NYSE · Financial Statements

Medtronic plc (MDT) Financial Statements

$95.41 NYSE: MDT Market Cap $122.05B

Medtronic plc most recently reported annual revenue of $36.4B, net profit of $4.8B. Revenue grew at an average annual rate of 3.8% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Medtronic plc: Revenue rose from $29.7B in 2017 to $36.4B in 2026, a change of +22.4% over 9 years; net profit was positive in 10 of 11 reported years; operating margin was broadly flat at about 17.8%; the most recent year shows net profit of $4.8B.

Income Statement — 11 Years (USD millions)

Metric20162017201820192020202120222023202420252026
Revenue—$29.7B$30.0B$30.6B$28.9B$30.1B$31.7B$31.2B$32.4B$33.5B$36.4B
Operating Expenses—$24.3B$23.3B$24.3B$24.1B$25.6B$25.9B$25.7B$27.2B$27.6B$29.9B
Operating Profit—$5.4B$6.6B$6.3B$4.8B$4.5B$5.8B$5.5B$5.1B$6.0B$6.5B
Operating Margin0.0%18.1%22.2%20.5%16.6%14.9%18.1%17.6%15.9%17.8%17.8%
Other Income—$-781.0M$-965.0M$-1.1B$-736.0M$-589.0M$-235.0M$-121.0M$-307.0M$-327.0M$-331.0M
Interest$0$1.1B$1.1B$1.4B$1.1B$925.0M$553.0M$636.0M$719.0M$729.0M$715.0M
Depreciation—$2.9B$2.6B$2.7B$2.7B$2.7B$2.7B$2.7B$2.6B$2.9B$3.0B
Profit Before Tax—$4.6B$5.7B$5.2B$4.1B$3.9B$5.5B$5.4B$4.8B$5.6B$6.1B
Tax—$12.6M$45.5M$10.5M$-18.5M$6.8M$8.3M$29.5M$23.4M$16.6M$21.2M
Net Profit—$4.0B$3.1B$4.6B$4.8B$3.6B$5.0B$3.8B$3.7B$4.7B$4.8B
EPS$0.00$2.89$2.27$3.41$3.54$2.66$3.73$2.82$2.76$3.61$3.73
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricJun '23Sep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26
Revenue$7.7B$8.0B$8.1B$8.6B$7.9B$8.4B$8.3B$8.9B$8.6B$9.0B$9.0B$9.8B
Operating Expenses$6.4B$6.6B$6.6B$7.5B$6.6B$6.8B$6.6B$7.5B$7.1B$7.3B$7.2B$8.2B
Operating Profit$1.3B$1.3B$1.5B$1.1B$1.3B$1.6B$1.6B$1.4B$1.4B$1.7B$1.8B$1.6B
Operating Margin16.5%16.8%18.3%12.3%16.1%19.0%19.9%16.1%16.9%18.8%19.7%15.9%
Interest$148.0M$180.0M$188.0M$202.0M$167.0M$209.0M$179.0M$174.0M$176.0M$181.0M$181.0M$177.0M
Profit Before Tax$1.2B$1.3B$1.5B$856.0M$1.3B$1.6B$1.5B$1.3B$1.3B$1.6B$1.4B$1.8B
Tax$33.4M$30.6M$9.2M$23.0M$17.4M$18.0M$15.4M$15.8M$19.6M$13.5M$18.1M$31.4M
Net Profit$791.0M$909.0M$1.3B$654.0M$1.0B$1.3B$1.3B$1.1B$1.0B$1.4B$1.1B$1.2B
EPS$0.59$0.68$0.99$0.49$0.80$0.99$1.01$0.82$0.81$1.07$0.89$0.96

Over the 11 years reported for Medtronic plc, borrowings decreased from $31.0B in 2016 to $0 in 2026, cash stood at $2.2B in the latest year, shareholders' equity was $0.

