← Research LibraryThe BriefFY2026 10-K · headline figures audited against SEC data
A diversified device maker is growing again, but the story is portfolio reshaping and cash discipline, not a clean margin breakout.
The read at a glance✓ Audited against SEC data
- Growth — +8.4% revenue to $36.36BOK
- Profitability — $6.47B operating income; $4.80B net incomeNote
- Cash quality — $5.43B free cash flow, above net incomeOK
- Balance sheet — Altman-Z 3.7606, safeOK
- Accounting quality — Beneish-M -2.5774, no flag; earnings quality 100OK
- Capital allocation — $3.64B dividends; $1.03B buybacks, buybacks -68.0%Note
Business
Medtronic is a global healthcare technology company built around device-based therapies and services in Cardiovascular, Neuroscience, and Medical Surgical. Diabetes is being separated into MiniMed, so the fiscal 2026 portfolio is already in transition. Scale remains substantial: FY2026 revenue $36.36B, operating income $6.47B, net income $4.80B, and free cash flow $5.43B.
Where the revenue comes from
Fiscal 2026, as Medtronic plc reports it. History and quarterly detail are in the app.
- Cardiac Rhythm & Heart Failure$7.5B
- Surgical & Endoscopy$6.8B
- Cranial & Spinal Technologies$5.2B
- Structural Heart & Aortic$3.8B
- Specialty Therapies$3.0B
Leadership changes
From Medtronic plc's own filings, the day they're filed.
- Brett Wall · President · departureeff. 2026-06-01
- Neuroscience Portfolio · President · departureeff. 2026-06-01
- Joon Lee · director · appointmenteff. 2025-06-18
Latest filings
- 10-Q · Quarterly report2026-09-03
- 8-K · Company announcement2026-09-01
- DEF 14A · Annual proxy (pay & governance)2026-08-17
- 10-K · Annual report2026-06-18
- 8-K · Company announcement2026-06-03
In the full recordFree for 14 days
- What changed🔒
- Insider signal🔒
- Growth quality🔒
- Margins & accounting🔒
- Capital allocation🔒
- Real risks🔒
- The long arc🔒
- Company history🔒
- The filings, readable — with what changed vs the prior year highlighted🔒
- Full financial statements, industry-aware, sources cited throughout🔒
- Forensic score history & components — the trend, not one year🔒
- Ownership: insider buys/sells, clusters, activist stakes🔒
- Ana — ask about Medtronic plc, every answer cited to the official filings🔒
Every figure comes from the company's filings, and analysis whose figures don't match SEC data is rejected before publication.
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