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MDLN · Medline Inc.

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$39.47 -0.51 (-1.28%) At close · Nov 13
Russell 1000 member Rebalance outlook locked
Customer concentration — key customers 74% of revenue

Key customers — 74% of revenue (the year ended December 31, 2025)

“for the year ended December 31, 2025, approximately $19.7 billion (or 69% of consolidated net sales and 74% of U.S. net sales) was from sales to member hospitals under contract with our largest GPOs: Vizient Supply, LLC, HealthTrust Purchasing Group, L.P., and Premier Healthcare Alliance, L.P.”

Key customers — 69% of revenue (the year ended December 31, 2025)

“for the year ended December 31, 2025, approximately $19.7 billion (or 69% of consolidated net sales and 74% of U.S. net sales) was from sales to member hospitals under contract with our largest GPOs: Vizient Supply, LLC, HealthTrust Purchasing Group, L.P., and Premier Healthcare Alliance, L.P.”

5 customers — 11.3% of revenue (the year ended December 31, 2025)

“For the year ended December 31, 2025, our top five U.S. customers represented approximately $3.2 billion (or 11.3%) of our net sales.”
View the 10-K filed Feb 25, 2026
Market Cap
$51.92B
Shares
1.32B
Volume · Nov 13 8.43M Avg daily vol (3M) 8.74M

Price & Indicators

Drag to pan · scroll to zoom
Indicators
Price
Panels
Event markers
20d MA 50d MA 200d MA Earnings Filing Insider Congress Investor day
Close$39.47 Open$40.22 Day$38.91–40.54 Available close range$31.64–49.99 Avg vol 30d9.6M Short int37.8M · 2.9% of shares · 3.8d Short vol58% Last earningsNov 4, 2026 DataDec 2025–Nov 2026 Filing10-Q · Nov 4

The closing range uses available history since Dec 17, 2025; less than a full year is stored.

Up next

Next earnings call
Feb 24, 2027 Est · unconfirmed · in 14 wks
Q3 2026 earnings call transcript
call held Nov 4, 2026
Play latest call

Latest documents

2026
Nov 4
Quarterly report 10-Q FY2026 Q3, ended Sep 26
Quarterly sales rise 10.4% as net income slips 1.2%

Medline Inc. reported three-month net sales increased 10.4% to $7,856 million, while net income decreased 1.2% to $318 million. Gross profit as a percentage of sales fell to 24.5% from 26.4%.

Revenue $7.86B ▲ 10.4% Net income $318M Diluted EPS $0.22
Read from the MD&A section
3 source passages
Net sales for the three months ended September 26, 2026 increased $741 million, or 10.4%, to $7,856 million, compared to $7,115 million for the respective period in 2025, primarily driven by increased volumes in organic net sales. Net income | | | 318 | 322 | (4) | (1.2)% | 696 | 977 | (281) | (28.8)% Gross profit as a percentage of sales decreased from 26.4% for the three months ended September 27, 2025 to 24.5% for the three months ended September 26, 2026, primarily due to increased inventory costs associated with inflation and customer mix from Prime Vendors at lower margins within Supply Chain Solutions, partially offset by net tariff refunds. Open the document at this passage
Nov 4
Current report 8-K
Sales rise 10.4%, but net income slips 1.2%

Medline Inc. reported third-quarter net sales of $7.9 billion, up 10.4%, and net income of $318 million, down 1.2%. It raised full-year 2026 Organic Sales guidance to 10.0% to 10.5% and authorized a $1 billion share repurchase program.

Financial results
5 source passages
On November 4, 2026, Medline Inc. issued a press release announcing results for the third quarter and the first nine months ended September 26, 2026. Third quarter net sales of $7.9 billion, an increase of 10.4% Third quarter net income of $318 million, a decrease of 1.2% Raising full year 2026 Organic Sales2 guidance to 10.0% to 10.5% from 9.0% to 10.0% and reaffirming Adjusted EBITDA2 guidance of $3.3 billion to $3.4 billion Board of Directors authorized a $1 billion share repurchase program Open the document at this passage
Oct 21
Current report 8-K
Regulation FD disclosure

Medline Inc. is exiting all Medline Brand beds and related products, which generated approximately $60 million in sales; estimated costs are up to $220 million, with no material fiscal year 2026 impact.

Oct 15
Current report 8-K Events of Oct 13
Director or officer change, or executive pay

Medline Inc. reported that Joseph P. Baratta resigned from its Board effective December 31, 2026, coinciding with his previously announced departure from Blackstone Inc. and not due to any disagreement with the Company.

All documents

Metrics snapshot

Useful current figures from the complete screener profile.

