ResMed is one of the largest respiratory care device companies globally, primarily developing and supplying flow generators, masks, and accessories for the treatment of sleep apnea.
It is a $32.4B healthcare company. Revenue grew 9.9% over the last year, it keeps 27¢ of every dollar of sales as profit, and it holds more cash than debt. It trades at 21.2× earnings — near the lowest of its own history.
- Website
- resmed.com
- Location
- San Diego, CA
- Employees
- 11 370
- Sector
- Healthcare
- Founded
- 1989
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong growth, profitability, health, quality and moat.
Valuation69
- P/E vs own history9th pct · 25/25
- FCF yield5.1% · 20/25
- P/S5.7x · 12/25
- EV/EBITDA16.3x · 12/25
Growth85
- Revenue CAGR12.1% · 20/25
- Net income CAGR18.2% · 20/25
- EPS CAGR ~5Y26.3% · 25/25
- Fwd implied growth17.9% · 20/25
Profitability95
- ROIC25.6% · 25/25
- ROE23.9% · 20/25
- Net margin26.9% · 25/25
- Operating margin33.4% · 25/25
Health75
- Altman Zn/a · 0/25
- Current ratio3.10 · 25/25
- Interest coverage661.2x · 25/25
- Net cash / debtNet cash · 25/25
Quality100
- Piotroski F8/9 · 25/25
- Beneish M-7.29 · 25/25
- FCF conversion115% · 25/25
- Margin stabilityσ 4.0% · 25/25
Moat100
- ROIC >12% years11/11 yrs · 25/25
- Median gross margin58.1% · 25/25
- FCF-positive years11/11 yrs · 25/25
- Worst-year net marginworst 13.5% · 25/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2026FinancialBest year on record$1.52B net income
- FY2025FinancialBecame debt-freecash now exceeds total debt
- FY2016FinancialProfitable every year on record11 consecutive profitable years in our data
- FY2016FinancialRevenue already above $1B$1.84B in first reported year
- FY2016FinancialPositive free cash flow every year since11-year streak
- 1989FoundedResmed was established in June 1989 by Peter Farrell in Australia
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (61.1%)
- Strongly profitable — 26.9% net margin
- Strong cash conversion — FCF is 29.2% of revenue
- Net cash position after subtracting debt from cash
- Interest covered 661.2× by operating earnings
Watch-outs
Nothing stands out as a concern in the available data.
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+9.9% YoY
- Profitable — makes more than it spends$1.52B TTM
- Profit growing — earnings are higher than last year+19.7% YoY
- Generates cash — cash left after running and investing$1.65B TTM
- Debt under control — could handle its obligationsmore cash than debt
- Established company — not a micro-cap — lower blow-up risk$32.4B market cap
- Not printing shares — share count not ballooning — you keep your slice-0.3% shares over ~5y
- Proven track record — years of profitability behind it11/11 profitable years
- Financially stable — balance sheet not near distresshealth score 50/100
- Pays a dividend — returns cash to shareholdersyield 1.08%
- Valuation not extreme — price not wildly above earningsP/E 21.2
Peer comparisonResMed Inc. vs 6 largest healthcare peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| RMD this company | $32.4B | 21.2 | +9.9% | 26.9% | Mixed |
| LLY Eli Lilly & Co. | $1.0T | 41.6 | +49.6% | 33.5% | Solid |
| JNJ Johnson & Johnson | $630.9B | 29.9 | +8.1% | 21.5% | Mixed |
| ABBV Abbvie Inc. | $488.5B | 77.4 | +10.4% | 9.8% | Mixed |
| MRK Merck & Co., Inc. | $361.0B | 113.2 | +4.6% | 4.8% | Mixed |
| UNH UNITEDHEALTH GROUP INCORPORATED (Delaware) | $340.7B | 24.1 | +6.5% | 3.1% | Mixed |
| NVS Novartis AG | $273.2B | 20.3 | +9.6% | 24.7% | Solid |
Head-to-head: RMD vs LLY · RMD vs JNJ · RMD vs ABBV
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2026. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/RMD
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of RMD on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $230.05 · market cap $32.4B.