Medtronic plc reported a total revenue of $33.5 billion for the fiscal year ending April 25, 2025, marking a 4% increase from $32.4 billion in the previous fiscal year. The company's net income attributable to shareholders rose to $4.7 billion, or $3.61 per diluted share, compared to $3.7 billion, or $2.76 per diluted share, in fiscal year 2024. This growth in revenue and profitability was driven by strong performances across several segments, particularly in Cardiac Rhythm & Heart Failure, Diabetes, and Neuromodulation, which saw increases of 7%, 11%, and 11%, respectively.
In terms of operational changes, Medtronic announced its intention to separate its Diabetes business into a new independent, publicly traded company, with the separation expected to be completed within 18 months. This strategic move is part of the company's broader initiative to streamline operations and focus on core areas of growth. Additionally, the company continued to invest in innovation, with research and development expenses remaining stable at approximately $2.7 billion, reflecting its commitment to advancing medical technologies.
Geographically, Medtronic's U.S. sales increased by 4% to $17.2 billion, while international sales also grew by 4% to $16.4 billion. The company reported a total employee headcount of over 95,000, with 44% based in the U.S. or Puerto Rico. The company’s market share in key segments remained strong, supported by the adoption of new technologies and products, including the Micra transcatheter pacing system and the MiniMed 780G insulin pump.
The filing also highlighted challenges, including ongoing litigation and regulatory scrutiny, particularly related to product liability and intellectual property matters. The company has accrued approximately $0.4 billion for litigation expenses, reflecting its proactive approach to managing potential liabilities. Looking ahead, Medtronic anticipates continued growth driven by product innovation and geographic expansion, although it remains cautious of macroeconomic factors such as inflation and global trade dynamics that could impact its operations.
About Medtronic plc
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