ICU Medical Inc (ICUI) stock analysis

P/E against its history

Not enough price and earnings history to compare.

P/E above the industry

ICU Medical's P/E of 74.0 is above the Surgical, Medical, and Dental Instruments and Supplies median of 27.7.

EV/EBITDA below its 5-year median

ICU Medical's EV/EBITDA of 17.1 is below its 5-year median of 19.2.

P/B below the industry

ICU Medical's price-to-book of 2.03 is below the Surgical, Medical, and Dental Instruments and Supplies median of 3.22.

Trading above fair value

The share price of $178.26 is above our fair value estimate of $134.86.

Margin of safety under 20%

The price is 32.2% above fair value, so there is no margin of safety.

Revenue growing under 10% a year

Revenue grew -0.7% a year over the last three fiscal years, short of the 10% we look for.

EPS growth over 3 years

Needs positive EPS three years ago and today.

Earnings acceleration

Needs positive net income now, a year ago and five years ago.

Growing slower than the industry

Revenue grew -5.9% over the last twelve months; the Surgical, Medical, and Dental Instruments and Supplies median is 11.0%.

Guidance raised

ICU Medical raised its Fiscal Year 2026 GAAP net income outlook on Aug 6, 2026.

Gross margin improving

Gross margin was 40.3% over the last twelve months, against 36.5% a year earlier.

Return on equity under 15%

Return on equity was 2.8% over the last twelve months and averaged -0.9% over five years; we look for 15% on both.

Return on capital under 10%

Return on invested capital was 3.6%, below the 10% that usually covers the cost of capital.

Return on equity above the industry

ICU Medical's return on equity of 2.8% is above the Surgical, Medical, and Dental Instruments and Supplies median of -31.3%.

Earnings shrank over 5 years

Net income shrank 61.5% a year on average over the last five fiscal years.

Net margin above its 5-year average

Net margin was 2.8% over the last twelve months, against a 5-year average of -0.3%.

Net margin above the industry

ICU Medical's net margin of 2.8% is above the Surgical, Medical, and Dental Instruments and Supplies median of -14.1%.

High debt

Debt is 52.6% of shareholders' equity, above the 40% we consider low.

Debt trend

Needs a balance sheet from five years ago with positive equity.

Debt covered by cash flow

Operating cash flow over the last twelve months equals 24.2% of total debt.

Interest not well covered

Operating income covers interest expense 1.4 times; we look for at least 5.

Short-term assets cover short-term debts

Current assets are 2.37 times current liabilities.

Bankruptcy risk in the grey zone

The Altman Z-score is 2.66; above 3 is the safe zone and below 1.8 the distress zone.

No dividend

ICU Medical has not paid a dividend in the last twelve months.

Yield against Treasuries

No dividend.

Yield against the market

No dividend.

Dividend stability

No dividend.

Earnings cover

No dividend.

Cash-flow cover

No dividend.