ResMed Inc. (RMD)

NYSE: RMD · USD

$250

-0.80 (-0.3%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-10-04

Our latest published analysis: RMD rated Hold

ResMed Inc.'s published Hold conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$239 / share

Potential value

$282 / share

Upside to FV

+9.4%

from $250

Moat

9/10

Wide

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$30.8B
Revenue (ttm)	5.7B
Net income (ttm)	1.5B
EPS (ttm)	$10.4
Shares out	140.6M
P/E (trailing)	24.0x
P/E (forward)	18.5x
Dividend	$2.64 (1.05%)
Volume	682,775
Beta	0.75

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 5.7B
Net income (ttm): 1.5B
EPS (ttm): $10.4
P/E (trailing): 24.0x
P/E (forward): 18.5x
Market cap: $30.8B

Item	P1	P2	P3	P4	P5	Trend
Period	2022-06-30	2023-06-30	2024-06-30	2025-06-30	2026-06-30	Trend
Revenue	$3.58B	$4.22B	$4.69B	$5.15B	$5.65B	+12.1%
Gross profit	$2.02B	$2.36B	$2.66B	$3.05B	$3.45B	+14.3%
Operating income	$1.00B	$1.13B	$1.32B	$1.69B	$1.89B	+17.2%
Net income	$779.4M	$897.6M	$1.02B	$1.40B	$1.52B	+18.2%
EPS (diluted)	$5.30	$6.09	$6.92	$9.51	$10.43	+18.4%
EBITDA	$1.18B	$1.36B	$1.53B	$1.91B	$2.15B	+16.2%
R&D	$253.6M	$287.6M	$307.5M	$331.3M	$378.3M	+10.5%
SG&A	$737.5M	$874.0M	$917.1M	$993.1M	$1.12B	+11.0%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	売り
ABNB	Airbnb, Inc.	97.8B	37.5x	7.4x	16.8%	+24.4%	+28.5%	売り
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	強い買い
ABBV	AbbVie Inc.	505.6B	80.8x	7.9x	17.7%	+3.7%	+29.1%	売り
ABT	Abbott Laboratories	177.6B	38.2x	3.7x	7.2%	+2.7%	-17.2%	縮小
ALGN	Align Technology Inc.	10.9B	26.6x	2.6x	17.2%	+3.6%	+11.6%	縮小

Base and Bull scenarios

Base60%

Price target

$239.41

+9.4% from spot

Under the base case, ResMed achieves a target valuation of $239.41, representing a return of 9.4% relative to $218.89 with an assigned probability of 60.0%. This scenario requires steady volume growth across cloud-connected sleep therapy devices, sustained high-margin mask replenishment cycles, and manufacturing productivity that counters persistent electronic component inflation. Disconfirmation would occur if core device placements stall or if gross margin fails to recover across upcoming quarters.

Core sleep flow generator and mask resupply demand compounds at steady single-digit rates across major geographic markets.
Manufacturing productivity improvements and modest price adjustments stabilize gross margin against component cost inflation.
Execution of planned share repurchases and regular dividend distributions supports steady per-share earnings expansion.

Bull20%

Price target

$282.29

+29.0% from spot

In the bull case, ResMed reaches Potential value of $282.29, yielding an attractive return of 29.0% against $218.89 with a probability of 20.0%. This upside path requires accelerated patient diagnosis across international markets, rapid resolution of component allocation bottlenecks, and substantial operating leverage from SaaS software platforms following portfolio streamlining. Investors would observe confirmation through accelerating constant-currency revenue growth and expanding operating margins across quarterly reporting checkpoints.

Accelerating sleep apnea diagnosis rates and international market penetration drive double-digit device and mask revenue expansion.
Supply chain component headwinds abate rapidly, driving gross margin expansion well ahead of initial expectations.
Accelerated share repurchases combined with operating leverage deliver superior per-share earnings growth.

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($239.41). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.5%	2.8%	3.0%	3.3%	3.5%
7.6%	$262	$269	$278	$287	$298
8.1%	$244	$250	$257	$264	$272
8.6%	$229	$234	$239	$245	$252
9.1%	$216	$220	$225	$230	$235
9.6%	$205	$209	$212	$216	$221

