Medtronic plc

MDT 10-Q · Q1 2026

MDT Q1 2026 request

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Income Statement

Income Statement
Metric Q1 2026 Q1 2025 YoY
Revenue 8,578 7,915 +8.4%
Show Business Segments breakouts
All Other Segments · Non Us 14 19 -26.3%
All Other Segments · Operating Segments 33 38 -13.2%
All Other Segments · US 20 18 +11.1%
Cardiovascular · Cardiac Rhythm & Heart Failure 1,712 1,535 +11.5%
Cardiovascular · Coronary & Peripheral Vascular 643 616 +4.4%
Cardiovascular · Non Us 1,806 1,604 +12.6%
Cardiovascular · Operating Segments 3,285 3,007 +9.2%
Cardiovascular · Structural Heart & Aortic 930 856 +8.6%
Cardiovascular · US 1,479 1,403 +5.4%
Diabetes · Non Us 504 432 +16.7%
Diabetes · Operating Segments 721 647 +11.4%
Diabetes · US 217 215 +0.9%
Medical Surgical · Acute Care & Monitoring 471 452 +4.2%
Medical Surgical · Non Us 1,199 1,115 +7.5%
Medical Surgical · Operating Segments 2,083 1,996 +4.4%
Medical Surgical · Surgical & Endoscopy 1,612 1,544 +4.4%
Medical Surgical · US 884 881 +0.3%
Neuroscience · Cranial & Spinal Technologies 1,211 1,147 +5.6%
Neuroscience · Neuromodulation 504 457 +10.3%
Neuroscience · Non Us 792 752 +5.3%
Neuroscience · Operating Segments 2,416 2,317 +4.3%
Neuroscience · Specialty Therapies 702 713 -1.5%
Neuroscience · US 1,624 1,565 +3.8%
Reportable segment net sales · Non Us 4,301 3,903 +10.2%
Reportable segment net sales · Operating Segments 8,506 7,967 +6.8%
Reportable segment net sales · US 4,205 4,064 +3.5%
Show Geography breakouts
IE 33 30 +10.0%
Non Us 4,354 3,832 +13.6%
Non Us · Consolidation Eliminations 39 -90 +143.3%
Rest of world 4,321 3,803 +13.6%
Total other countries, excluding Ireland 8,545 7,885 +8.4%
US 4,224 4,082 +3.5%
Show Consolidation Items breakouts
Consolidation Eliminations 39 -90 +143.3%
Operating Segments 8,506 7,967 +6.8%
Cost of Revenue 3,001 2,761 +8.7%
Show Business Segments breakouts
Cardiovascular · Operating Segments 1,132 998 +13.4%
Diabetes · Operating Segments 304 272 +11.8%
Medical Surgical · Operating Segments 814 778 +4.6%
Neuroscience · Operating Segments 721 657 +9.7%
Show Consolidation Items breakouts
Operating Segments 2,972 2,706 +9.8%
Research And Development Expense Excluding Acquired In Process Cost 726 676 +7.4%
Show Business Segments breakouts
Cardiovascular · Operating Segments 280 257 +8.9%
Diabetes · Operating Segments 120 101 +18.8%
Medical Surgical · Operating Segments 169 162 +4.3%
Neuroscience · Operating Segments 157 153 +2.6%
Show Consolidation Items breakouts
Operating Segments 725 673 +7.7%
Selling, General & Administrative 2,806 2,655 +5.7%
Show Business Segments breakouts
Cardiovascular · Operating Segments 1,060 978 +8.4%
Diabetes · Operating Segments 274 259 +5.8%
Medical Surgical · Operating Segments 605 591 +2.4%
Neuroscience · Operating Segments 831 808 +2.8%
Show Consolidation Items breakouts
Operating Segments 2,771 2,637 +5.1%
Amortization Of Intangible Assets 459 414 +10.9%
Show Consolidation Items breakouts
Material Reconciling Items 459 414 +10.9%
Restructuring Charges Net Of Restructuring Reversals Including Cost Of Product Sold Impact 45 47 -4.3%
Loss Contingency Accrual Provision 27 81 -66.7%
Show Consolidation Items breakouts
Material Reconciling Items 27 81 -66.7%
Other Operating Income Expense Net 70 1 +6900.0%
Operating Income 1,445 1,278 +13.1%
Show Business Segments breakouts
All Other Segments · Operating Segments 11 13 -15.4%
Cardiovascular · Operating Segments 828 780 +6.2%
Diabetes · Operating Segments 26 24 +8.3%
Medical Surgical · Operating Segments 494 459 +7.6%
Neuroscience · Operating Segments 705 687 +2.6%
Show Consolidation Items breakouts
Operating Segments 2,053 1,950 +5.3%
Other Non-Operating Income (Expense) -33 -157 +79.0%
Show Consolidation Items breakouts
Material Reconciling Items -33 -157 +79.0%
Interest Expense 176 167 +5.4%
Income Before Taxes 1,302 1,268 +2.7%
Income Tax Expense (Benefit) 255 220 +15.9%
Net Income 1,047 1,049 -0.2%
Show Equity Components breakouts
Noncontrolling Interest 7 6 +16.7%
Parent 1,040 1,042 -0.2%
Retained Earnings 1,040 1,042 -0.2%
Net Income Loss Attributable To Noncontrolling Interest -7 -6 -16.7%
Net Income 1,040 1,042 -0.2%
EPS (Basic) 0.81 0.81 0.0%
EPS (Diluted) 0.81 0.8 +1.3%
Wtd Avg Shares (Basic) 1,281.6 1,293.3 -0.9%
Wtd Avg Shares (Diluted) 1,287.1 1,296.5 -0.7%
Comprehensive Income 720 950 -24.2%
Interest Income Expense Net 120 112 +7.1%
Foreign Currency Transaction Gain Loss Before Tax (Q)
Show Consolidation Items breakouts
Material Reconciling Items -47 -10 -370.0%

