Medtronic (MDT) Tax Rate (2014 - 2026)
Medtronic's (MDT) quarterly Tax Rate came in at 16.34% in Q3 2026, down 325.0% year-over-year from 7.26% in Q3 2025, and down 47.89% quarter-over-quarter from 31.35% in Q2 2026.
Powered by 
Analysis
Medtronic (MDT) Tax Rate (2014 - 2026) Analysis & Trends
Medtronic has disclosed Tax Rate across 13 years of filings, most recently posting 16.34% for Q3 2026.
- In Q3 2026, Tax Rate fell 325.0% year-over-year to 16.34%; the TTM figure through Jul 2026 stood at 20.18% (up 302.0% YoY), while the FY2026 annual figure was 21.17%, up 454.0% from the prior year.
- Tax Rate came in at 16.34% for Q3 2026 at Medtronic, down from 31.35% in the prior quarter.
- In the past five years, Tax Rate ranged from a high of 68.75% in Q4 2022 to a low of 6.67% in Q1 2022.
- Average Tax Rate over 5 years is 20.45%, with a median of 17.35% recorded in 2024.
- Year-over-year, Tax Rate jumped 5696 bps in 2022 and tumbled 3813 bps in 2023.
- Over 5 years, Tax Rate stood at 68.75% in 2022, then slumped by 55 bps to 30.62% in 2023, then tumbled by 41 bps to 18.02% in 2024, then slipped by 25 bps to 13.46% in 2025, then gained by 21 bps to 16.34% in 2026.
- Per Business Quant data, the three most recent Tax Rate figures were 16.34% in Q3 2026, 31.35% in Q2 2026, and 18.09% in Q1 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Tax Rate (Qtr) |
|---|---|---|---|---|---|
| 1 | Abbott Laboratories | 184.10 Bn | 178.50 Bn | 7.27 Bn | 39.11% |
| 2 | Intuitive Surgical | 124.21 Bn | 118.99 Bn | 1.96 Bn | 21.94% |
| 3 | Medtronic | 118.33 Bn | 109.51 Bn | 6.34 Bn | 16.34% |
| 4 | Stryker | 104.21 Bn | 100.73 Bn | 4.50 Bn | 18.41% |
| 5 | Boston Scientific | 66.39 Bn | 65.86 Bn | 3.85 Bn | 14.62% |
| 6 | Edwards Lifesciences | 49.69 Bn | 45.43 Bn | 1.35 Bn | 53.56% |
| 7 | Alcon | 33.94 Bn | 32.48 Bn | 1.68 Bn | -100.00% |
| 8 | Dexcom | 32.18 Bn | 30.23 Bn | 830.00 Mn | 21.54% |
| 9 | Steris | 21.15 Bn | 20.67 Bn | 684.20 Mn | 26.51% |
| 10 | Zimmer Biomet Holdings | 18.14 Bn | 17.73 Bn | 1.54 Bn | 21.76% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 16.34% |
| Apr 24, 2026 | 31.35% |
| Jan 23, 2026 | 18.09% |
| Oct 24, 2025 | 13.46% |
| Jul 25, 2025 | 19.59% |
| Apr 25, 2025 | 15.78% |
| Jan 24, 2025 | 15.39% |
| Oct 25, 2024 | 18.02% |
| Jul 26, 2024 | 17.35% |
| Apr 26, 2024 | 23.04% |
| Jan 26, 2024 | 9.17% |
| Oct 27, 2023 | 30.62% |
| Jul 28, 2023 | 33.44% |
| Apr 28, 2023 | 23.34% |
| Jan 27, 2023 | 10.62% |
| Oct 28, 2022 | 68.75% |
| Jul 29, 2022 | 10.73% |
| Apr 29, 2022 | 6.87% |
| Jan 28, 2022 | 6.67% |
| Oct 29, 2021 | 11.79% |