What is Medtronic's backlog?

Medtronic reported $400M of remaining performance obligations at 31 Jul 2026, flat from a year earlier and flat from the previous quarter. That is 0.0 years of trailing revenue already under contract. Book-to-bill last quarter: 1.00.

Medtronic (MDT) backlog: remaining performance obligations

How much revenue Medtronic already has under contract, how fast it converts, and who it is with.

Data as of 7 Nov 2026.

Open the interactive Backlog view Medtronic competitor analysis

Medtronic reported $400M of remaining performance obligations at 31 Jul 2026, flat from a year earlier and flat from the previous quarter. That is 0.0 years of trailing revenue already under contract. Book-to-bill last quarter: 1.00.
Net new backlog added in the latest quarter: $0.
Customer prepayments (contract liabilities) cover 125.0% of the backlog.
Twelve-month book-to-bill: 1.00, i.e. 1.00 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: -10 points — revenue is catching up with orders.
By backlog size it ranks 332nd among US filers the cockpit tracks.

Medtronic backlog history

Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).

Amounts in USD. Source: SEC XBRL filings.
Quarter end	Backlog (RPO)	TTM revenue	Customer prepayments
31 Jul 2026	$400M	$37.5B	$500M
24 Apr 2026	$400M	$36.4B	$500M
23 Jan 2026	$400M	$35.5B	$468M
24 Oct 2025	$300M	$34.8B	$451M
25 Jul 2025	$400M	$34.2B	$442M
25 Apr 2025	$300M	$33.5B	$446M
24 Jan 2025	$400M	$33.2B	$462M
25 Oct 2024	$400M	$33.0B	$467M
26 Jul 2024	$400M	$32.6B	$461M
26 Apr 2024	$500M	$32.4B	$453M
26 Jan 2024	$500M	$32.3B	$447M
27 Oct 2023	$500M	$32.0B	$435M

Questions

What is Medtronic's backlog?: Medtronic reported $400M of remaining performance obligations at 31 Jul 2026, flat from a year earlier and flat from the previous quarter. That is 0.0 years of trailing revenue already under contract. Book-to-bill last quarter: 1.00.

About these numbers

Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.