PODDNasdaqSurgical & Medical Instruments & ApparatusFiscal year ends December 31
INSULET CORP
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 5, 2026
$141.96+0.86 (+0.61%)
Close on Oct 19, 2026
- Market cap
- $9.85B
- P/E (TTM)
- 26.5
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
71.6%+7.2 pts over 5 years
Operating margin
17.5%+11.8 pts over 5 years
Net margin
9.1%+8.4 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 | +30.7% | +27.5% | +24.5% | +26.2% | |
| Gross profit | +34.2% | +34.0% | +27.2% | +30.7% | |
| Operating income | +53.4% | +132.7% | +55.9% | – | |
| Net income | -40.9% | +277.3% | +105.2% | – | |
| EPS, diluted | -39.8% | +267.7% | +103.4% | – | |
| Free cash flow | +23.7% | – | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -59.5% | 2.0% | 18.1% | |
| Return on assets | -7.9% | 0.5% | 7.9% | |
| Current ratio | 6.64 | 6.01 | 2.81 | |
| Debt to equity | 5.27 | 1.75 | 0.63 | |
| Net debt to EBITDA | 62.50× | 1.28× | 0.41× | |
| Interest coverage | -0.7× | 1.1× | 8.0× | |
| Inventory turnover | 6.6× | 2.5× | 1.7× | |
| Capex to revenue | 6.0% | 14.3% | 7.1% | |
| Diluted shares | 57M | 66M | 72M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Insulet generated $1.33B from operations and spent $686.50M on capital expenditure, dividends and share buybacks. 91% of that went back into the business.
Generated
$1.33B
Used
$686.50M
Capital expenditure$626.90M91%Dividends$00%Share buybacks$59.60M9%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin9.1%
×Asset turnover0.86×
×Equity multiplier2.30×
=Return on equity, FY202518.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 9.1% | 0.86× | 2.30× | 18.1% |
| FY2024 | 20.2% | 0.73× | 2.92× | 43.0% |
| FY2023 | 12.2% | 0.70× | 4.00× | 34.1% |
| FY2022 | 0.4% | 0.61× | 4.16× | 0.9% |
| FY2021 | 1.5% | 0.56× | 3.38× | 2.9% |
| FY2020 | 0.8% | 0.60× | 4.44× | 2.0% |
| FY2019 | 1.6% | 0.71× | 7.19× | 8.1% |
| FY2018 | 0.6% | 0.65× | 4.71× | 1.8% |
| FY2017 | -5.8% | 0.73× | 5.75× | -24.2% |
| FY2016 | -7.9% | 1.00× | 7.53× | -59.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$247.10M
- Cash generatingOperating cash flow above zero$569.30M
- Return on assets improvedROA up on the prior year16.2% → 8.0%
- Earnings backed by cashOperating cash flow above net income$569.30M vs $247.10M
- Less leverageLong-term debt to assets fell42.0% → 29.2%
- Better liquidityCurrent ratio rose3.58 → 2.81
- No dilutionShare count did not rise74M → 72M
- Gross margin improvedGross margin up on the prior year69.79% → 71.63%
- More efficientAsset turnover rose0.80 → 0.88