ICUINasdaqSurgical & Medical Instruments & ApparatusFiscal year ends December 31
ICU MEDICAL INC/DE
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$161.24−1.75 (-1.07%)
Close on Oct 19, 2026
- Market cap
- $4.04B
- P/E (TTM)
- 134.4
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
36.8%+0.5 pts over 5 years
Operating margin
1.9%−5.8 pts over 5 years
Net margin
0.0%−6.8 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -6.3% | -0.7% | +11.9% | +20.6% | |
| Gross profit | -0.3% | +5.6% | +12.2% | +16.4% | |
| Operating income | -0.3% | – | -15.3% | -4.6% | |
| Net income | – | – | -61.5% | -33.8% | |
| EPS, diluted | – | – | -62.5% | -36.3% | |
| Free cash flow | -26.4% | – | -6.8% | +6.0% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 10.2% | 6.0% | 0.0% | |
| Return on assets | 9.5% | 5.0% | 0.0% | |
| Current ratio | 14.04 | 4.71 | 2.39 | |
| Debt to equity | 0.00 | – | 0.60 | |
| Net debt to EBITDA | -4.36× | – | 4.01× | |
| Interest coverage | 702.9× | 56.0× | 0.5× | |
| Inventory turnover | 3.8× | 2.5× | 2.3× | |
| Capex to revenue | 6.2% | 7.2% | 3.9% | |
| Diluted shares | 17M | 22M | 25M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Icu Medical generated $879.75M from operations and spent $459.49M on capital expenditure, dividends and share buybacks. 89% of that went back into the business.
Generated
$879.75M
Used
$459.49M
Capital expenditure$410.16M89%Dividends$00%Share buybacks$49.33M11%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin0.0%
×Asset turnover0.54×
×Equity multiplier2.02×
=Return on equity, FY20250.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 0.0% | 0.54× | 2.02× | 0.0% |
| FY2024 | -4.9% | 0.56× | 2.10× | -5.8% |
| FY2023 | -1.3% | 0.51× | 2.11× | -1.4% |
| FY2022 | -3.3% | 0.71× | 1.73× | -4.0% |
| FY2021 | 7.8% | 0.72× | 1.17× | 6.6% |
| FY2020 | 6.8% | 0.74× | 1.20× | 6.0% |
| FY2019 | 8.0% | 0.77× | 1.24× | 7.7% |
| FY2018 | 2.1% | 0.91× | 1.25× | 2.3% |
| FY2017 | 5.3% | 1.17× | 1.18× | 7.4% |
| FY2016 | 16.6% | 0.57× | 1.07× | 10.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$732.00K
- Cash generatingOperating cash flow above zero$179.85M
- Return on assets improvedROA up on the prior year-2.7% → 0.0%
- Earnings backed by cashOperating cash flow above net income$179.85M vs $732.00K
- Less leverageLong-term debt to assets fell36.4% → 31.3%
- Better liquidityCurrent ratio rose2.59 → 2.39
- No dilutionShare count did not rise24M → 25M
- Gross margin improvedGross margin up on the prior year34.62% → 36.84%
- More efficientAsset turnover rose0.54 → 0.53