Medtronic plc (MDT) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 |
|---|
| Sales/Revenue | 9.81B | 9.02B | 8.96B | 8.58B | 8.93B | 8.29B | 8.4B | 7.92B | 8.59B | 8.09B | 7.98B | 7.7B | 8.54B | 7.73B | 7.58B | 7.37B | 8.09B | 7.76B | 7.85B | 7.99B |
| Revenue Growth % | 9.86% | 8.76% | 6.64% | 8.38% | 3.94% | 2.51% | 5.25% | 2.77% | 0.53% | 4.68% | 5.26% | 4.49% | 5.62% | -0.46% | -3.34% | -7.71% | -1.21% | -0.15% | 2.62% | 22.74% |
| Cost of Goods Sold | 2.37B | 3.17B | 3.56B | 3.63B | 3.15B | 2.78B | 2.95B | 2.76B | 3.04B | 2.78B | 2.76B | 2.63B | 2.98B | 2.69B | 2.54B | 2.52B | 2.59B | 2.46B | 2.5B | 2.6B |
| COGS % of Revenue | 24.14% | 35.11% | 39.68% | 42.34% | 35.25% | 33.51% | 35.06% | 34.88% | 35.44% | 34.39% | 34.58% | 34.12% | 34.87% | 34.8% | 33.42% | 34.13% | 32.03% | 31.68% | 31.82% | 32.53% |
| Gross Profit | 7.44B | 5.85B | 5.41B | 4.95B | 5.78B | 5.51B | 5.46B | 5.15B | 5.54B | 5.31B | 5.22B | 5.07B | 5.57B | 5.04B | 5.05B | 4.86B | 5.5B | 5.3B | 5.35B | 5.39B |
| Gross Margin % | 75.87% | 64.88% | 60.32% | 57.66% | 64.75% | 66.49% | 64.94% | 65.12% | 64.56% | 65.61% | 65.42% | 65.88% | 65.15% | 65.2% | 66.58% | 65.87% | 67.97% | 68.32% | 68.18% | 67.47% |
| Gross Profit Growth % | 28.74% | 6.13% | -0.95% | -4.04% | 4.24% | 3.88% | 4.48% | 1.58% | -0.38% | 5.34% | 3.43% | 4.51% | 1.24% | -5.02% | -5.61% | -9.91% | -0.67% | 2.91% | 8.26% | 34.66% |
| Operating Expenses | 5.88B | 4.08B | 3.72B | 3.5B | 4.34B | 3.87B | 3.86B | 3.88B | 4.49B | 3.82B | 3.88B | 3.81B | 4B | 3.65B | 3.65B | 3.73B | 3.83B | 3.65B | 3.79B | 4.53B |
| OpEx % of Revenue | 59.96% | 45.22% | 41.51% | 40.81% | 48.66% | 46.64% | 45.96% | 48.97% | 52.3% | 47.27% | 48.63% | 49.42% | 46.83% | 47.19% | 48.07% | 50.6% | 47.31% | 46.95% | 48.26% | 56.72% |
| Selling, General & Admin | 3.06B | 2.96B | 2.97B | 2.81B | 2.72B | 2.72B | 2.76B | 2.65B | 2.77B | 2.67B | 2.69B | 2.61B | 2.62B | 2.62B | 2.62B | 2.57B | 2.57B | 2.56B | 2.62B | 2.55B |
| SG&A % of Revenue | 31.17% | 32.77% | 33.1% | 32.71% | 30.47% | 32.77% | 32.81% | 33.54% | 32.19% | 33.04% | 33.64% | 33.93% | 30.62% | 33.84% | 34.5% | 34.83% | 31.76% | 32.99% | 33.32% | 31.89% |
| Research & Development | 671M | 722M | 754M | 726M | 684M | 675M | 697M | 676M | 675M | 695M | 698M | 668M | 639M | 688M | 676M | 692M | 652M | 657M | 676M | 750M |
| R&D % of Revenue | 6.84% | 8.01% | 8.41% | 8.46% | 7.66% | 8.14% | 8.29% | 8.54% | 7.86% | 8.59% | 8.74% | 8.67% | 7.48% | 8.9% | 8.91% | 9.39% | 8.06% | 8.46% | 8.61% | 9.39% |
