Price to Earnings (P/E)
since 2005
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Medtronic PLC pages available for free this week:
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Common Stock Valuation Ratios
- Capital Asset Pricing Model (CAPM)
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
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Calculation
Medtronic PLC, P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income attributable to Medtronic1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Jun 18, 2026 | = | ÷ | = | ÷ | |||||||
| Jun 20, 2025 | = | ÷ | = | ÷ | |||||||
| Jun 20, 2024 | = | ÷ | = | ÷ | |||||||
| Jun 22, 2023 | = | ÷ | = | ÷ | |||||||
| Jun 23, 2022 | = | ÷ | = | ÷ | |||||||
| Jun 25, 2021 | = | ÷ | = | ÷ | |||||||
| Jun 19, 2020 | = | ÷ | = | ÷ | |||||||
| Jun 21, 2019 | = | ÷ | = | ÷ | |||||||
| Jun 22, 2018 | = | ÷ | = | ÷ | |||||||
| Jun 27, 2017 | = | ÷ | = | ÷ | |||||||
| Jun 28, 2016 | = | ÷ | = | ÷ | |||||||
| Jun 23, 2015 | = | ÷ | = | ÷ | |||||||
| Jun 20, 2014 | = | ÷ | = | ÷ | |||||||
| Jun 24, 2013 | = | ÷ | = | ÷ | |||||||
| Jun 26, 2012 | = | ÷ | = | ÷ | |||||||
| Jun 28, 2011 | = | ÷ | = | ÷ | |||||||
| Jun 29, 2010 | = | ÷ | = | ÷ | |||||||
| Jun 23, 2009 | = | ÷ | = | ÷ | |||||||
| Jun 24, 2008 | = | ÷ | = | ÷ | |||||||
| Jun 25, 2007 | = | ÷ | = | ÷ | |||||||
| Jun 28, 2006 | = | ÷ | = | ÷ | |||||||
| Jun 29, 2005 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2026-04-24), 10-K (reporting date: 2025-04-25), 10-K (reporting date: 2024-04-26), 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27), 10-K (reporting date: 2017-04-28), 10-K (reporting date: 2016-04-29), 10-K (reporting date: 2015-04-24), 10-K (reporting date: 2014-04-25), 10-K (reporting date: 2013-04-26), 10-K (reporting date: 2012-04-27), 10-K (reporting date: 2011-04-29), 10-K (reporting date: 2010-04-30), 10-K (reporting date: 2009-04-24), 10-K (reporting date: 2008-04-25), 10-K (reporting date: 2007-04-27), 10-K (reporting date: 2006-04-28), 10-K (reporting date: 2005-04-29).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Medtronic PLC Annual Report.
The financial trajectory from 2005 to 2026 exhibits significant volatility in valuation multiples and share price, characterized by distinct phases of contraction, expansion, and subsequent normalization.
- Share Price Dynamics
- The share price experienced a period of relative stability and moderate decline between 2005 and 2012, reaching a cyclical low of 33.37 in 2009. A sustained growth phase emerged after 2013, with the price ascending to a peak of 124.93 in 2021. Following this peak, a correction occurred, with the price stabilizing between 79.34 and 88.67 during the 2022 to 2026 period.
- Earnings per Share (EPS) Performance
- EPS demonstrated a general upward trend from 1.49 in 2005 to 3.53 in 2012. A period of volatility followed, marked by a significant decline to 1.89 in 2015. Earnings subsequently recovered and fluctuated between 2.30 and 3.79, ending the period at 3.75 in 2026, which indicates a long-term increase in fundamental profitability.
- Price-to-Earnings (P/E) Ratio Trends
- The P/E ratio underwent three distinct phases. From 2005 to 2012, a contraction is observed, with the ratio falling from 35.12 to a low of 10.57. A period of valuation expansion followed between 2013 and 2021, reaching a maximum of 46.56. The final phase, from 2022 to 2026, shows a steady regression toward a more moderate valuation, concluding at 21.15.
A notable divergence occurs in 2015, where a sharp decrease in EPS to 1.89 coincided with a P/E spike to 40.56, suggesting that market sentiment remained bullish despite a temporary drop in earnings. Similarly, the valuation peak in 2021 aligns with the maximum share price, indicating that the price increase significantly outpaced earnings growth during that interval. The most recent data suggests a convergence where the P/E ratio is stabilizing as earnings remain relatively strong.
