Financials · MDT

Medtronic plc. (MDT) financials

For the twelve months ended Jul 31, 2026, Medtronic plc. reported $37.54B of revenue and $5.24B of net income.

Revenue, TTM
$37.54B
Revenue growth, YoY
+9.8%
Net income, TTM
$5.24B
Net income growth, YoY
+12.2%
Net margin
14.0%
Free cash flow, TTM
$6.13B
EPS, diluted, TTM
$4.06
EPS growth, YoY
+12.2%
Cash
$1.69B
Total debt
$28.15B
P/E
24.86
P/S
3.47
Market cap
$130.22B
Annual revenue$36.36B
FY2017FY2026
Annual net income$4.80B
FY2017FY2026
Annual free cash flow$5.43B
FY2017FY2026

MDT revenue and earnings growth

MDT revenueQ1 2027$9.76B

Quarter YoY
+13.7%
QoQ
-0.5%
FY YoY
+8.4%
5Y CAGR
+3.8%
10Y CAGR
+2.3%

MDT revenue was $9.76B in fiscal Q1 2027 (ended Jul 31, 2026), up 13.7% from a year earlier and down 0.5% from the prior quarter. For the full fiscal 2026 it was $36.36B, up 8.4% from fiscal 2025. Compound annual growth was +3.8% over 5 years and +2.3% over 10 years. It rose in 8 of the last 10 fiscal years. Fiscal 2026 is the highest of the 14 fiscal years on file.

MDT net incomeQ1 2027$1.47B

Quarter YoY
+41.3%
QoQ
+18.2%
FY YoY
+3.0%
5Y CAGR
+5.9%
10Y CAGR
+3.1%

MDT net income was $1.47B in fiscal Q1 2027 (ended Jul 31, 2026), up 41.3% from a year earlier and up 18.2% from the prior quarter. For the full fiscal 2026 it was $4.80B, up 3.0% from fiscal 2025. Compound annual growth was +5.9% over 5 years and +3.1% over 10 years. It rose in 6 of the last 10 fiscal years.

MDT EPSQ1 2027$1.14

Quarter YoY
+40.7%
QoQ
+18.8%
FY YoY
+3.3%
5Y CAGR
+7.0%
10Y CAGR
+4.2%

MDT diluted EPS was $1.14 in fiscal Q1 2027 (ended Jul 31, 2026), up 40.7% from a year earlier and up 18.8% from the prior quarter. For the full fiscal 2026 it was $3.73, up 3.3% from fiscal 2025. Compound annual growth was +7.0% over 5 years and +4.2% over 10 years.

MDT free cash flowQ1 2027$1.29B

Quarter YoY
+120.9%
QoQ
-38.1%
FY YoY
+4.6%
5Y CAGR
+2.1%
10Y CAGR
+2.7%

MDT free cash flow was $1.29B in fiscal Q1 2027 (ended Jul 31, 2026), up 120.9% from a year earlier and down 38.1% from the prior quarter. For the full fiscal 2026 it was $5.43B, up 4.6% from fiscal 2025. Compound annual growth was +2.1% over 5 years and +2.7% over 10 years. It rose in 6 of the last 10 fiscal years.

Export CSV

Income statement

Income statement
Line item
Apr 24, 2026
Apr 25, 2025
Apr 26, 2024
Apr 28, 2023
Apr 29, 2022
Apr 30, 2021
Apr 24, 2020
Apr 26, 2019
Apr 27, 2018
Apr 28, 2017
Revenue$36.36B$33.54B$32.36B$31.23B$31.69B$30.12B$28.91B$30.56B$29.95B$29.71B
Cost of revenue$12.72B$11.63B$11.22B$10.72B$10.14B$10.48B$9.42B$9.15B$9.07B$9.29B
Gross profit$23.64B$21.91B$21.15B$20.51B$21.54B$19.63B$19.49B$21.40B$20.90B$20.42B
Research and development$2.87B$2.73B$2.73B$2.70B$2.75B$2.49B$2.33B$2.33B$2.26B$2.19B
Selling, general and admin$11.78B$10.85B$10.74B$10.41B$10.29B$10.15B$10.11B$10.42B$10.24B$10.02B
Operating income$6.47B$5.96B$5.14B$5.49B$5.75B$4.48B$4.79B$6.27B$6.64B$5.38B
Interest expense$715.00M$729.00M$719.00M$636.00M$553.00M$925.00M$1.09B$1.44B$1.15B$1.09B
Pre-tax income$6.14B$5.63B$4.84B$5.36B$5.52B$3.90B$4.05B$5.20B$5.67B$4.60B
Income tax$1.30B$936.00M$1.13B$1.58B$456.00M$265.00M-$751.00M$547.00M$2.58B$578.00M
Net income$4.80B$4.66B$3.68B$3.76B$5.04B$3.61B$4.79B$4.63B$3.10B$4.03B
EPS, basic$3.75$3.63$2.77$2.83$3.75$2.68$3.57$3.44$2.29$2.92
EPS, diluted$3.73$3.61$2.76$2.82$3.73$2.66$3.54$3.41$2.27$2.89
Diluted shares1.29B1.29B1.33B1.33B1.35B1.35B1.35B1.36B1.37B1.39B

