Medtronic (MDT) Research & Development (2014 - 2026)
Medtronic (MDT) posted Research & Development of $671.0 million for Q2 2026, down 7.06% sequentially from $722.0 million in Q1 2026, and down 1.9% YoY from $684.0 million in Q2 2025.
Medtronic (MDT) Research & Development (2014 - 2026) Analysis & Trends
Medtronic has reported Research & Development for 13 years, with the latest figure at $671.0 million in Q2 2026.
- Quarterly Research & Development fell 1.9% year-over-year to $671.0 million in Q2 2026, while the trailing twelve-month figure through Apr 2026 was $2.9 billion (up 5.16% YoY) and the FY2026 annual result came in at $2.9 billion, up 5.16% from the prior year.
- Research & Development retreated to $671.0 million in Q2 2026 per MDT's latest filing, from $722.0 million in the prior quarter.
- Over five years, Research & Development peaked at $754.0 million in Q4 2025 and troughed at $641.0 million in Q2 2023.
- A 5-year average of $686.6 million and a median of $680.0 million in 2022 frame the typical range for Research & Development.
- The widest YoY moves for Research & Development: up 11.15% in 2022, down 7.73% in 2022.
- Over 5 years, Research & Development stood at $676.0 million in 2022, then advanced by 3.25% to $698.0 million in 2023, then retreated by 0.14% to $697.0 million in 2024, then grew by 8.18% to $754.0 million in 2025, then declined by 11.01% to $671.0 million in 2026.
- According to Business Quant data, Research & Development over the past three periods registered $671.0 million, $722.0 million, and $754.0 million for Q2 2026, Q1 2026, and Q4 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Abbott Laboratories | 199.90 Bn | 194.30 Bn | 7.27 Bn | 892.00 Mn |
| 2 | Stryker | 130.01 Bn | 126.54 Bn | 4.50 Bn | 434.00 Mn |
| 3 | Medtronic | 120.53 Bn | 111.31 Bn | 6.41 Bn | 671.00 Mn |
| 4 | Boston Scientific | 74.77 Bn | 74.24 Bn | 3.85 Bn | 554.00 Mn |
| 5 | Edwards Lifesciences | 52.74 Bn | 48.49 Bn | 1.35 Bn | 278.90 Mn |
| 6 | Dexcom | 34.74 Bn | 32.79 Bn | 830.00 Mn | 153.00 Mn |
| 7 | GE HealthCare Technologies | 33.78 Bn | 31.67 Bn | 2.18 Bn | 323.00 Mn |
| 8 | Koninklijke Philips | 26.43 Bn | 23.11 Bn | 4.55 Bn | -562.58 Mn |
| 9 | Steris | 23.15 Bn | 22.67 Bn | 684.20 Mn | 28.60 Mn |
| 10 | Zimmer Biomet Holdings | 19.43 Bn | 19.02 Bn | 1.54 Bn | 104.80 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 |
| Jul 30, 2021 | 750.00 Mn |