Medtronic (MDT)财务
NYSE · Healthcare · Medical - Devices · 员工95,000人 · CEO Geoffrey Straub Martha
- 股价
- $96.54 -0.59%
- 市值
- $1230亿
- 企业价值
- $1500亿
- 最近财报
- Q1 '27 2026-09-03提交
- 下次财报
- 2026-11-17 EPS预期 $1.33
营收(TTM)$375亿+9.8% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)18.1%+0.2 百分点 对比去年同期营业利润 $67.9亿
净利润(TTM)$52.3亿+12.2% 对比去年同期税后,含营业外收益
自由现金流(TTM)$61.3亿+15.6% 对比去年同期资本支出 $19亿
稀释EPS(TTM)$4.06+11.8% 对比去年同期最近4个季度之和
净现金-$193亿+5.6% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $1230亿 EV $1500亿
- 营收
- $375亿 过去12个月
- 营收增速
- +7% FY2027年一致预期
- 净利润率
- 13.9% 净利润 / 营收,TTM
- P/E
- 23.6× 预期 16.2×(FY2027)
- P/S
- 3.3× 股价 / 营收,TTM
- EV / EBITDA
- 14.7× TTM
- 自由现金流
- $61.3亿 过去12个月
- 净利润
- $52.3亿 过去12个月
- 营收预期
- $390亿 FY2027年一致预期
- 盈利
- 2026-11-17 营收预期 $94.8亿
- 股息
- $2.86 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-09-01):营收超预期2.2%,EPS 超预期4.3%营收$97.6亿,预期$95.5亿(+2.2%);EPS $1.45,预期$1.39(+4.3%)。
- 营收增长加速:同比13.7%Q1 '27营收$97.6亿,此前四个季度的平均值为8.4%。
- 营业利润率18.1%(TTM),较去年同期+0.2 百分点营收增长9.8%,营业利润增长10.8%。
- 资本支出占营收的5.1%(去年为5.4%)最近4个季度投入$19亿(同比+3.3%)。自由现金流$61.3亿,相当于净利润的117.2%。
- 股东回报$48.3亿 = 自由现金流的78.8%回购$11.8亿(去年为$8.66亿),股息$36.5亿,股权激励$4.96亿(TTM)。
- 稀释股数一年内减少0.2%Q1 '27稀释股数12.9亿,一年前为12.9亿。
- 净债务 $193亿现金 + 短期投资 $88.2亿,含租赁债务 $282亿;一年前净债务 $205亿。
上一季度:Q1 '27
截至2026-07-31的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q1 '27 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $97.6亿 | $85.8亿 | +13.7% |
| 毛利率 | 65.0% | 57.7% | +7.3 百分点 |
| 营业利润 | $17.6亿 | $14.5亿 | +22.1% |
| 营业利润率 | 18.1% | 16.8% | +1.2 百分点 |
| 净利润 | $14.7亿 | $10.4亿 | +41.3% |
| 稀释EPS | $1.14 | $0.81 | +40.7% |
| 经营现金流 | $17.9亿 | $10.9亿 | +64.8% |
| 资本支出 | $5.03亿 | $5.04亿 | -0.2% |
| 自由现金流 | $12.9亿 | $5.84亿 | +120.9% |
| R&D | $7.71亿 | $7.26亿 | +6.2% |
| 股权激励费用 | $1.25亿 | $8600万 | +45.3% |
实际 vs 一致预期
2026-09-01| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $97.6亿 | $95.5亿 | +2.2% |
| EPS(一致预期口径) | $1.45 | $1.39 | +4.3% |
来自2026-09-01发布的Q1 '27财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q1 '27 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Cardiac and Vascular Group | $39.3亿 | +19.5% | 40.4% | – | – | |
| Neuroscience Group | $26.8亿 | +10.8% | 27.5% | – | – | |
| Medical Surgical | $22.8亿 | +9.4% | 23.4% | – | – | |
| Diabetes Group | $8.43亿 | +16.9% | 8.7% | – | – |
按地区划分的营收
占总额比例| 分部 | Q1 '27 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| United States | $194亿 | +14.7% | 80.0% | – | – | |
| Total Other Countries, Excluding United States and Ireland | $48.1亿 | +11.3% | 19.9% | – | – | |
| IRELAND | $4000万 | +21.2% | 0.2% | – | – |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q4 '26分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| Cardiovascular | – | – | $10.7亿 | +11.8% | – | – | $36.7亿 |
| Neuroscience Group | – | – | $8.72亿 | +1.8% | – | – | $30.6亿 |
| Medical Surgical | – | – | $6.12亿 | +6.4% | – | – | $21.3亿 |
| Diabetes Group | – | – | – | – | – | – | – |
| Other Segment | – | – | – | – | – | – | – |
| All other segments | – | – | – | – | – | – | – |
| Other Operating Segments Including Diabetes | – | – | – | – | – | – | – |
各分部营业利润
季度各分部营业利润率
季度第四季度为推算值:10-K披露全年数据,减去10-Q的前三个季度。
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $80.4亿
- 资本支出
- -$19亿
- 股票回购
- -$11.8亿
- 股息
- -$36.5亿
- 收购
- -$15.7亿
- 债务净发行
- $1.51亿
- 股权激励费用
- $4.96亿
- 自由现金流
- $61.3亿
- 股东回报 / FCF
- 78.8%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 23.6× | 26.8× | 22.2× – 32.1× |
