MedtronicXSWX:MDT +1.21%21 PB Ratio is 2.15 as of Jun. 25, 2026, which is 9% below its 10-year median of 2.36. GuruFocus rates XSWX:MDT with a GF Score™ of 21/100 and a GF Value™ of CHF80.97 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 788 Medical Devices & Instruments companies, Medtronic ranks worse than 50.25% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-06-25), Medtronic's share price is CHF65.29. Medtronic's Book Value per Share for the quarter that ended in Apr. 2026 was CHF30.43. Hence, Medtronic's PB Ratio of today is 2.15.
Good Sign:
Medtronic PLC stock PB Ratio (=2.07) is close to 2-year low of 1.91.
The historical rank and industry rank for Medtronic's PB Ratio or its related term are showing as below:
XSWX:MDT'
s PB Ratio Range Over the Past 10 Years
Min: 1.81 Med: 2.36 Max: 3.52
Current: 2.07
During the past 13 years, Medtronic's highest PB Ratio was 3.52. The lowest was 1.81. And the median was 2.36.
XSWX:MDT's PB Ratio is ranked worse than 50.25% of 788
companies
in the Medical Devices & Instruments industry
Industry Median: 2.045
vs XSWX:MDT: 2.07
During the past 12 months, Medtronic's average Book Value Per Share Growth Rate was 3.10% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was -0.30% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 0.40% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Medtronic was 31.40% per year. The lowest was -1.70% per year. And the median was 13.40% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Medtronic PB Ratio Related Terms
Medtronic PB Ratio Historical Data
* Premium members only.
The historical data trend for Medtronic's PB Ratio 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 PB Ratio, along with its competitors' market caps and PB 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 PB Ratio vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Medtronic's PB Ratio distribution charts can be found below:
* The bar in red indicates where Medtronic's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
Medtronic's PB Ratio for today is calculated as follows:
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Medtronic (XSWX:MDT) has a PB Ratio of 2.15 as of Jun. 25, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Medtronic and its competitors. This is near median its historical median of 2.36. Over the past decade, Medtronic's PB Ratio has ranged from 1.81 to 3.52. According to the industry distribution chart, Medtronic ranks #396 out of 788 companies in the Medical Devices & Instruments industry, placing it in the top 50.3%.
Is Medtronic's PB Ratio too high?
Medtronic's current PB Ratio of 2.15 is near median its 10-year median of 2.36. Over the past 10 years, this metric has ranged from a low of 1.81 to a high of 3.52. The Medical Devices & Instruments industry median PB Ratio is 2.05. Medtronic's value of 2.15 is 5.1% above this industry median. Based on the distribution chart, Medtronic ranks #396 out of 788 companies in the Medical Devices & Instruments industry, which is below the industry midpoint. Overall, Medtronic has a GF Score™ of 21/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Medtronic's PB Ratio compare to SYK and BSX?
According to the Medical Devices & Instruments industry distribution chart, Medtronic ranks #396 out of 788 companies for PB Ratio. This places Medtronic in the lower half of its industry. The industry median PB Ratio is 2.05. Medtronic's value of 2.15 is 5.1% above this benchmark. Historically, Medtronic's own PB Ratio has ranged from 1.81 to 3.52 over the past decade. While the company's 10-year median is 2.36 vs. the industry median of 2.05, 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 PB Ratio for a Medical Devices & Instruments company?
The median PB Ratio among Medical Devices & Instruments companies is 2.05, based on 788 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Medtronic's current PB Ratio of 2.15 is 5.1% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Medtronic and its competitors. For the Medical Devices & Instruments industry, the median PB Ratio is 2.05 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Medtronic's current PB Ratio is 2.15, which is near median its own 10-year median of 2.36. 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?
Based on GuruFocus' analysis, Medtronic (XSWX:MDT) is currently considered Modestly Undervalued. The stock's GF Value™ is CHF80.97, compared to a current price of CHF65.29 — trading 19.4% below its estimated fair value. The current PB Ratio is 2.15, which is near median its 10-year median of 2.36 and 5.1% above the Medical Devices & Instruments industry median of 2.05. Medtronic's overall GF Score™ is 21/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Medtronic (XSWX:MDT), the current PB Ratio is 2.15 as of Jun. 25, 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 CHF65.29 is trading 19.4% below its estimated GF Value™ of CHF80.97.
GuruFocus considers Medtronic to be Modestly Undervalued.
Key valuation signals for XSWX:MDT:
PB Ratio: 2.15 (near median its 10-year median of 2.36)
GF Value™: CHF80.97 vs. price of CHF65.29 (19.4% below fair value)
Industry Position: 5.1% above the Medical Devices & Instruments median (#396 of 788)
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.
21GF Score
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