Mayo Clinic Revenue Tops $5.4 Billion in Strong Third Quarter

Rochester, MN (KROC-AM News) - Mayo Clinic saw a key measure of its financial performance rise by more than 50% in the third quarter of this year.

In a required regulatory filing with the federal Municipal Securities Rulemaking Board, Mayo Clinic reported $5.442 billion in revenue for the three-month period that ended on September 30. That’s an increase of 11% compared to the $4.899 billion reported during the third quarter last year.

TSM Rochester

Revenue Growth Exceeded Rise in Expenses by 2.5 Percentage Points

The Rochester-based healthcare provider’s expenses also exceeded $5 billion but did not rise as quickly as its revenues. The filing indicates that Mayo Clinic’s expenses from June through September totaled $5.017 billion, which was up about 8.5% from the $4.624 billion reported a year ago. The report shows expenses stemming from salaries and benefits rose just under 8% compared to the third quarter of 2023, totaling just over $2.8 billion.

Kim David/TSM

A Key Measure of Financial Performance Was Up More Than 50%

Mayo Clinic’s net income from current activities in the third quarter rose to $425 million, which is up 54% from the $275 million reported for the same three-month period last year. According to the report, the organization’s net assets increased by more than 20% over the past 12 months to nearly $22 billion.

ALSO SEE: Mayo Clinic Financial Performance Declined Modestly in Q2 2025

Net Income For the Year Tops $1 Billion

Since the beginning of the year, Mayo Clinic has reported $1.165 billion in net income, up 17% from a year ago. Revenues for the first nine months of this year total close to $15.9 billion, an increase of more than $1.2 billion from last year, while expenses have risen at a slightly slower pace and total about $14.7 billion.

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Kim David/TSM

The financial results from Mayo Clinic were reported without donor restrictions.

The unaudited report was filed with the Electronic Municipal Market Access website, a service of the Municipal Securities Rulemaking Board. The report is required because of municipal bonds sold by Mayo to finance various economic development projects.

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