FirmAtlas
Company handbook · PODD · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
PODD · CIK 1145197 · LATEST FILING: 10-Q JUN '26 · FILED AUG 5, 2026
INSULET CORPORATION
$141.10
+2.33 (+1.68%)
Close, Oct 16, 2026 · 52-week $126–355
Last fiscal year
INSULET CORPORATION reported revenue of $2.7B for the year ended Dec 31, 2025 (FY25), up 30.7% from FY24. Net income was $247M, operating cash flow $569M and free cash flow $378M. Source: 10-K filed Feb 18, 2026.
Market cap
$9.9B
P/E
26.5
EV/EBITDA
18.0x
P/B
7.0
ROIC
21.0%
Revenue 1Y
30.7%/yr
EPS 1Y
−39.8%/yr
Shares 1Y
+0.3%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOAshley McEvoy
HQActon, MA
AuditorGrant Thornton LLP
Employees5,400
Year endsDecember
Revenue by segment · FY25
U.S.Omnipod71%
International Omnipod28%
Drug Delivery1%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
13.8%
−14.0%
1.3%
−55.4%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$376M deployed
Capex
$316M
84.2%
Buybacks
$60M
15.8%
Operating cash flow over the period: $1,000M. Total debt changed by −$365M. R&D of $521M is already inside operating costs.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
2,072
2,708+30.7%
3,053
YoY
+30.7%
Gross profit
1,446
1,940+34.2%
2,170
Gross margin
69.8%
71.6%+1.8 pp
—
Operating income
309
474+53.4%
516
Operating margin
14.9%
17.5%+2.6 pp
—
EBITDA
390
564+44.8%
—
EBITDA margin
18.8%
20.8%+2.0 pp
—
Interest expense
43
59+39.1%
—
Interest coverage
9.13x
9.50x+0.37x
—
Net income
418
247−40.9%
375
YoY
−40.9%
Net margin
20.2%
9.1%−11.1 pp
—
EPS (diluted, $)
5.78
3.48−39.8%
5.35
YoY
−39.8%
Balance sheet
Total assets
3,088
3,190+3.3%
3,165
Cash & short-term investments
953
716−24.9%
—
Inventory
430
453+5.2%
—
Net PP&E
723
820+13.3%
—
Other assets
981
1,202+22.6%
—
Total liabilities
1,876
1,675−10.7%
1,743
Accounts payable
20
75+278.8%
—
Total debt
1,296
931−28.2%
930
Other liabilities
560
669+19.5%
—
Shareholders’ equity
1,212
1,515+25.1%
1,422
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
430
569+32.3%
511
Net income
418
247−40.9%
—
Depreciation & amortization
81
90+11.9%
—
Stock-based compensation
69
63−9.5%
—
Working capital & other
(138)
169n/m
—
Cash from investing
(146)
(223)n/m
—
Capex
(125)
(192)n/m
—
Acquisitions
0
—
—
Investments bought
(12)
0n/m
—
Other investing
(9)
(31)n/m
—
Cash from financing
(28)
(595)n/m
—
Debt raised
0
441n/m
—
Buybacks
0
(60)n/m
—
Shares issued
8
19+131.7%
—
Other financing
(36)
(995)n/m
—
Net change in cash
249
(237)−195.2%
—
Free cash flow (OCF − capex)
305
378+23.7%
294
Where the cash went
Operating cash flow
430
569+32.3%
511
Reinvested in the business
125
192+53.4%
—
% of operating cash flow
29.0%
33.7%
Capex
125
192+53.4%
218
Acquisitions
0
—
—
R&D (memo, already in costs)
220
301+37.1%
—
Free cash flow
305
378+23.7%
294
YoY
+23.7%
Returned to shareholders
0
60n/m
—
% of free cash flow
0.0%
15.8%
Buybacks
0
60n/m
—
Change in total debt
—
(365)
—
Cash left over
—
(47)
—
FCF conversion (FCF ÷ net income)
73.0%
152.9%+79.9 pp
—
Owner earnings
—
179
—
Owner earnings margin
—
6.6%
—
Returns & ratios
ROIC (all capital)
19.9%
21.0%+1.1 pp
—
ROIC (operating)
27.2%
29.6%+2.3 pp
—
Net debt / EBITDA
0.88x
0.38x−0.50x
—
Debt / equity
1.07x
0.61x−0.46x
—
ROE
34.5%
16.3%−18.2 pp
—
ROA
13.5%
7.7%−5.8 pp
—
ROCE
12.1%
18.9%+6.8 pp
—
NOPAT
309
345+11.6%
—
Invested capital (operating)
1,134
1,197+5.6%
—
Invested capital (all)
1,554
1,730+11.3%
—
Reinvestment rate
—
18.4%
—
Inventory days
251
215−36 d
—
Days payable
12
36+24 d
—
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
706
784
762
802
vs year-ago quarter
Gross profit
510
569
529
563
Gross margin
72.2%
72.6%
69.5%
70.2%
Operating income
118
146
122
130
Net income
88
102
91
95
vs year-ago quarter
Net margin
12.4%
13.0%
12.0%
11.8%
EPS (diluted, $)
1.24
1.44
1.30
1.37
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
3,029
3,190
2,987
3,165
Cash & equivalents
757
716
480
535
Total debt
935
931
930
930
Shareholders’ equity
1,384
1,515
1,303
1,422
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
126
183
114
88
Capex
26
135
24
32
Free cash flow
100
48
90
56
vs year-ago quarter