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Medtronic PLC Income Statement 2026-2011 | MDT
Brief overview of revenue and earnings at Medtronic PLC
The figures are compared over a five-year interval. Revenue at Medtronic PLC moved from $30.1 billion in 2021 to $36.4 billion in 2026. The five-year change reached +20.7%, while CAGR stood at 3.8%. The business did not achieve meaningful top-line expansion.
The five-year change in gross profit reached +20.4%: from $19.6 billion to $23.6 billion. Cost of revenue moved broadly in line with sales. Comparing the endpoints gives gross margins of 65.2% and 65%. The economics of the core business remained steady.
The operating result measured by EBITDA moved from $7.2 billion to $9.4 billion, or +31.2%. EBITDA grew faster than revenue, indicating positive operating leverage. EBITDA margin was 23.9% at the start and 25.9% at the end. The company improved its ability to convert sales into EBITDA.
The five-year change in net income was +33.1%: from $3.6 billion to $4.8 billion. The final result improved faster than the scale of the business.
The market value of the business moved from $138 billion to $102 billion, or −26.5%. Financial performance is stronger than the share-price trend.
Financial takeaway
Positive developments coexist with areas of weakness. The financial profile benefits from improving net profitability, consistent sales economics and positive operating leverage. The overall view is constrained by declining capitalization and limited revenue growth. Future reports should be judged by revenue momentum, margins, and the conversion of sales into net income.
Annual Income Statement Medtronic PLC
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
102 B | 111 B | 115 B | 116 B | 117 B | 138 B | 127 B | 126 B | 118 B | 118 B | 116 B | 86.3 B | 53.2 B | 45.3 B | 32.8 B | 35.6 B |
Shares |
1.28 B | 1.29 B | 1.33 B | 1.33 B | 1.34 B | 1.34 B | 1.34 B | 1.36 B | 1.37 B | 1.39 B | 1.43 B | 1.11 B | 1.01 B | 1.03 B | 1.06 B | 1.08 B |
Historical Prices |
79.3 | 86.3 | 86.3 | 87.4 | 87.4 | 103 | 108 | 110 | 82.3 | 78.2 | 67.7 | 66.3 | 61.2 | 47.6 | 38.3 | 30.9 |
Net Income |
4.8 B | 4.66 B | 3.68 B | 3.76 B | 5.04 B | 3.61 B | 4.79 B | 4.63 B | 3.1 B | 4.03 B | 3.54 B | 2.68 B | 3.06 B | 3.47 B | 3.62 B | 3.1 B |
Revenue |
36.4 B | 33.5 B | 32.4 B | 31.2 B | 31.7 B | 30.1 B | 28.9 B | 30.6 B | 30 B | 29.7 B | 28.8 B | 20.3 B | 17 B | 16.6 B | 16.2 B | 15.9 B |
Cost of Revenue |
12.7 B | 11.6 B | 11.2 B | 10.7 B | 10.1 B | 10.5 B | 9.42 B | 9.16 B | 9.07 B | 9.29 B | 9.14 B | 6.31 B | 4.33 B | 4.13 B | - | - |
Gross Profit |
- | - | - | - | - | - | 19.6 B | 21.5 B | 20.9 B | 20.4 B | 19.7 B | 14 B | 12.7 B | 12.5 B | 12.3 B | 12 B |