| EV / EBITDA | 14.7× | 15.7× | 13.5× – 18.3× |
| EV / 营收 | 4.0× | 4.3× | 3.7× – 5.1× |
| 股价 / FCF | 20.1× | 22.2× | 19.7× – 26.4× |
| 股价 / 净资产 | 2.5× | 2.3× | 2.1× – 2.7× |
| FCF收益率 | 5.0% | 4.6% | 3.8% – 5.1% |
| 投入资本回报率 | 6.4% | 5.6% | 4.7% – 6.4% |
| 净资产收益率 | 10.6% | 8.7% | 7.3% – 9.7% |
分析师
一致目标价 $97.73 (+1.2%)
区间 $83.00 – $115.00 · 评级 Buy
强烈买入1
买入30
持有20
卖出0
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2027 | $390亿 | +7.4% | $5.98 | +60.2% | 16.2× | 18 |
| FY2028 | $403亿 | +3.2% | $6.39 | +7.0% | 15.1× | 17 |
| FY2029 | $421亿 | +4.5% | $6.91 | +8.1% | 14.0× | 7 |
| FY2030 | $447亿 | +6.2% | $7.49 | +8.3% | 12.9× | 2 |
| FY2031 | $460亿 | +2.8% | $8.09 | +8.0% | 11.9× | 3 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Medtronic Plc在近期10-Q / 10-K文件中标记的全部295项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| – | – | – | $1.11亿 | – | – | |
| – | – | – | 1.8% | – | – | |
| – | – | – | $9900万 | – | – | |
| Accounts Payable, Current | $27亿 | $25.6亿 | +5.5% | $26.4亿 | $24.5亿 | +8.0% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $63.6亿 | $62.6亿 | +1.5% | $66.4亿 | $65.2亿 | +2.0% |
| Accounts Receivable, Allowance for Credit Loss, Current | $2.03亿 | $2.04亿 | -0.5% | $1.9亿 | $1.99亿 | -4.5% |
| Accounts Receivable, Credit Loss Expense (Reversal) | $3400万2026-04-24 | $2700万 | +25.9% | $1.36亿 | $1.23亿 | +10.6% |
| Accrued Income Taxes, Current | $10.6亿 | $9.33亿 | +13.2% | $9.14亿 | $13.6亿 | -32.7% |
| Accrued Income Taxes, Noncurrent | $15.2亿 | $17.2亿 | -11.6% | $15.2亿 | $15.7亿 | -3.7% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$37.6亿 | -$46亿 | +18.4% | -$41亿 | -$42.8亿 | +4.3% |
| Additional Paid in Capital | $208亿 | $209亿 | -0.4% | $209亿 | $208亿 | +0.4% |
| Adjustments to Additional Paid in Capital, Other | – | – | – | $5.38亿 | – | – |
| Amortization of Intangible Assets | $4.08亿2026-04-24 | $5.64亿 | -27.7% | $17.7亿 | $18.1亿 | -1.9% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $9500万2026-01-23 | $9800万 | -3.1% | $4.57亿 | $4.29亿 | +6.5% |
| Asset at Fair Value, Changes in Fair Value Resulting from Changes in Assumptions | $5000万2026-04-24 | $1.71亿 | -70.8% | $1.4亿 | $1.71亿 | -18.1% |
| Asset Impairment Charges | – | – | – | $0 | $0 | – |
| Assets | $933亿 | $910亿 | +2.6% | $930亿 | $917亿 | +1.5% |
| Assets, Current | $244亿 | $232亿 | +5.0% | $248亿 | $238亿 | +4.1% |
| Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | – | – | – | -$500万 | -$200万 | -150.0% |
| Business Combination, Contingent Consideration, Liability | $2.75亿 | – | – | $1.63亿 | $8100万 | +101.2% |
| Cash and Cash Equivalents, at Carrying Value | $16.9亿 | $12.7亿 | +32.8% | $19.5亿 | $22.2亿 | -12.1% |
| Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | -$700万2026-04-24 | – | – | -$8700万 | $6200万 | -240.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $16.9亿 | $12.7亿 | +32.8% | $19.5亿 | $22.2亿 | -12.1% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $8.03亿2026-04-24 | $9.78亿 | -17.9% | -$2.69亿 | $9.34亿 | -128.8% |
| Common Stock, Dividends, Per Share, Declared | $0.712026-01-23 | $0.70 | +1.4% | $2.84 | $2.80 | +1.4% |
| Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 | 0.0% | $0.00 | $0.00 | 0.0% |
| Common Stock, Shares Authorized | 26亿 | 26亿 | 0.0% | 26亿 | 26亿 | 0.0% |
| Common Stock, Shares, Issued | 12.8亿 | 12.8亿 | -0.1% | 12.8亿 | 12.8亿 | -0.1% |
