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Medtronic MDT Q3 2025 earnings

Reported February 18, 2025 · Before market open

Revenue estimate$8.3B
EPS estimate$1.36

Next report

Aug 18, 2026 (in 2 months)
Revenue estimate$9.6B
EPS estimate$1.39

Financials

Q3 2025

Income statement

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Revenue$8.3B+2.5%
Gross profit$5.5B+3.9%
Operating income$1.6B+11.0%
Net income$1.3B-2.1%
EPS (diluted)$1.01+2.0%

Balance sheet

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Cash & equivalents$1.2B-23.6%
Total debt$26.7B+5.6%
Total equity$49.4B-4.6%
Total assets$90.0B-1.0%

Cash flow

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Operating cash flow$2.6B+4.0%
CapEx$476.0M+37.6%
Free cash flow$2.1B-1.5%

Valuation & ratios

Valuation

as of 01/24/25
See full
Market cap$116.46B0.0%
Enterprise value$141.87B+1.3%
P/E27.3×-0.4×
P/S3.5×-0.1×

Profitability

See full
Gross margin65.3%-0.2pp
Operating margin16.8%-0.7pp
Net margin12.8%-0.2pp
FCF margin16.5%+1.2pp

Returns & leverage

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Return on equity8.4%+0.3pp
Debt / equity0.5×+0.1×
Current ratio1.9×-0.4×

Segments

By segment

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Cardiovascular$3.0B+3.7%
Neuroscience$2.5B+4.4%
Medical Surgical$2.1B-1.9%
Diabetes$694.0M+8.4%
Other Operating Segments$34.3M

By geography

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United States$4.2B
Ireland$28.0M

Versus estimates

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Questions, answered.

When did Medtronic report Q3 2025 earnings?
Medtronic (MDT) reported Q3 2025 earnings on February 18, 2025 before market open.
What were Medtronic's Q3 2025 revenue and EPS?
Medtronic reported revenue of $8.3B and diluted EPS of $1.39 for Q3 2025.
Did Medtronic beat estimates in Q3 2025?
Revenue missed the consensus estimate of $8.3B by $35.4M. EPS beat the consensus estimate of $1.36 by $0.03.
Where can I find Medtronic's Q3 2025 SEC filings?
You can read the 10-Q periodic report (0001613103-25-000022) directly on SEC EDGAR. The filing index links above go to sec.gov.