Medtronic plc (MDT) Q1 FY2027 Financial Statements: Revenue $9.76B, Net income $1.47B
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PeriodQ1 FY2027FY2026
Published
Medtronic plc reported $9.76 billion in net sales for Q1 FY2027, the quarter ended July 31, 2026, up 13.7% from a year earlier, and net income attributable to Medtronic of $1.47 billion, or $1.14 per diluted share. Operating profit was $1.76 billion, up 22.1%, and free cash flow was $1.29 billion, up 120.9%, as operating cash flow rose on higher collections from customers and lower cash tax and litigation payments. No growth rate in this quarter is week-for-week comparable: fiscal 2027 is a fifty-three-week year and the extra week fell inside this quarter, so every comparison here sets fourteen weeks of trading against thirteen a year earlier. The company estimates the additional week accounted for about half of the reported sales increase.
| Metric | Amount | vs. year ago |
|---|---|---|
| Revenue | $9,756,000,000 | up 13.7% |
| Net income | $1,470,000,000 | up 41.3% |
| Diluted EPS | $1.14 | up 40.7% |
| Operating profit | $1,764,000,000 | up 22.1% |
| Free cash flow | $1,290,000,000 | up 120.9% |
About this file
| Ticker | MDT |
|---|---|
| CIK | 0001613103 |
| Company | Medtronic plc |
| Business type | industrial |
| Schema template | standard (industrial/medical device manufacturer): net sales, cost of products sold, operating profit, net income, EPS and share counts; cash, debt, assets and equity; operating cash flow, capital expenditures and free cash flow |
| Reporting currency | USD |
| Converted to USD | no |
| Units | actual dollars (not millions); share counts are actual shares; per-share figures are in dollars per ordinary share |
MDT annual income statement, balance sheet and cash flow
| FY2026 | FY2025 | FY2024 | |
|---|---|---|---|
| Fiscal year | 2026 | 2025 | 2024 |
| Label | FY2026 | FY2025 | FY2024 |
| Period start | 2025-04-26 | 2024-04-27 | 2023-04-29 |
| Period end | 2026-04-24 | 2025-04-25 | 2024-04-26 |
| Period type | fiscal year | fiscal year | fiscal year |
| Source accession | 0001628280-26-044354 | 0001628280-26-044354 | 0001628280-26-044354 |
| Income statement | |||
| Net sales | 36,364,000,000 | 33,537,000,000 | 32,364,000,000 |
| Cost of products sold | 12,721,000,000 | 11,632,000,000 | 11,216,000,000 |
| Research and development expense | 2,873,000,000 | 2,732,000,000 | 2,735,000,000 |
| Selling general and administrative expense | 11,784,000,000 | 10,849,000,000 | 10,736,000,000 |
| Amortization of intangible assets | 1,772,000,000 | 1,807,000,000 | 1,693,000,000 |
| Restructuring charges net | 249,000,000 | 267,000,000 | 226,000,000 |
| Certain litigation charges net | 113,000,000 | 317,000,000 | 149,000,000 |
| Other operating expense income net | 386,000,000 | -23,000,000 | 464,000,000 |
| Operating profit | 6,467,000,000 | 5,955,000,000 | 5,144,000,000 |
| Other non operating expense income net | -384,000,000 | -402,000,000 | -412,000,000 |
| Interest expense net | 715,000,000 | 729,000,000 | 719,000,000 |
| Income before income taxes | 6,136,000,000 | 5,628,000,000 | 4,837,000,000 |
| Income tax provision | 1,299,000,000 | 936,000,000 | 1,133,000,000 |
| Net income | 4,837,000,000 | 4,691,000,000 | 3,705,000,000 |
| Net income attributable to noncontrolling interests | 37,000,000 | 29,000,000 | 28,000,000 |
| Net income attributable to medtronic | 4,801,000,000 | 4,662,000,000 | 3,676,000,000 |
| Basic EPS | 3.75 | 3.63 | 2.77 |
