Operating Income
Operating Income
Medtronic Operating Income decreased by 13.2% to $1.46B in Q4 2025 compared to the prior quarter. Year-over-year, this metric declined by 11.1%, from $1.65B to $1.46B. Over 4 years (FY 2021 to FY 2025), Operating Income shows an upward trend with a 7.3% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
Analysis
StatementIncome Statement
SectionOperating Income
CategoryProfitability
SignalHigher is better
VolatilityModerate
First reportedQ1 2014
Last reportedQ3 2026Feb 24, 2026
How to read this metric
Higher operating income indicates strong operational efficiency and pricing power, while a decline suggests rising costs or weakening demand.
Detailed definition
Operating income is the profit realized from a company's core business operations after deducting all operating expenses...
Peer comparison
A standard benchmark for operational performance; peers are compared based on operating margin percentages.
Metric ID:
operating_incomeHistorical Data
20 periods
| Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $1.61B | $859.00M | $1.56B | $1.66B | $1.67B | $1.13B | $1.40B | $1.39B | $1.57B | $1.27B | $1.34B | $1.48B | $1.05B | $1.28B | $1.60B | $1.65B | $1.44B | $1.45B | $1.69B | $1.46B |
| QoQ Change | — | -46.5% | +82.0% | +6.1% | +0.7% | -32.7% | +24.8% | -0.9% | +12.4% | -19.0% | +5.7% | +10.7% | -29.0% | +21.4% | +24.8% | +3.2% | -12.8% | +0.6% | +16.7% | -13.2% |
| YoY Change | — | — | — | — | +4.1% | +31.0% | -10.2% | -16.1% | -6.3% | +12.7% | -4.6% | +6.5% | -32.7% | +0.8% | +19.0% | +11.0% | +36.4% | +13.1% | +5.7% | -11.1% |
Range$859.00M – $1.69B
CAGR-1.9%
Avg YoY Growth+3.7%
Median YoY Growth+4.9%
Business Segments
| Segment | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Diabetes | $90.00M | $24.00M | $33.00M | $50.00M | $383.00M | $26.00M | $53.00M | $57.00M |
| Other operating segment | — | — | — | — | — | $11.00M | $9.00M | -$1.00M |
| Cardiovascular | $1.18B | — | — | — | $2.41B | — | — | — |
| Medical Surgical | $838.00M | — | — | — | $1.55B | — | — | — |
| Neuroscience | $1.09B | — | — | — | $2.01B | — | — | — |
| Total | $1.05B | $1.28B | $1.60B | $1.65B | $1.44B | $1.45B | $1.69B | $1.46B |
Operating Income at Other Companies
Frequently Asked Questions
- What is Medtronic's operating income?
- Medtronic (MDT) reported operating income of $1.46B in Q4 2025.
- How has Medtronic's operating income changed year-over-year?
- Medtronic's operating income decreased by 11.1% year-over-year, from $1.65B to $1.46B.
- What is the long-term trend for Medtronic's operating income?
- Over 4 years (2021 to 2025), Medtronic's operating income has grown at a 7.3% compound annual growth rate (CAGR), from $4.49B to $5.96B.
- What does operating income mean?
- The profit a company makes from its core business operations before interest and taxes.