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Medtronic MDT Q4 2025 Annual earnings

Reported May 21, 2025 · Before market open

Revenue estimate$8.8B
EPS estimate$1.58

Next report

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

Financials

Q4 2025

Income statement

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Revenue$8.9B+3.9%
Gross profit$5.8B+4.2%
Operating income$1.4B+36.4%
Net income$1.1B+61.5%
EPS (diluted)$0.82+67.3%

Balance sheet

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Cash & equivalents$2.2B+72.7%
Total debt$29.7B+13.7%
Total equity$48.0B-4.4%
Total assets$91.7B+1.9%

Cash flow

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Operating cash flow$2.5B-9.0%
CapEx$459.0M+7.7%
Free cash flow$2.1B-12.0%

Valuation & ratios

Valuation

as of 04/25/25
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Market cap$108.12B+1.3%
Enterprise value$135.58B+3.1%
P/E23.2×-5.8×
P/S3.2×-0.1×

Profitability

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Gross margin65.3%0.0pp
Operating margin17.8%+1.9pp
Net margin13.9%+2.5pp
FCF margin15.5%-0.6pp

Returns & leverage

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Return on equity9.5%+2.3pp
Debt / equity0.6×+0.1×
Current ratio1.8×-0.2×

Segments

By segment

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Cardiovascular$3.3B+6.6%
Neuroscience$2.6B+2.9%
Medical Surgical$2.2B+0.6%
Diabetes$728.0M+10.5%
Other operating segment$31.0M-45.6%

Versus estimates

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Questions, answered.

When did Medtronic report Q4 2025 earnings?
Medtronic (MDT) reported Q4 2025 earnings on May 21, 2025 before market open.
What were Medtronic's Q4 2025 revenue and EPS?
Medtronic reported revenue of $8.9B and diluted EPS of $1.62 for Q4 2025.
Did Medtronic beat estimates in Q4 2025?
Revenue beat the consensus estimate of $8.8B by $108.4M. EPS beat the consensus estimate of $1.58 by $0.04.
How did Medtronic's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 3.9% from $8.6B a year earlier and diluted EPS grew 11.0% from $1.46.
Where can I find Medtronic's Q4 2025 SEC filings?
You can read the 10-K periodic report (0001613103-25-000091) directly on SEC EDGAR. The filing index links above go to sec.gov.