Medtronic is the largest medical technology company, offering an unprecedented breadth and depth of innovative therapies to fulfill its mission of alleviating pain, restoring health, and extending life. Medtronic has six main business units, which develop and manufacture devices and therapies to treat more than 30 chronic diseases, including heart failure, Parkinson's disease, urinary incontinence, Down's syndrome, obesity, chronic pain, spinal disorders and diabetes.
Cardiac rhythm disease management is the oldest and largest of Medtronic's business units; spinal and biologics is Medtronic's second-largest business. Medtronic's cardiovascular therapies span the major specialities of interventional cardiology, cardiac surgery and vascular surgery. The products are used to reduce the potentially debilitating effects of coronary, aortic and structural heart disease. Neuromodulation is the second-oldest and third-largest department of Medtronic. Its products include neurostimulation systems and implantable drug delivery systems for chronic pain, common movement disorders and urologic and gastrointestinal disorders. The surgical technologies business group designed and manufactured products for the diagnosis and treatment of ear, nose and throat (ENT) diseases and cranial, spinal and neurologic conditions. It also encompassed a surgical navigation division to design "StealthStation" systems, software and instruments for Computer Assisted Surgery (CAS) and a special intraoperative X-ray imaging system, known as the O-arm Imaging System.
Company Growth (employees)
Key People at Medtronic
Omar Ishrak
Richard E. Kuntz
Carol Surface
Medtronic Office Locations
Medtronic Data and Metrics
Medtronic Financial Metrics
Revenue (FY, 2017) | 29.7 b |
Revenue growth (FY, 2016 - FY, 2017), % | 3% |
Gross profit (FY, 2017) | 20.4 b |
Gross profit margin (FY, 2017), % | 69% |
Net income (FY, 2017) | 4 b |
EBIT (FY, 2017) | 5.3 b |
Market capitalization (19-Jul-2017) | 116.4 b |
Closing share price (19-Jul-2017) | 85.9 |
Cash (28-Apr-2017) | 5 b |
EV | 137.4 b |
| USD | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
|---|---|---|---|---|
Revenue | 17 b | 20.3 b | 28.8 b | 29.7 b |
Revenue growth, % | 19% | 42% | 3% | |
Cost of goods sold | 4.3 b | 6.3 b | 9.1 b | 9.3 b |
Gross profit | 12.7 b | 14 b | 19.7 b | 20.4 b |
Gross profit Margin, % | 75% | 69% | 68% | 69% |
Operating expense total | 13.3 b | |||
EBIT | 3.8 b | 5.3 b | 5.3 b | |
EBIT margin, % | 19% | 18% | 18% | |
Interest expense | 108 m | 666 m | 1.4 b | 1.1 b |
Interest income | (386 m) | (431 m) | (366 m) | |
Pre tax profit | 4.6 b | |||
Income tax expense | 640 m | 811 m | 798 m | 578 m |
Net Income | 3.1 b | 2.7 b | 3.5 b | 4 b |
| USD | Y, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
|---|---|---|---|---|
Cash | 13.2 m | 4.8 b | 186.4 m | 5 b |
Accounts Receivable | 17.1 m | |||
Inventories | 1.7 b | 3.5 b | 3.5 b | 3.3 b |
Current Assets | 21.2 b | 30.8 b | 23.6 b | 24.9 b |
PP&E | 2.4 b | 4.7 b | 4.8 b | 4.4 b |
Goodwill | 10.6 b | 40.5 b | 41.5 b | 38.5 b |
Total Assets | 37.9 b | 106.7 b | 99.8 b | 99.8 b |
Accounts Payable | 742 m | 1.6 b | 1.7 b | 1.7 b |
Total Debt | 11.9 b | 36.2 b | 31.2 b | 25.9 b |
Current Liabilities | 5.6 b | 9.2 b | 7.2 b | 14.2 b |
Total Liabilities | 49.4 b | |||
Additional Paid-in Capital | 29.6 b | |||
Retained Earnings | 19.9 b | 54.4 b | 53.9 b | 23.4 b |
Total Equity | 19.4 b | 53.2 b | 52.1 b | 50.4 b |
Debt to Equity Ratio | 0.6 x | 0.7 x | 0.6 x | 0.5 x |
Debt to Assets Ratio | 0.3 x | 0.3 x | 0.3 x | 0.3 x |
Financial Leverage | 2 x | 2 x | 1.9 x | 2 x |
| USD | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
|---|---|---|---|---|
Net Income | 3.1 b | 2.7 b | 3.5 b | 4 b |
Depreciation and Amortization | 349 m | 1.3 b | 2.8 b | 2 b |
Accounts Receivable | (70 m) | (413 m) | (435 m) | (75 m) |
Inventories | (39 m) | (282 m) | (186 m) | |
Accounts Payable | (16.7 m) | |||
Cash From Operating Activities | 5 b | 3.4 b | 5.2 b | 6.9 b |
Purchases of PP&E | (396 m) | |||
Cash From Investing Activities | (3.6 b) | (17.1 b) | 2.2 b | (1.6 b) |
Long-term Borrowings | (565 m) | (1.3 b) | (5.1 b) | (863 m) |
Cash From Financing Activities | (918 m) | 15.9 b | (9.5 b) | (3.3 b) |
Interest Paid | 394 m | 578 m | 1.3 b | 1.1 b |
Income Taxes Paid | 521 m | 632 m | 1.4 b | 1 b |
| USD | Y, 2017 |
|---|---|
EV/EBIT | 25.8 x |
EV/CFO | 20 x |
Revenue/Employee | 337.6 k |
Debt/Equity | 0.5 x |
Debt/Assets | 0.3 x |
Financial Leverage | 2 x |
Medtronic Operating Metrics
- Source: Company FIlings
