Filing Flows › Medline (MDLN) › Q3 2026 › vs Q3 2025
Medline (MDLN) Q3 2026 vs Q3 2025 (year over year)
Medline's revenue rose $741M (+10%) from $7.1B in Q3 2025 to $7.9B in Q3 2026. Gross margin 24.5% against 26.4% (-1.8 pts).
Medline, Q3 2026: revenue $7.9B (+10% year over year), operating margin 6.4%, net earnings $198M, operating cash flow $1.0B. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 24.5% | 26.4% | -1.8 pts |
| Operating margin | 6.4% | 8.1% | -1.7 pts |
| Net margin | 2.5% | 4.5% | -1.9 pts |
| Free cash flow margin | 11.3% | 7.5% | +3.7 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $7.9B | $7.1B | $741M | +10% |
| Gross profit | $1.9B | $1.9B | $50.0M | +3% |
| Cost of revenue | $5.9B | $5.2B | $691M | +13% |
| Operating profit | $500M | $574M | −$74.0M | -13% |
| Operating expenses | $1.4B | $1.3B | $124M | +10% |
| Pre-tax earnings | $386M | $341M | $45.0M | +13% |
| Other expense, net | $114M | $233M | −$119M | -51% |
| SG&A | $1.3B | $1.1B | $143M | +13% |
| Other operating costs | $166M | $185M | −$19.0M | -10% |
| Net earnings | $198M | $318M | −$120M | -38% |
| Minority interests | $120M | $0 | $120M | — |
| Income tax | $68.0M | $23.0M | $45.0M | +196% |
| Depreciation & amortization | $259M | $253M | $6.0M | +2% |
| Share-based compensation | $29.0M | $15.0M | $14.0M | +93% |
| Working capital & other | $539M | $50.0M | $489M | +978% |
| Operating cash flow | $1.0B | $636M | $389M | +61% |
| Free cash flow (OCF − capex) | $884M | $535M | $349M | +65% |
| Capital expenditures | $141M | $101M | $40.0M | +40% |
Questions
How much did Medline's revenue grow year over year in Q3 2026?
Medline's revenue rose $741M (+10%) from $7.1B in Q3 2025 to $7.9B in Q3 2026. Gross margin 24.5% against 26.4% (-1.8 pts).