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Medtronic MDT Neuroscience — Research and development expense

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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 us-gaap:ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost.

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)CardiovascularNeuroscienceMedical SurgicalTotal
Total consolidated net sales$36,364
Less:
Cost of products sold, excluding amortization of intangible assets4,6953,1513,47611,323
Research and development expense1,1366166862,438
Selling, general, and administrative expense4,5193,4212,51110,451
Other segment items(3)(46)36144
Reportable segment operating profit$3,672$3,062$2,128$8,862
Reconciliation of segment profit / (loss)

Item 8. Financial Statements and Supplementary Data

FAQ

What is Medtronic's neuroscience — research and development expense?
Medtronic (MDT) reported neuroscience — research and development expense of $139M in Q1 2026.
How has Medtronic's neuroscience — research and development expense changed year-over-year?
Medtronic's neuroscience — research and development expense decreased by 6.7% year-over-year, from $149M to $139M.
What is the long-term trend for Medtronic's neuroscience — research and development expense?
Over 3 years (2023 to 2026), Medtronic's neuroscience — research and development expense has grown at a 2.4% compound annual growth rate (CAGR), from $573M to $616M.
What does neuroscience — research and development expense mean?
This includes all costs associated with the discovery, development, and clinical testing of new neuroscience technologies and therapies. It is a critical investment metric for assessing the segment's long-term innovation pipeline.

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