$MDT Q4 FY2026:
Revenue: $9.81B vs. $9.66B expected
Non-GAAP EPS: $1.55 vs. $1.54 expected
Revenue growth: +9.9%
Organic growth: +6.6%
Free cash flow: $5.4B
Cash + investments: $9.2B
The standout number:
Cardiac Ablation Solutions revenue jumped 78% globally, including 124% growth in the U.S.
That helped drive 10.1% organic growth in Cardiovascular, Medtronic’s largest segment.
Diabetes also grew 15% as reported, while Medical Surgical and Neuroscience both posted organic growth.
For the full year, Medtronic generated $36.4B in revenue, up 8.4% as reported and 5.8% organically.
That was its strongest annual revenue growth in 10 years.
The company also raised its dividend to $0.72 per quarter, marking its 49th consecutive year of dividend increases.
FY2027 guidance:
Organic revenue growth: 6.75% to 7.25%
Non-GAAP EPS: $5.90 to $6.00
EPS growth: 6.7% to 8.5%
This wasn’t just a small earnings beat.
It was a clean operating update: stronger growth, cardiovascular momentum, diabetes strength, higher guidance, major cash flow, and another dividend increase.