| Diluted EPS | 3.73 | 3.61 | 2.76 |
| Diluted weighted average shares | 1,288,100,000 | 1,289,900,000 | 1,330,200,000 |
| Gross profit derived | 23,643,000,000 | 21,905,000,000 | 21,148,000,000 |
| Balance sheet | |||
| Cash and cash equivalents | 1,949,000,000 | 2,218,000,000 | |
| Investments | 7,271,000,000 | 6,747,000,000 | |
| Accounts receivable net | 6,643,000,000 | 6,515,000,000 | |
| Inventories | 5,951,000,000 | 5,476,000,000 | |
| Other current assets | 2,972,000,000 | 2,858,000,000 | |
| Total current assets | 24,787,000,000 | 23,814,000,000 | |
| Property plant and equipment net | 7,417,000,000 | 6,837,000,000 | |
| Goodwill | 42,587,000,000 | 41,737,000,000 | |
| Other intangible assets net | 10,146,000,000 | 11,667,000,000 | |
| Total assets | 93,028,000,000 | 91,680,000,000 | |
| Current debt obligations | 1,788,000,000 | 2,874,000,000 | |
| Accounts payable | 2,644,000,000 | 2,449,000,000 | |
| Total current liabilities | 11,658,000,000 | 12,879,000,000 | |
| Long term debt | 26,173,000,000 | 25,642,000,000 | |
| Total liabilities | 42,956,000,000 | 43,424,000,000 | |
| Retained earnings | 32,638,000,000 | 31,476,000,000 | |
| Total shareholders equity | 49,463,000,000 | 48,024,000,000 | |
| Noncontrolling interests | 609,000,000 | 232,000,000 | |
| Total equity | 50,072,000,000 | 48,256,000,000 | |
| Total debt | 27,961,000,000 | 28,516,000,000 | |
| Ordinary shares issued and outstanding | 1,280,177,293 | 1,281,934,628 | |
| Cash flow | |||
| Depreciation and amortization | 2,958,000,000 | 2,861,000,000 | 2,647,000,000 |
| Stock based compensation | 457,000,000 | 429,000,000 | 393,000,000 |
| Net cash provided by operating activities | 7,330,000,000 | 7,044,000,000 | 6,787,000,000 |
| Acquisitions net of cash acquired | -406,000,000 | -98,000,000 | -211,000,000 |
| Additions to property plant and equipment | -1,904,000,000 | -1,859,000,000 | -1,587,000,000 |
| Net cash used in investing activities | -2,934,000,000 | -1,937,000,000 | -2,366,000,000 |
| Issuance of long term debt | 1,747,000,000 | 3,209,000,000 | 0 |
| Payments on long term debt | -2,930,000,000 | 0 | 0 |
| Dividends to shareholders | -3,639,000,000 | -3,589,000,000 | -3,666,000,000 |
| Issuance of ordinary shares | 516,000,000 | 508,000,000 | 284,000,000 |
| Repurchase of ordinary shares | -1,035,000,000 | -3,235,000,000 | -2,138,000,000 |
| Net cash used in financing activities | -4,751,000,000 | -4,361,000,000 | -4,450,000,000 |
| Cash and cash equivalents at end of period | 1,949,000,000 | 2,218,000,000 | 1,284,000,000 |
| Free cash flow | 5,426,000,000 | 5,185,000,000 | 5,200,000,000 |
MDT quarterly income statement, balance sheet and cash flow
| Q1 FY2027 | Q1 FY2026 | |
|---|---|---|
| Label | Q1 FY2027 | Q1 FY2026 |
| Fiscal year | 2027 | 2026 |
| Fiscal quarter | 1 | 1 |
| Period start | 2026-04-25 | 2025-04-26 |
| Period end | 2026-07-31 | 2025-07-25 |
| Period type | three months | three months |
| Source accession | 0001628280-26-060473 | 0001628280-26-060473 |
| Income statement | ||
| Net sales | 9,756,000,000 | 8,578,000,000 |
| Cost of products sold | 3,416,000,000 | 3,001,000,000 |
| Research and development expense | 771,000,000 | 726,000,000 |
| Selling general and administrative expense | 3,198,000,000 | 2,806,000,000 |
| Amortization of intangible assets | 412,000,000 | 459,000,000 |
| Restructuring charges net | 72,000,000 | 45,000,000 |
| Other operating expense income net | 123,000,000 | 70,000,000 |
