# Medical devices and instruments peer review

Descriptive comparison assembled from public SEC filings and verified companyfacts.

**Descriptive comparison -- not investment advice.** This feature-specific review is assembled from a frozen evidence pack of public SEC filing quotes and verified SEC companyfacts numbers. It is descriptive only and makes no judgment about which company is better.

## Companies

[MDLN](/company/MDLN/), [SYK](/company/SYK/), [MMM](/company/MMM/), [BDX](/company/BDX/), [BSX](/company/BSX/), [BAX](/company/BAX/), [SOLV](/company/SOLV/), [RMD](/company/RMD/), [DXCM](/company/DXCM/), [WST](/company/WST/), [GMED](/company/GMED/), [PODD](/company/PODD/)

## Governing statutes (not legal advice)

**Descriptive law cross-reference -- not legal advice.** grepcent publishes a curated industry-to-statute association only. This is not legal advice. It does not interpret statutes, assess company conduct, or mirror statute text. Deep links go to neochart.

Statutes grepcent curates as governing this industry, deep-linked to neochart's official text. Case-citation counts are shown as an importance signal, not the selection criterion. Not legal advice. Citing cases are shown as a case-citation in-degree importance signal, not an endorsement.

- [35 U.S.C. § 271](https://www.neochart.com/catalog/federal/patent/title_35/chapter_28/section_271/title35_sec271_3da7ea233a9d/271_infringement_of_patent_0001/index.html): §271. Infringement of patent (2,433 citing cases; source neochart)
- [21 U.S.C. § 360c](https://www.neochart.com/catalog/federal/title_21/section_360c/title21_sec360c_a091eb6604b5/360c_classification_of_devices_intended_for_human_use_0001/index.html): § 360c. Classification of devices intended for human use (1 citing cases; source neochart)
- [21 U.S.C. § 360e](https://www.neochart.com/catalog/federal/title_21/section_360e/title21_sec360e_a6b5b155baa6/360e_premarket_approval_0001/index.html): § 360e. Premarket approval (1 citing cases; source neochart)

## Methodology

The cluster is selected mechanically from public SEC SIC 3841 companies already present in grepcent's processed universe, sorted by latest reported revenue. The SIC pool includes pure-play devices and diversified instrument companies; those differences are disclosed rather than normalized away. The review publishes no proprietary index-membership labels.

Pack hash: `f1e3100a01bb74cd6e453160c9550935f3ace7dc972a81802577ac247e01338b`. Generated: 2026-07-21.

