Medtronic Q1 FY26: where the revenue came from and where it went
The whole income statement of Medtronic for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Apr 26 – Jul 25, 2025
- Reported
- Aug 26, 2025
Revenue$8.6B
+8% year over year
Gross profit$5.6B
65% margin
Operating profit$1.4B
17% margin
Net profit$1.0B
12% margin
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 8.6 | 100% | +8% |
| Medical surgical | 2.1 | 24% | |
| Cardiac rhythm | 1.7 | 20% | |
| Cranial | 1.2 | 14% | |
| Structural heart & aortic | 0.9 | 11% | |
| Diabetes | 0.7 | 8% | |
| Specialty therapies | 0.7 | 8% | |
| Coronary | 0.6 | 8% | |
| Other revenue | 0.6 | 7% | |
| Cost of revenue | −3.0 | 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 |
| Interest & other costs | −0.2 | ||
| Tax | −0.3 | ||
| Net profit | 1.0 | 12% margin | −1pp |
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