RMD Healthcare

ResMed Inc.

$227.08-2.52%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Healthcare
Industry: Medical Instruments & Supplies
Country: United States
Market cap: 32.8B USD
Enterprise value: 33.7B USD
Full-time employees: 11,370

Overall health

Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings
About average: growth and risk (debt, liquidity and share-price swings)growth and risk

Ranks #156 of 1,157 healthcare companies (top 14%)

See how it ranks against its peers

Worth knowing

Profits growing faster than sales. Since FY Jun 2023: revenue +34%, operating profit +67%.
Since FY Jun 2023, ResMed's revenue grew 34% while operating profit grew 67%: each extra dollar of sales is adding more profit.
Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $3.2B in FY Jun 2021 to $5.7B in FY Jun 2026.
ResMed's fiscal-year revenue rose in each of the five years to FY Jun 2026, from $3.2B to $5.7B.
Profit is backed by cash. Free cash flow is 108% of reported profit.
ResMed's free cash flow is 108% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.
Wide margins. Operating margin 33% (12 months to Jun 2026) vs a peer median of 7.1%.Operating margin 33% vs peers 7.1%.
ResMed keeps 33% of revenue as operating profit, more than 95% of peers (median 7.1%).

StockQuotient Score

69/ 100

Oct 5 70 → Nov 4 69 (-1)

Valuation

Is the price right?

68/100

Moderate▲ 3 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 65 → 68

Share price -9.5%+3

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Stronger than most peers on:

▲ Earnings yield
▲ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield4.6%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score 2.14Sector median: 0.0148 · MAD: 0.0148

EBITDA yield6.5%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score 0.63Sector median: 0.0401 · MAD: 0.0401

Free cash flow yield5.0%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 0.00Sector median: 0.0000 · MAD: 0.0000

Other data (not scored)

Book yield20.1%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3716 · MAD: 0.2313

Growth

Is it growing?

54/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 2.1%

Why

Helped by:

▲ 3-yr revenue

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth10.3%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.02Sector median: 0.0976 · MAD: 0.2991

3-year revenue growth10.2%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 0.52Sector median: 0.0584 · MAD: 0.0840

Revenue growth9.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.39Sector median: 0.0609 · MAD: 0.0974

Profitability

Does it earn well?

96/100

Strong

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ Operating margin
▲ ROA
▲ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin33.4%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 2.16Sector median: 0.0706 · MAD: 0.1217

Return on assets17.0%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 2.47Sector median: 0.0166 · MAD: 0.0537

Return on invested capital25.8%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 2.10Sector median: 0.0471 · MAD: 0.1004

Other data (not scored)

Gross margin61.1%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.4697 · MAD: 0.2310

Return on equity23.1%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0330 · MAD: 0.1225

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Helped by:

▲ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.77

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -0.42Sector median: 0.6250 · MAD: 0.3380

Current ratio3.10×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.37Sector median: 2.5860 · MAD: 1.3850

Debt / equity0.10×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.60Sector median: 0.2215 · MAD: 0.2039

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about ResMed

Is ResMed getting weaker?: Its latest SEC filing (Oct 1, 2026) showed no major changes. Its overall score is unchanged at 69/100 since Oct 28, 2026.
How is ResMed valued vs its peers?: Priced lower than most peers relative to what it earns. Valuation scores 68/100 against 1,393 healthcare peers. Earnings yield 4.6% vs a peer median of 1.5% (stronger than 75% of peers).Earnings yield 4.6% vs peers 1.5% (stronger than 75% of peers).
Is ResMed growing?: At about the same pace as its peers. Growth scores 54/100 against 1,393 healthcare peers. 3-year revenue growth 10.2% vs a peer median of 5.8% (stronger than 63% of peers).3-year revenue growth 10.2% vs peers 5.8% (stronger than 63% of peers).
How profitable is ResMed?: More profitable than most of its peers. Profitability scores 96/100 against 1,393 healthcare peers. Operating margin 33.4% vs a peer median of 7.1% (stronger than 95% of peers).Operating margin 33.4% vs peers 7.1% (stronger than 95% of peers).
How risky is ResMed?: Moderate risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Debt / equity 0.10× vs a peer median of 0.22× (stronger than 68% of peers).Debt / equity 0.10× vs peers 0.22× (stronger than 68% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Oct 1, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	5.5B USD	5.7B USD	+2.1%
Net income (12 months)	1.5B USD	1.5B USD	+0.2%
Operating margin	34.2%	33.4%	−0.8 pts
Free cash flow (12 months)	1.8B USD	1.6B USD	−6.0%
Debt	664.1M USD	659.4M USD	−0.7%
Cash	1.7B USD	1.5B USD	−11.5%
Shares outstanding	145.1M	144.3M	−0.6%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Medical Instruments & Supplies · 25 companies

Valuations in Medical Instruments & Supplies are near the bottom of their range since Jul 2018.

18% of months since Jul 2018 were valued lower than now.
0% of companies are in the most expensive fifth of their own price-to-sales history.
Median price-to-sales is +17% vs the whole market, against a usual +86%.

