Medtronic plc (MDT) Income Statement
MDT FY2026 at a glance
Fiscal year ended April 30, 2026 · U.S. dollarsMDT revenue and net income
Where MDT's revenue goes
FY2026Each bar shows an amount and its share of revenue. MDT kept 13.2% of revenue as net income.
MDT profit margins
MDT growth rates
to FY2026| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +8.4% | +5.2% | +3.8% | +2.3% |
| Gross profit | +7.9% | +4.9% | +3.8% | +1.8% |
| Operating income | +8.6% | +5.6% | +7.6% | +1.9% |
| Net income | +3.0% | +8.5% | +5.9% | +3.1% |
| EPS (diluted) | +0.5% | +1.4% | +4.5% | +2.4% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MDT quarterly EPS vs estimates
Medtronic beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: November 17, 2026 (estimate $1.34).
MDT income statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $36.36B | $33.54B | $32.36B | $31.23B | $31.69B | $30.12B | $28.91B | $30.56B | $29.95B | $29.71B |
| Cost of revenue | $12.72B | $11.63B | $11.22B | $10.72B | $10.14B | $10.48B | $9.42B | $9.15B | $9.07B | $9.29B |
| Gross profit | $23.64B | $21.91B | $21.15B | $20.51B | $21.54B | $19.63B | $19.49B | $21.40B | $20.89B | $20.42B |
| Research & development | $2.87B | $2.73B | $2.73B | $2.70B | $2.75B | $2.49B | $2.33B | $2.33B | $2.26B | $2.19B |
| Sales, general & admin | $11.78B | $10.85B | $10.74B | $10.41B | $10.29B | $10.15B | $9.88B | $10.23B | $9.95B | $10.02B |
| Total operating expenses | $17.18B | $15.95B | $16.00B | $15.02B | $15.79B | $15.15B | $14.70B | $15.13B | $14.25B | $15.03B |
| Operating income | $6.47B | $5.96B | $5.14B | $5.49B | $5.75B | $4.48B | $4.79B | $6.27B | $6.64B | $5.38B |
| Interest income | — | $612.0M | $721.0M | $164.0M | $541.0M | $617.0M | $379.0M | $676.0M | $397.0M | $366.0M |
| Interest expense | $715.0M | $729.0M | $719.0M | $636.0M | $553.0M | $925.0M | $1.09B | $1.44B | $1.15B | $1.09B |
| Income before taxes | $6.14B | $5.63B | $4.84B | $5.36B | $5.52B | $3.90B | $4.05B | $5.20B | $5.67B | $4.60B |
| Income taxes | $1.30B | $936.0M | $1.13B | $1.58B | $456.0M | $265.0M | −$751.0M | $547.0M | $2.58B | $578.0M |
| Net income | $4.80B | $4.66B | $3.68B | $3.76B | $5.04B | $3.61B | $4.79B | $4.63B | $3.10B | $4.03B |
| EBITDA | $9.81B | $9.22B | $8.20B | $8.70B | $8.78B | $7.52B | $7.81B | $9.30B | $9.46B | $8.61B |
| EPS (diluted) | $5.53 | $5.50 | $5.21 | $5.30 | $5.62 | $4.43 | $4.59 | $5.22 | $4.78 | $4.60 |
| Gross margin | 65.0% | 65.3% | 65.3% | 65.7% | 68.0% | 65.2% | 67.4% | 70.0% | 69.7% | 68.7% |
| Operating margin | 17.8% | 17.8% | 15.9% | 17.6% | 18.2% | 14.9% | 16.6% | 20.5% | 22.2% | 18.1% |
| Net margin | 13.2% | 13.9% | 11.4% | 12.0% | 15.9% | 12.0% | 16.6% | 15.2% | 10.4% | 13.6% |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.76B | $9.81B | $9.02B | $8.96B | $8.58B | $8.93B | $8.29B | $8.40B | $7.92B | $8.59B | $8.09B | $7.98B |
| Cost of revenue | $3.42B | $2.37B | $3.17B | $3.56B | $3.63B | $3.15B | $2.78B | $2.95B | $2.76B | $3.04B | $2.78B | $2.76B |
| Gross profit | $6.34B | $7.44B | $5.85B | $5.41B | $4.95B | $5.78B | $5.51B | $5.46B | $5.15B | $5.54B | $5.31B | $5.22B |
| Research & development | $771.0M | $671.0M | $722.0M | $754.0M | $726.0M | $684.0M | $675.0M | $697.0M | $676.0M | $675.0M | $695.0M | $698.0M |
| Sales, general & admin | $3.20B | $3.06B | $2.92B | $2.96B | $2.81B | $2.72B | $2.72B | $2.76B | $2.65B | $2.77B | $2.67B | $2.69B |
