ResMed Inc. (RMD) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q4 26	$2.89	$2.95	+2.1%	—	$1.5B	—
Q3 26	$2.8	$2.86	+2.1%	—	$1.4B	—
Q2 26	$2.72	$2.81	+3.3%	—	$1.4B	—
Q1 26	$2.48	$2.55	+2.8%	—	—	—
Q4 25	$2.36	$2.37	+0.4%	—	—	—
Q3 25	$2.31	$2.43	+5.2%	—	—	—
Q2 25	$2.04	$2.2	+7.8%	—	—	—
Q1 25	$2.07	$2.08	+0.5%	—	—	—
Q4 24	$1.91	$2.13	+11.5%	—	—	—
Q3 24	$1.78	$1.88	+5.6%	—	—	—
Q2 24	$1.62	$1.64	+1.2%	—	—	—
Q1 24	$1.69	$1.6	-5.3%	—	—	—
Q4 23	$1.59	$1.68	+5.7%	—	—	—
Q3 23	$1.62	$1.66	+2.5%	—	—	—
Q2 23	$1.52	$1.51	-0.7%	—	—	—
Q1 23	$1.45	$1.49	+2.8%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY26	—	—	—	—	$5.7B	—
FY25	—	—	—	—	$5.1B	—
FY24	—	$6.94	—	—	$4.7B	—
FY23	—	$6.12	—	—	$4.2B	—

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	$2.1B	$2.3B	$2.6B	$3B	$3.2B	$3.6B	$4.2B	$4.7B	$5.1B	$5.7B
YoY change	+12.4%	+13.2%	+11.4%	+13.4%	+8.11%	+11.9%	+18%	+10.9%	+9.84%	+9.85%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	2.1B	2.3B	2.6B	3B	3.2B	3.6B	4.2B	4.7B	5.1B	5.7B
Cost of revenue	894.5M	1B	1.1B	1.2B	1.4B	1.6B	1.9B	2B	2.1B	2.2B
Gross profit	1.2B	1.3B	1.5B	1.7B	1.8B	2B	2.4B	2.7B	3.1B	3.5B
Gross margin	56.7%	57%	57.3%	58.1%	57.5%	56.6%	55.8%	56.7%	59.4%	61.1%
Research & development	144.5M	155.1M	180.7M	201.9M	225.3M	253.6M	287.6M	307.5M	331.3M	378.3M
Selling, general & administrative	554M	600.4M	645M	676.7M	670.4M	737.5M	874M	917.1M	991M	1.1B
Operating expenses	698.4M	755.5M	825.7M	878.6M	895.7M	991.1M	1.2B	1.2B	1.3B	1.5B
Operating income	456.7M	560.3M	636M	809.1M	912.4M	1B	1.2B	1.4B	1.7B	1.9B
Operating margin	22.1%	23.9%	24.4%	27.4%	28.5%	28%	27.3%	29.5%	32.8%	33.8%
Non-operating income, net	-26.8M	-27M	-83.3M	-36.6M	-5.1M	-19.4M	-3M	-73.6M	-13.9M	-39M
Pretax income	418.7M	521.3M	518.8M	733.1M	883.7M	960.5M	1.1B	1.3B	1.7B	1.9B
Income tax	76.5M	205.7M	114.3M	111.4M	409.2M	181M	204.1M	243.8M	276.8M	396.1M
Net income	342.3M	315.6M	404.6M	621.7M	474.5M	779.4M	897.6M	1B	1.4B	1.5B
Net margin	16.6%	13.5%	15.5%	21%	14.8%	21.8%	21.3%	21.8%	27.2%	26.9%
EBITDA	599.8M	698.7M	775.8M	989.8M	1.1B	1.2B	1.3B	1.6B	1.9B	2.2B
EPS	2.42	2.21	2.83	4.31	3.27	5.34	6.12	6.94	—	—
Diluted EPS	2.4	2.19	2.8	4.27	3.24	5.3	6.09	6.92	—	—

