The Filings Report

Medline Inc. Class A common stock

MDLNNasdaqCIK 2046386Healthcare / Medical Devicesfiscal year ends December6 quarters since 2024

Revenue, Q2 FY2026
$7.7B
+11.6% on Q2 FY2025
Net income
—
no year-earlier figure
Free cash flow
$604M
+594.3% on Q2 FY2025
Diluted EPS
$0.07
no year-earlier figure
Revenue, TTM
—
trailing four quarters
Net margin, TTM
—
net income —
Free cash flow, TTM
—
Cash and equivalents
$2.3B
long-term debt $12.5B, Jun 27, 2026
Shares, 12-month change
—
— shares, Jun 27, 2026
Buybacks, TTM
—
no yield
Dividends, TTM
—
no yield
Market value
—
at the close, buybacks

Latest quarter Q2 FY2026, filed August 5, 2026. Trailing figures sum the latest four quarters. Market values at the latest close, from a market data vendor.

In Q2 FY2026, the quarter ended June 27, 2026, Medline Inc. Class A common stock reported revenue of $7.7B, +11.6% on Q2 FY2025. Operating margin was 5.1%. Free cash flow, operating cash flow less capital expenditures, was $604M ($715M less $111M). Diluted earnings per share were $0.07.

The last 6 quarters

Q4 FY2024 to Q2 FY2026, through the filing of August 5, 2026.

Revenue and net incomeRevenueNet income
$0$2B$4B$6B$8BQ4'24Q1'25, Revenue: $6.6BQ1'25, Net income: $319MQ1'25Q2'25, Revenue: $6.9BQ2'25, Net income: $329MQ2'25Q4'25Q1'26, Revenue: $7.4BQ1'26Q2'26, Revenue: $7.7BQ2'26$0$2B$4B$6B$8BQ4'24Q1'25, Revenue: $6.6BQ1'25, Net income: $319MQ1'25Q2'25, Revenue: $6.9BQ2'25, Net income: $329MQ2'25Q4'25Q1'26, Revenue: $7.4BQ1'26Q2'26, Revenue: $7.7BQ2'26

Net income losses drawn in red.

Free cash flow
$0$200M$400M$600M$800MQ4'24Q1'25, Free cash flow: $584MQ1'25Q2'25, Free cash flow: $87MQ2'25Q4'25Q1'26, Free cash flow: $316MQ1'26Q2'26, Free cash flow: $604MQ2'26$0$200M$400M$600M$800MQ4'24Q1'25, Free cash flow: $584MQ1'25Q2'25, Free cash flow: $87MQ2'25Q4'25Q1'26, Free cash flow: $316MQ1'26Q2'26, Free cash flow: $604MQ2'26

Operating cash flow less capital expenditures; negative quarters in red.

Cash and equivalents against long-term debtCash and equivalentsLong-term debt
$0$5B$10B$15B$20BQ4'24, Cash and equivalents: $199MQ4'24, Long-term debt: $16.4BQ4'24Q1'25Q2'25Q4'25, Cash and equivalents: $1.9BQ4'25, Long-term debt: $12.5BQ4'25Q1'26, Cash and equivalents: $2.2BQ1'26, Long-term debt: $12.5BQ1'26Q2'26, Cash and equivalents: $2.3BQ2'26, Long-term debt: $12.5BQ2'26$0$5B$10B$15B$20BQ4'24, Cash and equivalents: $199MQ4'24, Long-term debt: $16.4BQ4'24Q1'25Q2'25Q4'25, Cash and equivalents: $1.9BQ4'25, Long-term debt: $12.5BQ4'25Q1'26, Cash and equivalents: $2.2BQ1'26, Long-term debt: $12.5BQ1'26Q2'26, Cash and equivalents: $2.3BQ2'26, Long-term debt: $12.5BQ2'26

Positions at each quarter end, as filed; short-term investments are not included.

Income statement

Last eight quarters, newest first, through Q2 FY2026 filed August 5, 2026.

