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MedtronicXSWX:MDT 74 EV-to-OCF is 18.34 as of Aug. 09, 2026, which is 15% below its 10-year median of 21.54. GuruFocus rates XSWX:MDT with a GF Score™ of 74/100 and a GF Value™ of CHF80.28. The stock has 3 warning signs investors should review. Among 853 Medical Devices & Instruments companies, Medtronic ranks worse than 71.75% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, Medtronic's Enterprise Value is CHF106,371 Mil.
Medtronic's Cash Flow from Operations for the trailing twelve months (TTM) ended in Apr. 2026 was CHF5,799 Mil. Therefore, Medtronic's EV-to-OCF for today is 18.34.
The historical rank and industry rank for Medtronic's EV-to-OCF or its related term are showing as below:
XSWX:MDT'
s EV-to-OCF Range Over the Past 10 Years
Min: 15.09 Med: 21.54 Max: 32.59
Current: 17.86
During the past 13 years, the highest EV-to-OCF of Medtronic was 32.59. The lowest was 15.09. And the median was 21.54.
XSWX:MDT's EV-to-OCF is ranked worse than 71.75% of 853
companies
in the Medical Devices & Instruments industry
Industry Median: 7.82
vs XSWX:MDT: 17.86
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Medtronic's share price for today is CHF69.82.
Medtronic's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Apr. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was CHF2.959.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Medtronic EV-to-OCF Related Terms
Medtronic EV-to-OCF Historical Data
* Premium members only.
The historical data trend for Medtronic's EV-to-OCF 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.
For the Medical Devices subindustry, Medtronic's EV-to-OCF, along with its competitors' market caps and EV-to-OCF 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 EV-to-OCF vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Medtronic's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where Medtronic's EV-to-OCF falls into.
Medtronic's current Enterprise Value is CHF106,371 Mil.
Medtronic's Cash Flow from Operations for the trailing twelve months (TTM) ended in Apr. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was CHF5,799 Mil.
* 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.
Medtronic (XSWX:MDT) has a EV-to-OCF of 18.34 as of Aug. 09, 2026. This is 15% below median its historical median of 21.54. Over the past decade, Medtronic's EV-to-OCF has ranged from 15.09 to 32.59. According to the industry distribution chart, Medtronic ranks #612 out of 853 companies in the Medical Devices & Instruments industry, placing it in the top 71.7%.
Is Medtronic's EV-to-OCF too high?
Medtronic's current EV-to-OCF of 18.34 is 15% below median its 10-year median of 21.54. Over the past 10 years, this metric has ranged from a low of 15.09 to a high of 32.59. The Medical Devices & Instruments industry median EV-to-OCF is 7.82. Medtronic's value of 18.34 is 134.5% above this industry median. Based on the distribution chart, Medtronic ranks #612 out of 853 companies in the Medical Devices & Instruments industry, which is below the industry midpoint. Overall, Medtronic has a GF Score™ of 74/100, reflecting its overall financial health beyond just this single metric.
How does Medtronic's EV-to-OCF compare to SYK and BSX?
According to the Medical Devices & Instruments industry distribution chart, Medtronic ranks #612 out of 853 companies for EV-to-OCF. This places Medtronic in the lower half of its industry. The industry median EV-to-OCF is 7.82. Medtronic's value of 18.34 is 134.5% above this benchmark. Historically, Medtronic's own EV-to-OCF has ranged from 15.09 to 32.59 over the past decade. While the company's 10-year median is 21.54 vs. the industry median of 7.82, Medtronic has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-OCF for a Medical Devices & Instruments company?
The median EV-to-OCF among Medical Devices & Instruments companies is 7.82, based on 853 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Medtronic's current EV-to-OCF of 18.34 is 134.5% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Medical Devices & Instruments industry, the median EV-to-OCF is 7.82 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Medtronic's current EV-to-OCF is 18.34, which is 15% below median its own 10-year median of 21.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Medtronic stock overvalued right now?
Medtronic (XSWX:MDT) has a current EV-to-OCF of 18.34. The stock's GF Value™ is CHF80.28, compared to a current price of CHF69.82 — trading 13% below its estimated fair value. The current EV-to-OCF is 18.34, which is 15% below median its 10-year median of 21.54 and 134.5% above the Medical Devices & Instruments industry median of 7.82. Medtronic's overall GF Score™ is 74/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For Medtronic (XSWX:MDT), the current EV-to-OCF is 18.34 as of Aug. 09, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Medtronic (XSWX:MDT) Overvalued in 2026?
Based on GuruFocus' analysis, Medtronic stock appears to be undervalued.
The current stock price of CHF69.82 is trading 13% below its estimated GF Value™ of CHF80.28.
Key valuation signals for XSWX:MDT:
EV-to-OCF: 18.34 (15% below median its 10-year median of 21.54)
GF Value™: CHF80.28 vs. price of CHF69.82 (13% below fair value)
Industry Position: 134.5% above the Medical Devices & Instruments median (#612 of 853)
No single metric tells the full story. See the XSWX:MDT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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, spinal fixation devices, neurovascular products, advanced energy, ablation laser therapy, 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.
74GF Score
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