Medtronic has reported total revenue of $36.4bn in fiscal year 2026 (FY26), a figure the company said reflects the highest annual growth achieved in 10 years.
With FY26 revenue indicative of a year-over-year (YoY) rise of 8.4%, Med-ABtronic expects FY27 growth to fall in 6.75% to 7.25% range on an organic basis, with earnings mooted to fall in the $5.90 to $6.00 per share range.
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The medtech giant’s cardiovascular portfolio, which includes the PulseSelect pulsed-field ablation (PFA) system, was its strongest performing business segment in FY26, with revenue around $13.98bn, denoting a 12% uptick YoY.
Meanwhile, Medtronic’s Neuroscience and MedSurg business lines came in at around $10.3bn and $8.8bn, corresponding to YoY uplifts of 4.5% and 4.9%, respectively.
Alongside its FY26 financials, Medtronic also reported its Q4 FY26 results, achieving total revenue of $9.81bn. The figure beat analysts’ estimates of $9.63bn, according to data compiled by the London Stock Exchange Group (LSEG) and seen by Reuters. The total also bested Medtronic’s Q3 FY26 performance by around $800m.
In Q4, Medtronic’s cardiovascular business grew 13.8% YoY to around $3.8bn, while Neuroscience and MedSurg saw YoY growth of 5% and 8% to around $2.75bn and $2.39bn, respectively.
Medtronic’s financial results sent its share price on the New York Stock Exchange (NYSE) up by more than 5% to $77.89 at market open on 3 June, versus a prior close of $73.75. Medtronic has a market cap of $94.69bn.
Geoff Martha, Medtronic chairman and CEO, said: “Our performance reflects the strongest annual top-line growth Medtronic has delivered in 10 years, powered by disciplined execution across our portfolio and continued operational rigour.
“These results represent the compounding impact of deliberate choices we’ve made to strengthen our strategy, sharpen execution, and invest in the areas that will drive our future. We saw continued strength in some of our largest businesses like CRM, CST and Surgical, and we are building momentum in our highest growth opportunities, such as Affera, Symplicity, Hugo, Altaviva and Stealth AXiS. Together with the investments we’re making in our pipeline, Medtronic is well-positioned to deliver sustained growth and long-term value.”
