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Medtronic MDT Q1 2027 earnings

Reported September 1, 2026 · Before market open

Revenue$9.8BBeat by $210.2M
Adjusted EPS$1.86Beat by $0.47
Revenue estimate$9.5B
EPS estimate$1.39
“We are off to a strong start in fiscal 2027. What gives us confidence is not simply the strength of the quarter, but importantly, the breadth of performance across our businesses and the increasing contributions from newer growth platforms. Our execution, alongside our innovation engine, positions us to serve more patients and deliver durable growth. The strength of our portfolio and pipeline gives us confidence in the opportunities ahead.”
Geoff Martha

Next report

Nov 17, 2026 (in a month)
Revenue estimate$9.5B
EPS estimate$1.34

Financials

Q1 2027

Income statement

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Revenue$9.8B+13.7%
Gross profit$6.3B+13.7%
Operating income$1.8B+22.1%
Net income$1.5B+41.3%
EPS (diluted)$1.14+40.7%

Balance sheet

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Cash & equivalents$1.7B+32.8%
Total debt$28.2B-1.6%
Total equity$50.2B+4.9%
Total assets$93.3B+2.6%

Cash flow

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Operating cash flow$1.8B+64.8%
CapEx$503.0M-0.2%
Free cash flow$1.3B+121%

Valuation & ratios

Valuation

as of 10/09/26
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Market cap$112.24B-9.3%
Enterprise value$138.76B-8.2%
P/E21.5×-5.1×
P/S3×-0.6×

Profitability

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Gross margin65%-0.3pp
Operating margin18.1%+0.2pp
Net margin13.9%+0.3pp
FCF margin16.3%+0.8pp

Returns & leverage

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Return on equity10.7%+0.9pp
Debt / equity0.6×0.0×
Current ratio2.1×+0.1×

Segments

By segment

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Cardiovascular$3.9B+19.5%
Neuroscience$2.7B+10.3%
Medical Surgical$2.3B+9.9%
Diabetes$843.0M+16.9%
Other operating segment, misc$29.0M—

FAQ

When did Medtronic report Q1 2027 earnings?
Medtronic (MDT) reported Q1 2027 earnings on September 1, 2026 before market open.
What were Medtronic's Q1 2027 revenue and EPS?
Medtronic reported revenue of $9.8B and adjusted eps of $1.86 for Q1 2027.
Did Medtronic beat estimates in Q1 2027?
Revenue beat the consensus estimate of $9.5B by $210.2M. EPS beat the consensus estimate of $1.39 by $0.47.
How did Medtronic's Q1 2027 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 13.7% from $8.6B a year earlier.
Where can I find Medtronic's Q1 2027 SEC filings?
You can read the 8-K earnings release (0001628280-26-059697) and the 10-Q periodic report (0001628280-26-060473) directly on SEC EDGAR. The filing index links above go to sec.gov.