Medtronic (MDT) Gross Margin (2014 - 2026)

Medtronic (MDT) posted Gross Margin of 65.35% for Q2 2026, up 2.38% sequentially from 63.83% in Q1 2026, and up 60.0% YoY from 40.84% in Q2 2025.

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

Medtronic has reported Gross Margin for 13 years, with the latest figure at 65.35% in Q2 2026.

Quarterly Gross Margin rose 60.0% year-over-year to 65.35% in Q2 2026, while the trailing twelve-month figure through Apr 2026 was 65.02% (down 30.0% YoY) and the FY2026 annual result came in at 65.02%, down 30.0% from the prior year.
Gross Margin advanced to 65.35% in Q2 2026 per MDT's latest filing, from 63.83% in the prior quarter.
Over five years, Gross Margin peaked at 68.32% in Q1 2022 and troughed at 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.
The sharpest annual moves came in 2022 and 2023: Gross Margin surged 203 bps in 2022, then plunged 312 bps in 2023.
Over 5 years, Gross Margin stood at 66.58% in 2022, then decreased by 2 bps to 65.42% in 2023, then retreated by 1 bps to 64.94% in 2024, then gained by 1 bps to 65.84% in 2025, then declined by 1 bps to 65.35% in 2026.
According to Business Quant data, Gross Margin over the past three periods registered 65.35%, 63.83%, and 65.84% for Q2 2026, Q1 2026, and Q4 2025 respectively.

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	Gross Margin (Qtr)
1	Abbott Laboratories	199.12 Bn	193.52 Bn	7.27 Bn	57.71%
2	Stryker	128.79 Bn	125.32 Bn	4.50 Bn	68.27%
3	Medtronic	119.30 Bn	110.08 Bn	6.41 Bn	65.35%
4	Boston Scientific	73.50 Bn	72.96 Bn	3.85 Bn	70.71%
5	Edwards Lifesciences	52.11 Bn	47.86 Bn	1.35 Bn	77.46%
6	Dexcom	34.62 Bn	32.67 Bn	830.00 Mn	63.44%
7	GE HealthCare Technologies	34.05 Bn	31.94 Bn	2.18 Bn	41.17%
8	Koninklijke Philips	26.42 Bn	23.10 Bn	4.55 Bn	47.38%
9	Steris	23.15 Bn	22.67 Bn	684.20 Mn	45.84%
10	Zimmer Biomet Holdings	19.32 Bn	18.91 Bn	1.54 Bn	70.81%

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