Medtronic (MDT) Gross Margin (2014 - 2026)
Medtronic (MDT) reported Gross Margin of 65.35% for Q2 2026, up 60.0% on a YoY basis from 40.84% in Q2 2025, and up 2.38% sequentially from 63.83% in Q1 2026.
Medtronic (MDT) Gross Margin (2014 - 2026) Analysis & Trends
Medtronic (MDT) has 13 years of Gross Margin data on file, last reported at 65.35% in Q2 2026.
- For the quarter ending Q2 2026, Gross Margin rose 60.0% year-over-year to 65.35%; the trailing twelve-month figure through Apr 2026 stood at 65.02% (down 30.0% YoY), and the FY2026 full-year result was 65.02%, down 30.0% from the prior year.
- Gross Margin advanced to 65.35% in Q2 2026, from 63.83% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 68.32% in Q1 2022 to a low of 63.83% in Q1 2026.
- A 5-year average of 65.66% and a median of 65.38% in 2023 frame the typical range for Gross Margin.
- Across the five-year window, Gross Margin soared 203 bps in 2022 and slumped 312 bps in 2023, its largest moves.
- Tracing MDT's Gross Margin over 5 years: stood at 66.58% in 2022, then declined by 2 bps to 65.42% in 2023, then dropped by 1 bps to 64.94% in 2024, then grew by 1 bps to 65.84% in 2025, then decreased by 1 bps to 65.35% in 2026.
- Business Quant data shows MDT's Gross Margin at 65.35% in Q2 2026, 63.83% in Q1 2026, and 65.84% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Abbott Laboratories | 201.40 Bn | 194.75 Bn | 6.27 Bn | 56.20% |
| 2 | Stryker | 122.29 Bn | 119.41 Bn | 3.81 Bn | 63.29% |
| 3 | Medtronic | 105.01 Bn | 96.40 Bn | 6.41 Bn | 65.35% |
| 4 | Boston Scientific | 64.81 Bn | 63.59 Bn | 3.61 Bn | 69.46% |
| 5 | Edwards Lifesciences | 55.28 Bn | 51.60 Bn | 1.29 Bn | 78.01% |
| 6 | Dexcom | 29.06 Bn | 27.94 Bn | 750.30 Mn | 62.95% |
| 7 | Koninklijke Philips | 29.02 Bn | 25.93 Bn | 2.07 Bn | 45.22% |
| 8 | GE HealthCare Technologies | 28.27 Bn | 26.20 Bn | 1.98 Bn | 38.53% |
| 9 | Smith & Nephew | 25.80 Bn | 25.22 Bn | - | - |
| 10 | Steris | 20.59 Bn | 20.16 Bn | 697.10 Mn | 43.89% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| Jul 30, 2021 | 67.47% |