Medline IPO: revenue, profit and offering terms from its S-1
Medline priced its IPO at $29 a share on 18 Dec 2025 and raised $6.3 billion. Its shares trade on Nasdaq as MDLN. Revenue was $25.5 billion in 2024, up 10% from 2023, with a net profit of $1.2 billion.
Headlines
- Revenue, 2024
- $25.5B
- Up 10% on the year before
- Net income, 2024
- $1.2B
- Revenue, First nine months of 2025
- $20.6B
- Up 10% on a year earlier
- IPO price
- $29
- $6.3B raised
Medline IPO terms
From the final prospectus (424B4).
- Exchange
- Nasdaq Global Select Market
- Ticker
- MDLN
- IPO price
- $29
- Shares offered
- 216,034,482
- Raised
- $6.3B
- Registered
- $2.7B, the amount the filing fee is paid on
- Underwriters
- Goldman Sachs & Co. LLC, Morgan Stanley, BofA Securities and J.P. Morgan
- First filed
- 28 Oct 2025
Medline revenue and profit
| Period | Revenue | Operating income | Net income |
|---|---|---|---|
| 2023 | $23.2B | - | $234M |
| 2024 | $25.5B | $2.1B | $1.2B |
| First nine months of 2024 | $18.7B | - | - |
| First nine months of 2025 | $20.6B | $1.8B | $977M |
Medline share structure and company facts
- Share classes and votes
- Class A: 1 vote, Class B: 1 vote
- Employees
- 38,000
- Headquarters
- Northfield, Illinois
Medline shares since the IPO
Latest close 26 Oct 2026
- IPO price
- $29
- Priced 18 Dec 2025
- First close
- $39.50
- +36% on the IPO price
- Latest close
- $33.69
- +16% on the IPO price
Medline's IPO filings
The registration statement, each amendment and the final prospectus, oldest first.
About the data
- Terms and financials are read from Medline's newest prospectus (424B4 filed 18 Dec 2025) by a Kadoa workflow. Check figures that matter against the filing.
- Registered is the amount the filing fee is paid on, often a placeholder before the price range is set.
- Raised is the IPO price times the shares sold, without the underwriters' option. Trading compares the first and latest close with the IPO price.