Medtronic (MDT) Operating Expenses (2013 - 2026)

Medtronic has disclosed Operating Expenses across 14 years of filings, most recently posting $3.8 billion for Q1 2026.

• Operating Expenses for Q1 2026 came in at $3.8 billion, up 9.32% year-over-year; the trailing twelve-month figure through Jan 2026 was $14.6 billion (up 4.01% YoY), and the FY2025 annual result was $13.8 billion, up 1.1% from the prior year.
• Operating Expenses came in at $3.8 billion for Q1 2026 at Medtronic, up from $3.7 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 Q3 2022.
• The 5-year median for Operating Expenses is $3.4 billion (2023), against an average of $3.5 billion.
• Across the five-year window, Operating Expenses declined 5.05% in 2025 and rose 9.32% in 2026, its largest moves.
• Medtronic's Operating Expenses stood at $3.3 billion in 2022, then grew by 3.04% to $3.4 billion in 2023, then increased by 1.75% to $3.5 billion in 2024, then rose by 7.12% to $3.7 billion in 2025, then grew by 0.62% to $3.8 billion in 2026.
• The last three Operating Expenses figures came in at $3.8 billion (Q1 2026), $3.7 billion (Q4 2025), and $3.6 billion (Q3 2025), per Business Quant data.