Start with its own history
At 18.98×, MDT is 36.7% below its 10-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NYSE · MDTMedical - DevicesUpdated Nov 4, 2026
Medtronic Plc P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
18.98×
36.7% belowthe 10-year annual average
Share price104.96
÷Earnings per share5.53
Price and EPS in quote currency. Calculation details
Investors are paying 18.98 for every 1 of reported earnings per share.
P/E over time
2017 – 2026
Annual P/ESelected-period average 29.97×
3-year average24.73×3 positive annual observations
5-year average26.83×5 positive annual observations
10-year average29.97×10 positive annual observations
Peer median · TTM27.17×7 peers with positive P/E
Historical P/E ratios
Annual period-end data · 25 observations
| Period end | P/E | Change |
|---|---|---|
| Apr 24, 2026 | 22.22× | -4.2% |
| Apr 25, 2025 | 23.18× | -19.5% |
| Apr 26, 2024 | 28.79× | -10.4% |
| Apr 28, 2023 | 32.14× | +15.5% |
| Apr 29, 2022 | 27.83× | -43.0% |
| Apr 30, 2021 | 48.85× | +78.6% |
| Apr 30, 2020 | 27.35× | +7.7% |
| Apr 26, 2019 | 25.39× | -28.5% |
View all 25 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Apr 27, 2018 | 35.50× | +24.7% |
| Apr 28, 2017 | 28.46× | -9.8% |
| Apr 29, 2016 | 31.53× | +3.3% |
| Apr 30, 2015 | 30.51× | +60.4% |
| Apr 25, 2014 | 19.02× | +38.6% |
| Apr 30, 2013 | 13.73× | +23.3% |
| Apr 30, 2012 | 11.14× | -23.4% |
| Apr 30, 2011 | 14.55× | -6.8% |
| Apr 30, 2010 | 15.60× | -9.8% |
| Apr 30, 2009 | 17.30× | -30.0% |
| Apr 30, 2008 | 24.71× | +13.9% |
| Apr 30, 2007 | 21.69× | -8.4% |
| Apr 30, 2006 | 23.67× | -33.1% |
| Apr 30, 2005 | 35.37× | +12.9% |
| Apr 30, 2004 | 31.34× | -14.0% |
| Apr 30, 2003 | 36.44× | -33.9% |
| Apr 30, 2002 | 55.17× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How MDT compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 MDT This stockMedtronic Plc | 18.98× |
 BSXBoston Scientific Corporation | 19.33× |
 EWEdwards Lifesciences Corporation | 57.11× |
 LIVNLivaNova PLC | 26.31× |
 AVRAnteris Technologies Global Corp. | N/M |
 PENPenumbra, Inc. | 80.81× |
 GNGBYGetinge AB (publ) | 26.85× |
 688617.SSAPT Medical Inc. | 38.15× |
 PHGKoninklijke Philips N.V. | 27.17× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does MDT’s P/E tell you?
Compare like with like
The median of the 7 positive peer ratios above is 27.17×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take MDT into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("MDT", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 104.96 ÷ EPS 5.53 = 18.98×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Nov 4, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
MDT P/E ratio: common questions
The essentials behind the numbers.
Medtronic Plc's current P/E is 18.98× based on the quote data last updated Nov 4, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.