Security
Medline Inc. Class A Common Stock · MDLN
MDLNNASDAQCommon stockCurrentCIK 2046386Updated Nov 9, 2026
MDLN price & chart
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NASDAQ:MDLN on TradingView ↗About the company
We are the largest provider of medical-surgical (“med-surg”) products and supply chain solutions serving all points of care, based on total net sales of med-surg products. We deliver mission-critical products used daily across the full range of care settings, from hospitals and surgery centers to physician offices and post-acute facilities. Through our two segments, Medline Brand and Supply Chain Solutions, we offer approximately 335,000 med-surg products, including surgical and procedural kits, gloves and protective apparel, urological and incontinence care, wound care, and consumable lab and diagnostics products. We hold the leading position across several of our end markets and many of our key product families. We distribute these products through our expansive network of 70 global distribution facilities, spanning over 29 million square feet of warehouse space, and our owned fleet of over 2,100 MedTrans trucks, enabling us to provide next-day delivery to 95% of our U.S. customers. Our integrated business model and customer-centric culture drives lower costs and better value for our stakeholders. This is the foundation for our durable recurring revenue base, with our net sales h…
In the news
INVESTOR ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Medline Inc. - MDLN ↗
$MDLN Shareholder Notice: A Securities Fraud Investigation is Ongoing on behalf of Medline Investors with Losses – Contact BFA Law ↗
INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Medline Industries, Inc. - MDLN ↗
Recent filings
Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | Q2 2026 | Q2 2025 | Q1 2026 | Q1 2025 | FY 2025 | FY 2024 |
|---|---|---|---|---|---|---|
| ASSETS | ||||||
| AssetsUSD | 39,350,000,000Source | — | 39,014,000,000Source | — | 38,484,000,000Source | 35,978,000,000Source |
| Property, Plant and Equipment, NetUSD | 4,697,000,000Source | — | 4,758,000,000Source | — | 4,778,000,000Source | 4,595,000,000Source |
| GoodwillUSD | 8,072,000,000Source | — | 8,076,000,000Source | — | 8,079,000,000Source | 8,065,000,000Source |
| Intangible Assets, Net (Excluding Goodwill)USD | 13,538,000,000Source | — | 13,717,000,000Source | — | 13,893,000,000Source | 14,559,000,000Source |
| Current assets: | ||||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 2,327,000,000Source | — | 2,236,000,000Source | — | 1,939,000,000Source | 199,000,000Source |
| Accounts Receivable, after Allowance for Credit Loss, CurrentUSD | 3,661,000,000Source | — | 3,674,000,000Source | — | 3,533,000,000Source | 3,219,000,000Source |
| Inventory, NetUSD | 4,665,000,000Source | — | 4,807,000,000Source | — | 4,769,000,000Source | 4,456,000,000Source |
| Assets, CurrentUSD | 11,742,000,000Source | — | 11,180,000,000Source | — | 10,679,000,000Source | 8,272,000,000Source |
| Operating Lease, Right-of-Use AssetUSD | — | — | — | — | 432,000,000Source | 384,000,000Source |
| Other Assets, NoncurrentUSD | 22,911,000,000Source | — | 23,076,000,000Source | — | 23,027,000,000Source | 23,111,000,000Source |
| LIABILITIES AND EQUITY | ||||||
| LiabilitiesUSD | 20,273,000,000Source | — | 19,665,000,000Source | — | 19,198,000,000Source | 19,454,000,000Source |
| Stockholders’ equity: | ||||||
| Preferred Stock, Value, IssuedUSD | 0Source | — | 0Source | — | 0Source | — |
| Additional Paid in CapitalUSD | 11,396,000,000Source | — | 11,132,000,000Source | — | 10,717,000,000Source | — |
| Retained Earnings (Accumulated Deficit)USD | 182,000,000Source | — | 122,000,000Source | — | -7,000,000Source | — |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | -6,000,000Source | — | 18,000,000Source | — | 27,000,000Source | 11,000,000Source |
| Stockholders' Equity Attributable to ParentUSD | 11,572,000,000Source | — | 11,272,000,000Source | — | 10,737,000,000Source | — |