## Verified Quantitative Matrix

| Metric | MDLN | SYK | MMM | BDX | BSX | BAX | SOLV | RMD | DXCM | WST | GMED | PODD | Comparability |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Revenue | 28,432,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_MDLN_REVENUE_FY2025; concept us-gaap:Revenues | 25,116,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_SYK_REVENUE_FY2025; concept us-gaap:Revenues | 24,948,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_MMM_REVENUE_FY2025; concept us-gaap:Revenues | 21,840,000,000; FY 2025; period end 2025-09-30; offset about 3 months before row reference (-92d) (offset); fact NUM_BDX_REVENUE_FY2025; concept us-gaap:Revenues | 20,074,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_BSX_REVENUE_FY2025; concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 11,244,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_BAX_REVENUE_FY2025; concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 8,325,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_SOLV_REVENUE_FY2025; concept us-gaap:Revenues | 5,146,327,000; FY 2025; period end 2025-06-30; offset about 6 months before row reference (-184d) (offset); fact NUM_RMD_REVENUE_FY2025; concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 4,662,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_DXCM_REVENUE_FY2025; concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 3,074,100,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_WST_REVENUE_FY2025; concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 2,938,931,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_GMED_REVENUE_FY2025; concept us-gaap:Revenues | 2,708,100,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_PODD_REVENUE_FY2025; concept us-gaap:Revenues | period offset; reference 2025-12-31; offsets BAX 0d aligned, BDX about 3 months before row reference (-92d) offset, BSX 0d aligned, DXCM 0d aligned, GMED 0d aligned, MDLN 0d aligned, MMM 0d aligned, PODD 0d aligned, RMD about 6 months before row reference (-184d) offset, SOLV 0d aligned, SYK 0d aligned, WST 0d aligned; tags mixed; concepts us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, us-gaap:Revenues; concept mapping BAX -> us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; BDX -> us-gaap:Revenues; BSX -> us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; DXCM -> us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; GMED -> us-gaap:Revenues; MDLN -> us-gaap:Revenues; MMM -> us-gaap:Revenues; PODD -> us-gaap:Revenues; RMD -> us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; SOLV -> us-gaap:Revenues; SYK -> us-gaap:Revenues; WST -> us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
| Net margin | 4.08%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_MDLN_NET_MARGIN_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:Revenues | 12.92%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_SYK_NET_MARGIN_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:Revenues | 13.03%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_MMM_NET_MARGIN_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:Revenues | 7.68%; FY 2025; period end 2025-09-30; offset about 3 months before row reference (-92d) (offset); fact NUM_BDX_NET_MARGIN_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:Revenues | 14.41%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_BSX_NET_MARGIN_FY2025; concept us-gaap:ProfitLoss; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | -8.51%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_BAX_NET_MARGIN_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 18.69%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_SOLV_NET_MARGIN_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:Revenues | 27.22%; FY 2025; period end 2025-06-30; offset about 6 months before row reference (-184d) (offset); fact NUM_RMD_NET_MARGIN_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 17.94%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_DXCM_NET_MARGIN_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 16.06%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_WST_NET_MARGIN_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 18.30%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_GMED_NET_MARGIN_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:Revenues | 9.12%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_PODD_NET_MARGIN_FY2025; concept us-gaap:NetIncomeLoss; us-gaap:Revenues | period offset; reference 2025-12-31; offsets BAX 0d aligned, BDX about 3 months before row reference (-92d) offset, BSX 0d aligned, DXCM 0d aligned, GMED 0d aligned, MDLN 0d aligned, MMM 0d aligned, PODD 0d aligned, RMD about 6 months before row reference (-184d) offset, SOLV 0d aligned, SYK 0d aligned, WST 0d aligned; tags mixed; concepts