Medtronic (MDT) Operating Expenses (2013 - 2026)
Medtronic (MDT) posted Operating Expenses of $3.6 billion for Q2 2026, down 6.75% sequentially from $3.8 billion in Q1 2026, and down 3.26% YoY from $3.7 billion in Q2 2025.
Medtronic (MDT) Operating Expenses (2013 - 2026) Analysis & Trends
Medtronic has reported Operating Expenses for 14 years, with the latest figure at $3.6 billion in Q2 2026.
- Quarterly Operating Expenses fell 3.26% year-over-year to $3.6 billion in Q2 2026, while the trailing twelve-month figure through Apr 2026 was $14.8 billion (up 5.21% YoY) and the FY2026 annual result came in at $14.8 billion, up 6.27% from the prior year.
- Operating Expenses retreated to $3.6 billion in Q2 2026 per MDT's latest filing, from $3.8 billion in the prior quarter.
- Over five years, Operating Expenses peaked at $3.8 billion in Q1 2026 and troughed at $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.
- The widest YoY moves for Operating Expenses: up 12.08% in 2026, down 3.26% in 2026.
- Over 5 years, Operating Expenses stood at $3.4 billion in 2022, then rose by 2.57% to $3.5 billion in 2023, then gained by 0.72% to $3.5 billion in 2024, then increased by 6.63% to $3.7 billion in 2025, then dropped by 3.8% to $3.6 billion in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $3.6 billion, $3.8 billion, and $3.7 billion for Q2 2026, Q1 2026, and Q4 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Abbott Laboratories | 199.90 Bn | 194.30 Bn | 7.27 Bn | 10.90 Bn |
| 2 | Stryker | 130.01 Bn | 126.54 Bn | 4.50 Bn | 2.84 Bn |
| 3 | Medtronic | 120.53 Bn | 111.31 Bn | 6.41 Bn | 3.59 Bn |
| 4 | Boston Scientific | 74.77 Bn | 74.24 Bn | 3.85 Bn | 2.67 Bn |
| 5 | Edwards Lifesciences | 52.74 Bn | 48.49 Bn | 1.35 Bn | 846.40 Mn |
| 6 | Dexcom | 34.74 Bn | 32.79 Bn | 830.00 Mn | 511.70 Mn |
| 7 | GE HealthCare Technologies | 33.78 Bn | 31.67 Bn | 2.18 Bn | 1.44 Bn |
| 8 | Koninklijke Philips | 26.43 Bn | 23.11 Bn | 4.55 Bn | -741.59 Mn |
| 9 | Steris | 23.15 Bn | 22.67 Bn | 684.20 Mn | 398.30 Mn |
| 10 | Zimmer Biomet Holdings | 19.43 Bn | 19.02 Bn | 1.54 Bn | 1.85 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 |