Balance sheet

Balance sheet
Line item
Apr 24, 2026
Apr 25, 2025
Apr 26, 2024
Apr 28, 2023
Apr 29, 2022
Apr 30, 2021
Apr 24, 2020
Apr 26, 2019
Apr 27, 2018
Apr 28, 2017
Cash and equivalents$1.95B$2.22B$1.28B$1.54B$3.71B$3.59B$4.14B$4.39B$3.67B$4.97B
Short-term investments$7.27B$6.75B$6.72B$6.42B$6.86B$7.22B$6.81B$5.46B$7.56B$8.74B
Receivables$6.64B$6.51B$6.13B$6.00B$5.55B$5.46B$4.64B$6.22B$5.99B$5.59B
Inventory$5.95B$5.48B$5.22B$5.29B$4.62B$4.31B$4.23B$3.75B$3.58B$3.34B
Current assets$24.79B$23.81B$21.93B$21.68B$23.06B$22.55B$22.03B$21.97B$22.98B$24.87B
Goodwill$42.59B$41.74B$40.99B$41.42B$40.50B$41.96B$39.84B$39.96B$39.54B$38.52B
Total assets$93.03B$91.68B$89.98B$90.95B$90.98B$93.08B$90.69B$89.69B$91.39B$99.86B
Current liabilities$11.66B$12.88B$10.79B$9.05B$12.39B$8.51B$10.37B$8.47B$10.08B$14.26B
Short-term debt$1.79B$2.87B$1.09B$20.00M$3.74B$11.00M$2.78B$838.00M$2.06B$7.52B
Long-term debt$26.17B$25.64B$23.93B$24.34B$20.37B$26.38B$22.02B$24.49B$23.70B$25.92B
Total debt$27.96B$28.52B$25.02B$24.36B$24.11B$26.39B$24.80B$25.32B$25.76B$33.44B
Total liabilities$42.96B$43.42B$39.56B$39.28B$38.26B$41.48B$39.82B$39.48B$40.57B$49.53B
Shareholders' equity$49.46B$48.26B$50.42B$51.66B$52.72B$51.60B$50.87B$50.21B$50.82B$50.33B

Cash flow

Cash flow
Line item
Apr 24, 2026
Apr 25, 2025
Apr 26, 2024
Apr 28, 2023
Apr 29, 2022
Apr 30, 2021
Apr 24, 2020
Apr 26, 2019
Apr 27, 2018
Apr 28, 2017
Operating cash flow$7.33B$7.04B$6.79B$6.04B$7.35B$6.24B$7.23B$7.01B$4.68B$6.88B
Capital expenditures$1.90B$1.86B$1.59B$1.46B$1.37B$1.35B$1.21B$1.13B$1.07B$1.25B
Free cash flow$5.43B$5.18B$5.20B$4.58B$5.98B$4.88B$6.02B$5.87B$3.62B$5.63B
Investing cash flow-$2.93B-$1.94B-$2.37B-$3.49B-$1.66B-$2.87B-$3.20B-$774.00M$5.86B-$1.57B
Financing cash flow-$4.75B-$4.36B-$4.45B-$4.96B-$5.34B-$4.14B-$4.20B-$5.43B-$11.95B-$3.28B
Dividends paid$3.64B$3.59B$3.67B$3.62B$3.38B$3.12B$2.89B$2.69B$2.49B$2.38B
Share repurchases$1.03B$3.23B$2.14B$645.00M$2.54B$652.00M$1.33B$2.88B$2.17B$3.54B
Stock-based compensation$457.00M$429.00M$393.00M$355.00M$359.00M$344.00M$297.00M$290.00M$344.00M$348.00M
Depreciation and amortization$2.96B$2.86B$2.65B$2.70B$2.71B$2.70B$2.66B$2.66B$2.64B$2.92B