Medline Inc. Class A common stock income statement, quarterly
Millions of dollarsQ2 FY2026ended Jun 27, 2026filed Aug 5, 2026Q1 FY2026ended Mar 28, 2026filed May 6, 2026Q4 FY2025ended Dec 31, 2025filed Feb 25, 2026Q2 FY2025ended Jun 28, 2025filed Aug 5, 2026Q1 FY2025ended Mar 29, 2025filed May 6, 2026Q4 FY2024ended Dec 31, 2024filed Feb 25, 2026YoYQ2 FY2026vs Q2 FY2025
Revenue7,6857,352—6,8866,644—+11.6%
Cost of revenue5,4705,511—4,9814,820—+9.8%
Gross profit2,2151,841—1,9051,824—+16.3%
Research and development———————
Selling, general and administrative1,2951,228—1,0731,070—+20.7%
Operating income395422—642571—−38.5%
Other income (expense)(160)(131)—(283)(233)—+43.5%
Pretax income235291—359338—−34.5%
Income tax9652—2616—+269.2%
Net income———329319——
Diluted EPS ($)0.070.16—————
Diluted shares (millions)861825—————

Fourth quarters are the fiscal year less the first nine months when the filer reports no discrete fourth quarter, and are marked. Diluted EPS is never derived, so a derived quarter shows none. Italic figures are derived.

Balance sheet

Last eight quarters, newest first, through Q2 FY2026 filed August 5, 2026.

Medline Inc. Class A common stock balance sheet, quarterly
Millions of dollarsQ2 FY2026ended Jun 27, 2026filed Aug 5, 2026Q1 FY2026ended Mar 28, 2026filed May 6, 2026Q4 FY2025ended Dec 31, 2025filed Feb 25, 2026Q2 FY2025ended Jun 28, 2025filed Aug 5, 2026Q1 FY2025ended Mar 29, 2025filed May 6, 2026Q4 FY2024ended Dec 31, 2024filed Feb 25, 2026YoYQ2 FY2026vs Q2 FY2025
Cash and equivalents2,3272,2361,939——199—
Short-term investments350—0————
Total current assets11,74211,18010,679——8,272—
Total assets39,35039,01438,484——35,978—
Total current liabilities2,7102,5362,490——2,440—
Long-term debt12,54812,49512,484——16,416—
Total liabilities20,27319,66519,198——19,454—
Stockholders’ equity11,57211,27210,737————
Shares outstanding (millions)———————

Positions at each period end. Nothing on this statement is derived. Long-term debt is the filed noncurrent line only; no total-debt composite is constructed across filers. Italic figures are derived.

Cash flow statement

Last eight quarters, newest first, through Q2 FY2026 filed August 5, 2026.

Medline Inc. Class A common stock cash flow statement, quarterly
Millions of dollarsQ2 FY2026ended Jun 27, 2026filed Aug 5, 2026Q1 FY2026ended Mar 28, 2026filed May 6, 2026Q4 FY2025ended Dec 31, 2025filed Feb 25, 2026Q2 FY2025ended Jun 28, 2025filed Aug 5, 2026Q1 FY2025ended Mar 29, 2025filed May 6, 2026Q4 FY2024ended Dec 31, 2024filed Feb 25, 2026YoYQ2 FY2026vs Q2 FY2025
Operating cash flow715412—197682—+262.9%
Capital expenditures11196—11098—+0.9%
Free cash flow (CFO − capex)604316—87584—+594.3%
Depreciation and amortization256254—250247—+2.4%
Share repurchases00—69—−100.0%
Dividends paid———————

10-Qs file cash flows as year-to-date totals, so quarterly figures are differenced from consecutive filings and marked. Free cash flow is operating cash flow less capital expenditures, computed from the two filed lines. Italic figures are derived.

Annual statements

Every fiscal year filed, newest first, through FY2025 filed February 25, 2026.

