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Medtronic MDT Debt-to-equity

Debt-to-equity at other companies

Abbott logo
AbbottABT
0.7×+0.4×
Becton, Dickinson and Company logo
Becton, Dickinson and CompanyBDX
0.6×-0.1×
Johnson & Johnson logo
Johnson & JohnsonJNJ
0.7×0.0×
Boston Scientific logo
Boston ScientificBSX
-0.5×
Intuitive Surgical logo
Intuitive SurgicalISRG
0.0×
DexCom logo
DexComDXCM
0.0×

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$100.32B-3.8%
Enterprise value$127.58B-3.2%
P/E20.9×-1.5×
P/S2.8×-0.4×

Profitability

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Gross margin64.9%-0.3pp
Operating margin17%0.0pp
Net margin13%-0.7pp

Returns & leverage

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Return on equity9.4%+0.3pp
Current ratio2.5×+0.3×

Where this comes from

Calculated from Medtronic’s reported figures.

Based on the most recent quarter.

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 debt-to-equity?
Medtronic (MDT) reported debt-to-equity of 0.6× in Q1 2026.
How has Medtronic's debt-to-equity changed year-over-year?
Medtronic's debt-to-equity decreased by 4.5% year-over-year, from 0.6× to 0.6×.
What is the long-term trend for Medtronic's debt-to-equity?
Over 5 years (2021 to 2026), Medtronic's debt-to-equity has grown at a -1.8% compound annual growth rate (CAGR), from 2.6× to 2.4×.
What does debt-to-equity mean?
How much debt the company carries for every dollar of shareholder equity.
How do you interpret debt-to-equity?
Lower is generally safer, but moderate leverage can boost returns. Read in the context of cash-flow stability — a utility tolerates more debt than a cyclical. Negative equity makes the ratio meaningless and it is suppressed there.
How does debt-to-equity compare across companies?
Comparable within an industry; capital structures differ sharply across sectors. Not meaningful for banks.