Medline Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Medline Inc. reported revenue of $28.4B and net income of $1.2B.
| Line item | Dec 31, 2025 · FY |
|---|---|
| Net sales | $28.4B |
| Cost of goods sold | $20.9B |
| Gross profit | $7.5B |
| Selling, general and administrative expenses | $4.5B |
| Amortization of intangible assets | $704.0M |
| Other operating expenses | $78.0M |
| Total operating expense | $5.3B |
| Operating income | $2.2B |
| Interest expense, net | ($812.0M) |
| Other (expense) income, net | ($64.0M) |
| Foreign exchange (loss) gain, net | ($88.0M) |
| Total other expense | ($964.0M) |
| Income before income taxes | $1.2B |
| Provision for income taxes | $91.0M |
| Net income | $1.2B |
| Net loss attributable to noncontrolling interests | ($2.0M) |
| Net income attributable to Medline Inc. | $1.2B |
| Basic (in dollars per share) | -$0.01 |
| Diluted (in dollars per share) | -$0.01 |
| Basic (in shares) | 810.0M |
| Diluted (in shares) | 810.0M |
| Retirement plan, net of tax | ($8.0M) |
| Net unrealized loss on derivative instruments | ($89.0M) |
| Currency translation adjustment | $129.0M |
| Total other comprehensive income (loss), net of tax | $32.0M |
| Total comprehensive income | $1.2B |
| Comprehensive loss attributable to noncontrolling interests | ($2.0M) |
| Comprehensive income attributable to Medline Inc. | $1.2B |
| Line item | Jun 27, 2026 · Q2 | Mar 28, 2026 · Q1 |
|---|---|---|
| Net sales | $7.7B | $7.4B |
| Cost of goods sold | $5.5B | $5.5B |
| Gross profit | $2.2B | $1.8B |
| Selling, general and administrative expenses | $1.3B | $1.2B |
| Amortization of intangible assets | $177.0M | $176.0M |
| Other operating expenses | $348.0M | $15.0M |
| Total operating expense | $1.8B | $1.4B |
| Operating income | $395.0M | $422.0M |
| Interest expense, net | ($119.0M) | ($136.0M) |
| Other loss, net | ($42.0M) | $1.0M |
| Foreign exchange gain (loss), net | $1.0M | $4.0M |
| Total other expense | ($160.0M) | ($131.0M) |
| Income before income taxes | $235.0M | $291.0M |
| Provision for income taxes | $96.0M | $52.0M |
| Net income | $139.0M | $239.0M |
| Net income attributable to noncontrolling interests | $79.0M | $110.0M |
| Net income attributable to Medline Inc. | $60.0M | $129.0M |
| Basic (in dollars per share) | $0.07 | $0.16 |
| Diluted (in dollars per share) | $0.07 | $0.16 |
| Basic (in shares) | 856.7M | 819.1M |
| Diluted (in shares) | 860.9M | 824.8M |
| Net unrealized loss on derivative instruments | ($9.0M) | ($3.0M) |
| Currency translation adjustment | ($28.0M) | ($11.0M) |
| Total other comprehensive (loss) income, net of tax | ($37.0M) | ($14.0M) |
| Total comprehensive income | $102.0M | $225.0M |
| Comprehensive income attributable to noncontrolling interests | $66.0M | $105.0M |
| Comprehensive income attributable to Medline Inc. | $36.0M | $120.0M |
| Line item | Dec 31, 2025 · FY |
|---|---|
| Cash and cash equivalents | $1.9B |
| Trade accounts receivable, net of allowance for credit losses of $152 and $108 as of December 31, 2025 and 2024, respectively | $3.5B |
| Inventories | $4.8B |
| Other current assets | $438.0M |
| Total current assets | $10.7B |
| Property, plant, and equipment, net | $4.8B |
| Goodwill | $8.1B |
| Intangible assets, net | $13.9B |
| Deferred tax assets | $583.0M |
| Other long-term assets | $472.0M |
| Total other non-current assets | $23.0B |
| Total assets | $38.5B |
| Current portion of long-term borrowings and other short-term borrowings | $77.0M |
| Accounts payable | $961.0M |
| Accrued expenses and other current liabilities | $1.5B |
| Total current liabilities | $2.5B |
| Long-term borrowings, less current portion | $12.5B |
| Tax receivable agreement liability | $3.5B |
