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Stocks · Health care · Electromedical & Electrotherapeutic Apparatus

Medtronic

MDT Clue Score40
Fiscal year ends April CIK 0001613103
$88.48 +0.83% Close, 9 Oct 2026
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Price $88.48 −28.38% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue29.71Operating income5.38Net income4.03EPS, diluted2.89Fiscal year 2018Revenue29.95 +0.8%Operating income6.64Net income3.10 −22.9%EPS, diluted2.27 −21.5%Fiscal year 2019Revenue30.56 +2.0%Operating income6.27Net income4.63 +49.2%EPS, diluted3.41 +50.2%Fiscal year 2020Revenue28.91 −5.4%Operating income4.79Net income4.79 +3.4%EPS, diluted3.54 +3.8%Fiscal year 2021Revenue30.12 +4.2%Operating income4.48Net income3.61 −24.7%EPS, diluted2.66 −24.9%Fiscal year 2022Revenue31.69 +5.2%Operating income5.75Net income5.04 +39.7%EPS, diluted3.73 +40.2%Fiscal year 2023Revenue31.23 −1.4%Operating income5.49Net income3.76 −25.4%EPS, diluted2.82 −24.4%Fiscal year 2024Revenue32.36 +3.6%Operating income5.14Net income3.68 −2.2%EPS, diluted2.76 −2.1%Fiscal year 2025Revenue33.54 +3.6%Operating income5.96Net income4.66 +26.8%EPS, diluted3.61 +30.8%Fiscal year 2026Revenue36.36 +8.4%Operating income6.47Net income4.80 +3.0%EPS, diluted3.73 +3.3%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Revenue 29.71 29.95 30.56 28.91 30.12 31.69 31.23 32.36 33.54 36.36
Growth +0.8% +2.0% −5.4% +4.2% +5.2% −1.4% +3.6% +3.6% +8.4%
Operating income 5.38 6.64 6.27 4.79 4.48 5.75 5.49 5.14 5.96 6.47
Net income 4.03 3.10 4.63 4.79 3.61 5.04 3.76 3.68 4.66 4.80
Growth −22.9% +49.2% +3.4% −24.7% +39.7% −25.4% −2.2% +26.8% +3.0%
EPS, diluted 2.89 2.27 3.41 3.54 2.66 3.73 2.82 2.76 3.61 3.73
Growth −21.5% +50.2% +3.8% −24.9% +40.2% −24.4% −2.1% +30.8% +3.3%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2017Gross margin68.7%Operating margin18.1%Net margin13.6%Free cash flow margin18.9%Fiscal year 2018Gross margin69.8%Operating margin22.2%Net margin10.4%Free cash flow margin12.1%Fiscal year 2019Operating margin20.5%Net margin15.2%Free cash flow margin19.2%Fiscal year 2020Operating margin16.6%Net margin16.6%Free cash flow margin20.8%Fiscal year 2021Operating margin14.9%Net margin12.0%Free cash flow margin16.2%Fiscal year 2022Operating margin18.2%Net margin15.9%Free cash flow margin18.9%Fiscal year 2023Operating margin17.6%Net margin12.0%Free cash flow margin14.7%Fiscal year 2024Operating margin15.9%Net margin11.4%Free cash flow margin16.1%Fiscal year 2025Operating margin17.8%Net margin13.9%Free cash flow margin15.5%Fiscal year 2026Operating margin17.8%Net margin13.2%Free cash flow margin14.9%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Gross margin 68.7% 69.8% n/a n/a n/a n/a n/a n/a n/a n/a
Operating margin 18.1% 22.2% 20.5% 16.6% 14.9% 18.2% 17.6% 15.9% 17.8% 17.8%
Net margin 13.6% 10.4% 15.2% 16.6% 12.0% 15.9% 12.0% 11.4% 13.9% 13.2%
Free cash flow margin 18.9% 12.1% 19.2% 20.8% 16.2% 18.9% 14.7% 16.1% 15.5% 14.9%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow6.88Capital expenditure−1.25Free cash flow5.63Buybacks−3.54Dividends paid−2.38Fiscal year 2018Operating cash flow4.68Capital expenditure−1.07Free cash flow3.62 −35.7%Buybacks−2.17Dividends paid−2.49Fiscal year 2019Operating cash flow7.01Capital expenditure−1.13Free cash flow5.87 +62.4%Buybacks−2.88Dividends paid−2.69Fiscal year 2020Operating cash flow7.23Capital expenditure−1.21Free cash flow6.02 +2.5%Buybacks−1.33Dividends paid−2.89Fiscal year 2021Operating cash flow6.24Capital expenditure−1.36Free cash flow4.89 −18.9%Buybacks−0.65Dividends paid−3.12Fiscal year 2022Operating cash flow7.35Capital expenditure−1.37Free cash flow5.98 +22.4%Buybacks−2.54Dividends paid−3.38Fiscal year 2023Operating cash flow6.04Capital expenditure−1.46Free cash flow4.58 −23.4%Buybacks−0.65Dividends paid−3.62Fiscal year 2024Operating cash flow6.79Capital expenditure−1.59Free cash flow5.20 +13.5%Buybacks−2.14Dividends paid−3.67Fiscal year 2025Operating cash flow7.04Capital expenditure−1.86Free cash flow5.19 −0.3%Buybacks−3.24Dividends paid−3.59Fiscal year 2026Operating cash flow7.33Capital expenditure−1.90Free cash flow5.43 +4.6%Buybacks−1.04Dividends paid−3.64
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Operating cash flow 6.88 4.68 7.01 7.23 6.24 7.35 6.04 6.79 7.04 7.33
Capital expenditure −1.25 −1.07 −1.13 −1.21 −1.36 −1.37 −1.46 −1.59 −1.86 −1.90
Free cash flow 5.63 3.62 5.87 6.02 4.89 5.98 4.58 5.20 5.19 5.43
Growth −35.7% +62.4% +2.5% −18.9% +22.4% −23.4% +13.5% −0.3% +4.6%
Buybacks −3.54 −2.17 −2.88 −1.33 −0.65 −2.54 −0.65 −2.14 −3.24 −1.04
Dividends paid −2.38 −2.49 −2.69 −2.89 −3.12 −3.38 −3.62 −3.67 −3.59 −3.64

