Operating Income
Medtronic Operating Income decreased by 13.2% to $1.46B in Q4 2025 compared to the prior quarter. Year-over-year, this metric declined by 11.1%, from $1.65B to $1.46B. Over 4 years (FY 2021 to FY 2025), Operating Income shows an upward trend with a 7.4% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
Analysis
How to read this metric
Growth in operating income suggests that the core business is becoming more profitable and efficient.
Detailed definition
The profit realized from a business's own operations after deducting operating expenses like wages, depreciation, and co...
Peer comparison
This is a key metric for comparing the fundamental business performance of companies with different tax or debt structures.
operating_incomeHistorical Data
| Q1 '21 | Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $1.60B | $859.00M | $1.56B | $1.66B | $1.67B | $1.13B | $1.40B | $1.39B | $1.56B | $1.27B | $1.34B | $1.48B | $1.05B | $1.28B | $1.60B | $1.65B | $1.44B | $1.45B | $1.69B | $1.46B |
| QoQ Change | — | -46.4% | +82.0% | +6.1% | +0.7% | -32.7% | +24.8% | -0.9% | +12.4% | -18.9% | +5.7% | +10.7% | -29.0% | +21.4% | +24.8% | +3.2% | -12.8% | +0.6% | +16.7% | -13.2% |
| YoY Change | — | — | — | — | +4.2% | +31.0% | -10.2% | -16.1% | -6.4% | +12.7% | -4.6% | +6.5% | -32.7% | +0.8% | +19.0% | +11.0% | +36.4% | +13.1% | +5.7% | -11.1% |
Business Segments
| Segment | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Diabetes Group | $91.00M | $102.00M | $116.00M | $136.00M | $137.00M | $26.00M | $53.00M | $57.00M |
| Other operating segment | — | — | — | — | — | $11.00M | $9.00M | -$1.00M |
| Cardiovascular | $1.18B | — | — | — | $1.31B | — | — | — |
| Medical Surgical | $855.00M | — | — | — | $813.00M | — | — | — |
| Neuroscience | $1.09B | — | — | — | $1.14B | — | — | — |
| Total | $1.05B | $1.28B | $1.60B | $1.65B | $1.44B | $1.45B | $1.69B | $1.46B |
Diabetes is derived from annual filings.
Diabetes, Other were previously reported and have since been discontinued or reclassified. Only currently active segments are shown in the chart.
Operating Income at Other Companies
Frequently Asked Questions
- What is Medtronic's operating income?
- Medtronic (MDT) reported operating income of $1.46B in Q4 2025.
- How has Medtronic's operating income changed year-over-year?
- Medtronic's operating income decreased by 11.1% year-over-year, from $1.65B to $1.46B.
- What is the long-term trend for Medtronic's operating income?
- Over 4 years (2021 to 2025), Medtronic's operating income has grown at a 7.4% compound annual growth rate (CAGR), from $4.48B to $5.96B.
- What does operating income mean?
- The profit earned from core business activities, before accounting for interest and taxes.