MiniMed Group, Inc. MMED

Healthcare SIC 3841 - Surgical & Medical Instruments & Apparatus Nasdaq

References within this Annual Report to "MiniMed," "we," "our," "us," "management," or the "Company" refer to MiniMed Group, Inc., ("MiniMed") together with its wholly-owned subsidiaries.

We are a scaled global medical technology company that develops, manufactures, and markets a comprehensive suite of solutions for the management of diabetes. Since our founding more than 40 years ago, we have pioneered groundbreaking innovation and served the needs of our customers across the globe in service of our mission to make every day a better day for people with diabetes.

We were the first player in the market to commercialize all parts of an integrated diabetes management system. This allows us to provide a five-star customer experience: an easier and consistent user experience, seamless integration, privacy and security, optimized performance and reliability, and our pioneering and industry-leading dosing algorithm, based on TIR outcomes in real-world data. This differentiated value proposition is designed to solve two key problems for PWD. First, we believe our products deliver superior health outcomes, when measured against EASD and ADA guidelines, by effectively and measurably improving glycemic control compared to other available treatment options and competing products. By enhancing glycemic control, our products can help reduce long-term complications of diabetes, improve longevity and quality of life, and reduce associated costs to health systems. Second, our customer experience reduces or substantially eliminates the burden of diabetes management for users, their families, their caregivers, and their HCPs.

Last close 23.29 2026-09-04
Market cap $6.54B 2026-04-24 share count
52-week range 10.65 - 24.43

Valuation FY2025 figures against the last close

P/S2.1x
P/E
P/FCF
EV/EBITDA
Dividend yield
Diluted EPS-1.30

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022
Revenue $3.10B$2.71B$2.47B
Cost of revenue $1.42B$1.19B$1.03B
Gross profit $1.68B$1.53B$1.44B
SG&A $1.18B$1.08B$1.06B
Operating income -$190.0M-$146.0M-$69.0M
Pre-tax income -$189.0M-$147.0M-$70.0M
Income tax $128.0M$52.0M$38.0M
Net income -$317.0M-$213.0M-$112.0M
EPS, basic -1.30-0.84-0.44
EPS, diluted -1.30-0.84-0.44
Shares, diluted (wtd. avg.) $256.6M$252.8M$252.8M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022
Cash and equivalents $298.0M$11.0M$54.0M$58.0M
Receivables $200.0M$570.0M
Inventory $341.0M$311.0M
Total current assets $1.35B$939.0M
Property, plant and equipment $711.0M$706.0M
Goodwill $2.26B$2.25B
Other intangibles $107.0M$132.0M
Total assets $4.63B$4.20B
Accounts payable $163.0M$205.0M
Total current liabilities $702.0M$710.0M
Total liabilities $1.02B$871.0M
Retained earnings -$116.0M$0
Total equity $3.61B$3.33B$3.45B$3.40B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022
Operating cash flow -$197.0M$140.0M$41.0M
Depreciation and amortisation $156.0M$143.0M$129.0M
Stock-based compensation $46.0M$41.0M$38.0M
Capital expenditure $223.0M$193.0M$148.0M
Investing cash flow -$233.0M-$193.0M-$157.0M
Financing cash flow $716.0M$10.0M$112.0M

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 0001140361-26-034021.

Others in SIC 3841

TickerCompanyMarket capP/ERevenue growth
SYK STRYKER CORP $116.27B 36.1x 11.2%
MMM 3M CO $86.93B 28.1x 1.5%
BSX BOSTON SCIENTIFIC CORP $69.27B 24.6x 19.9%
BDX BECTON DICKINSON & CO $50.32B 31.7x 8.2%
DXCM DEXCOM INC $33.17B 42.1x 15.6%
RMD RESMED INC $32.94B 21.9x 9.9%
MDLN Medline Inc. $31.35B 11.5%
WST WEST PHARMACEUTICAL SERVICES INC $23.93B 50.1x 6.3%