Medtronic (MDT) Gross Margin (2014 - 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 (2014 - 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 | 250.84 Bn | 229.99 Bn | 4.88 Bn | 40.70% |
| 2 | Abbott Laboratories | 174.73 Bn | 145.82 Bn | 7.27 Bn | 57.71% |
| 3 | Danaher | 159.85 Bn | 143.67 Bn | 3.61 Bn | 57.64% |
| 4 | Intuitive Surgical | 146.79 Bn | 126.35 Bn | 1.96 Bn | 67.78% |
| 5 | Medtronic | 114.54 Bn | 80.41 Bn | 6.34 Bn | 64.99% |
| 6 | Stryker | 105.67 Bn | 91.79 Bn | 4.50 Bn | 68.27% |
| 7 | Boston Scientific | 63.93 Bn | 58.94 Bn | 3.85 Bn | 70.71% |
| 8 | Becton Dickinson | 50.12 Bn | 47.27 Bn | 2.32 Bn | 46.46% |
| 9 | Edwards Lifesciences | 50.06 Bn | 34.17 Bn | 1.35 Bn | 77.46% |
| 10 | Agilent Technologies | 49.40 Bn | 42.29 Bn | 1.04 Bn | 55.48% |
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 64.99% |
| Apr 24, 2026 | 65.35% |
| Jan 23, 2026 | 63.83% |
| Oct 24, 2025 | 65.84% |
| Jul 25, 2025 | 65.02% |
| Apr 25, 2025 | 64.75% |
| Jan 24, 2025 | 66.49% |
| Oct 25, 2024 | 64.94% |
| Jul 26, 2024 | 65.12% |
| Apr 26, 2024 | 64.56% |
| Jan 26, 2024 | 65.61% |
| Oct 27, 2023 | 65.42% |
| Jul 28, 2023 | 65.88% |
| Apr 28, 2023 | 65.14% |
| Jan 27, 2023 | 65.20% |
| Oct 28, 2022 | 66.58% |
| Jul 29, 2022 | 65.87% |
| Apr 29, 2022 | 67.97% |
| Jan 28, 2022 | 68.32% |
| Oct 29, 2021 | 68.18% |
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();