Company / Operating Margin
Medtronic Operating Margin History
FY2017-FY2026 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Operating Margin
15.9%
FY2026
5-year range
14.9% / 17.8%
FY2022-FY2026
Trend
-9.5%
vs FY2025
Sector context
#31 of 148
Health Care
What the data says
Medtronic's operating margin of 15.9% is higher than 79% of companies in the Health Care sector (FY2026). Operating Margin has fluctuated over the past 10 years, ranging from 14.9% in FY2023 to 22.2% in FY2017.
Based on SEC 10-K filings.
15.9% in FY2026 with a 5-year CAGR of -4.6%. Top quartile in the Health Care sector.
Declined from 17.8% to 15.9% over the past 2 years.
Health Care sector context is included.
Operating Margin over time
Growth rates
- 3-Year Change
- +1.0pp
- 5-Year Change
- -4.6pp
- 10-Year Change
- -
Sector benchmark
Top 21% in Health CareTop 21% of 148This company 15.9% Sector average -284.8%
▼
+105.6% above sector average
Key checks
Key Insights
- In FY2026, operating margin decreased 9.5% year-over-year.
- Currently 300.7pp above the Health Care sector average.
- Peak operating margin was recorded in FY2017.
- Lowest operating margin in the period was in FY2023.
Annual data
| Year | Operating MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2026 | 15.9% | -9.5% |
| FY2025 | 17.6% | -1.1% |
| FY2024 | 17.8% | +19.3% |
| FY2023 | 14.9% | -10.1% |
| FY2022 | 16.6% | -19.2% |
| FY2021 | 20.5% | +37.7% |
| FY2020 | 14.9% | -10.1% |
| FY2019 | 16.6% | -19.2% |
| FY2018 | 20.5% | -7.5% |
| FY2017 | 22.2% | +22.4% |
As of FY2026 · SEC 10-K · Updated Jun 30, 2026