Short answer
Medtronic (MDT) filed its fiscal 2025 10-K annual report with the SEC on Jun 20, 2025. It reported revenue of $33.5B (+3.6% year over year) and net income of $4.7B.
- Top risk flagged: Cybersecurity risk via IT system breaches threatening global supply chain, customer and payor data integrity
FY2025 key financial metrics · XBRL
- Revenue
- $33.5B
- +3.6% YoY
- Net income
- $4.7B
- +26.8% YoY
- Operating margin
- 17.8%
- +1.9 pp YoY
- EPS (diluted)
- $3.61
- +30.8% YoY
- ROE
- 9.7%
- +2.4 pp YoY
- Operating cash flow
- $7.0B
- +3.8% YoY
Source: XBRL data from the Medtronic (MDT) FY2025 10-K on SEC EDGAR. USD.
Medtronic FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Medical device development, manufacturing, and global distribution focusing on innovation and regulatory compliance
- Emphasis on cybersecurity and AI risk management, addressing vulnerabilities and regulatory challenges for AI system integration
- Strategic focus on sustainability with ambitious targets, including net carbon neutral operations by 2030 and net zero emissions by 2045
- Exposure to evolving global tax regimes, including implementation of OECD Pillar Two Model Rules from fiscal 2025 impacting tax liabilities
- Ongoing U.S. tax litigation involving Puerto Rico income allocation with potential material adverse financial impact if resolved unfavorably
Management Discussion & Analysis
- Revenue $33.0B, up 5.0% YoY from $31.4B in fiscal year 2024
- Operating margin 24.1% vs 23.3% in prior year
- Best performing segment: Cardiac Rhythm & Heart Failure $11.4B, up 7% YoY
- Worst performing segment: Restorative Therapies $7.0B, down 2% YoY
- Operating cash flow $6.5B; $1.2B in share repurchases, $1.0B dividends, $1.8B capital expenditures
- Management expects low single-digit revenue growth in fiscal 2026; supply chain constraints remain key risk
Risk Factors
- Cybersecurity risk via IT system breaches threatening global supply chain, customer and payor data integrity
- CISO with 29 years experience leads cybersecurity risk management, reporting to CIO connected to Executive Committee
- Board’s Quality Committee directly oversees cybersecurity strategies, ensuring control and unauthorized access prevention
- Regular Audit Committee briefings on IT security risks with escalation protocols for critical cybersecurity events
Generated from the filing text; verify against the original. How to read a 10-K
Other Medtronic annual reports
Ask about this 10-K
Compare years, dig into a risk factor or check the numbers against insider trades and fund holders.