ResMed

Health Care Health Care Equipment San Diego, California Last filing Aug 8, 2025 · FY2025

                    Revenue
                    FY2025
                
$5.1B
                    3y CAGR +12.9%
                    
                    P88
                    
                    +9.8%
                    
                    Net income
                    FY2025
                
$1.4B
                    Net margin +27.2%
                    
                    P87
                    
                    +37.2%
                    
                    Total assets
                    FY2025
                
$8.2B
                    ROA +17.1%
                    
                    P92
                    
                    +18.9%
                    
                    Operating cash flow
                    FY2025
                
$1.8B
                    FCF margin +32.3%
                    
                    P100
                    
                    +25.0%

19 yrs · FY1997–FY2025 10 gaps (2001–1998, 2008–2003) 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

33 accounts · 5 years

Total assets $8.2B

Total liabilities $2.2B

Shareholders equity $6.0B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	$1.2B 407.4%	$238.4M 4.6%	$227.9M -16.7%	$273.7M -7.3%	$295.3M
Accounts Receivable	$939.5M 12.2%	$837.3M 18.8%	$704.9M 22.4%	$576.0M -6.2%	$614.3M
Inventory	$927.7M	—	—	—	—
Prepaid Expenses	$429.0M	—	—	—	—
Other Current Assets	$164.5M	—	—	—	—
Total Current Assets	$3.5B 48.7%	$2.4B -0.4%	$2.4B 22.6%	$1.9B 22.7%	$1.6B
Property,Plant and Equipment	$550.8M 0.5%	$548.0M 1.9%	$537.9M 8.0%	$498.2M 7.5%	$463.5M
Operating Lease Assets	$167.5M 10.8%	$151.1M 18.1%	$128.0M -3.3%	$132.3M 2.9%	$128.6M
Goodwill	$3.0B 7.2%	$2.8B 2.6%	$2.8B 43.1%	$1.9B 0.4%	$1.9B
Intangible Assets	$464.9M	—	—	—	—
Long Term Investments	$76.2M 16.4%	$65.5M 0.1%	$65.4M 559.1%	$9.9M -42.2%	$17.2M
Other Noncurrent Assets	$185.8M -34.6%	$284.0M 8.2%	$262.5M 52.8%	$171.7M 6.7%	$160.9M
Total Assets	$8.2B 18.9%	$6.9B 1.8%	$6.8B 32.5%	$5.1B 7.8%	$4.7B
Liabilities
Accounts Payable	$278.2M 17.0%	$237.7M 57.7%	$150.8M -5.3%	$159.2M 15.4%	$138.0M
Accrued Liabilities	$402.3M 6.5%	$377.7M 3.3%	$365.7M 6.1%	$344.7M 7.5%	$320.6M
Deferred Revenue	$166.0M	—	—	—	—
Current Portion of Long Term Debt	$9.9M	—	—	—	—
Operating Lease Liabilities	$30.5M	—	—	—	—
Other Current Liabilities	$0 -100.0%	$35.1M 27.2%	$27.6M 6.7%	$25.9M 17.5%	$22.0M
Total Current Liabilities	$1.0B 11.9%	$910.7M 20.1%	$758.5M 10.0%	$689.3M -24.4%	$911.8M
Long Term Debt	$658.4M -5.6%	$697.3M -51.3%	$1.4B 87.0%	$765.3M 19.0%	$643.4M
Deferred Revenue Noncurrent	$156.8M	—	—	—	—
Operating Lease Liabilities Noncurrent	$153.0M 8.2%	$141.4M 21.0%	$116.9M -3.0%	$120.5M 4.9%	$114.8M
Other Noncurrent Liabilities	$141.5M 234.9%	$42.3M -38.0%	$68.2M 1041.0%	$6.0M -12.2%	$6.8M
Total Liabilities	$2.2B 9.9%	$2.0B -23.4%	$2.6B 51.1%	$1.7B -5.8%	$1.8B
Equity
Preferred Stock	$0	$0	$0	$0	$0
Common Stock	$761.0K 29.4%	$588.0K 0.0%	$588.0K 0.3%	$586.0K 0.5%	$583.0K
Additional Paid In Capital	$2.0B 7.2%	$1.9B 7.0%	$1.8B 5.3%	$1.7B 3.7%	$1.6B
Retained Earnings	$6.1B	—	—	—	—
Treasury Stock	$2.1B	—	—	—	$1.6B
Accumulated Other Comprehensive Income	$-74.7M	—	—	—	—
Total Stockholders Equity	$6.0B 22.7%	$4.9B 17.8%	$4.1B 22.9%	$3.4B 16.5%	$2.9B
Total Liabilitiesand Equity	$8.2B 18.9%	$6.9B 1.8%	$6.8B 32.5%	$5.1B 7.8%	$4.7B

