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Medtronic MDT Q1 2026 earnings

Reported August 19, 2025 · Before market open

Revenue$8.6BBeat by $199.4M
EPS$1.26Beat by $0.03
Revenue estimate$8.4B
EPS estimate$1.23

Next report

Sep 1, 2026 (In 4 days)
Revenue estimate$9.5B
EPS estimate$1.39

Financials

Q1 2026

Income statement

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Revenue$8.6B+8.4%
Gross profit$5.6B+8.2%
Operating income$1.4B+13.1%
Net income$1.0B-0.2%
EPS (diluted)$0.81+1.3%

Balance sheet

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Cash & equivalents$1.3B-2.9%
Total debt$28.7B+2.7%
Total equity$47.9B-0.1%
Total assets$91.0B+1.4%

Cash flow

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Operating cash flow$1.1B+10.3%
CapEx$504.0M-3.1%
Free cash flow$584.0M+25.3%

Valuation & ratios

Valuation

as of 07/25/25
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Market cap$115.62B+8.9%
Enterprise value$143.01B+7.7%
P/E24.8×-2.2×
P/S3.4×+0.1×

Profitability

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Gross margin65.3%+0.1pp
Operating margin17.9%+2.1pp
Net margin13.6%+1.6pp
FCF margin15.5%-0.3pp

Returns & leverage

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Return on equity9.7%+1.8pp
Debt / equity0.6×0.0×
Current ratio2×-0.1×

Segments

By segment

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Cardiovascular$3.3B+9.2%
Neuroscience$2.4B+4.3%
Medical Surgical$2.1B+4.4%
Diabetes$721.0M+11.4%
Other operating segment$33.0M-13.2%

FAQ

When did Medtronic report Q1 2026 earnings?
Medtronic (MDT) reported Q1 2026 earnings on August 19, 2025 before market open.
What were Medtronic's Q1 2026 revenue and EPS?
Medtronic reported revenue of $8.6B and eps of $1.26 for Q1 2026.
Did Medtronic beat estimates in Q1 2026?
Revenue beat the consensus estimate of $8.4B by $199.4M. EPS beat the consensus estimate of $1.23 by $0.03.
How did Medtronic's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 8.4% from $7.9B a year earlier and eps grew 2.4% from $1.23.
Where can I find Medtronic's Q1 2026 SEC filings?
You can read the 8-K earnings release (0001613103-25-000141) and the 10-Q periodic report (0001613103-25-000161) directly on SEC EDGAR. The filing index links above go to sec.gov.