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Medtronic MDT Cardiovascular — Research and development expense

Other segment segments

Medical Surgical
$163M-3.6%
Neuroscience
$139M-6.7%
Diabetes
$109M+0.9%

Similar metrics at other companies

Boston Scientific logo
BSXCardiovascular — Research and development expenses
$343M+21.2%
Boston Scientific logo
BSXCardiovascular — Research and development expenses, percentage of net sale
9.8%+0.8pp
Boston Scientific logo
BSXMedSurg — Research and development expenses
$127M+5.0%
ResMed logo
RMDSleep And Breathing Health — R&D
$56.41M+19.4%
Biogen logo
BIIBReportable Segment — Research and development:
$172.8M-3.2%
Boston Scientific logo
BSXCardiovascular — Cost of products sold, percentage of net sale
30.5%+1.2pp

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$101.86B-3.8%
Enterprise value$129.12B-3.2%
P/E21.2×-1.5×
P/S2.8×-0.4×

Profitability

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Gross margin65%-0.3pp
Operating margin17.8%0.0pp
Net margin13.2%-0.7pp

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:ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost.

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 cardiovascular — research and development expense?
Medtronic (MDT) reported cardiovascular — research and development expense of $273M in Q1 2026.
How has Medtronic's cardiovascular — research and development expense changed year-over-year?
Medtronic's cardiovascular — research and development expense increased by 5.4% year-over-year, from $259M to $273M.
What is the long-term trend for Medtronic's cardiovascular — research and development expense?
Over 3 years (2023 to 2026), Medtronic's cardiovascular — research and development expense has grown at a 11.7% compound annual growth rate (CAGR), from $815M to $1.14B.
What does cardiovascular — research and development expense mean?
The total spending on research and development activities specifically for the cardiovascular product segment.
How do you interpret cardiovascular — research and development expense?
An increase suggests a focus on future product innovation, while a decrease may indicate cost-cutting or a shift in strategic R&D priorities.
How does cardiovascular — research and development expense compare across companies?
Comparable to R&D spending in specialized medical technology segments at peers like Abbott or Boston Scientific.