Operating Income |
6.47 B | 5.96 B | 5.14 B | 5.48 B | 5.75 B | 4.48 B | 4.79 B | 6.27 B | 6.64 B | 5.38 B | 5.36 B | 3.77 B | 3.81 B | 4.4 B | - | - |
Interest Expense |
384 M | 402 M | 412 M | 636 M | 553 M | 925 M | 1.09 B | 1.44 B | 1.15 B | 1.09 B | 1.39 B | 666 M | 379 M | 388 M | - | - |
EBITDA |
9.42 B | 8.82 B | 7.79 B | 8.18 B | 8.46 B | 7.19 B | 7.04 B | 8.44 B | 9.25 B | 8.3 B | 8.18 B | 5.28 B | 5.17 B | 5.1 B | 5.18 B | 5.32 B |
Operating Expenses |
- | - | - | - | - | - | 15.3 B | 15.7 B | 14.3 B | 15.1 B | 14.3 B | 9.98 B | 7.85 B | 7.69 B | 7.45 B | 7.5 B |
General and Administrative Expenses |
11.8 B | 10.8 B | 10.7 B | 10.4 B | 10.3 B | 10.1 B | 9.88 B | 10.2 B | 9.95 B | 10 B | 9.47 B | 6.9 B | - | - | - | - |
All numbers in USD currency
Quarterly Income Statement Medtronic PLC
| 2026-Q3 | 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
1.28 B | 1.28 B | 1.28 B | 1.28 B | 1.28 B | 1.28 B | 1.28 B | 1.28 B | 1.28 B | 1.29 B | 1.31 B | 1.33 B | 1.33 B | 1.33 B | 1.33 B | 1.33 B | 1.33 B | 1.33 B | 1.33 B | 1.35 B | 1.35 B | 1.34 B | 1.35 B | 1.34 B | 1.34 B | 1.34 B | 1.34 B | 1.34 B | 1.34 B | 1.34 B | 1.34 B | 1.35 B | 1.35 B | 1.35 B | 1.35 B | 1.37 B | 1.36 B | 1.36 B | 1.36 B | 1.41 B | 1.38 B | 1.38 B | 1.39 B | 984 M | 1.41 B | 1.41 B | 1.42 B | - | 982 M | 993 M | 999 M | - | - | - | - | - | - | - | - | - | - | - | - |
Net Income |
1.14 B | 1.37 B | 1.04 B | 1.14 B | 1.37 B | 1.04 B | - | 1.29 B | 1.27 B | 1.04 B | - | 1.32 B | 909 M | 791 M | - | 1.22 B | 427 M | 929 M | - | 1.27 B | 1.31 B | 2.07 B | 769 M | 1.92 B | 489 M | 489 M | 487 M | 1.27 B | 1.36 B | 1.36 B | 864 M | -1.39 B | 1.12 B | 1.12 B | 1.08 B | 821 M | 2.02 B | 2.02 B | 1.02 B | 1.1 B | 1.12 B | 1.12 B | 929 M | 977 M | 520 M | 520 M | 820 M | 762 M | 828 M | 871 M | 448 M | - | 902 M | 953 M | - | - | - | - | - | - | - | - | - |
Revenue |
9.02 B | 8.96 B | 8.58 B | 9.02 B | 8.96 B | 8.58 B | - | 8.29 B | 8.4 B | 7.92 B | - | 8.09 B | 7.98 B | 7.7 B | - | 7.73 B | 7.58 B | 7.37 B | 1.33 B | 7.76 B | 1.32 B | 769 M | - | 7.72 B | 7.65 B | 7.65 B | 6.51 B | 7.55 B | 7.71 B | 7.71 B | 7.49 B | 7.37 B | 7.48 B | 7.48 B | 8.14 B | 7.28 B | 7.05 B | 7.05 B | 7.39 B | 6.93 B | 7.34 B | 7.34 B | 7.17 B | 4.32 B | 7.06 B | 7.06 B | 7.27 B | 4.16 B | 4.37 B | 4.27 B | 4.57 B | - | 4.19 B | 4.08 B | - | - | - | - | - | - | - | - | - |
Cost of Revenue |
3.26 B | 3.06 B | 3 B | 3.26 B | 3.06 B | 3 B | - | 2.78 B | 2.95 B | 2.76 B | - | 2.78 B | 2.76 B | 2.63 B | - | 2.69 B | 2.54 B | 2.52 B | - | 2.62 B | 2.5 B | 5.1 B | - | 2.4 B | 2.7 B | 2.7 B | 2.5 B | 2.26 B | 2.39 B | 2.39 B | 2.37 B | 2.19 B | 2.2 B | 2.2 B | 2.2 B | 2.27 B | 2.12 B | 2.12 B | 2.35 B | 2.14 B | 2.33 B | 2.33 B | 2.26 B | 1.13 B | 2.18 B | 2.18 B | 2.46 B | - | 1.14 B | 1.1 B | - | - | - | - | - | - | - | - | - | - | - | - | - |