| Operating profit | 1,764,000,000 | 1,445,000,000 |
| Other non operating expense income net | -190,000,000 | -33,000,000 |
| Interest expense net | 186,000,000 | 176,000,000 |
| Income before income taxes | 1,769,000,000 | 1,302,000,000 |
| Income tax provision | 289,000,000 | 255,000,000 |
| Net income | 1,479,000,000 | 1,047,000,000 |
| Net income attributable to medtronic | 1,470,000,000 | 1,040,000,000 |
| Basic EPS | 1.15 | 0.81 |
| Diluted EPS | 1.14 | 0.81 |
| Diluted weighted average shares | 1,285,100,000 | 1,287,100,000 |
| Certain litigation charges net | 0 | 27,000,000 |
| Net income attributable to noncontrolling interests | 9,000,000 | 7,000,000 |
| Gross profit derived | 6,340,000,000 | 5,577,000,000 |
| Balance sheet | ||
| Cash and cash equivalents | 1,691,000,000 | |
| Investments | 7,128,000,000 | |
| Accounts receivable net | 6,357,000,000 | |
| Inventories | 6,215,000,000 | |
| Other current assets | 2,999,000,000 | |
| Total current assets | 24,390,000,000 | |
| Property plant and equipment net | 7,473,000,000 | |
| Goodwill | 43,187,000,000 | |
| Other intangible assets net | 10,238,000,000 | |
| Total assets | 93,306,000,000 | |
| Current debt obligations | 2,536,000,000 | |
| Accounts payable | 2,695,000,000 | |
| Total current liabilities | 11,799,000,000 | |
| Long term debt | 25,617,000,000 | |
| Total liabilities | 42,456,000,000 | |
| Retained earnings | 33,187,000,000 | |
| Total shareholders equity | 50,232,000,000 | |
| Noncontrolling interests | 618,000,000 | |
| Total equity | 50,850,000,000 | |
| Total debt | 28,153,000,000 | |
| Ordinary shares issued and outstanding | 1,280,046,863 | |
| Cash flow | ||
| Depreciation and amortization | 729,000,000 | 748,000,000 |
| Stock based compensation | 125,000,000 | 86,000,000 |
| Net cash provided by operating activities | 1,793,000,000 | 1,088,000,000 |
| Additions to property plant and equipment | -503,000,000 | -504,000,000 |
| Net cash used in investing activities | -1,619,000,000 | -719,000,000 |
| Change in current debt obligations net | 812,000,000 | 649,000,000 |
| Dividends to shareholders | -921,000,000 | -910,000,000 |
| Issuance of ordinary shares | 20,000,000 | 95,000,000 |
| Repurchase of ordinary shares | -267,000,000 | -123,000,000 |
| Net cash used in financing activities | -343,000,000 | -1,381,000,000 |
| Cash and cash equivalents at end of period | 1,691,000,000 | 1,273,000,000 |
| Acquisitions net of cash acquired | -1,162,000,000 | 0 |
| Payments on long term debt | 0 | -1,162,000,000 |
| Free cash flow | 1,290,000,000 | 584,000,000 |
MDT trailing twelve month income statement and cash flow
| Twelve months ended July 31, 2026 | |
|---|---|
| Label | Twelve months ended July 31, 2026 |
| Period start | 2025-07-26 |
| Period end | 2026-07-31 |
| Period type | trailing twelve months |
| Source accession | 0001628280-26-060473 |
| Income statement | |
| Net sales | 37,542,000,000 |
| Cost of products sold | 13,136,000,000 |
| Gross profit derived | 24,406,000,000 |
| Operating profit | 6,786,000,000 |
| Net income | 5,269,000,000 |
| Net income attributable to medtronic | 5,231,000,000 |
| Cash flow | |
| Net cash provided by operating activities | 8,035,000,000 |
| Additions to property plant and equipment | -1,903,000,000 |
| Free cash flow | 6,132,000,000 |
| Derivation | Fiscal year 2026 as reported in the Form 10-K (accession 0001628280-26-044354), plus the first quarter of fiscal 2027 and less the first quarter of fiscal 2026, both as reported in the Form 10-Q (accession 0001628280-26-060473). |
