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Medtronic MDT Cardiovascular — Accelerated amortization

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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 mdt:AcceleratedAmortizationOfIntangibleAssets.

The source filing: Medtronic’s 10-K, filed June 18, 2026.

Filed
Jun 18, 2026, 4:27 PM EDT
Fiscal year
FY2026
Accession
0001628280-26-044354

Intangible asset amortization expense was $1.8 billion for both fiscal years 2026 and 2025, including $121 million and $151 million, respectively, of accelerated amortization on certain intangible assets related to product line exits within the Cardiovascular Portfolio. Intangible asset amortization expense was $1.7 billion for fiscal year 2024. Estimated aggregate amortization expense by fiscal year based on the current carrying value and remaining estimated useful lives of definite-lived intangible assets at April 24, 2026, excluding any possible future amortization associated with acquired IPR&D which has not met technological feasibility, is as follows:

Item 8. Financial Statements and Supplementary Data

FAQ

What is Medtronic's cardiovascular — accelerated amortization?
Medtronic (MDT) reported cardiovascular — accelerated amortization of $0 in Q1 2026.
How has Medtronic's cardiovascular — accelerated amortization changed year-over-year?
Medtronic's cardiovascular — accelerated amortization decreased by 100.0% year-over-year, from $37.75M to $0.
What does cardiovascular — accelerated amortization mean?
This represents the non-cash charge taken when the carrying value of an intangible asset in the cardiovascular segment is written down faster than originally planned. This often occurs due to changes in technology, product obsolescence, or strategic shifts in the product portfolio. It is an important indicator of potential issues with the segment's long-term asset value.

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