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Medtronic MDT Contract Liabilities

Contract Liabilities at other companies

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$23.83M+16.8%
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$1.37M-7.0%
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$10M-9.1%
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$2.1M+50.0%

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%
CapEx$488.0M+6.3%
Free cash flow$2.1B+0.8%

Valuation

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Market cap$110.07B-3.9%
Enterprise value$137.33B-3.2%
P/E22.9×-1.6×
P/S-0.3×

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:ContractWithCustomerLiability.

The source filing: Medtronic’s 10-Q, filed February 24, 2026.

Filed
Feb 24, 2026, 4:18 PM EST
Fiscal quarter
Q3 FY2026
Calendar quarter
Q1 2026
Accession
0001628280-26-011107

Deferred revenue at January 23, 2026 and April 25, 2025 was $468 million and $446 million, respectively. At January 23, 2026 and April 25, 2025, $373 million and $354 million was included in other accrued expenses, respectively, and $95 million and $92 million was included in other liabilities, respectively. During the nine months ended January 23, 2026, the Company recognized $314 million of revenue that was included in deferred revenue as of April 25, 2025. During the nine months ended January 24, 2025, the Company recognized $251 million of revenue that was included in deferred revenue as of April 26, 2024.

Item 1. Financial Statements

FAQ

What is Medtronic's contract liabilities?
Medtronic (MDT) reported contract liabilities of $468M in Q4 2025.
How has Medtronic's contract liabilities changed year-over-year?
Medtronic's contract liabilities increased by 1.3% year-over-year, from $462M to $468M.
What is the long-term trend for Medtronic's contract liabilities?
Over 4 years (2021 to 2025), Medtronic's contract liabilities has grown at a 4.9% compound annual growth rate (CAGR), from $368M to $446M.
What does contract liabilities mean?
Revenue collected or billed in advance of performance — deferred revenue under ASC 606 terminology, representing future revenue obligations.

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