MEDTRONIC PLC (MDT) Stock Fundamental Analysis

USA • New York Stock Exchange • NYSE:MDT • IE00BTN1Y115

101.84 USD
-1.34 (-1.3%)
At close: Feb 4, 2026
101.84 USD
0 (0%)
After Hours: 2/4/2026, 8:04:00 PM
Fundamental Rating

6

Taking everything into account, MDT scores 6 out of 10 in our fundamental rating. MDT was compared to 186 industry peers in the Health Care Equipment & Supplies industry. MDT scores excellent on profitability, but there are some minor concerns on its financial health. MDT has a correct valuation and a medium growth rate. MDT also has an excellent dividend rating. These ratings would make MDT suitable for dividend investing!


Dividend Valuation Growth Profitability Health

8

1. Profitability

1.1 Basic Checks

  • MDT had positive earnings in the past year.
  • MDT had a positive operating cash flow in the past year.
  • MDT had positive earnings in each of the past 5 years.
  • Each year in the past 5 years MDT had a positive operating cash flow.
MDT Yearly Net Income VS EBIT VS OCF VS FCFMDT Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 5.22%, MDT belongs to the top of the industry, outperforming 82.26% of the companies in the same industry.
  • The Return On Equity of MDT (9.79%) is better than 86.02% of its industry peers.
  • MDT's Return On Invested Capital of 6.63% is amongst the best of the industry. MDT outperforms 81.18% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for MDT is below the industry average of 8.80%.
  • The last Return On Invested Capital (6.63%) for MDT is above the 3 year average (6.35%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 5.22%
ROE 9.79%
ROIC 6.63%
ROA(3y)4.43%
ROA(5y)4.54%
ROE(3y)8.11%
ROE(5y)8.19%
ROIC(3y)6.35%
ROIC(5y)6.24%
MDT Yearly ROA, ROE, ROICMDT Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2 4 6 8

1.3 Margins

  • MDT's Profit Margin of 13.71% is amongst the best of the industry. MDT outperforms 90.86% of its industry peers.
  • MDT's Profit Margin has declined in the last couple of years.
  • MDT has a Operating Margin of 19.42%. This is amongst the best in the industry. MDT outperforms 93.01% of its industry peers.
  • MDT's Operating Margin has been stable in the last couple of years.
  • MDT has a Gross Margin of 65.57%. This is in the better half of the industry: MDT outperforms 70.43% of its industry peers.
  • MDT's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 19.42%
PM (TTM) 13.71%
GM 65.57%
OM growth 3Y-3.47%
OM growth 5Y0.37%
PM growth 3Y-4.39%
PM growth 5Y-3.44%
GM growth 3Y-1.55%
GM growth 5Y-0.76%
MDT Yearly Profit, Operating, Gross MarginsMDT Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60

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ROAROEROICOperating and Profit MarginShow most profitable peers

5

2. Health

2.1 Basic Checks

  • MDT has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • MDT has less shares outstanding than it did 1 year ago.
  • The number of shares outstanding for MDT has been reduced compared to 5 years ago.
  • The debt/assets ratio for MDT is higher compared to a year ago.
MDT Yearly Shares OutstandingMDT Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M 1B
MDT Yearly Total Debt VS Total AssetsMDT Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20B 40B 60B 80B

2.2 Solvency

  • MDT has an Altman-Z score of 3.14. This indicates that MDT is financially healthy and has little risk of bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 3.14, MDT is in the better half of the industry, outperforming 69.89% of the companies in the same industry.
  • MDT has a debt to FCF ratio of 5.59. This is a neutral value as MDT would need 5.59 years to pay back of all of its debts.
  • With a decent Debt to FCF ratio value of 5.59, MDT is doing good in the industry, outperforming 78.49% of the companies in the same industry.
  • MDT has a Debt/Equity ratio of 0.57. This is a neutral value indicating MDT is somewhat dependend on debt financing.
  • MDT has a worse Debt to Equity ratio (0.57) than 60.75% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.57
Debt/FCF 5.59
Altman-Z 3.14
ROIC/WACC0.96
WACC6.93%
MDT Yearly LT Debt VS Equity VS FCFMDT Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B 40B 50B

2.3 Liquidity

  • MDT has a Current Ratio of 2.42. This indicates that MDT is financially healthy and has no problem in meeting its short term obligations.
  • With a Current ratio value of 2.42, MDT perfoms like the industry average, outperforming 48.92% of the companies in the same industry.
  • A Quick Ratio of 1.80 indicates that MDT should not have too much problems paying its short term obligations.
  • MDT has a Quick ratio (1.80) which is comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 2.42
Quick Ratio 1.8
MDT Yearly Current Assets VS Current LiabilitesMDT Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B 20B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. Growth