Comparison to Competitors
Medtronic PLC, P/E, long-term trends, comparison to competitors
| Medtronic PLC | Abbott Laboratories | Elevance Health Inc. | Intuitive Surgical Inc. | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|
| Jun 18, 2026 | |||||
| Jun 20, 2025 | |||||
| Jun 20, 2024 | |||||
| Jun 22, 2023 | |||||
| Jun 23, 2022 | |||||
| Jun 25, 2021 | |||||
| Jun 19, 2020 | |||||
| Jun 21, 2019 | |||||
| Jun 22, 2018 | |||||
| Jun 27, 2017 | |||||
| Jun 28, 2016 | |||||
| Jun 23, 2015 | |||||
| Jun 20, 2014 | |||||
| Jun 24, 2013 | |||||
| Jun 26, 2012 | |||||
| Jun 28, 2011 | |||||
| Jun 29, 2010 | |||||
| Jun 23, 2009 | |||||
| Jun 24, 2008 | |||||
| Jun 25, 2007 | |||||
| Jun 28, 2006 | |||||
| Jun 29, 2005 |
Based on: 10-K (reporting date: 2026-04-24), 10-K (reporting date: 2025-04-25), 10-K (reporting date: 2024-04-26), 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27), 10-K (reporting date: 2017-04-28), 10-K (reporting date: 2016-04-29), 10-K (reporting date: 2015-04-24), 10-K (reporting date: 2014-04-25), 10-K (reporting date: 2013-04-26), 10-K (reporting date: 2012-04-27), 10-K (reporting date: 2011-04-29), 10-K (reporting date: 2010-04-30), 10-K (reporting date: 2009-04-24), 10-K (reporting date: 2008-04-25), 10-K (reporting date: 2007-04-27), 10-K (reporting date: 2006-04-28), 10-K (reporting date: 2005-04-29).
Comparison to Sector (Health Care Equipment & Services)
Medtronic PLC, P/E, long-term trends, comparison to sector (health care equipment & services)
| Medtronic PLC | Health Care Equipment & Services | |
|---|---|---|
| Jun 18, 2026 | ||
| Jun 20, 2025 | ||
| Jun 20, 2024 | ||
| Jun 22, 2023 | ||
| Jun 23, 2022 | ||
| Jun 25, 2021 | ||
| Jun 19, 2020 | ||
| Jun 21, 2019 | ||
| Jun 22, 2018 | ||
| Jun 27, 2017 | ||
| Jun 28, 2016 | ||
| Jun 23, 2015 | ||
| Jun 20, 2014 | ||
| Jun 24, 2013 | ||
| Jun 26, 2012 | ||
| Jun 28, 2011 | ||
| Jun 29, 2010 | ||
| Jun 23, 2009 | ||
| Jun 24, 2008 | ||
| Jun 25, 2007 | ||
| Jun 28, 2006 | ||
| Jun 29, 2005 |
Based on: 10-K (reporting date: 2026-04-24), 10-K (reporting date: 2025-04-25), 10-K (reporting date: 2024-04-26), 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27), 10-K (reporting date: 2017-04-28), 10-K (reporting date: 2016-04-29), 10-K (reporting date: 2015-04-24), 10-K (reporting date: 2014-04-25), 10-K (reporting date: 2013-04-26), 10-K (reporting date: 2012-04-27), 10-K (reporting date: 2011-04-29), 10-K (reporting date: 2010-04-30), 10-K (reporting date: 2009-04-24), 10-K (reporting date: 2008-04-25), 10-K (reporting date: 2007-04-27), 10-K (reporting date: 2006-04-28), 10-K (reporting date: 2005-04-29).
Comparison to Industry (Health Care)
Medtronic PLC, P/E, long-term trends, comparison to industry (health care)
| Medtronic PLC | Health Care | |
|---|---|---|
| Jun 18, 2026 | ||
| Jun 20, 2025 | ||
| Jun 20, 2024 | ||
| Jun 22, 2023 | ||
| Jun 23, 2022 | ||
| Jun 25, 2021 | ||
| Jun 19, 2020 | ||
| Jun 21, 2019 | ||
| Jun 22, 2018 | ||
| Jun 27, 2017 | ||
| Jun 28, 2016 | ||
| Jun 23, 2015 | ||
| Jun 20, 2014 | ||
| Jun 24, 2013 | ||
| Jun 26, 2012 | ||
| Jun 28, 2011 | ||
| Jun 29, 2010 | ||
| Jun 23, 2009 | ||
| Jun 24, 2008 | ||
| Jun 25, 2007 | ||
| Jun 28, 2006 | ||
| Jun 29, 2005 |
Based on: 10-K (reporting date: 2026-04-24), 10-K (reporting date: 2025-04-25), 10-K (reporting date: 2024-04-26), 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27), 10-K (reporting date: 2017-04-28), 10-K (reporting date: 2016-04-29), 10-K (reporting date: 2015-04-24), 10-K (reporting date: 2014-04-25), 10-K (reporting date: 2013-04-26), 10-K (reporting date: 2012-04-27), 10-K (reporting date: 2011-04-29), 10-K (reporting date: 2010-04-30), 10-K (reporting date: 2009-04-24), 10-K (reporting date: 2008-04-25), 10-K (reporting date: 2007-04-27), 10-K (reporting date: 2006-04-28), 10-K (reporting date: 2005-04-29).