Medtronic: revenue, profit and dividends

In fiscal 2026, Medtronic had revenue of $36.4B, up 2.3% a year on average since 2016, and net income of $4.8B (13.2% of revenue). Its dividend per share has gone up 18 years in a row, to $2.84. It has 10% fewer shares than in 2016.

Revenue, fiscal 2026

$36.4B+2.3% a year

average annual revenue growth since 2016 · +8.4% vs 2025

Net income, 2026

$4.8B

13.2% of revenue

Diluted EPS, 2026

$3.73

4.2% a year since 2016

Dividend per share, 2026

$2.84

raised every year since 2009

Revenue growth, 5 years

3.8% a year

since 2021

Shares, 2026

1.29B

−9.7% since 2016

Free cash flow, 2026

$5.43B

$7.33B from operations − $1.9B capex

Ticker: MDT · NYSE
Sector: Health Care
Sub-industry: Health Care Equipment
Headquarters: Galway, Ireland
Founded: 1949
In the S&P 500 since: October 31, 1986
Latest fiscal year: 2026, ended April 24, 2026
SEC filer: Medtronic plc · CIK 0001613103

Revenue and net income

Revenue went from $13.5B in 2008 to $36.4B in 2026.

RevenueNet income

Fiscal years · US dollarsSource: SEC EDGAR (company filings)

Diluted earnings per share

Diluted EPS went from $1.87 in 2008 to $3.73 in 2026. Ten-year growth: 4.2% a year.

Fiscal years · US dollars per share, adjusted for splitsSource: SEC EDGAR (company filings)

Dividends per share

Raised every year in the data: 18 years in a row, from 2009 to 2026. Ten-year growth: 6.5% a year.

Fiscal years · US dollars per share, adjusted for splitsSource: SEC EDGAR (company filings)

Shares outstanding

9.7% fewer shares in 2026 than in 2016 (1.43B → 1.29B): buybacks outweighed new shares.

Fiscal years · diluted weighted-average shares, adjusted for splitsSource: SEC EDGAR (company filings)

Operating cash flow, capex and free cash flow

Free cash flow (operating cash flow minus capital expenditure) was $5.43B in 2026, 14.9% of revenue.

Operating cash flowCapital expenditureFree cash flow

Fiscal years · US dollarsSource: SEC EDGAR (company filings)

Year by year

Fiscal year	Revenue	Net income	Net margin	Diluted EPS	Dividend	Shares	Operating cash flow	Capex	Free cash flow
2026	$36.4B	$4.8B	13.2%	$3.73	$2.84	1.29B	$7.33B	$1.9B	$5.43B
2025	$33.5B	$4.66B	13.9%	$3.61	$2.80	1.29B	$7.04B	$1.86B	$5.18B
2024	$32.4B	$3.68B	11.4%	$2.76	$2.76	1.33B	$6.79B	$1.59B	$5.2B
2023	$31.2B	$3.76B	12.0%	$2.82	$2.72	1.33B	$6.04B	$1.46B	$4.58B
2022	$31.7B	$5.04B	15.9%	$3.73	$2.52	1.35B	$7.35B	$1.37B	$5.98B
2021	$30.1B	$3.61B	12.0%	$2.66	$2.32	1.35B	$6.24B	$1.35B	$4.88B
2020	$28.9B	$4.79B	16.6%	$3.54	$2.16	1.35B	$7.23B	$1.21B	$6.02B
2019	$30.6B	$4.63B	15.2%	$3.41	$2.00	1.36B	$7.01B	$1.13B	$5.87B
2018	$30B	$3.1B	10.4%	$2.27	$1.84	1.37B	$4.68B	$1.07B	$3.62B
2017	$29.7B	$4.03B	13.6%	$2.89	$1.72	1.39B	$6.88B	$1.25B	$5.63B
2016	$28.8B	$3.54B	12.3%	$2.48	$1.52	1.43B	$5.22B	$1.05B	$4.17B
2015	$20.3B	$2.67B	13.2%	$2.41	$1.22	1.11B	$4.9B	$571M	$4.33B
2014	$17B	$3.06B	18.0%	$3.02	$1.12	1.01B	$4.96B	$396M	$4.56B
2013	$16.6B	$3.47B	20.9%	$3.37	$1.04	1.03B	$4.94B	$457M	$4.49B
2012	$16.2B	$3.62B	22.3%	$3.41	$0.97	1.06B	$4.47B	$484M	$3.99B
2011	$15.5B	$3.1B	20.0%	$2.86	$0.90	1.08B	$3.74B	$501M	$3.24B
2010	$15.4B	$3.1B	20.1%	$2.79	$0.82	1.11B	$4.13B	$573M	$3.56B
2009	$14.6B	$2.07B	14.2%	$1.84	$0.75	1.13B	$3.88B	$498M	$3.38B
2008	$13.5B	$2.14B	15.8%	$1.87	$0.50	—	$3.49B	$513M	$2.98B

Fiscal years, labelled by the year in which they end. US dollars; per-share figures and share counts adjusted for splits. —: not in the data.

About these figures

Figures filed before February 27, 2015 come from Medtronic Inc (CIK 0000064670), the earlier SEC registrant of the same business.
Older years are as filed at the time and may predate later restatements, mergers or spin-offs. How the figures are made.