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Medtronic MDT Return on invested capital

Return on invested capital at other companies

Abbott logo
AbbottABT
8.8%-5.1pp
Becton, Dickinson and Company logo
Becton, Dickinson and CompanyBDX
4.8%+0.3pp
Johnson & Johnson logo
Johnson & JohnsonJNJ
20.6%+0.3pp
Boston Scientific logo
Boston ScientificBSX
10.9%+4.0pp
Intuitive Surgical logo
Intuitive SurgicalISRG
17.6%+1.2pp
DexCom logo
DexComDXCM
45.9%+15.5pp

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.

Based on trailing twelve months.

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 return on invested capital?
Medtronic (MDT) reported return on invested capital of 6.7% in Q1 2026.
How has Medtronic's return on invested capital changed year-over-year?
Medtronic's return on invested capital increased by 1.6% year-over-year, from 6.6% to 6.7%.
What is the long-term trend for Medtronic's return on invested capital?
Over 5 years (2021 to 2026), Medtronic's return on invested capital has grown at a 6.7% compound annual growth rate (CAGR), from 19.5% to 27%.
What does return on invested capital mean?
The after-tax return the business earns on all the capital — debt and equity — invested in it.
How do you interpret return on invested capital?
The cleanest measure of business quality: ROIC sustained above the cost of capital creates value, below it destroys value. Compare against WACC, not against zero.
How does return on invested capital compare across companies?
Highly comparable across companies as a quality screen. Sector-sensitive definitions of invested capital mean banks/insurers are best excluded.