Filing Flows › Medtronic (MDT) › Q4 FY26 › vs Q4 FY25
Medtronic (MDT) Q4 FY26 vs Q4 FY25 (year over year)
Medtronic's revenue rose $880M (+10%) from $8.9B in Q4 FY25 to $9.8B in Q4 FY26. Operating margin 19.1% against 16.1% (+3.0 pts).
Medtronic, Q4 FY26: revenue $9.8B (+10% year over year), operating margin 19.1%, net earnings $1.2B, operating cash flow $2.6B. The chart draws each line against Q4 FY25, the increases inside each band.
Margins
| Q4 FY26 | Q4 FY25 | Change | |
|---|---|---|---|
| Operating margin | 19.1% | 16.1% | +3.0 pts |
| Net margin | 12.7% | 11.8% | +0.9 pts |
| Free cash flow margin | 21.3% | 23.2% | -1.9 pts |
Every line
| Line | Q4 FY26 | Q4 FY25 | Change | % |
|---|---|---|---|---|
| Revenue | $9.8B | $8.9B | $880M | +10% |
| Operating profit | $1.9B | $1.4B | $437M | +30% |
| Costs & expenses | $7.9B | $7.5B | $443M | +6% |
| Pre-tax earnings | $1.8B | $1.3B | $573M | +45% |
| Other expense, net | $39.0M | $175M | −$136M | -78% |
| Cost of revenue | $3.4B | $3.1B | $251M | +8% |
| Research & development | $671M | $684M | −$13.0M | -2% |
| SG&A | $3.1B | $2.7B | $337M | +12% |
| Other operating costs | $808M | $940M | −$132M | -14% |
| Net earnings | $1.2B | $1.1B | $188M | +18% |
| Minority interests | $15.0M | $5.0M | $10.0M | +200% |
| Income tax | $575M | $199M | $376M | +189% |
| Depreciation & amortization | $716M | $840M | −$124M | -15% |
| Share-based compensation | $95.0M | $89.0M | $6.0M | +7% |
| Working capital & other | $518M | $543M | −$25.0M | -5% |
| Operating cash flow | $2.6B | $2.5B | $45.0M | +2% |
| Free cash flow (OCF − capex) | $2.1B | $2.1B | $16.0M | +0.8% |
| Capital expenditures | $488M | $459M | $29.0M | +6% |
Questions
How much did Medtronic's revenue grow year over year in Q4 FY26?
Medtronic's revenue rose $880M (+10%) from $8.9B in Q4 FY25 to $9.8B in Q4 FY26. Operating margin 19.1% against 16.1% (+3.0 pts).