3.1 Past

  • MDT shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 7.24%.
  • MDT shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 3.68% yearly.
  • MDT shows a small growth in Revenue. In the last year, the Revenue has grown by 5.34%.
  • MDT shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 3.01% yearly.
EPS 1Y (TTM)7.24%
EPS 3Y-0.72%
EPS 5Y3.68%
EPS Q2Q%7.94%
Revenue 1Y (TTM)5.34%
Revenue growth 3Y1.91%
Revenue growth 5Y3.01%
Sales Q2Q%6.64%

3.2 Future

  • Based on estimates for the next years, MDT will show a small growth in Earnings Per Share. The EPS will grow by 6.08% on average per year.
  • The Revenue is expected to grow by 5.80% on average over the next years.
EPS Next Y3.62%
EPS Next 2Y6.02%
EPS Next 3Y6.42%
EPS Next 5Y6.08%
Revenue Next Year7.67%
Revenue Next 2Y6.75%
Revenue Next 3Y6.25%
Revenue Next 5Y5.8%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
MDT Yearly Revenue VS EstimatesMDT Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 10B 20B 30B 40B
MDT Yearly EPS VS EstimatesMDT Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2 4 6

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Find the best growth stocksShow best growing peers

6

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 18.09, the valuation of MDT can be described as rather expensive.
  • MDT's Price/Earnings ratio is rather cheap when compared to the industry. MDT is cheaper than 83.87% of the companies in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 28.25, MDT is valued a bit cheaper.
  • With a Price/Forward Earnings ratio of 16.47, MDT is valued correctly.
  • MDT's Price/Forward Earnings ratio is rather cheap when compared to the industry. MDT is cheaper than 85.48% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 27.50. MDT is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 18.09
Fwd PE 16.47
MDT Price Earnings VS Forward Price EarningsMDT Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of MDT indicates a rather cheap valuation: MDT is cheaper than 82.26% of the companies listed in the same industry.
  • MDT's Price/Free Cash Flow ratio is rather cheap when compared to the industry. MDT is cheaper than 83.87% of the companies in the same industry.
Industry RankSector Rank
P/FCF 25.08
EV/EBITDA 14.77
MDT Per share dataMDT EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates MDT does not grow enough to justify the current Price/Earnings ratio.
  • MDT has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)5
PEG (5Y)4.91
EPS Next 2Y6.02%
EPS Next 3Y6.42%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

7

5. Dividend

5.1 Amount

  • MDT has a Yearly Dividend Yield of 2.81%. Purely for dividend investing, there may be better candidates out there.
  • MDT's Dividend Yield is rather good when compared to the industry average which is at 0.21. MDT pays more dividend than 98.39% of the companies in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.82, MDT pays a better dividend.
Industry RankSector Rank
Dividend Yield 2.81%

5.2 History

  • The dividend of MDT has a limited annual growth rate of 5.10%.
  • MDT has been paying a dividend for at least 10 years, so it has a reliable track record.
  • MDT has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)5.1%
Div Incr Years11
Div Non Decr Years11
MDT Yearly Dividends per shareMDT Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5 2 2.5

5.3 Sustainability

  • MDT pays out 75.86% of its income as dividend. This is not a sustainable payout ratio.
  • MDT's earnings are growing around the same pace than its dividend. As long as the earnings growth is kept the dividend growth is sustainable.
DP75.86%
EPS Next 2Y6.02%
EPS Next 3Y6.42%
MDT Yearly Income VS Free CF VS DividendMDT Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B
MDT Dividend Payout.MDT Dividend Payout, showing the Payout Ratio.MDT Dividend Payout.PayoutRetained Earnings

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Find the best dividend stocksShow peers with best dividend

MEDTRONIC PLC

NYSE:MDT (2/4/2026, 8:04:00 PM)

After market: 101.84 0 (0%)

