# Medtronic plc (MDT) — Stock CV

Medtronic plc is a $113B healthcare company. Revenue grew 9.8% over the last year, and it keeps 14¢ of every dollar of sales as profit. It trades at 21.6× earnings — near the lowest of its own history.

> One of the largest medical-device companies, Medtronic develops and manufactures therapeutic medical devices for chronic diseases.

## Identity

- **Ticker**: MDT
- **Sector**: Healthcare
- **Industry**: Medical Devices
- **Headquarters**: GALWAY
- **Employees**: 95 000
- **Website**: https://www.medtronic.com
- **Market cap**: $113B
- **Last price**: $88.01
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $37.5B
- **Net income**: $5.23B
- **Free cash flow**: $6.13B
- **P/E**: 21.6
- **Revenue growth (YoY)**: 9.8%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 77 |
| Growth | 43 |
| Profitability | 52 |
| Health | 50 |
| Quality | 97 |
| Moat | 75 |

## Qualifications (beginner checklist) — 10 of 11 passed

- [x] Revenue growing — +9.8% YoY
- [x] Profitable — $5.23B TTM
- [x] Profit growing — +9.7% YoY
- [x] Generates cash — $6.13B TTM
- [x] Debt under control — current ratio 2.07
- [x] Established company — $113B market cap
- [x] Not printing shares — -4.9% shares over ~5y
- [x] Proven track record — 11/11 profitable years
- [ ] Financially stable — health score 50/100
- [x] Pays a dividend — yield 3.22%
- [x] Valuation not extreme — P/E 21.6

## Experience (career milestones)

- **2026** — Medtronic separated its diabetes business into MiniMed Group, Inc
- **2026** — Medtronic launched an exchange offer as part of its planned separation of MiniMed
- **FY2022** — Best year on record: $5.04B net income
- **2018** — The company acquired Mazor Robotics for $1.64 billion ($58.50 per American Depository Share or…
- **FY2016** — Profitable every year on record: 11 consecutive profitable years in our data
- **FY2016** — Revenue already above $10B: $28.8B in first reported year
- **FY2016** — Positive free cash flow every year since: 11-year streak
- **2015** — Medtronic rebased to Ireland following its acquisition of Irish-based Covidien in 2015
- **2007** — Medtronic purchased Kyphon, a manufacturer and seller of spinal implants that are necessary for procedures…
- **2001** — Medtronic purchased Minimed, to form Medtronic Minimed
- **1986** — An independently-operating Dutch pacemaker manufacturer, Vitatron, acquired by Medtronic in 1986, is now a European…
- **1957** — Its work in heart rhythm therapies dates back to 1957 when Bakken developed the first wearable heart pacemaker to…
- **1957** — The deficiencies of artificial pacemakers at the time became evident during a power outage over Halloween in 1957
- **1949** — Medtronic was founded in 1949 in Minneapolis by Earl Bakken and his brother-in-law, Palmer Hermundslie

## Strengths

- High gross margin (65.7%)
- Strong cash conversion — FCF is 16.3% of revenue
- Interest covered 11.0× by operating earnings
- Piotroski F-Score 7/9 — fundamentally strong checklist

## Watch-outs

- None stand out in the data.

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2022 | $31.7B | $5.04B | $5.98B |
| FY2023 | $31.2B | $3.76B | $4.58B |
| FY2024 | $32.4B | $3.68B | $5.20B |
| FY2025 | $33.5B | $4.66B | $5.18B |
| FY2026 | $36.4B | $4.80B | $5.43B |

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Source: https://stockcv.com/MDT — derived from company filings; may be delayed or incomplete. Information, not investment advice.