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ResMed |

RMD NYSE Health Care Equipment Financials FY2017–FY2026

ResMed |'s revenue rose 9.8% to $5.7 billion in fiscal 2026. Its operating margin was 33.4%, up from 32.8% a year earlier. Free cash flow was $1.6 billion, down 0.7%. It paid out $1.0 billion in dividends and buybacks, 64% of free cash flow. The diluted share count fell 0.9%.

Last close · Oct 23, 2026

$252.86

0.1%
Value it Compare
Revenue Total sales reported in the income statement.
$5.7B
9.9% vs prior year
Operating margin Operating income as a share of revenue.
33.4%
0.6 pts
Net income Profit after all expenses, interest and tax.
$1.5B
8.8%
Free cash flow Cash from operations minus capital spending.
$1.6B
0.7%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
26.7%
0.6 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$36.9B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
24.2x

What ResMed | does

No business description yet.

Legal name
ResMed Inc.
Fiscal year ends
June 30, 2026
Latest annual report
—
Accession · CIK
0000943819-26-000047
0000943819

Revenue and margins

ResMed | had $5.7B of revenue in fiscal 2026, up 9.9% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2017 to 2026, diluted EPS grew 17.7% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $1.6B in fiscal 2026, 29.2% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

ResMed | returned $1.0B to shareholders in fiscal 2026, 64% of free cash flow. The diluted share count fell 0.9%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value ResMed | yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of $810M and divides by 146.1M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 24.2x · peers 35.2x · sector 28.4x.

Balance sheet

Cash, debt and the ratios that show how comfortably ResMed | can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY22FY23FY24FY25FY26
Cash and short-term investments $274M$228M$238M$1.2B$1.5B
Debt incl. finance leases $775M$1.4B$707M$668M$659M
Net debt / EBITDA 0.4x0.9x0.3x−0.3x−0.4x
Debt / equity 0.2x0.4x0.2x0.1x0.1x
Interest coverage 44.8x23.9x28.9x59.3x69.7x
Current ratio 2.8x3.1x2.6x3.4x3.1x
Quick ratio 1.7x1.8x1.7x2.5x2.4x
Total assets $5.1B$6.8B$6.9B$8.2B$9.0B
Total liabilities $1.7B$2.6B$2.0B$2.2B$2.4B
Shareholders' equity $3.4B$4.1B$4.9B$6.0B$6.6B
Net debt (− = net cash) $502M$1.2B$469M−$541M−$810M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$11.4M

3 insiders

Of sales under plans

100%

$11.4M

DateInsiderTradeSharesPriceValueFiling
Oct 7, 2026 Michael J. FarrellChairman and CEO, Director Sold plan 4,991 $226.33 $1.1M Form 4
Sep 8, 2026 Michael J. FarrellChairman and CEO, Director Sold plan 4,991 $222.44 $1.1M Form 4
Sep 2, 2026 Peter C FarrellDirector Sold plan 970 $234.73 $0.2M Form 4
Aug 7, 2026 Michael J. FarrellChairman and CEO, Director Sold plan 4,991 $205.69 $1.0M Form 4
Aug 5, 2026 Peter C FarrellDirector Sold plan 8,000 $225.00 $1.8M Form 4
Jul 7, 2026 Michael J. FarrellChairman and CEO, Director Sold plan 4,991 $218.55 $1.1M Form 4
Jun 8, 2026 Michael J. FarrellChairman and CEO, Director Sold plan 4,991 $193.96 $1.0M Form 4
May 7, 2026 Michael J. FarrellChairman and CEO, Director Sold plan 4,991 $207.82 $1.0M Form 4
Apr 7, 2026 Michael J. FarrellChairman and CEO, Director Sold plan 4,991 $225.50 $1.1M Form 4
Apr 1, 2026 Brett SandercockChief Financial Officer Sold plan 1,000 $224.31 $0.2M Form 4
Apr 1, 2026 Peter C FarrellDirector Sold plan 2,000 $225.00 $0.5M Form 4
Mar 9, 2026 Michael J. FarrellChairman and CEO, Director Sold plan 4,991 $251.03 $1.3M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY24FY25FY26
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✓ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✓ ✓
Current ratio rose ✕ ✓ ✕
Share count didn't rise ✕ ✓ ✓
Gross margin rose ✓ ✓ ✓
Revenue rose relative to assets ✕ ✓ ✕
F-score 5 / 99 / 96 / 9
Accruals ratio −5.6%−4.7%−3.3%
Altman Z'' 7.588.659.10

