Medline $MDLN Read from its own SEC filings · nothing written, nothing inferred

🫧 Edgar looked up Medline Inc. ($MDLN). Last filing: 8-K (5.02 Departure or Election of Directors; Appointment of Officers), 2026-10-15. 8 event filings (8-K) in the past twelve months.

🔖 Exposure: revenue $28.4B (FY2025), total debt $12.6B. Experience: revenue up 11.5% on the year, up 10.6% a year over 2 years; operating margin 7.8%, down from 8.4%. Soundness: equity 27.9% of assets, return on equity 10.8%. Credibility: 3 audited years, moderate weight. Range: 80% of past cases like this landed between $25.0B and $35.8B next year (method v3, set from 1,471 SEC company-years; on a year the method never saw, 83% landed inside). A statistical range, not company guidance. Against peers (60 filers, $50M+ revenue, surgical & medical instruments & apparatus): operating margin 7.8% against a 1.2% median; growth 11.5% against 11.6%.

Next year, 80%$25.0B–$35.8B
Growth, on the year11.5%
Operating margin7.8%
Equity of assets27.9%
Medline Inc. against its own record and its peers
Operating marginPeer median 1.2%7.8%Revenue, on the yearPeer median 11.6%11.5%Equity of assetsPeer median 52.9%27.9%Return on equityPeer median -2.3%10.8%Gold tick: the median of 55–59 peers with $50M+ revenue in surgical & medical instruments & apparatus

Speed and cash · fiscal 2025

Cash Compass⚡ Fast, cash not yet · growing fast, but little cash arriving so far
Inside viewTurns 6.1% of revenue into operating cash; revenue growing 11.5% a year over three years; no common dividend.
Outside viewAmong $10B+ companies: 24th percentile for cash, 82nd for growth. cash growth

Both views must agree for a label · a description, not advice.

Cash flow (op · inv · fin · free)$1.7B · −$474M · $399M · $1.3B
Investment book (cash · short · long)$1.9B · — · — · current ratio 4.29
Revenue swing · equity of assets1.1% · 27.9%

Medline is growing faster than its size class, with steadier revenue. Its own audited SEC figures.

The figures, as filed

Fiscal year end2025-12-31
Revenue$28.4B
Revenue, on the year11.5%
Revenue, a year over the record10.6%
Operating margin7.8%
Operating margin, prior year8.4%
Net margin4.1%
Research and development$80M · 0.3% of revenue
Total debt$12.6B
Equity of assets27.9%
Return on equity10.8%
Payout of profit—
Dividend per share—
Earnings per share$-0.01
Book value per share$13.26
Revenue per share$35.10
Shares outstanding810,000,000
Audited years read3

Peers: the median of 60 filers with $50M+ revenue in surgical & medical instruments & apparatus.

Classic signals · fiscal 2025Altman Z″ 2.37 grey zone 1968Piotroski F 6 of 9 solid 2000Beneish M -2.39 below the −1.78 line 1999Sloan accruals -1.6% earnings backed by cash 1996DuPont ROE needs net income, revenue and two years of assets and equity

What a terminal subscription used to buy, a filing and arithmetic now give anyone. Published method, from the same filings. Display only: nothing here moves the range or its receipt. Why? →

Health HarborMedline sails as: New ship

Health watch · 12 monthsDirector or officer change ×3

Sailing speed follows growth: 11.5% a year crosses the harbor in 46 seconds.

🌊 Visit the Bay →

No warning signs on the measures below.

Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider. A picture of the signs, not a rating and not investment advice.

Recent filings

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price. Reporting, not investment advice. No price targets and no trading recommendations. Figures from the SEC’s own data · every filing · this page as JSON · ask about another company

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