Balance Sheet

Balance Sheet
Metric Q1 2026 Q1 2025 YoY
Current Assets
Cash & Cash Equivalents 1,273 1,311 -2.9%
Short-Term Investments 6,848 6,532 +4.8%
Accounts Receivable 6,263 6,011 +4.2%
Inventory 5,886 5,414 +8.7%
Other Assets Current 2,952 2,679 +10.2%
Total Current Assets 23,223 21,947 +5.8%
Non-Current Assets
Property, Plant & Equipment 7,006 6,282 +11.5%
Goodwill 42,007
Show Business Segments breakouts
Cardiovascular 8,045
Diabetes 2,255
Medical Surgical 19,952
Neuroscience 11,754
Deferred Tax Assets 3,929 3,554 +10.6%
Other Non-Current Assets 3,585 4,062 -11.7%
Total Assets 90,972
Show Business Segments breakouts
All Other Segments · Operating Segments 202
Cardiovascular · Operating Segments 16,573
Diabetes · Operating Segments 4,209
Medical Surgical · Operating Segments 33,326
Neuroscience · Operating Segments 18,433
Show Consolidation Items breakouts
Corporate Non Segment 18,228
Operating Segments 72,542
Other Assets
Intangible Assets Net Excluding Goodwill 11,223 12,819 -12.5%
Current Liabilities
Debt Current 2,430 1,553 +56.5%
Show Short Term Debt Type breakouts
Commercial Paper 649 449 +44.5%
Accounts Payable 2,555 2,291 +11.5%
Deferred Compensation Liability Current 2,017 1,776 +13.6%
Accrued Income Taxes Current 933 1,063 -12.2%
Other Liabilities Current 3,596 3,604 -0.2%
Total Current Liabilities 11,530 10,287 +12.1%
Non-Current Liabilities
Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent 1,179 1,107 +6.5%
Accrued Income Taxes Noncurrent 1,722 1,917 -10.2%
Deferred Tax Liabilities 416 496 -16.1%
Other Non-Current Liabilities 1,813 1,470 +23.3%
Total Liabilities 42,839 41,589 +3.0%
Long-Term Debt (Q)
Show Debt Instrument breakouts
0.375 percent eight-year 2020 senior notes · Senior Notes 1,175 1,085 +8.3%
0.750 percent twelve-year 2020 senior notes · Senior Notes 1,175 1,085 +8.3%
1.000 percent twelve-year 2019 senior notes · Senior Notes 1,175 1,085 +8.3%
1.125 percent eight-year 2019 senior notes · Senior Notes 1,762 1,628 +8.2%
1.375 percent twenty-year 2020 senior notes · Senior Notes 1,175 1,085 +8.3%
1.500 percent twenty-year 2019 senior notes · Senior Notes 1,175 1,085 +8.3%
1.625 percent thirty-year 2020 senior notes · Senior Notes 1,175 1,085 +8.3%
1.625 percent twelve-year 2019 senior notes · Senior Notes 1,175 1,085 +8.3%
1.750 percent thirty-year 2019 senior notes · Senior Notes 1,175 1,085 +8.3%
3.000 percent six-year 2022 senior notes · Senior Notes 1,175 1,085 +8.3%
3.125 percent nine-year 2022 senior notes · Senior Notes 1,175 1,085 +8.3%
3.375 percent twelve-year 2022 senior notes · Senior Notes 1,175 1,085 +8.3%
3.650 percent five-year 2024 senior notes · Senior Notes 999 922 +8.4%
3.875 percent twelve-year 2024 senior notes · Senior Notes 999 922 +8.4%
4.000 percent thirty-year 2013 senior notes · Senior Notes 305 305 0.0%
4.150 percent nineteen-year 2024 senior notes · Senior Notes 705 651 +8.3%
4.150 percent twenty-nine-year 2024 senior notes · Senior Notes 822 760 +8.2%
4.250 percent five-year 2023 senior notes · Senior Notes 1,000 1,000 0.0%
4.375 percent twenty-year 2015 senior notes · Senior Notes 1,932 1,932 0.0%
4.500 percent ten-year 2023 senior notes · Senior Notes 1,000 1,000 0.0%