us-gaap:NetIncomeLoss, us-gaap:ProfitLoss, us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, us-gaap:Revenues; concept mapping BAX -> us-gaap:NetIncomeLoss + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; BDX -> us-gaap:NetIncomeLoss + us-gaap:Revenues; BSX -> us-gaap:ProfitLoss + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; DXCM -> us-gaap:NetIncomeLoss + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; GMED -> us-gaap:NetIncomeLoss + us-gaap:Revenues; MDLN -> us-gaap:NetIncomeLoss + us-gaap:Revenues; MMM -> us-gaap:NetIncomeLoss + us-gaap:Revenues; PODD -> us-gaap:NetIncomeLoss + us-gaap:Revenues; RMD -> us-gaap:NetIncomeLoss + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; SOLV -> us-gaap:NetIncomeLoss + us-gaap:Revenues; SYK -> us-gaap:NetIncomeLoss + us-gaap:Revenues; WST -> us-gaap:NetIncomeLoss + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
| Operating margin | 7.78%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_MDLN_OPERATING_MARGIN_FY2025; concept us-gaap:OperatingIncomeLoss; us-gaap:Revenues | 19.47%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_SYK_OPERATING_MARGIN_FY2025; concept us-gaap:OperatingIncomeLoss; us-gaap:Revenues | 18.55%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_MMM_OPERATING_MARGIN_FY2025; concept us-gaap:OperatingIncomeLoss; us-gaap:Revenues | 11.81%; FY 2025; period end 2025-09-30; offset about 3 months before row reference (-92d) (offset); fact NUM_BDX_OPERATING_MARGIN_FY2025; concept us-gaap:OperatingIncomeLoss; us-gaap:Revenues | 18.00%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_BSX_OPERATING_MARGIN_FY2025; concept us-gaap:OperatingIncomeLoss; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | -2.74%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_BAX_OPERATING_MARGIN_FY2025; concept us-gaap:OperatingIncomeLoss; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 26.20%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_SOLV_OPERATING_MARGIN_FY2025; concept us-gaap:OperatingIncomeLoss; us-gaap:Revenues | 32.75%; FY 2025; period end 2025-06-30; offset about 6 months before row reference (-184d) (offset); fact NUM_RMD_OPERATING_MARGIN_FY2025; concept us-gaap:OperatingIncomeLoss; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 19.56%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_DXCM_OPERATING_MARGIN_FY2025; concept us-gaap:OperatingIncomeLoss; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 19.03%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_WST_OPERATING_MARGIN_FY2025; concept us-gaap:OperatingIncomeLoss; us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | 16.33%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_GMED_OPERATING_MARGIN_FY2025; concept us-gaap:OperatingIncomeLoss; us-gaap:Revenues | 17.50%; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_PODD_OPERATING_MARGIN_FY2025; concept us-gaap:OperatingIncomeLoss; us-gaap:Revenues | period offset; reference 2025-12-31; offsets BAX 0d aligned, BDX about 3 months before row reference (-92d) offset, BSX 0d aligned, DXCM 0d aligned, GMED 0d aligned, MDLN 0d aligned, MMM 0d aligned, PODD 0d aligned, RMD about 6 months before row reference (-184d) offset, SOLV 0d aligned, SYK 0d aligned, WST 0d aligned; tags mixed; concepts us-gaap:OperatingIncomeLoss, us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, us-gaap:Revenues; concept mapping BAX -> us-gaap:OperatingIncomeLoss + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; BDX -> us-gaap:OperatingIncomeLoss + us-gaap:Revenues; BSX -> us-gaap:OperatingIncomeLoss + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; DXCM -> us-gaap:OperatingIncomeLoss + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; GMED -> us-gaap:OperatingIncomeLoss + us-gaap:Revenues; MDLN -> us-gaap:OperatingIncomeLoss + us-gaap:Revenues; MMM -> us-gaap:OperatingIncomeLoss + us-gaap:Revenues; PODD -> us-gaap:OperatingIncomeLoss + us-gaap:Revenues; RMD -> us-gaap:OperatingIncomeLoss + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; SOLV -> us-gaap:OperatingIncomeLoss + us-gaap:Revenues; SYK -> us-gaap:OperatingIncomeLoss + us-gaap:Revenues; WST -> us-gaap:OperatingIncomeLoss + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
