Medtronic (MDT): analysis in plain words
Is Medtronic cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Medtronic (MDT) is listed on the NYSE and we classify it in healthcare and pharma. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Medtronic according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Medtronic (MDT) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $104.96 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 25.8x | Price over earnings per share |
| Revenue growth | +13.7% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 13.9% | Profit for every 100 of sales |
| Net debt / EBITDA | 1.9x | Years of operating profit to repay debt |
| Dividend yield | 2.91% | Annual dividend over price |
| Market cap | $134.3 billion | What the stock market values it at |
The Medtronic figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any MDT figure that is not available shows as N/A: we do not estimate it.
How Medtronic makes money
Medtronic sells medical devices to hospitals around the world. Cardiovascular, its largest segment, includes pacemakers, defibrillators and heart valves. Neuroscience covers spine, neuromodulation and specialty therapies, Medical Surgical offers surgical tools and the Hugo robot, and Diabetes sells MiniMed insulin pumps and glucose monitoring systems.
Over the last 12 months, Medtronic brought in revenue of $37.5 billion. For every 100 it sells, Medtronic keeps 65.3 after the direct cost of what it sells (gross margin) and 19.3 after all operating costs (operating margin). With 95,000 full-time employees, that is about $395,000 of revenue per employee.
Medtronic against its sector
To know whether a Medtronic figure is high or low you have to put it next to similar companies. This table compares Medtronic with the median of the 30 healthcare and pharma companies Fintols covers, with data as of November 4, 2026.
| Figure | Medtronic | healthcare and pharma median |
|---|---|---|
| P/E | 25.8x | 31.3x (30) |
| Revenue growth | +13.7% | +8.3% (33) |
| Net margin | 13.9% | 14.9% (33) |
| Dividend yield | 2.91% | 1.52% (33) |
| Net debt / EBITDA | 1.9x | 1.6x (31) |
In short, against the typical healthcare and pharma company, Medtronic trades on a lower P/E, grows faster and pays a higher dividend yield. By size, Medtronic ranks number 15 of 28 healthcare and pharma companies quoted in USD on Fintols.
The bull case for Medtronic
These are the strengths in the Medtronic figures as of November 4, 2026:
- Analysts expect Medtronic earnings to rise: its P/E on the next 12 months of estimated earnings is 16.4x, below the current 25.8x.
- Medtronic is selling more than a year ago: +13.7% in its latest quarter (the typical healthcare and pharma company grew +8.3%).
- For income seekers, Medtronic pays a dividend yielding 2.91% at today's price, using 70% of its profit to fund it.
The main risk for Medtronic
The Medtronic figures as of November 4, 2026 show no clear red flag (no heavy debt, no losses, no falling sales). Its main risk is the one built into its business: a key drug losing patent protection or a clinical trial failing, plus government pressure on prices.
Frequently asked questions about Medtronic
Is it a good time to buy Medtronic stock?
Fintols does not tell you whether to buy or sell Medtronic, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Medtronic stock trades at $104.96, 1% below its 52-week high ($106.33) and 43% above its low ($73.31). Its P/E is 25.8x against a healthcare and pharma median of 31.3x, and 16.4x on the earnings analysts expect over the next 12 months. With Medtronic, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Medtronic pay a dividend?
Yes. As of November 4, 2026, Medtronic pays $2.88 per share a year, which at today's price is a yield of 2.91%. It uses 70% of its profit to pay it. Its average dividend yield over the last five years is 3.05%. The healthcare and pharma median on Fintols is 1.52%.
Is Medtronic stock expensive?
It depends on what you compare it with. On P/E, Medtronic trades at 25.8x its last 12 months of earnings: cheaper than the healthcare and pharma median (31.3x). Including its debt, Medtronic is valued at 14.1x its EBITDA (EV/EBITDA). A high P/E alone does not make Medtronic expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Medtronic's competitors?
On Fintols we compare Medtronic with Intuitive Surgical, Johnson & Johnson and Merck, which are also in healthcare and pharma. As of November 4, 2026, Intuitive Surgical is worth $170.3 billion and trades on a P/E of 58.3; Johnson & Johnson is worth $665.2 billion and trades on a P/E of 41.9; Merck is worth $371.0 billion and trades on a P/E of 151.9. Each has a side-by-side comparison with Medtronic below.
Medtronic competitors
- Intuitive Surgical (ISRG) analysis · Medtronic vs Intuitive Surgical comparison
- Johnson & Johnson (JNJ) analysis · Medtronic vs Johnson & Johnson comparison
- Merck (MRK) analysis · Medtronic vs Merck comparison
To understand Medtronic better
- DCF and WACC Explained: A Practical Valuation Guide
- P/E Ratio and EPS Explained: How to Read Them Without Traps
More companies like Medtronic: healthcare and pharma stocks, S&P 500 companies and S&P 100 companies. Open the full MDT analysis with its valuation and scenarios. Educational content about Medtronic, not investment advice.