Medtronic plc (MDT) Q4 2026 Earnings Report

Medtronic reported Q4 FY2026 revenue of $9.807 billion, up 18.3% year-over-year and 8.8% sequentially. Gross profit was $7.441 billion (gross margin 75.9%), a marked improvement versus the prior year. Operating income was $1.564 billion (operating margin 15.9%), and net income was $1.243 billion (net margin 12.7%). GAAP diluted EPS was $0.96. The quarter shows clear top-line momentum but narrower operating leverage relative to very high-margin peers; items captured in the 'other expenses' line ($2.15 billion) and elevated SG&A/operating expense levels warrant monitoring. Balance sheet and cash-flow detail were limited in the summary data provided; investors should review the full 10-Q/MD&A for cash generation, net debt and capital allocation detail. Overall, results support the company’s secular exposure to procedural recovery and recurring-revenue streams, while short-term margin variability and expense items are the key watch points.