Medtronic plc

MDT 10-Q · Q3 2026

MDT Q3 2026 request

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Income Statement

Income Statement
Metric Q3 2026 Q3 2025 YoY
Revenue 9,017 8,292 +8.7%
Show Business Segments breakouts
All Other Segments · Non Us 14 17 -17.6%
All Other Segments · Operating Segments 32 32 0.0%
All Other Segments · US 18 15 +20.0%
Cardiovascular · Cardiac Rhythm & Heart Failure 1,856 1,545 +20.1%
Cardiovascular · Coronary & Peripheral Vascular 672 618 +8.7%
Cardiovascular · Non Us 1,868 1,632 +14.5%
Cardiovascular · Operating Segments 3,457 3,037 +13.8%
Cardiovascular · Structural Heart & Aortic 929 874 +6.3%
Cardiovascular · US 1,589 1,405 +13.1%
Diabetes · Non Us 548 457 +19.9%
Diabetes · Operating Segments 796 694 +14.7%
Diabetes · US 248 236 +5.1%
Medical Surgical · Acute Care & Monitoring 519 476 +9.0%
Medical Surgical · Non Us 1,244 1,180 +5.4%
Medical Surgical · Operating Segments 2,173 2,072 +4.9%
Medical Surgical · Surgical & Endoscopy 1,654 1,596 +3.6%
Medical Surgical · US 929 893 +4.0%
Neuroscience · Cranial & Spinal Technologies 1,310 1,250 +4.8%
Neuroscience · Neuromodulation 503 476 +5.7%
Neuroscience · Non Us 849 769 +10.4%
Neuroscience · Operating Segments 2,558 2,458 +4.1%
Neuroscience · Specialty Therapies 746 732 +1.9%
Neuroscience · US 1,709 1,689 +1.2%
Reportable segment net sales · Non Us 4,510 4,038 +11.7%
Reportable segment net sales · Operating Segments 8,985 8,260 +8.8%
Reportable segment net sales · US 4,475 4,223 +6.0%
Show Geography breakouts
IE 36 28 +28.6%
Non Us 4,524 4,055 +11.6%
Rest of world 4,488 4,027 +11.4%
Total other countries, excluding Ireland 8,981 8,264 +8.7%
US 4,493 4,237 +6.0%
Show Consolidation Items breakouts
Operating Segments 8,985 8,260 +8.8%
Cost of Revenue 3,261 2,779 +17.3%
Show Business Segments breakouts
Cardiovascular · Operating Segments 1,159 964 +20.2%
Diabetes · Operating Segments 332 284 +16.9%
Medical Surgical · Operating Segments 867 788 +10.0%
Neuroscience · Operating Segments 815 712 +14.5%
Show Consolidation Items breakouts
Operating Segments 3,173 2,748 +15.5%
Research And Development Expense Excluding Acquired In Process Cost 722 675 +7.0%
Show Business Segments breakouts
Cardiovascular · Operating Segments 284 248 +14.5%
Diabetes · Operating Segments 109 108 +0.9%
Medical Surgical · Operating Segments 174 164 +6.1%
Neuroscience · Operating Segments 153 152 +0.7%
Show Consolidation Items breakouts
Operating Segments 720 672 +7.1%
Selling, General & Administrative 2,956 2,717 +8.8%
Show Business Segments breakouts
Cardiovascular · Operating Segments 1,129 1,010 +11.8%
Diabetes · Operating Segments 300 266 +12.8%
Medical Surgical · Operating Segments 628 605 +3.8%
Neuroscience · Operating Segments 841 820 +2.6%
Show Consolidation Items breakouts
Operating Segments 2,897 2,701 +7.3%
Amortization Of Intangible Assets 441 416 +6.0%
Show Consolidation Items breakouts
Material Reconciling Items 441 416 +6.0%
Restructuring Charges Net Of Restructuring Reversals Including Cost Of Product Sold Impact 77 43 +79.1%
Loss Contingency Accrual Provision 62 22 +181.8%
Show Consolidation Items breakouts
Material Reconciling Items 62 22 +181.8%
Other Operating Income Expense Net 35 -5 +800.0%
Operating Income 1,464 1,646 -11.1%
Show Business Segments breakouts
All Other Segments · Operating Segments -1 13 -107.7%
Cardiovascular · Operating Segments 899 828 +8.6%
Diabetes · Operating Segments 57 50 +14.0%
Medical Surgical · Operating Segments 499 512 -2.5%
Neuroscience · Operating Segments 737 762 -3.3%
Show Consolidation Items breakouts
Operating Segments 2,192 2,151 +1.9%
Other Non-Operating Income (Expense) -121 -72 -68.1%
Show Consolidation Items breakouts
Material Reconciling Items -121 -72 -68.1%
Interest Expense 181 179 +1.1%
Income Before Taxes 1,404 1,540 -8.8%
Income Tax Expense (Benefit) 254 237 +7.2%
Net Income 1,150 1,303 -11.7%
Show Equity Components breakouts
Noncontrolling Interest 6 9 -33.3%
Parent 1,143 1,294 -11.7%
Retained Earnings 1,143 1,294 -11.7%
Net Income Loss Attributable To Noncontrolling Interest -6 -9 +33.3%
Net Income 1,143 1,294 -11.7%
EPS (Basic) 0.89 1.01 -11.9%
EPS (Diluted) 0.89 1.01 -11.9%
Wtd Avg Shares (Basic) 1,282.6 1,282.4 0.0%
Wtd Avg Shares (Diluted) 1,289.5 1,286.2 +0.3%
Operating Expenses (Q)
Show Consolidation Items breakouts
Operating Segments 1
Comprehensive Income 1,088 1,705 -36.2%
Interest Income Expense Net 85 114 -25.4%
Foreign Currency Transaction Gain Loss Before Tax (Q)
Show Consolidation Items breakouts
Material Reconciling Items -13 4 -425.0%

