# Medline Class A Common Stock (MDLN.US)

Canonical: https://gigainvestors.com/s/MDLN

Analysis as of: 2026-10-16T07:30:07.846Z. 

Listing currency: USD. Reporting currency: USD.

## Verdict

Not enough history yet

Quality tests for Buy: not passed (profit record: fail; earnings resilience is evidence only). Published buy qualification: no.

Share price: $36.57 per share; close as of 2026-10-15.

## Checklist

### understandable: na

### moat: na

### economics: na

### management: na

### accounting: na

## Holders

- [Henry Ellenbogen](https://gigainvestors.com/DCP): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [John Armitage](https://gigainvestors.com/EC): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Stephen Mandel](https://gigainvestors.com/LPC): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Andreas Halvorsen](https://gigainvestors.com/vg): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Down 23% since Feb 2026 · "Artisan Sold Medline (MDLN) as Cost Pressures Delayed the Company’s Profit Recovery" (finance.yahoo.com, Sep 2026)

Story as of 2026-10-16T09:59:08.672Z; price observation 2026-10-15.

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in medical instruments & supplies; annual sales are USD 28.4 billion.

- Source: https://www.sec.gov/Archives/edgar/data/2046386/000204638626000009/mdln-20251231.htm (filed 2026-02-25); FY2025: revenue 28432000000; grossProfit 7518000000; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); MDLN.US: 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.

### Why customers stay

Margins ranged from 22.5% to 26.4% during 2023–25.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-25); FY2023: grossProfit / revenue = 22.5%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-25); FY2024: grossProfit / revenue = 24.7%.

- Source: https://www.sec.gov/Archives/edgar/data/2046386/000204638626000009/mdln-20251231.htm (filed 2026-02-25); FY2025: grossProfit / revenue = 26.4%.

### Where the cash goes

Reinvests 0.3% of cash earnings; paid dividends in 2 of 4 years.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-25); FY2022: growth capex 0; upkeep 254000000; owner earnings 654000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-25); FY2023: growth capex 0; upkeep 285000000; cash acquisitions 16000000; owner earnings 900000000. Growth capex plus acquisitions / owner earnings = 0.017777777777777778.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-25); FY2024: growth capex 0; upkeep 364000000; cash acquisitions 1126000000; owner earnings 1813000000. Growth capex plus acquisitions / owner earnings = 0.6210700496414782.

- Source: https://www.sec.gov/Archives/edgar/data/2046386/000204638626000009/mdln-20251231.htm (filed 2026-02-25); FY2025: growth capex 0; upkeep 447000000; cash acquisitions 6000000; owner earnings 1723000000. Growth capex plus acquisitions / owner earnings = 0.003482298316889147.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-25); Dividend observations: [[2022,0],[2023,114000000],[2024,0],[2025,518000000]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://www.sec.gov/Archives/edgar/data/2046386/000204638626000009/mdln-20251231.htm (filed 2026-02-25); FY2025: cash repurchases 2003000000 USD.

### Are managers owners

Insiders own 0.3% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); MDLN.US SharesStats.PercentInsiders = 0.258 percentage points; cache date 2026-10-16.

### What the price says

The price is 1 times annual sales.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-25); Closing price 36.57 USD; reporting-to-trading FX 1; FY2025 annual sales per share 35.10123456790124; price multiple 1.0418436972425436. FY2025 cash earnings/share 2.1271604938271604. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2025-12: $42.00 per share

- 2026-01: $44.20 per share

- 2026-02: $47.51 per share

- 2026-03: $44.50 per share

- 2026-04: $44.47 per share

- 2026-05: $36.56 per share

- 2026-06: $39.44 per share

- 2026-07: $39.28 per share

- 2026-08: $35.03 per share

- 2026-09: $34.70 per share

- 2026-10: $35.70 per share

## Annual estimated value (USD per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 10-K filing](https://www.sec.gov/Archives/edgar/data/2046386/000204638626000009/mdln-20251231.htm); period 2025-12-31, filed 2026-02-25.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.