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ValueScreener company report

Share price

242.23 USD Market dataClose of Oct 15, 2026

Market capitalisation

34.07B USD Market dataClose of Oct 15, 2026
Market data
Oct 15, 2026
Filed accounts
FY2026, filed Aug 13, 2026
Ratios computed
Oct 15, 2026
Filed years
11, FY2016 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

25.2% Computed

From the FY2026 filing

Read quality

Valuation

Price to earnings

23.14x Computed

FY2026 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

4.7% Computed

FY2026 accounts, priced at the latest close

Read cash generation

Revenue and net income, as filed

FY2017 Revenue: 2.07B USDFY2017 Net income: 342.3M USDFY2018 Revenue: 2.34B USDFY2018 Net income: 315.6M USDFY2019 Revenue: 2.61B USDFY2019 Net income: 404.6M USDFY2020 Revenue: 2.96B USDFY2020 Net income: 621.7M USDFY2021 Revenue: 3.20B USDFY2021 Net income: 474.5M USDFY2022 Revenue: 3.58B USDFY2022 Net income: 779.4M USDFY2023 Revenue: 4.22B USDFY2023 Net income: 897.6M USDFY2024 Revenue: 4.69B USDFY2024 Net income: 1.02B USDFY2025 Revenue: 5.15B USDFY2025 Net income: 1.40B USDFY2026 Revenue: 5.65B USDFY2026 Net income: 1.52B USD
Revenue Net income10 filed fiscal years, from the annual reports; the table in Filings names each document.
Named tests met
8 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 23.14x at the close of 2026-10-15 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 Healthcare sector (223 companies), 23.14x sits at the 46th percentile; the middle half of that group runs from 13.52x to 42.98x.

Is it good

Return on invested capital was 25.2% in FY2026, in the band labelled "Exceptional" (20.0% and above), on lines anchored on Damodaran's cost-of-capital data, suggesting returns on the capital in the business well above the usual cost of that capital.

Today, against the Healthcare sector (233 companies), 25.2% sits at the 90th percentile; the middle half of that group runs from -37.4% to 12.8%.

Is it safe

ResMed Inc. held more cash than debt at the end of FY2026 (net cash of 643.3m USD), so net debt to EBITDA is a net cash position rather than a leverage reading.

No peer distribution is published for net debt to EBITDA today; the year-by-year comparison uses the filed annual figures.

Year by year against peers
Whether ResMed Inc.'s return on invested capital stayed above the median of the Healthcare sector, year by year. (FY2017 to FY2025, 9 fiscal years of ResMed Inc. with a comparable figure)
The direction
Which way ResMed Inc.'s return on invested capital has moved, and how steadily. (FY2017 to FY2026, 10 filed years of ResMed Inc.)
What could explain it
What in ResMed Inc.'s filed statements could explain the movements. (8 readings drawn from the statement lines ResMed Inc. filed)
What to check next
What to check next on ResMed Inc., and where in its filings. (2 questions for ResMed Inc.)
In one paragraph
One paragraph on ResMed Inc.'s returns, cash, balance sheet and price. (15 of sixteen figures read for ResMed Inc.)

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

Research RMDPart 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 13, 2026, accession 0000943819-26-000047.

3 of 10

Quality

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

SEC filingComputed

ResMed Inc: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax25.2% ComputedFY2026 10-K, filed Aug 13, 2026, 0000943819-26-000047
Return on equity23.1% ComputedFY2026 10-K, filed Aug 13, 2026, 0000943819-26-000047
Return on capital employed, pre-tax24.9% ComputedFY2026 10-K, filed Aug 13, 2026, 0000943819-26-000047
Return on assets17.0% ComputedFY2026 10-K, filed Aug 13, 2026, 0000943819-26-000047
Gross margin61.1% ComputedFY2026 10-K, filed Aug 13, 2026, 0000943819-26-000047
Operating margin33.4% ComputedFY2026 10-K, filed Aug 13, 2026, 0000943819-26-000047
Net margin26.9% ComputedFY2026 10-K, filed Aug 13, 2026, 0000943819-26-000047
RMD 26.9%
ISRG 28.4%WST 16.1%ALC 9.4%MDLN 4.1%BDX 7.7%
4.1%28.4%
Net margin: RMD 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

