What is Medtronic's deferred taxes?

Medtronic (MDT) reported deferred taxes of $167M in Q2 2025.

How has Medtronic's deferred taxes changed year-over-year?

Medtronic's deferred taxes increased by 89.8% year-over-year, from $88M to $167M.

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

Over 3 years (2022 to 2025), Medtronic's deferred taxes has grown at a -19.4% compound annual growth rate (CAGR), from -$604M to -$316M.

What does deferred taxes mean?

Non-cash deferred tax expense or benefit representing the change in deferred tax assets/liabilities during the period.

Medtronic MDT Deferred Taxes

Deferred Taxes at other companies

TFX

TeleflexTFX

-$12.71M-11,669%

Johnson & JohnsonJNJ

$159M-92.7%

StrykerSYK

-$33M-336%

ArtivionAORT

-$524K—

CONMEDCNMD

$1.54M+158%

Orthofix Medical Inc.OFIX

$93K-79.1%

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$100.14B-9.3%

Enterprise value$127.4B-7.6%

P/E20.9×-2.8×

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

See full

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:DeferredIncomeTaxesAndTaxCredits.

The official record: Medtronic’s 10-Q, filed August 26, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Medtronic's deferred taxes?: Medtronic (MDT) reported deferred taxes of $167M in Q2 2025.
How has Medtronic's deferred taxes changed year-over-year?: Medtronic's deferred taxes increased by 89.8% year-over-year, from $88M to $167M.
What is the long-term trend for Medtronic's deferred taxes?: Over 3 years (2022 to 2025), Medtronic's deferred taxes has grown at a -19.4% compound annual growth rate (CAGR), from -$604M to -$316M.
What does deferred taxes mean?: Non-cash deferred tax expense or benefit representing the change in deferred tax assets/liabilities during the period.