Medtronic vs Stryker
Medtronic is the larger business, with $36.36bn of revenue in fiscal 2026 against $25.12bn for Stryker (1.4 times as much). Stryker grew faster (11.2% against 8.4%). Medtronic kept more of each dollar of sales as profit: a net margin of 13.2% against 12.9%.
| Latest fiscal year | MedtronicMDT, 2026 | StrykerSYK, 2025 |
|---|---|---|
| Revenue | $36.36bn | $25.12bn |
| Revenue growth | 8.4% | 11.2% |
| Net income | $4.80bn | $3.25bn |
| Operating margin | — | 19.5% |
| Net margin | 13.2% | 12.9% |
| Return on equity | 9.8% | 15.1% |
| Free cash flow | $5.43bn | $4.28bn |
| Cash | $1.95bn | $4.01bn |
| Total debt | $28.13bn | $15.86bn |
| Debt to equity | — | 70.7% |
| Dividend per share | $2.84 | — |
| Dividend yield | 2.9% | 1.1% |
| Share buybacks | $1.03bn | — |
| Employees | 95,000 | 56,000 |
| Market value | $126.55bn | $118.94bn |
| Price vs our value range | Within our value range | Within our value range |
| Moat score | 86 (Strong) | 78 (Strong) |
| Insider trades, 12 months | 0 buys, 18 sales | 0 buys, 71 sales |