Medtronic plc MDT

Healthcare SIC 3845 - Electromedical & Electrotherapeutic Apparatus NAICS Manufacturing › Computer and Electronic Product Manufacturing › Navigational, Measuring, Electromedical, and Control Instruments Manufacturing derived NYSE

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:

Last close 95.41 2026-10-23
Market cap $122.04B 2026-07-31 share count
52-week range 73.31 - 106.33

Valuation FY2025 figures against the last close

P/S3.4x
P/E25.6x
P/FCF22.5x
EV/EBITDA12.2x
Dividend yield3.0%
Diluted EPS3.73

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • Non-US
  • U.S.
  • Other
Revenue by geography, 3 categories over 2 years. The same figures are in the table below. FY2025 Non-US, FY2025: 18.3B (50.2%) 50% Non-US U.S., FY2025: 18.1B (49.7%) 50% U.S. Other, FY2025: 39M (0.1%) FY2023 Non-US, FY2023: 15.8B (48.8%) 49% U.S., FY2023: 16.6B (51.2%) 51% Other, FY2023: 0 (0.0%)
Region FY2025FY2023
Non-US $18.26B $15.80B
U.S. $18.10B $16.56B
Other $39.0M $0

As the company reported it, from the “Revenue - Schedule of Disaggregation of Net Sales by Market Geography (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Revenue by segment

  • Cardiovascular
  • Neuroscience
  • Medical Surgical
  • Other Operating Segments, Including Diabetes
Revenue by segment, 4 categories over 3 years. The same figures are in the table below. FY2025 Cardiovascular, FY2025: 14B (38.5%) 38% Cardiovascular Neuroscience, FY2025: 10.3B (28.3%) 28% Neuroscience Medical Surgical, FY2025: 8.8B (24.3%) 24% Medical Surgical Other Operating Segments, Including Diabetes, FY2025: 3.2B (8.9%) 9% FY2024 Cardiovascular, FY2024: 12.5B (37.1%) 37% Neuroscience, FY2024: 9.8B (29.3%) 29% Medical Surgical, FY2024: 8.4B (25.0%) 25% Other Operating Segments, Including Diabetes, FY2024: 2.9B (8.6%) 9% FY2023 Cardiovascular, FY2023: 11.8B (36.6%) 37% Neuroscience, FY2023: 9.4B (29.1%) 29% Medical Surgical, FY2023: 8.4B (26.0%) 26% Other Operating Segments, Including Diabetes, FY2023: 2.7B (8.4%) 8%
Segment FY2025FY2024FY2023
Cardiovascular $13.98B $12.48B $11.83B
Neuroscience $10.29B $9.85B $9.41B
Medical Surgical $8.81B $8.41B $8.42B
Other Operating Segments, Including Diabetes $3.25B $2.89B $2.71B

As the company reported it, from the “Segment and Geographic Information - Segment Reporting (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
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 3.753.632.772.833.752.683.573.442.292.92
EPS, diluted 3.733.612.762.823.732.663.543.412.272.89
Shares, diluted (wtd. avg.) 1.29B1.29B1.33B1.33B1.35B1.35B1.35B1.36B1.37B1.39B

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
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 FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
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.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 10B 20B 30B 40B Revenue, FY2016: 29.7B Gross profit, FY2016: 20.4B Net income, FY2016: 4B Revenue, FY2017: 30B Gross profit, FY2017: 20.9B Net income, FY2017: 3.1B Revenue, FY2018: 30.6B Gross profit, FY2018: 21.4B Net income, FY2018: 4.6B Revenue, FY2019: 28.9B Gross profit, FY2019: 19.5B Net income, FY2019: 4.8B Revenue, FY2020: 30.1B Gross profit, FY2020: 19.6B Net income, FY2020: 3.6B Revenue, FY2021: 31.7B Gross profit, FY2021: 21.5B Net income, FY2021: 5K Revenue, FY2022: 31.2B Gross profit, FY2022: 20.5B Net income, FY2022: 3.8K Revenue, FY2023: 32.4B Gross profit, FY2023: 21.1B Net income, FY2023: 3.7K Revenue, FY2024: 33.5B Gross profit, FY2024: 21.9B Net income, FY2024: 4.7K Revenue, FY2025: 36.4B Gross profit, FY2025: 23.6B Net income, FY2025: 4.8K FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $29.71B $29.95B $30.56B $28.91B $30.12B $31.69B $31.23B $32.36B $33.54B $36.36B
Gross profit $20.42B $20.90B $21.40B $19.49B $19.63B $21.54B $20.51B $21.15B $21.91B $23.64B
Net income $4.03B $3.10B $4.63B $4.79B $3.61B $5.0K $3.8K $3.7K $4.7K $4.8K

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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