Medtronic (MDT) Stock Analysis

June 13, 2026

Here is a fundamental analysis of Medtronic (MDT), benchmarking its profitability, financial strength, dividend and valuation against its industry group peers.

Performance

Cumulative Growth

MDT

GSPC

Medtronic (MDT) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

Loading price history…

Trailing total returns for Medtronic (MDT) and S&P 500 (GSPC). Returns over one year are annualized.

Performance at a Glance

Medtronic (MDT) metric values compared with Health Care Equipment & Services industry-group medians
Metric	Current stock: MDT	Industry group median
1-Year Return	-6.49%	6.07%

Risk

Drawdown

MDT

GSPC

Medtronic (MDT) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Risk at a Glance

Medtronic (MDT) metric values compared with Health Care Equipment & Services industry-group medians
Metric	Current stock: MDT	Industry group median
1-Year Volatility	21.11%	49.54%
Beta	0.56	0.89

Company Profile

Company profile fields for Medtronic (MDT)
Profile Item	MDT
Name	Medtronic plc
Country/Region	Ireland
GICS Sector	Health Care
GICS Industry Group	Health Care Equipment & Services
GICS Industry	Health Care Equipment & Supplies
GICS Sub-Industry	Health Care Equipment
Market Capitalization	102.97 billion USD
Currency	USD
Exchange	NYSE
Listing Date	May 2, 1973
Security Type	Common Stock

Valuation

Price-to-Earnings Ratio (TTM)

Medtronic (MDT) trades at P/E ratio of 21.50, near the industry’s usual earnings multiple. The stock is not showing a clear peer discount or premium on trailing earnings.

MDT

Health Care Equipment & Services industry group

21.50

Group distribution

Max: 80.40
Q3: 44.58
Median: 28.09
MDT: 21.50
Q1: 19.76
Min: 0.91

Largest peers

ISRG: 50.01
CVS: 44.72
SYK: 36.09
UNH: 30.76
ABT: 24.70
MDT: 21.50
MCK: 20.41

Where Medtronic (MDT) stands on P/E ratio within its Health Care Equipment & Services peer group — the box is the group’s distribution and the dots its largest members.

Price-to-Sales Ratio (TTM)

Medtronic (MDT) trades at 2.83 on P/S ratio, roughly in the peer group’s normal range. The market is not making a strong cheap-or-rich statement about its revenue base.

MDT

Health Care Equipment & Services industry group

2.83

Group distribution

Max: 8.62
Q3: 4.20
MDT: 2.83
Median: 1.94
Q1: 1.01
Min: 0.04

Largest peers

ISRG: 13.76
SYK: 4.74
ABT: 3.40
MDT: 2.83
UNH: 0.82
CVS: 0.32
MCK: 0.23

Where Medtronic (MDT) stands on P/S ratio within its Health Care Equipment & Services peer group — the box is the group’s distribution and the dots its largest members.

Price-to-Book Ratio (MRQ)

Medtronic (MDT) trades at 2.10 on P/B ratio, roughly in line with the industry’s normal price-to-book range. Its balance sheet is not being priced at a clear discount or premium versus peers.

MDT

Health Care Equipment & Services industry group

2.10

Group distribution

Max: 11.03
Q3: 5.50
Median: 2.78
MDT: 2.10
Q1: 1.47
Min: -2.18

Largest peers

ISRG: 8.34
SYK: 5.33
UNH: 3.79
ABT: 2.95
MDT: 2.10
CVS: 1.68
MCK: -43.32

Where Medtronic (MDT) stands on P/B ratio within its Health Care Equipment & Services peer group — the box is the group’s distribution and the dots its largest members.

Valuation at a Glance

Medtronic (MDT) metric values compared with Health Care Equipment & Services industry-group medians
Metric	Current stock: MDT	Industry group median
Price-to-Earnings Ratio (TTM)	21.50	28.09
Price-to-Sales Ratio (TTM)	2.83	1.94
Price-to-Book Ratio (MRQ)	2.10	2.78
Free Cash Flow Yield	--	4.00%

Profitability

Return on Equity (TTM)

Medtronic (MDT) posts ROE of 9.93%, roughly around the peer group’s normal range. Shareholders’ equity is producing a return that looks broadly typical for the industry.

MDT

Health Care Equipment & Services industry group

9.93%

Group distribution

Max: 53.65%
Q3: 12.73%
MDT: 9.93%
Median: 3.57%
Q1: -17.96%
Min: -59.21%

Largest peers

ISRG: 17.23%
SYK: 15.20%
ABT: 12.33%
UNH: 12.18%
MDT: 9.93%
CVS: 3.75%
MCK: --

Where Medtronic (MDT) stands on ROE within its Health Care Equipment & Services peer group — the box is the group’s distribution and the dots its largest members.

Net Profit Margin (TTM)

Medtronic (MDT) keeps 13.20% of revenue as net profit, putting net margin in the upper peer quartile. After operating costs, interest, and taxes, more of each sales dollar reaches shareholders than it does at most industry peers.

