Medtronic

US · MDT #176 by market cap Listed 1970

85.51 -1.58 -1.81%

Live - 5344 symbols - heartbeat 253s ago · 2026-10-08 09:18

Pre-market 85.53 +0.02%

After-hours 85.61 +0.11%

Overnight 85.50 -0.01%

Market cap: 109.38B
P/E (TTM): 21.06
P/B: 2.18
EPS: 3.73
Div yield: 3.33%
52W pos: 44%

Reader sentiment Are you bullish or bearish on MDT?

Anonymous reader poll. Unscientific, not investment advice.

✦ Quant Financial Health how this is computed

Fair

Altman Z-Score is 2.82, in the 1.8-3.0 "grey zone".
Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.

Revenue annual, last 8 years

Latest year +8.43% YoY

Margins

Gross margin: 65.02%
Operating margin: 18.78%
Net margin: 13.20%

Key ratios & quality

Enterprise value: 128.07B
PEG ratio: 2.48
Altman Z-Score: 2.82

PEG uses trailing P/E against the 3-year net income growth rate (8.51%/yr) since forward earnings estimates aren't available here, so this is not a "forward PEG." Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.

Income statement

Line item	2019	2020	2021	2022	2023	2024	2025	2026
Revenue	30.56B	28.91B	30.12B	31.69B	31.23B	32.36B	33.54B	36.36B
Gross profit	21.40B	19.49B	19.63B	21.54B	20.51B	21.15B	21.91B	23.64B
Selling & admin expenses	10.42B	10.11B	10.15B	10.29B	10.42B	10.74B	10.85B	11.78B
Research & development	2.33B	2.33B	2.49B	2.75B	2.70B	2.74B	2.73B	2.87B
Operating profit	6.63B	5.22B	4.90B	5.91B	5.83B	5.52B	6.54B	6.83B
Pretax profit	5.20B	4.06B	3.90B	5.52B	5.36B	4.84B	5.63B	6.14B
Tax	547.00M	-751.00M	265.00M	456.00M	1.58B	1.13B	936.00M	1.30B
Net profit	4.65B	4.81B	3.63B	5.06B	3.78B	3.71B	4.69B	4.84B
Basic EPS	3	4	3	4	3	3	4	4
Diluted EPS	3.41	3.54	2.66	3.73	2.82	2.76	3.61	3.73

Line item	2025-04	2025-07	2025-10	2026-01	2026-04	2026-07
Revenue	8.93B	8.58B	8.96B	9.02B	9.81B	9.76B
Gross profit	5.78B	5.58B	5.90B	5.76B	6.41B	6.34B
Selling & admin expenses	2.72B	2.81B	2.97B	2.96B	3.06B	3.20B
Research & development	684.00M	726.00M	754.00M	722.00M	671.00M	771.00M
Operating profit	1.80B	1.52B	1.70B	1.60B	2.01B	1.84B
Pretax profit	1.26B	1.30B	1.60B	1.40B	1.83B	1.77B
Tax	199.00M	255.00M	215.00M	254.00M	575.00M	289.00M
Net profit	1.06B	1.05B	1.38B	1.15B	1.26B	1.48B
Basic EPS	1	1	1	1	1	1
Diluted EPS	0.82	0.81	1.07	0.89	0.96	1.14

Balance sheet

Line item	2019	2020	2021	2022	2023	2024	2025	2026
Total current assets	21.97B	22.03B	22.55B	23.06B	21.68B	21.94B	23.81B	24.79B
Cash & ST investments	9.85B	10.95B	10.82B	10.57B	7.96B	8.01B	8.97B	9.22B
Inventory	3.75B	4.23B	4.31B	4.62B	5.29B	5.22B	5.48B	5.95B
Total assets	89.69B	90.69B	93.08B	90.98B	90.95B	89.98B	91.68B	93.03B
Total current liabilities	8.47B	10.37B	8.51B	12.39B	9.05B	10.79B	12.88B	11.66B
Short-term debt	838.00M	2.78B	11.00M	3.74B	20.00M	1.09B	2.87B	1.79B
Long-term debt	24.47B	21.98B	26.32B	20.32B	24.29B	23.88B	25.59B	26.12B
Total liabilities	39,482,000,000.00	39,817,000,000.00	41,481,000,000.00	38,259,000,000.00	39,283,000,000.00	39,561,000,000.00	43,424,000,000.00	42,956,000,000.00
Total equity	50.21B	50.87B	51.60B	52.72B	51.67B	50.42B	48.26B	50.07B
Retained earnings	26.27B	28.13B	28.59B	30.25B	30.39B	30.40B	31.48B	32.64B

Line item	2025-04	2025-07	2025-10	2026-01	2026-04	2026-07
Total current assets	23.81B	23.22B	24.00B	24.07B	24.79B	24.39B
Cash & ST investments	8.97B	8.12B	8.33B	8.38B	9.22B	8.82B
Inventory	5.48B	5.89B	6.16B	6.31B	5.95B	6.22B
Total assets	91.68B	90.97B	91.35B	91.49B	93.03B	93.31B
Total current liabilities	12.88B	11.53B	9.94B	9.50B	11.66B	11.80B
Short-term debt	2.87B	2.43B	1.42B	191.00M	1.79B	2.54B
Long-term debt	25.59B	26.13B	27.63B	27.82B	26.12B	25.62B
Total liabilities	43,424,000,000.00	42,839,000,000.00	42,489,000,000.00	42,289,000,000.00	42,956,000,000.00	42,456,000,000.00
Total equity	48.26B	48.13B	48.86B	49.20B	50.07B	50.85B
Retained earnings	31.48B	31.61B	32.07B	32.30B	32.64B	33.19B