Adjustments
| Value | |
|---|---|
| Splits applied | none |
| ADR ratio | n/a |
| FX | None. Medtronic reports in U.S. dollars, so no currency translation was applied. |
Notes
- Medtronic uses a 52/53-week fiscal year ending on the last Friday in April. Fiscal 2026 ended April 24, 2026, fiscal 2025 ended April 25, 2025 and fiscal 2024 ended April 26, 2024. Each period's start date shown here is the day after the preceding period closed, as those closing dates are printed in the statements of equity.
- Fiscal 2027 is a 53-week year that will end on April 30, 2027, and the company states that the extra week falls in the first fiscal month of the first quarter. The first quarter of fiscal 2027 (April 25 through July 31, 2026) is therefore 14 weeks long, against 13 weeks for the first quarter of fiscal 2026 (April 26 through July 25, 2025). Comparisons between those two quarters are not week-for-week comparable, and the same extra week sits inside the trailing twelve months shown below. Medtronic estimates the extra week benefited the quarter's sales growth by approximately $570 million, which the 10-Q describes as a benefit to reported growth and the September 1, 2026 earnings release as a benefit to organic growth; no figure in this record has been adjusted for that estimate.
- Annual figures for fiscal 2026, 2025 and 2024 are taken from the consolidated statements of income and cash flows in the fiscal 2026 Form 10-K (accession 0001628280-26-044354), which presents three years of income and cash flow but only two balance sheet dates, April 24, 2026 and April 25, 2025. Fiscal 2024 therefore carries no balance sheet here: that balance sheet is not in this filing.
- Quarterly figures for the first quarter of fiscal 2027 and the first quarter of fiscal 2026 are taken from the condensed consolidated statements of income and cash flows in the Form 10-Q for the quarter ended July 31, 2026 (accession 0001628280-26-060473). That filing presents its balance sheet at July 31, 2026 and April 24, 2026 only, so the first quarter of fiscal 2026 is shown here without a balance sheet.
- Because this is a first quarter, the year-to-date period is the quarter itself and the 10-Q prints no separate cumulative column, so no year-to-date block is reported here.
- The three-month figures in the 10-Q agree line for line with the first-quarter fiscal 2027 earnings release furnished as Exhibit 99.1 to the Form 8-K dated September 1, 2026 (accession 0001628280-26-059697), including free cash flow of $1,290 million for the quarter against $584 million a year earlier.
- The trailing twelve months block is derived, not filed: it is fiscal 2026 as reported in the 10-K, plus the first quarter of fiscal 2027 and less the first quarter of fiscal 2026, both as reported in the 10-Q. It spans the 53 weeks from July 26, 2025 through July 31, 2026 because of the extra week in fiscal 2027. Only the lines that add cleanly are shown; per-share amounts and share counts are not derived this way, because the weighted average share count of a twelve-month period is not the sum of its parts.
- Medtronic's income statement does not print a gross profit subtotal, so gross_profit_derived is net sales less cost of products sold. Cost of products sold excludes amortization of intangible assets, which the company reports on its own line; this is the same basis on which Medtronic states its gross margin percentage.
