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MiniMed Group, Inc. (MMED) Financials

MMED
FY2026 annual
Revenue $3.1B +14.3% YoY
Net Income -$333.0M n/m YoY
EPS (Diluted) -$1.30 n/m YoY
Free Cash Flow -$420.0M n/m YoY
Market Cap $5.2B as of Oct 23, 2026
Price / Sales 1.7x on $3.1B revenue, FY2026
Price / Earnings n/m net loss, so no earnings multiple, FY2026
Price / Book 1.4x on $3.6B equity, Q1 FY2027

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 23, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q1 FY2027, ended Jul 31, 2026 Reported Currency USD FYE April

Newest figures come from the S-4 for Q1 FY2027, filed Sep 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the MMED SEC filings page.

MiniMed Group, Inc. (MMED) reported $3.1B in revenue for fiscal year 2026, up 14.3% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI MMED FY2026

Revenue is growing, but faster production costs and rising reinvestment are pushing the business further from self-funded operations.

Revenue rose 14.3% from FY2025 to FY2026 while gross margin fell 2.1 percentage points, so growth is arriving with weaker unit economics. Operating cash flow moved from $140M to -$197M, making that growth internally cash-consuming rather than self-financing.

The current ratio rose from 1.3x to 1.9x, giving the business more near-term balance-sheet flexibility, but that is a liquidity improvement rather than evidence of improving profitability. Liabilities rose from 20.7% to 22.0% of assets, so liquidity improved without making the capital structure materially lighter.

FY2026 financing cash flow was $716M while free cash flow was -$420M, indicating external funding bridged a cash gap that internal operations did not cover. SG&A stood at 38.1% of revenue and R&D at 14.4%, showing that operating pressure is spread across overhead and development rather than concentrated in one category.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity CashFlow Returns 49 / 100
Financial Health Score 49/100

Scored against operating companies for FY2026. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of MiniMed Group, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability
36

MiniMed Group, Inc. has an operating margin of -6.1%, meaning the company loses $6 on every $100 of revenue. This results in a profitability score of 36/100. This is down from -5.4% the prior year.

Growth
70

MiniMed Group, Inc.'s revenue grew 14.3% year-over-year to $3.1B, a solid pace of expansion. This earns a growth score of 70/100.

Leverage
70
Liquidity
56

MiniMed Group, Inc.'s current ratio of 1.92 indicates adequate short-term liquidity, earning a score of 56/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
14

MiniMed Group, Inc.'s operations used $197.0M of cash, and capex of $223.0M added to the outflow, for a free cash flow shortfall of $420.0M. This results in a cash flow score of 14/100.

Returns
45

MiniMed Group, Inc. posts a -9.2% return on equity (ROE), meaning it loses $9 for every $100 of shareholders' equity. This results in a returns score of 45/100. This is down from -6.4% the prior year.

Altman Z-Score Safe
3.71

MiniMed Group, Inc. scores 3.71, well above the 2.99 safe threshold. The largest contribution to the score comes from a market capitalization of $5.2B against total liabilities of $1.0B. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial
3/7

MiniMed Group, Inc. passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, 1 of 2 operating efficiency signals passes.

Earnings Quality No Cash Backing
N/A

MiniMed Group, Inc. reported a net loss of $333.0M while operations used $197.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

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Earnings & Revenue

Revenue
$843.0M
YoY+16.6%

MiniMed Group, Inc. generated $843.0M in revenue in Q1 2027. This represents an increase of 16.6% from the same quarter a year earlier.

EBITDA
$46.0M
YoY+76.9%

MiniMed Group, Inc.'s EBITDA was $46.0M in Q1 2027, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 76.9% from the same quarter a year earlier.

Net Income
$0
YoYn/m

MiniMed Group, Inc. reported $0 in net income in Q1 2027. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative.

EPS (Diluted)
$0.00
YoYn/m
QoQn/m

MiniMed Group, Inc. earned $0.00 per diluted share (EPS) in Q1 2027. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

Cash & Balance Sheet

Free Cash Flow
-$90.0M
YoYn/m
QoQn/m

MiniMed Group, Inc. recorded an outflow of $90.0M in free cash flow in Q1 2027, representing a cash shortfall after capex. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

Cash & Debt
$207.0M
YoY+2200.0%
QoQ-30.5%

MiniMed Group, Inc. held $207.0M in cash as of Q1 2027; no long-term debt figure is on record for that period.

Shares Outstanding
281M
QoQ+0.2%

MiniMed Group, Inc. had 281M shares outstanding in Q1 2027. Against the prior quarter it is up 0.2%.

Dividends Per Share

Not reported for Q1 2027.

Margins & Returns

Gross Margin
55.2%
YoY-1.4pp

MiniMed Group, Inc.'s gross margin was 55.2% in Q1 2027, indicating the percentage of revenue retained after direct costs. This is down 1.4 percentage points from the same quarter a year earlier.

Operating Margin
0.6%
YoY+2.4pp

MiniMed Group, Inc.'s operating margin was 0.6% in Q1 2027, reflecting core business profitability. This is up 2.4 percentage points from the same quarter a year earlier.

