In fiscal 2026, which ended Apr 24, 2026, Medtronic plc generated $7.3 billion of cash from operations, up 4.1% from the year before. It spent $1.9 billion on capital expenditures. That left free cash flow of $5.4 billion. The company returned $3.6 billion in dividends and $1.0 billion in share buybacks to shareholders.
USD in millions, except per-share amounts and ratios. The percent under a figure is the change from the year before.
| Line |
FY 2027
Jul 31, 2026
|
FY 2026
Apr 24, 2026
|
FY 2025
Apr 25, 2025
|
FY 2024
Apr 26, 2024
|
FY 2023
Apr 28, 2023
|
FY 2022
Apr 29, 2022
|
FY 2021
Apr 30, 2021
|
FY 2020
Apr 24, 2020
|
FY 2019
Apr 26, 2019
|
FY 2018
Apr 27, 2018
|
FY 2017
Apr 28, 2017
|
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | |||||||||||
| Depreciation and amortization |
2,939
-0.3%
|
2,958
+3.4%
|
2,861
+8.1%
|
2,647
-1.9%
|
2,697
-0.4%
|
2,707
+0.2%
|
2,702
+1.5%
|
2,663
+0.2%
|
2,659
+0.6%
|
2,644
-9.4%
|
2,917
+3.4%
|
| Stock-based compensation |
496
+14.8%
|
457
+6.5%
|
429
+9.2%
|
393
+10.7%
|
355
-1.1%
|
359
+4.4%
|
344
+15.8%
|
297
+2.4%
|
290
-15.7%
|
344
-1.1%
|
348
-7.2%
|
| Operating cash flow |
8,035
+12.4%
|
7,330
+4.1%
|
7,044
+3.8%
|
6,787
+12.4%
|
6,039
-17.8%
|
7,346
+17.7%
|
6,240
-13.7%
|
7,234
+3.2%
|
7,007
+49.6%
|
4,684
-31.9%
|
6,880
+31.9%
|
| Investing | |||||||||||
| Capital expenditures |
1,903
+3.3%
|
1,904
+2.4%
|
1,859
+17.1%
|
1,587
+8.8%
|
1,459
+6.7%
|
1,368
+1.0%
|
1,355
+11.7%
|
1,213
+7.0%
|
1,134
+6.2%
|
1,068
-14.8%
|
1,254
+19.9%
|
| Investing cash flow |
-3,834
-59.9%
|
-2,934
-51.5%
|
-1,937
+18.1%
|
-2,366
+32.3%
|
-3,493
-110.5%
|
-1,659
+42.1%
|
-2,866
+10.5%
|
-3,203
-313.8%
|
-774
-113.2%
|
5,858
+472.9%
|
-1,571
-170.0%
|
| Financing | |||||||||||
| Debt issued |
—
|
1,747
-45.6%
|
3,209
|
0
-100.0%
|
5,409
|
0
-100.0%
|
7,172
+28.8%
|
5,568
-28.6%
|
7,794
+37014.3%
|
21
-99.0%
|
2,140
|
| Debt repaid |
1,768
|
2,930
|
0
|
0
-100.0%
|
6,012
+601100.0%
|
1
-100.0%
|
7,367
+20.6%
|
6,110
-23.1%
|
7,948
+7.8%
|
7,370
+754.0%
|
863
-83.2%
|
| Short-term debt issued |
—
|
—
|
0
|
0
-100.0%
|
2,284
|
0
-100.0%
|
2,789
|
—
|
—
|
—
|
—
|
| Short-term debt repaid |
—
|
—
|
0
|
0
-100.0%
|
2,279
|
0
-100.0%
|
2,853
|
—
|
—
|
—
|
—
|
| Dividends paid |
3,650
+1.4%
|
3,639
+1.4%
|
3,589
-2.1%
|
3,666
+1.4%
|
3,616
+6.9%
|
3,383
+8.4%
|
3,120
+7.8%
|
2,894
+7.5%
|
2,693
+8.0%
|
2,494
+5.0%
|
2,376
+11.1%
|
| Stock buybacks |
1,179
+36.1%
|
1,035
-68.0%
|
3,235
+51.3%
|
2,138
+231.5%
|
645
-74.6%
|
2,544
+290.2%
|
652
-50.8%
|
1,326
-53.9%
|
2,877
+32.5%
|
2,171
-38.7%
|
3,544
+25.2%
|
| Financing cash flow |
-3,713
+25.9%
|
-4,751
-8.9%
|
-4,361
+2.0%
|
-4,450
+10.3%
|
-4,960
+7.0%
|
-5,336
-29.0%
|
-4,136
+1.5%
|
-4,198
+22.7%
|
-5,431
+54.6%
|
-11,954
-264.1%
|
-3,283
+65.6%
|
| Change in cash | |||||||||||
| Effect of exchange rate |
-71
-131.7%
|
85
-54.8%
|
188
+181.7%
|
-230
-194.7%
|
243
+205.2%
|
