Medtronic Valuation Multiples

Medtronic Overview

About Medtronic

One of the largest medical-device companies, Medtronic develops and manufactures therapeutic medical devices for chronic diseases. Its portfolio includes pacemakers, defibrillators, transcatheter heart valves, stents, insulin pumps, spinal fixation devices, neurovascular products, advanced energy, ablation laser therapy, and surgical tools. The company primarily markets its products to healthcare institutions and physicians in the United States, Western Europe, and Japan. Foreign sales account for roughly 50% of the company's total sales.

Founded

1949

HQ

Employees

95.0K

Website

medtronic.com

Sectors

Medical DevicesDeepTechHealthTech

Financials (LTM)

Revenue: $36B

EBITDA: $10B

EV

$146B

Valuation Multiples

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Medtronic Financials

Medtronic reported last 12-month revenue of $36B and EBITDA of $10B.

In the same LTM period, Medtronic generated $24B in gross profit, $10B in EBITDA, and $7B in net income.

Medtronic P&L

In the most recent fiscal year, Medtronic reported revenue of $34B and EBITDA of $10B.

Medtronic expects next 12-month revenue of XXX and NTM EBITDA of XXX

Medtronic Stock Performance

Medtronic has current market cap of $126B, and enterprise value of $146B.

Medtronic's stock price is $98.10.

Medtronic Valuation Multiples

Medtronic trades at 4.1x EV/Revenue multiple, and 14.3x EV/EBITDA.

Medtronic Financial Valuation Multiples

As of March 31, 2026, Medtronic has market cap of $126B and EV of $146B.

Equity research analysts estimate Medtronic's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Medtronic has a P/E ratio of 17.4x.

Medtronic Margins & Growth Rates

Medtronic's revenue in the last 12 month grew by 7%.

Medtronic's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.2M for the same period.

Medtronic's rule of 40 is 36% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Medtronic's rule of X is 47% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Medtronic Public Comps

See public comps and valuation multiples for other Medical Devices comps.

Medtronic M&A Activity

Medtronic acquired XXX companies to date.

Last acquisition by Medtronic was on XXXXXXXX, XXXXX. Medtronic acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

Medtronic Investment Activity

Medtronic invested in XXX companies to date.

Medtronic made its latest investment on XXXXXXXX, XXXXX. Medtronic invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).