Jul 2018Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY Jun 2022	FY Jun 2023	FY Jun 2024	FY Jun 2025	FY Jun 2026	Change
Gross margin	56.6%	55.8%	56.7%	59.4%	61.1%	▲ 1.7 pts
Operating margin	28.0%	26.8%	28.2%	32.7%	33.4%	▲ 0.6 pts
Net margin	21.8%	21.3%	21.8%	27.2%	26.9%	▼ 0.3 pts
Return on assets (ROA)	15.3%	13.3%	14.9%	17.1%	17.0%	▼ 0.1 pts
Return on equity (ROE)	23.2%	21.7%	21.0%	23.5%	23.1%	▼ 0.3 pts
Free cash flow margin	6.0%	13.6%	27.8%	32.3%	29.2%	▼ 3.1 pts
Current ratio	2.80×	3.12×	2.59×	3.44×	3.10×	▼ 9.9%
Quick ratio	1.72×	1.81×	1.69×	2.53×	2.42×	▼ 4.3%
Debt to equity	0.23×	0.35×	0.15×	0.11×	0.10×	▼ 11%
Interest coverage	—	—	—	—	—	—

RMD price history

Price history is added with the daily price update and will appear after the next one.

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Sector leaderboards

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Bringing the fundamentals into focus…

Worth knowing

Profits growing faster than sales. Since FY Jun 2023: revenue +34%, operating profit +67%.

Since FY Jun 2023, ResMed's revenue grew 34% while operating profit grew 67%: each extra dollar of sales is adding more profit.

Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $3.2B in FY Jun 2021 to $5.7B in FY Jun 2026.

ResMed's fiscal-year revenue rose in each of the five years to FY Jun 2026, from $3.2B to $5.7B.

Profit is backed by cash. Free cash flow is 108% of reported profit.

ResMed's free cash flow is 108% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

Wide margins. Operating margin 33% (12 months to Jun 2026) vs a peer median of 7.1%.Operating margin 33% vs peers 7.1%.

ResMed keeps 33% of revenue as operating profit, more than 95% of peers (median 7.1%).

Questions investors ask about ResMed

Is ResMed getting weaker?

Its latest SEC filing (Oct 1, 2026) showed no major changes. Its overall score is unchanged at 69/100 since Oct 28, 2026.

How is ResMed valued vs its peers?

Priced lower than most peers relative to what it earns. Valuation scores 68/100 against 1,393 healthcare peers. Earnings yield 4.6% vs a peer median of 1.5% (stronger than 75% of peers).Earnings yield 4.6% vs peers 1.5% (stronger than 75% of peers).

Is ResMed growing?

At about the same pace as its peers. Growth scores 54/100 against 1,393 healthcare peers. 3-year revenue growth 10.2% vs a peer median of 5.8% (stronger than 63% of peers).3-year revenue growth 10.2% vs peers 5.8% (stronger than 63% of peers).

How profitable is ResMed?

More profitable than most of its peers. Profitability scores 96/100 against 1,393 healthcare peers. Operating margin 33.4% vs a peer median of 7.1% (stronger than 95% of peers).Operating margin 33.4% vs peers 7.1% (stronger than 95% of peers).

How risky is ResMed?

Moderate risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Debt / equity 0.10× vs a peer median of 0.22× (stronger than 68% of peers).Debt / equity 0.10× vs peers 0.22× (stronger than 68% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

5.5B USD

5.7B USD

+2.1%

Net income (12 months)

1.5B USD

1.5B USD

+0.2%

Operating margin

34.2%

33.4%

−0.8 pts

Free cash flow (12 months)

1.8B USD

1.6B USD

−6.0%

Debt

664.1M USD

659.4M USD

−0.7%

Cash

1.7B USD

1.5B USD

−11.5%

Shares outstanding

145.1M

144.3M

−0.6%

Key ratios

FY Jun 2022

FY Jun 2023

FY Jun 2024

FY Jun 2025

FY Jun 2026

Change

Gross margin

56.6%

55.8%

56.7%

59.4%

61.1%

▲ 1.7 pts

Operating margin

28.0%

26.8%

28.2%

32.7%

33.4%

▲ 0.6 pts

Net margin

21.8%

21.3%

21.8%

27.2%

26.9%

▼ 0.3 pts

Return on assets (ROA)

15.3%

13.3%

14.9%

17.1%

17.0%

▼ 0.1 pts

Return on equity (ROE)

23.2%

21.7%

21.0%

23.5%

23.1%

▼ 0.3 pts

Free cash flow margin

6.0%

13.6%

27.8%

32.3%

29.2%

▼ 3.1 pts

Current ratio

2.80×

3.12×

2.59×

3.44×

3.10×

▼ 9.9%

Quick ratio

1.72×

1.81×

1.69×

2.53×

2.42×

▼ 4.3%

Debt to equity

0.23×

0.35×

0.15×

0.11×

0.10×

▼ 11%

Interest coverage

—