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Operating Expense Breakdown
Allocation of Medtronic's costs across R&D, selling, general and administrative, and manufacturing, revealing where the company is investing to develop new devices and support sales. Rising R&D or SG&A can signal growth initiatives but may squeeze margins; steady or falling expenses versus revenue point to improving efficiency and cash generation.Medtronic’s expense mix shows a steady, sustained rise in SG&A as the primary driver of higher operating costs, reflecting deliberate commercial investment behind CAS, Hugo, Symplicity and other growth initiatives; R&D is modestly elevated and stable. Large, irregular hits from restructuring and litigation create quarter-to-quarter noise but aren’t the structural trend. The key takeaway for investors: management is trading near‑term margin pressure for top‑line acceleration, so watch whether organic revenue growth consistently outpaces SG&A inflation to validate margin guidance.
Date | Research and Development | Selling, General, and Administrative | Other | Restructuring | Litigation | Amortization |
|---|---|---|---|---|---|---|
Jun 30, 2026 | $771.00M | $3.20B | $123.00M | $72.00M | $0.00 | $412.00M |
Mar 31, 2026 | $671.00M | $3.06B | $260.00M | $118.00M | $23.00M | $409.00M |
Dec 31, 2025 | $722.00M | $2.96B | $35.00M | $77.00M | $62.00M | $441.00M |
Sep 30, 2025 | $754.00M | $2.96B | $22.00M | $10.00M | $0.00 | $463.00M |
Jun 30, 2025 | $726.00M | $2.81B | $70.00M | $45.00M | $27.00M | $459.00M |
Mar 31, 2025 | $684.00M | $2.72B | $15.00M | $147.00M | $214.00M | $564.00M |
Dec 31, 2024 | $675.00M | $2.72B | -$5.00M | $43.00M | $22.00M | $416.00M |
Sep 30, 2024 | $697.00M | $2.76B | -$34.00M | $30.00M | $0.00 | $413.00M |
Jun 30, 2024 | $676.00M | $2.65B | $1.00M | $47.00M | $81.00M | $414.00M |
Mar 31, 2024 | $675.00M | $2.77B | $477.00M | $112.00M | $44.00M | $419.00M |