Cash flow

Line item	2019	2020	2021	2022	2023	2024	2025	2026
Operating cash flow	7.01B	7.23B	6.24B	7.35B	6.04B	6.79B	7.04B	7.33B
Depreciation & amortization	2.66B	2.66B	2.70B	2.71B	2.70B	2.65B	2.86B	2.96B
Free cash flow	5.87B	6.02B	4.89B	5.98B	4.58B	5.20B	5.19B	5.43B
Dividends paid	-2.69B	-2.89B	-3.12B	-3.38B	-3.62B	-3.67B	-3.59B	-3.64B
Stock buybacks / issuance	-1.89B	-664.00M	-178.00M	-2.12B	-337.00M	-1.85B	-2.73B	19.00M
Ending cash balance	4.39B	4.14B	3.59B	3.71B	1.54B	1.28B	2.22B	1.95B

Line item	2025-04	2025-07	2025-10	2026-01	2026-04	2026-07
Operating cash flow	2.53B	1.09B	925.00M	2.74B	2.57B	1.79B
Depreciation & amortization	840.00M	748.00M	745.00M	749.00M	716.00M	729.00M
Free cash flow	2.07B	584.00M	457.00M	2.30B	2.09B	1.29B
Dividends paid	-897.00M	-910.00M	-910.00M	-911.00M	-908.00M	-921.00M
Stock buybacks / issuance	-166.00M	-28.00M	-212.00M	59.00M	200.00M	-247.00M
Ending cash balance	2.22B	1.27B	1.28B	1.15B	1.95B	1.69B

Returns & efficiency

Line item	2019	2020	2021	2022	2023	2024	2025	2026
ROE %	9.19	9.50	7.06	9.69	7.22	7.23	9.49	9.85
ROA %	5.11	5.31	3.92	5.48	4.13	4.06	5.13	5.20
ROIC %	7.80	7.40	5.83	7.18	5.52	5.60	6.94	6.97
5-year avg ROE %	7.46	7.89	7.95	8.32	8.53	8.14	8.14	8.70
EBIT margin %	21.73	17.80	16.00	19.16	19.21	17.17	18.96	18.84
FCF / sales %	19.22	20.82	16.22	18.87	14.67	16.07	15.46	14.92
Current ratio	2.59	2.13	2.65	1.86	2.39	2.03	1.85	2.13
Quick ratio	1.90	1.50	1.91	1.30	1.54	1.31	1.20	1.36
Debt / assets	28.22	27.34	28.35	26.50	26.79	27.81	31.10	30.06
LT debt / equity	48.87	43.40	51.29	38.77	47.29	47.66	53.39	52.91
Interest coverage	4.60	4.71	5.21	10.98	9.43	7.73	8.72	9.58
Revenue CAGR (3Y) %	1.95	-0.90	0.18	1.22	2.60	2.43	1.91	5.21
Net income CAGR (3Y) %	9.39	5.94	5.12	2.85	-7.76	0.64	-2.56	8.51
FCF CAGR (3Y) %	12.07	2.29	10.55	0.59	-8.72	2.10	-4.63	5.81

Line item	2025-04	2025-07	2025-10	2026-01	2026-04	2026-07
ROE %	9.49	9.72	9.81	9.38	9.85	10.66
ROA %	5.13	5.16	5.25	5.08	5.20	5.68
ROIC %	6.94	6.92	6.94	6.81	6.97	7.50
5-year avg ROE %	--	--	--	--	--	--
EBIT margin %	18.96	18.71	18.44	17.69	18.84	19.52
FCF / sales %	15.46	15.51	14.98	15.25	14.92	16.33
Current ratio	1.85	2.01	2.42	2.54	2.13	2.07
Quick ratio	1.20	1.25	1.48	1.55	1.36	1.29
Debt / assets	31.10	31.45	31.86	30.68	30.06	30.17
LT debt / equity	53.39	54.66	56.89	56.92	52.91	51.00
Interest coverage	8.72	8.67	9.03	8.80	9.58	10.11
Revenue CAGR (3Y) %	--	--	--	--	--	--
Net income CAGR (3Y) %	--	--	--	--	--	--
FCF CAGR (3Y) %	--	--	--	--	--	--

✦ Quant Revenue Concentration how this is computed

Diversified

Cardiovascular is the largest reported line at 40.25% of revenue, across 4 reported segments.
No single line clears half of revenue; Neuroscience is next at 27.45%, spreading the business across more than one real driver.

Revenue breakdown most recent period

Business

Cardiovascular40.25%

Neuroscience27.45%

Medical Surgical23.36%

Other Operating Segment8.94%

Quote time 2026-10-08 09:18:55 · For reference only, not investment advice and not tailored to your situation.