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E18.5

P25 n/aP50 n/aP75 n/a

Trailing P/E21

P25 n/aP50 n/aP75 n/a

ROE24.3

P25 n/aP50 n/aP75 n/a

ROIC26.2

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All RMD indicators

Market & fundamental data

Available fields

292

Groups with data

Currency

USD

Showing 292 of 292 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000943819
Company name	ResMed Inc.
Country	United States
Country code	US
CUSIP number	761152107
Earnings date	2026-10-29
Earnings time	amc
Employees	11,370
Employees change	770
Employees growth	7.26%
Enterprise value	$34.5B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-06-30
First seen	2026-05-09
Fiscal year end	June
Founded	1989
In index	SP500
Industry	Medical Instruments & Supplies
IPO date	1995-06-02
Is primary listing	Yes
Is SPAC	No
ISIN number	US7611521078
Last 10-K release date	2026-08-13
Last earnings date	2026-08-06
Last refreshed	2026-10-28
Last stock split date	2010-08-31
Last stock split type	Forward
Market cap	$35.2B
Market cap category	Large-Cap
Next earnings date	2026-10-29
Options	Yes
Price	$250.00
Price currency	USD
Sector	Healthcare
SIC code	3841
Stock price date	2026-10-28
Symbol	RMD
U.S. state	California
Website	https://www.resmed.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	22.38x
Average P/E ratio (10Y)	38.58x
Average P/E ratio (3Y)	26.06x
Average P/E ratio (5Y)	34.94x
Earnings yield	4.17%
EV/Earnings	22.7x
EV/EBIT	18.01x
EV/EBITDA	16.5x
EV/FCF	20.96x
EV/Sales	6.12x
FCF / EV yield	4.77%
FCF yield	4.68%
Forward EV/Sales	5.96x
Forward P/E	20.75x
Forward P/S	6.07x
Graham number	103.50997
Graham upside	-58.67%
Industry forward P/E	22.65x
Industry P/E	75.03x
Lynch fair value	$260.75
Lynch upside	4.11%
P/(FCF - SBC) ratio	22.8x
P/(OCF - SBC) ratio	20.7x
P/B ratio	5.49x
P/E ratio	23.97x
P/FCF ratio	21.35x
P/OCF ratio	19.51x
P/S ratio	6.23x
PEG ratio	1.54x
Price / tangible book value	10.93x
Price/EBITDA ratio	16.81x
Sector forward P/E	23.56x
Sector P/E	50.08x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	33.96%
EBITDA margin	37.07%
Effective tax rate	20.64%
FCF margin	29.18%
Gross margin	61.62%
Operating margin	33.96%
Pretax margin	33.95%
Profit margin	26.94%
Profit per employee	$133,975
Profitable quarters	21
Profitable years	33
Revenue per employee	$497,225
ROA	14%
ROA (5Y)	13.12%
ROCE	25.36%
ROE	24.27%
ROE (5Y)	24.35%
ROIC	26.23%
ROIC (5Y)	22.79%
SBC / revenue	1.85%
Tax / revenue	7.01%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	9.67%
EPS growth (Q)	2.39%
EPS growth (QoQ)	-3.55%
EPS growth 10Y	15.4%
EPS growth 3Y	19.64%
EPS growth 5Y	26.34%
EPS growth quarters	10
EPS growth years	5
FCF growth	-0.73%
FCF growth (Q)	-20.6%
FCF growth (QoQ)	-22.47%
FCF growth 3Y	42.2%
FCF growth 5Y	21.07%
Gross profit growth	12.84%
Gross profit growth (Q)	4.83%
Gross profit growth 3Y	13.44%
Gross profit growth 5Y	13.02%
Net income growth	8.75%
Net income growth (Q)	0.98%
Net income growth (QoQ)	-3.84%
Net income growth 3Y	19.28%
Net income growth 5Y	26.27%
Net income growth quarters	10
Net income growth years	5
OCF growth	3.1%
OCF growth (Q)	-15.62%
OCF growth (QoQ)	-17.96%
OCF growth 10Y	12.67%
OCF growth 3Y	37.59%
OCF growth 5Y	19.64%
Operating income growth	13.78%
Operating income growth (Q)	-1.08%
Operating income growth 3Y	18.56%
Operating income growth 5Y	15.91%
Revenue growth	9.85%
Revenue growth (Q)	8.58%
Revenue growth (QoQ)	2.25%
Revenue growth 10Y	11.89%
Revenue growth 3Y	10.21%
Revenue growth 5Y	12.08%
Revenue growth quarters	21
Revenue growth years	32

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-156.3M
Depreciation and amortization	$175.8M
EBIT	$1.9B
EBITDA	$2.1B
EPS	$10.43
FCF per share	$11.73
Financing cash flow	$-1B
Free cash flow	$1.6B
Free cash flow minus SBC	$1.5B
Gross profit	$3.5B
Income taxes	$396.1M
Investing cash flow	$-545.2M
Net borrowing	$-10M
Net cash flow	$259.8M
Net income	$1.5B
Operating cash flow minus SBC	$1.7B
Operating income	$1.9B
Revenue	$5.7B
Stock-based compensation	$104.3M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	11.92
Book value per share	$45.66
Debt / EBITDA	0.39
Debt / equity	0.13
Debt / FCF	0.5
Goodwill	$2.9B
Long-term assets	$4.6B
Long-term liabilities	$985.4M
Net cash (debt)	$643.3M
Net cash / market cap	1.83%
Net cash growth	79.88%
Net debt / EBITDA	-0.31
Net debt / equity	-0.1
Net debt / FCF	-0.39
Piotroski F-Score	6
Property, plant and equipment	$735M
Shareholders' equity	$6.6B
Tangible book value	$3.2B
Tangible book value per share	$22.35
Total assets	$9B
Total cash	$1.5B
Total debt	$825.9M
Total liabilities	$2.4B
WACC	8.18%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.66
Current assets	$4.3B
Current liabilities	$1.4B
Current ratio	3.1
Inventory turnover	2.23
Net working capital	$1.7B
Quick ratio	1.83
Working capital	$2.9B
Working capital turnover	2.09

