tickdelta
Sign in
Screener / SEC EDGAR /CIK 0001613103 /10-K filed Jun 18, 2026, compared with Jun 20, 2025 /Numbers from the XBRL of the 10-Ks
Health care peers:
AMGNMDTGILDDHRABTTMO
NYSE Health care · Medical Devices

Medtronic MDT

MDT quote by TradingView

Medtronic plc, headquartered in Galway, Ireland, is the leading global healthcare technology company. 10-K, Item 1

Headquarters
Galway
CEO
Geoffrey Martha
Next results
around Nov 17, 2026
Compare with peers Embed

Where each dollar of revenue went, FY2026

Revenue of $36.4B through the costs to a net profit of $4.8B · income statement of the 10-K

18% operating margin
Revenue to Gross profit: $23.6BRevenue to Cost of revenue: $12.7BGross profit to Operating profit: $6.5BGross profit to Operating expenses: $17.2BOperating profit to Net profit: $4.8BOperating profit to Tax & other: $1.7BOperating expenses to R&D: $2.9BOperating expenses to Sales, admin & other: $14.3B Revenue: $36.4B REVENUE $36.4B +8% Y/Y Gross profit: $23.6B · 65% margin GROSS PROFIT $23.6B 65% margin Cost of revenue: $12.7B · 35% of revenue COST OF REVENUE $12.7B 35% of revenue Operating profit: $6.5B · 18% margin OPERATING PROFIT $6.5B 18% margin · +9% Y/Y Operating expenses: $17.2B · 47% of revenue OPERATING EXPENSES $17.2B 47% of revenue Net profit: $4.8B · 13% margin NET PROFIT $4.8B 13% margin · +3% Y/Y Tax & other: $1.7B · 5% of revenue TAX & OTHER $1.7B 5% of revenue R&D: $2.9B · 8% of revenue R&D $2.9B 8% of revenue Sales, admin & other: $14.3B · 39% of revenue SALES, ADMIN & OTHER $14.3B 39% of revenue
Gross profit $23.6B 65% margin
Operating profit $6.5B 18% margin · +9% Y/Y
Net profit $4.8B 13% margin · +3% Y/Y
The full income statement, year by year

MDT among Health care peers

Six ratios from the latest 10-K. Each corner is the share of 59 peers the company is above, not a score.

Compare
Revenue growth: 8.4%, above 58% of 59 peers (their median 7.1%) REVENUE GROWTH 8.4% · above 58% Gross margin: 65.0%, above 50% of 50 peers (their median 64.4%) GROSS MARGIN 65.0% · above 50% Operating margin: 18.1%, above 62% of 50 peers (their median 13.4%) OPERATING MARGIN 18.1% · above 62% Net margin: 13.9%, above 63% of 59 peers (their median 9.5%) NET MARGIN 13.9% · above 63% FCF margin: 16.3%, above 56% of 55 peers (their median 15.2%) FCF MARGIN 16.3% · above 56% Return on capital: 6.5%, above 20% of 41 peers (their median 9.2%) RETURN ON CAPITAL 6.5% · above 20%
MDT Peer median Below the median

What changed

14 new risk paragraphs. 10-K filed Jun 18, 2026 against Jun 20, 2025.

Risk factors
14 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Accounting checks
11 other checks clear
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
1 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

11 checks on the latest 10-K. Checks, not verdicts.

How it works

0facts worth reading about all 11 checks found nothing to note

  • Receivables +2.0% vs revenue +8.4% (-6.5 pts)
  • Cash from operations $7.3B vs net income $4.8B (FY ending Apr 24, 2026)
  • Inventory +8.7% vs revenue +8.4% (+0.2 pts)
8 more checks with nothing to note
  • Same auditor in both 10-Ks: PricewaterhouseCoopers LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • The same matters as last year: Income Tax Reserve for the Uncertain Tax Position Related to Puerto Rico Manufacturing
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

14 paragraphs in Risk Factors that were not in the 10-K filed Jun 20, 2025. Quoted as filed.

All 14 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Jun 20, 2025 10-K, ITEM 1A
    In addition to competition from individual products or companies, rapid technological change may drive shifts in standards of care, physician preferences, purchasing decisions, or site of service dynamics more quickly than anticipated, including the growth of ASCs. New or alternative technologies, therapies, or treatment modalities may…
  2. Item 1A · new paragraph · not in the 10-K filed Jun 20, 2025 10-K, ITEM 1A
    Our devices, products, and therapies are purchased principally by hospitals or physicians that typically bill various third-party payors, such as governmental healthcare programs (e.g., Medicare, Medicaid and comparable non-U.S. programs), private insurance plans and managed care plans, for the healthcare services provided to their…
  3. Item 1A · new paragraph · not in the 10-K filed Jun 20, 2025 10-K, ITEM 1A
    We are subject to litigation, claims, investigations, and regulatory proceedings, which are inherently unpredictable and could materially adversely affect our business, results of operations, financial condition, and cash flows. We are, and may in the future be, involved in litigation, claims, disputes, and regulatory or administrative…
  4. Item 1A · new paragraph · not in the 10-K filed Jun 20, 2025 10-K, ITEM 1A
    Although we expect to be able to rely on applicable tax treaties with the U.S., Ireland, and other jurisdictions in which we have operations, legislative or other action could be taken to override or amend one or more such treaties in a manner that would limit or eliminate our ability to rely on them. This could subject us to increased…

New risk paragraphs, against peers

Latest 10-K of each, Health care companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2023FY2024FY2025FY2026
Revenue$31.2B$32.4B$33.5B$36.4B
Net income$3.8B$3.7B$4.7B$4.8B
Operating cash flow$6.0B$6.8B$7.0B$7.3B
Free cash flow$4.6B$5.2B$5.2B$5.4B

Revenue, FY2017 to FY2026

Ten fiscal years, each from its own 10-K · XBRL · USD

$36.4B ▲ 8.4% in FY2026

FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Every number, year by year

Recent filings

1 filing in the last 30 days · SEC EDGAR

All filings

About the company

Medtronic, Galway · from the 10-K filed Jun 18, 2026

Medtronic plc, headquartered in Galway, Ireland, is the leading global healthcare technology company. Medtronic was founded in 1949 and today serves healthcare systems, physicians, clinicians, and patients in more than 150 countries worldwide. We remain committed to a mission written by our founder in 1960 that directs us “to contribute to human welfare by the application of biomedical engineering in the research, design, manufacture, and sale of products to alleviate pain, restore health, and extend life.”

Headquarters
Galway
Reports in
USD
Listed on
NYSE
Fiscal year ends
April 24
Last results
Sep 1, 2026

Email alerts

Sources

The 10-K filed Jun 18, 2026 (open at SEC), compared with the 10-K filed Jun 20, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

Work with it: Excel workbook · CSV. Google Sheet that stays up to date: paste =IMPORTDATA("https://tickdelta.com/company/MDT/export.csv") into a cell.