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MDT (Medtronic) E10 : $3.50 (As of Apr. 2025)


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What is Medtronic E10?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

Medtronic's adjusted earnings per share data for the three months ended in Apr. 2025 was $0.820. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $3.50 for the trailing ten years ended in Apr. 2025.

During the past 12 months, Medtronic's average E10 Growth Rate was 3.20% per year. During the past 3 years, the average E10 Growth Rate was 2.30% per year. During the past 5 years, the average E10 Growth Rate was 3.00% per year. During the past 10 years, the average E10 Growth Rate was 2.80% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the E10 growth rate using E10 data.

During the past 13 years, the highest 3-Year average E10 Growth Rate of Medtronic was 21.50% per year. The lowest was 1.10% per year. And the median was 10.20% per year.

As of today (2025-07-12), Medtronic's current stock price is $89.92. Medtronic's E10 for the quarter that ended in Apr. 2025 was $3.50. Medtronic's Shiller PE Ratio of today is 25.69.

During the past 13 years, the highest Shiller PE Ratio of Medtronic was 44.18. The lowest was 20.48. And the median was 29.54.


Medtronic E10 Historical Data

The historical data trend for Medtronic's E10 can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Medtronic E10 Chart

Medtronic Annual Data
Trend Apr16 Apr17 Apr18 Apr19 Apr20 Apr21 Apr22 Apr23 Apr24 Apr25
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.05 3.27 3.40 3.39 3.50

Medtronic Quarterly Data
Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25
E10 Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.39 3.41 3.39 3.35 3.50

Competitive Comparison of Medtronic's E10

For the Medical Devices subindustry, Medtronic's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Medtronic's Shiller PE Ratio Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Medtronic's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Medtronic's Shiller PE Ratio falls into.


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Medtronic E10 Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. When we calculate the today's Shiller P/E ratio of a stock, we use today's price divided by E10.

What is E10? How do we calculate E10?

E10 is the average of the inflation adjusted earnings of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the E10 of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the earnings from 2001 through 2010.

We adjusted the earnings of 2001 earnings data with the total inflation from 2001 through 2010 to the equivalent earnings in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart earned $1 a share in 2001, then the 2001's equivalent earnings in 2010 is $1.4 a share. If Wal-Mart earns $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 earnings in 2010 is $1.35. So on and so forth, you get the equivalent earnings of past 10 years. Then you add them together and divided the sum by 10 to get E10.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Medtronic's adjusted earnings per share data for the three months ended in Apr. 2025 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Apr. 2025 (Change)*Current CPI (Apr. 2025)
=0.82/123.8881*123.8881
=0.820

Current CPI (Apr. 2025) = 123.8881.

Medtronic Quarterly Data

per share eps CPI Adj_EPS
201507 0.570 100.374 0.704
201510 0.360 100.075 0.446
201601 0.770 98.879 0.965
201604 0.780 99.875 0.968
201607 0.660 100.872 0.811
201610 0.800 99.776 0.993
201701 0.590 99.178 0.737
201704 0.840 100.773 1.033
201707 0.740 100.673 0.911
201710 1.480 100.374 1.827
201801 -1.030 99.377 -1.284
201804 1.070 100.374 1.321
201807 0.790 101.470 0.965
201810 0.820 101.271 1.003
201901 0.940 100.075 1.164
201904 0.870 102.068 1.056
201907 0.640 101.969 0.778
201910 1.010 101.969 1.227
202001 1.420 101.371 1.735
202004 0.480 101.969 0.583
202007 0.360 101.570 0.439
202010 0.360 100.474 0.444
202101 0.940 101.171 1.151
202104 1.000 103.065 1.202
202107 0.560 103.763 0.669
202110 0.970 105.557 1.138
202201 1.100 106.255 1.283
202204 1.100 110.242 1.236
202207 0.700 113.262 0.766
202210 0.320 115.315 0.344
202301 0.920 114.470 0.996
202304 0.880 118.213 0.922
202307 0.590 119.903 0.610
202310 0.680 121.111 0.696
202401 0.990 119.179 1.029
202404 0.490 121.232 0.501
202407 0.800 122.560 0.809
202410 0.990 121.956 1.006
202501 1.010 121.473 1.030
202504 0.820 123.888 0.820

Add all the adjusted EPS together and divide 10 will get our e10.


