financial statements

The full income statement, balance sheet, and cash-flow statement for Medtronic plc. (MDT), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofApr 25 ’25	as ofApr 26 ’24	as ofApr 28 ’23	as ofApr 29 ’22	as ofApr 30 ’21
Revenue	33.5B YoY+3.6%	32.4B YoY+3.6%	31.2B YoY-1.4%	31.7B YoY+5.2%	30.1B YoY+4.2%
Cost of revenue	11.6B YoY+3.7%	11.2B YoY+4.6%	10.7B YoY+5.7%	10.1B YoY-3.2%	10.5B YoY+11.2%
Research & development	2.73B YoY-0.1%	2.73B YoY+1.4%	2.70B YoY-1.8%	2.75B YoY+10.1%	2.49B YoY+6.9%
Selling, general & administrative	10.8B YoY+1.1%	10.7B YoY+3.1%	10.4B YoY+1.2%	10.3B YoY+1.4%	10.1B YoY+0.4%
Restructuring	—	389M YoY-39.9%	647M YoY+93.1%	335M YoY-37.8%	539M YoY+16.7%
Amortization of intangibles	1.81B YoY+6.7%	1.69B YoY-0.3%	1.70B YoY-2.0%	1.73B YoY-2.8%	1.78B YoY+1.5%
Provision for credit losses	123M YoY+36.7%	90.0M YoY+23.3%	73.0M YoY+25.9%	58.0M YoY-54.7%	128M YoY+29.3%
Operating income	5.96B YoY+15.8%	5.14B YoY-6.2%	5.49B YoY-4.6%	5.75B YoY+28.3%	4.48B YoY-6.4%
Interest expense	729M YoY+1.4%	719M YoY+13.1%	636M YoY+15.0%	553M YoY-40.2%	925M YoY-15.3%
Net interest income	511M YoY-14.4%	597M YoY+54.7%	386M YoY+107.5%	186M	—
Other non-operating income	402M YoY-2.4%	412M YoY-20.0%	515M YoY+61.9%	318M YoY-5.4%	336M YoY-5.6%
Pre-tax income	5.63B YoY+16.4%	4.84B YoY-9.8%	5.36B YoY-2.8%	5.52B YoY+41.6%	3.90B YoY-3.9%
Income tax	936M YoY-17.4%	1.13B YoY-28.3%	1.58B YoY+246.5%	456M YoY+72.1%	265M YoY+135.3%
	4.66B YoY+26.8%	3.68B YoY-2.2%	3.76B YoY-25.4%	5.04B YoY+39.7%	3.61B YoY-24.7%
Net income to non-controlling interest	29.0M YoY+3.6%	28.0M YoY+7.7%	26.0M YoY+18.2%	22.0M YoY-8.3%	24.0M YoY+41.2%
	$3.61 YoY+30.8%	$2.76 YoY-2.1%	$2.82 YoY-24.4%	$3.73 YoY+40.2%	$2.66 YoY-24.9%
EPS (basic)	$3.63 YoY+31.0%	$2.77 YoY-2.1%	$2.83 YoY-24.5%	$3.75 YoY+39.9%	$2.68 YoY-24.9%
Weighted-avg shares (basic)	1.29B YoY-3.2%	1.33B YoY-0.2%	1.33B YoY-0.9%	1.34B YoY-0.2%	1.34B YoY+0.3%
Weighted-avg shares (diluted)	1.29B YoY-3.0%	1.33B YoY-0.2%	1.33B YoY-1.4%	1.35B YoY-0.2%	1.35B YoY+0.2%
Dividends per share	$2.80 YoY+1.4%	$2.76 YoY+1.5%	$2.72 YoY+7.9%	$2.52 YoY+8.6%	$2.32 YoY+7.4%
Balance Sheet	as ofApr 25 ’25	as ofApr 26 ’24	as ofApr 28 ’23	as ofApr 29 ’22	as ofApr 30 ’21
