MDT Financials Medtronic

14 years of revenue, profit, cash flow and balance-sheet history through FY2026, from SEC filings — with a computed, factual read of the trend. Updated 29 h ago Overview →

Growth & profitability

Revenue has grown 3.8% per year over the past 5 years.
Net income has grown faster than revenue (5.9% vs 3.8% per year).
Operating margin has expanded, at 17.8% in the latest year.
Free cash flow has grown 2.1% per year over the past 5 years.

Financial health

Total debt has grown slower than revenue (-6.9% vs 3.8% per year).
Operating income covered interest expense 9.0× in the latest year.

Shareholder returns

Dividends have been paid for 14 consecutive years, consuming 75.8% of earnings and 67.1% of free cash flow.
The dividend has grown 3.1% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	FCF	Total debt	Cash
2026	$36.4B	$4.8B	65.0%	17.8%	$5.4B	—	$1.9B
2025	$33.5B	$4.7B	65.3%	17.8%	$5.2B	—	$2.2B
2024	$32.4B	$3.7B	65.3%	15.9%	$5.2B	—	$1.3B
2023	$31.2B	$3.8B	65.7%	17.6%	$4.6B	—	$1.5B
2022	$31.7B	$5.0B	68.0%	18.2%	$6.0B	—	$3.7B
2021	$30.1B	$3.6B	65.2%	14.9%	$4.9B	—	$3.6B
2020	$28.9B	$4.8B	67.4%	16.6%	$6.0B	$24.9B	$4.1B
2019	$30.6B	$4.6B	70.0%	20.5%	$5.9B	$25.4B	$4.4B
2018	$30.0B	$3.1B	69.8%	22.2%	$3.6B	$25.8B	$3.7B
2017	$29.7B	$4.0B	68.7%	18.1%	$5.6B	$33.4B	$5.0B
2016	—	$3.5B	—	—	$4.2B	$30.9B	$2.9B
2015	—	$2.7B	—	—	$4.3B	$35.6B	$4.8B
2014	—	$3.1B	—	—	$4.6B	—	$1.4B
2013	—	$3.5B	—	—	—	—	$919M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	FCF	Total debt	Cash
Apr '26	$9.8B	$1.2B	65.4%	19.1%	$2.1B	—	$1.9B
Jan '26	$9.0B	$1.1B	63.8%	16.2%	$2.3B	—	$1.1B
Oct '25	$9.0B	$1.4B	65.8%	18.8%	$457M	—	$1.3B
Jul '25	$8.6B	$1.0B	65.0%	16.8%	$584M	—	$1.3B
Apr '25	$8.9B	$1.1B	64.7%	16.1%	$2.1B	—	$2.2B
Jan '25	$8.3B	$1.3B	66.5%	19.9%	$2.1B	—	$1.2B
Oct '24	$8.4B	$1.3B	64.9%	19.0%	$554M	—	$1.4B
Jul '24	$7.9B	$1.0B	65.1%	16.1%	$466M	—	$1.3B
Apr '24	$8.6B	$654M	64.6%	12.3%	$2.4B	—	$1.3B
Jan '24	$8.1B	$1.3B	65.6%	18.3%	$2.1B	—	$1.6B
Oct '23	$8.0B	$909M	65.4%	16.8%	$200M	—	$1.3B
Jul '23	$7.7B	$791M	65.9%	16.5%	$521M	—	$1.3B
Apr '23	$8.5B	$1.2B	65.1%	18.3%	$2.1B	—	$1.5B
Jan '23	$7.7B	$1.2B	65.2%	18.0%	$1.2B	—	$4.5B
Oct '22	$7.6B	$427M	66.6%	18.5%	$599M	—	$4.8B
Jul '22	$7.4B	$929M	65.9%	15.3%	$657M	—	$2.1B
Apr '22	$8.1B	$1.5B	68.0%	20.7%	$1.7B	—	$3.7B
Jan '22	$7.8B	$1.5B	68.3%	21.4%	$1.9B	—	$3.5B
Oct '21	$7.8B	$1.3B	68.2%	19.9%	$1.5B	—	$2.9B
Jul '21	$8.0B	$763M	67.5%	10.8%	$914M	—	$3.0B

Valuation over time

How the market has priced MDT against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 20.5× (Mar '23) to 21.5× (Jun '26).
The price-to-sales ratio has fallen from 3.3× (Mar '23) to 2.8× (Jun '26).
The dividend yield has risen from 3.3% (Mar '23) to 3.5% (Jun '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is MDT growing its revenue and profit?

Over the past 5 years, Medtronic's revenue has grown 3.8% per year, and net income grown 5.9% per year. These are computed facts, not advice.

How much debt does MDT have?

As of FY2026, Medtronic reported — of total debt against $1.9B of cash; operating income covered interest expense 9.0×.

What is MDT's profit margin?

In FY2026, gross margin was 65.0%, operating margin 17.8%, and net margin 13.2%.

What is MDT's P/E ratio?

As of Jun '26, Medtronic traded at a price-to-earnings ratio of about 21.5× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.