Medtronic

MDT · Health Care · Market cap $110B

Q4 FY26 Jan 24 – Apr 24, 2026 reported Jun 18, 2026

Revenue$9.8B +10% year over year

Gross profit$6.4B

Operating profit$1.9B

Net profit$1.2B 13% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q4 FY26 (period ends Apr 24, 2026).
Item	Value	Share of revenue	Year over year
Revenue	9.8	100%	+10%
Cardiovascular	3.8	39%	+14%
Neuroscience Group	2.8	29%	+5%
Medical Surgical	2.4	24%	+8%
Diabetes Group	0.8	8%	+15%
Cost of revenue	−3.4	35%
Gross profit	6.4	65% margin	+1pp
SG&A	−3.1	31%	+1pp
Other	−1.5	15%	+0pp
Operating profit	1.9	19% margin	+3pp
Tax	−0.6
Interest & other costs	−0.1
Net profit	1.2	13%	+1pp

All figures in billions of U.S. dollars, for Q3 FY26 (period ends Jan 23, 2026).
Item	Value	Share of revenue	Year over year
Revenue	9	100%	+9%
Cardiovascular	3.5	39%	+14%
Neuroscience Group	2.6	29%	+4%
Medical Surgical	2.2	24%	+5%
Diabetes Group	0.8	9%	+15%
Cost of revenue	−3.3	37%
Gross profit	5.8	64% margin	−3pp
SG&A	−3	33%	+0pp
Other	−1.3	15%	+0pp
Operating profit	1.5	16% margin	−4pp
Tax	−0.3
Interest & other costs	−0.1
Net profit	1.1	13%	−3pp

All figures in billions of U.S. dollars, for Q2 FY26 (period ends Oct 24, 2025).
Item	Value	Share of revenue	Year over year
Revenue	9	100%	+7%
Cardiovascular	3.4	38%	+11%
Neuroscience Group	2.6	29%	+5%
Medical Surgical	2.2	24%	+2%
Diabetes Group	0.8	9%	+10%
Cost of revenue	−3.1	34%
Gross profit	5.9	66% margin	+1pp
SG&A	−3	33%	+0pp
Other	−1.2	14%	+0pp
Operating profit	1.7	19% margin	+0pp
Tax	−0.2
Interest & other costs	−0.1
Net profit	1.4	15%	+0pp

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Jul 25, 2025).
Item	Value	Share of revenue	Year over year
Revenue	8.6	100%	+8%
Medical Surgical	2.1	24%
Cardiac Rhythm & Heart Failure	1.7	20%	+12%
Cranial & Spinal Technologies	1.2	14%	+6%
Structural Heart & Aortic	0.9	10%	+9%
Diabetes	0.7	8%	+11%
Specialty Therapies	0.7	8%	−2%
Coronary & Peripheral Vascular	0.6	7%	+4%
Neuromodulation	0.5	6%	+10%
Cost of revenue	−3	35%
Gross profit	5.6	65% margin	+0pp
SG&A	−2.8	33%	−1pp
Other	−1.3	15%	+0pp
Operating profit	1.4	17% margin	+1pp
Tax	−0.2
Interest & other costs	−0.2
Net profit	1	12%	−1pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q4 FY26	Jan 24 – Apr 24, 2026	Jun 18, 2026	$9.8B	+10%	19%	$1.2B	13%
Q3 FY26	Jan 23, 2026	Feb 24, 2026	$9B	+9%	17%	$1.1B	13%
Q2 FY26	Jul 26 – Oct 24, 2025	Nov 25, 2025	$9B	+7%	19%	$1.4B	15%
Q1 FY26	Apr 26 – Jul 25, 2025	Aug 26, 2025	$8.6B	+8%	16%	$1B	12%