MDLN on Nasdaq

Medline Inc.

American surgical and medical instruments and apparatus company.

$35.92 down 0.65 (1.78%)Price as of Oct 16, 2026 at 19:58 UTC

Last updated Oct 18, 2026.

Overview

$28.4BRevenue, fiscal 20253
$1.2BNet income, fiscal 20253

Compare with Stryker Corporation, 3M or Becton Dickinson, or pick any stock.

  • TickerMDLN on Nasdaq
  • IndustrySurgical & Medical Instruments & Apparatus
  • HeadquartersNorthfield, United States
  • Incorporated inDE4
  • Business address3 Lakes Drive, Northfield, Il 600934
  • Filer categoryNon-accelerated filer4

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

26.4%Gross margin3
7.8%Operating margin3
4.1%Net margin3
11.5%Revenue growth, 20253
10.8%Return on equity3
1.16×Debt to equity3
$1.3BFree cash flow3

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue74¢$20.9B
  • Research and development0¢$80.0M
  • Selling, general and admin16¢$4.5B
  • Other costs6¢$1.7B
  • Income tax0¢$91.0M
  • Profit4¢$1.2B

Out of $28.4B in revenue.3

Where each dollar of operating cash went, fiscal 2025

  • Capital spending26¢$447.0M
  • Share buybacks2¢$33.0M
  • Kept or used elsewhere72¢$1.3B

Out of $1.7B of cash from operations.3

Financial statements

Revenue3$28.4B in 2025+22% since 2023
0$10.0B$20.0B$30.0B2023: $23.2B$23.2B20232024: $25.5B$25.5B2024+10%2025: $28.4B$28.4B2025+11%
Gross profit3$7.5B in 2025+28% since 2023
0$2.0B$4.0B$6.0B$8.0B2023: $5.9B$5.9B20232024: $7.0B$7.0B2024+19%2025: $7.5B$7.5B2025+8%
Operating income3$2.2B in 2025+77% since 2023
0$1.0B$2.0B$3.0B2023: $1.2B$1.2B20232024: $2.1B$2.1B2024+72%2025: $2.2B$2.2B2025+3%
Net income3$1.2B in 2025+395% since 2023
0$500.0M$1.0B$1.5B2023: $234.0M$234.0M20232024: $1.2B$1.2B2024+397%2025: $1.2B$1.2B2025−0%
Fiscal year2022202320242025
Revenue$23.2B3$25.5B3$28.4B3
Cost of revenue$17.3B3$18.5B3$20.9B3
Gross profit$5.9B3$7.0B3$7.5B3
Research and development$60.0M3$67.0M3$80.0M3
Selling, general and admin$3.9B3$4.1B3$4.5B3
Operating income$1.2B3$2.1B3$2.2B3
Income tax$30.0M3$46.0M3$91.0M3
Net income$234.0M3$1.2B3$1.2B3
Earnings per share-$0.013
Earnings per share (diluted)-$0.013

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Leadership

Who has led Medline Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. James M. Boyle2025–now

President

  1. James M. Pigott2025–now

Chief financial officer

  1. Michael B. Drazin2025–now
Board members and other officers (16)

Timeline

  1. Dec 17, 2025New chief executive James M. Boyle becomes CEO7
  2. Nov 6, 2024Founded Medline Inc. is founded25

Filings

152 filings to the SEC since October 2021: 1 annual reports, 2 quarterly reports, 8 major events, 98 insider forms, 11 large holders, 32 other. The latest 20:

  1. Oct 15, 20268-K EDGAR
  2. Oct 13, 20264 EDGAR
  3. Oct 6, 20264 EDGAR
  4. Aug 21, 20264 EDGAR
  5. Aug 21, 20264 EDGAR
  6. Aug 17, 20264 EDGAR
  7. Aug 11, 2026SCHEDULE 13G/A EDGAR
  8. Aug 11, 20264 EDGAR
  9. Aug 7, 2026SCHEDULE 13G/A EDGAR
  10. Aug 7, 20264 EDGAR
  11. Aug 7, 20264 OWNERSHIP DOCUMENT EDGAR
  12. Aug 6, 2026SCHEDULE 13G EDGAR
  13. Aug 5, 202610-Q EDGAR
  14. Aug 5, 20268-K EDGAR
  15. Jul 9, 20268-K EDGAR
  16. Jun 17, 20264 EDGAR
  17. Jun 17, 20264 EDGAR
  18. Jun 17, 20264 EDGAR
  19. Jun 17, 20264 EDGAR
  20. Jun 17, 20264 EDGAR

The 152 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 11 such filings since October 2021, the latest 10:

  1. Aug 11, 2026SCHEDULE 13G/A
  2. Aug 7, 2026SCHEDULE 13G/A
  3. Aug 6, 2026SCHEDULE 13G
  4. May 7, 2026SCHEDULE 13G/A
  5. May 6, 2026SCHEDULE 13G/A
  6. May 1, 2026SCHEDULE 13G/A
  7. Feb 13, 2026SCHEDULE 13G
  8. Feb 13, 2026SCHEDULE 13G
  9. Feb 13, 2026SCHEDULE 13G
  10. Feb 11, 2026SCHEDULE 13G

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Carlyle Group Inc.187,083,713$7.4B73.8%No change
H&F Corporate Investors X, Ltd.70,874,326$2.8B100.0%−15,599,171
Fmr LLC46,963,203$1.9B0.1%+10,407,002
Capital Research Global Investors39,963,790$1.6B0.2%+16,802,120
Invesco Ltd.38,346,937$1.5B0.1%+17,383,322
BlackRock, Inc.26,393,587$1.0B0.0%+9,469,927
Morgan Stanley21,605,662$852.1M0.0%+5,902,759
Lone Pine Capital LLC20,968,367$827.0M5.1%+9,179,211
Massachusetts Financial Services Co /ma/19,888,806$787.1M0.3%+8,319,490
Vanguard Capital Management LLC17,816,057$702.7M0.0%+3,086,376
Vanguard Portfolio Management LLC16,781,031$661.8M0.0%+2,630,279
Egerton Capital (UK) LLP16,470,884$649.6M6.3%+12,105,082
Jupiter Topco LLC15,858,400$625.4M0.3%New
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main11,956,905$471.6M0.4%+7,572,176
Baillie Gifford & Co11,343,036$447.4M0.4%+1,367,261
Norges Bank8,475,413$334.3M0.0%New
State Street Corp8,447,035$333.2M0.0%+3,624,652
Geode Capital Management, LLC7,948,506$312.7M0.0%+1,690,234
SurgoCap Partners LP7,487,507$295.3M9.5%+1,412,342
Wcm Investment Management, LLC7,397,650$293.0M0.5%+178,919
Healthcare Of Ontario Pension Plan Trust Fund7,355,574$290.1M0.4%+2,355,574
Banque Pictet & Cie Sa7,312,150$288.4M3.0%+5,891,183
Alyeska Investment Group, L.P.6,809,122$268.6M0.7%+3,871,733
UBS Group AG6,431,013$253.6M0.0%+3,239,352
Viking Global Investors LP4,841,080$190.9M0.5%−6,592,912

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

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