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26
Revenue	1.1B	1.2B	1.2B	1.2B	1.2B	1.3B	1.3B	1.3B	1.3B	1.4B	1.4B	1.5B
Cost of revenue	502.3M	515.9M	504.2M	507.7M	507.3M	530.8M	525.3M	527.9M	514.8M	544.1M	540.4M	602.4M
Gross profit	600.1M	646.9M	692.8M	715.5M	717.2M	751.3M	766.4M	820.1M	820.8M	878.7M	891M	861.2M
Gross margin	54.4%	55.6%	57.9%	58.5%	58.6%	58.6%	59.3%	60.8%	61.5%	61.8%	62.2%	58.8%
Research & development	75.7M	73.9M	77.1M	80.9M	79.5M	81.4M	83.9M	86.4M	87.3M	91M	94.3M	105.7M
Selling, general & administrative	222.9M	222.2M	229.9M	242.2M	239M	241.6M	245.3M	265.1M	259.2M	278.4M	285.7M	296.3M
Operating expenses	298.6M	296M	307M	323M	318.5M	323M	329.2M	351.6M	346.5M	369.4M	379.9M	402M
Operating income	289M	339.3M	374.6M	381.2M	387.3M	417.2M	426.3M	456.6M	462.3M	497.6M	499.8M	448.7M
Operating margin	26.2%	29.2%	31.3%	31.2%	31.6%	32.5%	33%	33.9%	34.6%	35%	34.9%	30.7%
Non-operating income, net	-1.8M	-66.1M	11.9M	-17.6M	-2.2M	1.9M	-9.4M	-4.3M	-24.3M	-9.4M	-9.8M	4.6M
Pretax income	272.2M	259.5M	375.4M	357.7M	383.5M	418.3M	417.7M	458.1M	446.8M	496.1M	502.3M	474.2M
Income tax	52.8M	50.7M	74.9M	65.5M	72.1M	73.7M	52.7M	78.3M	98.3M	103.6M	103.6M	90.7M
Net income	219.4M	208.8M	300.5M	292.2M	311.4M	344.6M	365M	379.7M	348.5M	392.6M	398.7M	383.4M
Net margin	19.9%	18%	25.1%	23.9%	25.4%	26.9%	28.3%	28.2%	26.1%	27.6%	27.9%	26.2%
EBITDA	343M	456.9M	429.2M	362.4M	441M	473.1M	478.2M	532.9M	535.8M	565.9M	568.8M	503.8M
EPS	1.49	1.42	2.04	1.99	2.12	2.35	2.49	2.59	2.38	2.69	2.74	2.65
Diluted EPS	1.49	1.42	2.04	1.98	2.11	2.34	2.48	2.58	2.37	2.68	2.74	2.64

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Market cap	11B	14.8B	17.5B	27.7B	35.8B	30.6B	32.1B	28.1B	—	—	32B
Enterprise value	11.3B	14.9B	18.6B	28.5B	36.3B	31.3B	33.4B	28.8B	—	—	31.4B
Shares outstanding	141.4M	142.8M	143.1M	144.3M	145.3M	146.1M	146.8M	147M	—	—	—

Valuation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
P/E	32.2	46.9	43.2	44.6	75.5	39.3	35.7	27.6	—	—	21.1
P/S	5.33	6.32	6.7	9.37	11.2	8.56	7.59	6.01	—	—	5.62
P/B	5.62	7.18	8.43	11.1	12.4	9.11	7.76	5.79	—	—	4.82
EV/EBITDA	18.8	21.3	24	28.8	32.6	26.3	25	18.1	—	—	15
EV/Sales	5.45	6.36	7.13	9.65	11.4	8.74	7.91	6.14	—	—	5.55
Earnings yield	3.11%	2.13%	2.32%	2.24%	1.32%	2.55%	2.8%	3.63%	—	—	4.74%
FCF yield	3.11%	2.93%	2.19%	2.51%	1.73%	0.64%	1.74%	4.57%	—	—	2.93%
PEG	—	—	—	—	—	—	—	—	—	—	9.11

