Medtronic Q2 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
- Jul 26 – Oct 24, 2025
- Reported
- Nov 25, 2025
Revenue$8.96B
+7% year over year
Gross profit$5.90B
66% margin
Operating profit$1.69B
19% margin
Net profit$1.37B
15% margin
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 8.96 | 100% | +7% |
| Cardiovascular | 3.44 | 38% | +11% |
| Neuroscience group | 2.56 | 29% | +5% |
| Medical surgical | 2.17 | 24% | +2% |
| Diabetes group | 0.76 | 9% | +10% |
| All other | 0.04 | 0% | −5% |
| Cost of revenue | −3.06 | 34% | |
| Gross profit | 5.90 | 66% margin | +1pp |
| SG&A | −2.97 | 33% | +0pp |
| Other | −1.25 | 14% | +0pp |
| Operating profit | 1.69 | 19% margin | +0pp |
| Interest & other costs | −0.10 | ||
| Tax | −0.22 | ||
| Net profit | 1.37 | 15% margin | +0pp |
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