Income Statement

Revenue, expense, and profitability

19 accounts · 5 years

Revenue $5.1B

Operating income $1.7B

Net income $1.4B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	$5.1B	—	—	—	—
Expenses Cost of Revenue	$2.1B	—	—	—	—
Expenses Research and Development	$331.3M	—	—	—	—
Expenses Selling,General and Administrative	$991.0M	—	—	—	—
Expenses Depreciation and Amortization	$198.5M	—	—	—	—
Expenses Share Based Compensation	$91.7M	—	—	—	—
Expenses Restructuring and Asset Impairment	$0	—	—	—	—
Expenses Operating Expenses	$1.4B	—	—	—	—
Other Income Expense Gross Profit	$3.1B 15.1%	$2.7B 12.7%	$2.4B 16.4%	$2.0B 10.1%	$1.8B
Other Income Expense Operating Income	$1.7B	—	—	—	—
Other Income Expense Other Income/expense	$-5.3M	—	—	—	—
Other Income Expense Income Before Tax	$1.7B	—	—	—	—
Income Tax Income Tax Expense	$276.8M	—	—	—	—
net Income net Income	$1.4B	—	—	—	—
net Income Comprehensive Income	$1.6B	—	—	—	—
Earnings Per Share Basic Eps	$10	—	—	—	—
Earnings Per Share Diluted Eps	$10	—	—	—	—
Earnings Per Share Weighted Average Shares Basic	$146.7M	—	—	—	—
Earnings Per Share Weighted Average Shares Diluted	$147.3M	—	—	—	—

Cash Flow Statement

Operating, investing, and financing flows

23 accounts · 5 years

Operating cash flow $1.8B

Investing cash flow $-200.0M

Financing cash flow $-606.3M

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	$1.4B 37.2%	$1.0B 13.7%	$897.6M 15.2%	$779.4M 64.3%	$474.5M
Operating Activities Depreciation and Amortization	$111.8M 25.8%	$88.9M 5.0%	$84.7M 4.6%	$81.0M 3.3%	$78.4M
Operating Activities Stock Based Compensation	$91.7M	—	—	—	—
Operating Activities Deferred Income Taxes	$-61.0M -22.3%	$-49.9M -9.8%	$-45.4M -284.4%	$-11.8M 28.8%	$-16.6M
Operating Activities Changes In Operating Assets and Liabilities	$74.2M -62.8%	$199.4M -62.0%	$524.8M 146.6%	$212.8M -49.3%	$420.0M
Operating Activities net Cash From Operating Activities	$1.8B	—	—	—	—
Investing Activities Capital Expenditures	$89.9M	—	—	—	—
Investing Activities Business Acquisitions	$139.2M	—	—	—	—
Investing Activities Purchases of Investments	$6.4M	—	—	—	—
Investing Activities Other Investing Activities	$-41.6M -529.3%	$9.7M 163.8%	$-15.2M -188.5%	$17.2M 189.4%	$-19.2M
Investing Activities net Cash From Investing Activities	$-200.0M	—	—	—	—
Financing Activities Proceeds From Debt	$0	—	—	—	—
Financing Activities Repayment of Debt	$40.0M	—	—	—	—
Financing Activities Repurchase of Common Stock	$300.0M	—	—	—	—
Financing Activities Dividends Paid	$310.9M	—	—	—	—
Financing Activities Proceeds From Stock Issuance	$74.4M	—	—	—	—
Financing Activities Tax Withholding On Stock Based Compensation	$18.1M	—	—	—	—
Financing Activities Other Financing Activities	$855.0K -33.9%	$1.3M -45.2%	$2.4M	$0 -100.0%	$3.5M
Financing Activities net Cash From Financing Activities	$-606.3M	—	—	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	$25.8M	—	—	—	—
Cash Reconciliation net Change In Cash	$971.1M	—	—	—	—
Cash Reconciliation Cash At Beginning of Period	$1.2B	—	—	—	—
Cash Reconciliation Cash At End of Period	$1.2B	—	—	—	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+59.4%	+56.7%	+55.8%	+56.6%	+57.5%
Operating margin	+32.7%	+28.2%	+26.8%	+28.0%	+28.3%
Net margin	+27.2%	+21.8%	+21.3%	+21.8%	+14.8%
FCF margin	+32.3%	+27.8%	+13.6%	+6.0%	+19.8%
Growth
Revenue CAGR (3y)	+12.9%	+13.6%	+12.6%	+11.1%	+11.0%
Returns
ROE	+23.5%	+21.0%	+21.7%	+23.2%	+16.4%
ROA	+17.1%	+14.9%	+13.3%	+15.3%	+10.0%
ROIC	+25.9%	+24.8%	+21.2%	+25.9%	+27.8%
Liquidity
Current ratio	3.44x	2.59x	3.12x	2.80x	1.73x
Quick ratio	2.11x	1.18x	1.23x	1.23x	1.00x
Leverage
D/E	0.37x	0.41x	0.63x	0.52x	0.64x
Interest coverage	—	—	—	—	37.67x
Efficiency
Asset turnover	0.63x	0.68x	0.63x	0.70x	0.68x
Cash conversion cycle	+180d	+170d	+227d	+196d	+156d

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