Medline Inc. (MDLN) Income Statement
MDLN 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsMDLN revenue and net income
Where MDLN's revenue goes
2025Each bar shows an amount and its share of revenue. MDLN kept 4.1% of revenue as net income.
MDLN profit margins
MDLN growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +11.5% | +9.9% | — | — |
| Gross profit | +19.5% | +18.2% | — | — |
| Operating income | −0.6% | +36.5% | — | — |
| Net income | −3.4% | — | — | — |
| EPS (diluted) | −53.4% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MDLN quarterly EPS vs estimates
Medline beat the analyst EPS estimate in 4 of the last 4 quarters. Next report: November 4, 2026 (estimate $0.32).
MDLN income statement
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Revenue | $28.43B | $25.51B | $23.23B | $21.45B |
| Cost of revenue | $20.91B | $19.22B | $18.01B | $16.89B |
| Gross profit | $7.52B | $6.29B | $5.22B | $4.56B |
| Research & development | — | $67.0M | $60.0M | $58.0M |
| Sales, general & admin | $4.52B | — | — | — |
| Total operating expenses | $5.31B | $4.07B | $3.78B | $3.69B |
| Operating income | $2.21B | $2.23B | $1.44B | $870.0M |
| Interest expense | $812.0M | $1.31B | $1.38B | $911.0M |
| Income before taxes | $1.25B | $1.25B | $264.0M | $10.0M |
| Income taxes | $91.0M | $46.0M | $30.0M | $35.0M |
| Net income | $1.16B | $1.20B | $234.0M | −$25.0M |
| EBITDA | $2.26B | $3.53B | $2.59B | $1.85B |
| EPS (diluted) | $0.69 | $1.48 | — | — |
| Gross margin | 26.4% | 24.7% | 22.5% | 21.2% |
| Operating margin | 7.8% | 8.7% | 6.2% | 4.1% |
| Net margin | 4.1% | 4.7% | 1.0% | −0.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Sep '24 | Jun '24 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $7.68B | $7.35B | $7.79B | $7.12B | $6.89B | $6.64B | $6.39B | $6.18B |
| Cost of revenue | $5.47B | $5.69B | $5.87B | $5.42B | $5.16B | $5.00B | $4.80B | $4.69B |
| Gross profit | $2.21B | $1.67B | $1.91B | $1.70B | $1.73B | $1.65B | $1.58B | $1.49B |
| Sales, general & admin | $1.29B | $1.23B | $1.26B | — | — | $1.07B | — | — |
| Total operating expenses | $1.82B | $1.24B | $1.49B | $1.12B | $1.10B | $1.06B | $1.01B | $978.0M |
| Operating income | $395.0M | $422.0M | $425.0M | $574.0M | $629.0M | $591.0M | $574.0M | $516.0M |
| Interest income | $49.0M | $29.0M | — | — | $30.0M | $34.0M | — | — |
| Interest expense | $168.0M | $165.0M | $166.0M | $228.0M | $233.0M | $214.0M | $174.0M | $267.0M |
| Income before taxes | $235.0M | $291.0M | $206.0M | $345.0M | $359.0M | $338.0M | $338.0M | $300.0M |
| Income taxes | $96.0M | $52.0M | $26.0M | $23.0M | $26.0M | $16.0M | $14.0M | $8.0M |
| Net income | $60.0M | $129.0M | $180.0M | $322.0M | $333.0M | $322.0M | $324.0M | $292.0M |
| EBITDA | $659.0M | $681.0M | $467.0M | $826.0M | $842.0M | $799.0M | $760.0M | $806.0M |
| EPS (diluted) | $0.47 | $0.33 | $0.38 | $0.31 | — | — | — | — |
| Gross margin | 28.8% | 22.6% | 24.6% | 23.9% | 25.1% | 24.8% | 24.8% | 24.2% |
| Operating margin | 5.1% | 5.7% | 5.5% | 8.1% | 9.1% | 8.9% | 9.0% | 8.3% |
| Net margin | 0.8% | 1.8% | 2.3% | 4.5% | 4.8% | 4.8% | 5.1% | 4.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MDLN's financial statements (latest annual report filed December 31, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MDLN financial results
In fiscal year 2025 (ended December 31, 2025), Medline reported revenue of $28.4 billion, up 11.5% from the year before. It had net income of $1.2 billion (down 3.4%), a net profit margin of 4.1%. Diluted earnings per share came to $0.69.
See the MDLN stock overview for the latest quote and news, or the MDLN chart for price history and technical indicators.
MDLN income statement FAQ
What is Medline's annual revenue?
Medline reported total revenue of $28.4 billion for fiscal year 2025, which ended on December 31, 2025. That was up 11.5% from $25.5 billion the previous year.
Is Medline profitable?
Yes. Medline reported net income of $1.2 billion in fiscal 2025, a net profit margin of 4.1%; its operating margin was 7.8%.
What is Medline's gross margin?
Medline's gross margin was 26.4% in fiscal 2025: for every $100 of revenue, Medline kept $26 after the direct cost of its products and services.
What are Medline's earnings per share?
Medline earned $0.69 per diluted share in fiscal 2025, compared with $1.48 a year earlier.
When will Medline report its next earnings?
Medline is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 before the market opens.
When does Medline's fiscal year end?
Medline's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on December 31, 2025.