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Medtronic MDT Q3 2026 earnings

Reported February 17, 2026 · Before market open

Revenue$9.0BBeat by $106.1MDiluted EPS$1.36Beat by $0.02
Revenue estimate$8.9B
EPS estimate$1.34

Next report

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

Financials

Q3 2026

Income statement

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Revenue$9.0B+8.7%
Gross profit$5.8B+4.4%
Operating income$1.5B-11.1%
Net income$1.1B-11.7%
EPS (diluted)$0.89-11.9%

Balance sheet

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Cash & equivalents$1.1B-7.5%
Total debt$28.1B+5.5%
Total equity$49.0B-0.8%
Total assets$91.5B+1.7%

Cash flow

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Operating cash flow$2.7B+6.7%
CapEx$444.0M-6.7%
Free cash flow$2.3B+9.7%

Valuation & ratios

Valuation

as of 01/23/26
See full
Market cap$132B+13.3%
Enterprise value$158.98B+12.1%
P/E28.6×+1.3×
P/S3.7×+0.2×

Profitability

See full
Gross margin64.9%-0.4pp
Operating margin17%+0.2pp
Net margin13%+0.2pp
FCF margin15.2%-1.2pp

Returns & leverage

See full
Return on equity9.4%+1.0pp
Debt / equity0.6×0.0×
Current ratio2.5×+0.6×

Segments

By segment

See full
Cardiovascular$3.5B+13.8%
Neuroscience$2.6B+4.1%
Medical Surgical$2.2B+4.9%
Diabetes$796.0M+14.7%
Other operating segment$32.0M0.0%

Versus estimates

Revenue

Q4 2026$9.8BBeat by $192.1M
Q3 2026$9.0BBeat by $106.1M
Q2 2026$9.0BBeat by $94.0MQ1 2026$8.6BBeat by $199.4MQ4 2025$8.9BBeat by $108.4MQ3 2025$8.3BMiss by $35.4M

Diluted EPS

Q4 2026$0.96Miss by $0.58
Q3 2026$1.36Beat by $0.02
Q2 2026$1.36Beat by $0.05Q1 2026$1.26Beat by $0.03Q4 2025$1.62Beat by $0.04Q3 2025$1.39Beat by $0.03

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Questions, answered.

When did Medtronic report Q3 2026 earnings?
Medtronic (MDT) reported Q3 2026 earnings on February 17, 2026 before market open.
What were Medtronic's Q3 2026 revenue and EPS?
Medtronic reported revenue of $9.0B and diluted EPS of $1.36 for Q3 2026.
Did Medtronic beat estimates in Q3 2026?
Revenue beat the consensus estimate of $8.9B by $106.1M. EPS beat the consensus estimate of $1.34 by $0.02.
How did Medtronic's Q3 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 8.7% from $8.3B a year earlier and diluted EPS declined 2.2% from $1.39.
Where can I find Medtronic's Q3 2026 SEC filings?
You can read the 8-K earnings release (0001628280-26-008300) and the 10-Q periodic report (0001628280-26-011107) directly on SEC EDGAR. The filing index links above go to sec.gov.