Balance Sheet

Balance Sheet
Metric Q3 2026 Q3 2025 YoY
Current Assets
Cash & Cash Equivalents 1,147 1,240 -7.5%
Short-Term Investments 7,236 6,682 +8.3%
Accounts Receivable 6,359 6,115 +4.0%
Inventory 6,309 5,610 +12.5%
Other Assets Current 3,020 2,865 +5.4%
Total Current Assets 24,071 22,513 +6.9%
Non-Current Assets
Property, Plant & Equipment 7,179 6,593 +8.9%
Goodwill 41,892
Show Business Segments breakouts
Cardiovascular 8,037
Diabetes 2,256
Medical Surgical 19,842
Neuroscience 11,757
Deferred Tax Assets 3,967 3,614 +9.8%
Other Non-Current Assets 4,041 4,250 -4.9%
Total Assets 91,485
Show Business Segments breakouts
All Other Segments · Operating Segments 207
Cardiovascular · Operating Segments 16,748
Diabetes · Operating Segments 4,312
Medical Surgical · Operating Segments 32,748
Neuroscience · Operating Segments 18,447
Show Consolidation Items breakouts
Corporate Non Segment 19,023
Operating Segments 72,255
Other Assets
Intangible Assets Net Excluding Goodwill 10,335 12,184 -15.2%
Current Liabilities
Debt Current 191 2,622 -92.7%
Show Short Term Debt Type breakouts
Commercial Paper 140
Accounts Payable 2,569 2,286 +12.4%
Deferred Compensation Liability Current 2,581 2,281 +13.2%
Accrued Income Taxes Current 650 1,125 -42.2%
Other Liabilities Current 3,504 3,526 -0.6%
Total Current Liabilities 9,495 11,840 -19.8%
Non-Current Liabilities
Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent 1,191 1,063 +12.0%
Accrued Income Taxes Noncurrent 1,587 1,485 +6.9%
Deferred Tax Liabilities 365 452 -19.2%
Other Non-Current Liabilities 1,770 1,533 +15.5%
Total Liabilities 42,289 40,358 +4.8%
Long-Term Debt (Q)
Show Debt Instrument breakouts
0.375 percent eight-year 2020 senior notes · Senior Notes 1,171 1,042 +12.4%
0.750 percent twelve-year 2020 senior notes · Senior Notes 1,171 1,042 +12.4%
1.000 percent twelve-year 2019 senior notes · Senior Notes 1,171 1,042 +12.4%
1.125 percent eight-year 2019 senior notes · Senior Notes 1,757 1,563 +12.4%
1.375 percent twenty-year 2020 senior notes · Senior Notes 1,171 1,042 +12.4%
1.500 percent twenty-year 2019 senior notes · Senior Notes 1,171 1,042 +12.4%
1.625 percent thirty-year 2020 senior notes · Senior Notes 1,171 1,042 +12.4%
1.625 percent twelve-year 2019 senior notes · Senior Notes 1,171 1,042 +12.4%
1.750 percent thirty-year 2019 senior notes · Senior Notes 1,171 1,042 +12.4%
2.950 percent five-year 2025 senior notes · Senior Notes 878
3.000 percent six-year 2022 senior notes · Senior Notes 1,171 1,042 +12.4%
3.125 percent nine-year 2022 senior notes · Senior Notes 1,171 1,042 +12.4%
3.375 percent twelve-year 2022 senior notes · Senior Notes 1,171 1,042 +12.4%
3.650 percent five-year 2024 senior notes · Senior Notes 996 886 +12.4%
3.875 percent twelve-year 2024 senior notes · Senior Notes 996 886 +12.4%
4.000 percent thirty-year 2013 senior notes · Senior Notes 305 305 0.0%
4.150 percent nineteen-year 2024 senior notes · Senior Notes 703 625 +12.5%