| Liabilities and EquityUSD | 39,350,000,000Source | — | 39,014,000,000Source | — | 38,484,000,000Source | 35,978,000,000Source |
| Current liabilities: | ||||||
| Liabilities, CurrentUSD | 2,710,000,000Source | — | 2,536,000,000Source | — | 2,490,000,000Source | 2,440,000,000Source |
| Operating Lease, Liability, CurrentUSD | 63,000,000Source | — | 65,000,000Source | — | 66,000,000Source | 76,000,000Source |
| Accounts Payable, CurrentUSD | 1,043,000,000Source | — | 932,000,000Source | — | 961,000,000Source | 869,000,000Source |
| Operating Lease, Liability, NoncurrentUSD | — | — | — | — | 386,000,000Source | 329,000,000Source |
| Other Liabilities, NoncurrentUSD | 623,000,000Source | — | 625,000,000Source | — | 682,000,000Source | 598,000,000Source |
| Stockholders' Equity Attributable to Noncontrolling InterestUSD | 7,505,000,000Source | — | 8,077,000,000Source | — | 8,549,000,000Source | — |
| Additional Financial Items | ||||||
| Accrued Liabilities, CurrentUSD | 1,638,000,000Source | — | 1,527,000,000Source | — | 1,452,000,000Source | 1,493,000,000Source |
| Deferred Tax Liabilities, NetUSD | — | — | — | — | — | 195,000,000Source |
| Long-term Debt, Current MaturitiesUSD | 28,000,000Source | — | 76,000,000Source | — | 76,000,000Source | 76,000,000Source |
| Long-term Debt, Excluding Current MaturitiesUSD | 12,548,000,000Source | — | 12,495,000,000Source | — | 12,484,000,000Source | 16,416,000,000Source |
| Partners' CapitalUSD | — | 16,584,000,000Source | — | 16,490,000,000Source | — | 16,158,000,000Source |
| Short-term Investments | —Source | — | — | — | — | — |
cash flow · annual statements
| Line item | Q2 2026 | Q2 2025 | Q1 2026 | Q1 2025 | FY 2025 | FY 2024 |
|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | 139,000,000Source | — | 239,000,000Source | — | — | 1,163,000,000Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
| Depreciation, Depletion and AmortizationUSD | — | — | 254,000,000Source | 247,000,000Source | 1,011,000,000Source | 977,000,000Source |
| Share-based Payment Arrangement, Noncash ExpenseUSD | — | — | 23,000,000Source | 19,000,000Source | 76,000,000Source | 61,000,000Source |
| Changes in operating assets and liabilities: | ||||||
| Increase (Decrease) in Accounts ReceivableUSD | — | — | 146,000,000Source | 98,000,000Source | 355,000,000Source | 256,000,000Source |
| Increase (Decrease) in InventoriesUSD | — | — | 42,000,000Source | -71,000,000Source | 264,000,000Source | 545,000,000Source |
| Increase (Decrease) in Accounts PayableUSD | — | — | 6,000,000Source | 35,000,000Source | 73,000,000Source | 106,000,000Source |
| Deferred Income Tax Expense (Benefit)USD | — | — | 37,000,000Source | -4,000,000Source | -20,000,000Source | -24,000,000Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | — | — | 412,000,000Source | 682,000,000Source | 1,744,000,000Source | 1,769,000,000Source |
| Cash flows from investing activities: | ||||||
| Payments to Acquire Businesses, Net of Cash AcquiredUSD | — | — | 0Source | -6,000,000Source | -6,000,000Source | 1,126,000,000Source |
| Net Cash Provided by (Used in) Investing ActivitiesUSD | — | — | -96,000,000Source | -92,000,000Source | -474,000,000Source | -1,493,000,000Source |
| Payments for (Proceeds from) Other Investing ActivitiesUSD | — | — | — | — | 0Source | 3,000,000Source |
| Payments to Acquire Property, Plant, and EquipmentUSD | — | — | 96,000,000Source | 98,000,000Source | 447,000,000Source | 354,000,000Source |
| Cash flows from financing activities: | ||||||
| Payments for Repurchase of Common StockUSD | — | — | 0Source | 9,000,000Source | 33,000,000Source | 20,000,000Source |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | — | — | -13,000,000Source | -9,000,000Source | 399,000,000Source | -1,613,000,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | — | — | 296,000,000Source | 590,000,000Source | 1,692,000,000Source | -1,335,000,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 2,329,000,000Source | 584,000,000Source | 2,238,000,000Source | 840,000,000Source | 1,942,000,000Source | 250,000,000Source |
