Free cash flow
Medtronic Free cash flow increased by 403.3% to $2.30B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 9.7%, from $2.10B to $2.30B. Over 3 years (FY 2022 to FY 2025), Free cash flow shows a downward trend with a -4.6% CAGR. This is a positive signal — higher values indicate stronger performance for this metric.
Analysis
How to read this metric
An increase suggests strong operational efficiency and the ability to self-fund future innovation or return capital to shareholders, while a decrease may indicate heavy capital expenditure cycles or declining operational profitability.
Detailed definition
Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and m...
Peer comparison
High-growth semiconductor and AI infrastructure peers typically prioritize reinvestment, so free cash flow margins are often compared against R&D intensity and capital expenditure requirements of industry rivals.
cf_free_cash_flowHistorical Data
| 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 | $914.00M | $1.50B | $1.90B | $1.67B | $657.00M | $599.00M | $1.24B | $2.08B | $521.00M | $200.00M | $2.13B | $2.35B | $466.00M | $554.00M | $2.10B | $2.07B | $584.00M | $457.00M | $2.30B |
| QoQ Change | — | +63.9% | +26.7% | -12.1% | -60.6% | -8.8% | +107.3% | +67.6% | -75.0% | -61.6% | +964.0% | +10.5% | -80.2% | +18.9% | +278.3% | -1.3% | -71.8% | -21.7% | +403.3% |
| YoY Change | — | — | — | — | -28.1% | -60.0% | -34.6% | +24.8% | -20.7% | -66.6% | +71.3% | +12.9% | -10.6% | +177.0% | -1.5% | -12.0% | +25.3% | -17.5% | +9.7% |
Free cash flow at Other Companies
Frequently Asked Questions
- What is Medtronic's free cash flow?
- Medtronic (MDT) reported free cash flow of $2.30B in Q4 2025.
- How has Medtronic's free cash flow changed year-over-year?
- Medtronic's free cash flow increased by 9.7% year-over-year, from $2.10B to $2.30B.
- What is the long-term trend for Medtronic's free cash flow?
- Over 3 years (2022 to 2025), Medtronic's free cash flow has grown at a -4.6% compound annual growth rate (CAGR), from $5.98B to $5.19B.
- What does free cash flow mean?
- The cash a company has left over after paying for its operating expenses and capital investments.