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Medline, Inc. MDLN Tax Reconciliation: Nondeductible Expenses

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$33.35B+17.5%
Enterprise value$43.67B
P/E39.6×
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×

Questions, answered.

What does tax reconciliation: nondeductible expenses mean?
Captures the tax impact of business expenses that are disallowed for tax purposes, such as certain meals, entertainment, or lobbying costs. These expenses increase the effective tax rate because they are recorded for accounting purposes but not for tax reporting.