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OSI Systems, Inc. (OSIS)

NASDAQ / Technology / Hardware, Equipment & Parts

Share price

192.68 USD Market dataClose of Oct 14, 2026

Market capitalisation

3.18B USD Market dataClose of Oct 14, 2026
Market data
Oct 14, 2026
Filed accounts
FY2026, filed Aug 21, 2026
Ratios computed
Oct 14, 2026
Filed years
16, FY2010 to FY2026
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on invested capital, after tax

11.5% Computed

From the FY2026 filing

Read quality

Valuation

Price to earnings

20.65x Computed

FY2026 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

7.4% Computed

FY2026 accounts, priced at the latest close

Read cash generation

Revenue and net income, as filed

FY2017 Revenue: 961.0M USDFY2017 Net income: 21.1M USDFY2018 Revenue: 1.09B USDFY2018 Net income: -29.1M USDFY2019 Revenue: 1.18B USDFY2019 Net income: 64.8M USDFY2020 Revenue: 1.17B USDFY2020 Net income: 75.3M USDFY2021 Revenue: 1.15B USDFY2021 Net income: 74.0M USDFY2022 Revenue: 1.18B USDFY2022 Net income: 115.3M USDFY2023 Revenue: 1.28B USDFY2023 Net income: 91.8M USDFY2024 Revenue: 1.54B USDFY2024 Net income: 128.2M USDFY2025 Revenue: 1.71B USDFY2025 Net income: 149.6M USDFY2026 Revenue: 1.79B USDFY2026 Net income: 154.7M USD
Revenue Net income10 filed fiscal years, from the annual reports; the table in Filings names each document.
Named tests met
2 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 20.65x at the close of 2026-10-14 on FY2026 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits between 15.00x and 25.00x.

Today, against the Hardware, Equipment & Parts industry (47 companies), 20.65x sits at the 15th percentile; the middle half of that group runs from 27.88x to 73.81x.

Is it good

Return on invested capital was 11.5% in FY2026, in the band labelled "Around the cost of capital" (8.0% to 12.0%), on lines anchored on Damodaran's cost-of-capital data.

Today, against the Technology sector (197 companies), 11.5% sits at the 60th percentile; the middle half of that group runs from 1.2% to 17.1%.

Is it safe

Interest coverage was 8.35x in FY2026, in the band labelled "Comfortable" (6.00x and above), on lines anchored on Damodaran's interest-coverage table, suggesting an interest bill operating profit covers many times over.

Year by year against peers
Whether OSI Systems, Inc.'s return on invested capital stayed above the median of the Technology sector, year by year. (FY2022 to FY2025, 4 fiscal years of OSI Systems, Inc. with a comparable figure)
The direction
Which way OSI Systems, Inc.'s return on equity has moved, and how steadily. (FY2017 to FY2026, 10 filed years of OSI Systems, Inc.)
What could explain it
What in OSI Systems, Inc.'s filed statements could explain the movements. (10 readings drawn from the statement lines OSI Systems, Inc. filed)
What to check next
What to check next on OSI Systems, Inc., and where in its filings. (2 questions for OSI Systems, Inc.)
In one paragraph
One paragraph on OSI Systems, Inc.'s returns, cash, balance sheet and price. (15 of sixteen figures read for OSI Systems, Inc.)

These are OSIS’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research OSISPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2026 annual report: 10-K, filed Aug 21, 2026, accession 0001104659-26-099752.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

OSI Systems, Inc: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax11.5% ComputedFY2026 10-K, filed Aug 21, 2026, 0001104659-26-099752
Return on equity18.6% ComputedFY2026 10-K, filed Aug 21, 2026, 0001104659-26-099752
Return on capital employed, pre-tax11.0% ComputedFY2026 10-K, filed Aug 21, 2026, 0001104659-26-099752
Return on assets6.2% ComputedFY2026 10-K, filed Aug 21, 2026, 0001104659-26-099752
Gross margin33.2% ComputedFY2026 10-K, filed Aug 21, 2026, 0001104659-26-099752
Operating margin12.3% ComputedFY2026 10-K, filed Aug 21, 2026, 0001104659-26-099752
Net margin8.7% ComputedFY2026 10-K, filed Aug 21, 2026, 0001104659-26-099752
OSIS 8.7%
BELFB 9.1%PENG 1.9%BMI 15.4%ITRI 12.7%BHE 0.9%
0.9%15.4%
Net margin: OSIS against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

