Is the business good?
How good a business is MDLN?
Medline Inc. earns 7.5% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
7.5%
Return on invested capital · cost of capital 9.0% · 1.5 points below what the capital costs: growth destroys value
- Operating margin
- 7.1%
Operating margin · Medical Instruments & Supplies median 5.8% · 12 months to Q2 2026
- Cash conversion
- 1.55×
Cash conversion · every dollar of reported profit arrived as cash, and more
- Gross margin
- 27%
Gross margin
| Year | Operating margin |
|---|---|
| FY2023 | 5.4% |
| FY2024 | 8.4% |
| FY2025 | 7.8% |
Details›
- Gross margin12 months to Q2 2026
- 27%
- Operating margin12 months to Q2 2026
- 7.1%
- Net margin12 months to Q2 2026
- 3.6%
- Free cash flow margin
- 5.6%
- Revenue, trailing twelve months
- $28.6B
- Free cash flow, trailing twelve months
- $1.59B
- Net income, trailing twelve months
- $1.03B
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 7.5%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Medical Instruments & Supplies
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