	23.8B YoY+8.6%	21.9B YoY+1.2%	21.7B YoY-6.0%	23.1B YoY+2.3%	22.5B YoY+2.3%
Cash & equivalents	2.22B YoY+72.7%	1.28B YoY-16.8%	1.54B YoY-58.5%	3.71B YoY+3.4%	3.59B YoY-13.2%
Short-term investments	6.75B YoY+0.4%	6.72B YoY+4.8%	6.42B YoY-6.5%	6.86B YoY-5.1%	7.22B YoY+6.1%
Accounts receivable	6.51B YoY+6.3%	6.13B YoY+2.2%	6.00B YoY+8.1%	5.55B YoY+1.6%	5.46B YoY+17.6%
Inventory	5.48B YoY+5.0%	5.22B YoY-1.4%	5.29B YoY+14.7%	4.62B YoY+7.0%	4.31B YoY+2.0%
Prepaid expenses	1.86B YoY+0.0%	1.86B YoY+0.0%	1.86B YoY+0.0%	1.86B YoY+0.0%	1.86B YoY+0.0%
Other current assets	2.86B YoY+10.6%	2.58B YoY+6.6%	2.42B YoY+4.6%	2.32B YoY+18.6%	1.96B YoY-11.5%
	91.7B YoY+1.9%	90.0B YoY-1.1%	90.9B YoY-0.0%	91.0B YoY-2.3%	93.1B YoY+2.6%
Property, plant & equipment	6.84B YoY+11.5%	6.13B YoY+10.1%	5.57B YoY+2.9%	5.41B YoY+3.7%	5.22B YoY+8.1%
Operating lease right-of-use	1.10B YoY+8.7%	1.01B YoY-2.8%	1.04B YoY+21.9%	854M YoY-14.4%	998M YoY+7.7%
Goodwill	41.7B YoY+1.8%	41.0B YoY-1.1%	41.4B YoY+2.3%	40.5B YoY-3.5%	42.0B YoY+5.3%
Intangible assets	11.7B YoY-11.8%	13.2B YoY-10.9%	14.8B YoY-4.8%	15.6B YoY-12.1%	17.7B YoY-6.9%
Long-term investments	661M YoY+0.0%	661M YoY+0.0%	661M YoY+0.0%	661M YoY+0.0%	661M YoY+0.0%
Deferred tax assets	4.04B YoY+10.5%	3.66B YoY+5.2%	3.48B YoY+2.2%	3.40B YoY+7.4%	3.17B YoY+11.9%
Other non-current assets	3.58B YoY-11.4%	4.05B YoY+2.2%	3.96B YoY+31.6%	3.01B YoY+23.1%	2.44B YoY+16.7%
	12.9B YoY+19.4%	10.8B YoY+19.2%	9.05B YoY-27.0%	12.4B YoY+45.7%	8.51B YoY-17.9%
Accounts payable	2.45B YoY+1.6%	2.41B YoY-9.5%	2.66B YoY+17.0%	2.28B YoY+8.1%	2.11B YoY+5.5%
Short-term & current debt	2.87B YoY+163.2%	1.09B YoY+5360.0%	20.0M YoY-99.5%	3.74B YoY+33918.2%	11.0M YoY-99.6%
Current lease liability	192M YoY+4.9%	183M YoY+1.7%	180M YoY+7.8%	167M YoY-10.2%	186M YoY+8.8%
Other current liabilities	3.68B YoY+2.8%	3.58B YoY+0.0%	3.58B YoY+0.8%	3.55B YoY+2.2%	3.48B YoY+16.1%
	43.4B YoY+9.8%	39.6B YoY+0.7%	39.3B YoY+2.7%	38.3B YoY-7.8%	41.5B YoY+4.2%
Long-term debt	22.1B YoY+0.0%	22.1B YoY+0.0%	22.1B YoY+0.0%	22.1B YoY+0.0%	22.1B YoY+0.0%
Non-current lease liability	918M YoY+9.3%	840M YoY-3.3%	869M YoY+23.6%	703M YoY-15.2%	829M YoY+7.1%
