Medtronic (MDT) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Medtronic

NYSE•Healthcare•Medical Devices

$92.77+0.17(<0.01%)Pre-market

Market Cap

$118.73B

P/E

22.7x

P/S

3.2x

P/B

2.4x

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients in the United States, Ireland, and internationally. It operates through three segments: The Cardiovascular Portfolio, Neuroscience Portfolio, and Medical Surgical Portfolio. The Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software. It also provides aortic valves, surgical valve replacement and repair products, endovascular stent grafts and accessories, and transcatheter pulmonary valves, left atrial appendage exclusion systems, extracorporeal membrane oxygenation (ECMO) systems and percutaneous coronary intervention products, percutaneous angioplasty balloons, and endovenous products. The Neuroscience Portfolio segment offers medical devices and implants, biologic solutions, spinal cord stimulation and brain modulation systems, implantable drug infusion systems, and interventional products, as well as nerve ablation system under the Accurian name. This segment offers its products for spinal surgeons, neurosurgeons, neurologists, pain management specialists, anesthesiologists, orthopedic surgeons, urologists, urogynecologists, and interventional radiologists, as well as ear, nose, and throat specialists, and energy surgical instruments. The Medical Surgical Portfolio segment offers surgical stapling devices, vessel sealing instruments, wound closure and electrosurgery products, AI-powered surgical video and analytics platform, robotic-assisted surgery products, hernia mechanical devices, mesh implants, gynecology products, gastrointestinal and hepatologic diagnostics and therapies, and therapies to treat diseases and conditions, and patient monitoring and airway management products, as well as insulin pumps and consumables, continuous glucose monitoring systems, and sensors. Medtronic plc was founded in 1949 and is headquartered in Galway, Ireland.

How this company scores

GoodMetricSide Score: 78/100

Strongest: Cash & Earnings Quality (25/25); weakest: Balance Sheet & Red Flags (14/25).

Profitability20/25

Growth19/25

Balance Sheet & Red Flags14/25

Cash & Earnings Quality25/25

Strengths

Rising free cash flowStrong marginsCash-backed earningsConsistent free cash flow

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 22.7x5y range 22.4x – 32.4x

Currently near its 20-quarter median.

P/S · 3.2x5y range 3.0x – 3.8x

Currently near its 20-quarter median.

P/B · 2.4x5y range 2.2x – 2.7x

Currently near its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.

Price & Volume

Market Cap $118.73B

Metrics at a Glance

as of July 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $37.54B
Q. Revenue: $9.76B
TTM EBITDA: $9.72B
TTM Op. Income: $6.79B
Q. Op. Income: $1.76B
TTM Net Income: $5.23B
Q. Net Income: $1.47B
EPS: $1.15
Shares Out.: $1.28B

$37.54B in TTM revenue grew 9.8% YoY, reaching $9.76B last quarter. TTM EBITDA of $9.72B and TTM operating income of $6.79B show growth is flowing through to the bottom line. TTM net income of $5.23B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 65.0%
EBITDA Margin: 25.6%
Op. Margin: 18.1%
Net Margin: 15.1%

Op. margin of 18.1% is up 1.2% YoY — cost efficiency is improving. Net margin at 15.1% and gross margin of 65.0% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 7% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 22.7x
P/S Ratio: 3.2x
P/B Ratio: 2.4x

At 22.7x P/E, the stock trades within typical market levels. P/S of 3.2x and P/B of 2.4x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 11% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $93.31B
Cash: $1.69B
Long-Term Debt: $25.62B
Book Value: $50.23B
D/E Ratio: 0.5
Debt/EBITDA: 10.3

With $93.31B in assets and $25.62B in long-term debt, D/E is 0.5and book value is $50.23B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 2 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $1.79B
TTM Free Cash Flow: $6.13B
FCF Margin: 16.3%
FCF / Net Income: 1.2

TTM FCF of $6.13B on $1.79B in operating cash flow. The FCF / Net Income ratio of 1.2x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 3 consecutive quarters — an improving trend.