101.84

-1.34 (-1.3%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)11-18
Earnings (Next)02-17
Inst Owners88.22%
Inst Owner Change-1.8%
Ins Owners0.28%
Ins Owner Change-1.4%
Market Cap130.56B
Revenue(TTM)34.76B
Net Income(TTM)4.76B
Analysts74.21
Price Target111.71 (9.69%)
Short Float %1.31%
Short Ratio2.36
Dividend
Industry RankSector Rank
Dividend Yield 2.81%
Yearly Dividend2.77
Dividend Growth(5Y)5.1%
DP75.86%
Div Incr Years11
Div Non Decr Years11
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)1.96%
Min EPS beat(2)1.49%
Max EPS beat(2)2.43%
EPS beat(4)4
Avg EPS beat(4)1.68%
Min EPS beat(4)1.21%
Max EPS beat(4)2.43%
EPS beat(8)6
Avg EPS beat(8)1.26%
EPS beat(12)9
Avg EPS beat(12)1.96%
EPS beat(16)10
Avg EPS beat(16)1.24%
Revenue beat(2)2
Avg Revenue beat(2)0.49%
Min Revenue beat(2)0.08%
Max Revenue beat(2)0.91%
Revenue beat(4)3
Avg Revenue beat(4)-0.06%
Min Revenue beat(4)-1.38%
Max Revenue beat(4)0.91%
Revenue beat(8)7
Avg Revenue beat(8)0.29%
Revenue beat(12)10
Avg Revenue beat(12)0.59%
Revenue beat(16)11
Avg Revenue beat(16)-0.1%
PT rev (1m)-0.48%
PT rev (3m)8.45%
EPS NQ rev (1m)0.01%
EPS NQ rev (3m)-0.91%
EPS NY rev (1m)-0.02%
EPS NY rev (3m)0.29%
Revenue NQ rev (1m)0.01%
Revenue NQ rev (3m)0.49%
Revenue NY rev (1m)0.01%
Revenue NY rev (3m)0.6%
Valuation
Industry RankSector Rank
PE 18.09
Fwd PE 16.47
P/S 3.76
P/FCF 25.08
P/OCF 18.36
P/B 2.68
P/tB N/A
EV/EBITDA 14.77
EPS(TTM)5.63
EY5.53%
EPS(NY)6.18
Fwd EY6.07%
FCF(TTM)4.06
FCFY3.99%
OCF(TTM)5.55
OCFY5.45%
SpS27.11
BVpS37.95
TBVpS-3.06
PEG (NY)5
PEG (5Y)4.91
Graham Number69.34
Profitability
Industry RankSector Rank
ROA 5.22%
ROE 9.79%
ROCE 8.29%
ROIC 6.63%
ROICexc 7.39%
ROICexgc 26.33%
OM 19.42%
PM (TTM) 13.71%
GM 65.57%
FCFM 14.98%
ROA(3y)4.43%
ROA(5y)4.54%
ROE(3y)8.11%
ROE(5y)8.19%
ROIC(3y)6.35%
ROIC(5y)6.24%
ROICexc(3y)7.09%
ROICexc(5y)7.05%
ROICexgc(3y)29.85%
ROICexgc(5y)33.32%
ROCE(3y)7.94%
ROCE(5y)7.8%
ROICexgc growth 3Y-11.61%
ROICexgc growth 5Y-5.52%
ROICexc growth 3Y-2.49%
ROICexc growth 5Y3.26%
OM growth 3Y-3.47%
OM growth 5Y0.37%
PM growth 3Y-4.39%
PM growth 5Y-3.44%
GM growth 3Y-1.55%
GM growth 5Y-0.76%
F-Score8
Asset Turnover0.38
Health
Industry RankSector Rank
Debt/Equity 0.57
Debt/FCF 5.59
Debt/EBITDA 2.83
Cap/Depr 63.21%
Cap/Sales 5.49%
Interest Coverage 8.53
Cash Conversion 72.83%
Profit Quality 109.28%
Current Ratio 2.42
Quick Ratio 1.8
Altman-Z 3.14
F-Score8
WACC6.93%
ROIC/WACC0.96
Cap/Depr(3y)59.68%
Cap/Depr(5y)55.94%
Cap/Sales(3y)5.04%
Cap/Sales(5y)4.79%
Profit Quality(3y)124.85%
Profit Quality(5y)125.74%
High Growth Momentum
Growth
EPS 1Y (TTM)7.24%
EPS 3Y-0.72%
EPS 5Y3.68%
EPS Q2Q%7.94%
EPS Next Y3.62%
EPS Next 2Y6.02%
EPS Next 3Y6.42%
EPS Next 5Y6.08%
Revenue 1Y (TTM)5.34%
Revenue growth 3Y1.91%
Revenue growth 5Y3.01%
Sales Q2Q%6.64%
Revenue Next Year7.67%
Revenue Next 2Y6.75%
Revenue Next 3Y6.25%
Revenue Next 5Y5.8%
EBIT growth 1Y7.35%
EBIT growth 3Y-1.62%
EBIT growth 5Y3.4%
EBIT Next Year17.96%
EBIT Next 3Y11.21%
EBIT Next 5Y9.23%
FCF growth 1Y28.67%
FCF growth 3Y-4.64%
FCF growth 5Y-2.95%
OCF growth 1Y27.68%
OCF growth 3Y-1.39%
OCF growth 5Y-0.53%

MEDTRONIC PLC / MDT FAQ

What is the fundamental rating for MDT stock?

ChartMill assigns a fundamental rating of 6 / 10 to MDT.


What is the valuation status for MDT stock?

ChartMill assigns a valuation rating of 6 / 10 to MEDTRONIC PLC (MDT). This can be considered as Fairly Valued.


What is the profitability of MDT stock?

MEDTRONIC PLC (MDT) has a profitability rating of 8 / 10.


What is the valuation of MEDTRONIC PLC based on its PE and PB ratios?

The Price/Earnings (PE) ratio for MEDTRONIC PLC (MDT) is 18.09 and the Price/Book (PB) ratio is 2.68.


What is the earnings growth outlook for MEDTRONIC PLC?

The Earnings per Share (EPS) of MEDTRONIC PLC (MDT) is expected to grow by 3.62% in the next year.