How does Medtronic (MDT) make money?

Medtronic (MDT) primarily makes money through Cardiac and Vascular Group, which accounts for 38.5% of total revenue. For TTM through Q1 2026, Medtronic generated $35.48B in total revenue with a net profit margin of 13%.

What is Medtronic (MDT) gross profit margin?

Medtronic (MDT) reported a gross profit margin of 61.9% for TTM through Q1 2026, equivalent to $21.98B in gross profit. This means Medtronic retains 61.9% of each revenue unit after direct costs of production.

What is Medtronic (MDT) operating profit margin?

Medtronic (MDT) reported an operating profit margin of 17.9% for TTM through Q1 2026, equivalent to $6.34B in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.

What is Medtronic (MDT) net profit margin?

Medtronic (MDT) reported a net profit margin of 13% for TTM through Q1 2026, equivalent to $4.61B in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.

How much does Medtronic (MDT) invest in R&D?

Medtronic (MDT) invested $2.89B in research and development in TTM through Q1 2026 (8.1% of total revenue). R&D spending reflects investment in future products, services, and technologies.

How much does Medtronic (MDT) spend on capital expenditures?

Medtronic (MDT) spent $1.88B on capital expenditures in TTM through Q1 2026 (5.3% of total revenue). Capital expenditures represent investments in physical assets such as property, equipment, and infrastructure.

What is Medtronic (MDT) free cash flow?

Medtronic (MDT) generated $5.41B in free cash flow for TTM through Q1 2026 (15.2% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.

What is Medtronic (MDT) effective tax rate?

Medtronic (MDT) had an effective tax rate of 16.6% for TTM through Q1 2026. This is the actual percentage of pre-tax income paid as income taxes.

How Medtronic (MDT) Makes Money: A Visual Guide

Medtronic (MDT) generated $35.48B in revenue, earning $4.61B in net profit (13% margin). Its largest revenue source is Cardiac and Vascular Group (38.5% of revenue). Below is an interactive breakdown of how revenue flows through the income statement.

Medtronic (MDT) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending January 23, 2026 (reported February 24, 2026).

Frequently asked questions

How does Medtronic (MDT) make money?: Medtronic (MDT) primarily makes money through Cardiac and Vascular Group, which accounts for 38.5% of total revenue. For TTM through Q1 2026, Medtronic generated $35.48B in total revenue with a net profit margin of 13%.
What is Medtronic (MDT) gross profit margin?: Medtronic (MDT) reported a gross profit margin of 61.9% for TTM through Q1 2026, equivalent to $21.98B in gross profit. This means Medtronic retains 61.9% of each revenue unit after direct costs of production.
What is Medtronic (MDT) operating profit margin?: Medtronic (MDT) reported an operating profit margin of 17.9% for TTM through Q1 2026, equivalent to $6.34B in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.
What is Medtronic (MDT) net profit margin?: Medtronic (MDT) reported a net profit margin of 13% for TTM through Q1 2026, equivalent to $4.61B in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.
How much does Medtronic (MDT) invest in R&D?: Medtronic (MDT) invested $2.89B in research and development in TTM through Q1 2026 (8.1% of total revenue). R&D spending reflects investment in future products, services, and technologies.
How much does Medtronic (MDT) spend on capital expenditures?: Medtronic (MDT) spent $1.88B on capital expenditures in TTM through Q1 2026 (5.3% of total revenue). Capital expenditures represent investments in physical assets such as property, equipment, and infrastructure.
What is Medtronic (MDT) free cash flow?: Medtronic (MDT) generated $5.41B in free cash flow for TTM through Q1 2026 (15.2% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.
What is Medtronic (MDT) effective tax rate?: Medtronic (MDT) had an effective tax rate of 16.6% for TTM through Q1 2026. This is the actual percentage of pre-tax income paid as income taxes.

Data & methodology

What is a Sankey diagram?: A Sankey diagram shows how money flows through a company from revenue to net profit. The width of each flow represents its proportion.
How is the data calculated?: We use the income statement from company filings. For TTM (Trailing Twelve Months), we use a pre-aggregated twelve-month view aligned with our latest four quarterly periods. Revenue flows to cost of revenue and gross profit, then to operating expenses (R&D, S&M, G&A) and operating profit.
When was this data last updated?: Based on company filings through TTM through Q1 2026.