Buyback yield (TTM)
0.97%
Shareholder yield (TTM)
4.38%
5Y share count change
-4.9%
Buyback spend (TTM)
$1.03B
Cumulative buybacks
$44.06B
Key takeaways
- Medtronic (MDT) repurchased about $1.03B of stock over the trailing twelve months.
- Diluted share count is down 4.9% over the last ~5 fiscal years — buybacks are net-shrinking the share base.
- TTM buyback ÷ stock-based-comp ratio of 2.26× — repurchases more than cover SBC dilution.
- Cash buyback spend has compounded at +9.7% per year over the latest 5-year window.
- TTM repurchases used about 58% of free cash flow remaining after dividends.
Dividend & buyback yield over time for Medtronic (MDT)
Stacked annual yields — buyback yield (TTM cash repurchases ÷ market cap) plus dividend yield from the same fiscal-year-end key-metrics period — show how total cash return per dollar of equity has evolved.
Diluted vs basic shares (annual) for Medtronic (MDT)
Diluted weighted-average shares are the EPS denominator — a falling count means buybacks are outpacing SBC dilution.
Year-over-year change in diluted shares for Medtronic (MDT)
Green is fewer shares vs the prior fiscal year (net repurchase); red is growth (dilution). The earliest year shown has no prior year to compare.
Cash buyback spend over time for Medtronic (MDT)
Latest: $1.03B
Overview
Medtronic (MDT) most recent annual buyback spend stands at $1.03B (2026) – plunged 68.0% year-over-year.
Medtronic buyback spend compound annual growth for the 2021–2026 (5 years) window is +9.7%, with mixed annual results across the window.
Medtronic buyback spend plunged from $4.66B in 2006 to $1.03B in 2026, a 77.8% drawdown.
The record annual buyback spend stands at $4.66B, reached in 2006; the historical low of $0.00 was recorded in 2001.
Medtronic Buyback Spend 2026: $1.03B
In 2026, Medtronic reported buyback spend of $1.03B, plunged 68.0% below 2025.
Medtronic Buyback Spend 2025: $3.23B
Medtronic buyback spend in 2025 was $3.23B, surged 51.3% from 2024.
Medtronic Buyback Spend 2024: $2.14B
2024's buyback spend for Medtronic came in at $2.14B, surged 231.5% from 2023.
Medtronic Buyback Spend 2023: $645.00M
Medtronic posted buyback spend of $645.00M in 2023, plunged 74.6% below 2022.
Medtronic Buyback Spend 2022: $2.54B
Medtronic buyback spend in 2022 was $2.54B.
See more financial history for Medtronic (MDT).
Buyback, SBC & dilution history
Buyback spend, SBC, net dilution effect, and share count.
| 2026 | $1.03B | $457.00M | $578.00M | 0.97% | 1.29B | -0.1% | |
| 2025 | $3.23B | $429.00M | $2.81B | 3.00% | 1.29B | -3.0% | |
| 2024 | $2.14B | $393.00M | $1.75B | 2.03% | 1.33B | -0.2% | |
| 2023 | $645.00M | $355.00M | $290.00M | 0.53% | 1.33B | -1.4% | |
| 2022 | $2.54B | $359.00M | $2.19B | 1.82% | 1.35B | -0.2% | |
| 2021 | $652.00M | $344.00M | $308.00M | 0.37% | 1.35B | +0.2% | |
| 2020 | $1.33B | $297.00M | $1.03B | 1.01% | 1.35B | -0.5% | |
| 2019 | $2.88B | $290.00M | $2.59B | 2.42% | 1.36B | -0.8% | |
| 2018 | $2.17B | $344.00M | $1.83B | 2.00% | 1.37B | -1.7% | |
| 2017 | $3.54B | $348.00M | $3.20B | 3.09% | 1.39B | -2.4% | |
