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$25.6B
Market Cap
P/E
PEG
6.4%
ROCE
6.5%
ROE
0.68
D/E
7.7%
OPM
-36.7%
% from 52W High
24
α RS
🔍 MDLN is showing a sector-leadership setup because Sector RRG has Health Care in the Leading quadrant with the trail still strengthening and it matches 2 of 39 tracked screener presets. The main caution: rising_margins's Backtest win rate is only 45%. Net: Mixed signal stack, not a recommendation. ? RRG Conviction Backtest
Sources
Health Care in Leading quadrant · Conviction 2/39 · Backtest win rate 45%
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🌏 Global Investor Returns
Currency-adjusted total returns for MDLN including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
📊 Sector Averages
About

Medline Inc. manufactures med-surg products serving the hospital, surgery centers, physician offices, post-acute facilities, and nursing home sites of care in the United States and Internationally. It operates through two segments: Medline Brand and Supply Chain Solutions. The Medline Brand segment procures and manufactures products from three product categories include surgical solutions, front line care, and laboratory and diagnostics. Its front line care offers med-surg products for patient-facing needs, including wound care products, exam gloves, skin care and incontinence products, environment cleaning supplies, textiles, hand sanitizer, durable medical equipment, patient plastics, and decolonization and infection control products. Its surgical solutions provide operating room and perioperative environment product solutions, including surgical procedure trays, drapes and gowns, personal protective equipment, sterile wraps, surgical instruments, surgeon’s gloves, procedure kits, and orthopedic implants. Its laboratory and diagnostics offer laboratory and diagnostic product solutions, including point of care testing, analyzers and instrumentation, lab and diagnostic consumables, diagnostic instruments, vital signs monitors, and anatomic pathology and phlebotomy products. It provides its products to domestic and international consumers. The Supply Chain Solutions segment procures and distributes a variety of third-party products from national brands. It provides logistics and supply chain optimization services to domestic and international consumers. It also provides supply chain optimization services, such as consulting engagements, outsourced warehouse and technology management, put-away-ready packaging, third-party logistics, inventory rationalization, and route planning. The company was founded in 1966 and is based in Northfield, Illinois.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
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⭐ Superinvestors Holding MDLN
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Manager Shares Value % of Fund Period
Andreas Halvorsen Viking Global Investors 11.43M $508.8M 1.42% Mar 2026
Steve Cohen Point72 Asset Management 3.30M $147.0M 0.19% Mar 2026
Jim Simons Renaissance Technologies LLC 143.7K $6.4M 0.01% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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🎙 Management Tone Mixed ↓ Deteriorating 3 quarters Full tone analysis in Intelligence →
Mixed quarter Investor Presentation One-Pager? Q2 2026
Revenue
$7.7B
+11.6% YoY
Adjusted EBITDA
$1.06B
+13.4% YoY
Adjusted EBITDA Margin
13.8%
+0.2pp YoY
Net Income
$139M
-58.3% YoY
What Went Right
  • Q2 net sales grew 11.6% to $7.7B, with organic sales up 11.5% and full-year organic sales guidance raised to 9%-10%.
  • H1 new customer signings reached $650M+, over 65% of the $1B annual goal, with wins across acute, lab, physician, and post-acute channels.
  • Adjusted EBITDA grew 13.4% to $1.06B, H1 free cash flow was $920M, and the Tracy fire response secured 1.6M sq ft within a month.
What to Watch
  • Full-year adjusted EBITDA guidance was cut to $3.3B-$3.4B from $3.5B-$3.6B, with roughly half of the incremental pressure seen as permanent.
  • Q2 net income fell 58.3% to $139M, impacted by $336M of pre-insurance Tracy fire losses and higher costs.
  • Retail softness, $70M Middle East impact, $50M-$100M of second-half Tracy costs, and quality remediation delays (including CHG wipes) are pressuring margins.
