Medtronic (MDT) Tax Rate (2014 - 2026)

Medtronic (MDT) posted Tax Rate of 31.35% for Q2 2026, up 73.3% sequentially from 18.09% in Q1 2026, and up 1557.0% YoY from 1.89% in Q2 2025.

Medtronic (MDT) Tax Rate (2014 - 2026) Analysis & Trends

Medtronic has reported Tax Rate for 13 years, with the latest figure at 31.35% in Q2 2026.

Quarterly Tax Rate rose 1557.0% year-over-year to 31.35% in Q2 2026, while the trailing twelve-month figure through Apr 2026 was 21.17% (up 452.0% YoY) and the FY2026 annual result came in at 21.17%, up 454.0% from the prior year.
Tax Rate climbed to 31.35% in Q2 2026 per MDT's latest filing, from 18.09% in the prior quarter.
Over five years, Tax Rate peaked at 68.75% in Q4 2022 and troughed at 6.67% in Q1 2022.
A 5-year average of 20.68% and a median of 17.69% in 2024 frame the typical range for Tax Rate.
The sharpest annual moves came in 2022 and 2023: Tax Rate surged 5696 bps in 2022, then plunged 3813 bps in 2023.
Over 5 years, Tax Rate stood at 68.75% in 2022, then plunged by 55 bps to 30.62% in 2023, then sank by 41 bps to 18.02% in 2024, then declined by 25 bps to 13.46% in 2025, then surged by 133 bps to 31.35% in 2026.
According to Business Quant data, Tax Rate over the past three periods registered 31.35%, 18.09%, and 13.46% for Q2 2026, Q1 2026, and Q4 2025 respectively.

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	Tax Rate (Qtr)
1	Abbott Laboratories	199.70 Bn	194.09 Bn	7.27 Bn	39.11%
2	Stryker	129.93 Bn	126.46 Bn	4.50 Bn	18.41%
3	Medtronic	120.49 Bn	111.27 Bn	6.41 Bn	31.35%
4	Boston Scientific	74.60 Bn	74.06 Bn	3.85 Bn	14.62%
5	Edwards Lifesciences	52.68 Bn	48.42 Bn	1.35 Bn	53.56%
6	Dexcom	34.78 Bn	32.84 Bn	830.00 Mn	21.54%
7	GE HealthCare Technologies	33.83 Bn	31.72 Bn	2.18 Bn	17.17%
8	Koninklijke Philips	26.44 Bn	23.12 Bn	4.55 Bn	-21.74%
9	Steris	23.18 Bn	22.69 Bn	684.20 Mn	26.51%
10	Zimmer Biomet Holdings	19.40 Bn	18.99 Bn	1.54 Bn	21.76%

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