Medtronic (MDT) FCF Margin (2014 - 2026)

Medtronic (MDT) posted FCF Margin of 21.26% for Q2 2026, down 16.65% sequentially from 25.51% in Q1 2026, and down 192.0% YoY from 23.11% in Q2 2025.

Medtronic (MDT) FCF Margin (2014 - 2026) Analysis & Trends

Medtronic has reported FCF Margin for 13 years, with the latest figure at 21.26% in Q2 2026.

Quarterly FCF Margin fell 192.0% year-over-year to 21.26% in Q2 2026, while the trailing twelve-month figure through Apr 2026 was 14.92% (down 54.0% YoY) and the FY2026 annual result came in at 14.92%, down 54.0% from the prior year.
FCF Margin declined to 21.26% in Q2 2026 per MDT's latest filing, from 25.51% in the prior quarter.
Over five years, FCF Margin peaked at 27.37% in Q2 2024 and troughed at 2.51% in Q4 2023.
A 5-year average of 15.83% and a median of 18.35% in 2023 frame the typical range for FCF Margin.
The sharpest annual moves came in 2022 and 2024: FCF Margin tumbled 1119 bps in 2022, then jumped 1023 bps in 2024.
Over 5 years, FCF Margin stood at 7.9% in 2022, then slumped by 68 bps to 2.51% in 2023, then jumped by 163 bps to 6.59% in 2024, then decreased by 23 bps to 5.1% in 2025, then soared by 317 bps to 21.26% in 2026.
According to Business Quant data, FCF Margin over the past three periods registered 21.26%, 25.51%, and 5.1% for Q2 2026, Q1 2026, and Q4 2025 respectively.

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	FCF Margin (Qtr)
1	Abbott Laboratories	199.61 Bn	194.01 Bn	7.27 Bn	15.81%
2	Stryker	127.81 Bn	124.34 Bn	4.50 Bn	16.07%
3	Medtronic	119.04 Bn	109.82 Bn	6.41 Bn	21.26%
4	Boston Scientific	73.68 Bn	73.14 Bn	3.85 Bn	23.50%
5	Edwards Lifesciences	51.96 Bn	47.71 Bn	1.35 Bn	33.60%
6	Dexcom	34.36 Bn	32.41 Bn	830.00 Mn	14.10%
7	GE HealthCare Technologies	33.83 Bn	31.72 Bn	2.18 Bn	1.28%
8	Koninklijke Philips	26.36 Bn	23.04 Bn	4.55 Bn	5.32%
9	Steris	23.06 Bn	22.58 Bn	684.20 Mn	18.73%
10	Zimmer Biomet Holdings	19.25 Bn	18.84 Bn	1.54 Bn	18.08%

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