| Supplemental disclosure of cash flow information: | ||||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | — | — | 61,000,000Source | 136,000,000Source | 944,000,000Source | 1,022,000,000Source |
| Income Taxes Paid, NetUSD | — | — | — | — | 62,000,000Source | 101,000,000Source |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | — | — | -7,000,000Source | 9,000,000Source | 23,000,000Source | 2,000,000Source |
| Additional Financial Items | ||||||
| Share-based Payment Arrangement, ExpenseUSD | 29,000,000Source | 15,000,000Source | 23,000,000Source | 19,000,000Source | 79,000,000Source | 61,000,000Source |
| Amortization of Debt Issuance CostsUSD | — | — | 11,000,000Source | 15,000,000Source | 59,000,000Source | 57,000,000Source |
| Amortization of Intangible AssetsUSD | 177,000,000Source | 176,000,000Source | 176,000,000Source | 175,000,000Source | 704,000,000Source | 685,000,000Source |
| DepreciationUSD | — | — | — | — | 307,000,000Source | 292,000,000Source |
| Foreign Currency Transaction Gain (Loss), before TaxUSD | 1,000,000Source | -60,000,000Source | 4,000,000Source | -23,000,000Source | -88,000,000Source | 7,000,000Source |
| Foreign Currency Transaction Gain (Loss), UnrealizedUSD | — | — | 12,000,000Source | -29,000,000Source | -68,000,000Source | 10,000,000Source |
| Gain (Loss) on Extinguishment of DebtUSD | — | — | — | — | -58,000,000Source | -32,000,000Source |
| GoodwillUSD | 8,072,000,000Source | — | 8,076,000,000Source | — | 8,079,000,000Source | 8,065,000,000Source |
| Income Tax Expense (Benefit)USD | 96,000,000Source | 26,000,000Source | 52,000,000Source | 16,000,000Source | 91,000,000Source | 46,000,000Source |
| InterestExpenseNonoperatingUSD | 168,000,000Source | 253,000,000Source | 165,000,000Source | 244,000,000Source | 945,000,000Source | 1,144,000,000Source |
| Investment Income, InterestUSD | 49,000,000Source | 30,000,000Source | 29,000,000Source | 34,000,000Source | 133,000,000Source | 280,000,000Source |
| Net Income (Loss) Attributable to ParentUSD | — | 329,000,000Source | — | 319,000,000Source | 1,159,000,000Source | — |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | 79,000,000Source | 0Source | 110,000,000Source | 0Source | -2,000,000Source | — |
| Nonoperating Income (Expense)USD | -160,000,000Source | -283,000,000Source | -131,000,000Source | -233,000,000Source | -964,000,000Source | -900,000,000Source |
| Operating ExpensesUSD | 1,820,000,000Source | 1,263,000,000Source | 1,419,000,000Source | 1,253,000,000Source | 5,306,000,000Source | 4,830,000,000Source |
| Other Nonoperating Income (Expense)USD | -42,000,000Source | 0Source | 1,000,000Source | 0Source | -64,000,000Source | -43,000,000Source |
| Other Operating Income (Expense), NetUSD | -348,000,000Source | -14,000,000Source | -15,000,000Source | -8,000,000Source | -78,000,000Source | -37,000,000Source |
| Net Income (Loss) Available to Common Stockholders, Basic | —Source | — | —Source | — | — | — |
income statement · annual statements
| Line item | Q2 2026 | Q2 2025 | Q1 2026 | Q1 2025 | FY 2025 | FY 2024 |
|---|---|---|---|---|---|---|
| Total RevenueUSD | 7,685,000,000Source | 6,886,000,000Source | 7,352,000,000Source | 6,644,000,000Source | 28,432,000,000Source | 25,507,000,000Source |
| Cost of RevenueUSD | 5,470,000,000Source | 4,981,000,000Source | 5,511,000,000Source | 4,820,000,000Source | 20,914,000,000Source | 18,531,000,000Source |
| Selling, General and Administrative ExpenseUSD | 1,295,000,000Source | 1,073,000,000Source | 1,228,000,000Source | 1,070,000,000Source | 4,524,000,000Source | 4,108,000,000Source |
| Operating Income (Loss)USD | 395,000,000Source | 642,000,000Source | 422,000,000Source | 571,000,000Source | 2,212,000,000Source | 2,146,000,000Source |
| Other Nonoperating Income (Expense)USD | -42,000,000Source | 0Source | 1,000,000Source | 0Source | -64,000,000Source | -43,000,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | 235,000,000Source | 359,000,000Source | 291,000,000Source | 338,000,000Source | 1,248,000,000Source | 1,246,000,000Source |