4.500 percent thirty-year 2012 senior notes · Senior Notes 105 105 0.0%
4.625 percent thirty-year 2014 senior notes · Senior Notes 127 127 0.0%
4.625 percent thirty-year 2015 senior notes · Senior Notes 1,813 1,813 0.0%
5.550 percent thirty-year 2010 senior notes · Senior Notes 224 224 0.0%
6.500 percent thirty-year 2009 senior notes · Senior Notes 158 158 0.0%
6.550 percent thirty-year 2007 CIFSA senior notes · Senior Notes 253 253 0.0%
Senior Notes 2019 Due 2039, 2.250 Percent [Member] · Senior Notes 1,175 1,085 +8.3%
Other Liabilities
Long Term Debt And Capital Lease Obligations 26,179 26,312 -0.5%
Stockholders' Equity
Additional Paid-In Capital 20,891 20,810 +0.4%
Retained Earnings 31,606 30,547 +3.5%
Accumulated Other Comprehensive Income -4,604 -3,410 -35.0%
Total Stockholders' Equity 47,893 47,947 -0.1%
Minority Interest 240
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 48,133 48,160 -0.1%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment -641 -529 -21.2%
Accumulated Gain Loss Net Cash Flow Hedge Parent -276 165 -267.3%
Accumulated Net Unrealized Investment Gain Loss -44 -136 +67.6%
Accumulated Other Comprehensive Income -4,604 -3,410 -35.0%
Accumulated Translation Adjustment -2,487 -3,584 +30.6%
Additional Paid In Capital 20,891 20,810 +0.4%
Aoci Derivative Qualifying As Hedge Excluded Component Parent -1,156 672 -272.0%
Noncontrolling Interest 240 213 +12.7%
Parent 47,893 47,947 -0.1%
Retained Earnings 31,606 30,547 +3.5%
Total Liabilities & Equity 90,972 89,749 +1.4%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q1 2026 YTD Q1 2025 YoY
Operating Activities
Depreciation & Amortization 748 662 +13.0%
Provision For Doubtful Accounts 28 18 +55.6%
Deferred Income Taxes And Tax Credits 167 88 +89.8%
Stock-Based Compensation 86 83 +3.6%
Other Non-Cash Items 159 -9 +1866.7%
Increase Decrease In Accounts And Notes Receivable 288 110 +161.8%
Change in Inventory -373 -217 -71.9%
Increase Decrease In Accounts Payable And Accrued Liabilities -598 -604 +1.0%
Increase Decrease In Other Operating Capital Net -464 -194 -139.2%
Net Cash from Operations 1,088 986 +10.3%
Change in Deferred Revenue (Q)
Show Geography breakouts
IT 39
Investing Activities
Capital Expenditures -504 -520 +3.1%
Payments To Acquire Investments -2,100 -1,879 -11.8%
Proceeds From Sale Maturity And Collections Of Investments 2,010 2,157 -6.8%
Other Investing Activities -125 -17 -635.3%
Net Cash from Investing -719 -259 -177.6%
Financing Activities
Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less 649 -624 +204.0%
Repayments Of Long Term Debt -1,162
Payments Of Dividends Common Stock -910 -898 -1.3%
Proceeds From Issuance Or Sale Of Equity 95 89 +6.7%
Share Repurchases -123 -2,492 +95.1%
Proceeds From Payments For Other Financing Activities 70 -15 +566.7%
Net Cash from Financing -1,381 -731 -88.9%
Supplemental
Income Taxes Paid 402 394 +2.0%
Interest Paid 81 119 -31.9%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 67 31 +116.1%
Net Change in Cash -945 27 -3600.0%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 1,273 1,311 -2.9%

Values in millions USD. Source: SEC EDGAR 10-Q filing.

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