| 2016 | $2.83B | $376.00M | $2.45B | 2.55% | 1.43B | +28.6% | |
| 2015 | $1.92B | $439.00M | $1.48B | 1.81% | 1.11B | +9.4% | |
| 2014 | $2.55B | $145.00M | $2.41B | 4.34% | 1.01B | -1.4% | |
| 2013 | $1.25B | $152.00M | $1.09B | 2.63% | 1.03B | -3.1% | |
| 2012 | $1.44B | $161.00M | $1.28B | 3.62% | 1.06B | -2.0% | |
| 2011 | $1.14B | $198.00M | $942.00M | 2.55% | 1.08B | -2.5% | |
| 2010 | $1.03B | $226.00M | $804.00M | 2.14% | 1.11B | -1.5% | |
| 2009 | $759.00M | $237.00M | $522.00M | 2.13% | 1.13B | -1.4% | |
| 2008 | $1.54B | $217.00M | $1.33B | 2.82% | 1.14B | -1.7% | |
| 2007 | $1.04B | $0.00 | $1.04B | 1.71% | 1.16B | -4.6% | |
| 2006 | $4.66B | $0.00 | $4.66B | 7.85% | 1.22B | -0.1% | |
| 2005 | $511.00M | $0.00 | $511.00M | 0.80% | 1.22B | -0.5% | |
| 2004 | $880.50M | $0.00 | $880.50M | 1.44% | 1.23B | -0.2% | |
| 2003 | $418.50M | $0.00 | $418.50M | 0.72% | 1.23B | +0.3% | |
| 2002 | $25.60M | $0.00 | $25.60M | 0.05% | 1.22B | -0.1% | |
| 2001 | $0.00 | $0.00 | $0.00 | — | 1.23B | +0.2% | |
| 2000 | $497.40M | $0.00 | $497.40M | — | 1.22B | +1.3% | |
| 1999 | $377.20M | $0.00 | $377.20M | — | 1.21B | +2.6% | |
| 1998 | $168.20M | $0.00 | $168.20M | — | 1.18B | +0.9% | |
| 1997 | $476.60M | $0.00 | $476.60M | — | 1.17B | — | |
| 1996 | $33.60M | $0.00 | $33.60M | — | — | — | |
| 1995 | $59.10M | $0.00 | $59.10M | — | — | — | |
| 1994 | $53.40M | $0.00 | $53.40M | — | — | — | |
| 1993 | $142.90M | $0.00 | $142.90M | — | — | — | |
| 1992 | $38.30M | $0.00 | $38.30M | — | — | — | |
| 1991 | $4.60M | $0.00 | $4.60M | — | — | — | |
| 1990 | $37.50M | $0.00 | $37.50M | — | — | — |
- 2026$1.03B
- 2025$3.23B
- 2024$2.14B
- 2023$645.00M
- 2022$2.54B
- 2021$652.00M
- 2020$1.33B
- 2019$2.88B
- 2018$2.17B
- 2017$3.54B
- 2016$2.83B
- 2015$1.92B
- 2014$2.55B
- 2013$1.25B
- 2012$1.44B
- 2011$1.14B
- 2010$1.03B
- 2009$759.00M
- 2008$1.54B
- 2007$1.04B
- 2006$4.66B
- 2005$511.00M
- 2004$880.50M
- 2003$418.50M
- 2002$25.60M
- 2001$0.00
- 2000$497.40M
- 1999$377.20M
- 1998$168.20M
- 1997$476.60M
- 1996$33.60M
- 1995$59.10M
- 1994$53.40M
- 1993$142.90M
- 1992$38.30M
- 1991$4.60M
- 1990$37.50M
Buybacks vs stock-based compensation for Medtronic (MDT)
Annual cash repurchases set against stock-based compensation. Coverage above 1× means buybacks fully offset the equity dilution from SBC. TTM coverage: 2.26×.
Buybacks vs dividends (share of cash returned) for Medtronic (MDT)
How Medtronic splits cash returned to shareholders between dividends and buybacks.
Sector peers by buyback spend
Companies in the same sector as Medtronic, ranked by their latest buyback spend.
| $5.95B | |
| $5.54B | |
| $5.08B | |
| $4.11B | |
| $980.00M | |
| $216.35M | |
| $0.00 | |
| $0.00 |
- $5.95B
- $5.54B
- $5.08B
- $4.11B
- $980.00M
- $216.35M
- $0.00
- $0.00
Buyback capacity (TTM)
Free cash flow minus dividends paid versus actual TTM repurchases — the headroom bar shows how much of post-dividend FCF is still being deployed elsewhere.
Headroom $1.79B (TTM FCF − TTM dividends, clamped at zero).
Frequently asked questions
Data & methodology
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