Medline Inc. (MDLN) intrinsic value & 10-year financials

Medline Inc. (MDLN) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 4 fiscal years revenue grew 10.6% a year to $28.4B, with an average return on invested capital of 9.4%.

Graham intrinsic value
—
Share price (Oct 17, 2026)
$35.96
Market cap
$29.1B
Revenue (FY2025)
$28.4B
Revenue growth (4-yr CAGR)
10.6%
ROIC (10-yr avg)
9.4%
Free cash flow (FY2025)
$1.3B

MDLN 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $28.4B $1.2B -$0.01 $1.3B 7.8% 9.4%
FY2024 $25.5B $1.2B — $1.4B 8.4% —
FY2023 $23.2B $234.0M — $1.4B 5.4% —
FY2022 — — — — — —

Source: annual 10-K filings on SEC EDGAR. Figures in USD.

Executive summary

Medline Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.

Medline Inc. returns on capital have been average, hovering around 9.4% ROIC over the decade.

Medline Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.

Benjamin Graham lens

Under Benjamin Graham's formula using SEC EDGAR fundamentals, Medline Inc. is modeled at 10.6% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-0.26 per share.

MDLN stock: frequently asked questions

What is the intrinsic value of Medline Inc. (MDLN) stock?

Graham's formula only works with positive earnings. Medline Inc. reported diluted EPS of -$0.01 in fiscal 2025, so no Graham value is shown. The 10-year table shows revenue and cash-flow trends instead.

Does Medline Inc. generate free cash flow?

Medline Inc. generated $1.3B of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 3 of the last 3 reported years.

What is MDLN's return on invested capital?

Average ROIC over the last 4 fiscal years was 9.4%, and average return on equity was 10.8%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this MDLN data come from?

From Medline Inc.'s annual 10-K filings on SEC EDGAR. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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