Balance Sheet — 11 Years (USD millions)

Metric20162017201820192020202120222023202420252026
Total Assets$99.5B$99.8B$91.4B$89.7B$90.7B$93.1B$91.0B$90.9B$90.0B$91.7B—
Current Assets$23.6B$24.9B$23.0B$22.0B$22.0B$22.5B$23.1B$21.7B$21.9B$23.8B—
Cash$2.9B$5.0B$3.7B$4.4B$4.1B$3.6B$3.7B$1.5B$1.3B$2.2B—
Inventory$3.5B$3.3B$3.6B$3.8B$4.2B$4.3B$4.6B$5.3B$5.2B$5.5B—
Receivables$5.6B$5.6B$6.0B$6.2B$4.6B$5.5B$5.6B$6.0B$6.1B$6.5B—
Fixed Assets$4.8B$4.4B$4.6B$4.7B$4.8B$5.2B$5.4B$5.6B$6.1B$6.8B—
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0$0
Investments$9.8B$8.7B$7.6B$5.5B$6.8B$7.2B$6.9B$6.4B$6.7B$6.7B$0
Other Assets$41.3B$38.5B$39.5B$40.0B$39.8B$42.0B$40.5B$41.4B$41.0B$41.7B—
Total Liabilities$47.7B$49.4B$40.6B$39.5B$39.8B$41.5B$38.3B$39.3B$39.6B$43.4B—
Current Liabilities$7.2B$14.3B$10.1B$8.5B$10.4B$8.5B$12.4B$9.1B$10.8B$12.9B—
Borrowings$31.0B$33.4B$25.8B$25.3B$24.8B$26.4B$24.1B$24.4B$25.0B$28.5B$0
Other Liabilities$16.7B$16.0B$14.8B$14.2B$15.0B$15.1B$14.1B$14.9B$14.5B$14.9B—
Equity$0$0$0$0$0$0$0$0$0$0—
Reserves$51.8B$50.3B$50.7B$50.1B$50.7B$51.4B$52.6B$51.5B$50.2B$48.0B—

For Medtronic plc, operating cash flow was positive in 10 of 11 reported years; free cash flow in the latest year was $5.4B; free cash flow was positive in 10 of 11 years; financing activities used $453.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 11 Years (USD millions)

Metric20162017201820192020202120222023202420252026
Operating Cash Flow—$6.9B$4.7B$7.0B$7.2B$6.2B$7.3B$6.0B$6.8B$7.0B$7.3B
Investing Cash Flow—$-2.8B$4.8B$-1.9B$-4.4B$-4.2B$-3.0B$-5.0B$-4.0B$-3.8B$-4.8B
Financing Cash Flow—$-3.5B$-2.3B$-2.9B$-745.0M$-446.0M$-2.4B$-746.0M$-2.1B$-3.4B$-453.0M
Net Cash Flow—$2.1B$-1.3B$724.0M$-253.0M$-547.0M$121.0M$-2.2B$-259.0M$934.0M$-269.0M
Free Cash Flow$0$5.6B$3.6B$5.9B$6.0B$4.9B$6.0B$4.6B$5.2B$5.2B$5.4B

Valuation & Return Ratios

MetricValue
PEG Ratio1.71
EV / EBITDA14.81
FCF Yield5.40%
Quick Ratio2.09
Interest Coverage9.36
Return 1Y4.63%
Return 3Y46.28%
Return 5Y-8.68%

Medtronic plc (MDT) financials — frequently asked questions

What is Medtronic plc's annual revenue?

Medtronic plc (MDT) reported annual revenue of $36.4B in its most recent fiscal year.

What is Medtronic plc's net profit?

Medtronic plc (MDT) reported net profit of $4.8B in its most recent fiscal year.

What is MDT EV/EBITDA?

Medtronic plc's enterprise value to EBITDA (EV/EBITDA) ratio is 14.81.

Popular Stocks

Apple (AAPL)Microsoft (MSFT)NVIDIA (NVDA)Alphabet (GOOGL)Amazon (AMZN)Meta (META)Tesla (TSLA)Broadcom (AVGO)Eli Lilly (LLY)JPMorgan (JPM)

Related stock screens

High ROE Healthcare StocksLow P/E Healthcare StocksHigh Net Margin Healthcare StocksDividend Healthcare StocksLow Debt Healthcare StocksHigh ROE StocksLow P/E StocksHigh Net Margin StocksDividend StocksLow Debt StocksNYSE High ROE StocksAll stock screens
MDT Overview MDT Dividend Run Stock Screener

Data for information only, not investment advice. Figures may be delayed or inaccurate; verify against company filings. See our disclaimer.