Medtronic plc (2M6.DE) Q4 2025 Earnings Report

Medtronic reported Q4 2025 revenue of $8.927 billion, representing a 12.8% YoY increase and a 7.7% QoQ acceleration in the trailing four-quarter period. Gross profit rose to $5.803 billion with a gross margin of 65.0%, supported by a favorable product mix and continued pricing discipline. Despite top-line strength, operating income declined QoQ to $1.436 billion, compressing the operating margin to 16.1% on a quarterly basis, as higher operating expenses and mix effects impacted near-term profitability. Net income came in at $1.057 billion with an EPS of $0.82, resulting in a net income margin of 11.8%. Free cash flow generation remained robust at approximately $2.07 billion, underpinning solid balance sheet health and an ongoing return of capital through dividends and modest share repurchases.