MDT Medtronic margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 72

Gross margin

65%

Operating margin

18.1%

EBITDA margin

27.2%

Net margin

13.9%

Based on the latest figures, Medtronic reports a gross margin of 65%, an operating margin of 18.1%, an EBITDA margin of 27.2%, and a net margin of 13.9%. Net margin headed the available margin improvements with a 0.3 percentage-point increase, while gross margin dropped by 0.3 percentage points.

MDT margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Medtronic recorded average margins of 65.23% gross, 17.19% operating, 26.62% EBITDA, and 13.03% net. Medtronic's current performance shows that operating, EBITDA, and net margins are above their three-year averages and gross margin is below its three-year average.

MDT margin expansion

Year-over-year margin changes in percentage points

Operating margin expanded by 0.2 percentage points and net margin by 0.3 percentage points, whereas gross margin contracted by 0.3 percentage points.

Gross margin expansion

-0.3pp

Operating margin expansion

0.2pp

EBITDA margin expansion

0pp

Net margin expansion

0.3pp

MDT Gross margin

Over the last 3 years, Medtronic's gross margin averaged 65.23%. At present, Medtronic's current gross margin is 65%, which is 0.2 percentage points below its three-year average. During this period, gross margin reached a high of 65.5% in Oct 2025 and a low of 64.9% in Jan 2026.

MDT Operating margin

Over the last 3 years, the average operating margin for Medtronic was 17.19%. The latest operating margin for Medtronic is 18.1%, 0.9 percentage points above its three-year average. Medtronic's operating margin ranged from a low of 15.8% in Jul 2024 to a high of 18.1% in Jul 2026.

MDT EBITDA margin

Reviewing the last 3 years, Medtronic recorded an average EBITDA margin of 26.62%. Medtronic's current EBITDA margin is 27.2% and is 0.6 percentage points above its three-year average. The highest EBITDA margin for Medtronic was 27.5% in Jan 2024, while the lowest was 25.3% in Apr 2024.

MDT Net margin

Across the last 3 years, Medtronic's net margin came to 13.03%. The current net margin stands at 13.9%, 0.9 percentage points above its three-year average. Net margin was highest at 13.9% in Jul 2026 and lowest at 11.4% in Apr 2024.

MDT margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 65%, MDT is above the industry and its peers average but below the Healthcare sector average. Compared to its Healthcare sector average of 68.5%, Medtronic's gross margin is 5% lower.

MDT margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Medtronic's gross margin?

The current gross margin for MDT is 65% as of Jul 31, 2026.

What is Medtronic's operating margin?

For the period ending Jul 31, 2026, MDT recorded an operating margin of 18.1%.

What is Medtronic's EBITDA margin?

As of Jul 31, 2026, MDT has an EBITDA margin of 27.2%.

What is Medtronic's net margin?

For the period ending Jul 31, 2026, MDT recorded a net margin of 13.9%.

What are the average margins of MDT?

Medtronic's average margins over the last 3 years were 65.2% gross, 17.2% operating, 26.6% EBITDA, and 13.0% net.

What are the highest historical margins of MDT?

Across the 5-year period, MDT posted its highest margins at 68% gross in Apr 2022, 19.4% operating in Jul 2022, 28.9% EBITDA in Jul 2022, and 16.8% net in Jul 2022.

What are the lowest historical margins of MDT?

Looking back across 5 years, MDT reached its lowest margins at 64.9% gross in Jan 2026, 15.8% operating in Jul 2024, 25.3% EBITDA in Apr 2024, and 11.4% net in Apr 2024.