Medtronic (MDT) Tax Rate (2014 - 2026)
Medtronic (MDT) reported Tax Rate of 16.34% for fiscal Q1 2027 (quarter ended Jul 31, 2026), down 3.25 percentage points from 19.59% a year earlier and down 15.02 percentage points from the prior quarter.
Medtronic (MDT) Tax Rate (2014 - 2026) Analysis & Trends
Over the twelve months ended Jul 31, 2026, Medtronic's Tax Rate came in at 20.18%, up 3.02 percentage points year-over-year; for FY2026 (ended Apr 24, 2026), it came in at 21.17%, up 4.54 percentage points from FY2025.
- Tax Rate has a five-year change of +14.37 percentage points (FY2021 to FY2026).
- By fiscal year, Tax Rate came in at 16.63% in FY2025 (-6.79 pp), 23.42% in FY2024 (-6.03 pp), 29.46% in FY2023 (+21.19 pp) and 8.27% in FY2022 (+1.46 pp).
- Five-year quarterly Tax Rate spans a low of 6.67% in fiscal Q3 2022 and a high of 68.75% in fiscal Q2 2023.
- Year over year, Tax Rate gained in four of the last eight quarters, with an average year-over-year change of -0.12 percentage points.
- The high point for year-over-year Tax Rate in five years was fiscal Q2 2023 (a gain of 56.96 percentage points); the low point was fiscal Q2 2024 (a drop of 38.13 percentage points).
- Per Business Quant data, the three fiscal quarters before Q1 2027 came in at 31.35% (Q4 2026), 18.09% (Q3 2026) and 13.46% (Q2 2026).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Tax Rate (Qtr) |
|---|---|---|---|---|---|
| 1 | Thermo Fisher Scientific | 250.84 Bn | 229.99 Bn | 4.88 Bn | 8.68% |
| 2 | Abbott Laboratories | 174.73 Bn | 145.82 Bn | 7.27 Bn | 39.11% |
| 3 | Danaher | 159.85 Bn | 143.67 Bn | 3.61 Bn | 19.29% |
| 4 | Intuitive Surgical | 146.79 Bn | 126.35 Bn | 1.96 Bn | 21.94% |
| 5 | Medtronic | 114.54 Bn | 80.41 Bn | 6.34 Bn | 16.34% |
| 6 | Stryker | 105.67 Bn | 91.79 Bn | 4.50 Bn | 18.41% |
| 7 | Boston Scientific | 63.93 Bn | 58.94 Bn | 3.85 Bn | 14.62% |
| 8 | Becton Dickinson | 50.12 Bn | 47.27 Bn | 2.32 Bn | 18.41% |
| 9 | Edwards Lifesciences | 50.06 Bn | 34.17 Bn | 1.35 Bn | 53.56% |
| 10 | Agilent Technologies | 49.40 Bn | 42.29 Bn | 1.04 Bn | 18.47% |
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% |
Medtronic Tax Rate 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=tax-rate&ticker=MDT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "tax-rate", "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=tax-rate&ticker=MDT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();