Medline Inc. balance sheet

At the end of fiscal 2025, Medline Inc. had total assets of $38.48bn, total liabilities of $19.20bn and shareholders' equity of $10.74bn. It held $1.94bn in cash against $12.76bn of debt: net debt of $10.82bn.

Balance sheet

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Medline Inc.: balance sheet, annual
Fiscal year	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash and equivalents	0.4	1.6	0.2	1.9
Receivables	—	—	3.2	3.5
Inventory	—	—	4.5	4.8
Total current assets	—	—	8.3	10.7
Goodwill	—	7.5	8.1	8.1
Total assets	—	—	36.0	38.5
Accounts payable	—	—	0.9	1.0
Total current liabilities	—	—	2.4	2.5
Short-term debt	—	—	0.1	0.1
Long-term debt	—	—	16.4	12.5
Total debt	0.0	0.0	16.8	12.8
Total liabilities	—	—	19.5	19.2
Shareholders' equity	—	—	—	10.7
Non-controlling interests and other (assets − liabilities − equity)	—	—	—	8.5
Net debt (negative = net cash)	−0.4	−1.6	16.6	10.8

US$ billions unless shown otherwise. Fiscal quarters.

Medline Inc.: balance sheet, quarterly
Quarter	2024 Q3Sept 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Receivables	—	—	—	—	3.7	3.7
Inventory	—	—	—	—	4.8	4.7
Total current assets	—	—	—	—	11.2	11.7
Goodwill	—	—	—	—	8.1	8.1
Total assets	—	—	—	—	39.0	39.4
Accounts payable	—	—	—	—	0.9	1.0
Total current liabilities	—	—	—	—	2.5	2.7
Short-term debt	—	—	—	—	0.1	0.0
Long-term debt	—	—	—	—	12.5	12.5
Total debt	—	—	—	—	12.6	12.6
Total liabilities	—	—	—	—	19.7	20.3
Shareholders' equity	—	—	—	—	11.3	11.6
Non-controlling interests and other (assets − liabilities − equity)	—	—	—	—	8.1	7.5

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Medline Inc.'s SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Medline Inc.