| Other long-term liabilities | $682.0M |
| Total non-current liabilities | $16.7B |
| Total liabilities | $19.2B |
| Mezzanine equity | $0 |
| Common stock | $0 |
| Preferred stock | $0 |
| Additional paid-in capital | $10.7B |
| Accumulated deficit | ($7.0M) |
| Accumulated other comprehensive income | $27.0M |
| Total Medline Inc. stockholders’ equity | $10.7B |
| Partners' capital | $0 |
| Noncontrolling interests | $8.5B |
| Total stockholders’ equity / partners’ capital | $19.3B |
| Total liabilities, stockholders’ equity and mezzanine equity / partners’ capital | $38.5B |
| Line item | Jun 27, 2026 | Mar 28, 2026 |
|---|---|---|
| Cash and cash equivalents | $2.3B | $2.2B |
| Trade accounts receivable, net of allowance for credit losses of $148 and $152 as of June 27, 2026 and December 31, 2025, respectively | $3.7B | $3.7B |
| Inventories | $4.7B | $4.8B |
| Short-term investments | $350.0M | — |
| Other current assets | $739.0M | $463.0M |
| Total current assets | $11.7B | $11.2B |
| Property, plant, and equipment, net | $4.7B | $4.8B |
| Goodwill | $8.1B | $8.1B |
| Intangible assets, net | $13.5B | $13.7B |
| Deferred tax assets | $866.0M | $837.0M |
| Other long-term assets | $435.0M | $446.0M |
| Total other non-current assets | $22.9B | $23.1B |
| Total assets | $39.4B | $39.0B |
| Current portion of long-term borrowings and other short-term borrowings | $29.0M | $77.0M |
| Accounts payable | $1.0B | $932.0M |
| Accrued expenses and other current liabilities | $1.6B | $1.5B |
| Total current liabilities | $2.7B | $2.5B |
| Long-term borrowings, less current portion | $12.5B | $12.5B |
| Tax receivable agreement liability | $4.4B | $4.0B |
| Other long-term liabilities | $623.0M | $625.0M |
| Total non-current liabilities | $17.6B | $17.1B |
| Total liabilities | $20.3B | $19.7B |
| Common stock | $0 | $0 |
| Preferred stock | $0 | $0 |
| Additional paid-in capital | $11.4B | $11.1B |
| Retained earnings (accumulated deficit) | $182.0M | $122.0M |
| Accumulated other comprehensive (loss) income | ($6.0M) | $18.0M |
| Total Medline Inc. stockholders’ equity | $11.6B | $11.3B |
| Noncontrolling interests | $7.5B | $8.1B |
| Total stockholders’ equity | $19.1B | $19.3B |
| Total liabilities and stockholders’ equity | $39.4B | $39.0B |
| Line item | Dec 31, 2025 · FY |
|---|---|
| Net income | $1.2B |
| Depreciation and amortization | $1.0B |
| Stock-based compensation expense | $76.0M |
| Amortization of deferred financing costs | $59.0M |
| Embedded derivative on debt | ($41.0M) |
| Credit losses | $54.0M |
| Unrealized foreign exchange loss (gain), net | $68.0M |
| Amortization of inventory step-up | $0 |
| Loss on extinguishment of debt | $58.0M |
| Non-cash lease expense | $72.0M |
| Other non-cash adjustments | $13.0M |
| Trade accounts receivable | ($355.0M) |
| Inventories | ($264.0M) |
| Other assets | ($126.0M) |
| Accounts payable | $73.0M |
| Accrued expenses and other current liabilities | ($92.0M) |
| Other liabilities | ($19.0M) |
| Net cash provided by operating activities | $1.7B |
| Purchases of property and equipment, net | ($447.0M) |
| Acquisitions of businesses, net of cash acquired | $6.0M |
| Cash paid for asset acquisitions | ($33.0M) |
| Other investing activities | $0 |
| Net cash used in investing activities | ($474.0M) |
| Proceeds from issuance of Class A common stock in initial public offering, net of underwriting discounts and commissions | $7.0B |
| Purchase of Class A common stock and redemptions of Common Units from Pre-IPO owners | ($2.0B) |
| Payment for offering costs | ($36.0M) |
| Proceeds from long-term borrowings | $7.6B |
| Repayment for long-term borrowings | ($11.7B) |
| Repayments under lines of credit | ($179.0M) |
