What are Medtronic's profit margins?

Medtronic (MDT) runs a 64.9% gross margin and a 17.0% operating margin, with a 13.0% net margin.

Where do Medtronic's ratios come from?

Every ratio is computed from Medtronic's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Medtronic MDT Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	TTM Q4 '26	TTM Q3 '26	TTM Q2 '26	TTM Q1 '26	TTM Q4 '25
Profitability
Gross margin	260.7%-0.1pp	261%+0.1pp	261.4%+0.3pp	260.9%-0.5pp	260.8%-1.1pp
Operating margin	70.6%+3.8pp	70.5%+5.6pp	70.3%+4.7pp	68.8%+2.2pp	66.8%-1.9pp
Net margin	53.5%+1.8pp	54.2%+5.0pp	54.1%+4.7pp	53.4%+4.1pp	51.8%+3.1pp
EBITDA margin	104.7%+5.2pp	105%+7.8pp	104.2%+6.1pp	102%+2.4pp	99.4%-2.7pp
Free cash flow margin	60.7%-3.7pp	61.2%-3.8pp	62.4%-1.4pp	64.1%+4.3pp	64.4%+6.3pp
Returns
Return on equity	38.8%+4.3pp	38.4%+6.2pp	37.4%+5.6pp	36.2%+5.0pp	34.4%+4.1pp
Return on assets	20.7%+1.7pp	20.6%+2.7pp	20.3%+2.5pp	19.8%+2.3pp	19%+1.9pp
Return on invested capital	27%+2.8pp	26.9%+4.0pp	26.3%+3.8pp	25.5%+3.3pp	24.3%+2.7pp
Efficiency
Asset turnover	1.5×+0.1×	1.5×+0.1×	1.5×+0.1×	1.5×+0.1×	1.5×+0.1×
Inventory turnover	8.5×+0.2×	8.4×+0.2×	8.4×+0.1×	8.4×+0.1×	8.3×+0.1×
Liquidity
Current ratio	9.1×+1.4×	8.8×+0.9×	8.2×-0.1×	7.6×-1.1×	7.7×-1.3×
Quick ratio	6.8×+0.9×	6.6×+0.6×	6.2×-0.1×	5.7×-0.8×	5.8×-0.9×
Cash ratio	0.5×0.0×	0.5×+0.1×	0.5×0.0×	0.5×0.0×	0.5×0.0×
Leverage
Debt-to-equity	2.4×0.0×	2.4×+0.2×	2.4×+0.2×	2.3×+0.3×	2.3×+0.3×
Debt-to-assets	1.3×0.0×	1.3×+0.1×	1.3×+0.1×	1.3×+0.1×	1.2×+0.1×
Net debt / EBITDA	11.9×-1.1×	12.1×-0.9×	12.2×-0.6×	12.6×+0.3×	13×+1.2×
Interest coverage	34.6×+5.0×	33.7×+5.1×	32.6×+3.3×	30.9×+0.5×	29.6×-2.9×
Per Share
Book value per share	$151.37+0.7%	$150.20-0.4%	$150.61-0.5%	$150.52-1.1%	$150.29-2.2%
Valuation
Market capitalization	$467.91B+4.9%	$472.07B+6.1%	$456.53B+2.7%	$455.62B+7.7%	$446.21B+2.9%
Enterprise value	$577.41B+4.5%	$581.78B+6.0%	$564.67B+3.3%	$562.87B+7.8%	$552.68B+4.4%
Price / earnings	99.5×-5.0×	101×-9.3×	99.8×-10.9×	102.3×-4.4×	104.5×-7.4×
Price / sales	13.3×-0.2×	13.7×+0.1×	13.5×-0.2×	13.6×+0.5×	13.5×0.0×
Price / book	9.6×+0.4×	9.8×+0.7×	9.4×+0.4×	9.4×+1.0×	9.2×+0.7×
EV / EBITDA	62.8×-4.6×	64.2×-4.6×	64×-4.5×	66×+1.1×	67.3×+2.5×
EV / sales	16.4×-0.3×	16.9×+0.1×	16.6×-0.1×	16.8×+0.7×	16.7×+0.2×
Free cash flow yield	18.4%-0.7pp	18%-1.2pp	18.6%-0.2pp	18.8%+0.6pp	19.1%+1.9pp
Earnings yield	16.2%+0.9pp	15.9%+1.4pp	16.1%+1.6pp	15.7%+0.6pp	15.4%+0.9pp
Dividend yield	12.5%-0.5pp	12.3%-0.8pp	12.6%-0.5pp	12.7%-1.2pp	13%-0.6pp
PEG ratio	14.2×-15.2×	7.8×—	23.9×—	27.6×—	29.4×—

Chart any of these lines over time, or line them up against competitors.

Compare these in charts →

Ask your AI about Medtronic.

Connect your AI assistant and get a quick read on the numbers, right in your chat.

Connect your AI

Claude

Questions, answered.

What are Medtronic's profit margins?: Medtronic (MDT) runs a 64.9% gross margin and a 17.0% operating margin, with a 13.0% net margin.
Where do Medtronic's ratios come from?: Every ratio is computed from Medtronic's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.