- Two expense lines are stored exactly as the filings print them, so a negative amount means net income rather than net expense: other_operating_expense_income_net and other_non_operating_expense_income_net. Cash outflows in the cash flow statements are likewise stored as negative amounts. net_income_attributable_to_noncontrolling_interests does not follow that convention: the income statement prints it in parentheses, but it is stored here as a positive amount, because it is income earned by the noncontrolling interests in Medtronic's consolidated subsidiaries. It is deducted from consolidated net income to arrive at net income attributable to Medtronic.
- net_income is the consolidated figure including noncontrolling interests; net_income_attributable_to_medtronic is the parent's share and is the figure earnings per share is struck on.
- total_debt is the sum of the two debt captions on the balance sheet, current debt obligations plus long-term debt. It does not include lease liabilities. At July 31, 2026 that is $2,536 million of current debt obligations plus $25,617 million of long-term debt.
- free_cash_flow is operating cash flow less additions to property, plant, and equipment, which is the company's own definition.
- On June 12, 2026 Medtronic closed its acquisition of Scientia Vascular, a privately held maker of neurovascular access products, which is the main reason acquisitions net of cash acquired was a $1,162 million outflow in the first quarter of fiscal 2027 and goodwill rose from $42,587 million to $43,187 million over the quarter.
- On March 9, 2026 MiniMed Group, Inc., which holds Medtronic's Diabetes business, completed an initial public offering. Medtronic retained a controlling financial interest, so MiniMed's results remain consolidated in every period shown here.
- The quarters shown here are the first quarters of fiscal 2027 and fiscal 2026, which are the only three-month periods the fiscal 2026 Form 10-K and this Form 10-Q put on their face. Earlier quarters of fiscal 2026 and fiscal 2025 are not shown because neither of these two filings presents them.
- No restatement was found. The April 24, 2026 balance sheet column in the 10-Q is identical to the audited April 24, 2026 balance sheet in the 10-K, and the fiscal 2026, 2025 and 2024 income statement and cash flow columns in the 10-K are unchanged from the amounts previously reported for those years.
Uncertainties
- Because fiscal 2027 carries an extra week in its first quarter, the growth between the first quarter of fiscal 2026 and the first quarter of fiscal 2027 reflects 14 weeks of trading against 13. Medtronic estimates that the extra week added approximately $570 million of sales growth in the quarter; the 10-Q describes that as a benefit to reported growth and the September 1, 2026 earnings release as a benefit to organic growth. The company states that the impact of the extra week is difficult to calculate, so this is an estimate rather than an amount that can be subtracted from the figures reported here. The estimate covers the effect on sales only: it is not allocated to any other line item, and no figure in this record has been adjusted for it.
- The trailing twelve months block is computed from three reported periods rather than taken from a filing. Because each of those periods is stated in whole millions, sums of individual line items can differ by about a million from what a directly reported twelve-month statement would show.
- Gross profit and total debt are not lines Medtronic prints; both are computed here from printed lines, as described in the notes.
- Fiscal 2024 is reported without a balance sheet, and the first quarter of fiscal 2026 without one, because those columns do not appear in the filings this record is drawn from.
- The first quarter of fiscal 2027 statements are unaudited, as interim statements are.
