ResMed Inc. (RMD) Stock Analysis
Healthcare · Medical Instruments & Supplies · NYSE
ResMed Inc. (RMD) posted $5.15B in revenue for fiscal 2025 (up 9.8% year over year), at a 27.2% net margin, and has compounded revenue about 11.7%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on ResMed Inc.
ResMed Inc. has grown revenue from $1.84B to $5.15B over the last 10 fiscal years, compounding about 11.7% a year. The most recent year was up 9.8%, so growth has cooled from its longer-run pace.
Net margin sits at 27.2%, up 5.4 points year over year on a 59.4% gross margin. It carries about $668.29M of total debt.
At today's valuation the market is pricing in roughly 6.6% annual free-cash-flow growth — versus the 18.6% it actually delivered over the last five years, so the price is arguably undemanding against what it has already proven.
Synthesised from ResMed Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
ResMed Inc. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.84B | $2.07B | $2.34B | $2.61B | $2.96B | $3.20B | $3.58B | $4.22B | $4.69B | $5.15B |
| Gross profit | $1.07B | $1.20B | $1.33B | $1.49B | $1.72B | $1.84B | $2.02B | $2.36B | $2.66B | $3.05B |
| Net income | $352.41M | $342.28M | $315.59M | $404.59M | $621.67M | $474.50M | $779.44M | $897.56M | $1.02B | $1.40B |
| Net margin | 19.2% | 16.6% | 13.5% | 15.5% | 21.0% | 14.8% | 21.8% | 21.3% | 21.8% | 27.2% |
Source: ResMed Inc. SEC filings (10-K). 17 years of history available in the interactive view.
ResMed Inc.: no obvious red flags in the filings
Our deterministic scan of the filed statements — receivables vs sales, earnings vs cash, dilution, leverage and margins — didn't flag anything. Ask about the risks →
What growth is priced into RMD stock?
At today's market cap of $30.60B, ResMed Inc. is priced for free-cash-flow growth of about 6.6% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $1.66B from the FY ending 2025-06-30). For comparison, free cash flow actually grew 18.6%/yr over the last five fiscal years and revenue 11.7%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 17 years of ResMed Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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ResMed Inc. financial history by metric
Compare ResMed Inc. with peers
About ResMed Inc.
ResMed Inc. develops, manufactures, distributes, and markets medical devices and cloud-based software applications to diagnose, treat, and manage respiratory disorders in the United States and internationally. The company operates in two segments, Sleep and Breathing Health, and Residential Care Software. It offers sleep recorders for the diagnosis and titration of sleep apnea in sleep clinics, hospitals, and at home, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry; and EasyCare Tx, a sleep lab solution. The company also provides AirView, a cloud-based system that enables remote monitoring and changing of patients' device settings; myAir, a personalized therapy management application for patients with sleep apnea that provides support, education, and troubleshooting tools for increased patient engagement and improved compliance; and connectivity module which provides a cellular connection between compatible ventilation devices and AirView system. In addition, the company offers Brightree solutions which are solutions and services for organizations in home medical equipment and pharmacy, orthotic and prosthetic, and home infusion; HEALTHCAREfirst solutions that offers electronic health record, software, billing and coding services, and advanced analytics that enables home health and hospice agencies to optimize clinical, financial and administrative processes; MatrixCare EHR software as a service solutions used by skilled nursing and senior living providers, life plan communities, and home health and hospice sectors; and MEDIFOX DAN software solutions that is used by residential care providers, such as home health and nursing home providers. ResMed Inc. was founded in 1989 and is headquartered in San Diego, California.
ResMed Inc. — frequently asked questions
What is ResMed Inc.'s revenue?
ResMed Inc. (RMD) reported revenue of $5.15B for fiscal year 2025, up 9.8% from the prior year, according to its SEC filings.
Is ResMed Inc. profitable?
Yes. RMD earned net income of $1.40B in fiscal 2025, a net margin of 27.2%.
What is RMD's P/E ratio?
ResMed Inc. trades at a price-to-earnings ratio of about 20.3 based on the latest data in our nightly-refreshed cache.
How fast is ResMed Inc. growing?
RMD's revenue grew at roughly 11.7% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does ResMed Inc. have?
As of fiscal year 2025, RMD carried roughly $668.29M in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is ResMed Inc.'s gross margin?
RMD's gross margin was 59.4% in fiscal 2025 — gross profit of $3.05B on revenue of $5.15B.
What is ResMed Inc.'s market cap?
ResMed Inc. (RMD) has a market capitalization of about $30.60B, based on the latest data in our nightly-refreshed cache.
When does ResMed Inc.'s fiscal year end?
RMD's fiscal year ends in June. Its most recent annual filing covers the fiscal year ending 2025-06-30.
What growth is priced into RMD stock?
At today's market cap of $30.60B, ResMed Inc. is priced for free-cash-flow growth of about 6.6% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $1.66B from the FY ending 2025-06-30). For comparison, free cash flow actually grew 18.6%/yr over the last five fiscal years and revenue 11.7%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from ResMed Inc.'s official SEC filings (10-K and 10-Q), covering 17 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.