Revenue (TTM)
$30.68B
Trailing 12 months
Net income (TTM)
$889.00M
Trailing 12 months
Revenue growth YoY
+10.4%
Year over year
Operating margin
5.7%
Trailing 12 months
P / E (TTM)
58.4
Trailing earnings · reciprocal yield 1.7%
FCF yield
3.7%
TTM · current market cap
Return on invested capital
6.6%
Trailing 12 months
Net cash
−$8.97B
Latest balance sheet
Dividend yield
—
Trailing 12 months
Shares change YoY
—
Year over year · more shares
Price change (1Y)
—
Trailing year
Short interest
2.9%
Latest settlement · 3.8 days to cover
View all 125 metrics

Quarterly results

Revenue Net income Net loss
· $6.64B $319.00M '25 Q1 · $6.89B $329.00M '25 Q2 · $7.12B $318.00M '25 Q3 · $7.79B $193.00M '25 Q4* ▲10.7% $7.35B $239.00M '26 Q1 ▲11.6% $7.68B $139.00M '26 Q2 LATEST ▲10.4% $7.86B $318.00M '26 Q3

* Q4 derived as the full year minus Q1 to Q3.

AI Brief

Q2 FY26 earnings call · Aug 5, 2026
Q2 FY26

TL;DR. Medline raised full-year organic sales guidance to 9.0%–10.0% on 11.6% Q2 net sales growth and $650M of new customer signings, while cutting full-year adjusted EBITDA guidance to $3.3–$3.4B from $3.5–$3.6B and absorbing a $336M Tracy fire loss that pushed GAAP net income down 58.3%.

Bullish
  • + Q2 net sales rose 11.6% to $7.7 billion
  • + Achieved over 65% of $1B annual signings goal with $650M in H1 new wins
  • + Q2 Adjusted EBITDA grew 13.4% to $1.06B including $243M net IEEPA tariff refund benefit
  • + Supply chain solutions grew 16% to $4.1B driven by new signings and existing customer growth
Bearish
  • − Cut full-year adjusted EBITDA guidance to $3.3–$3.4B from $3.5–$3.6B
  • − Tracy fire drove $336M Q2 loss before insurance recoveries, reducing GAAP net income 58.3%
  • − Expect additional $50–$100M of Tracy-related costs in H2 2026
  • − Retail channel softness expected to remain a headwind for the balance of the year
  • − Quality remediation delays product reintroductions, including CHG wipes, causing earnings loss

AI-generated from the earnings call and 8-K · may contain errors · not investment advice

Equibles Rating

blended score · not investment advice
Overall
Buy
SellHoldBuy
Technical Buy Momentum Strong Sentiment Bullish Fundamentals Strong Quant / Vol Very High
Market backdrop VIX 19.3 · elevated Equity put/call 0.63
Technical
price trend
Buy
50 / 200-day cross No cross
Price vs 200-day avg +0%
above
Price vs 50-day avg +12%
above
RSI (14) 60
neutral
MACD trend Positive
52-week position 43%
mid-range
Volume (OBV) Bearish div.
distributing
Momentum
relative strength
Strong
1-month return +10%
trailing
6-month return +9%
trailing
YTD return −6%
this year
Relative strength +9%
vs S&P · 6-mo
Sentiment
smart money
Bullish
Trend (MA cross) No cross
50d $35 › 200d $39 — 200d above 50d
Institutional flow Accumulating
371 of 414 funds reported for Sep 30 · net +26.3M sh shares · +69 new
Insider flow Flat
No net insider activity over 90 days
Short interest Falling
2.88% of shares out · ▼ -7.3% MoM · 3.8 days cover
Volume signal Normal
Volume near normal
Institution breadth Steady
414 holders — 13F breadth
Squeeze score 54
elevated · 0–100
Fundamentals
Strong
Revenue growth +11%
Y/Y
Gross margin 26%
contracting
Free cash flow $1.3B
Buyback $1.0B
authorized
Balance sheet $10.6B
net debt
Quant / Vol
risk profile
Very High
Volatility 48%
annualized · 1-yr
Max drawdown −37%
past year
ATR 4.3%
of price · 14-day

Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.

Guidance & track record

Latest guidance · from the Earnings Call filed Aug 5, 2026
full-year 2026
Adjusted EBITDA Non-GAAP Lowered $3.3B – $3.4B
May 6, 2026 $3.5B – $3.6B changed to Aug 5, 2026 $3.3B – $3.4B
Adjusted EBIT Non-GAAP $3.3B – $3.4B
Tax distributions $250M – $300M
CapEx $500M – $600M
full year 2026
Full year 2026 net tariff impacts $350M
second half of 2026
Additional TRACIE-related costs $50M – $100M
for the year
Supply chain solutions EBITDA margin 4.9% – 5%
Previous outlook earlier release · from the Earnings Call filed May 6, 2026

Still-open targets the latest release did not restate under the same label.

EBITDA · for the year $3.5B – $3.6B

Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.