| Other Operating Expenses | 1000K | 1000K | 0 | -1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Operating Income | 1.56B | 1.77B | 1.69B | 1.45B | 1.44B | 1.65B | 1.59B | 1.28B | 1.05B | 1.48B | 1.34B | 1.27B | 1.56B | 1.39B | 1.4B | 1.13B | 1.67B | 1.66B | 1.56B | 859M |
| Operating Margin % | 15.95% | 19.66% | 18.8% | 16.85% | 16.09% | 19.85% | 18.98% | 16.15% | 12.26% | 18.33% | 16.78% | 16.46% | 18.32% | 18.01% | 18.51% | 15.26% | 20.66% | 21.37% | 19.92% | 10.76% |
| Operating Income Growth % | 8.91% | 7.72% | 5.64% | 13.07% | 36.37% | 10.99% | 19.03% | 0.79% | -32.72% | 6.54% | -4.56% | 12.71% | -6.34% | -16.09% | -10.17% | 30.97% | 4.11% | 29.91% | 68.06% | 27.64% |
| EBITDA | 2.19B | 2.68B | 2.27B | 2.19B | 2.28B | 2.33B | 2.27B | 1.94B | 1.71B | 2.13B | 2.01B | 1.94B | 2.24B | 2.07B | 2.08B | 1.79B | 2.36B | 2.33B | 2.24B | 1.53B |
| EBITDA Margin % | 22.32% | 29.7% | 25.38% | 25.57% | 25.5% | 28.1% | 27.01% | 24.51% | 19.87% | 26.36% | 25.2% | 25.19% | 26.26% | 26.8% | 27.36% | 24.33% | 29.16% | 30.03% | 28.53% | 19.16% |
| EBITDA Growth % | -3.82% | 14.94% | 0.18% | 13.04% | 33.33% | 9.29% | 12.82% | 0% | -23.93% | 2.95% | -3.04% | 8.2% | -4.87% | -11.15% | -7.32% | 17.19% | 3.06% | 19.23% | 39.85% | 14.01% |
| D&A (Non-Cash Add-back) | 625M | 905M | 589M | 748M | 840M | 684M | 675M | 662M | 654M | 649M | 672M | 672M | 679M | 679M | 671M | 668M | 688M | 672M | 676M | 671M |
| EBIT | 2.01B | 1.58B | 1.78B | 1.48B | 1.44B | 1.72B | 1.77B | 1.44B | 1.06B | 1.66B | 1.49B | 1.34B | 1.74B | 1.54B | 1.51B | 1.21B | 1.75B | 1.73B | 1.63B | 970M |
| Net Interest Income | -331M | -60M | -181M | -143M | -174M | -179M | -209M | -167M | -202M | -188M | -180M | -148M | -187M | -167M | -118M | -164M | -143M | -137M | -136M | -137M |
| Interest Income | -154M | 121M | 0 | 33M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 177M | 181M | 181M | 176M | 174M | 179M | 209M | 167M | 202M | 188M | 180M | 148M | 187M | 167M | 118M | 164M | 143M | 137M | 136M | 137M |
| Other Income/Expense | 270M | -369M | -89M | -143M | -175M | -106M | -36M | -10M | -197M | -11M | -27M | -72M | -14M | -17M | -9M | -81M | -69M | -70M | -70M | -26M |
| Pretax Income | 1.83B | 1.4B | 1.6B | 1.3B | 1.26B | 1.54B | 1.56B | 1.27B | 856M | 1.47B | 1.31B | 1.2B | 1.55B | 1.38B | 1.4B | 1.04B | 1.6B | 1.59B | 1.49B | 833M |
| Pretax Margin % | 18.7% | 15.57% | 17.81% | 15.18% | 14.13% | 18.57% | 18.55% | 16.02% | 9.97% | 18.2% | 16.45% | 15.53% | 18.15% | 17.79% | 18.39% | 14.16% | 19.8% | 20.47% | 19.03% | 10.43% |
