Aureus
AExcellent

Medtronic plc.(MDT)

A

Financial data as of Apr 30, 2026Improving · Healthcare

FCF Margin13.7%Free Cash Flow / Revenue
Cash Conversion152.7%Operating CF / Net Income
Free Cash Flow$5.4B
Revenue$36.4B
Net Cash-$26.0BNet debt position
Debt / FCF5.6xElevated debt burden
Current Ratio2.13Adequate short-term liquidity
YoY FCF Growth+133.9%5 of 5 quarters positive

How This Grade Was Calculated

Base grade from FCF margin, adjusted by financial health factors

BaseB
→
-0.5Elevated debt-to-FCF ratio (5.6x)
→
+0.5Healthy FCF margin with manageable debt (13.7%, 5.6x)
→
+1Strong YoY FCF growth (133.9% YoY)
→
FinalA

Analysis Summary

Strengths

  • Healthy FCF margin (13.7%)
  • Excellent cash conversion (153%)
  • Strong liquidity (current ratio: 2.13)
  • Strong YoY FCF growth (+133.9%)

Concerns

  • Heavy debt position ($26.0B net debt, 5.6x FCF)
  • High debt-to-FCF ratio (5.6x)

Financial Breakdown

Key financials compared side by side

Margin Composition

FCF Margin13.7%
Net Margin13.2%
Operating CF Margin20.2%
CapEx Ratio5.2%

Balance Sheet Health

Debt, liquidity, and leverage snapshot

Net Cash-$26.0BNet debt position
Debt / FCF5.6xElevated debt burden
Current Ratio2.13Strong liquidity
Debt / Equity0.57Low leverage

Quarterly FCF Trend

+133.9% YoYImproving (+133.9%)

Free cash flow per quarter

Sector Comparison — Healthcare

FCF Margin ranked against sector peers

View all →

Detailed Metrics

Company NameMedtronic plc.
SectorHealthcare
Free Cash Flow$5.4B
Revenue$36.4B
Net Income$4.8B
Operating Cash Flow$7.3B
Capital Expenditure$1.9B
FCF Margin13.7%
Cash Conversion Rate152.7%
Net Margin13.2%
Total Debt$28.0B
Total Cash$1.9B
Net Cash-$26.0B
Current Ratio2.13
Debt / Equity0.57
Debt / FCF5.6x
YoY FCF Growth+133.9%
Positive Quarters5 of 5
Trend DirectionImproving
Report DateApr 30, 2026
GradeA
Data SourceYahoo Finance