Summary
Medline Inc. (MDLN) reported strong performance for the fiscal year ended December 31, 2025, with net sales reaching $28.4 billion, a 11.5% increase year-over-year. This growth was primarily driven by increased volumes across its Prime Vendor relationships and its Medline Brand products. The company's strategy of leveraging its Prime Vendor model, differentiated distribution network, and robust commercial platform continues to yield positive results, evidenced by over 1,600 Prime Vendor relationships contributing significantly to revenue. Despite an 11.5% increase in net sales, net income saw a slight decrease of 3.6% to $1.16 billion, impacted by higher cost of goods sold and increased selling, general, and administrative expenses. Notably, tariffs had a $290 million adverse impact on income before taxes. The company's Medline Brand segment showed solid net sales growth of 9.6%, while the Supply Chain Solutions segment experienced a notable 13.2% increase in net sales. Medline Inc. also successfully completed its Initial Public Offering (IPO) in December 2025, generating substantial proceeds that were used to repay debt and for general corporate purposes.
Financial Highlights
52 data points| Revenue | $28.43B |
| Cost of Revenue | $20.91B |
| Gross Profit | $7.52B |
| R&D Expenses | $80.00M |
| SG&A Expenses | $4.52B |
| Operating Expenses | $5.31B |
| Operating Income | $2.21B |
| Net Income | $1.16T |
| EPS (Basic) | $-0.01 |
| EPS (Diluted) | $-0.01 |
| Shares Outstanding (Basic) | 810.00M |
| Shares Outstanding (Diluted) | 810.00M |
Key Highlights
- 1Net sales increased by 11.5% to $28.4 billion in fiscal year 2025, driven by volume growth.
- 2The Prime Vendor model remains a key growth driver, with over 1,600 relationships contributing $18.0 billion in net sales.
- 3Medline Brand segment net sales grew by 9.6% to $13.7 billion, with strong performance in Surgical Solutions.
- 4Supply Chain Solutions segment net sales increased by 13.2% to $14.7 billion, supported by Prime Vendor growth.
- 5Net income decreased by 3.6% to $1.16 billion, primarily due to increased cost of goods sold and SG&A expenses.
- 6Tariffs had a significant adverse impact of $290 million on income before taxes.
- 7The company successfully completed its Initial Public Offering (IPO) in December 2025, raising substantial capital.