What is Medtronic's income tax?

Medtronic (MDT) reported income tax of $575M in Q1 2026.

How has Medtronic's income tax changed year-over-year?

Medtronic's income tax increased by 188.9% year-over-year, from $199M to $575M.

What is the long-term trend for Medtronic's income tax?

Over 4 years (2022 to 2026), Medtronic's income tax has grown at a 29.9% compound annual growth rate (CAGR), from $456M to $1.3B.

What does income tax mean?

Total income tax expense (current + deferred) recognized in the income statement, representing the company's total tax obligation on pre-tax income.

Medtronic MDT Income Tax

Income Tax at other companies

AbbottABT

$372M-17.9%

TFX

TeleflexTFX

$1.01M-84.2%

Johnson & JohnsonJNJ

$755M-71.3%

StrykerSYK

$105M-4.5%

CONMEDCNMD

$4.53M+177%

Merit Medical SystemsMMSI

$12.55M+60.7%

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:IncomeTaxExpenseBenefit.

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 income tax?: Medtronic (MDT) reported income tax of $575M in Q1 2026.
How has Medtronic's income tax changed year-over-year?: Medtronic's income tax increased by 188.9% year-over-year, from $199M to $575M.
What is the long-term trend for Medtronic's income tax?: Over 4 years (2022 to 2026), Medtronic's income tax has grown at a 29.9% compound annual growth rate (CAGR), from $456M to $1.3B.
What does income tax mean?: Total income tax expense (current + deferred) recognized in the income statement, representing the company's total tax obligation on pre-tax income.