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Medtronic (MDT) Q4 FY26 earnings results (fourth quarter fiscal 2026)
10-K filed Jun 18, 2026
Medtronic (MDT) reported revenue of $9.8B for the fourth quarter fiscal 2026 (Q4 FY26), +10% from a year earlier and +9% from the quarter before. Operating margin was 19.1%, net earnings $1.2B (12.7% of revenue).
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 follows the revenue to costs, profit and cash.
| Q4 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $9.8B | +9% | +10% |
| Operating profit | $1.9B | +28% | +30% |
| Net earnings | $1.2B | +9% | +18% |
| Operating cash flow | $2.6B | -6% | +2% |
| Free cash flow | $2.1B | -9% | +0.8% |
What changed
Revenue was $9.8B in Q4 FY26, up 10% year over year and up 9% from the previous quarter.
Operating profit was $1.9B, a 19.1% margin (up 3.0 points year over year). Of the extra revenue versus Q4 FY25, 50% reached operating profit, above the 16% margin then. Total costs grew 6% against revenue growth of 10%. The fastest-growing cost line was SG&A (+12%). Net earnings were $1.2B, up 18% year over year. The effective tax rate was 31.4%.
Operating cash flow was $2.6B (up 2% year over year), 204% of net earnings. Non-cash charges added back $0.72B of depreciation and amortization and $0.10B of share-based compensation. Working capital and other items added $0.50B. Capital expenditures of $0.49B left free cash flow of $2.1B.
Questions
What was Medtronic's revenue in the fourth quarter fiscal 2026?
Medtronic (MDT) reported revenue of $9.8B for the fourth quarter fiscal 2026 (Q4 FY26), +10% from a year earlier and +9% from the quarter before.
Was Medtronic profitable in the fourth quarter fiscal 2026?
Operating profit was $1.9B (19.1% of revenue) and net earnings $1.2B.
Source: Medtronic 10-K on SEC EDGAR.