MiniMed Group, Inc. (MMED) stock analysis
Close on Nov 12, 2026Market cap $5.03BP/E –Yield –
StockData Score
Prices as of Nov 11, 2026How the score works
Mixed13 of 30 checks passed
MiniMed passes 13 of the 30 checks behind our score; 14 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 3/6
- Growth
- 2/6
- Past performance
- 2/6
- Financial health
- 6/6
- Dividend
- 0/6
What stands out
Margin of safety over 20%
The price is 49.6% below fair value, more than the 20% cushion we look for.
Trading below fair value
The share price of $18.25 is below our fair value estimate of $36.23.
No debt
MiniMed has no borrowings on its latest balance sheet.
Interest well covered
No meaningful interest expense to cover.
What to watch
Return on capital under 10%
Return on invested capital was -4.5%, below the 10% that usually covers the cost of capital.
Gross margin slipping
Gross margin was 54.2% over the last twelve months, against 56.3% a year earlier.
No dividend
MiniMed has not paid a dividend in the last twelve months.
Valuation3/6
P/E against its history
Not enough price and earnings history to compare.
P/E against the industry
Needs positive earnings and enough profitable companies in the industry.
EV/EBITDA against its history
Needs positive EBITDA and price history.
P/B below the industry
MiniMed's price-to-book of 1.42 is below the Surgical, Medical, and Dental Instruments and Supplies median of 3.22.
Trading below fair value
The share price of $18.25 is below our fair value estimate of $36.23.
Margin of safety over 20%
The price is 49.6% below fair value, more than the 20% cushion we look for.
Growth2/6
Revenue growth over 3 years
Needs three years of positive revenue.
EPS growth over 3 years
Needs positive EPS three years ago and today.
Earnings acceleration
Needs positive net income now, a year ago and five years ago.
Growing faster than the industry
Revenue grew 14.3% over the last twelve months; the Surgical, Medical, and Dental Instruments and Supplies median is 11.0%.
Guidance raised
MiniMed raised its fiscal year 2027 Organic revenue growth outlook on Sep 1, 2026.
Gross margin slipping
Gross margin was 54.2% over the last twelve months, against 56.3% a year earlier.
Past performance2/6
Return on equity
Needs positive equity and five years of results.
Return on capital under 10%
Return on invested capital was -4.5%, below the 10% that usually covers the cost of capital.
Return on equity above the industry
MiniMed's return on equity of -9.6% is above the Surgical, Medical, and Dental Instruments and Supplies median of -31.3%.
Earnings over 5 years
Needs positive net income five years ago and in the latest year.
Net margin against its history
Needs five years of revenue and net income.
Net margin above the industry
MiniMed's net margin of -10.7% is above the Surgical, Medical, and Dental Instruments and Supplies median of -14.1%.
Financial health6/6
No debt
MiniMed has no borrowings on its latest balance sheet.
Debt not rising
With no debt today, leverage cannot have risen.
Debt covered by cash flow
There is no debt to cover.
Interest well covered
No meaningful interest expense to cover.
Short-term assets cover short-term debts
Current assets are 1.81 times current liabilities.
Low bankruptcy risk
The Altman Z-score is 3.46; above 3 is the safe zone and below 1.8 the distress zone.
Dividend0/6
No dividend
MiniMed has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.
Fair value
How we estimate itOur estimate per share
$36.23
The share price is 50% below this estimate.
| Method | Multiple used | Own 5Y median | Industry median | Value per share | Weight |
|---|---|---|---|---|---|
| P/B | 3.2× | – | 3.2× | $41.37 | 50% |
| P/S | 2.8× | – | 2.8× | $31.08 | 50% |
| Fair value | $36.23 | 100% | |||
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
Low risk
- Average value traded per day
- $263.18M
- Value traded per 1% price move
- $29.76M
Downside
- Typical loss in a bad month
- –
- Volatility (annualized)
- 58%
- Sharpe ratio, 1 year
- –
- Beta to the S&P 500 (5Y)
- –
Margins
Share of revenue, fiscal years 2023 to 2026
Gross margin
Operating margin
Net margin
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +14.3% | – | – | – | |
| Gross profit | +9.9% | – | – | – |
Returns and balance sheet
4 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2023 | FY2023 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | -9.6% | |
| Current ratio | – | – | 1.92 | |
| Capex to revenue | – | – | 7.2% | |
| Diluted shares | – | – | 257M |
Cash use needs five years of cash flow figures
MiniMed does not report operating cash flow and capital expenditure for each of the last five fiscal years.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | -10.7% | 0.70× | 1.27× | -9.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
- ProfitableNet income above zero-$333.00M
- Cash generatingOperating cash flow above zero-$197.00M
- Return on assets improvedROA up on the prior year– → -7.9%
- Earnings backed by cashOperating cash flow above net income-$197.00M vs -$333.00M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.32 → 1.92
- No dilutionShare count did not rise253M → 257M
- Gross margin improvedGross margin up on the prior year56.28% → 54.16%
- More efficientAsset turnover rose– → 0.74
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