| Proceeds from lines of credit | $179.0M |
| Payment for debt issuance cost | $0 |
| Payment towards Class B unit repurchases | ($33.0M) |
| Distributions to partners | ($518.0M) |
| Net cash provided by (used in) financing activities | $399.0M |
| Effect of exchange rate changes on cash and cash equivalents and restricted cash | $23.0M |
| Net change in cash and cash equivalents and restricted cash | $1.7B |
| Cash, cash equivalents and restricted cash, beginning of year | $250.0M |
| Cash, cash equivalents and restricted cash, end of year | $1.9B |
| Cash payments for interest on borrowings | $944.0M |
| Cash received from interest rate hedging activities | $89.0M |
| Cash payments for income taxes, net | $62.0M |
| Operating cash flows paid for operating leases | $109.0M |
| Right-of-use operating lease assets obtained in exchange for lease obligations | $115.0M |
| Non-cash purchases of property, plant and equipment | $58.0M |
| Recognition of tax receivable agreement liability | $3.5B |
| Line item | Jun 27, 2026 · YTD | Mar 28, 2026 · Q1 |
|---|---|---|
| Net income | $378.0M | $239.0M |
| Depreciation and amortization | $510.0M | $254.0M |
| Stock-based compensation expense | $52.0M | $23.0M |
| Amortization of deferred financing costs | $24.0M | $11.0M |
| Deferred taxes | $101.0M | $37.0M |
| Credit losses | $7.0M | $1.0M |
| Unrealized foreign exchange (gain) loss, net | ($17.0M) | ($12.0M) |
| Loss on extinguishment of debt | $23.0M | — |
| Non-cash lease expense | $35.0M | $17.0M |
| Fire at distribution center | $320.0M | — |
| Other non-cash adjustments | $18.0M | $3.0M |
| Trade accounts receivable | ($148.0M) | ($146.0M) |
| Inventories | ($116.0M) | ($42.0M) |
| Other assets | ($297.0M) | ($19.0M) |
| Accounts payable | $89.0M | $6.0M |
| Accrued expenses and other current liabilities | $191.0M | $72.0M |
| Other liabilities | ($43.0M) | ($32.0M) |
| Net cash provided by operating activities | $1.1B | $412.0M |
| Purchases of property and equipment, net | ($207.0M) | ($96.0M) |
| Acquisitions of businesses, net of cash acquired | $0 | $0 |
| Cash paid for asset acquisitions | $0 | — |
| Short-term investments | ($350.0M) | — |
| Net cash used in investing activities | ($557.0M) | ($96.0M) |
| Proceeds from long-term borrowings | $4.7B | — |
| Repayment for long-term borrowings | ($4.8B) | — |
| Repayment under lines of credit | $0 | $0 |
| Proceeds from lines of credit | $0 | $0 |
| Payment for debt issuance cost | ($3.0M) | — |
| Payment for offering costs | ($4.0M) | ($3.0M) |
| Payment towards Class B unit repurchases | $0 | $0 |
| Exercise of employee stock options | 1.0M | — |
| Settlement of taxes withheld on stock-based awards | ($5.0M) | — |
| Distributions to partners | $0 | — |
| Distributions to noncontrolling interests | ($123.0M) | ($10.0M) |
| Net cash used in financing activities | ($172.0M) | ($13.0M) |
| Effect of exchange rate changes on cash and cash equivalents and restricted cash | ($11.0M) | ($7.0M) |
| Net change in cash and cash equivalents and restricted cash | $387.0M | $296.0M |
| Cash, cash equivalents and restricted cash, beginning of year | $1.9B | $1.9B |
| Cash, cash equivalents and restricted cash, end of period | $2.3B | $2.2B |
| Cash payments for interest on borrowings | $324.0M | $61.0M |
| Cash received from interest rate hedging activities | $17.0M | $7.0M |
| Cash payments for income taxes, net | $55.0M | — |
| Non-cash purchases of property, plant and equipment | $52.0M | — |
| Recognition of tax receivable agreement liability | $862.0M | $479.0M |
| Recognition of deferred tax assets from equity transactions | $391.0M | $294.0M |
Medline Inc. score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.