Medtronic  (NYSE:MDT) E10 Explanation

If a company grows much fast than inflation, E10 may underestimate the company's earnings power. Shiller PE Ratio can seem to be too high even the actual P/E is low.

For the Shiller P/E, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller P/E is also called PE10.

The Shiller P/E was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

Medtronic's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=89.92/3.50
=25.69

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Shiller P/E Ratio of Medtronic was 44.18. The lowest was 20.48. And the median was 29.54.


Be Aware

Shiller PE Ratio works better for cyclical companies. It gives you a better idea on the company's real earnings power.


Medtronic E10 Related Terms

Thank you for viewing the detailed overview of Medtronic's E10 provided by GuruFocus.com. Please click on the following links to see related term pages.


Medtronic Business Description

Address
Lower Hatch Street, 20 On Hatch, Dublin, IRL, 2
One of the largest medical-device companies, Medtronic develops and manufactures therapeutic medical devices for chronic diseases. Its portfolio includes pacemakers, defibrillators, transcatheter heart valves, stents, insulin pumps, spinal fixation devices, neurovascular products, advanced energy, and surgical tools. The company primarily markets its products to healthcare institutions and physicians in the United States, Western Europe, and Japan. Foreign sales account for roughly 50% of the company's total sales.
Executives
Brett A. Wall officer: EVP & Group Pres Restora Thera 710 MEDTRONIC PARKWAY, LC300, MINNEAPOLIS MN 55432
Geoffrey Martha officer: Sr VP, Strategy & Bus Dev 710 MEDTRONIC PKWAY, MS LC300, MINNEAPOLIS MN 55432
Michael Marinaro officer: EVP & President, Surgical OU 710 MEDTRONIC PARKWAY NE, LC300, MINNEAPOLIS MN 55432
Sean Salmon officer: EVP & Group President Diabetes MEDTRONIC PLC, 710 MEDTRONIC PARKWAY, LC300, MINNEAPOLIS MN 55432
Gregory L Smith officer: EVP Global Ops & Supply Chain 710 MEDTRONIC PARKWAY, LC300, MINNEAPOLIS MN 55432
Hoedt Rob Ten officer: EVP & President EMEAC 710 MEDTRONIC PKWY, MSLC300, MINNEAPOLIS MN 55432
Gregory P Lewis director C/O HONEYWELL INTERNATIONAL INC., 300 SOUTH TRYON STREET, CHARLOTTE NC 28202
Lidia Fonseca director 358 SOUTH MAIN STREET, BURLINGTON NC 27215
Karen L Parkhill officer: EVP & Chief Financial Officer 1717 MAIN STREET, MC 6402, DALLAS TX 75201
Ivan K Fong officer: EVP GENERAL COUNSEL & SECR 3M CENTER, ST. PAUL MN 55144-1000
Robert John White officer: EVP & President MITG MEDTRONIC PLC, 710 MEDTRONIC PKWY MS LC300, MINNEAPOLIS MN 55432
Richard H Anderson director MEDTRONIC, INC, 710 MEDTRONIC PKWY, MS LC310, MINNEAPOLIS MN 55432-5604
Bradley E Lerman officer: SVP General Counsel & Corp Sec MEDTRONIC, INC., 710 MEDTRONIC PKWY MSLC300, MINNEAPOLIS MN 55432
Jennifer M Kirk officer: Chief Accounting Officer 5 GREENWAY PLAZA, SUITE 110, HOUSTON TX 77046
John R Liddicoat officer: EVP & President of Americas MEDTRONIC PLC, 710 MEDTRONIC PKWY, MS LC300, MINNEAPOLIS MN 55432