Medtronic reports fourth quarter and full year fiscal 2026 results; delivers highest annual revenue growth in 10 years

Key Points:

• Medtronic reported strong Q4 FY26 results with revenue of $9.8 billion, up 9.9% as reported and 6.6% organically, and non-GAAP diluted EPS of $1.55, exceeding guidance; key growth was driven by Cardiac Ablation Solutions (+78% globally) and Cardiovascular (+10.1%).
• For FY26, Medtronic achieved revenue of $36.4 billion, up 8.4% as reported and 5.8% organically, with GAAP diluted EPS increasing 3.3% to $3.73 and non-GAAP diluted EPS rising 0.7% to $5.53; operating margins remained flat on a GAAP basis.
• The company increased its quarterly dividend to $0.72 per share for Q1 FY27, marking the 49th consecutive year of dividend increases, and returned $4.2 billion to shareholders in FY26.
• Medtronic provided FY27 guidance expecting organic revenue growth of 6.75% to 7.25% and non-GAAP diluted EPS growth of 6.7% to 8.5%, supported by a robust pipeline, ongoing M&A activities, and operational discipline.
• Strategic portfolio expansions included acquisitions of CathWorks, plans to acquire Scientia Vascular and SPR Therapeutics, and investments in Pulnovo Medical, enhancing Medtronic’s presence in high-growth areas such as Neurovascular, Neuromodulation, and Cardiovascular technologies.