $6.64B $6.64B $6.36B $6.39B
-Accounts Receivable $6.36B $6.64B $6.64B $6.36B $6.39B
Inventory $6.22B $5.95B $5.95B $6.31B $6.16B
Other Current Assets $3.00B $2.97B $2.97B $3.02B $3.12B
Total Non-Current Assets $68.92B $68.24B $68.24B $67.41B $67.35B
Net PPE $7.47B $7.42B $7.42B $7.18B $7.16B
Non Current Accounts Receivables $3.70B $3.94B $3.94B $3.97B $3.86B
Goodwill and Other Intangible Assets $53.42B $52.73B $52.73B $52.23B $52.58B
-Goodwill $43.19B $42.59B $42.59B $41.89B $41.81B
-Other Intangible Assets $10.24B $10.15B $10.15B $10.34B $10.77B
Other Non-Current Assets $4.32B $4.15B $4.15B $4.04B $3.75B
Total Liabilities $42.46B $42.96B $42.96B $42.29B $42.49B
Total Current Liabilities $11.80B $11.66B $11.66B $9.50B $9.94B
Payables $3.75B $3.56B $3.56B $3.22B $3.23B
-Accounts Payable $2.70B $2.64B $2.64B $2.57B $2.58B
-Total Tax Payable $1.06B $914.00M $914.00M $650.00M $650.00M
Current Accrued Expenses $3.61B $3.63B $3.63B $3.50B $3.15B
Short-Term Debt and Capital Lease Obligation $2.54B $1.79B $1.79B $191.00M $1.42B
-Current Debt $2.54B $1.78B $1.78B $191.00M $1.42B
Total Non-Current Liabilities $30.66B $31.30B $31.30B $32.79B $32.55B
Long Term Accounts Payable and Other Payables $1.52B $1.52B $1.52B $1.59B $1.54B
Long Term Debt and Capital Lease Obligation $25.62B $26.17B $26.17B $27.88B $27.68B
-Long Term Debt $25.62B $26.12B $26.12B $27.82B $27.63B
-Long Term Capital Lease Obligation $0.00 $54.00M $54.00M $58.00M $55.00M
Non-Current Deferred Liabilities $349.00M $362.00M $362.00M $365.00M $386.00M
Employee Benefits $1.17B $1.19B $1.19B $1.19B $1.18B
Other Non-Current Liabilities $2.00B $2.06B $2.06B $1.77B $1.77B
Total Equity $50.85B $50.07B $50.07B $49.20B $48.86B
Stockholders' Equity $50.23B $49.46B $49.46B $48.99B $48.65B
Capital Stock $0.00 $0.00 $0.00 $0.00 $0.00
-Common Stock $0.00 $0.00 $0.00 $0.00 $0.00
Additional Paid-In Capital $20.81B $20.93B $20.93B $21.01B $20.86B
Retained Earnings $33.19B $32.64B $32.64B $32.30B $32.07B
Gains/Losses Not Affecting Retained Earnings -$3.76B -$4.10B -$4.10B -$4.33B -$4.28B
Other Equity Interests -$1.00M – – – –
Minority Interests $618.00M $609.00M $609.00M $211.00M $204.00M
-Gross PPE – $17.17B $17.17B – –
-Accumulated Depreciation – -$9.75B -$9.75B – –
-Current Capital Lease Obligation – $6.00M $6.00M – –
Other Current Liabilities – – – – $1.00M

Cash flow

Line item 2027 Q1 2026 ANNUAL 2026 Q4 2026 Q3 2026 Q2
Operating Cash Flow $1.79B $7.33B $2.57B $2.74B $925.00M
Net cash flow from continuing operations $1.79B $7.33B $2.57B $2.74B $925.00M
Net Income from Continuing Operations $1.48B $4.84B $1.26B $1.15B $1.38B
Depreciation & Depletion & Amortization $729.00M $2.96B $716.00M $749.00M $745.00M
Deferred Tax $127.00M $51.00M -$8.00M -$101.00M -$7.00M
Other Non-Cash Items -$27.00M $314.00M $33.00M $114.00M $8.00M
Change in Working Capital -$665.00M -$1.42B $444.00M $702.00M -$1.42B
-Change in Receivables $224.00M -$200.00M -$287.00M $13.00M -$214.00M
-Change in Inventory -$240.00M -$404.00M $399.00M -$131.00M -$299.00M
-Change in Payables and Accrued Expense -$531.00M $46.00M $123.00M $703.00M -$182.00M
-Change In Other Working Capital -$118.00M -$865.00M $209.00M $117.00M -$727.00M
Net cash flow from investing -$1.62B -$2.93B -$917.00M -$816.00M -$482.00M
Net Cash Flow from Continuing Investing Activities -$1.62B -$2.93B -$918.00M -$815.00M -$482.00M
Net PPE Purchase and Sale -$503.00M -$1.90B -$488.00M -$444.00M -$468.00M
Net Business Purchase and Sale -$1.16B -$406.00M -$406.00M – –
Net Investment Purchase and Sale $19.00M -$620.00M -$30.00M -$347.00M -$153.00M
Net Other Investing Changes $27.00M -$4.00M $7.00M -$25.00M $139.00M
Financing Cash Flow -$343.00M -$4.75B -$888.00M -$2.09B -$395.00M
Net Cash Flow from Continuing Financing Activities -$343.00M -$4.75B -$888.00M -$2.09B -$395.00M
Net Issuance Payments Of Debt $812.00M -$1.17B -$164.00M -$1.23B $732.00M
Net Common Stock Issuance -$247.00M $19.00M $200.00M $59.00M -$212.00M
Cash Dividends Paid -$921.00M -$3.64B -$908.00M -$911.00M -$910.00M
Net Other Financing Charges $13.00M $43.00M -$16.00M -$6.00M -$5.00M
Ending Cash Balance $1.69B $1.95B $1.95B $1.15B $1.28B
Net Change in Cash -$169.00M -$354.00M $769.00M -$159.00M $48.00M
Beginning Cash Balance $1.95B $2.22B $1.15B $1.28B $1.27B
Effect of Exchange Rate Changes -$89.00M $85.00M $33.00M $24.00M -$39.00M
Free Cash Flow $1.29B $5.43B $2.09B $2.30B $457.00M
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