OSI Systems, Inc: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity1.26 ComputedFY2026 10-K, filed Aug 21, 2026, 0001104659-26-099752
Current ratio3.15 ComputedFY2026 10-K, filed Aug 21, 2026, 0001104659-26-099752
Quick ratio2.34 ComputedFY2026 10-K, filed Aug 21, 2026, 0001104659-26-099752
Interest coverage8.35x ComputedFY2026 10-K, filed Aug 21, 2026, 0001104659-26-099752
Altman Z-score3.20 ComputedClose of Oct 14, 2026 · FY2026 10-K, filed Aug 21, 2026, 0001104659-26-099752
Net debt690.0M ComputedFY2026 10-K, filed Aug 21, 2026, 0001104659-26-099752
Total assets 2.50BTotal liabilities 1.67BShareholders' equity 833.0MOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What OSI Systems, Inc owned and owed at the end of fiscal 2026, from the balance sheet it filed (10-K, filed Aug 21, 2026, 0001104659-26-099752).

OSI Systems, Inc: balance sheet position
Total assets2.50B FiledFY2026 10-K, filed Aug 21, 2026
Total liabilities1.67B FiledFY2026 10-K, filed Aug 21, 2026
Shareholders' equity833.0M FiledFY2026 10-K, filed Aug 21, 2026
Cash359.8M FiledFY2026 10-K, filed Aug 21, 2026
Total debt1.05B FiledFY2026 10-K, filed Aug 21, 2026
Net debt690.0M
Current ratio3.15
Debt to equity1.26

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

OSI Systems, Inc: what the market charges, each with its source
FigureValue, source and document
Price to earnings20.65x ComputedClose of Oct 14, 2026 · FY2026 10-K, filed Aug 21, 2026, 0001104659-26-099752
P/E on trailing twelve months21.82x ComputedClose of Oct 14, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book4.00x ComputedClose of Oct 14, 2026 · FY2026 10-K, filed Aug 21, 2026, 0001104659-26-099752
Price to sales1.86x ComputedClose of Oct 14, 2026 · FY2026 10-K, filed Aug 21, 2026, 0001104659-26-099752
Enterprise value to EBIT18.36x ComputedClose of Oct 14, 2026 · FY2026 10-K, filed Aug 21, 2026, 0001104659-26-099752
Enterprise value to EBITDA15.36x ComputedClose of Oct 14, 2026 · FY2026 10-K, filed Aug 21, 2026, 0001104659-26-099752
Price to earnings over growth1.16 ComputedClose of Oct 14, 2026 · FY2026 10-K, filed Aug 21, 2026, 0001104659-26-099752
Diluted earnings per share8.95 USD FiledFY2026 10-K, filed Aug 21, 2026, 0001104659-26-099752
Graham number100.59 USD ComputedFY2026 10-K, filed Aug 21, 2026, 0001104659-26-099752

We publish no fair value or price target of our own. Value OSIS on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for OSI Systems, Inc today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

OSI Systems, Inc: valuation
Share price192.68 USD
Market capitalisation3.18B USD
Enterprise value to EBITDA15.36x
Graham number100.59 USD
Diluted earnings per share, FY20268.95 USD

Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Aug 13, 2021: low 12.58x, median 23.40x, high 35.03x, latest 21.82x. 1,296 trading days with a meaningful ratio. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.

Companies like OSI Systems, Inc

  1. Bel Fuse Inc. (BELFB)Market cap 2.71B USD
  2. Penguin Solutions, Inc. (PENG)Market cap 3.46B USD
  3. Badger Meter, Inc. (BMI)Market cap 3.72B USD
  4. Itron, Inc. (ITRI)Market cap 3.70B USD
  5. Benchmark Electronics, Inc. (BHE)Market cap 2.67B USD

Same industry (Hardware, Equipment & Parts) and size band (Mid, 2B to 10B), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

OSI Systems, Inc: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield7.4% ComputedClose of Oct 14, 2026 · FY2026 10-K, filed Aug 21, 2026, 0001104659-26-099752
Free cash flow245.3M USD ComputedFY2026 10-K, filed Aug 21, 2026, 0001104659-26-099752
Free cash flow margin13.7% ComputedFY2026 10-K, filed Aug 21, 2026, 0001104659-26-099752
Dividend yield
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 14, 2026 · FY2026 10-K, filed Aug 21, 2026, 0001104659-26-099752
Payout ratio
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2026 10-K, filed Aug 21, 2026, 0001104659-26-099752
FY2017 Free cash flow: 45.7M USDFY2017 Net income: 21.1M USDFY2018 Free cash flow: 89.9M USDFY2018 Net income: -29.1M USDFY2019 Free cash flow: 91.7M USDFY2019 Net income: 64.8M USDFY2020 Free cash flow: 108.1M USDFY2020 Net income: 75.3M USDFY2021 Free cash flow: 122.2M USDFY2021 Net income: 74.0M USDFY2022 Free cash flow: 48.9M USDFY2022 Net income: 115.3M USDFY2023 Free cash flow: 79.0M USDFY2023 Net income: 91.8M USDFY2024 Free cash flow: -109.6M USDFY2024 Net income: 128.2M USDFY2025 Free cash flow: 73.8M USDFY2025 Net income: 149.6M USDFY2026 Free cash flow: 245.3M USDFY2026 Net income: 154.7M USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

