Question 1

What is Medtronic's P/S ratio?

Accepted Answer

Medtronic (MDT) P/S ratio is 2.9× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

What is a good P/S ratio for Medtronic?

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For Medtronic specifically, the relevant sector benchmark is the current sector median of 3.5×.

Question 5

Is Medtronic's P/S ratio high or low?

Accepted Answer

Medtronic's P/S ratio of 2.9× is below its own 5-year average of 3.8× and below the sector median of 3.5×. That places the current reading at the 2th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Medtronic's historical P/S ratio range?

Accepted Answer

In the available daily series, Medtronic (MDT) P/S ratio has ranged from a low of 2.2× in 2011 to a high of 9.7× in 2002. The 5-year average is 3.8× and the 5-year median is 3.6×.

Question 7

What was Medtronic's P/S ratio in 2026?

Accepted Answer

Medtronic (MDT) P/S ratio at the end of 2026 was 2.9×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

Why does Medtronic's P/S ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2026	$106.80B	$36.36B	2.9×	—	Apr 24, 2026
2025	—	$33.54B	—	—	Apr 30, 2025
2024	—	$32.36B	—	—	Apr 30, 2024
2023	$120.64B	$31.23B	3.9×	-0.5×	Apr 30, 2023
2022	$139.59B	$31.69B	4.4×	-1.5×	Apr 30, 2022
2021	$176.39B	$30.12B	5.9×	+1.3×	Apr 30, 2021
2020	$130.88B	$28.91B	4.5×	+0.6×	Apr 30, 2020
2019	$119.06B	$30.56B	3.9×	+0.3×	Apr 30, 2019
2018	$108.57B	$29.95B	3.6×	-0.2×	Apr 30, 2018
2017	$114.64B	$29.71B	3.9×	+0.0×	Apr 30, 2017
2016	$110.87B	$28.83B	3.8×	-1.4×	Apr 30, 2016
2015	$105.89B	$20.26B	5.2×	+1.8×	Apr 30, 2015
2014	$58.82B	$17.01B	3.5×	+0.6×	Apr 30, 2014
2013	$47.34B	$16.59B	2.9×	+0.4×	Apr 30, 2013
2012	$39.73B	$16.40B	2.4×	-0.4×	Apr 30, 2012
2011	$44.68B	$15.93B	2.8×	-0.2×	Apr 30, 2011
2010	$48.07B	$15.82B	3.0×	+0.6×	Apr 30, 2010
2009	$35.68B	$14.60B	2.4×	-1.6×	Apr 30, 2009
2008	$54.72B	$13.52B	4.0×	-0.9×	Apr 30, 2008
2007	$60.68B	$12.30B	4.9×	-0.3×	Apr 30, 2007
2006	$59.43B	$11.29B	5.3×	-1.1×	Apr 30, 2006
2005	$63.67B	$10.05B	6.3×	-0.4×	Apr 30, 2005
2004	$61.08B	$9.09B	6.7×	-0.9×	Apr 30, 2004
2003	$58.17B	$7.67B	7.6×	-0.9×	Apr 30, 2003
2002	$54.18B	$6.41B	8.5×	—	Apr 30, 2002


Zimmer Biomet Holdings (ZBH)	2.1×
AptarGroup (ATR)	2.1×
Becton, Dickinson and (BDX)	2.1×
Charles River (CRL)	1.9×
Quest Diagnostics (DGX)	1.9×
IQVIA (IQV)	1.7×
GE HealthCare (GEHC)	1.6×
Labcorp Holdings (LH)	1.6×
HCA Healthcare (HCA)	1.4×
Solventum (SOLV)	1.4×
Viatris (VTRS)	1.1×
Baxter International (BAX)	0.8×
DaVita (DVA)	0.7×
Henry Schein (HSIC)	0.6×
Universal Health Services (UHS)	0.6×
UnitedHealth Group (UNH)	0.5×
Elevance Health (ELV)	0.3×
McKesson (MCK)	0.3×
Cigna (CI)	0.3×
CVS Health (CVS)	0.2×
Cardinal Health (CAH)	0.2×
Cencora (COR)	0.2×
Humana (HUM)	0.2×
Molina Healthcare (MOH)	0.2×
Centene (CNC)	0.1×

P/S Ratio for Medtronic (MDT)

P/S Ratio daily chart for Medtronic (MDT)

Historical P/S Ratio for Medtronic (MDT) from 2002 to 2026

About P/S Ratio at Medtronic (MDT)

Medtronic P/S Ratio by Year

Medtronic P/S Ratio 2026: 2.9×

Medtronic P/S Ratio 2023: 3.9×

Medtronic P/S Ratio 2022: 4.4×

Medtronic P/S Ratio 2021: 5.9×

Medtronic P/S Ratio 2020: 4.5×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

Medtronic (MDT) Key Financials

P/S Ratio daily chart for Medtronic (MDT)

Historical P/S Ratio for Medtronic (MDT) from 2002 to 2026

About P/S Ratio at Medtronic (MDT)

Medtronic P/S Ratio by Year

Medtronic P/S Ratio 2026: 2.9×

Medtronic P/S Ratio 2023: 3.9×

Medtronic P/S Ratio 2022: 4.4×

Medtronic P/S Ratio 2021: 5.9×

Medtronic P/S Ratio 2020: 4.5×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

+What is Medtronic's P/S ratio?

+How is the P/S ratio calculated?

+What is the P/S ratio?

+What is a good P/S ratio for Medtronic?

+Is Medtronic's P/S ratio high or low?

+What is Medtronic's historical P/S ratio range?

+What was Medtronic's P/S ratio in 2026?

+Why does Medtronic's P/S ratio change over time?

Medtronic (MDT) Key Financials