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Financials · MDLN

Medline Inc. (MDLN) financials

For the twelve months ended Sep 26, 2026, Medline Inc. reported $30.68B of revenue and $683.00M of net income.

Revenue, TTM
$30.68B
Net income, TTM
$683.00M
Net margin
2.2%
Free cash flow, TTM
$1.90B
Cash
$2.32B
Total debt
$12.58B
P/E
76.33
P/S
1.70
Market cap
$52.13B
Annual revenue$28.43B
FY2023FY2025
Annual net income$1.16B
FY2023FY2025
Annual free cash flow$1.30B
FY2023FY2025

MDLN revenue and earnings growth

MDLN revenueQ3 2026$7.86B

Quarter YoY
+10.4%
QoQ
+2.2%
FY YoY
+11.5%

MDLN revenue was $7.86B in fiscal Q3 2026 (ended Sep 26, 2026), up 10.4% from a year earlier and up 2.2% from the prior quarter. For the full fiscal 2025 it was $28.43B, up 11.5% from fiscal 2024.

MDLN net incomeQ3 2026$198.00M

Quarter YoY
-37.7%
QoQ
+235.6%
FY YoY
-0.3%

MDLN net income was $198.00M in fiscal Q3 2026 (ended Sep 26, 2026), down 37.7% from a year earlier and up 235.6% from the prior quarter. For the full fiscal 2025 it was $1.16B, down 0.3% from fiscal 2024.

MDLN EPSQ3 2026$0.22

MDLN diluted EPS was $0.22 in fiscal Q3 2026 (ended Sep 26, 2026). For the full fiscal 2025 it was -$0.01.

MDLN free cash flowQ3 2026$884.00M

Quarter YoY
+65.2%
QoQ
+46.4%
FY YoY
-8.3%

MDLN free cash flow was $884.00M in fiscal Q3 2026 (ended Sep 26, 2026), up 65.2% from a year earlier and up 46.4% from the prior quarter. For the full fiscal 2025 it was $1.30B, down 8.3% from fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
Revenue$28.43B$25.51B$23.23B
Cost of revenue$20.91B$18.53B$17.35B
Gross profit$7.52B$6.98B$5.88B
Research and development$80.00M$67.00M$60.00M
Selling, general and admin$4.52B$4.11B$3.87B
Operating income$2.21B$2.15B$1.25B
Interest expense$945.00M$1.14B$1.21B
Pre-tax income$1.25B$1.25B$264.00M
Income tax$91.00M$46.00M$30.00M
Net income$1.16B$1.16B$234.00M
EPS, basic-$0.01--
EPS, diluted-$0.01--
Diluted shares810.0M--

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
Cash and equivalents$1.94B$250.00M$1.58B
Short-term investments$0--
Receivables$3.53B$3.22B-
Inventory$4.77B$4.46B-
Current assets$10.68B$8.27B-
Goodwill$8.08B$8.06B$7.53B
Total assets$38.48B$35.98B-
Current liabilities$2.49B$2.44B-
Short-term debt$77.00M$78.00M-
Long-term debt$12.48B$16.42B-
Total debt$12.56B$16.49B-
Total liabilities$19.20B$19.45B-
Shareholders' equity$10.74B--

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
Operating cash flow$1.74B$1.77B$1.69B
Capital expenditures$447.00M$354.00M$275.00M
Free cash flow$1.30B$1.42B$1.41B
Investing cash flow-$474.00M-$1.49B-$312.00M
Financing cash flow$399.00M-$1.61B-$191.00M
Share repurchases$33.00M$20.00M$0
Stock-based compensation$76.00M$61.00M$78.00M
Depreciation and amortization$1.01B$977.00M$951.00M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
Revenue growth, YoY11.5%9.8%-
Net income growth, YoY-0.3%397.0%-
Gross margin26.4%27.3%25.3%
Operating margin7.8%8.4%5.4%
Net margin4.1%4.6%1.0%
Free cash flow margin4.6%5.5%6.1%
Return on equity10.8%--
Return on assets3.0%3.2%-
Current ratio4.293.39-
Debt to equity1.17--

Source: XBRL data Medline Inc. files with the SEC, latest filing dated Nov 4, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

MDLN peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
MDLN$30.68B-$683.00M2.2%$52.13B
SYK$26.30B+7.9%$3.62B13.8%$124.05B
MMM$25.25B+1.7%$3.54B14.0%$95.67B
BSX$21.07B+8.9%$3.50B16.6%$61.96B
BDX$23.25B+17.4%$941.00M4.0%$57.71B
RMD$5.73B+9.0%$1.59B27.8%$33.10B
DXCM$5.10B+13.0%$991.00M19.4%$29.62B
WST$3.40B+12.6%$638.90M18.8%$27.85B
SOLV$8.16B-2.8%$156.00M1.9%$15.38B

MDLN FAQ

8 questions
  • What is MDLN revenue?
    Medline Inc. (MDLN) reported $30.68B of revenue for the twelve months ended Sep 26, 2026. Revenue for fiscal 2025 was $28.43B.
  • Is MDLN profitable?
    Yes. Medline Inc. earned $683.00M in net income for the twelve months ended Sep 26, 2026, a net margin of 2.2%.
  • How much cash and debt does MDLN have?
    Medline Inc. reported $2.32B in cash and cash equivalents and $12.58B of debt on its most recent balance sheet in SEC filings.
  • How fast is MDLN revenue growing?
    Medline Inc.'s revenue changed +11.5% in fiscal 2025, to $28.43B.
  • What is MDLN gross margin?
    Medline Inc.'s gross profit was $7.89B on $30.68B of revenue for the twelve months ended Sep 26, 2026, a gross margin of 25.7%.
  • What is MDLN free cash flow?
    Medline Inc. generated $1.90B of free cash flow for the twelve months ended Sep 26, 2026, which is operating cash flow of $2.38B less capital expenditures.
  • When did MDLN last report financial results?
    The latest statements here come from Medline Inc.'s 10-Q filed on Nov 4, 2026, covering the period ended Sep 26, 2026.
  • Where does this MDLN financial data come from?
    Quantisnow builds these statements from the structured XBRL data Medline Inc. files with the SEC. It is provided for information only and is not investment advice.