Medline Inc. saw its stock climb following a robust debut in December 2025, marking one of the top-performing initial public offerings of the year. The company’s market valuation exceeded $32 billion at the close of its first trading day.
- Medline Inc. priced its IPO at $68 per share in December 2025
- Raised $2.1 billion through issuance of 31 million shares
- Market cap reached $32.4 billion on first trading day
- FY2025 revenue: $8.4 billion; EBITDA margin: 18.3%
- Shares rose 14% in January 2026 following strong IPO debut
- 68% of IPO shares allocated to institutional investors
Medline Inc. posted a notable rally in early January 2026, with shares gaining over 14% in the first week of trading following its December 2025 IPO. The company priced its offering at $68 per share, raising approximately $2.1 billion through the sale of 31 million shares. By the end of the first trading session on December 16, 2025, Medline’s market capitalization stood at $32.4 billion, making it the largest healthcare services IPO of the year. The strong debut reflects investor confidence in Medline’s position within the medical supply distribution sector. The company, which serves over 600,000 healthcare facilities globally, reported $8.4 billion in annual revenue for the fiscal year ending September 2025. Its recurring revenue model, driven by long-term contracts with hospitals and clinics, has attracted institutional interest, with 68% of the IPO shares allocated to mutual funds and pension funds. Analysts have upgraded Medline’s stock to 'Buy' across major investment firms, citing its diversified customer base and expanding digital platform integration. The company’s EBITDA margin improved to 18.3% in FY2025, up from 16.7% the prior year, signaling operational efficiency gains. These metrics have contributed to a forward P/E ratio of 17.4, below the sector average for healthcare distributors. The IPO’s success has bolstered confidence in the broader healthcare infrastructure sector, with peers such as McKesson and Cardinal Health seeing modest gains in early January. The performance has also prompted speculation about potential follow-on offerings from other private healthcare logistics firms in 2026.