Globus Medical vs Insulet
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The short version
- Globus Medical is the larger business, with $2.9B of revenue in fiscal 2025 against $2.7B for Insulet.
- Insulet grew revenue faster (30.7%, against 16.7%).
- Insulet kept more of each dollar of sales as operating profit (17.5% operating margin, against 16.3%).
- Globus Medical turned more of its sales into free cash flow (20.0% FCF margin, against 14.0%).
- Insulet earned a higher return on the capital invested in it (20.4%, against 11.0%).
- Investors pay more for each dollar of Insulet’s earnings: a P/E of 27.9x against 20.9x for Globus Medical.
| Latest fiscal year | GMED · FY25 | PODD · FY25 |
|---|---|---|
| Size | ||
| Market cap | $11.2B | $10.3B |
| Revenue | $2.9B | $2.7B |
| Free cash flow | $589M | $378M |
| Net income | $538M | $247M |
| Growth | ||
| Revenue growth | 16.7% | 30.7% |
| 5-year growth | 30.1% | 24.5% |
| Share count change | −0.6% | −2.7% |
| Profitability | ||
| Gross margin | 67.4% | 71.6% |
| Operating margin | 16.3% | 17.5% |
| Net margin | 18.3% | 9.1% |
| FCF margin | 20.0% | 14.0% |
| Return on capital | 11.0% | 20.4% |
| Return on equity | 12.3% | 18.1% |
| Balance sheet | ||
| Net debt | −$556M | $233M |
| Net debt / EBITDA | −0.7x | 0.4x |
| Dividends and buybacks | $301M | $59.6M |
| Valuation & quality | ||
| P/E | 20.9x | 27.9x |
| Piotroski F-score | 9 | 7 |
Revenue
FY16
GMED $564M
PODD $367M
FY17
GMED $636M
PODD $464M
FY18
GMED $713M
PODD $564M
FY19
GMED $785M
PODD $738M
FY20
GMED $789M
PODD $904M
FY21
GMED $958M
PODD $1.1B
FY22
GMED $1.0B
PODD $1.3B
FY23
GMED $1.6B
PODD $1.7B
FY24
GMED $2.5B
PODD $2.1B
FY25
GMED $2.9B
PODD $2.7B
GMED
PODD
Operating margin
FY16
GMED 27.3%
PODD −2.9%
FY17
GMED 25.5%
PODD −1.6%
FY18
GMED 23.8%
PODD 4.9%
FY19
GMED 21.9%
PODD 6.8%
FY20
GMED 14.1%
PODD 5.7%
FY21
GMED 18.0%
PODD 11.5%
FY22
GMED 22.3%
PODD 2.9%
FY23
GMED 8.5%
PODD 13.0%
FY24
GMED 6.6%
PODD 14.9%
FY25
GMED 16.3%
PODD 17.5%
GMED
PODD
Free cash flow
FY16
GMED $107M
PODD −$6.2M
FY17
GMED $108M
PODD −$32.5M
FY18
GMED $122M
PODD −$122M
FY19
GMED $101M
PODD −$65.3M
FY20
GMED $135M
PODD −$45.0M
FY21
GMED $219M
PODD −$180M
FY22
GMED $104M
PODD −$3.9M
FY23
GMED $165M
PODD $70.1M
FY24
GMED $405M
PODD $305M
FY25
GMED $589M
PODD $378M
GMED
PODD
Return on capital
FY16
GMED 14.4%
PODD −5.0%
FY17
GMED 12.7%
PODD −1.6%
FY18
GMED 16.6%
PODD 3.6%
FY19
GMED 14.5%
PODD 7.3%
FY20
GMED 8.3%
PODD 5.5%
FY21
GMED 12.0%
PODD 11.9%
FY22
GMED 13.2%
PODD 1.7%
FY23
GMED 3.7%
PODD 16.1%
FY24
GMED 3.7%
PODD 20.0%
FY25
GMED 11.0%
PODD 20.4%
GMED
PODD
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.