Medline Inc.
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+ FollowMarket Cap$34.68B
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Earnings Call Q3 2026
November 4, 2026 - AI Summary
Strong operating momentum in 3Q26 (broad-based growth)
- Net sales +10% YoY to $7.9B; Medline Brand +7% (all categories) and Supply Chain Solutions +14% (new prime vendor implementations + existing customer growth).
- Adjusted EBITDA +12% YoY to ~$1.0B; margin up ~10 bps to 12.2%.
- Sales growth was almost entirely organic with minimal FX impact; supply chain growth should also create future Medline Brand conversion opportunity.
Raising 2026 outlook; 2027 framework signals continued growth but margin headwinds
- 2026 organic sales guidance raised again to 10%–10.5% (from 9%–10% previously).
- 2026 Adjusted EBITDA guidance reaffirmed at $3.3B–$3.4B (expect to land near the midpoint).
- 2027 (not full guidance, but preliminary framework):
- Net sales growth expected high single digits.
- Adjusted EBITDA growth expected low-to-mid single digits (intentionally slower than sales due to costs/investments).
- Assumes tariffs remain at current levels through 2027 and no IEEPA tariff refund “distortion” in the earnings framework.
Margin pressure drivers are clear (inflation + mix + investments/quality), with key assumptions
- Inflation tied to Middle East conflict + input costs: 2026 inflation estimate increased to ~$80M (vs ~$70M prior), and 2027 assumes costs remain elevated for the full year (diesel near $6.25 and other inputs at current levels).
- Mix pressure: Supply Chain Solutions has lower initial margin (first-year rebates), and acute care/prime vendor mix can weigh on consolidated margins.
- Quality & capacity investments continue (global quality action plan; network automation/capacity builds).
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$43.70
10.7% upside
Current Fair Value
10.7% upsideUndervalued by 10.7% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $34.68 Billion |
|---|---|
| Enterprise Value | $44.94 Billion |
| Earnings per Share | $1.43 |
| Beta | -0.39 |
| Outstanding Shares | 876,467,488 |
Return
| Return on Equity | 4.78% |
|---|---|
| Return on Assets | 1.40% |
| Return on Invested Capital | 4.72% |
Valuation & Multiples
| P/E Ratio | 58.91 |
|---|---|
| PEG | -149.36 |
| Price to Sales | 1.13 |
| Price to Book Ratio | 1.79 |
| Enterprise Value to Revenue | 1.46 |
| Enterprise Value to EBIT | 25.68 |
| Enterprise Value to Net Income | 79 |
| Total Debt to Enterprise | 0.28 |
| Debt to Equity | 1.07 |
Revenue Sources
No data
Last Earnings Call
Report Date
November 10, 2026
EPS Estimate
$0.38
Consensus analyst estimateRevenue Estimate
$7.72 B
Consensus analyst estimateNext Earnings Call
Expected Date
February 24, 2027
EPS Estimate
$0.39
Consensus analyst estimateRevenue Estimate
$8.50 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 1.02, calls and puts are about even.
| Put/Call Ratio | 1.0185▼ 28.30% |
|---|---|
| Total Calls | 32,400▼ 97.45% |
| Total Puts | 33,000▼ 98.01% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 29.82%▼ 74.49% |
|---|---|
| Total Invested | $8.89B▼ 73.63% |
| Investors Holding | 186▼ 239.00% |
About Medline Inc.
43,000 employees
CEO: James Boyle
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: Medli...