Medline Inc. (MDLN) Key Metrics
MDLN valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $48.38B
- Enterprise value
- $40.06B
- P/E (TTM)
- 89.9
- Forward P/E
- 20.9
- PEG ratio
- —
- Price / sales
- 1.6
- Price / book
- 2.6
- EV / EBITDA
- 14.6
- Dividend yield
- —
- Beta
- —
MDLN key metrics, 2022–2025
Fiscal year ended December 31, 2025 · U.S. dollarsMDLN returns How much profit the business earns on the capital it uses.
MDLN per-share figures Results divided by the shares outstanding at year-end.
MDLN financial health Debt, liquidity and how easily interest is covered.
MDLN efficiency & capital use Working capital cycle and where the cash goes.
MDLN valuation history
MDLN returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
MDLN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
MDLN cash returned to shareholders
MDLN price vs earnings per share
MDLN key metrics
2022–2025| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Valuation | ||||
| Market capitalization | $34.10B | — | — | — |
| Enterprise value | $44.73B | — | — | — |
| P/E ratio | 29.4 | — | — | — |
| Price / sales | 1.2 | — | — | — |
| Price / book | 3.2 | — | — | — |
| Price / free cash flow | 26.3 | — | — | — |
| Price / operating cash flow | 19.6 | — | — | — |
| EV / sales | 1.6 | — | — | — |
| EV / EBITDA | 19.8 | — | — | — |
| EV / free cash flow | 34.5 | — | — | — |
| Earnings yield | 3.4% | — | — | — |
| Free cash flow yield | 3.8% | — | — | — |
| Dividend yield | 1.5% | — | — | — |
| Shareholder yield (dividends + buybacks) | 7.4% | — | — | — |
| Share price at fiscal year-end | $42.00 | — | — | — |
| Per share | ||||
| Revenue per share | $35.01 | $32.41 | $29.51 | $27.25 |
| Earnings per share | $1.43 | $1.52 | $0.30 | −$0.03 |
| Operating cash flow per share | $2.15 | $2.25 | $2.14 | $0.24 |
| Free cash flow per share | $1.60 | $1.78 | $1.78 | −$0.09 |
| Cash per share | $2.39 | $0.32 | $2.01 | — |
| Book value per share | $13.22 | $20.99 | $21.57 | — |
| Tangible book value per share | −$13.84 | −$7.75 | −$6.79 | — |
| Dividends per share | $0.64 | — | $0.14 | — |
| Capex per share | $0.55 | $0.46 | $0.36 | $0.32 |
| Debt per share | $15.47 | $21.47 | $21.38 | — |
| Shares outstanding | 812.0M | 787.1M | 787.1M | 787.1M |
| Change in shares outstanding | +3.2% | 0.0% | 0.0% | — |
| Returns & profitability | ||||
| Return on equity (ROE) | 8.5% | 7.2% | 1.4% | — |
| Return on invested capital (ROIC) | 7.5% | 6.6% | 4.0% | — |
| Return on assets (ROA) | 3.1% | 3.3% | 0.6% | — |
| Return on tangible assets | 7.0% | 9.0% | 1.7% | — |
| Free cash flow margin | 4.6% | 5.5% | 6.0% | −0.3% |
| Income quality (OCF / net income) | 1.50 | 1.47 | 7.20 | — |
| Financial health | ||||
| Total debt | $12.56B | $16.90B | $16.83B | — |
| Cash & short-term investments | $1.94B | $250.0M | $1.58B | — |
| Net debt | $10.62B | $16.65B | $15.24B | — |
| Debt / equity | 1.17 | 1.02 | 0.99 | — |
| Debt / assets | 0.33 | 0.47 | 0.47 | — |
| Net debt / EBITDA | 4.70 | 4.71 | 5.89 | — |
| Current ratio | 4.29 | 3.39 | 4.13 | — |
| Quick ratio | 2.37 | 1.56 | 2.34 | — |
| Interest coverage | 2.7 | 1.7 | 1.1 | 1.0 |
| Working capital | $8.19B | $5.83B | $6.68B | — |
| Invested capital | $21.36B | $33.17B | $32.22B | — |
| Tangible asset value | −$2.69B | −$6.10B | −$5.34B | — |
| Net current asset value | −$8.52B | −$11.18B | −$10.34B | — |
| Graham number | $20.61 | $26.83 | $12.01 | — |
| Graham net-net per share | −$15.06 | −$18.50 | −$17.07 | — |