| Common Stock, Shares, Outstanding | 12.8亿 | 12.8亿 | -0.1% | 12.8亿 | 12.8亿 | -0.1% |
| Common Stock, Value, Issued | $0 | $0 | – | $0 | $0 | – |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $1600万2026-04-24 | $800万 | +100.0% | $3500万 | $3100万 | +12.9% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $14.7亿2026-04-24 | -$3.89亿 | +478.7% | $49.8亿 | $37亿 | +34.8% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $14.9亿2026-04-24 | -$3.81亿 | +490.6% | $50.2亿 | $37.3亿 | +34.6% |
| Contract with Customer, Liability | $5亿 | $4.42亿 | +13.1% | $5亿 | $4.46亿 | +12.1% |
| Contract with Customer, Liability, Revenue Recognized | $8500万2026-04-24 | $6900万 | +23.2% | $3.99亿 | $3.2亿 | +24.7% |
| Cost of Goods and Services Sold | $34亿2026-04-24 | $31.5亿 | +8.0% | $127亿 | $116亿 | +9.4% |
| Current Federal Tax Expense (Benefit) | – | – | – | $1.55亿 | $5.83亿 | -73.4% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $11.1亿 | $6.92亿 | +60.8% |
| Current Income Tax Expense (Benefit) | – | – | – | $12.7亿 | $12.8亿 | -0.5% |
| Debt Instrument, Unamortized Discount (Premium), Net | $5200万 | $6100万 | -14.8% | $5700万 | $5900万 | -3.4% |
| Debt Issuance Costs, Net | $1.1亿 | $1.13亿 | -2.7% | $1.14亿 | $1.17亿 | -2.6% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | $1200万 | $3300万 | -63.6% | $3700万 | $2600万 | +42.3% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | $8700万 | $8400万 | +3.6% | $5600万 | $1亿 | -44.0% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 10 | $5.11亿 | $13.4亿 | -61.8% | $14.7亿 | $13.4亿 | +10.0% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | $15亿 | $11.1亿 | +35.5% | $10.6亿 | $8.45亿 | +25.2% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $32.4亿 | $30.4亿 | +6.5% | $29.7亿 | $31.8亿 | -6.7% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One | $19.8亿 | $14.3亿 | +38.4% | $18亿 | $14.6亿 | +23.7% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | $35.5亿 | $24.3亿 | +46.0% | $23.5亿 | $29.9亿 | -21.4% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $7800万 | $7500万 | +4.0% | $4800万 | $9100万 | -47.3% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $11.1亿 | $7.35亿 | +51.6% | $9.66亿 | $8.14亿 | +18.7% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $900万 | $900万 | 0.0% | $700万 | $900万 | -22.2% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | $4.86亿 | $13.1亿 | -63.0% | $14.6亿 | $13.1亿 | +11.0% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | $14.8亿 | $11.1亿 | +33.6% | $10.6亿 | $8.43亿 | +25.9% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $32.1亿 | $30.2亿 | +6.4% | $29.7亿 | $31.5亿 | -5.6% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | $19.7亿 | $14.2亿 | +38.7% | $18亿 | $14.5亿 | +24.0% |
| Debt, Current | $25.4亿 | $24.3亿 | +4.4% | $17.9亿 | $28.7亿 | -37.8% |
| DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss | $72.3亿 | $69.1亿 | +4.5% | $73.1亿 | $68.3亿 | +7.0% |
| DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss | $72.3亿 | $69.1亿 | +4.5% | $73.1亿 | $68.3亿 | +7.0% |
| DebtSecuritiesAvailableForSaleExcludingAccruedInterest | $71.5亿 | $68.6亿 | +4.2% | $72.9亿 | $67.5亿 | +7.9% |
| Deferred Compensation Liability, Current | $19.1亿 | $20.2亿 | -5.5% | $26.8亿 | $25.1亿 | +6.5% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-07-31, 10-K 2026-04-24, 10-Q 2026-01-23, 10-Q 2025-10-24, 10-Q 2025-07-25, 10-K 2025-04-25, 10-Q 2025-01-24, 10-Q 2024-10-25
上次刷新未更新（显示旧数据或无数据）：SEC segments。
数据截至 2026-11-01