RMDNYSESurgical & Medical Instruments & ApparatusFiscal year ends June 30Also trades as RSMDF
RESMED INC
Financials through Q4 FY2026, quarter ended Jun 30, 2026Last filing: 10-K on Aug 13, 2026
$239.77+0.80 (+0.33%)
Close on Oct 19, 2026
- Market cap
- $34.79B
- P/E (TTM)
- 23.0
- Dividend yield
- 1.00%
Margins
Share of revenue, fiscal years 2012 to 2026
Gross margin
61.1%+3.5 pts over 5 years
Operating margin
33.4%+5.1 pts over 5 years
Net margin
26.9%+12.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +9.9% | +10.2% | +12.1% | +11.9% | |
| Gross profit | +13.0% | +13.6% | +13.4% | +12.5% | |
| Operating income | +11.9% | +18.6% | +15.9% | +16.0% | |
| Net income | +8.8% | +19.3% | +26.3% | +15.8% | |
| EPS, diluted | +9.7% | +19.6% | +26.3% | +15.4% | |
| Free cash flow | -0.7% | +42.2% | +21.1% | +12.9% | |
| Dividend per share | +13.2% | +10.9% | +9.0% | +7.2% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | 18.7% | 17.6% | 24.3% | |
| Return on assets | 10.2% | 10.2% | 17.8% | |
| Current ratio | 4.57 | 1.73 | 3.10 | |
| Interest coverage | 15.1× | 37.7× | – | |
| Inventory turnover | 3.5× | 3.1× | 2.4× | |
| Capex to revenue | 3.0% | 3.2% | 2.8% | |
| Diluted shares | 142M | 146M | 146M |
Where the cash went
Fiscal 2022 to 2026, five years combined
Resmed generated $6.00B from operations and spent $3.20B on capital expenditure, dividends and share buybacks. 19% of that went back into the business.
Generated
$6.00B
Used
$3.20B
Capital expenditure$600.12M19%Dividends$1.45B45%Share buybacks$1.15B36%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin26.9%
×Asset turnover0.66×
×Equity multiplier1.37×
=Return on equity, FY202624.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | 26.9% | 0.66× | 1.37× | 24.3% |
| FY2025 | 27.2% | 0.68× | 1.39× | 25.9% |
| FY2024 | 21.8% | 0.69× | 1.51× | 22.7% |
| FY2023 | 21.3% | 0.71× | 1.58× | 24.0% |
| FY2022 | 21.8% | 0.73× | 1.57× | 25.0% |
| FY2021 | 14.8% | 0.69× | 1.73× | 17.6% |
| FY2020 | 21.0% | 0.68× | 1.90× | 27.2% |
| FY2019 | 15.5% | 0.73× | 1.74× | 19.6% |
| FY2018 | 13.5% | 0.72× | 1.63× | 15.7% |
| FY2017 | 16.6% | 0.61× | 1.84× | 18.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
5of 8 tests passed in fiscal 2026. Some tests lack the figures they need.
- ProfitableNet income above zero$1.52B
- Cash generatingOperating cash flow above zero$1.81B
- Return on assets improvedROA up on the prior year20.4% → 18.6%
- Earnings backed by cashOperating cash flow above net income$1.81B vs $1.52B
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose3.44 → 3.10
- No dilutionShare count did not rise147M → 146M
- Gross margin improvedGross margin up on the prior year59.36% → 61.06%
- More efficientAsset turnover rose0.75 → 0.69