4.150 percent twenty-nine-year 2024 senior notes · Senior Notes 820 729 +12.5%
4.200 percent twenty-year 2025 senior notes · Senior Notes 878
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 1,171 1,042 +12.4%
Other Liabilities
Long Term Debt And Capital Lease Obligations 27,880 23,985 +16.2%
Stockholders' Equity
Additional Paid-In Capital 21,012 20,910 +0.5%
Retained Earnings 32,303 31,317 +3.1%
Accumulated Other Comprehensive Income -4,330 -2,839 -52.5%
Total Stockholders' Equity 48,985 49,387 -0.8%
Minority Interest 211 228 -7.5%
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 49,196 49,615 -0.8%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment -636 -527 -20.7%
Accumulated Gain Loss Net Cash Flow Hedge Parent -116 432 -126.9%
Accumulated Net Unrealized Investment Gain Loss -1 -102 +99.0%
Accumulated Other Comprehensive Income -4,330 -2,839 -52.5%
Accumulated Translation Adjustment -2,630 -4,129 +36.3%
Additional Paid In Capital 21,012 20,910 +0.5%
Aoci Derivative Qualifying As Hedge Excluded Component Parent -947 1,488 -163.6%
Noncontrolling Interest 211 228 -7.5%
Parent 48,985 49,387 -0.8%
Retained Earnings 32,303 31,317 +3.1%
Total Liabilities & Equity 91,485 89,973 +1.7%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q3 2026 YTD Q3 2025 YoY
Operating Activities
Depreciation & Amortization 2,242 2,021 +10.9%
Provision For Doubtful Accounts 102 96 +6.2%
Deferred Income Taxes And Tax Credits 59 -81 +172.8%
Stock-Based Compensation 362 340 +6.5%
Other Non-Cash Items 280 14 +1900.0%
Increase Decrease In Accounts And Notes Receivable 87 -184 +147.3%
Change in Inventory -803 -478 -68.0%
Increase Decrease In Accounts Payable And Accrued Liabilities -77 -157 +51.0%
Increase Decrease In Other Operating Capital Net -1,074 -685 -56.8%
Net Cash from Operations 4,757 4,516 +5.3%
Change in Deferred Revenue (YTD)
Show Geography breakouts
IT 39
Investing Activities
Capital Expenditures -1,416 -1,400 -1.1%
Payments To Acquire Investments -6,572 -6,093 -7.9%
Proceeds From Sale Maturity And Collections Of Investments 5,982 6,255 -4.4%
Other Investing Activities -10 -111 +91.0%
Net Cash from Investing -2,017 -1,447 -39.4%
Financing Activities
Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less 173 -1,070 +116.2%
Proceeds From Issuance Of Long Term Debt 1,747 3,209 -45.6%
Repayments Of Long Term Debt -2,930
Payments Of Dividends Common Stock -2,731 -2,692 -1.4%
Proceeds From Issuance Or Sale Of Equity 419 400 +4.8%
Share Repurchases -600 -2,961 +79.7%
Proceeds From Payments For Other Financing Activities 60 96 -37.5%
Net Cash from Financing -3,863 -3,018 -28.0%
Supplemental
Income Taxes Paid 1,598 1,515 +5.5%
Interest Paid 573 567 +1.1%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 52 -95 +154.7%
Net Change in Cash -1,072 -44 -2336.4%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 1,147 1,240 -7.5%

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

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