Income statement

Medline Inc. Class A common stock income statement, annual
Millions of dollarsFY2025ended Dec 31, 2025filed Feb 25, 2026FY2024ended Dec 31, 2024filed Feb 25, 2026FY2023ended Dec 31, 2023filed Feb 25, 2026
Revenue28,43225,50723,231
Cost of revenue20,91418,53117,346
Gross profit7,5186,9765,885
Research and development806760
Selling, general and administrative4,5244,1083,867
Operating income2,2122,1461,250
Other income (expense)(964)(900)(986)
Pretax income1,2481,246264
Income tax914630
Net income1,159——
Diluted EPS ($)(0.01)——
Diluted shares (millions)810——

Balance sheet

Medline Inc. Class A common stock balance sheet, annual
Millions of dollarsFY2025ended Dec 31, 2025filed Feb 25, 2026FY2024ended Dec 31, 2024filed Feb 25, 2026FY2023ended Dec 31, 2023filed Feb 25, 2026
Cash and equivalents1,939199—
Short-term investments0——
Total current assets10,6798,272—
Total assets38,48435,978—
Total current liabilities2,4902,440—
Long-term debt12,48416,416—
Total liabilities19,19819,454—
Stockholders’ equity10,737——
Shares outstanding (millions)———

Cash flow statement

Medline Inc. Class A common stock cash flow statement, annual
Millions of dollarsFY2025ended Dec 31, 2025filed Feb 25, 2026FY2024ended Dec 31, 2024filed Feb 25, 2026FY2023ended Dec 31, 2023filed Feb 25, 2026
Operating cash flow1,7441,7691,685
Capital expenditures447354275
Free cash flow (CFO − capex)1,2971,4151,410
Depreciation and amortization1,011977951
Share repurchases33200
Dividends paid———

Insider activity

Form 4 filings by officers, directors and 10% owners, November 1, 2024 to November 1, 2026. Only open-market purchases and sales count as buys and sells; awards, exercises, tax withholding and gifts are listed in grey and never counted.

Bought, three months
$0
0 purchases by 0 insiders; officers and directors $0
Sold, three months
$1.2B
12 sales by 1 insider; officers and directors $0
Bought, twelve months
$515M
5 purchases by 4 insiders; officers and directors $150M
Sold, twelve months
$14.9B
50 sales by 16 insiders; officers and directors $4M

The last 25 transactions

TradedInsiderRoleTransactionSharesPriceValueHeld afterFiled
Oct 8, 2026GIC Private Ltd+2 more10% owneropen-market saleindirect8M$35.15$275M69MOct 13, 2026
Oct 6, 2026GIC Private Ltd+2 more10% owneropen-market sale2M$35.05$73M16MOct 6, 2026
Oct 6, 2026GIC Private Ltd+2 more10% owneropen-market saleindirect7M$35.05$252M77MOct 6, 2026
Oct 5, 2026GIC Private Ltd+2 more10% owneropen-market sale2M$35.78$60M19MOct 6, 2026
Oct 2, 2026GIC Private Ltd+2 more10% owneropen-market sale3M$35.35$91M20MOct 6, 2026
Oct 2, 2026GIC Private Ltd+2 more10% owneropen-market saleindirect7M$34.33$245M84MOct 6, 2026
Aug 14, 2026GIC Private Ltd+2 more10% owneropen-market sale100,000$35.80$4M23MAug 17, 2026
Aug 13, 2026GIC Private Ltd+2 more10% owneropen-market sale2M$35.80$54M23MAug 17, 2026
Aug 7, 2026GIC Private Ltd+2 more10% owneropen-market sale590,284$35.58$21M24MAug 11, 2026
Aug 6, 2026Mozart Holdco, Inc.10% ownerconversion500,000$0.00—787,648Aug 7, 2026
Aug 6, 2026Mozart Holdco, Inc.10% ownerother500,000$0.00—234MAug 7, 2026
Aug 6, 2026GIC Private Ltd+2 more10% owneropen-market sale271,994$35.33$10M25MAug 7, 2026
Aug 5, 2026GIC Private Ltd+2 more10% owneropen-market sale2M$35.46$61M26MAug 7, 2026
Aug 5, 2026GIC Private Ltd+2 more10% owneropen-market sale265,711$36.48$10M25MAug 7, 2026
Jun 16, 2026Golwas Douglas PChief Commercial Officer, 10% owneroption exercise100,000——123,899Jun 17, 2026
Jun 16, 2026Golwas Douglas PChief Commercial Officer, 10% owneropen-market sale10b5-161,966$36.60$2M61,933Jun 17, 2026
Jun 16, 2026Golwas Douglas PChief Commercial Officer, 10% owneropen-market sale10b5-138,034$37.05$1M23,899Jun 17, 2026
Jun 16, 2026Golwas Douglas PChief Commercial Officer, 10% ownerdisposition to issuer100,000——365,864Jun 17, 2026
Jun 15, 2026Abrams William JSee Remarkstax withholding1,308$36.61$48K16,546Jun 17, 2026
Jun 15, 2026Shryock Christopher PChief Human Resources Officertax withholding872$36.61$32K11,031Jun 17, 2026
Jun 15, 2026Miller Stephen LChief Operating Officertax withholding1,889$36.61$69K23,899Jun 17, 2026
Jun 15, 2026Liberman Alexander M.Chief Legal Officertax withholding872$36.61$32K11,031Jun 17, 2026
Jun 15, 2026Laabs Amanda H.Chief Product Officertax withholding1,889$36.61$69K23,899Jun 17, 2026
Jun 15, 2026Drazin Michael BChief Financial Officertax withholding1,889$36.61$69K23,899Jun 17, 2026
Jun 15, 2026Golwas Douglas PChief Commercial Officer, 10% ownertax withholding1,889$36.61$69K23,899Jun 17, 2026