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash4.97Total debt33.37Net cash (debt)−28.40Shareholders’ equity50.21Debt to equity0.66Fiscal year 2018Cash3.67Total debt25.75Net cash (debt)−22.08Shareholders’ equity50.72Debt to equity0.51Fiscal year 2019Cash4.39Total debt25.39Net cash (debt)−21.00Shareholders’ equity50.09Debt to equity0.51Fiscal year 2020Cash4.14Total debt24.92Net cash (debt)−20.78Shareholders’ equity50.74Debt to equity0.49Fiscal year 2021Cash3.59Shareholders’ equity51.43Fiscal year 2022Cash3.71Shareholders’ equity52.55Fiscal year 2023Cash1.54Shareholders’ equity51.48Fiscal year 2024Cash1.28Shareholders’ equity50.21Fiscal year 2025Cash2.22Shareholders’ equity48.02Fiscal year 2026Cash1.95Shareholders’ equity49.46
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Cash 4.97 3.67 4.39 4.14 3.59 3.71 1.54 1.28 2.22 1.95
Total debt 33.37 25.75 25.39 24.92 n/a n/a n/a n/a n/a n/a
Net cash (debt) −28.40 −22.08 −21.00 −20.78 n/a n/a n/a n/a n/a n/a
Shareholders’ equity 50.21 50.72 50.09 50.74 51.43 52.55 51.48 50.21 48.02 49.46
Debt to equity 0.66 0.51 0.51 0.49 n/a n/a n/a n/a n/a n/a

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2026 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending April, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 28 Apr 2017 FY2018 27 Apr 2018 FY2019 26 Apr 2019 FY2020 24 Apr 2020 FY2021 30 Apr 2021 FY2022 29 Apr 2022 FY2023 28 Apr 2023 FY2024 26 Apr 2024 FY2025 25 Apr 2025 FY2026 24 Apr 2026
Margins
68.7% 69.8% n/a n/a n/a n/a n/a n/a n/a n/a
18.1% 22.2% 20.5% 16.6% 14.9% 18.2% 17.6% 15.9% 17.8% 17.8%
15.5% 18.9% 17.0% 14.0% 12.9% 17.4% 17.2% 14.9% 16.8% 16.9%
13.6% 10.4% 15.2% 16.6% 12.0% 15.9% 12.0% 11.4% 13.9% 13.2%
18.9% 12.1% 19.2% 20.8% 16.2% 18.9% 14.7% 16.1% 15.5% 14.9%
Spending
33.7% 34.2% 34.1% 35.0% 33.7% 32.5% 33.4% 33.2% 32.3% 32.4%
4.2% 3.6% 3.7% 4.2% 4.5% 4.3% 4.7% 4.9% 5.5% 5.2%
12.6% 45.5% 10.5% −18.5% 6.8% 8.3% 29.5% 23.4% 16.6% 21.2%
Returns
8.0% 6.1% 9.2% 9.4% 7.0% 9.6% 7.3% 7.3% 9.7% 9.7%
4.0% 3.4% 5.2% 5.3% 3.9% 5.5% 4.1% 4.1% 5.1% 5.2%
Balance and payout
0.66 0.51 0.51 0.49 n/a n/a n/a n/a n/a n/a
49.6% 44.4% 44.0% 43.9% 44.6% 42.1% 43.2% 44.0% 47.4% 46.2%
59.0% 80.3% 58.2% 60.4% 86.5% 67.1% 96.2% 99.7% 77.0% 75.8%
105.2% 129.0% 94.8% 70.1% 77.2% 99.1% 93.0% 111.6% 131.6% 86.1%