Profitability

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Gross margin	56.7%	57%	57.3%	58.1%	57.5%	56.6%	55.8%	56.7%	59.4%	61.1%	58.8%
Operating margin	22.1%	23.9%	24.4%	27.4%	28.5%	28%	27.3%	29.5%	32.8%	33.8%	30.9%
Net margin	16.6%	13.5%	15.5%	21%	14.8%	21.8%	21.3%	21.8%	27.2%	26.9%	26.9%
ROE	17.5%	15.3%	19.5%	24.9%	16.4%	23.2%	21.7%	21%	23.5%	23.1%	24.3%
ROA	9.87%	10.3%	9.85%	13.6%	10%	15.3%	13.3%	14.9%	17.1%	17%	14%
ROIC	16.8%	15.8%	15.5%	20.6%	14.5%	20.3%	17.1%	20.3%	25.1%	25.5%	25.5%
Return on tangible assets	42%	63.7%	-62.3%	-693.8%	544.4%	146.8%	843.3%	471.6%	121.7%	68%	68%

Financial health

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Current ratio	4.57	2.08	2.06	2.53	1.73	2.8	3.12	2.59	3.44	3.1	3.1
Quick ratio	3.82	1.56	1.43	1.84	1.23	1.72	1.81	1.69	2.53	2.42	2.42
Debt / equity	0.55	0.14	0.61	0.52	0.28	0.27	0.38	0.18	0.14	0.13	0.13
Debt / assets	0.31	0.09	0.31	0.28	0.17	0.18	0.23	0.13	0.1	0.09	0.09
Net debt / EBITDA	0.43	0.13	1.45	0.84	0.45	0.54	1.01	0.4	-0.19	-0.3	-0.3
Interest coverage	16.2	19.8	15.4	20	38	44	24.3	28.7	—	—	—
Effective tax rate	18.3%	39.5%	22%	15.2%	46.3%	18.8%	18.5%	19.3%	16.5%	20.6%	20.6%

Per share

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Revenue per share	14.6	16.4	18.2	20.5	22	24.5	28.8	31.9	—	—	38.8
EPS (basic)	2.42	2.21	2.83	4.31	3.27	5.34	6.12	6.94	—	—	—
EPS (diluted)	2.4	2.19	2.8	4.27	3.24	5.3	6.09	6.92	—	—	10.4
Book value per share	13.9	14.4	14.5	17.3	19.9	23	28.1	33.1	—	—	45.7
FCF per share	2.42	3.04	2.67	4.82	4.27	1.34	3.81	8.75	—	—	11.2
Cash per share	5.81	1.32	1.03	3.21	2.03	1.87	1.55	1.62	—	—	10.2
Capex per share	0.44	0.44	0.48	0.66	0.71	0.92	0.82	0.68	—	—	—

Capital allocation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Capex / revenue	3.01%	2.67%	2.64%	3.22%	3.21%	3.77%	2.83%	2.12%	—	—	—
Capex / operating cash flow	14.4%	9.57%	14.4%	11.6%	12.9%	27%	15%	7.16%	—	—	—
Payout ratio	54.4%	63.2%	52.3%	36.2%	47.8%	31.5%	28.8%	27.7%	22.2%	23%	23%
Dividend yield	1.69%	1.35%	1.21%	0.81%	0.63%	0.8%	0.81%	1%	—	—	1.19%

Yield

1.19%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.66

ex-dividend Aug 20, 2026

Payout ratio

23%

of earnings

Dividend growth

13 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 20, 2026	$0.66
May 14, 2026	$0.60
Feb 12, 2026	$0.60
Nov 13, 2025	$0.60