Deferred tax liabilities	403M YoY-21.7%	515M YoY-27.3%	708M YoY-19.9%	884M YoY-14.0%	1.03B YoY-12.4%
Other non-current liabilities	1.77B YoY+29.6%	1.36B YoY-21.0%	1.73B YoY+22.5%	1.41B YoY-19.7%	1.76B YoY+5.5%
	48.0B YoY-4.4%	50.2B YoY-2.5%	51.5B YoY-2.0%	52.6B YoY+2.2%	51.4B YoY+1.4%
Preferred stock	2.00K YoY+0.0%	2.00K YoY+0.0%	2.00K YoY+0.0%	2.00K YoY+0.0%	2.00K YoY+0.0%
Common stock	0.00	0.00	0.00	0.00	0.00
Additional paid-in capital	20.8B YoY-9.9%	23.1B YoY-5.9%	24.6B YoY+0.1%	24.6B YoY-6.7%	26.3B YoY+0.6%
Retained earnings	31.5B YoY+3.5%	30.4B YoY+0.0%	30.4B YoY+0.5%	30.3B YoY+5.8%	28.6B YoY+1.6%
Accumulated other comprehensive income	-4.28B YoY-29.1%	-3.32B YoY+5.2%	-3.50B YoY-54.5%	-2.27B YoY+35.0%	-3.48B YoY+2.1%
Non-controlling interest	232M YoY+12.6%	206M YoY+13.2%	182M YoY+6.4%	171M YoY-1.7%	174M YoY+28.9%
Total equity incl. non-controlling	48.3B YoY-4.3%	50.4B YoY-2.4%	51.7B YoY-2.0%	52.7B YoY+2.2%	51.6B YoY+1.4%
Total liabilities & equity	91.7B YoY+1.9%	90.0B YoY-1.1%	90.9B YoY-0.0%	91.0B YoY-2.3%	93.1B YoY+2.6%
Common shares issued	1.28B YoY-2.2%	1.31B YoY-1.5%	1.33B YoY+0.0%	1.33B YoY-1.1%	1.35B YoY+0.3%
Common shares outstanding	1.28B YoY-2.2%	1.31B YoY-1.5%	1.33B YoY+0.0%	1.33B YoY-1.1%	1.35B YoY+0.3%
Shares outstanding (cover)	1.28B YoY-3.4%	1.33B YoY-0.2%	1.33B YoY-0.8%	1.34B YoY-0.5%	1.35B YoY+0.6%
Cash Flow	as ofApr 25 ’25	as ofApr 26 ’24	as ofApr 28 ’23	as ofApr 29 ’22	as ofApr 30 ’21
	7.04B YoY+3.8%	6.79B YoY+12.4%	6.04B YoY-17.8%	7.35B YoY+17.7%	6.24B YoY-13.7%
Depreciation & amortization	2.86B YoY+8.1%	2.65B YoY-1.9%	2.70B YoY-0.4%	2.71B YoY+0.2%	2.70B YoY+1.5%
Share-based compensation	429M YoY+9.2%	393M YoY+10.7%	355M YoY-1.1%	359M YoY+4.4%	344M YoY+15.8%
Deferred income taxes	-339M YoY+35.8%	-528M YoY-108.7%	-253M YoY+58.6%	-611M YoY-32.5%	-461M YoY+63.9%
Change in inventory	292M YoY+110.1%	139M YoY-85.2%	939M YoY+67.7%	560M YoY+817.9%	-78.0M YoY-113.5%
	-1.94B YoY+18.1%	-2.37B YoY+32.3%	-3.49B YoY-110.5%	-1.66B YoY+42.1%	-2.87B YoY+10.5%
Capital expenditure	1.86B YoY+17.1%	1.59B YoY+8.8%	1.46B YoY+6.7%	1.37B YoY+1.0%	1.35B YoY+11.7%
Acquisitions	98.0M YoY-53.6%	211M YoY-88.7%	1.87B YoY+1951.6%	91.0M YoY-90.8%	994M YoY+103.7%
Purchases of investments	8.23B YoY+6.2%	7.75B YoY+3.1%	7.51B YoY-24.0%	9.88B YoY-16.3%	11.8B YoY+7.0%
