What is Medtronic's operating income?

Medtronic (MDT) reported operating income of $1.87B in Q1 2026.

How has Medtronic's operating income changed year-over-year?

Medtronic's operating income increased by 30.4% year-over-year, from $1.44B to $1.87B.

What is the long-term trend for Medtronic's operating income?

Over 5 years (2021 to 2026), Medtronic's operating income has grown at a 7.6% compound annual growth rate (CAGR), from $4.49B to $6.47B.

What does operating income mean?

Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.

Medtronic MDT Operating Income

Operating Income at other companies

AbbottABT

$1.35B-20.6%

Becton, Dickinson and CompanyBDX

$93M-75.7%

TFX

TeleflexTFX

$20.18M-73.4%

StrykerSYK

$936M+11.8%

CONMEDCNMD

$25.42M+59.3%

Johnson & JohnsonJNJ

——

Segments

By segment

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Cardiovascular$1.07B+11.8%

Neuroscience$879M+2.4%

Medical Surgical$605M+5.2%

Diabetes$57M+14.0%

Other operating segment-$1M-108%

Other financials

Income statement

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Revenue$9.8B+9.9%

Gross profit$6.4B+10.9%

Net income$1.2B+17.8%

EPS (diluted)$0.97+18.3%

Balance sheet

See full

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

See full

Operating cash flow$2.6B+1.8%

CapEx$488.0M+6.3%

Free cash flow$2.1B+0.8%

Valuation

See full

Market cap$103.07B-6.9%

Enterprise value$130.33B-5.7%

P/E21.5×-2.3×

P/S2.8×-0.5×

Profitability

See full

Gross margin65%-0.3pp

Operating margin17.8%0.0pp

Net margin13.2%-0.7pp

FCF margin14.9%-0.5pp

Returns & leverage

See full

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:OperatingIncomeLoss.

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 operating income?: Medtronic (MDT) reported operating income of $1.87B in Q1 2026.
How has Medtronic's operating income changed year-over-year?: Medtronic's operating income increased by 30.4% year-over-year, from $1.44B to $1.87B.
What is the long-term trend for Medtronic's operating income?: Over 5 years (2021 to 2026), Medtronic's operating income has grown at a 7.6% compound annual growth rate (CAGR), from $4.49B to $6.47B.
What does operating income mean?: Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.