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Medtronic MDT Net debt / EBITDA

Net debt / EBITDA at other companies

Abbott logo
AbbottABT
2.5×+1.9×
Becton, Dickinson and Company logo
Becton, Dickinson and CompanyBDX
2.9×-1.0×
Johnson & Johnson logo
Johnson & JohnsonJNJ
1×+0.5×
Stryker logo
StrykerSYK
1.9×-1.3×
Boston Scientific logo
Boston ScientificBSX
-0.1×-2.9×
Intuitive Surgical logo
Intuitive SurgicalISRG
-0.8×-0.3×

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$100.32B-3.8%
Enterprise value$127.58B-3.2%
P/E20.9×-1.5×
P/S2.8×-0.4×

Profitability

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Gross margin64.9%-0.3pp
Operating margin17%0.0pp
Net margin13%-0.7pp

Returns & leverage

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Return on equity9.4%+0.3pp
Debt / equity0.6×0.0×
Current ratio2.5×+0.3×

Where this comes from

Calculated from Medtronic’s reported figures.

net debt/ebitda=2.9×

Based on the most recent quarter.

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 net debt / EBITDA?
Medtronic (MDT) reported net debt / EBITDA of 2.9× in Q1 2026.
How has Medtronic's net debt / EBITDA changed year-over-year?
Medtronic's net debt / EBITDA decreased by 7.2% year-over-year, from 3.1× to 2.9×.
What is the long-term trend for Medtronic's net debt / EBITDA?
Over 5 years (2021 to 2026), Medtronic's net debt / EBITDA has grown at a -6.9% compound annual growth rate (CAGR), from 17× to 11.9×.
What does net debt / EBITDA mean?
How many years of operating earnings it would take to pay off the company's net debt.
How do you interpret net debt / EBITDA?
Lower is safer; lenders often covenant around 3–4×. A negative value means net cash (more cash than debt), a position of strength. Spikes can reflect a temporary EBITDA dip rather than new borrowing.
How does net debt / EBITDA compare across companies?
A standard leverage yardstick across non-financial sectors; covenant thresholds vary by industry cash-flow stability.