Medtronic plc
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MDT Q1 2026 request
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Income Statement
| Metric | Q1 2026 | Q1 2025 | YoY |
|---|---|---|---|
| Revenue | 8,578 | 7,915 | +8.4% |
Show Business Segments breakouts |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| Operating Segments | 2,972 | 2,706 | +9.8% |
| Research And Development Expense Excluding Acquired In Process Cost | 726 | 676 | +7.4% |
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| 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 |
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| Operating Segments | 725 | 673 | +7.7% |
| Selling, General & Administrative | 2,806 | 2,655 | +5.7% |
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| 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 |
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| Operating Segments | 2,771 | 2,637 | +5.1% |
| Amortization Of Intangible Assets | 459 | 414 | +10.9% |
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| 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% |
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| 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 |
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| 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 |
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| Operating Segments | 2,053 | 1,950 | +5.3% |
| Other Non-Operating Income (Expense) | -33 | -157 | +79.0% |
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| 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 |
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| 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 |
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| Material Reconciling Items | -47 | -10 | -370.0% |
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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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
| 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 |
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| 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.