Company details
| Value | |
|---|---|
| Name | Medtronic plc |
| Ticker | MDT |
| CIK | 0001613103 |
| Exchange | NYSE |
| State | |
| Incorporation | |
| SIC | 3845 |
| Office | Industrial Applications and Services |
| Industry | Electromedical & Electrotherapeutic Apparatus |
Fiscal period
| FY2027 | |
|---|---|
| Fiscal year | 2027 |
| Fiscal period | Q1 |
| Tag | FY27Q1 |
| Period end | 2026-07-31 |
| Form | 10-Q |
| Accession | 0001628280-26-060473 |
| Fiscal year end | 0424 |
| Source | facts |
Source filings
| Role | Current | Form | Fiscal year | Fiscal period | Tag | Period end | Filed | Accession | Url | Source |
|---|---|---|---|---|---|---|---|---|---|---|
| annual | no | 10-K | 2026 | FY | FY26 | 2026-04-24 | 2026-06-18 | 0001628280-26-044354 | https://www.sec.gov/Archives/edgar/data/1613103/000162828026044354/0001628280-26-044354-index.htm | reported |
| quarterly | yes | 10-Q | 2027 | Q1 | FY27Q1 | 2026-07-31 | 2026-09-03 | 0001628280-26-060473 | https://www.sec.gov/Archives/edgar/data/1613103/000162828026060473/0001628280-26-060473-index.htm | facts |
FAQ · Medtronic financial statements
How much revenue did Medtronic report in Q1 FY2027?
Medtronic plc reported $9.76 billion in net sales for Q1 FY2027, the quarter ended July 31, 2026, up 13.7% from $8.58 billion in the same quarter a year earlier. Fiscal 2027 is a fifty-three-week year for Medtronic and the extra week fell in this quarter, so that growth rate covers one more week of selling than the year-ago quarter and is not week-for-week comparable.
What was Medtronic's earnings per share in Q1 FY2027?
Medtronic plc earned $1.14 per diluted share in Q1 FY2027, against $0.81 in the same quarter a year earlier, on net income attributable to Medtronic of $1.47 billion, up 41.3%. The quarter ran one week longer than the year-ago quarter because fiscal 2027 carries an extra week, so the comparison is not week-for-week. Beyond that extra week, much of the increase sits below the operating line: Medtronic swung to net gains on minority investments from net losses a year earlier, and its effective tax rate fell on the release of reserves for uncertain tax positions. The rise is not operating performance alone.
Was Medtronic profitable in Q1 FY2027?
Yes. Medtronic plc reported operating profit of $1.76 billion in Q1 FY2027, the quarter ended July 31, 2026, up 22.1% from $1.45 billion a year earlier, and net income attributable to Medtronic of $1.47 billion. Neither comparison is week-for-week: the extra week in Medtronic's fifty-three-week fiscal 2027 fell in this quarter, so both figures cover fourteen weeks against thirteen. Net income grew faster than operating profit largely because of items below the operating line, a swing to net gains on minority investments and a lower effective tax rate, rather than operating performance alone.
How much free cash flow did Medtronic generate in Q1 FY2027?
Medtronic plc generated $1.29 billion of free cash flow in Q1 FY2027, the quarter ended July 31, 2026, up 120.9% from $584 million a year earlier, on the company's definition of operating cash flow less additions to property, plant and equipment. That growth rate is not week-for-week comparable: fiscal 2027 is a fifty-three-week year and the extra week fell in this quarter, so the period covers fourteen weeks of trading and collections against thirteen a year earlier. Operating cash flow also rose on higher collections from customers and lower cash tax and litigation payments.
Where can I get Medtronic plc (MDT) financial data in machine-readable form?
Ticker Scout publishes Medtronic plc's financial statements as JSON at https://tickerscout.ai/mdt/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/mdt/narrative.md and https://tickerscout.ai/mdt/events.md. Medtronic plc's SEC CIK is 0001613103. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.
When does Medtronic plc (MDT) next file with the SEC?
Medtronic plc (MDT) is expected to file its next Form 10-Q with the SEC on or around November 24, 2026. That date is a projection rather than a company-announced date: it is derived from Medtronic plc's own filing history with the SEC, by taking the date the company filed the same fiscal period a year earlier and adding 52 weeks. The most recent periodic report on file is the 10-Q for Q1 FY2027, the period ended 2026-07-31, SEC accession 0001628280-26-060473.
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How this page was built
This page was built from three of Medtronic plc's own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names five such gaps.
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