Management Guidance
  • FY26 organic sales growth: 9.0%-10.0% (raised from 8.5%-9.5%), the second increase this year.
  • FY26 Adjusted EBITDA: $3.3B-$3.4B (cut from $3.5B-$3.6B), excluding IEEPA tariff refund benefits.
  • Q3 sales expected relatively flat sequentially; Q4 sales expected up; adjusted EBITDA expected to increase sequentially with Q4 strongest.
  • FY26 CapEx guidance updated to $500M-$600M and tax distributions narrowed to $250M-$300M.
Investor Lens
The top-line thesis is stronger after this call — 11.6% growth, raised organic guidance, and H1 signings at 65% of the annual goal. The margin thesis is weaker: adjusted EBITDA guidance was cut by roughly $200M at the midpoint, with half of the pressure viewed as permanent. Balance-sheet flexibility (2.9x leverage) is a plus, but quality remediation, retail softness, and Middle East inflation are real headwinds. The ~$5B Medline Brand conversion opportunity remains the long-term earnings driver.
From investor presentation · AI-generated analysis · Not investment advice
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📊 MIXED Revenue +11.6%, but adjusted EBITDA guidance cut to $3.3-3.4B.
Revenue
Q2 net sales were $7.7B, up 11.6% YoY (organic +11.5%), including $89M of IEEPA tariff customer repayments. Medline Brand rose 7% to $3.5B, Supply Chain Solutions rose 16% to $4.1B, and US acute care grew 15%.
Profitability
Net income was $139M, down 58.3% YoY, after $336M of pre-insurance Tracy fire losses. Adjusted EBITDA grew 13.4% to $1.06B, and adjusted diluted EPS was $0.50.
Margins
Adjusted EBITDA margin rose 20bps to 13.8%. Volume gains were partially offset by higher COGS, tariff costs, Middle East inflation, quality remediation, retail softness, and operational investments; Supply Chain Solutions adjusted EBITDA margin was cited at ~4.9%-5%.
Balance Sheet
H1 free cash flow was $920M on $207M CapEx. Cash and short-term investments totaled ~$2.65B, and net leverage was 2.9x, reaching the long-term target. CapEx guidance was raised to $500M-$600M, partly due to the Tracy fire.
Key Risks
Management flagged a $70M Middle East impact for 2026, $50M-$100M of additional H2 Tracy fire costs, and quality remediation delays including CHG wipes at Waukegan. Retail softness from a lost portion of a large customer is expected to persist through H2, and roughly half of the incremental margin impact is considered permanent.
Outlook
FY26 organic sales growth was raised to 9%-10%, while FY26 adjusted EBITDA was cut to $3.3B-$3.4B excluding IEEPA refund benefits. Management expects Q3 sales flat sequentially, Q4 sales up, and adjusted EBITDA rising each quarter with Q4 strongest.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (3 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (3)
Q2 2026 Q2 2026 2026-08-05
Q2 2026 saw 12% sales growth and a 13% rise in adjusted EBITDA, driven by strong demand and new customer wins. Guidance for organic sales was raised, but adjusted EBITDA was lowered due to inflation, Tracy fire costs, and operational investments. Margin pressures are being addressed with cost-saving initiatives.
Q1 2026 Q1 2026 2026-05-06
Q1 2026 saw 11% sales growth, driven by strong Supply Chain Solutions and new customer wins, but adjusted EBITDA fell 11% due to higher costs and tariffs. Full-year organic sales guidance was raised to 8.5%-9.5%, while EBITDA guidance remains unchanged, balancing tariff relief with operational investments and inflationary headwinds.
Q4 2025 Q4 2025 2026-02-25
Achieved double-digit sales growth and record new customer signings in 2025, with strong performance across all segments and a successful IPO strengthening the balance sheet. 2026 guidance calls for 8%-9% organic sales growth and stable EBITDA despite ongoing tariff headwinds.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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