Net Margin
0.0%
YoY+2.6pp

MiniMed Group, Inc.'s net profit margin was 0.0% in Q1 2027, showing the share of revenue converted to profit. This is up 2.6 percentage points from the same quarter a year earlier.

Return on Equity
0.0%
YoY+0.5pp

MiniMed Group, Inc.'s quarterly ROE was 0.0% in Q1 2027: one quarter's net income over shareholder equity, not annualized. This is up 0.5 percentage points from the same quarter a year earlier.

Capital Allocation

R&D Spending
$115.0M
YoY-8.0%

MiniMed Group, Inc. invested $115.0M in research and development in Q1 2027. This represents a decrease of 8.0% from the same quarter a year earlier.

Capital Expenditures
$41.0M
YoY-22.6%
QoQ-26.8%

MiniMed Group, Inc. invested $41.0M in capex in Q1 2027, funding long-term assets and infrastructure. This represents a decrease of 22.6% from the same quarter a year earlier. Against the prior quarter it is down 26.8%.

Share Buybacks

Not reported for Q1 2027.

MMED Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

MMED quarterly income statement
MetricQ1'27S-4Q4'26S-4Q3'2610-QQ2'2610-QQ1'26S-4Q4'25S-4Q3'2510-QQ2'2510-Q
Revenue$843.0M+16.6%N/A$790.0M+15.0%N/A$723.0MN/A$687.0MN/A
Cost of Revenue$378.0M+20.4%N/A$428.0M+46.6%N/A$314.0MN/A$292.0MN/A
Gross Profit$465.0M+13.7%N/A$362.0M-8.4%N/A$409.0MN/A$395.0MN/A
R&D Expenses$115.0M-8.0%N/A$114.0M+1.8%N/A$125.0MN/A$112.0MN/A
SG&A Expenses$312.0M+10.2%N/A$309.0M+15.3%N/A$283.0MN/A$268.0MN/A
Operating Income$5.0Mn/mN/A-$100.0M-576.2%N/A-$13.0MN/A$21.0MN/A
EBITDA$46.0M+76.9%N/AN/AN/A$26.0MN/AN/AN/A
Income Tax$4.0M+33.3%N/A$12.0M-57.1%N/A$3.0MN/A$28.0MN/A
Net Income$0n/mN/A-$119.0Mn/m-$5.0Mn/m-$19.0Mn/mN/A-$10.0M-$5.0M
EPS (Basic)$0.00n/m-$0.71n/m-$0.47n/mN/A-$0.08-$0.68-$0.04N/A
EPS (Diluted)$0.00n/m-$0.71n/m-$0.47n/mN/A-$0.08-$0.68-$0.04N/A
Diluted Shares (Avg)281M+11.2%N/A253M0.0%N/A253MN/A253MN/A

Not reported in any period shown, so not listed: Interest Expense.

MMED Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

MMED quarterly balance sheet
MetricQ1'27S-4Q4'26S-4Q3'2610-QQ2'2610-QQ1'26S-4Q4'25S-4Q3'2510-QQ2'2510-Q
Total Assets$4.7B$4.6B+10.2%$4.3BN/AN/A$4.2BN/AN/A
Current Assets$1.4B$1.3B+43.6%$1.1BN/AN/A$939.0MN/AN/A
Cash & Equivalents$207.0M+2200.0%$298.0M+2609.1%$10.0M0.0%N/A$9.0M$11.0M$10.0MN/A
Short-Term Investments$0n/m$0n/m$0n/mN/A$0$0$0N/A
Inventory$356.0M$341.0M+9.6%$408.0MN/AN/A$311.0MN/AN/A
Accounts Receivable$180.0M$200.0M-64.9%$653.0MN/AN/A$570.0MN/AN/A
Long-Term Investments$0n/m$0n/m$0n/mN/A$0$0$0N/A
Goodwill$2.3B$2.3B0.0%$2.3BN/AN/A$2.3BN/AN/A
Total Liabilities$1.1B$1.0B+17.0%$881.0MN/AN/A$871.0MN/AN/A
Current Liabilities$782.0M$702.0M-1.1%$696.0MN/AN/A$710.0MN/AN/A
Non-Current Liabilities$316.0M$317.0M+96.9%$185.0MN/AN/A$161.0MN/AN/A
Total Equity$3.6B+2.3%$3.6B+8.4%$3.5B-0.7%$3.6B+2.8%$3.5B+1.6%$3.3B$3.5B$3.5B
Retained Earnings-$116.0M-$116.0Mn/mN/AN/AN/A$0N/AN/A

Not reported in any period shown, so not listed: Long-Term Debt.

