Investing
CapEx
Medtronic CapEx decreased by 5.1% to $444.00M in Q4 2025 compared to the prior quarter. Year-over-year, this metric declined by 6.7%, from $476.00M to $444.00M. Over 3 years (FY 2022 to FY 2025), CapEx shows an upward trend with a 10.8% CAGR.
Analysis
StatementCash Flow Statement
SectionInvesting
CategoryGrowth
SignalContext dependent
VolatilityModerate
First reportedQ4 2013
Last reportedQ4 2025
How to read this metric
An increase signals growth investment or infrastructure modernization; a decrease might suggest cost-cutting or a transition to an asset-light model.
Detailed definition
Funds used by a company to acquire, upgrade, and maintain physical assets such as property, plants, buildings, technolog...
Peer comparison
Hardware-focused tech firms typically have higher CapEx relative to revenue than pure software companies due to manufacturing and supply chain needs.
Metric ID:
cf_capital_expendituresHistorical Data
19 periods
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $378.00M | $271.00M | $330.00M | $389.00M | $426.00M | $323.00M | $332.00M | $378.00M | $354.00M | $461.00M | $346.00M | $426.00M | $520.00M | $404.00M | $476.00M | $459.00M | $504.00M | $468.00M | $444.00M |
| QoQ Change | — | -28.3% | +21.8% | +17.9% | +9.5% | -24.2% | +2.8% | +13.9% | -6.3% | +30.2% | -24.9% | +23.1% | +22.1% | -22.3% | +17.8% | -3.6% | +9.8% | -7.1% | -5.1% |
| YoY Change | — | — | — | — | +12.7% | +19.2% | +0.6% | -2.8% | -16.9% | +42.7% | +4.2% | +12.7% | +46.9% | -12.4% | +37.6% | +7.7% | -3.1% | +15.8% | -6.7% |
Range$271.00M – $520.00M
CAGR+3.6%
Avg YoY Growth+10.6%
Median YoY Growth+7.7%
Current Streak2 quarters decline
CapEx at Other Companies
Frequently Asked Questions
- What is Medtronic's capex?
- Medtronic (MDT) reported capex of $444.00M in Q4 2025.
- How has Medtronic's capex changed year-over-year?
- Medtronic's capex decreased by 6.7% year-over-year, from $476.00M to $444.00M.
- What is the long-term trend for Medtronic's capex?
- Over 3 years (2022 to 2025), Medtronic's capex has grown at a 10.8% compound annual growth rate (CAGR), from $1.37B to $1.86B.
- What does capex mean?
- The money spent on long-term physical assets like machinery, data centers, and office buildings.