| Capital allocation | ||||
| Dividends paid | $518.0M | — | $114.0M | — |
| Share buybacks (net) | $2.00B | $20.0M | — | — |
| Dividend payout ratio | 44.7% | — | 48.7% | — |
| Dividends + buybacks / free cash flow | 194.4% | 1.4% | 8.1% | — |
| Capex / revenue | 1.6% | 1.4% | 1.2% | 1.2% |
| Capex / operating cash flow | 25.6% | 20.6% | 16.9% | 135.8% |
| Capex / depreciation | 0.44 | 0.37 | 0.30 | 0.27 |
| Stock-based compensation / revenue | 0.3% | — | — | — |
| R&D / revenue | — | 0.3% | 0.3% | 0.3% |
| SG&A / revenue | 15.9% | — | — | — |
| Efficiency | ||||
| Days sales outstanding | 43.3 | 44.2 | 46.5 | — |
| Days of inventory on hand | 80.5 | 78.5 | 77.3 | — |
| Days payables outstanding | 16.0 | 14.9 | 14.1 | — |
| Cash conversion cycle (days) | 107.9 | 107.9 | 109.7 | — |
| Receivables turnover | 8.42 | 8.26 | 7.85 | — |
| Payables turnover | 22.86 | 24.56 | 25.87 | — |
| Inventory turnover | 4.53 | 4.65 | 4.72 | — |
| Asset turnover | 0.76 | 0.71 | 0.64 | — |
| Average receivables | $3.38B | $3.09B | $2.96B | — |
| Average payables | $915.0M | $782.5M | $696.0M | — |
| Average inventory | $4.61B | $4.13B | $3.81B | — |
| Intangibles / total assets | 57.1% | 62.9% | 61.8% | — |
Computed from MDLN's annual financial statements (latest annual report filed December 31, 2025) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
MDLN valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Medline traded at 29.4 times earnings. Based on the latest twelve months, the trailing P/E is 89.9 and the forward P/E is 20.9. Medline earned a return on equity of 8.5% and a return on invested capital of 7.5% in fiscal 2025. It ended the year with $12.6 billion of debt and $1.9 billion in cash and short-term investments, net debt of $10.6 billion. It returned $2.5 billion to shareholders: $518.0 million in dividends and $2.0 billion in share buybacks, 194% of free cash flow.
See the MDLN income statement, the MDLN chart for price history, or the MDLN stock overview for the latest quote and news.
MDLN key metrics FAQ
What is Medline's P/E ratio?
Medline's trailing P/E ratio is 89.9 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 20.9. At the end of fiscal 2025 it was 29.4.
What is Medline's EV/EBITDA?
Medline's enterprise value was 19.8 times EBITDA at the end of fiscal 2025 (enterprise value $44.7 billion, EBITDA $2.3 billion); the current EV/EBITDA is 14.6.
What is Medline's return on equity?
Medline's return on equity (ROE) was 8.5% in fiscal 2025: net income of $1.2 billion on average shareholders' equity of $13.6 billion.
What is Medline's ROIC?
Medline's return on invested capital was 7.5% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Medline have?
Medline had total debt of $12.6 billion at the end of fiscal 2025, a debt-to-equity ratio of 1.17 and $10.6 billion of net debt (4.70 times EBITDA).
What is Medline's dividend yield?
Medline paid $518.0 million in dividends in fiscal 2025 ($0.64 per share), a payout ratio of 44.7%.
Does Medline buy back its shares?
Yes. Medline spent $2.0 billion on net share repurchases in fiscal 2025 Shares outstanding changed +3.2% over the year, to 812.0M..
What is Medline's free cash flow yield?
Medline generated $1.3 billion of free cash flow in fiscal 2025, a free cash flow yield of 3.8% on its market value at year-end ($34.1 billion).
What is Medline's current ratio?
Medline's current ratio was 4.29 at the end of fiscal 2025: current assets were 4.29 times current liabilities.