Medtronic plc (MDT) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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MDT Revenue Growth
Revenue Breakdown (FY 2025)
MDT's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
MDT Revenue Analysis (2014–2025)
As of May 8, 2026, Medtronic plc (MDT) generated trailing twelve-month (TTM) revenue of $35.48 billion, reflecting solid growth of +8.8% year-over-year. The most recent quarter (Q3 2026) recorded $9.02 billion in revenue, up 0.6% sequentially.
Looking at the longer-term picture, MDT's 5-year compound annual growth rate (CAGR) stands at +3.0%, indicating moderate growth over time. The company achieved its highest annual revenue of $33.54 billion in 2025, representing a new all-time high.
Revenue diversification analysis shows MDT's business is primarily driven by Cardiac and Vascular Group (37%), Neuroscience Group (29%), and Medical Surgical (25%).
When compared to Healthcare sector peers including ABT (+6.4% YoY), BSX (+19.9% YoY), and EW (+11.2% YoY), MDT has underperformed the peer group in terms of revenue growth. Compare MDT vs ABT →
MDT Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| MDTCurrent | $35.5B | +8.8% | +3.0% | 17.8% | |
 ABT | $42.0B | +6.4% | +5.6% | 16.3% | |
 BSX | $20.1B | +19.9% | +15.2% | 19.8% | |
 EW | $6.1B | +11.2% | +6.7% | 27.0% | |
 SYK | $25.1B | +11.2% | +11.8% | 19.5% | |
 ZBH | $8.2B | +9.2% | +6.1% | 16.5% |
MDT Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $33.54B | +3.6% | $21.91B | 65.3% | $5.96B | 17.8% |
| 2024 | $32.36B | +3.6% | $21.15B | 65.3% | $5.14B | 15.9% |
| 2023 | $31.23B | -1.4% | $20.51B | 65.7% | $5.49B | 17.6% |
| 2022 | $31.69B | +5.2% | $21.54B | 68.0% | $5.75B | 18.2% |
| 2021 | $30.12B | +4.2% | $19.63B | 65.2% | $4.48B | 14.9% |
| 2020 | $28.91B | -5.4% | $19.49B | 67.4% | $4.79B | 16.6% |
| 2019 | $30.56B | +2.0% | $21.40B | 70.0% | $6.27B | 20.5% |
| 2018 | $29.95B | +0.8% | $20.89B | 69.7% | $6.64B | 22.2% |
| 2017 | $29.71B | +3.0% | $20.42B | 68.7% | $5.38B | 18.1% |
| 2016 | $28.83B | +42.3% | $19.69B | 68.3% | $5.36B | 18.6% |
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Start ComparisonMDT — Frequently Asked Questions
Quick answers to the most common questions about buying MDT stock.
Is MDT's revenue growth accelerating or slowing?
MDT maintains +8.8% revenue growth, in line with its 5-year CAGR of +3.0%. TTM revenue stands at $35.5B. Growth rate remains consistent with historical average.
What is MDT's long-term revenue growth rate?
Medtronic plc's 5-year revenue CAGR of +3.0% reflects the sustained expansion pattern. Current YoY growth of +8.8% is near this long-term average.
How is MDT's revenue distributed by segment?
MDT reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.