Period	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26
Revenue	$1.1B	$1.2B	$1.2B	$1.2B	$1.2B	$1.3B	$1.3B	$1.3B	$1.3B	$1.4B	$1.4B	$1.5B
YoY change	+16%	+12.5%	+7.17%	+9.01%	+11.1%	+10.3%	+7.92%	+10.2%	+9.07%	+11%	+10.8%	+8.58%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Cash & short-term investments	821.9M	188.7M	147.1M	463.2M	295.3M	273.7M	227.9M	238.4M	1.2B	1.5B
Receivables	450.5M	483.7M	528.5M	474.6M	614.3M	576M	704.9M	837.3M	939.5M	1B
Inventory	268.3M	268.7M	349.6M	416.9M	457M	743.9M	998M	822.3M	927.7M	945.8M
Total current assets	1.6B	1.1B	1.1B	1.5B	1.6B	1.9B	2.4B	2.4B	3.5B	4.3B
Property, plant & equipment	160.4M	157.4M	164.4M	307.8M	352.7M	401M	434.8M	468.1M	487.7M	499M
Goodwill & intangibles	2.7B	2.6B	4.8B	4.7B	4.6B	4.6B	6.6B	6.7B	7B	6.7B
Total assets	3.5B	3.1B	4.1B	4.6B	4.7B	5.1B	6.8B	6.9B	8.2B	9B
Accounts payable	92.8M	92.7M	115.7M	135.8M	138M	159.2M	150.8M	237.7M	278.2M	308.9M
Short-term debt	—	11.5M	12M	33.3M	35.6M	31.8M	31.8M	35.2M	40.4M	289.1M
Total current liabilities	360.1M	511.2M	556M	602.8M	911.8M	689.3M	758.5M	910.7M	1B	1.4B
Long-term debt	1.1B	270M	1.3B	1.3B	758.1M	885.8M	1.5B	838.8M	811.4M	536.8M
Total liabilities	1.5B	1B	2B	2.1B	1.8B	1.7B	2.6B	2B	2.2B	2.4B
Shareholders' equity	2B	2.1B	2.1B	2.5B	2.9B	3.4B	4.1B	4.9B	6B	6.6B
Total debt	1.1B	281.5M	1.3B	1.3B	793.7M	917.5M	1.6B	873.9M	851.8M	825.9M
Net debt	256.7M	92.8M	1.1B	836.1M	498.4M	643.8M	1.4B	635.6M	-357.6M	-643.3M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26
Cash & short-term investments	209.1M	210.2M	237.9M	238.4M	426.4M	521.9M	932.7M	1.2B	1.4B	1.4B	1.7B	1.5B
Receivables	692.4M	729.7M	779.3M	837.3M	811.2M	859.9M	907.8M	939.5M	907.3M	985.6M	998.8M	1B
Inventory	958.2M	933.2M	829.5M	822.3M	918M	882.1M	862.6M	927.7M	945.8M	922M	911.9M	945.8M
Total current assets	2.3B	2.4B	2.4B	2.4B	2.6B	2.8B	3.2B	3.5B	3.6B	3.8B	4.1B	4.3B
Property, plant & equipment	657.4M	705.2M	686.8M	468.1M	717.3M	671.2M	687.9M	487.7M	725.6M	730.2M	728.6M	499M
Goodwill & intangibles	6.8B	6.8B	6.7B	6.7B	6.7B	6.5B	6.6B	7B	7B	6.9B	6.9B	6.7B
Total assets	6.7B	6.9B	6.8B	6.9B	7.2B	7.1B	7.6B	8.2B	8.3B	8.5B	8.8B	9B
Accounts payable	177M	202.4M	177.4M	237.7M	249.3M	220.3M	222.6M	278.2M	266.8M	250.4M	273.3M	308.9M
Short-term debt	31.7M	34M	34.1M	35.2M	38.2M	37.7M	38.7M	40.4M	289.9M	289.7M	289.2M	289.1M
Total current liabilities	770.8M	764.1M	773M	910.7M	904.1M	852M	940.5M	1B	1.3B	1.2B	1.4B	1.4B
Long-term debt	1.5B	1.4B	1.1B	838.8M	812.1M	802M	801.1M	811.4M	556.5M	558.1M	554M	536.8M
Total liabilities	2.5B	2.4B	2.2B	2B	2B	1.9B	2B	2.2B	2.2B	2.2B	2.3B	2.4B
Shareholders' equity	4.3B	4.5B	4.6B	4.9B	5.2B	5.3B	5.5B	6B	6.1B	6.3B	6.5B	6.6B