| Income Tax Expense (Benefit)USD | 96,000,000Source | 26,000,000Source | 52,000,000Source | 16,000,000Source | 91,000,000Source | 46,000,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | 79,000,000Source | 0Source | 110,000,000Source | 0Source | -2,000,000Source | — |
| Net Income (Loss) Attributable to ParentUSD | — | 329,000,000Source | — | 319,000,000Source | 1,159,000,000Source | — |
| Earnings Per Share, BasicUSD per share | 0.07Source | — | 0.16Source | — | -0.01Source | — |
| Earnings Per Share, DilutedUSD per share | 0.07Source | — | 0.16Source | — | -0.01Source | — |
| Weighted Average Number of Shares Outstanding, Basicshares | 856,671,262Source | — | 819,082,538Source | — | 810,000,000Source | — |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 860,890,719Source | — | 824,836,037Source | — | 810,000,000Source | — |
| Interest Expense (non-operating)USD | 168,000,000Source | 253,000,000Source | 165,000,000Source | 244,000,000Source | 945,000,000Source | 1,144,000,000Source |
| Additional Financial Items | ||||||
| Amortization of Intangible AssetsUSD | 177,000,000Source | 176,000,000Source | 176,000,000Source | 175,000,000Source | 704,000,000Source | 685,000,000Source |
| Current Income Tax Expense (Benefit)USD | — | — | — | — | 111,000,000Source | 70,000,000Source |
| Foreign Currency Transaction Gain (Loss), before TaxUSD | 1,000,000Source | -60,000,000Source | 4,000,000Source | -23,000,000Source | -88,000,000Source | 7,000,000Source |
| Gross ProfitUSD | 2,215,000,000Source | 1,905,000,000Source | 1,841,000,000Source | 1,824,000,000Source | 7,518,000,000Source | 6,976,000,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, DomesticUSD | — | — | — | — | 929,000,000Source | 952,000,000Source |
| Interest Income (Expense), Nonoperating, NetUSD | -119,000,000Source | -223,000,000Source | -136,000,000Source | -210,000,000Source | -812,000,000Source | -864,000,000Source |
| Investment Income, InterestUSD | 49,000,000Source | 30,000,000Source | 29,000,000Source | 34,000,000Source | 133,000,000Source | 280,000,000Source |
| Lease IncomeUSD | — | — | — | — | 17,000,000Source | 15,000,000Source |
| Nonoperating Income (Expense)USD | -160,000,000Source | -283,000,000Source | -131,000,000Source | -233,000,000Source | -964,000,000Source | -900,000,000Source |
| Operating ExpensesUSD | 1,820,000,000Source | 1,263,000,000Source | 1,419,000,000Source | 1,253,000,000Source | 5,306,000,000Source | 4,830,000,000Source |
| Other Operating Income (Expense), NetUSD | -348,000,000Source | -14,000,000Source | -15,000,000Source | -8,000,000Source | -78,000,000Source | -37,000,000Source |
| Research and Development ExpenseUSD | — | — | — | — | 80,000,000Source | 67,000,000Source |
| Net Income (Loss) Available to Common Stockholders, Basic | —Source | — | —Source | — | — | — |
| Preferred Stock Dividends and Other Adjustments | —Source | — | —Source | — | — | — |
Offerings
Registration 333-296044
- Gross proceeds
- 2684519978.0
- Net proceeds
- 2650963478.0
- Deal price
- 37.0
- Shares
- 72554594
- Offering price
- $37.00
- Ticker
- MDLN
Underwriters: Goldman Sachs & Co. LLC, Evercore Group L.L.C., BMO Capital Markets Corp., BNP Paribas Securities Corp., MUFG Securities Americas Inc., RBC Capital Markets, LLC, Santander US Capital Markets LLC, TD Securities LLC, Wells Fargo Securities, LLC, Nomura Securities International, Inc., Leerink Partners LLC, Morgan Stanley & Co. LLC, Macquarie Capital Inc., Mizuho Securities USA LLC, Piper Sandler & Co., Truist Securities, Inc., William Blair & Company, L.L.C., Rothschild & Co US Inc., Stifel, Nicolaus & Company, Incorporated, BTIG, LLC, Loop Capital Markets LLC, BofA Securities, Inc., J.P. Morgan Securities LLC, Blackstone Securities Partners L.P., Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Jefferies LLC, UBS Securities LLC
Registration 333-296149
Registration 333-293954
- Gross proceeds
- 3075000000.0
- Net proceeds
- 3038100000.0
- Deal price
- 41.0
- Shares
- 75000000
- Offering price
- $41.00
- Ticker
- MDLN
