MDT (Medtronic plc) Stock Financials & Earnings | Market Cap Arena

MDT (Medtronic plc) Stock Financials & Earnings | Market Cap Arena

MDTMedtronic plc

Mkt Cap$116B

Healthcare·Medical - Devices·🇮🇪 Ireland·NYSE

Revenue (TTM)$35.5B

Net Income (TTM)$4.6B

EPS (TTM)$3.59

Free Cash Flow (TTM)$5.4B

Gross Margin61.9%

Op. Margin17.9%

Net Margin13.0%

FCF Margin15.2%

P/S Ratio (TTM)3.3x

P/E Ratio (TTM)25.2x

YoY Rev Growth+6.9%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q4 23	$8.5B	$5.6B	$1.6B
Q1 24	$7.7B	$5.1B	$1.3B
Q2 24	$8.0B	$5.2B	$1.3B
Q3 24	$8.1B	$5.3B	$1.5B
Q4 24	$8.6B	$5.5B	$1.1B
Q1 25	$7.9B	$5.2B	$1.3B
Q2 25	$8.4B	$5.5B	$1.6B
Q3 25	$8.3B	$5.5B	$1.6B
Q4 25	$8.9B	$5.8B	$1.4B
Q1 26	$8.6B	$4.9B	$1.4B
Q2 26	$9.0B	$5.4B	$1.7B
Q3 26	$9.0B	$5.9B	$1.8B

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q4 23	3.7x	30.9x
Q1 24	3.7x	32.1x
Q2 24	3.6x	28.3x
Q3 24	3.6x	27.6x
Q4 24	3.6x	31.6x
Q1 25	3.6x	29.6x
Q2 25	3.5x	27.1x
Q3 25	3.5x	27.2x
Q4 25	3.5x	24.9x
Q1 26	3.4x	24.9x
Q2 26	3.3x	24.4x
Q3 26	3.3x	25.2x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 23	$2.5B	$2.1B
Q1 24	$875M	$521M
Q2 24	$661M	$200M
Q3 24	$2.5B	$2.1B
Q4 24	$2.8B	$2.4B
Q1 25	$986M	$466M
Q2 25	$958M	$554M
Q3 25	$2.6B	$2.1B
Q4 25	$2.5B	$2.1B
Q1 26	$1.1B	$584M
Q2 26	$925M	$457M
Q3 26	$2.7B	$2.3B

Capital Expenditures

CapEx

Quarter	CapEx
Q4 23	$378M
Q1 24	$354M
Q2 24	$461M
Q3 24	$346M
Q4 24	$426M
Q1 25	$520M
Q2 25	$404M
Q3 25	$476M
Q4 25	$459M
Q1 26	$504M
Q2 26	$468M
Q3 26	$444M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 23	+5.6%	+8.7%
Q1 24	+4.5%	+3.0%
Q2 24	+5.3%	+7.5%
Q3 24	+4.7%	+4.3%
Q4 24	+0.5%	+8.0%
Q1 25	+2.8%	+3.2%
Q2 25	+5.2%	+2.5%
Q3 25	+2.5%	+0.6%
Q4 25	+3.9%	-0.6%
Q1 26	+8.4%	+7.5%
Q2 26	+6.6%	+6.9%
Q3 26	+8.8%	+9.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 23	$75M	0.9%
Q1 24	$73M	0.9%
Q2 24	$146M	1.8%
Q3 24	$84M	1.0%
Q4 24	$90M	1.0%
Q1 25	$83M	1.0%
Q2 25	$159M	1.9%
Q3 25	$98M	1.2%
Q4 25	$89M	1.0%
Q1 26	$86M	1.0%
Q2 26	$182M	2.0%
Q3 26	$94M	1.0%

OpEx Breakdown

Quarter	R&D	SG&A
Q4 23	$639M	$2.6B
Q1 24	$668M	$2.6B
Q2 24	$698M	$2.7B
Q3 24	$695M	$2.7B
Q4 24	$675M	$2.8B
Q1 25	$676M	$2.7B
Q2 25	$697M	$2.8B
Q3 25	$675M	$2.7B
Q4 25	$684M	$2.7B
Q1 26	$726M	$2.8B
Q2 26	$754M	$3.0B
Q3 26	$722M	$3.0B

Revenue Segments

Quarter	Cardiovascular	Diabetes Group	Medical Surgical	Neuroscience Group	Other	Cardiac and Vascular Group
Q1 24	$2.9B	$578M	$2.0B	$2.2B	$16M	—
Q2 24	$2.9B	$963M	$2.1B	$2.3B	$22M	—
Q3 24	—	$640M	$2.1B	$2.4B	—	$2.9B
Q1 25	—	$647M	$2.0B	$2.3B	—	$3.0B
Q2 25	—	$686M	$2.1B	$2.5B	—	$3.1B
Q3 25	—	$694M	$2.1B	$2.5B	—	$3.0B
Q1 26	—	$721M	$2.1B	$2.4B	—	$3.3B
Q3 26	—	$796M	$2.2B	$2.6B	—	$3.5B

Revenue by Geography

Quarter	Ireland	Total Other Countries, Excluding United States and Ireland	United States
Q1 24	$29M	$3.7B	$3.9B
Q2 24	$29M	$3.8B	$4.2B
Q3 24	$27M	$3.9B	$4.1B
Q1 25	$30M	$3.8B	$4.1B
Q2 25	$29M	$4.1B	$4.3B
Q3 25	$28M	$4.0B	$4.2B

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 23	$1.5B	$6.4B	$8.0B
Q1 24	$1.3B	$6.5B	$7.9B
Q2 24	$1.3B	$6.4B	$7.7B
Q3 24	$1.6B	$6.7B	$8.3B
Q4 24	$1.3B	$6.7B	$8.0B
Q1 25	$1.3B	$6.5B	$7.8B
Q2 25	$1.4B	$6.6B	$8.0B
Q3 25	$1.2B	$6.7B	$7.9B
Q4 25	$2.2B	$6.7B	$9.0B
Q1 26	$1.3B	$6.8B	$8.1B
Q2 26	$1.3B	$7.0B	$8.3B
Q3 26	$1.1B	$7.2B	$8.4B

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q4 23	1.33B	+0.1%
Q1 24	1.33B	+0.1%
Q2 24	1.33B	-0.1%
Q3 24	1.33B	-0.0%
Q4 24	1.33B	-0.5%
Q1 25	1.30B	-2.2%
Q2 25	1.29B	-0.7%
Q3 25	1.29B	-0.1%
Q4 25	1.29B	+0.1%
Q1 26	1.29B	-0.0%
Q2 26	1.29B	+0.0%
Q3 26	1.29B	+0.1%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	—	—
FY 15	$220K	92K
FY 16	$328K	88K
FY 17	$326K	91K
FY 18	$348K	86K
FY 19	$340K	90K
FY 20	$321K	90K
FY 21	$335K	90K
FY 22	$932K	34K
FY 23	$329K	95K
FY 24	$925K	35K
FY 25	$353K	95K