What is Medtronic's capex?

Medtronic (MDT) reported capex of $488M in Q1 2026.

How has Medtronic's capex changed year-over-year?

Medtronic's capex increased by 6.3% year-over-year, from $459M to $488M.

What is the long-term trend for Medtronic's capex?

Over 5 years (2021 to 2026), Medtronic's capex has grown at a 7.0% compound annual growth rate (CAGR), from $1.36B to $1.9B.

What does capex mean?

Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.

Medtronic MDT CapEx

CapEx at other companies

AbbottABT

$399M-17.6%

Becton, Dickinson and CompanyBDX

$125M+9.6%

TFX

TeleflexTFX

$18.79M-22.1%

Johnson & JohnsonJNJ

$1.05B+31.9%

StrykerSYK

$166M+35.0%

ArtivionAORT

$8M+120%

Other financials

Income statement

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Revenue$9.8B+9.9%

Gross profit$6.4B+10.9%

Operating income$1.9B+30.4%

Net income$1.2B+17.8%

EPS (diluted)$0.97+18.3%

Balance sheet

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Cash & equivalents$1.9B-12.1%

Total debt$29.2B-1.6%

Total equity$49.5B+3.0%

Total assets$93.0B+1.5%

Cash flow

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Operating cash flow$2.6B+1.8%

Free cash flow$2.1B+0.8%

Valuation

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Market cap$103.07B-6.9%

Enterprise value$130.33B-5.7%

P/E21.5×-2.3×

P/S2.8×-0.5×

Profitability

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Gross margin65%-0.3pp

Operating margin17.8%0.0pp

Net margin13.2%-0.7pp

FCF margin14.9%-0.5pp

Returns & leverage

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Return on equity9.8%+0.4pp

Debt / equity0.6×0.0×

Current ratio2.1×+0.3×

Where this comes from

Reported directly by Medtronic in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

The official record: Medtronic’s 10-K, filed June 18, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Medtronic's capex?: Medtronic (MDT) reported capex of $488M in Q1 2026.
How has Medtronic's capex changed year-over-year?: Medtronic's capex increased by 6.3% year-over-year, from $459M to $488M.
What is the long-term trend for Medtronic's capex?: Over 5 years (2021 to 2026), Medtronic's capex has grown at a 7.0% compound annual growth rate (CAGR), from $1.36B to $1.9B.
What does capex mean?: Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.