| Total operating expenses | $4.58B | $5.88B | $4.08B | $3.72B | $3.50B | $4.34B | $3.87B | $3.86B | $3.88B | $4.49B | $3.82B | $3.88B |
| Operating income | $1.76B | $1.56B | $1.77B | $1.69B | $1.45B | $1.44B | $1.65B | $1.59B | $1.28B | $1.05B | $1.48B | $1.34B |
| Interest income | — | — | $181.0M | $105.0M | $256.0M | $375.0M | $135.0M | $72.0M | — | — | — | — |
| Interest expense | $186.0M | $177.0M | $181.0M | $181.0M | $176.0M | $174.0M | $179.0M | $209.0M | $167.0M | $202.0M | $188.0M | $180.0M |
| Income before taxes | $1.77B | $1.83B | $1.40B | $1.60B | $1.30B | $1.26B | $1.54B | $1.56B | $1.27B | $856.0M | $1.47B | $1.31B |
| Income taxes | $289.0M | $575.0M | $254.0M | $215.0M | $255.0M | $199.0M | $237.0M | $281.0M | $220.0M | $197.0M | $135.0M | $402.0M |
| Net income | $1.47B | $1.24B | $1.14B | $1.37B | $1.04B | $1.06B | $1.29B | $1.27B | $1.04B | $654.0M | $1.32B | $909.0M |
| EBITDA | $2.68B | $2.64B | $2.33B | $2.52B | $2.23B | $2.27B | $2.40B | $2.44B | $2.10B | $1.71B | $2.31B | $2.17B |
| EPS (diluted) | $1.45 | $1.55 | $1.36 | $1.36 | $1.26 | $1.62 | $1.39 | $1.26 | $1.23 | $1.46 | $1.30 | $1.25 |
| Gross margin | 65.0% | 75.9% | 64.9% | 60.3% | 57.7% | 64.7% | 66.5% | 64.9% | 65.1% | 64.6% | 65.6% | 65.4% |
| Operating margin | 18.1% | 15.9% | 19.7% | 18.8% | 16.8% | 16.1% | 19.9% | 19.0% | 16.1% | 12.3% | 18.3% | 16.8% |
| Net margin | 15.1% | 12.7% | 12.7% | 15.3% | 12.1% | 11.8% | 15.6% | 15.1% | 13.2% | 7.6% | 16.3% | 11.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MDT's financial statements (latest annual report filed June 18, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MDT financial results
In fiscal year 2026 (ended April 30, 2026), Medtronic reported revenue of $36.4 billion, up 8.4% from the year before. It had net income of $4.8 billion (up 3.0%), a net profit margin of 13.2%. Diluted earnings per share came to $5.53. Over five years revenue grew at an average rate of 3.8% a year.
See the MDT stock overview for the latest quote and news, or the MDT chart for price history and technical indicators.
MDT income statement FAQ
What is Medtronic's annual revenue?
Medtronic reported total revenue of $36.4 billion for fiscal year 2026, which ended on April 30, 2026. That was up 8.4% from $33.5 billion the previous year.
Is Medtronic profitable?
Yes. Medtronic reported net income of $4.8 billion in fiscal 2026, a net profit margin of 13.2%; its operating margin was 17.8%.
What is Medtronic's gross margin?
Medtronic's gross margin was 65.0% in fiscal 2026: for every $100 of revenue, Medtronic kept $65 after the direct cost of its products and services.
How much does Medtronic spend on research and development?
Medtronic spent $2.9 billion on research and development in fiscal 2026, 7.9% of revenue.
How fast is Medtronic growing?
Revenue grew 3.8% a year on average over the last five fiscal years, from $30.1 billion to $36.4 billion.
What are Medtronic's earnings per share?
Medtronic earned $5.53 per diluted share in fiscal 2026, compared with $5.50 a year earlier.
When will Medtronic report its next earnings?
Medtronic is expected to report results for the quarter ending October 31, 2026 on November 17, 2026 before the market opens.
When does Medtronic's fiscal year end?
Medtronic's fiscal year ends in April. The latest annual report covers the year ended April 30, 2026 and was filed on June 18, 2026.