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
ResMed | RMD $36.9B 9.9% 33.4% 29.2% 26.7% 24.2x 6
Steris STE $22.7B 8.7% 18.6% 16.4% 9.6% 28.4x 9 Compare →
Edwards Lifesciences EW $51.4B 11.6% 20.8% 22.0% 15.7% 51.2x 5 Compare →
Dexcom DXCM $30.4B 15.6% 19.6% 23.1% 44.9% 30.9x 8 Compare →
Idexx Laboratories IDXX $44.4B 10.4% 31.6% 24.6% 57.3% 39.4x 8 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
Income statement
Revenue $2.1B $2.3B $2.6B $3.0B $3.2B $3.6B $4.2B $4.7B $5.1B $5.7B
Gross profit $1.2B $1.3B $1.5B $1.7B $1.8B $2.0B $2.4B $2.7B $3.1B $3.5B
Research and development $145M $155M $181M $202M $225M $254M $288M $308M $331M $378M
Operating income $426M $542M $579M $810M $904M $1.0B $1.1B $1.3B $1.7B $1.9B
Interest expense $28.2M $28.4M $36.2M $40.4M $24.0M $22.3M $47.4M $45.7M $28.4M $27.1M
Pretax income $419M $521M $519M $733M $884M $961M $1.1B $1.3B $1.7B $1.9B
Income tax $76.5M $206M $114M $111M $409M $181M $204M $244M $277M $396M
Net income $342M $316M $405M $622M $475M $779M $898M $1.0B $1.4B $1.5B
Diluted EPS $2.40 $2.19 $2.80 $4.27 $3.24 $5.30 $6.09 $6.92 $9.51 $10.43
Diluted shares 0.14B 0.14B 0.14B 0.15B 0.15B 0.15B 0.15B 0.15B 0.15B 0.15B
Cash flow
Cash from operations $414M $505M $459M $802M $737M $351M $693M $1.4B $1.8B $1.8B
Capital expenditure $62.2M $62.6M $68.7M $95.3M $103M $135M $120M $99.5M $89.9M $156M
Free cash flow $352M $442M $390M $707M $634M $216M $574M $1.3B $1.7B $1.6B
Depreciation and amortization $112M $120M $151M $155M $157M $160M $165M $177M $199M $201M
Stock-based compensation $45.9M $48.4M $52.1M $57.6M $63.9M $65.3M $71.1M $80.2M $91.7M $104M
Acquisitions $7.3M $0.9M $951M $27.9M $39.1M $42.8M $1.0B $134M $139M $351M
Share buybacks $0.0M $53.8M $22.8M $0.0M $0.0M $0.0M $0.0M $150M $300M $700M
Dividends paid $186M $200M $212M $225M $227M $245M $258M $282M $311M $350M
Dividends and buybacks $186M $253M $235M $225M $227M $245M $258M $432M $611M $1.0B
Balance sheet
Cash and short-term investments $822M $189M $147M $463M $295M $274M $228M $238M $1.2B $1.5B
Total debt — $282M $1.3B $1.2B $655M $775M $1.4B $707M $668M $659M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $1.6B $1.1B $1.1B $1.5B $1.6B $1.9B $2.4B $2.4B $3.5B $4.3B
Current liabilities $360M $511M $556M $603M $912M $689M $759M $911M $1.0B $1.4B
Inventory $268M $269M $350M $417M $457M $744M $998M $822M $928M $946M