Technicals

trend & momentum for long-term holders Buy
1 · 3 · 3
50 / 200-day cross
No cross Neutral
Price vs 200-day avg
+0% Bullish
Price vs 50-day avg
+12% Bullish
RSI (14)
60 Neutral
MACD trend
Positive Bullish
52-week position
43% Neutral
Volume (OBV)
Bearish div. Bearish
Market signals — smart money & positioning
Bullish · 2 of 6
Trend (MA cross) No cross
50d $35 › 200d $39 — 200d above 50d
Institutional flow Accumulating
371 of 414 funds reported for Sep 30 · net +26.3M sh shares · +69 new
Insider flow Flat
No net insider activity over 90 days
Short interest Falling
2.88% of shares out · ▼ -7.3% MoM · 3.8 days cover
Volume signal Normal
Volume near normal
Institution breadth Steady
414 holders — 13F breadth
Price context
position in its available closing range
Range low $32 Now $39 · 43% Range high $50
vs 200-day avg +0% vs 50-day avg +12%

Illustrative technical + ownership context — a signal mix, not investment advice.

Key metrics

the company's own KPIs, from written earnings releases and filings
Metric Latest Period YoY
Adjusted Diluted EPS non-GAAP $0.83 Six months ended June 27, 2026 —
Adjusted EBITDA non-GAAP $3.5B Trailing Twelve months ended June 27, 2026 —
Adjusted EBITDA Margin non-GAAP 11.7% Trailing Twelve months ended June 27, 2026 —
Adjusted Net Income non-GAAP $1.1B Six months ended June 27, 2026 —
Free Cash Flow non-GAAP $920M First six months 2026 —
Medline Brand segment Adjusted EBITDA non-GAAP $1.83B Six months ended June 27, 2026 —
Medline Brand segment Adjusted EBITDA Margin non-GAAP 26.2% Six months ended June 27, 2026 —
Net Leverage non-GAAP 2.9 As of June 27, 2026 —
Organic Sales growth non-GAAP 10.8% Six months ended June 27, 2026 —
Supply Chain Solutions segment Adjusted EBITDA non-GAAP $391M Six months ended June 27, 2026 —
Total segment adjusted EBITDA non-GAAP $1.27B the three months ended June 27, 2026 filing —

Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period

Versus peers

Medical Instruments & Supplies — same industry group
Open screener →
Company Mkt cap YTD Rev growth Y/Y P/E Short % shares
MDLN
Medline Inc.
this stock
$51.92B -6.0% +11.5% — 2.9%
ISRG
Intuitive Surgical Inc
 $153.77B -21.7% +20.5% 53.8 2.0%
BDX
Becton Dickinson & Co
 $59.39B — +8.2% 96.5 3.0%
ALC
Alcon Inc
 $35.61B -6.0% +10.5% — 3.8%
RMD
Resmed Inc
 $33.69B -0.6% +13.4% 21.8 7.4%

Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding

At a glance

key data from every section
Ownership
Institutional Holders Accumulating
Holders
433
% held
67.1%
Reported
371 of 414
Top holder
Carlyle Group Inc.
Held Float
View
Held by Funds
Fund positions
384
View
Short & Settlement
Short Interest Falling
Shares short
37.8M
Days to cover
3.8d
Change
-3.0M sh
View
Short Volume
Short vol %
58%
As of
Nov 13, 2026
Short Total
View
Fails to Deliver
FTD shares
593
Value
$21.2K
As of
Oct 14, 2026
View
Off-Exchange
Off-exchange %
44.2%
Week of
Oct 5, 2026
Off-exch Lit
View
Financials
Financials
Revenue (FY)
$28.4B
Net income (FY)
$1.2B
EPS diluted
$-0.01
View
Buybacks
Authorized
$1.0B
View
Filings
SEC Filings
Latest
8-K
Filed
Nov 4, 2026
This year
23

Medline Inc. reported third-quarter net sales of $7.9 billion, up 10.4%, and net income of $318 million, down 1.2%. It raised full-year 2026 Organic Sales guidance to 10.0% to 10.5% and authorized a $1 billion share repurchase program.

View
Earnings & Events
Webcasts Upcoming
Next webcast
Nov 17, 2026
Last webcast
Nov 4, 2026
View
Investor Relations
Latest news
Medline announces participation i…
Published
Nov 2, 2026
Upcoming events
2
View

Performance

5D 20D 120D MTD YTD
MDLN -0.4% +9.8% +9.2% +22.9% -6.0%
SPY +2.6% -1.2% +0.5% -0.2% +10.6%
vs SPY -3.0% +10.9% +8.7% +23.1% -16.6%

Capital returns

Buyback program · as of Oct 31, 2026
Authorized
$1.00B
Spent (derived)
—
Remaining
—

Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.

Key facts CIK 2046386 CUSIP 58507V107 13F (30d) 306 filings 296 filers Visit website Investor relations