ResMed Inc: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity0.13 ComputedFY2026 10-K, filed Aug 13, 2026, 0000943819-26-000047
Current ratio3.10 ComputedFY2026 10-K, filed Aug 13, 2026, 0000943819-26-000047
Quick ratio2.42 ComputedFY2026 10-K, filed Aug 13, 2026, 0000943819-26-000047
Interest coverage
Why n/a

No interest expense is filed for this year, so coverage is not computed.

n/a ComputedFY2026 10-K, filed Aug 13, 2026, 0000943819-26-000047
Altman Z-score11.77 ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 13, 2026, 0000943819-26-000047
Net debt-643.3M ComputedFY2026 10-K, filed Aug 13, 2026, 0000943819-26-000047
Total assets 8.97BTotal liabilities 2.38BShareholders' equity 6.59BOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What ResMed Inc owned and owed at the end of fiscal 2026, from the balance sheet it filed (10-K, filed Aug 13, 2026, 0000943819-26-000047).

ResMed Inc: balance sheet position
Total assets8.97B FiledFY2026 10-K, filed Aug 13, 2026
Total liabilities2.38B FiledFY2026 10-K, filed Aug 13, 2026
Shareholders' equity6.59B FiledFY2026 10-K, filed Aug 13, 2026
Cash1.47B FiledFY2026 10-K, filed Aug 13, 2026
Total debt825.9M FiledFY2026 10-K, filed Aug 13, 2026
Net debt-643.3M
Current ratio3.10
Debt to equity0.13
  • Interest cover: FY2026: No interest expense is filed for this year, so coverage is not computed.

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

ResMed Inc: what the market charges, each with its source
FigureValue, source and document
Price to earnings23.14x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 13, 2026, 0000943819-26-000047
P/E on trailing twelve months22.49x ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book5.37x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 13, 2026, 0000943819-26-000047
Price to sales6.26x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 13, 2026, 0000943819-26-000047
Enterprise value to EBIT18.41x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 13, 2026, 0000943819-26-000047
Enterprise value to EBITDA16.64x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 13, 2026, 0000943819-26-000047
Price to earnings over growth0.88 ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 13, 2026, 0000943819-26-000047
Diluted earnings per share10.43 USD FiledFY2026 10-K, filed Aug 13, 2026, 0000943819-26-000047
Graham number103.06 USD ComputedFY2026 10-K, filed Aug 13, 2026, 0000943819-26-000047

We publish no fair value or price target of our own. Value RMD 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 ResMed Inc today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

ResMed Inc: valuation
Share price242.23 USD
Market capitalisation34.07B USD
Enterprise value to EBITDA16.64x
Graham number103.06 USD
Diluted earnings per share, FY202610.43 USD

Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Aug 4, 2017: low 17.63x, median 39.17x, high 91.78x, latest 22.49x. 2,309 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 ResMed Inc

  1. Intuitive Surgical, Inc. (ISRG)Market cap 151.20B USD
  2. West Pharmaceutical Services, Inc. (WST)Market cap 26.96B USD
  3. Alcon Inc. (ALC)Market cap 32.18B USD
  4. Medline Inc. (MDLN)Market cap 32.08B USD
  5. Becton, Dickinson and Company (BDX)Market cap 52.78B USD

Same industry (Medical - Instruments & Supplies) and size band (Large, 10B to 200B), 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