Property and equipment, net $394M $387M $388M $417M $464M $498M $538M $548M $551M $582M
Total assets $3.5B $3.1B $4.1B $4.6B $4.7B $5.1B $6.8B $6.9B $8.2B $9.0B
Total liabilities $1.5B $1.0B $2.0B $2.1B $1.8B $1.7B $2.6B $2.0B $2.2B $2.4B
Shareholders' equity $2.0B $2.1B $2.1B $2.5B $2.9B $3.4B $4.1B $4.9B $6.0B $6.6B
Margins
Gross margin 58.2% 57.0% 57.3% 58.1% 57.5% 56.6% 55.8% 56.7% 59.4% 61.1%
Operating margin 20.6% 23.2% 22.2% 27.4% 28.3% 28.0% 26.8% 28.2% 32.8% 33.4%
EBITDA margin 26.0% 28.3% 28.0% 32.6% 33.2% 32.4% 30.7% 32.0% 36.6% 36.9%
Net margin 16.6% 13.5% 15.5% 21.0% 14.8% 21.8% 21.3% 21.8% 27.2% 26.9%
FCF margin 17.0% 18.9% 15.0% 23.9% 19.8% 6.1% 13.6% 27.8% 32.3% 29.2%
Returns
Return on capital — — 16.9% 21.4% 15.0% 22.8% 20.0% 20.0% 26.2% 26.7%
Return on capital employed 14.9% 19.1% 19.0% 21.5% 23.2% 24.3% 21.8% 22.1% 25.7% 25.6%
Return on equity 18.7% 15.7% 19.6% 27.2% 17.6% 25.0% 24.0% 22.7% 25.9% 24.3%
Return on assets 10.2% 9.7% 11.3% 14.3% 10.2% 15.9% 15.2% 15.0% 18.6% 17.8%
Growth
Revenue growth 12.4% 13.2% 11.4% 13.4% 8.1% 11.9% 18.0% 11.0% 9.8% 9.9%
Net income growth −2.9% −7.8% 28.2% 53.7% −23.7% 64.3% 15.2% 13.8% 37.2% 8.8%
EPS growth −3.6% −8.8% 27.9% 52.5% −24.1% 63.6% 14.9% 13.6% 37.4% 9.7%
FCF growth −28.1% 25.8% −11.8% 81.1% −10.3% −65.9% 165.2% 126.9% 27.7% −0.7%
Share count change 0.6% 1.1% 0.4% 0.8% 0.6% 0.4% 0.3% 0.1% −0.1% −0.9%
Financial health
Net debt / EBITDA — 0.1x 1.5x 0.7x 0.3x 0.4x 0.9x 0.3x −0.3x −0.4x
Debt / equity — 0.1x 0.6x 0.5x 0.2x 0.2x 0.4x 0.2x 0.1x 0.1x
Interest coverage 15.1x 19.1x 16.0x 20.1x 37.7x 44.8x 23.9x 28.9x 59.3x 69.7x
Current ratio 4.6x 2.1x 2.1x 2.5x 1.7x 2.8x 3.1x 2.6x 3.4x 3.1x
Quick ratio 3.8x 1.6x 1.4x 1.8x 1.2x 1.7x 1.8x 1.7x 2.5x 2.4x
Capital allocation
Capex / revenue 3.0% 2.7% 2.6% 3.2% 3.2% 3.8% 2.8% 2.1% 1.8% 2.8%
Stock comp / revenue 2.2% 2.1% 2.0% 2.0% 2.0% 1.8% 1.7% 1.7% 1.8% 1.9%
Payouts / FCF 53.0% 57.3% 60.1% 31.8% 35.8% 113.4% 45.0% 33.2% 36.8% 63.6%
Quality scores
Piotroski F-score — — 6.0 7.0 4.0 5.0 5.0 5.0 9.0 6.0
Altman Z'' 6.8 7.1 4.9 5.8 6.0 7.3 6.4 7.6 8.7 9.1
Accruals ratio −2.1% −5.8% −1.5% −4.2% −5.6% 8.7% 3.5% −5.6% −4.7% −3.3%

Source: SEC EDGAR XBRL filings (CIK 0000943819). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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