FINHUB Insights

MDT · Q2 FY26 · Jul 26 – Oct 24, 2025

Medtronic Q2 FY26: where the revenue came from and where it went

Medtronic Q2 FY26: revenue $9B (+7% year over year). Net profit $1.4B. Largest cohort Cardiovascular $3.4B. The whole income statement as a sankey diagram from the SEC filing.

Period
Jul 26 – Oct 24, 2025
Reported
Nov 25, 2025 10-Q
Sankey diagram of Medtronic's income statement for Q2 FY26: revenue of $9 billion splits into segments and flows out into costs, taxes and net profit.

Tap the diagram to enlarge · figures in billions of dollars

Revenue$9B +7% year over year
Gross profit$5.9B 66% margin
Operating profit$1.7B 19% margin
Net profit$1.4B 15% margin

The numbers

All figures in billions of U.S. dollars, for Q2 FY26 (period ends Oct 24, 2025).
ItemValueShare of revenueYear 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−3.134%
Gross profit5.966% margin+1pp
SG&A−333%+0pp
Other−1.214%+0pp
Operating profit1.719% margin+0pp
Tax−0.2
Interest & other costs−0.1
Net profit1.415%+0pp
Filing on EDGAR More quarters of MDT

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

Older quarters