| Income Tax | 575M | 254M | 215M | 255M | 199M | 237M | 281M | 220M | 197M | 135M | 402M | 400M | 362M | 146M | 959M | 112M | 110M | 106M | 176M | 64M |
| Effective Tax Rate % | 31.35% | 18.09% | 13.47% | 19.59% | 15.78% | 15.39% | 18.02% | 17.35% | 23.01% | 9.17% | 30.62% | 33.44% | 23.34% | 10.62% | 68.75% | 10.73% | 6.87% | 6.67% | 11.79% | 7.68% |
| Net Income | 1.24B | 1.14B | 1.37B | 1.04B | 1.06B | 1.29B | 1.27B | 1.04B | 654M | 1.32B | 909M | 791M | 1.18B | 1.22B | 427M | 929M | 1.49B | 1.48B | 1.31B | 763M |
| Net Margin % | 12.67% | 12.67% | 15.33% | 12.12% | 11.84% | 15.61% | 15.11% | 13.16% | 7.61% | 16.34% | 11.39% | 10.27% | 13.8% | 15.81% | 5.63% | 12.6% | 18.36% | 19.06% | 16.71% | 9.55% |
| Net Income Growth % | 17.6% | -11.67% | 8.19% | -0.19% | 61.62% | -2.12% | 39.71% | 31.73% | -44.53% | 8.18% | 112.88% | -14.85% | -20.61% | -17.43% | -67.43% | 21.76% | 9.11% | 16.54% | 168.1% | 56.67% |
| Net Income (Continuing) | 1.26B | 1.15B | 1.38B | 1.05B | 1.06B | 1.3B | 1.28B | 1.05B | 659M | 1.34B | 911M | 797M | 1.19B | 1.23B | 435M | 932M | 1.49B | 1.48B | 1.32B | 769M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 609M | 211M | 204M | 240M | 232M | 228M | 222M | 213M | 206M | 204M | 187M | 188M | 182M | 177M | 177M | 170M | 171M | 171M | 168M | 178M |
| EPS (Diluted) | 0.96 | 0.89 | 1.07 | 0.81 | 0.82 | 1.01 | 0.99 | 0.80 | 0.49 | 0.99 | 0.68 | 0.59 | 0.88 | 0.92 | 0.32 | 0.70 | 1.10 | 1.10 | 0.97 | 0.56 |
| EPS Growth % | 17.07% | -11.88% | 8.08% | 1.25% | 67.35% | 2.02% | 45.59% | 35.59% | -44.32% | 7.61% | 112.5% | -15.71% | -20% | -16.36% | -67.01% | 25% | 10% | 17.02% | 169.44% | 55.56% |
| EPS (Basic) | 0.98 | 0.89 | 1.07 | 0.81 | 0.82 | 1.01 | 0.99 | 0.81 | 0.49 | 0.99 | 0.68 | 0.59 | 0.89 | 0.92 | 0.32 | 0.70 | 1.11 | 1.10 | 0.97 | 0.57 |
| Diluted Shares Outstanding | 1.29B | 1.29B | 1.29B | 1.29B | 1.29B | 1.29B | 1.29B | 1.3B | 1.33B | 1.33B | 1.33B | 1.33B | 1.33B | 1.33B | 1.33B | 1.33B | 1.34B | 1.35B | 1.36B | 1.36B |
| Basic Shares Outstanding | 1.28B | 1.28B | 1.28B | 1.28B | 1.28B | 1.28B | 1.28B | 1.29B | 1.32B | 1.33B | 1.33B | 1.33B | 1.33B | 1.33B | 1.33B | 1.33B | 1.34B | 1.34B | 1.35B | 1.34B |
| Dividend Payout Ratio | 73.05% | 79.7% | 66.23% | 87.5% | 84.86% | 69.32% | 70.63% | 86.18% | 139.6% | 69.36% | 100.99% | 116.06% | 76.76% | 73.98% | 211.71% | 97.2% | 56.77% | 57.23% | 64.61% | 110.88% |