Underwriters: Goldman Sachs & Co. LLC, Evercore Group L.L.C., BMO Capital Markets Corp., BNP Paribas Securities Corp., MUFG Securities Americas Inc., RBC Capital Markets, LLC, Santander US Capital Markets LLC, TD Securities LLC, Wells Fargo Securities, LLC, Nomura Securities International, Inc., Leerink Partners LLC, Morgan Stanley & Co. LLC, Macquarie Capital Inc., Mizuho Securities USA LLC, Piper Sandler & Co., Truist Securities, Inc., William Blair & Company, L.L.C., Rothschild & Co US Inc., Stifel, Nicolaus & Company, Incorporated, BTIG, LLC, Loop Capital Markets LLC, BofA Securities, Inc., J.P. Morgan Securities LLC, Blackstone Securities Partners L.P., Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Jefferies LLC, UBS Securities LLC
Registration 333-291112
- Gross proceeds
- 6264999978.0
- Net proceeds
- 6128524514.69
- Deal price
- 29.0
- Shares
- 216034482
- Offering price
- $29.00
- Ticker
- MDLN
Filing attachments
d50280dex41.htm · 8-K · 2026-06-02
EX-4.1 2 d50280dex41.htm EX-4.1 EX-4.1 Exhibit 4.1 INDENTURE Dated as of May 28, 2026 Among MEDLINE BORROWER, LP, as the Issuer, MEDLINE CO-ISSUER, INC., as the Co-Issuer, MEDLINE INTERMEDIATE, LP, as Holdings, the Subsidiary Guarantors named herein, and WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee, Paying Agent, Transfer Agent, Registrar and Notes Collateral Agent $1,250,000,000 5.000% SENIOR SECURED NOTES DUE 2031 $750,000,000 5.250% SENIOR SECURED NOTES DUE 2033 TABLE …
Read attachment ↗ex413descriptionofregister.htm · 10-K · 2026-02-25
Exhibit 4.13 DESCRIPTION OF SECURITIES REGISTERED PURSUANT TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934 The following is a description of the capital stock of Medline Inc. (the “Company,” “we,” “us,” and “our”) and the material provisions of our amended and restated certificate of incorporation and our amended and restated bylaws and of the General Corporation Law of the State of Delaware (the “DGCL”). Our Class A common stock, par value $0.0001 per share (the “Class A common stock is …
Read attachment ↗d932091dex107.htm · S-1 · 2025-10-28
EX-10.7 15 d932091dex107.htm EX-10.7 EX-10.7 Exhibit 10.7 SUPPORT AND SERVICES AGREEMENT This SUPPORT AND SERVICES AGREEMENT (this “Agreement”) is dated as of October 21, 2021 and is between Mozart Holdings, LP, a Delaware limited partnership (“Holdco”), Medline Industries, LP, an Illinois limited partnership and an indirect wholly owned subsidiary of Holdco (the “Company”), Blackstone Capital Partners VIII L.P., a Delaware limited partnership (together with its alternative investment veh…
Read attachment ↗d932091dex41.htm · S-1 · 2025-10-28
EX-4.1 2 d932091dex41.htm EX-4.1 EX-4.1 Exhibit 4.1 INDENTURE Dated as of October 15, 2021 Between MOZART DEBT MERGER SUB INC., as the Escrow Issuer, and WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee, Paying Agent, Transfer Agent and Registrar $2,500,000,000 5.250% SENIOR NOTES DUE 2029 TABLE OF CONTENTS Page ARTICLE 1 DEFINITIONS AND INCORPORATION BY REFERENCE …
Read attachment ↗d932091dex410.htm · S-1 · 2025-10-28
EX-4.10 11 d932091dex410.htm EX-4.10 EX-4.10 Exhibit 4.10 FIRST SUPPLEMENTAL INDENTURE This FIRST SUPPLEMENTAL INDENTURE, dated as of June 24, 2024 (this “First Supplemental Indenture”), is entered into by and among Medline Borrower, LP, a Delaware limited partnership (the “Issuer”), Medline Co-Issuer, Inc., a Delaware corporation (the “Co-Issuer” and, together with the Issuer, the “Issuers”), Medline Intermediate, LP, a Delaware limited partnership (“Holdings”), the subsidiary guarantors…
Read attachment ↗d932091dex411.htm · S-1 · 2025-10-28
EX-4.11 12 d932091dex411.htm EX-4.11 EX-4.11 Exhibit 4.11 SUPPLEMENTAL INDENTURE Second Supplemental Indenture (this “Supplemental Indenture”), dated as of July 19, 2024, among each of the subsidiaries of Medline Borrower, LP, a Delaware limited partnership (the “Issuer”), listed on the signature pages hereto (collectively, the “Guaranteeing Subsidiaries” and each, a “Guaranteeing Subsidiary”), and Wilmington Trust, National Association, a national banking association, as trustee (in such…
Read attachment ↗