Medtronic (MDT) Gross Margin (2013 - 2026)
Medtronic (MDT) recorded Gross Margin of 64.99% in fiscal Q1 2027 (quarter ended Jul 31, 2026), down 0.03 percentage points from 65.02% a year earlier and down 0.37 percentage points from the prior quarter.
Medtronic (MDT) Gross Margin (2013 - 2026) Analysis & Trends
On a TTM basis, Medtronic's Gross Margin came in at 65.01% as of Jul 31, 2026, down 0.27 percentage points year-over-year; for FY2026 (ended Apr 24, 2026), it was 65.02%, down 0.30 percentage points from FY2025.
- Annual Gross Margin has declined for four straight fiscal years, with a five-year change of -0.17 percentage points (FY2021 to FY2026).
- Across earlier fiscal years, Gross Margin came in at 65.32% in FY2025 (-0.03 pp), 65.34% in FY2024 (-0.33 pp), 65.67% in FY2023 (-2.31 pp) and 67.98% in FY2022 (+2.79 pp).
- Quarterly Gross Margin has ranged from 63.83% in fiscal Q3 2026 to 68.32% in fiscal Q3 2022 over the past five years.
- On a year-over-year basis, Gross Margin rose in four of the last eight quarters, with an average year-over-year change of -0.09 percentage points.
- Peak year-over-year performance for Gross Margin in the last five years was a gain of 3.55 percentage points in fiscal Q2 2022, against a drop of 3.12 percentage points in fiscal Q3 2023 at the low end.
- Per Business Quant, the preceding three fiscal quarters came in at 65.35% (Q4 2026), 63.83% (Q3 2026) and 65.84% (Q2 2026).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Thermo Fisher Scientific | 259.20 Bn | 235.84 Bn | 5.13 Bn | 42.28% |
| 2 | Abbott Laboratories | 185.80 Bn | 160.26 Bn | 7.39 Bn | 56.75% |
| 3 | Danaher | 162.50 Bn | 142.16 Bn | 3.84 Bn | 58.54% |
| 4 | Intuitive Surgical | 155.58 Bn | 135.87 Bn | 2.08 Bn | 68.37% |
| 5 | Medtronic | 132.09 Bn | 97.61 Bn | 6.34 Bn | 64.99% |
| 6 | Stryker | 119.74 Bn | 105.93 Bn | 4.25 Bn | 65.15% |
| 7 | Boston Scientific | 64.30 Bn | 59.73 Bn | 3.43 Bn | 66.72% |
| 8 | Edwards Lifesciences | 61.87 Bn | 45.07 Bn | 1.35 Bn | 78.48% |
| 9 | Agilent Technologies | 48.79 Bn | 41.68 Bn | 1.04 Bn | 55.48% |
| 10 | GE HealthCare Technologies | 37.41 Bn | 25.64 Bn | 2.22 Bn | 40.34% |
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 64.99% |
| Apr 24, 2026 | 65.35% |
| Oct 24, 2025 | 65.84% |
| Jul 25, 2025 | 65.02% |
| Oct 25, 2024 | 64.94% |
| Jul 26, 2024 | 65.12% |
| Oct 27, 2023 | 65.42% |
| Jul 28, 2023 | 65.88% |
| Oct 28, 2022 | 66.58% |
| Jul 29, 2022 | 65.87% |
| Oct 29, 2021 | 68.18% |
| Jul 30, 2021 | 67.47% |
| Oct 30, 2020 | 64.63% |
| Jul 31, 2020 | 61.50% |
| Apr 24, 2020 | 62.25% |
| Oct 25, 2019 | 68.93% |
| Jul 26, 2019 | 68.42% |
| Apr 26, 2019 | 69.52% |
| Oct 26, 2018 | 70.55% |
| Jul 27, 2018 | 70.15% |
Medtronic Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=MDT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "MDT", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=MDT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();