| Free cash flow | 1,297,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_MDLN_FREE_CASH_FLOW_FY2025; concept us-gaap:NetCashProvidedByUsedInOperatingActivities; us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | 4,283,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_SYK_FREE_CASH_FLOW_FY2025; concept us-gaap:NetCashProvidedByUsedInOperatingActivities; us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | 1,396,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_MMM_FREE_CASH_FLOW_FY2025; concept us-gaap:NetCashProvidedByUsedInOperatingActivities; us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | 2,670,000,000; FY 2025; period end 2025-09-30; offset about 3 months before row reference (-92d) (offset); fact NUM_BDX_FREE_CASH_FLOW_FY2025; concept us-gaap:NetCashProvidedByUsedInOperatingActivitiesContinuingOperations; us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | 3,658,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_BSX_FREE_CASH_FLOW_FY2025; concept us-gaap:NetCashProvidedByUsedInOperatingActivities; us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | 332,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_BAX_FREE_CASH_FLOW_FY2025; concept us-gaap:NetCashProvidedByUsedInOperatingActivities; us-gaap:PaymentsToAcquireProductiveAssets | -10,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_SOLV_FREE_CASH_FLOW_FY2025; concept us-gaap:NetCashProvidedByUsedInOperatingActivities; us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | 1,661,723,000; FY 2025; period end 2025-06-30; offset about 6 months before row reference (-184d) (offset); fact NUM_RMD_FREE_CASH_FLOW_FY2025; concept us-gaap:NetCashProvidedByUsedInOperatingActivities; us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | 1,077,200,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_DXCM_FREE_CASH_FLOW_FY2025; concept us-gaap:NetCashProvidedByUsedInOperatingActivities; us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | 468,900,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_WST_FREE_CASH_FLOW_FY2025; concept us-gaap:NetCashProvidedByUsedInOperatingActivities; us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | 588,768,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_GMED_FREE_CASH_FLOW_FY2025; concept us-gaap:NetCashProvidedByUsedInOperatingActivities; us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | 377,700,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_PODD_FREE_CASH_FLOW_FY2025; concept us-gaap:NetCashProvidedByUsedInOperatingActivities; us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | period offset; reference 2025-12-31; offsets BAX 0d aligned, BDX about 3 months before row reference (-92d) offset, BSX 0d aligned, DXCM 0d aligned, GMED 0d aligned, MDLN 0d aligned, MMM 0d aligned, PODD 0d aligned, RMD about 6 months before row reference (-184d) offset, SOLV 0d aligned, SYK 0d aligned, WST 0d aligned; tags mixed; concepts us-gaap:NetCashProvidedByUsedInOperatingActivities, us-gaap:NetCashProvidedByUsedInOperatingActivitiesContinuingOperations, us-gaap:PaymentsToAcquireProductiveAssets, us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; concept mapping BAX -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquireProductiveAssets; BDX -> us-gaap:NetCashProvidedByUsedInOperatingActivitiesContinuingOperations + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; BSX -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; DXCM -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; GMED -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; MDLN -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; MMM -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; PODD -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; RMD -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; SOLV -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; SYK -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; WST -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment |
| Capital expenditures | 447,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_MDLN_CAPEX_FY2025; concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | 761,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_SYK_CAPEX_FY2025; concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | 910,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_MMM_CAPEX_FY2025; concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | 760,000,000; FY 2025; period end 2025-09-30; offset about 3 months before row reference (-92d) (offset); fact NUM_BDX_CAPEX_FY2025; concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | 876,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_BSX_CAPEX_FY2025; concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | 513,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_BAX_CAPEX_FY2025; concept us-gaap:PaymentsToAcquireProductiveAssets | 379,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_SOLV_CAPEX_FY2025; concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | 89,865,000; FY 2025; period end 2025-06-30; offset about 6 months before row reference (-184d) (offset); fact NUM_RMD_CAPEX_FY2025; concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | 363,500,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_DXCM_CAPEX_FY2025; concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | 285,900,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_WST_CAPEX_FY2025; concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | 164,679,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_GMED_CAPEX_FY2025; concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | 191,600,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_PODD_CAPEX_FY2025; concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | period offset; reference 2025-12-31; offsets BAX 0d aligned, BDX about 3 months before row reference (-92d) offset, BSX 0d aligned, DXCM 0d aligned, GMED 0d aligned, MDLN 0d aligned, MMM 0d aligned, PODD 0d aligned, RMD about 6 months before row reference (-184d) offset, SOLV 0d aligned, SYK 0d aligned, WST 0d aligned; tags mixed; concepts us-gaap:PaymentsToAcquireProductiveAssets, us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; concept mapping BAX -> us-gaap:PaymentsToAcquireProductiveAssets; BDX -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; BSX -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; DXCM -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; GMED -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; MDLN -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; MMM -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; PODD -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; RMD -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; SOLV -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; SYK -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; WST -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment |
| Dividends paid | Not available | 1,284,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_SYK_DIVIDENDS_PAID_FY2025; concept us-gaap:PaymentsOfDividends | 1,562,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_MMM_DIVIDENDS_PAID_FY2025; concept us-gaap:PaymentsOfDividendsCommonStock | 1,196,000,000; FY 2025; period end 2025-09-30; offset about 3 months before row reference (-92d) (offset); fact NUM_BDX_DIVIDENDS_PAID_FY2025; concept us-gaap:PaymentsOfDividendsCommonStock | 0.00; FY 2024; period end 2024-12-31; offset different fiscal year (365 days before row reference) (offset); fact NUM_BSX_DIVIDENDS_PAID_FY2024; concept us-gaap:PaymentsOfDividends | 348,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_BAX_DIVIDENDS_PAID_FY2025; concept us-gaap:PaymentsOfDividendsCommonStock | Not available | 310,880,000; FY 2025; period end 2025-06-30; offset about 6 months before row reference (-184d) (offset); fact NUM_RMD_DIVIDENDS_PAID_FY2025; concept us-gaap:PaymentsOfDividends | Not available | 61,200,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_WST_DIVIDENDS_PAID_FY2025; concept us-gaap:PaymentsOfDividendsCommonStock | Not available | Not available | period offset; reference 2025-12-31; offsets BAX 0d aligned, BDX about 3 months before row reference (-92d) offset, BSX different fiscal year (365 days before row reference) offset, MMM 0d aligned, RMD about 6 months before row reference (-184d) offset, SYK 0d aligned, WST 0d aligned; tags mixed; concepts us-gaap:PaymentsOfDividends, us-gaap:PaymentsOfDividendsCommonStock; concept mapping BAX -> us-gaap:PaymentsOfDividendsCommonStock; BDX -> us-gaap:PaymentsOfDividendsCommonStock; BSX -> us-gaap:PaymentsOfDividends; MMM -> us-gaap:PaymentsOfDividendsCommonStock; RMD -> us-gaap:PaymentsOfDividends; SYK -> us-gaap:PaymentsOfDividends; WST -> us-gaap:PaymentsOfDividendsCommonStock |
| Share buybacks | 33,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_MDLN_SHARE_BUYBACKS_FY2025; concept us-gaap:PaymentsForRepurchaseOfCommonStock | Not available | 3,251,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_MMM_SHARE_BUYBACKS_FY2025; concept us-gaap:PaymentsForRepurchaseOfCommonStock | 1,000,000,000; FY 2025; period end 2025-09-30; offset about 3 months before row reference (-92d) (offset); fact NUM_BDX_SHARE_BUYBACKS_FY2025; concept us-gaap:PaymentsForRepurchaseOfCommonStock | Not available | 0.00; FY 2024; period end 2024-12-31; offset different fiscal year (365 days before row reference) (offset); fact NUM_BAX_SHARE_BUYBACKS_FY2024; concept us-gaap:PaymentsForRepurchaseOfCommonStock | Not available | 300,025,000; FY 2025; period end 2025-06-30; offset about 6 months before row reference (-184d) (offset); fact NUM_RMD_SHARE_BUYBACKS_FY2025; concept us-gaap:PaymentsForRepurchaseOfCommonStock | 500,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_DXCM_SHARE_BUYBACKS_FY2025; concept us-gaap:PaymentsForRepurchaseOfCommonStock | 134,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_WST_SHARE_BUYBACKS_FY2025; concept us-gaap:PaymentsForRepurchaseOfCommonStock | 300,451,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_GMED_SHARE_BUYBACKS_FY2025; concept us-gaap:PaymentsForRepurchaseOfCommonStock | 59,600,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_PODD_SHARE_BUYBACKS_FY2025; concept us-gaap:PaymentsForRepurchaseOfCommonStock | period offset; reference 2025-12-31; offsets BAX different fiscal year (365 days before row reference) offset, BDX about 3 months before row reference (-92d) offset, DXCM 0d aligned, GMED 0d aligned, MDLN 0d aligned, MMM 0d aligned, PODD 0d aligned, RMD about 6 months before row reference (-184d) offset, WST 0d aligned; tags clean |