Total debt	1.5B	1.4B	1.2B	873.9M	850.2M	839.7M	839.8M	851.8M	846.4M	847.7M	843.2M	825.9M
Net debt	1.3B	1.2B	929.5M	635.6M	423.9M	317.8M	-92.9M	-357.6M	-537.5M	-569.3M	-817.3M	-643.3M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Net income	342.3M	315.6M	404.6M	621.7M	474.5M	779.4M	897.6M	1B	1.4B	1.5B
Depreciation & amortization	112.2M	120M	150.8M	181.4M	191.5M	193.8M	197.6M	216.2M	235.8M	244.2M
Stock-based compensation	45.9M	48.4M	52.1M	57.6M	63.9M	65.3M	71.1M	80.2M	91.7M	104.3M
Change in working capital	-70.6M	169.8M	-129.5M	-38.9M	59.6M	-540M	-355.3M	37.9M	-156.8M	-106.7M
Operating cash flow	431.4M	654.2M	477.7M	821.7M	798.2M	498.6M	799.9M	1.4B	1.8B	1.8B
Capital expenditure	-62.2M	-62.6M	-68.7M	-95.3M	-102.7M	-134.8M	-119.7M	-99.5M	—	—
Investing cash flow	-72.6M	-92.9M	-1.1B	-169.3M	-144.3M	-208.7M	-1.1B	-254.4M	-99.4M	-368M
Dividends paid	-186.3M	-199.5M	-211.7M	-225.1M	-226.7M	-245.3M	-258.3M	-282.3M	-310.9M	-349.7M
Share repurchases	0	-53.8M	-22.8M	0	0	0	0	-150M	-300M	-700M
Financing cash flow	-262.9M	-1B	580.6M	-317.3M	-764.6M	-128.4M	422.9M	-1.1B	-606.3M	-1B
Net change in cash	95.9M	-465.5M	-8.7M	335.1M	-110.8M	161.5M	77.2M	14.8M	1B	430.8M
Free cash flow	342.6M	433.6M	381.7M	696.3M	619.9M	195.1M	559.3M	1.3B	1.7B	1.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26
Net income	219.4M	208.8M	300.5M	292.2M	311.4M	344.6M	365M	379.7M	348.5M	392.6M	398.7M	383.4M
Depreciation & amortization	53.4M	53.4M	54.6M	54.8M	53.7M	55.9M	51.9M	74.3M	57.7M	62.3M	69M	55.1M
Stock-based compensation	18.5M	19.8M	20.4M	21.4M	20.2M	22.6M	24.1M	24.8M	21.2M	28.9M	26.8M	27.5M
Change in working capital	33.4M	23.4M	29.7M	-48.6M	-33.8M	-75.5M	-10.2M	-37.3M	15.3M	-46.6M	-4.4M	-71.1M
Operating cash flow	324.8M	305.4M	405.3M	319.8M	351.4M	347.7M	430.9M	538.8M	457.3M	339.7M	554.1M	454.6M
Capital expenditure	-30M	-23.4M	-21.2M	-24.9M	-17.8M	-20.6M	-20.8M	—	—	—	—	—
Investing cash flow	-138.1M	-39.9M	-31.2M	-45.1M	3.9M	-33.9M	-28.8M	-99.9M	-6.8M	-16.4M	-18.4M	-326.4M
Dividends paid	-70.6M	-70.7M	-70.5M	-70.6M	-77.9M	-77.7M	-77.7M	-77.6M	-87.8M	-87.6M	-87.2M	-87.1M
Share repurchases	0	-50M	-50M	-50M	-50M	-75M	-75M	-100M	-150M	-175M	-175M	-200M
Financing cash flow	-151.1M	-239M	-335.9M	-393.3M	-150.8M	-147.5M	-144.1M	-163.9M	-230.3M	-258.3M	-255.2M	-263.2M
Net change in cash	35.5M	26.5M	38.1M	-118.6M	204.5M	166.3M	258M	274.9M	220.2M	65M	280.5M	-134.9M
Free cash flow	245.4M	248.3M	378.9M	413.8M	305.9M	285.2M	554.9M	505M	411.5M	305.2M	514.5M	397.4M

Date	Ratio
Aug 31, 2010	2:1
Oct 3, 2005	2:1
Apr 3, 2000	2:1
Nov 17, 1998	2:1

ResMed Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history