MMED Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

MMED quarterly cash flow statement
MetricQ1'27S-4Q4'26S-4Q3'2610-QQ2'2610-QQ1'26S-4Q4'25S-4Q3'2510-QQ2'2510-Q
Operating Cash Flow-$49.0Mn/m-$170.0M-304.8%N/AN/A-$141.0M$83.0MN/AN/A
Depreciation & Amortization$41.0M+5.1%$39.0M+2.6%N/AN/A$39.0M$38.0MN/AN/A
Stock-Based Compensation$10.0M+11.1%N/A$11.0M0.0%N/A$9.0MN/A$11.0MN/A
Capital Expenditures$41.0M-22.6%$56.0M-1.8%N/AN/A$53.0M$57.0MN/AN/A
Free Cash Flow-$90.0Mn/m-$226.0M-969.2%N/AN/A-$194.0M$26.0MN/AN/A
Investing Cash Flow-$41.0Mn/m-$56.0Mn/mN/AN/A-$63.0M-$57.0MN/AN/A
Financing Cash Flow$0-100.0%$512.0Mn/mN/AN/A$202.0M-$25.0MN/AN/A

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

MMED Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

MMED quarterly financial ratios
MetricQ1'27S-4Q4'26S-4Q3'2610-QQ2'2610-QQ1'26S-4Q4'25S-4Q3'2510-QQ2'2510-Q
Gross Margin55.2%-1.4ppN/A45.8%-11.7ppN/A56.6%N/A57.5%N/A
Operating Margin0.6%+2.4ppN/A-12.7%-15.7ppN/A-1.8%N/A3.1%N/A
Net Margin0.0%+2.6ppN/A-15.1%-13.6ppN/A-2.6%N/A-1.5%N/A
Return on Equity0.0%+0.5ppN/A-3.4%-3.1pp-0.1%0.0pp-0.5%0.0ppN/A-0.3%-0.1%
Return on Assets0.0%N/A-2.7%N/AN/AN/AN/AN/A
Current Ratio1.811.92+0.6x1.59N/AN/A1.32N/AN/A
Liabilities-to-Equity0.300.280.0x0.25N/AN/A0.26N/AN/A
Asset Turnover0.18N/A0.18N/AN/AN/AN/AN/A
FCF Margin-10.7%+16.1ppN/AN/AN/A-26.8%N/AN/AN/A

Not reported in any period shown, so not listed: Debt-to-Equity.

Frequently Asked Questions

What is MiniMed Group, Inc.'s annual revenue?

MiniMed Group, Inc. (MMED) reported $3.1B in total revenue for fiscal year 2026. This represents a 14.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is MiniMed Group, Inc.'s revenue growing?

MiniMed Group, Inc. (MMED) revenue grew by 14.3% year-over-year, from $2.7B to $3.1B in fiscal year 2026.

Is MiniMed Group, Inc. profitable?

No, MiniMed Group, Inc. (MMED) reported a net loss of $333.0M in fiscal year 2026, with a net profit margin of -10.7%.

MiniMed Group, Inc. (MMED) reported diluted earnings per share of -$1.30 for fiscal year 2026. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

MiniMed Group, Inc. (MMED) had EBITDA of -$34.0M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.

MiniMed Group, Inc. (MMED) had a gross margin of 54.2% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.

MiniMed Group, Inc. (MMED) had an operating margin of -6.1% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.

MiniMed Group, Inc. (MMED) had a net profit margin of -10.7% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

MiniMed Group, Inc. (MMED) has a return on equity of -9.2% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

MiniMed Group, Inc. (MMED) recorded an outflow of $420.0M in free cash flow during fiscal year 2026. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

MiniMed Group, Inc. (MMED) recorded an outflow of $197.0M in operating cash flow during fiscal year 2026, representing cash used by core business activities.

MiniMed Group, Inc. (MMED) had $4.6B in total assets as of fiscal year 2026, including both current and long-term assets.

MiniMed Group, Inc. (MMED) invested $223.0M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

MiniMed Group, Inc. (MMED) invested $448.0M in research and development during fiscal year 2026.

MiniMed Group, Inc. (MMED) had 281M shares outstanding as of fiscal year 2026.

MiniMed Group, Inc. (MMED) had a current ratio of 1.92 as of fiscal year 2026, which is generally considered healthy.

MiniMed Group, Inc. (MMED) had a liabilities-to-equity ratio of 0.28 as of fiscal year 2026, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2026, because the filing data we hold for that year carries no long-term debt figure.

MiniMed Group, Inc. (MMED) had a return on assets of -7.2% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

MiniMed Group, Inc. (MMED) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2026). The market capitalization is $5.2B as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

MiniMed Group, Inc. (MMED) trades at 1.7x sales, its market capitalization divided by $3.1B revenue, FY2026. The market capitalization is $5.2B as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

At the end of fiscal year 2026, MiniMed Group, Inc. (MMED) held $298.0M in cash, cash equivalents and investments, and reported an operating cash outflow of $197.0M over that year. Dividing the one by the other, the reported balance equals about 18 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

MiniMed Group, Inc. (MMED) has an Altman Z-Score of 3.71, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

MiniMed Group, Inc. (MMED) has a Piotroski F-Score of 3 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

MiniMed Group, Inc. (MMED) reported a net loss of $333.0M while operations used $197.0M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

MiniMed Group, Inc. (MMED) scores 49 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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