Gross Profit |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 5.32 B | - | - | 3.73 B | 5.28 B | 5.31 B | 5.13 B | 5.66 B | 5.18 B | 5.28 B | 5.18 B | 5.75 B | 5.02 B | 4.93 B | 5.04 B | 5.48 B | 4.79 B | 5.02 B | 4.9 B | 5.2 B | 3.19 B | 4.88 B | 4.82 B | 4.37 B | 3.11 B | 3.22 B | 3.17 B | 3.4 B | - | 3.1 B | 3.06 B | - | - | - | - | - | - | - | - | - |
Operating Income |
1.46 B | 1.69 B | 1.44 B | 1.46 B | 1.69 B | 1.44 B | - | 1.65 B | 1.6 B | 1.28 B | - | 1.48 B | 1.34 B | 1.27 B | - | 1.39 B | 1.4 B | 1.12 B | - | 1.28 B | 1.56 B | 2.42 B | - | 1.64 B | 930 M | 930 M | 673 M | 1.54 B | 1.35 B | 1.35 B | 1.48 B | 1.44 B | 1.54 B | 1.54 B | 1.24 B | 1.15 B | 1.89 B | 1.9 B | 1.39 B | 1.36 B | 1.38 B | 1.38 B | 1.17 B | 1.28 B | 1.3 B | 1.3 B | 1.13 B | - | 1.03 B | 1.09 B | - | - | - | - | - | - | - | - | - | - | - | - | - |
Interest Expense |
121 M | 92 M | 33 M | 121 M | 92 M | 33 M | - | 72 M | 173 M | 157 M | - | 177 M | 154 M | 76 M | - | 167 M | 118 M | 164 M | - | 143 M | 136 M | 273 M | - | 156 M | 470 M | 470 M | 171 M | 243 M | 165 M | 165 M | 609 M | 270 M | 241 M | 241 M | 242 M | 268 M | 273 M | 273 M | 286 M | 275 M | 264 M | 264 M | 272 M | 176 M | 324 M | 324 M | 306 M | - | 94 M | 97 M | - | - | - | - | - | - | - | - | - | - | - | - | - |
EBITDA |
3.71 B | 3.18 B | 2.19 B | 1.77 B | 1.97 B | 2.19 B | - | 1.91 B | 1.86 B | 1.94 B | - | 1.9 B | 1.76 B | 1.94 B | - | 1.82 B | 1.82 B | 1.79 B | - | 1.73 B | 1.99 B | 3.77 B | - | 2.08 B | 2.92 B | 2.27 B | 1.34 B | 1.98 B | 3.34 B | 2.68 B | 2.14 B | 1.9 B | 3.52 B | 2.86 B | 1.9 B | 1.64 B | 4.09 B | 3.22 B | 2.02 B | 1.84 B | 3.5 B | 2.85 B | 1.9 B | 1.36 B | 1.93 B | 2.7 B | 1.83 B | - | 1.12 B | 1.3 B | - | - | - | - | - | - | - | - | - | - | - | - | - |
Operating Expenses |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 37.1 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
General and Administrative Expenses |
2.96 B | 2.96 B | 2.81 B | 2.96 B | 2.96 B | 2.81 B | - | 2.72 B | 2.76 B | 2.66 B | - | 2.67 B | 2.69 B | 2.61 B | - | 2.62 B | 2.62 B | 2.57 B | - | 2.54 B | 2.62 B | 5.16 B | - | 2.59 B | 2.6 B | 2.6 B | 2.42 B | 2.6 B | 2.62 B | 2.62 B | 2.54 B | 2.52 B | 2.6 B | 2.6 B | 2.6 B | 2.39 B | 2.54 B | 2.44 B | 2.48 B | 2.32 B | 2.42 B | 2.42 B | 2.43 B | 1.49 B | 2.34 B | 2.34 B | 2.45 B | - | 1.51 B | 1.51 B | - | - | - | - | - | - | - | - | - | - | - | - | - |
All numbers in USD currency
The income statement is one of the three key financial reports of a company Medtronic PLC (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
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