FirmAtlas
Company handbook · RMD · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-16
RMD · CIK 943819 · LATEST FILING: 10-K FY26 · FILED AUG 13, 2026
ResMed Inc.
$238.97
−3.26 (−1.35%)
Close, Oct 16, 2026 · 52-week $180–278
Last fiscal year
ResMed Inc. reported revenue of $5.7B for the year ended Jun 30, 2026 (FY26), up 9.9% from FY25. Net income was $1.5B, operating cash flow $1.8B and free cash flow $1.6B. Source: 10-K filed Aug 13, 2026.
Market cap
$34.5B
P/E
22.6
EV/EBITDA
16.1x
P/B
5.2
Div yield
1.03%
ROIC
26.7%
Revenue 1Y
9.9%/yr
EPS 1Y
9.7%/yr
Shares 1Y
−1%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOMichael Farrell
HQSan Diego, CA
AuditorKPMG LLP
Employees11,370
Year endsJune
Revenue by segment · FY26
Devices And Masks88%
Software As Service12%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
14.0%
−1.3%
19.2%
−11.5%
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 · FY25–FY26
$2.4B deployed
Capex
$246M
10.3%
Acquisitions
$490M
20.4%
Dividends
$661M
27.6%
Buybacks
$1.0B
41.7%
Operating cash flow over the period: $3.6B. Total debt changed by −$9M. R&D of $710M is already inside operating costs.
More cash than debt at the end of FY26.
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 · FY26 = year ended Jun 30, 2026 · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
Income
Revenue
5,146
5,653+9.9%
YoY
+9.9%
Gross profit
3,055
3,452+13.0%
Gross margin
59.4%
61.1%+1.7 pp
Operating income
1,685
1,887+11.9%
Operating margin
32.7%
33.4%+0.6 pp
EBITDA
1,884
2,088+10.8%
EBITDA margin
36.6%
36.9%+0.3 pp
Interest expense
28
27−4.8%
Interest coverage
66.30x
77.17x+10.88x
Net income
1,401
1,523+8.8%
YoY
+8.8%
Net margin
27.2%
26.9%−0.3 pp
EPS (diluted, $)
9.51
10.43+9.7%
YoY
+9.7%
Balance sheet
Total assets
8,174
8,966+9.7%
Cash & short-term investments
1,209
1,469+21.5%
Accounts receivable
939
1,036+10.3%
Inventory
928
946+2.0%
Net PP&E
551
582+5.6%
Other assets
4,547
4,933+8.5%
Total liabilities
2,207
2,381+7.9%
Accounts payable
278
309+11.1%
Total debt
668
659−1.3%
Other liabilities
1,260
1,412+12.1%
Shareholders’ equity
5,968
6,585+10.3%
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
1,752
1,806+3.1%
Net income
1,401
1,523+8.8%
Depreciation & amortization
198
201+1.4%
Stock-based compensation
92
104+13.8%
Working capital & other
61
(23)−138.1%
Cash from investing
(200)
(545)n/m
Capex
(90)
(156)n/m
Acquisitions
(139)
(351)n/m
Investments bought
(6)
(29)n/m
Investments sold / matured
5
3−40.5%
Other investing
31
(12)−140.2%
Cash from financing
(606)
(1,007)n/m
Debt raised
0
0n/m
Debt repaid
(40)
(10)n/m
Dividends
(311)
(350)n/m
Buybacks
(300)
(700)n/m
Shares issued
74
75+0.1%
Other financing
(30)
(22)n/m
Net change in cash
971
260−73.2%
Free cash flow (OCF − capex)
1,662
1,650−0.7%
Where the cash went
Operating cash flow
1,752
1,806+3.1%
Reinvested in the business
229
507+121.3%
% of operating cash flow
13.1%
28.1%
Capex
90
156+73.9%
Acquisitions
139
351+151.9%
R&D (memo, already in costs)
331
378+14.2%
Free cash flow
1,662
1,650−0.7%
YoY
−0.7%
Returned to shareholders
611
1,050+71.8%
% of free cash flow
36.8%
63.6%
Dividends
311
350+12.5%
Buybacks
300
700+133.3%
Change in total debt
—
(9)
Cash left over
—
240
FCF conversion (FCF ÷ net income)
118.6%
108.3%−10.3 pp
Owner earnings
—
1,484
Owner earnings margin
—
26.3%
Buyback yield
0.8%
2.5%+1.7 pp
Returns & ratios
ROIC (all capital)
25.9%
26.7%+0.8 pp
ROIC (operating)
65.8%
68.1%+2.4 pp
Net debt / EBITDA
−0.29x
−0.39x−0.10x
Debt / equity
0.11x
0.10x−0.01x
Cash conversion cycle (days)
180
172−8 d
ROE
23.5%
23.1%−0.3 pp
ROA
17.1%
17.0%−0.1 pp
ROCE
23.6%
24.9%+1.4 pp
NOPAT
1,407
1,497+6.4%
Invested capital (operating)
2,140
2,255+5.4%
Invested capital (all)
5,427
5,776+6.4%
Reinvestment rate
—
7.7%
Debtor days
67
67+0 d
Inventory days
162
157−5 d
Days payable
49
51+3 d
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
1,336
1,423
1,431
1,464
vs year-ago quarter
Gross profit
821
879
891
861
Gross margin
61.5%
61.8%
62.2%
58.8%
Operating income
447
492
500
449
Net income
349
393
399
383
vs year-ago quarter
Net margin
26.1%
27.6%
27.9%
26.2%
EPS (diluted, $)
2.37
2.68
2.74
2.66
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
8,308
8,503
8,784
8,966
Cash & equivalents
1,384
1,417
1,661
1,469
Total debt
669
664
664
659
Shareholders’ equity
6,121
6,321
6,492
6,585
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
457
340
554
455
Capex
43
29
34
51
Free cash flow
414
311
520
404
vs year-ago quarter