OSI Systems, Inc.: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
20.65xFY2026Oct 14, 2026
4.00xFY2026Oct 14, 2026
18.36xFY2026Oct 14, 2026
7.4%FY2026Oct 14, 2026
11.5%FY2026Aug 21, 2026
n/aFY2026Oct 14, 2026
n/a The filed cash flow statement reports no dividend paid at all. That is not the same as a filed zero, and we will not read it as one.
1.26FY2026Aug 21, 2026
3.15FY2026Aug 21, 2026
1.86xFY2026Oct 14, 2026
1.16FY2026Oct 14, 2026
3.20FY2026Oct 14, 2026
-2.43FY2026Aug 21, 2026
4/9FY2026Aug 21, 2026

The figures are computed from the accounts for fiscal 2026, the newest full year on file. 16 filed fiscal years on record, FY2010 to FY2026, from SEC EDGAR. Prices as of Oct 14, 2026. Ratios recomputed Oct 14, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 filed fiscal years, FY2017 to FY2026, read from the annual reports OSI Systems, Inc filed with the SEC. Each year names its filing. Amounts in USD, as filed.

OSI Systems, Inc: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY20261.79B219.0M154.7M8.95245.3M12.3%18.6%10-K, Aug 21, 20260001104659-26-099752
FY20251.71B217.5M149.6M8.7173.8M12.7%15.7%10-K, Aug 25, 20250001410578-25-001887
FY20241.54B189.1M128.2M7.38-109.6M12.3%14.8%10-K, Aug 29, 20240001410578-24-001571
FY20231.28B135.3M91.8M5.3479.0M10.6%12.6%10-K, Aug 29, 20230001104659-23-096477
FY20221.18B121.7M115.3M6.4548.9M10.3%18.1%10-K, Aug 19, 20220001104659-22-092999
FY20211.15B115.4M74.0M4.03122.2M10.1%11.6%10-K, Aug 23, 20210001104659-21-108619
FY20201.17B104.9M75.3M4.05108.1M9.0%13.2%10-K, Aug 21, 20200001104659-20-097650
FY20191.18B107.8M64.8M3.4691.7M9.1%11.7%10-K, Aug 27, 20190001047469-19-004853
FY20181.09B55.9M-29.1M-1.5789.9M5.1%-6.0%10-K, Aug 28, 20180001047469-18-005819
FY2017961.0M33.3M21.1M1.0745.7M3.5%3.7%10-K, Sep 7, 20170001047469-17-005596
  • Revenue, compound annual growth FY2017 to FY2026: 7.1%
  • Earnings, compound annual growth FY2017 to FY2026: 24.8%
  • Earnings per share, compound annual growth FY2017 to FY2026: 26.6%
  • Free cash flow, compound annual growth FY2017 to FY2026: 20.5%

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

OSI Systems, Inc: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-2.43 ComputedFY2026 10-K, filed Aug 21, 2026, 0001104659-26-099752
Piotroski F-score4/9 ComputedFY2026 10-K, filed Aug 21, 2026, 0001104659-26-099752
Named tests met2 of 30 Computed
Beta1.50 ComputedClose of Oct 14, 2026

The named tests

Of 30 tests value investors published: 2 met, 27 not met, 1 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
ROIC at or above WACC; Cash-flow yield and ROIC
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Three forensic scores; Low PEG, low debt (Peter Lynch); High returns and growth; Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; High yield, low payout; Dividends and buybacks; Low beta, profitable; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); P/E times P/B (Benjamin Graham); High returns, low debt; Owner earnings yield; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Clean books, high ROIC; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)
Not measured
Cash-covered dividend. A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(4)
  • Dividend Yield: We do not hold this figure for this company, so there is nothing to show.
  • Payout Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Coverage Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Streak: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by the founder: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • 4 figures could not be read on this company, among them Dividend Yield, Payout Ratio, Dividend Coverage Ratio. Each blank in the table above names the rest, with its reason. 1 named test comes back incomplete because of them, which is neither met nor missed.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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Risk disclaimer. This service is provided for research and education only. Nothing on it is investment advice, a recommendation, or an offer to buy or sell any security. Capital is at risk, and past performance does not indicate future results. Figures come from filed accounts and may be incomplete, delayed or later restated, so verify a number against the filing before you act on it.