What is Medline, Inc. 's R&D?

Medline, Inc. (MDLN) reported R&D of $20M in Q4 2025.

How has Medline, Inc. 's R&D changed year-over-year?

Medline, Inc. 's R&D increased by 19.4% year-over-year, from $16.75M to $20M.

What is the long-term trend for Medline, Inc. 's R&D?

Over 2 years (2023 to 2025), Medline, Inc. 's R&D has grown at a 15.5% compound annual growth rate (CAGR), from $60M to $80M.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

Medline, Inc. MDLN R&D

R&D at other companies

Baxter InternationalBAX

$139M-0.7%

Becton, Dickinson and CompanyBDX

$249M+7.3%

SolventumSOLV

$189M-2.1%

StrykerSYK

$413M+2.0%

Merit Medical SystemsMMSI

$22.61M+0.6%

UFP TechnologiesUFPT

$2.15M-17.3%

Other financials

Income statement

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Revenue$7.4B+10.7%

Gross profit$1.8B+0.9%

Operating income$422.0M-26.1%

Net income$239.0M-25.1%

EPS (diluted)$0.16—

Balance sheet

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Cash & equivalents$2.2B+166%

Total debt$12.6B—

Total equity$11.3B—

Total assets$39.0B—

Cash flow

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Operating cash flow$412.0M-39.6%

CapEx$96.0M-2.0%

Free cash flow$316.0M-45.9%

Valuation

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Market cap$34.26B+10.2%

Enterprise value$44.58B—

P/E40.7×—

P/S1.3×—

Profitability

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Gross margin27.4%+1.5pp

Operating margin8.5%+2.3pp

Net margin4.6%+2.7pp

FCF margin6.4%+0.5pp

Returns & leverage

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Return on equity7.7%—

Debt / equity1.1×—

Current ratio4.4×—

Where this comes from

Reported directly by Medline, Inc. in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The official record: Medline, Inc. ’s 10-K, filed February 25, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Medline, Inc. 's R&D?: Medline, Inc. (MDLN) reported R&D of $20M in Q4 2025.
How has Medline, Inc. 's R&D changed year-over-year?: Medline, Inc. 's R&D increased by 19.4% year-over-year, from $16.75M to $20M.
What is the long-term trend for Medline, Inc. 's R&D?: Over 2 years (2023 to 2025), Medline, Inc. 's R&D has grown at a 15.5% compound annual growth rate (CAGR), from $60M to $80M.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.