Sales/maturities of investments	8.49B YoY+14.2%	7.44B YoY+1.3%	7.34B YoY-24.2%	9.69B YoY-14.6%	11.3B YoY+18.5%
Other investing activities	249M YoY-4.6%	261M YoY+6625.0%	-4.00M YoY-140.0%	10.0M YoY-81.5%	54.0M YoY+45.9%
	-4.36B YoY+2.0%	-4.45B YoY+10.3%	-4.96B YoY+7.0%	-5.34B YoY-29.0%	-4.14B YoY+1.5%
Long-term debt issued	3.21B	0.00 YoY-100.0%	5.41B	0.00 YoY-100.0%	7.17B YoY+28.8%
Long-term debt repaid	0.00	0.00 YoY-100.0%	6.01B YoY+601100.0%	1.00M YoY-100.0%	7.37B YoY+20.6%
Common stock repurchased	3.23B YoY+51.3%	2.14B YoY+231.5%	645M YoY-74.6%	2.54B YoY+290.2%	652M YoY-50.8%
Dividends paid	3.59B YoY-2.1%	3.67B YoY+1.4%	3.62B YoY+6.9%	3.38B YoY+8.4%	3.12B YoY+7.8%
Other financing activities	-184M YoY-6033.3%	-3.00M YoY+99.3%	-409M YoY-350.9%	163M YoY+160.8%	-268M YoY-230.9%
FX effect on cash	188M YoY+181.7%	-230M YoY-194.7%	243M YoY+205.2%	-231M YoY-207.4%	215M YoY+350.0%
Net change in cash	934M YoY+460.6%	-259M YoY+88.1%	-2.17B YoY-1894.2%	121M YoY+122.1%	-547M YoY-116.2%
Interest paid	762M YoY-7.7%	826M YoY+36.3%	606M YoY+12.2%	540M YoY-7.2%	582M YoY-9.5%
Income taxes paid	1.82B YoY+12.1%	1.62B YoY+4.8%	1.55B YoY+55.4%	996M YoY-20.3%	1.25B YoY+42.4%
Valuation Ratios	as ofApr 25 ’25	as ofApr 26 ’24	as ofApr 28 ’23	as ofApr 29 ’22	as ofApr 30 ’21
Market cap	108B YoY+1.9%	106B YoY-12.5%	121B YoY-13.6%	140B YoY-20.7%	176B YoY+32.6%
P/E	23.2× YoY-19.6%	28.8× YoY-10.5%	32.2× YoY+15.9%	27.8× YoY-43.2%	48.9× YoY+76.1%
P/S	3.2× YoY-1.6%	3.3× YoY-15.6%	3.9× YoY-12.3%	4.4× YoY-24.6%	5.9× YoY+27.3%
P/B	2.2× YoY+6.6%	2.1× YoY-10.3%	2.4× YoY-11.8%	2.7× YoY-22.4%	3.4× YoY+30.8%
P/FCF	20.8× YoY+2.2%	20.4× YoY-22.9%	26.4× YoY+12.8%	23.4× YoY-35.2%	36.1× YoY+63.5%
Earnings yield	4.3% YoY+24.4%	3.5% YoY+11.8%	3.1% YoY-13.7%	3.6% YoY+76.2%	2.0% YoY-43.2%
FCF yield	4.8% YoY-2.2%	4.9% YoY+29.8%	3.8% YoY-11.4%	4.3% YoY+54.3%	2.8% YoY-38.8%
Dividend yield	3.3% YoY-3.9%	3.5% YoY+15.7%	3.0% YoY+23.9%	2.4% YoY+36.3%	1.8% YoY-18.5%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: MDT's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all MDT filings on SEC EDGAR → Not investment advice.

MDT▼ financial statements

About this data

financial statements