-231
-207.4%
|
215
+350.0%
|
-86
-10.3%
|
-78
|
—
|
—
|
| Net change in cash |
418
+1200.0%
|
-269
-128.8%
|
934
+460.6%
|
-259
+88.1%
|
-2,171
-1894.2%
|
121
+122.1%
|
-547
-116.2%
|
-253
-134.9%
|
724
|
—
|
—
|
| Free cash flow |
6,132
+15.6%
|
5,426
+4.6%
|
5,185
-0.3%
|
5,200
+13.5%
|
4,580
-23.4%
|
5,978
+22.4%
|
4,885
-18.9%
|
6,021
+2.5%
|
5,873
+62.4%
|
3,616
-35.7%
|
5,626
+34.9%
|
| Per share | |||||||||||
| Free cash flow per share |
4.76
+15.6%
|
4.21
+4.8%
|
4.02
+2.8%
|
3.91
+13.8%
|
3.44
-22.3%
|
4.42
+22.6%
|
3.61
-19.0%
|
4.46
+3.0%
|
4.33
+63.7%
|
2.64
-34.6%
|
4.04
+38.2%
|
| Dividend per share |
2.85
+1.4%
|
2.84
+1.4%
|
2.80
+1.4%
|
2.76
+1.5%
|
2.72
+7.9%
|
2.52
+8.6%
|
2.32
+7.4%
|
2.16
+8.0%
|
2.00
+8.7%
|
1.84
+7.0%
|
1.72
+13.2%
|
| Shareholder returns | |||||||||||
| Returned to shareholders |
4,829
|
4,674
|
6,824
|
5,804
|
4,261
|
5,927
|
3,772
|
4,220
|
5,570
|
4,665
|
5,920
|
| Share of free cash flow |
78.75%
|
86.14%
|
131.61%
|
111.62%
|
93.03%
|
99.15%
|
77.22%
|
70.09%
|
94.84%
|
129.01%
|
105.23%
|
| Ratios | |||||||||||
| Free cash flow margin |
16.33%
|
14.92%
|
15.46%
|
16.07%
|
14.67%
|
18.87%
|
16.22%
|
20.82%
|
19.22%
|
12.07%
|
18.94%
|
| Capital expenditures to revenue |
5.07%
|
5.24%
|
5.54%
|
4.90%
|
4.67%
|
4.32%
|
4.50%
|
4.20%
|
3.71%
|
3.57%
|
4.22%
|
| Stock-based compensation to revenue |
1.32%
|
1.26%
|
1.28%
|
1.21%
|
1.14%
|
1.13%
|
1.14%
|
1.03%
|
0.95%
|
1.15%
|
1.17%
|
| Cash conversion |
1.54x
|
1.53x
|
1.51x
|
1.85x
|
1.61x
|
1.46x
|
1.73x
|
1.51x
|
1.51x
|
1.51x
|
1.71x
|
How these figures are calculated
Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and ratios. Capital expenditures, debt repaid, dividends, and buybacks are positive amounts. Investing and financing cash flow keep the filing sign, so an outflow is negative. Free cash flow is operating cash flow minus capital expenditures. The first column is the trailing twelve months through the latest quarter. Returned to shareholders is dividends plus buybacks. Free cash flow margin, capital expenditures, and stock-based compensation are divided by revenue. Cash conversion is operating cash flow divided by net income. More on our methodology.
Company profile
- Industry
- Electromedical & Electrotherapeutic Apparatus (SIC 3845)
- Listed as
- MDT (NYSE)
- Fiscal year ends
- April 24
- Headquarters
- Galway
- SEC filer status
- Large accelerated filer
- SEC CIK
- 1613103
- Former names
- Medtronic Ltd (until Jan 15, 2015); Medtronic Holdings Ltd (until Nov 21, 2014)
Other Electromedical & Electrotherapeutic Apparatus companies
- LivaNova PLC LIVN
- Integer Holdings Corp ITGR
- Axogen, Inc. AXGN
- TransMedics Group, Inc. TMDX
- CONMED Corp CNMD
- Ceribell, Inc. CBLL
- InMode Ltd. INMD
- CapsoVision, Inc CV
All 31 Electromedical & Electrotherapeutic Apparatus companies
Source: SEC EDGAR filings. This is company-reported data, not investment advice.