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MDT · NYSE · United States · Electromedical & Electrotherapeutic Apparatus
In shortMedtronic plc is profitable, generates cash and carries moderate debt, with revenue growing (+8.4% last year).
Financial health
Strong
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 17.8% | 76/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 13.2% | 73/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 9.8% | 49/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 6.6% | 44/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 2.13× | 100/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.57× | 80/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | 1.99× | 57/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | 9.04× | 72/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 3.75 | 68/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 14.9% | 80/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 1.13× | 100/100 |
| Years with positive free cash flow (last 5) | 5 of 5 | 100/100 |
Weight in the score: 20%
| Profitable years (last 5) | 5 of 5 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 1 of 5 | 67/100 |
| Revenue growth volatility | 3.6% | 98/100 |
| Operating margin volatility | 0.9% | 100/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 5.2% | 46/100 |
|---|---|---|
| EPS growth, 3-year average | 9.8% | 74/100 |
Weight in the score: 10%
Fiscal year 2026 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 31,686 | 31,227 | 32,364 | 33,537 | 36,364 |
| Cost of revenue | 10,145 | 10,719 | 11,216 | 11,632 | 12,721 |
| Gross profit | 21,541 | 20,508 | 21,148 | 21,905 | 23,643 |
| Research & development | 2,746 | 2,696 | 2,735 | 2,732 | 2,873 |
| Selling, general & admin | 10,292 | 10,415 | 10,736 | 10,849 | 11,784 |
| Operating income | 5,752 | 5,485 | 5,144 | 5,955 | 6,467 |
| Interest expense | 553 | 636 | 719 | 729 | 715 |
| Pre-tax income | 5,517 | 5,364 | 4,837 | 5,628 | 6,136 |
| Income tax | 456 | 1,580 | 1,133 | 936 | 1,299 |
| Net income | 5,039 | 3,758 | 3,676 | 4,662 | 4,801 |
| Diluted EPS | $3.73 | $2.82 | $2.76 | $3.61 | $3.73 |
| Diluted shares (millions) | 1,351 | 1,333 | 1,330 | 1,290 | 1,288 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
3.75 Safe zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
7/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Jul 31, 2026 · Data updated Sep 3, 2026