Full insider history for Medline Inc. Class A common stock, or insider activity across all companies. A record of filings, not a recommendation.

Tracked funds holding it

1 of the tracked managers held MDLN in their latest 13F filing, through August 14, 2026. Weight is the share of the fund’s reported portfolio. How the funds have traded MDLN by quarter.

FundManagerQuarterValueSharesWeightMove
Lone Pine CapitalSteve MandelQ2 2026$827M21M5.06%added +77.9%

Sources

Fiscal year ends in month 12; periods are labeled with the issuer's own fiscal calendar. Values are as most recently filed (restatements apply; per-share values are on current split basis per the connector's split table, flagged in adjusted). Flow items flagged in `derived` were computed (Q4 = FY − nine months; quarterly cash flow differenced from year-to-date filings) rather than read from a filing. `reconciliation.repaired` lists periods where a full-year figure was filed in a quarter slot: that row was dropped and the quarter rebuilt from the annual figure. `reconciliation.quarantined` lists periods where four filed quarters do not sum to the filed year — those quarterly values are withheld, so a blank there is a withholding rather than an absence of reporting.

Filer
Medline Inc., CIK 2046386 on EDGAR
Extract generated
November 1, 2026
Withheld
none
Repaired
none
XBRL concepts behind each line

Income statement

Revenue: Revenues
Cost of revenue: CostOfGoodsAndServicesSold
Gross profit: GrossProfit
Research and development: ResearchAndDevelopmentExpense
Selling, general and administrative: SellingGeneralAndAdministrativeExpense
Operating income: OperatingIncomeLoss
Other income (expense): NonoperatingIncomeExpense
Pretax income: IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
Income tax: IncomeTaxExpenseBenefit
Net income: NetIncomeLoss
Diluted EPS ($): EarningsPerShareDiluted
Diluted shares (millions): WeightedAverageNumberOfDilutedSharesOutstanding

Balance sheet

Cash and equivalents: CashAndCashEquivalentsAtCarryingValue
Short-term investments: ShortTermInvestments
Total current assets: AssetsCurrent
Total assets: Assets
Total current liabilities: LiabilitiesCurrent
Long-term debt: LongTermDebtNoncurrent
Total liabilities: Liabilities
Stockholders’ equity: StockholdersEquity
Shares outstanding (millions): not filed

Cash flow statement

Operating cash flow: NetCashProvidedByUsedInOperatingActivities
Capital expenditures: PaymentsToAcquirePropertyPlantAndEquipment
Free cash flow (CFO − capex): not filed
Depreciation and amortization: DepreciationDepletionAndAmortization
Share repurchases: PaymentsForRepurchaseOfCommonStock
Dividends paid: not filed

The data

The statements on this page as files, generated November 1, 2026.

JSON file
/data/financials/MDLN.json