FINHUB Insights

MDT · Q1 FY26 · Apr 26 – Jul 25, 2025

Medtronic Q1 FY26: where the revenue came from and where it went

Medtronic Q1 FY26: revenue $8.6B (+8% year over year). Net profit $1B. Largest cohort Medical Surgical $2.1B. The whole income statement as a sankey diagram from the SEC filing.

Period
Apr 26 – Jul 25, 2025
Reported
Aug 26, 2025 10-Q
Sankey diagram of Medtronic's income statement for Q1 FY26: revenue of $8.6 billion splits into segments and flows out into costs, taxes and net profit.

Tap the diagram to enlarge · figures in billions of dollars

Revenue$8.6B +8% year over year
Gross profit$5.6B 65% margin
Operating profit$1.4B 17% margin
Net profit$1B 12% margin

The numbers

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Jul 25, 2025).
ItemValueShare of revenueYear 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−335%
Gross profit5.665% margin+0pp
SG&A−2.833%−1pp
Other−1.315%+0pp
Operating profit1.417% margin+1pp
Tax−0.2
Interest & other costs−0.2
Net profit112%−1pp
Filing on EDGAR More quarters of MDT

Source of the numbers: tables in the filing (10-Q). The diagram is generated automatically and checked against EDGAR before release. How we calculate it → About and methodology.

Older quarters