| Assets | 38,484,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_MDLN_ASSETS_FY2025; concept us-gaap:Assets | 47,844,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_SYK_ASSETS_FY2025; concept us-gaap:Assets | 37,733,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_MMM_ASSETS_FY2025; concept us-gaap:Assets | 55,325,000,000; FY 2025; period end 2025-09-30; offset about 3 months before row reference (-92d) (offset); fact NUM_BDX_ASSETS_FY2025; concept us-gaap:Assets | 43,673,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_BSX_ASSETS_FY2025; concept us-gaap:Assets | 20,055,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_BAX_ASSETS_FY2025; concept us-gaap:Assets | 14,294,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_SOLV_ASSETS_FY2025; concept us-gaap:Assets | 8,174,391,000; FY 2025; period end 2025-06-30; offset about 6 months before row reference (-184d) (offset); fact NUM_RMD_ASSETS_FY2025; concept us-gaap:Assets | 6,339,900,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_DXCM_ASSETS_FY2025; concept us-gaap:Assets | 4,270,000,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_WST_ASSETS_FY2025; concept us-gaap:Assets | 5,302,761,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_GMED_ASSETS_FY2025; concept us-gaap:Assets | 3,190,400,000; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_PODD_ASSETS_FY2025; concept us-gaap:Assets | period offset; reference 2025-12-31; offsets BAX 0d aligned, BDX about 3 months before row reference (-92d) offset, BSX 0d aligned, DXCM 0d aligned, GMED 0d aligned, MDLN 0d aligned, MMM 0d aligned, PODD 0d aligned, RMD about 6 months before row reference (-184d) offset, SOLV 0d aligned, SYK 0d aligned, WST 0d aligned; tags clean |
| Liabilities / equity | 1.79; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_MDLN_LIABILITIES_TO_EQUITY_FY2025; concept us-gaap:Liabilities; us-gaap:StockholdersEquity | 1.13; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_SYK_LIABILITIES_TO_EQUITY_FY2025; concept us-gaap:Liabilities; us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest | 7.02; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_MMM_LIABILITIES_TO_EQUITY_FY2025; concept us-gaap:Liabilities; us-gaap:StockholdersEquity | Not available | Not available | 2.28; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_BAX_LIABILITIES_TO_EQUITY_FY2025; concept us-gaap:Liabilities; us-gaap:StockholdersEquity | 1.83; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_SOLV_LIABILITIES_TO_EQUITY_FY2025; concept us-gaap:Liabilities; us-gaap:StockholdersEquity | 0.37; FY 2025; period end 2025-06-30; offset about 6 months before row reference (-184d) (offset); fact NUM_RMD_LIABILITIES_TO_EQUITY_FY2025; concept us-gaap:Liabilities; us-gaap:StockholdersEquity | 1.31; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_DXCM_LIABILITIES_TO_EQUITY_FY2025; concept us-gaap:Liabilities; us-gaap:StockholdersEquity | 0.34; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_WST_LIABILITIES_TO_EQUITY_FY2025; concept us-gaap:Liabilities; us-gaap:StockholdersEquity | 0.16; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_GMED_LIABILITIES_TO_EQUITY_FY2025; concept us-gaap:Liabilities; us-gaap:StockholdersEquity | 1.11; FY 2025; period end 2025-12-31; offset 0d (aligned); fact NUM_PODD_LIABILITIES_TO_EQUITY_FY2025; concept us-gaap:Liabilities; us-gaap:StockholdersEquity | period offset; reference 2025-12-31; offsets BAX 0d aligned, DXCM 0d aligned, GMED 0d aligned, MDLN 0d aligned, MMM 0d aligned, PODD 0d aligned, RMD about 6 months before row reference (-184d) offset, SOLV 0d aligned, SYK 0d aligned, WST 0d aligned; tags mixed; concepts us-gaap:Liabilities, us-gaap:StockholdersEquity, us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest; concept mapping BAX -> us-gaap:Liabilities + us-gaap:StockholdersEquity; DXCM -> us-gaap:Liabilities + us-gaap:StockholdersEquity; GMED -> us-gaap:Liabilities + us-gaap:StockholdersEquity; MDLN -> us-gaap:Liabilities + us-gaap:StockholdersEquity; MMM -> us-gaap:Liabilities + us-gaap:StockholdersEquity; PODD -> us-gaap:Liabilities + us-gaap:StockholdersEquity; RMD -> us-gaap:Liabilities + us-gaap:StockholdersEquity; SOLV -> us-gaap:Liabilities + us-gaap:StockholdersEquity; SYK -> us-gaap:Liabilities + us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest; WST -> us-gaap:Liabilities + us-gaap:StockholdersEquity |

