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InMode vs Medtronic: revenue, profit, margins and growth compared

InMode brought in $370.5M of revenue in fiscal 2025, Medtronic $36.4B in fiscal 2026. Revenue changed by -6.2% at InMode and +8.4% at Medtronic on the year before, so Medtronic grew faster. InMode kept 25.3% of its revenue as net profit, Medtronic 13.2%. Free cash flow was $84.3M at InMode and $5.4B at Medtronic.

Side by side, latest fiscal year

INMDMDT
Fiscal year endedFY2025 (December 31, 2025)FY2026 (April 24, 2026)
Revenue$370.5M$36.4B
Revenue growth-6.2%+8.4%
Net income$93.8M$4.8B
Net margin25.3%13.2%
Free cash flow$84.3M$5.4B
Free cash flow margin22.7%14.9%
Earnings per share (diluted)$1.43$3.73
Cash$302.5M$1.9B
Debtn/a$26.2B
Price to earningsn/a23.8
Market value$903.5M$113.5B
Dividend yieldn/a3.20%
Rank by revenue in sector#211 of 523 · Health care#21 of 523 · Health care

Over the years

Revenue
INMD FY2019: $100.2MINMD FY2019: $156.4MINMD FY2020: $206.1MINMD FY2021: $357.6MINMD FY2022: $454.3MINMD FY2023: $492MINMD FY2024: $394.8MINMD FY2025: $370.5MMDT FY2019: $30.6BMDT FY2020: $28.9BMDT FY2021: $30.1BMDT FY2022: $31.7BMDT FY2023: $31.2BMDT FY2024: $32.4BMDT FY2025: $33.5BMDT FY2026: $36.4BFY19FY20FY21FY22FY23FY24FY25FY26
INMD $370.5MMDT $36.4B
Net income
INMD FY2019: $22.4MINMD FY2019: $61.1MINMD FY2020: $75MINMD FY2021: $165MINMD FY2022: $161.5MINMD FY2023: $197.9MINMD FY2024: $181.3MINMD FY2025: $93.8MMDT FY2019: $4.6BMDT FY2020: $4.8BMDT FY2021: $3.6BMDT FY2022: $5BMDT FY2023: $3.8BMDT FY2024: $3.7BMDT FY2025: $4.7BMDT FY2026: $4.8BFY19FY20FY21FY22FY23FY24FY25FY26
INMD $93.8MMDT $4.8B
Net margin
INMD FY2019: 22.3%INMD FY2019: 39.1%INMD FY2020: 36.4%INMD FY2021: 46.1%INMD FY2022: 35.6%INMD FY2023: 40.2%INMD FY2024: 45.9%INMD FY2025: 25.3%MDT FY2019: 15.2%MDT FY2020: 16.6%MDT FY2021: 12.0%MDT FY2022: 15.9%MDT FY2023: 12.0%MDT FY2024: 11.4%MDT FY2025: 13.9%MDT FY2026: 13.2%FY19FY20FY21FY22FY23FY24FY25FY26
INMD 25.3%MDT 13.2%
Revenue growth
INMD FY2019: +56.1%INMD FY2020: +31.8%INMD FY2021: +73.5%INMD FY2022: +27.0%INMD FY2023: +8.3%INMD FY2024: -19.8%INMD FY2025: -6.2%MDT FY2020: -5.4%MDT FY2021: +4.2%MDT FY2022: +5.2%MDT FY2023: -1.4%MDT FY2024: +3.6%MDT FY2025: +3.6%MDT FY2026: +8.4%FY19FY20FY21FY22FY23FY24FY25FY26
INMD -6.2%MDT +8.4%
Free cash flow
INMD FY2019: $36.5MINMD FY2019: $61.5MINMD FY2020: $78.8MINMD FY2021: $173.9MINMD FY2022: $180MINMD FY2023: $176.1MINMD FY2024: $132MINMD FY2025: $84.3MMDT FY2019: $5.9BMDT FY2020: $6BMDT FY2021: $4.9BMDT FY2022: $6BMDT FY2023: $4.6BMDT FY2024: $5.2BMDT FY2025: $5.2BMDT FY2026: $5.4BFY19FY20FY21FY22FY23FY24FY25FY26
INMD $84.3MMDT $5.4B

Fiscal years as each company reports them; the two may end in different months.

Questions about InMode and Medtronic

Which is bigger by revenue, InMode or Medtronic?

Medtronic is bigger by revenue: $36.4B in fiscal 2026, against $370.5M for InMode in fiscal 2025.

Which keeps more of its revenue as profit, InMode or Medtronic?

InMode had a net margin of 25.3% in fiscal 2025; Medtronic had 13.2% in fiscal 2026.

Which grew revenue faster, InMode or Medtronic?

In their latest fiscal years revenue changed by -6.2% at InMode and +8.4% at Medtronic.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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