Medtronic plc MDT
Medtronic plc, headquartered in Galway, Ireland, is the leading global healthcare technology company. Medtronic was founded in 1949 and today serves healthcare systems, physicians, clinicians, and patients in more than 150 countries worldwide. We remain committed to a mission written by our founder in 1960 that directs us "to contribute to human welfare by the application of biomedical engineering in the research, design, manufacture, and sale of products to alleviate pain, restore health, and extend life."
Our Mission — to alleviate pain, restore health, and extend life — empowers us to engineer the extraordinary and deliver better outcomes for our world. We are a company of dedication, honesty, integrity, and service. Building on this strong foundation, we are embracing our role as a healthcare technology leader and evolving our business strategy in three key areas:
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| SG&A | $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 | $715.0M | $729.0M | $719.0M | $636.0M | $553.0M | $925.0M | $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 | $936.0M | $1.13B | $1.58B | $456.0M | $265.0M | $751.0M | $547.0M | $2.58B | $578.0M |
| Net income | $4.8K | $4.7K | $3.7K | $3.8K | $5.0K | $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 |
| Shares, diluted (wtd. avg.) | $1.29B | $1.29B | $1.33B | $1.33B | $1.35B | $1.35B | $1.35B | $1.36B | $1.37B | $1.39B |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| Total current assets | $24.79B | $23.81B | $21.93B | $21.68B | $23.06B | $22.55B | $22.03B | $21.97B | $22.98B | $24.87B |
| Property, plant and equipment | $7.42B | $6.84B | $6.13B | $5.57B | $5.41B | $5.22B | $4.83B | $4.67B | $4.60B | $4.36B |
| Goodwill | $42.59B | $41.74B | $40.99B | $41.42B | $40.50B | $41.96B | $39.84B | $39.96B | $39.54B | $38.52B |
| Other intangibles | $10.15B | $11.67B | $13.22B | $14.84B | $15.60B | $17.74B | $19.06B | $20.56B | $21.72B | $23.41B |
| Total assets | $93.03B | $91.68B | $89.98B | $90.95B | $90.98B | $93.08B | $90.69B | $89.69B | $91.39B | $99.86B |
| Accounts payable | $2.64B | $2.45B | $2.41B | $2.66B | $2.28B | $2.11B | $2.00B | $1.95B | $1.63B | $1.55B |
| Short-term debt | $1.79B | $2.87B | $1.09B | $20.0M | $3.74B | $11.0M | $2.78B | $838.0M | $2.06B | $7.52B |
| Total current liabilities | $11.66B | $12.88B | $10.79B | $9.05B | $12.39B | $8.51B | $10.37B | $8.47B | $10.08B | $14.26B |
| Long-term debt | — | — | — | — | — | — | $22.14B | $24.55B | $23.69B | $25.87B |
| Total liabilities | $42.96B | $43.42B | $39.56B | $39.28B | $38.26B | $41.48B | $39.82B | $39.48B | $40.57B | $49.53B |
| Retained earnings | $32.64B | $31.48B | $30.40B | $30.39B | $30.25B | $28.59B | $28.13B | $26.27B | $24.38B | $23.27B |
| Total equity | $49.46B | $48.02B | $50.42B | $51.66B | $52.72B | $51.60B | $50.87B | $50.21B | $50.82B | $50.33B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $7.33B | $7.04B | $6.79B | $6.04B | $7.35B | $6.24B | $7.23B | $7.01B | $4.68B | $6.88B |
| Depreciation and amortisation | $2.96B | $2.86B | $2.65B | $2.70B | $2.71B | $2.70B | $2.66B | $2.66B | $2.64B | $2.92B |
| Stock-based compensation | $457.0M | $429.0M | $393.0M | $355.0M | $359.0M | $344.0M | $297.0M | $290.0M | $344.0M | $348.0M |
| Capital expenditure | $1.90B | $1.86B | $1.59B | $1.46B | $1.37B | $1.35B | $1.21B | $1.13B | $1.07B | $1.25B |
| Investing cash flow | -$2.93B | -$1.94B | -$2.37B | -$3.49B | -$1.66B | -$2.87B | -$3.20B | -$774.0M | $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 |
| Buybacks | $1.03B | $3.23B | $2.14B | $645.0M | $2.54B | $652.0M | $1.33B | $2.88B | $2.17B | $3.54B |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001613103-26-000010.
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| CV | CapsoVision, Inc | $299.8M | — | 15.3% |