MDT

Health Care Equipment & Services industry group

13.20%

Group distribution

Max: 30.40%
MDT: 13.20%
Q3: 7.96%
Median: 1.27%
Q1: -9.77%
Min: -34.34%

Largest peers

ISRG: 28.15%
ABT: 13.91%
SYK: 13.21%
MDT: 13.20%
UNH: 2.68%
MCK: 1.18%
CVS: 0.72%

Where Medtronic (MDT) stands on net margin within its Health Care Equipment & Services peer group — the box is the group’s distribution and the dots its largest members.

Operating Profit Margin (TTM)

Medtronic (MDT) turns 21.30% of revenue into operating profit, putting operating margin in the upper peer quartile. Before financing and taxes enter the picture, the day-to-day business keeps more of each sales dollar than most industry peers.

MDT

Health Care Equipment & Services industry group

21.30%

Group distribution

Max: 35.33%
MDT: 21.30%
Q3: 11.89%
Median: 5.44%
Q1: -4.59%
Min: -25.61%

Largest peers

ISRG: 30.87%
MDT: 21.30%
SYK: 17.82%
ABT: 13.47%
UNH: 8.05%
CVS: 4.12%
MCK: 2.21%

Where Medtronic (MDT) stands on operating margin within its Health Care Equipment & Services peer group — the box is the group’s distribution and the dots its largest members.

Profitability at a Glance

Medtronic (MDT) metric values compared with Health Care Equipment & Services industry-group medians
Metric	Current stock: MDT	Industry group median
Return on Equity (TTM)	9.93%	3.57%
Return on Assets (TTM)	--	3.10%
Net Profit Margin (TTM)	13.20%	1.27%
Operating Profit Margin (TTM)	21.30%	5.44%
Gross Profit Margin (TTM)	65.38%	52.99%

Financial Strength

Current Ratio (MRQ)

No usable current ratio is available for Medtronic (MDT) this period, so the short-term liquidity read is skipped.

MDT

Health Care Equipment & Services industry group

Group distribution

Max: 7.79
Q3: 4.29
Median: 1.95
Q1: 1.33
Min: 0.04
MDT: --

Largest peers

ISRG: 4.61
SYK: 2.11
ABT: 1.39
CVS: 0.87
MCK: 0.85
UNH: 0.80
MDT: --

Medtronic (MDT) doesn’t report current ratio this period; the box shows the Health Care Equipment & Services group’s distribution and the dots its largest members.

Debt-to-Equity Ratio (MRQ)

Medtronic (MDT) has debt-to-equity ratio of 0.57, roughly in line with the peer group’s normal leverage range. Its mix of debt and equity looks typical for the industry.

MDT

Health Care Equipment & Services industry group

0.57

Group distribution

Max: 2.02
Q3: 1.01
Median: 0.60
MDT: 0.57
Q1: 0.16
Min: 0.00

Largest peers

CVS: 1.01
UNH: 0.74
SYK: 0.66
ABT: 0.65
MDT: 0.57
ISRG: --
MCK: --

Where Medtronic (MDT) stands on debt-to-equity ratio within its Health Care Equipment & Services peer group — the box is the group’s distribution and the dots its largest members.

Financial Strength at a Glance

Medtronic (MDT) metric values compared with Health Care Equipment & Services industry-group medians
Metric	Current stock: MDT	Industry group median
Current Ratio (MRQ)	--	1.95
Debt-to-Equity Ratio (MRQ)	0.57	0.60
Net Debt / EBITDA	1.95	2.21

Dividends

Dividend Yield (TTM)

Medtronic (MDT) has dividend yield of 3.59%, above the entire industry range. That headline income is large, but yields this far above peers often come from a falling share price or an at-risk payout, so dividend safety matters more than the percentage itself.

MDT

Health Care Equipment & Services industry group

3.59%

Group distribution

MDT: 3.59%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

MDT: 3.59%
ABT: 2.86%
CVS: 2.61%
UNH: 2.27%
SYK: 1.13%
MCK: 0.42%
ISRG: 0.00%

Where Medtronic (MDT) stands on dividend yield within its Health Care Equipment & Services peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

Medtronic (MDT) has payout ratio of 76.14%, above the peer distribution for its industry. The dividend consumes more reported earnings than peers normally do, leaving unusually thin earnings cover.

MDT

Health Care Equipment & Services industry group

76.14%

Group distribution

MDT: 76.14%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

CVS: 116.67%
MDT: 76.14%
ABT: 67.23%
UNH: 66.57%
SYK: 39.81%
MCK: 8.26%
ISRG: 0.00%

Where Medtronic (MDT) stands on payout ratio within its Health Care Equipment & Services peer group — the box is the group’s distribution and the dots its largest members.

Dividends at a Glance

Medtronic (MDT) metric values compared with Health Care Equipment & Services industry-group medians
Metric	Current stock: MDT	Industry group median
Dividend Yield (TTM)	3.59%	0.00%
Dividend Payout Ratio (TTM)	76.14%	0.00%