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	0.87%
Dividend growth	12.33%
Dividend growth (10Y)	7.18%
Dividend growth (3Y)	10.97%
Dividend growth (5Y)	9.12%
Dividend growth years	13
Dividend payment date	2026-09-24
Dividend payment years	15
Dividend payout frequency	Quarterly
Dividend per share	$2.64
Dividend yield	1.05%
Ex-dividend date	2026-08-20
FCF payout ratio	22.51%
Last dividend	$0.66
Payout ratio	25.31%
Shareholder yield	1.93%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	317.85%
10Y return CAGR	16.66%
10Y total return	366.78%
150-day SMA	$216.29
15Y price change	773.21%
15Y return CAGR	17.04%
15Y total return	959.37%
1D price change	-0.32%
1M price change	12.61%
1M total return	12.61%
1W price change	1.54%
1W total return	1.54%
1Y price change	-3.55%
1Y return CAGR	-2.53%
1Y total return	-2.53%
20-day SMA	$237.19
200-day SMA	$225.04
20Y price change	1,034.82%
20Y return CAGR	14.01%
20Y total return	1,276.75%
3M price change	23.1%
3M total return	23.46%
3Y price change	85.67%
3Y return CAGR	24.12%
3Y total return	91.23%
50-day SMA	$231.32
50-day SMA vs 200-day SMA	50over200
52-week high	$277.67
52-week high date	2026-02-10
52-week low	$180.27
52-week low date	2026-06-02
5Y price change	-6.76%
5Y return CAGR	-0.49%
5Y total return	-2.43%
6M price change	12.6%
6M total return	13.26%
All-time high	$301.34
All-time high date	2021-09-09
All-time low	$0.61
All-time low date	1995-06-07
Average true range (ATR)	$5.55
Average volume	1.1M
Beta (1Y)	0.21
Beta (2Y)	0.63
Beta (5Y)	0.75
Change from 52-week high	-9.97%
Change from 52-week low	38.69%
Change from all-time high	-17.04%
Change from all-time low	40,923.96%
Change from open	0.56%
Day's gap	-0.87%
Dollar volume	$170.7M
High price	$252.09
Low price	$248.62
Monthly RSI	54.76
Open price	$248.62
Position in 52-week range	39.77%
Premarket change	-2.31%
Premarket close	$250.80
Premarket price	$245.00
Previous close	$250.80
Price vs 150-day SMA	15.59%
Price vs 20-day SMA	5.4%
Price vs 200-day SMA	11.09%
Price vs 50-day SMA	8.08%
Relative volume	0.65
RSI	70.27
Sharpe ratio	-0.09
Sharpe ratio (3Y)	0.63
Sharpe ratio (5Y)	0.03
Sortino ratio	0.08
Sortino ratio (3Y)	1.14
Sortino ratio (5Y)	0.22
Volume	682.8K
Weekly RSI	61.65
YTD price change	3.79%
YTD total return	4.64%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	139.8M
Float percentage	99.41%
Shares change (QoQ)	-0.51%
Shares change (YoY)	-0.87%
Shares held by insiders	0.49%
Shares held by institutions	80.4%
Shares outstanding	140.6M
Short % of float	9.14%
Short % of shares	9.09%
Short ratio	10 days

Deeper analysis on RMD

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this RMD report

What is the latest published RMD stock rating?

ResMed Inc. is shown with Hold in the latest published report, analyzed 2026-10-04. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full RMD analysis?

The full latest published report, analyzed 2026-10-04, lives at /stocks/RMD/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for RMD?

The latest published report analyzed 2026-10-04 gives RMD a fair value of USD 239 and a potential value of USD 282. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the RMD page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-10-04). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

HoldRMD · Fair value $239+9.4%

Read full analysis →

ResMed Inc. (RMD)

Our latest published analysis: RMD rated Hold

Price

Financial snapshot

Fair-value bridge

Latest news · RMD

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All RMD indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on RMD

Frequently asked questions

レーティング履歴

Category	Score	Reading
Valuation	6.0
Management	8.5
Balance Sheet	8.5
Profitability	7.5
Revenue Growth	6.0
Risk Assessment	9.0
Competitive Moat	9.0
Earnings Quality	6.0
Capital Efficiency	7.5