Medtronic (MDT) Research & Development (2014 - 2026)
Medtronic's Research & Development was $771 million in fiscal Q1 2027 (quarter ended Jul 31, 2026), up 6.2% from $726 million a year earlier and up 14.9% from the prior quarter.
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Analysis
Medtronic (MDT) Research & Development (2014 - 2026) Analysis & Trends
On a trailing twelve-month basis, Medtronic's Research & Development was $2.92 billion through Jul 31, 2026, up 4.9% year-over-year; for FY2026 (ended Apr 24, 2026), it was $2.87 billion, up 5.2% from FY2025.
- Research & Development shows a five-year compound annual growth rate of 2.9% (FY2021 to FY2026).
- In earlier fiscal years, Research & Development was $2.73 billion in FY2025 (-0.1%), $2.74 billion in FY2024 (+1.4%), $2.7 billion in FY2023 (-1.8%) and $2.75 billion in FY2022 (+10.1%).
- The fiscal Q1 2027 figure marks the highest quarterly Research & Development in data going back to fiscal Q1 2015.
- Compared with a year earlier, Research & Development was higher in five of the last eight quarters, with growth averaging 3.1%.
- The best year-over-year quarter for Research & Development over five years was fiscal Q3 2022 (growth of 11.1%); the worst was fiscal Q1 2023 (a decline of 7.7%).
- Per Business Quant data, MDT's Research & Development in the three fiscal quarters before Q1 2027 was $671 million (Q4 2026), $722 million (Q3 2026) and $754 million (Q2 2026).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Thermo Fisher Scientific | 250.84 Bn | 229.99 Bn | 4.88 Bn | 364.00 Mn |
| 2 | Abbott Laboratories | 174.73 Bn | 145.82 Bn | 7.27 Bn | 892.00 Mn |
| 3 | Danaher | 159.85 Bn | 143.67 Bn | 3.61 Bn | 412.00 Mn |
| 4 | Intuitive Surgical | 146.79 Bn | 126.35 Bn | 1.96 Bn | 370.60 Mn |
| 5 | Medtronic | 114.54 Bn | 80.41 Bn | 6.34 Bn | 771.00 Mn |
| 6 | Stryker | 105.67 Bn | 91.79 Bn | 4.50 Bn | 434.00 Mn |
| 7 | Boston Scientific | 63.93 Bn | 58.94 Bn | 3.85 Bn | 554.00 Mn |
| 8 | Becton Dickinson | 50.12 Bn | 47.27 Bn | 2.32 Bn | 258.00 Mn |
| 9 | Edwards Lifesciences | 50.06 Bn | 34.17 Bn | 1.35 Bn | 278.90 Mn |
| 10 | Agilent Technologies | 49.40 Bn | 42.29 Bn | 1.04 Bn | 123.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 771.00 Mn |
| Apr 24, 2026 | 671.00 Mn |
| Jan 23, 2026 | 722.00 Mn |
| Oct 24, 2025 | 754.00 Mn |
| Jul 25, 2025 | 726.00 Mn |
| Apr 25, 2025 | 684.00 Mn |
| Jan 24, 2025 | 675.00 Mn |
| Oct 25, 2024 | 697.00 Mn |
| Jul 26, 2024 | 676.00 Mn |
| Apr 26, 2024 | 675.00 Mn |
| Jan 26, 2024 | 695.00 Mn |
| Oct 27, 2023 | 698.00 Mn |
| Jul 28, 2023 | 668.00 Mn |
| Apr 28, 2023 | 641.00 Mn |
| Jan 27, 2023 | 688.00 Mn |
| Oct 28, 2022 | 676.00 Mn |
| Jul 29, 2022 | 692.00 Mn |
| Apr 29, 2022 | 652.00 Mn |
| Jan 28, 2022 | 668.00 Mn |
| Oct 29, 2021 | 676.00 Mn |
API Access
Medtronic Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=MDT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "MDT", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=MDT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();