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

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

33 accounts · 3 years

Total assets $8.2B

Total liabilities $2.2B

Shareholders equity $6.0B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	14.8%	3.5%	3.4%
Accounts Receivable	11.5%	12.2%	10.4%
Inventory	11.3%	—	—
Prepaid Expenses	5.2%	—	—
Other Current Assets	2.0%	—	—
Total Current Assets	42.9%	34.3%	35.1%
Property,Plant and Equipment	6.7%	8.0%	8.0%
Operating Lease Assets	2.0%	2.2%	1.9%
Goodwill	37.3%	41.4%	41.0%
Intangible Assets	5.7%	—	—
Long Term Investments	0.9%	1.0%	1.0%
Other Noncurrent Assets	2.3%	4.1%	3.9%
Total Assets	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	3.4%	3.5%	2.2%
Accrued Liabilities	4.9%	5.5%	5.4%
Deferred Revenue	2.0%	—	—
Current Portion of Long Term Debt	0.1%	—	—
Operating Lease Liabilities	0.4%	—	—
Other Current Liabilities	0.0%	0.5%	0.4%
Total Current Liabilities	12.5%	13.3%	11.2%
Long Term Debt	8.1%	10.1%	21.2%
Deferred Revenue Noncurrent	1.9%	—	—
Operating Lease Liabilities Noncurrent	1.9%	2.1%	1.7%
Other Noncurrent Liabilities	1.7%	0.6%	1.0%
Total Liabilities	27.0%	29.2%	38.8%
Equity
Preferred Stock	0.0%	0.0%	0.0%
Common Stock	0.0%	0.0%	0.0%
Additional Paid In Capital	24.9%	27.6%	26.2%
Retained Earnings	74.4%	—	—
Treasury Stock	25.4%	—	—
Accumulated Other Comprehensive Income	-0.9%	—	—
Total Stockholders Equity	73.0%	70.8%	61.2%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

19 accounts · 3 years

Revenue $5.1B

Operating income $1.7B

Net income $1.4B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	63.0%	—	—
Expenses Cost of Revenue	25.6%	—	—
Expenses Research and Development	4.1%	—	—
Expenses Selling,General and Administrative	12.1%	—	—
Expenses Depreciation and Amortization	2.4%	—	—
Expenses Share Based Compensation	1.1%	—	—
Expenses Restructuring and Asset Impairment	0.0%	—	—
Expenses Operating Expenses	16.8%	—	—
Other Income Expense Gross Profit	37.4%	38.6%	34.9%
Other Income Expense Operating Income	20.6%	—	—
Other Income Expense Other Income/expense	-0.1%	—	—
Other Income Expense Income Before Tax	20.5%	—	—
Income Tax Income Tax Expense	3.4%	—	—
net Income net Income	17.1%	—	—
net Income Comprehensive Income	19.3%	—	—
Earnings Per Share Basic Eps	0.0%	—	—
Earnings Per Share Diluted Eps	0.0%	—	—
Earnings Per Share Weighted Average Shares Basic	1.8%	—	—
Earnings Per Share Weighted Average Shares Diluted	1.8%	—	—

Cash Flow Statement

Operating, investing, and financing flows

23 accounts · 3 years

Operating cash flow $1.8B

Investing cash flow $-200.0M

Financing cash flow $-606.3M

Account	2025	2024	2023
CashFlow
Operating Activities net Income	17.1%	14.9%	13.3%
Operating Activities Depreciation and Amortization	1.4%	1.3%	1.3%
Operating Activities Stock Based Compensation	1.1%	—	—
Operating Activities Deferred Income Taxes	-0.7%	-0.7%	-0.7%
Operating Activities Changes In Operating Assets and Liabilities	0.9%	2.9%	7.8%
Operating Activities net Cash From Operating Activities	21.4%	—	—
Investing Activities Capital Expenditures	1.1%	—	—
Investing Activities Business Acquisitions	1.7%	—	—
Investing Activities Purchases of Investments	0.1%	—	—
Investing Activities Other Investing Activities	-0.5%	0.1%	-0.2%
Investing Activities net Cash From Investing Activities	-2.4%	—	—
Financing Activities Proceeds From Debt	0.0%	—	—
Financing Activities Repayment of Debt	0.5%	—	—
Financing Activities Repurchase of Common Stock	3.7%	—	—
Financing Activities Dividends Paid	3.8%	—	—
Financing Activities Proceeds From Stock Issuance	0.9%	—	—
Financing Activities Tax Withholding On Stock Based Compensation	0.2%	—	—
Financing Activities Other Financing Activities	0.0%	0.0%	0.0%
Financing Activities net Cash From Financing Activities	-7.4%	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	0.3%	—	—
Cash Reconciliation net Change In Cash	11.9%	—	—
Cash Reconciliation Cash At Beginning of Period	14.8%	—	—
Cash Reconciliation Cash At End of Period	14.8%	—	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+59.4%	+56.7%	+55.8%
Operating margin	+32.7%	+28.2%	+26.8%
Net margin	+27.2%	+21.8%	+21.3%
FCF margin	+32.3%	+27.8%	+13.6%
Growth
Revenue CAGR (3y)	+12.9%	+13.6%	+12.6%
Returns
ROE	+23.5%	+21.0%	+21.7%
ROA	+17.1%	+14.9%	+13.3%
ROIC	+25.9%	+24.8%	+21.2%
Liquidity
Current ratio	3.44x	2.59x	3.12x
Quick ratio	2.11x	1.18x	1.23x
Leverage
D/E	0.37x	0.41x	0.63x
Interest coverage	—	—	—
Efficiency
Asset turnover	0.63x	0.68x	0.63x
Cash conversion cycle	+180d	+170d	+227d

Valuation

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FY2025 fundamentals · no price

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