Medtronic (MDT) Operating Expenses (2013 - 2026)

Medtronic (MDT) reported Operating Expenses of $3.6 billion for Q2 2026, down 3.26% on a YoY basis from $3.7 billion in Q2 2025, and down 6.75% sequentially from $3.8 billion in Q1 2026.

Medtronic (MDT) Operating Expenses (2013 - 2026) Analysis & Trends

Medtronic (MDT) has 14 years of Operating Expenses data on file, last reported at $3.6 billion in Q2 2026.

  • For the quarter ending Q2 2026, Operating Expenses fell 3.26% year-over-year to $3.6 billion; the trailing twelve-month figure through Apr 2026 stood at $14.8 billion (up 5.21% YoY), and the FY2026 full-year result was $14.8 billion, up 6.27% from the prior year.
  • Operating Expenses retreated to $3.6 billion in Q2 2026, from $3.8 billion in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $3.8 billion in Q1 2026 to a low of $3.3 billion in Q1 2022.
  • A 5-year average of $3.5 billion and a median of $3.5 billion in 2023 frame the typical range for Operating Expenses.
  • Peak annual rise in Operating Expenses reached 12.08% in 2026, while the deepest fall reached 3.26% in 2026.
  • Tracing MDT's Operating Expenses over 5 years: stood at $3.4 billion in 2022, then climbed by 2.57% to $3.5 billion in 2023, then grew by 0.72% to $3.5 billion in 2024, then advanced by 6.63% to $3.7 billion in 2025, then retreated by 3.8% to $3.6 billion in 2026.
  • Business Quant data shows MDT's Operating Expenses at $3.6 billion in Q2 2026, $3.8 billion in Q1 2026, and $3.7 billion in Q4 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Abbott Laboratories 201.40 Bn 194.75 Bn 6.27 Bn 9.82 Bn
2 Stryker 122.29 Bn 119.41 Bn 3.81 Bn 2.87 Bn
3 Medtronic 105.01 Bn 96.40 Bn 6.41 Bn 3.59 Bn
4 Boston Scientific 64.81 Bn 63.59 Bn 3.61 Bn 2.51 Bn
5 Edwards Lifesciences 55.28 Bn 51.60 Bn 1.29 Bn 785.50 Mn
6 Dexcom 29.06 Bn 27.94 Bn 750.30 Mn 495.00 Mn
7 Koninklijke Philips 29.02 Bn 25.93 Bn 2.07 Bn -668.50 Mn
8 GE HealthCare Technologies 28.27 Bn 26.20 Bn 1.98 Bn 1.46 Bn
9 Smith & Nephew 25.80 Bn 25.22 Bn - -47.00 Mn
10 Steris 20.59 Bn 20.16 Bn 697.10 Mn 380.30 Mn

Historic Data

Download Data
DateValue
Apr 24, 2026 3.59 Bn
Jan 23, 2026 3.85 Bn
Oct 24, 2025 3.73 Bn
Jul 25, 2025 3.60 Bn
Apr 25, 2025 3.71 Bn
Jan 24, 2025 3.44 Bn
Oct 25, 2024 3.50 Bn
Jul 26, 2024 3.39 Bn
Apr 26, 2024 3.74 Bn
Jan 26, 2024 3.42 Bn
Oct 27, 2023 3.48 Bn
Jul 28, 2023 3.37 Bn
Apr 28, 2023 3.56 Bn
Jan 27, 2023 3.41 Bn
Oct 28, 2022 3.39 Bn
Jul 29, 2022 3.34 Bn
Apr 29, 2022 3.38 Bn
Jan 28, 2022 3.31 Bn
Oct 29, 2021 3.29 Bn
Jul 30, 2021 3.30 Bn