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| 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 |