Key ratios

Key ratios
Line item
Apr 24, 2026
Apr 25, 2025
Apr 26, 2024
Apr 28, 2023
Apr 29, 2022
Apr 30, 2021
Apr 24, 2020
Apr 26, 2019
Apr 27, 2018
Apr 28, 2017
Revenue growth, YoY8.4%3.6%3.6%-1.4%5.2%4.2%-5.4%2.0%0.8%3.0%
Net income growth, YoY3.0%26.8%-2.2%-25.4%39.7%-24.7%3.4%49.2%-22.9%13.8%
EPS growth, YoY3.3%30.8%-2.1%-24.4%40.2%-24.9%3.8%50.2%-21.5%16.5%
Gross margin65.0%65.3%65.3%65.7%68.0%65.2%67.4%70.0%69.8%68.7%
Operating margin17.8%17.8%15.9%17.6%18.2%14.9%16.6%20.5%22.2%18.1%
Net margin13.2%13.9%11.4%12.0%15.9%12.0%16.6%15.2%10.4%13.6%
Free cash flow margin14.9%15.5%16.1%14.7%18.9%16.2%20.8%19.2%12.1%18.9%
Return on equity9.7%9.7%7.3%7.3%9.6%7.0%9.4%9.2%6.1%8.0%
Return on assets5.2%5.1%4.1%4.1%5.5%3.9%5.3%5.2%3.4%4.0%
Current ratio2.131.852.032.391.862.652.132.592.281.74
Debt to equity0.570.590.500.470.460.510.490.500.510.66

Source: XBRL data Medtronic plc. files with the SEC, latest filing dated Sep 3, 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.

MDT peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
MDT$37.54B+9.8%$5.24B14.0%$130.22B
LIVN$1.51B+11.7%$196.06M13.0%$4.96B
ITGR$1.83B-0.3%$103.70M5.7%$4.30B
TMDX$727.65M+28.5%$144.45M19.9%$3.06B
AXGN$266.93M+24.3%-$31.92M-12.0%$2.99B
CNMD$1.37B+1.6%$73.43M5.4%$1.53B
CBLL$108.72M+31.3%-$73.88M-68.0%$1.03B
INMD$370.50M-6.2%$93.83M25.3%$765.9M
CV$13.89M+11.0%-$29.83M-214.7%$335.9M

MDT FAQ

9 questions
  • What is MDT revenue?
    Medtronic plc. (MDT) reported $37.54B of revenue for the twelve months ended Jul 31, 2026. That is up 9.8% from the year before. Revenue for fiscal 2026 was $36.36B.
  • Is MDT profitable?
    Yes. Medtronic plc. earned $5.24B in net income for the twelve months ended Jul 31, 2026, a net margin of 14.0%.
  • How much cash and debt does MDT have?
    Medtronic plc. reported $1.69B in cash and cash equivalents and $28.15B of debt on its most recent balance sheet in SEC filings.
  • How fast is MDT revenue growing?
    Medtronic plc.'s revenue changed +8.4% in fiscal 2026, to $36.36B. Its compound annual growth rate was +3.8% over 5 years and +2.3% over 10 years.
  • What is MDT gross margin?
    Medtronic plc.'s gross profit was $24.41B on $37.54B of revenue for the twelve months ended Jul 31, 2026, a gross margin of 65.0%.
  • What is MDT free cash flow?
    Medtronic plc. generated $6.13B of free cash flow for the twelve months ended Jul 31, 2026, which is operating cash flow of $8.04B less capital expenditures.
  • What is MDT earnings per share?
    Diluted earnings per share were $4.06 for the twelve months ended Jul 31, 2026, from SEC filings, restated for any stock split those filings show.
  • When did MDT last report financial results?
    The latest statements here come from Medtronic plc.'s 10-Q filed on Sep 3, 2026, covering the period ended Jul 31, 2026.
  • Where does this MDT financial data come from?
    Quantisnow builds these statements from the structured XBRL data Medtronic plc. files with the SEC. It is provided for information only and is not investment advice.