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Medtronic MDT Medical Surgical — Net Sales

Other segment segments

Cardiovascular
$3.8B+13.8%
Neuroscience
$2.75B+5.0%
Diabetes
$838M+15.1%
Other Operating Segments
$135M
Other operating segment
$32M0.0%

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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$109.3B-4.8%
Enterprise value$136.56B-4.0%
P/E22.8×-1.9×
P/S-0.4×

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 us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

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
(in millions)Worldwide / Fiscal Year / 2026Worldwide / Fiscal Year / 2025Worldwide / Fiscal Year / 2024
Neuroscience10,2879,8469,406
Surgical & Endoscopy6,7646,4986,508
Acute Care & Monitoring2,0511,9091,908
Medical Surgical8,8158,4078,417
Reportable segment net sales33,07930,73429,654
Diabetes3,1122,7552,488
Other operating segment(1)135137221
Other adjustments(2)39(90)

Item 8. Financial Statements and Supplementary Data

FAQ

What is Medtronic's medical surgical — net sales?
Medtronic (MDT) reported medical surgical — net sales of $2.39B in Q1 2026.
How has Medtronic's medical surgical — net sales changed year-over-year?
Medtronic's medical surgical — net sales increased by 8.0% year-over-year, from $2.21B to $2.39B.
What is the long-term trend for Medtronic's medical surgical — net sales?
Over 4 years (2022 to 2026), Medtronic's medical surgical — net sales has grown at a 1.0% compound annual growth rate (CAGR), from $8.47B to $8.81B.
What does medical surgical — net sales mean?
The total revenue generated from the sale of Medical Surgical products to customers, net of returns, allowances, and discounts. This is the primary top-line metric for the segment, reflecting market demand and pricing power. It serves as the foundation for evaluating the segment's growth trajectory.

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