## Code-computed comparisons

- Reported net margin range: range endpoints are [BAX](/company/BAX/) (-8.51%) and [SOLV](/company/SOLV/) (18.69%). Computed from facts NUM_BAX_NET_MARGIN_FY2025 and NUM_SOLV_NET_MARGIN_FY2025; comparability: period aligned; reference 2025-12-31; offsets BAX 0d aligned, BSX 0d aligned, DXCM 0d aligned, GMED 0d aligned, MDLN 0d aligned, MMM 0d aligned, PODD 0d aligned, SOLV 0d aligned, SYK 0d aligned, WST 0d aligned; tags mixed; concepts us-gaap:NetIncomeLoss, us-gaap:ProfitLoss, us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, us-gaap:Revenues; concept mapping BAX -> us-gaap:NetIncomeLoss + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; BSX -> us-gaap:ProfitLoss + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; DXCM -> us-gaap:NetIncomeLoss + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; GMED -> us-gaap:NetIncomeLoss + us-gaap:Revenues; MDLN -> us-gaap:NetIncomeLoss + us-gaap:Revenues; MMM -> us-gaap:NetIncomeLoss + us-gaap:Revenues; PODD -> us-gaap:NetIncomeLoss + us-gaap:Revenues; SOLV -> us-gaap:NetIncomeLoss + us-gaap:Revenues; SYK -> us-gaap:NetIncomeLoss + us-gaap:Revenues; WST -> us-gaap:NetIncomeLoss + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Excluded: BDX: period not aligned (2025-Q3 vs 2025-Q4); RMD: period not aligned (2025-Q2 vs 2025-Q4).
- Latest reported revenue range: range endpoints are [PODD](/company/PODD/) (2,708,100,000) and [MDLN](/company/MDLN/) (28,432,000,000). Computed from facts NUM_PODD_REVENUE_FY2025 and NUM_MDLN_REVENUE_FY2025; comparability: period aligned; reference 2025-12-31; offsets BAX 0d aligned, BSX 0d aligned, DXCM 0d aligned, GMED 0d aligned, MDLN 0d aligned, MMM 0d aligned, PODD 0d aligned, SOLV 0d aligned, SYK 0d aligned, WST 0d aligned; tags mixed; concepts us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, us-gaap:Revenues; concept mapping BAX -> us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; BSX -> us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; DXCM -> us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; GMED -> us-gaap:Revenues; MDLN -> us-gaap:Revenues; MMM -> us-gaap:Revenues; PODD -> us-gaap:Revenues; SOLV -> us-gaap:Revenues; SYK -> us-gaap:Revenues; WST -> us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Excluded: BDX: period not aligned (2025-Q3 vs 2025-Q4); RMD: period not aligned (2025-Q2 vs 2025-Q4).

Market-risk companion: [/compare/medical-devices/risk/](/compare/medical-devices/risk/).

## Gate summary

Facts: 98. Claims survived: 0. Claims dropped: 0. Cells quarantined: 72.