ResMed Inc: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield4.7% ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 13, 2026, 0000943819-26-000047
Free cash flow1.65B USD ComputedFY2026 10-K, filed Aug 13, 2026, 0000943819-26-000047
Free cash flow margin29.2% ComputedFY2026 10-K, filed Aug 13, 2026, 0000943819-26-000047
Dividend yield1.0% ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 13, 2026, 0000943819-26-000047
Payout ratio22.9% ComputedFY2026 10-K, filed Aug 13, 2026, 0000943819-26-000047
FY2017 Free cash flow: 351.8M USDFY2017 Net income: 342.3M USDFY2018 Free cash flow: 442.4M USDFY2018 Net income: 315.6M USDFY2019 Free cash flow: 390.3M USDFY2019 Net income: 404.6M USDFY2020 Free cash flow: 706.9M USDFY2020 Net income: 621.7M USDFY2021 Free cash flow: 634.0M USDFY2021 Net income: 474.5M USDFY2022 Free cash flow: 216.3M USDFY2022 Net income: 779.4M USDFY2023 Free cash flow: 573.6M USDFY2023 Net income: 897.6M USDFY2024 Free cash flow: 1.30B USDFY2024 Net income: 1.02B USDFY2025 Free cash flow: 1.66B USDFY2025 Net income: 1.40B USDFY2026 Free cash flow: 1.65B USDFY2026 Net income: 1.52B 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.

ResMed Inc.: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
23.14xFY2026Oct 15, 2026
5.37xFY2026Oct 15, 2026
18.41xFY2026Oct 15, 2026
4.7%FY2026Oct 15, 2026
25.2%FY2026Aug 13, 2026
1.0%FY2026Oct 15, 2026
0.13FY2026Aug 13, 2026
3.10FY2026Aug 13, 2026
6.26xFY2026Oct 15, 2026
0.88FY2026Oct 15, 2026
11.77FY2026Oct 15, 2026
-2.45FY2026Aug 13, 2026
7/9FY2026Aug 13, 2026

The figures are computed from the accounts for fiscal 2026, the newest full year on file. 11 filed fiscal years on record, FY2016 to FY2026, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 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 ResMed Inc filed with the SEC. Each year names its filing. Amounts in USD, as filed.

ResMed 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
FY20265.65B1.89B1.52B10.431.65B33.4%23.1%10-K, Aug 13, 20260000943819-26-000047
FY20255.15B1.69B1.40B9.511.66B32.8%23.5%10-K, Aug 8, 20250000943819-25-000035
FY20244.69B1.32B1.02B6.921.30B28.2%21.0%10-K, Aug 9, 20240000943819-24-000013
FY20234.22B1.13B897.6M6.09573.6M26.8%21.7%10-K, Aug 11, 20230000943819-23-000011
FY20223.58B1.00B779.4M5.30216.3M28.0%23.2%10-K, Aug 12, 20220000943819-22-000010
FY20213.20B903.7M474.5M3.24634.0M28.3%16.4%10-K, Aug 17, 20210000943819-21-000017
FY20202.96B809.7M621.7M4.27706.9M27.4%24.9%10-K, Aug 13, 20200000943819-20-000013
FY20192.61B579.3M404.6M2.80390.3M22.2%19.5%10-K, Aug 8, 20190000943819-19-000017
FY20182.34B541.8M315.6M2.19442.4M23.1%15.3%10-K, Aug 17, 20180000943819-18-000013
FY20172.07B425.8M342.3M2.40351.8M20.6%17.5%10-K, Aug 4, 20170001193125-17-248016
  • Revenue, compound annual growth FY2017 to FY2026: 11.8%
  • Earnings, compound annual growth FY2017 to FY2026: 18.0%
  • Earnings per share, compound annual growth FY2017 to FY2026: 17.7%
  • Free cash flow, compound annual growth FY2017 to FY2026: 18.7%

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

ResMed Inc: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-2.45 ComputedFY2026 10-K, filed Aug 13, 2026, 0000943819-26-000047
Piotroski F-score7/9 ComputedFY2026 10-K, filed Aug 13, 2026, 0000943819-26-000047
Named tests met8 of 30 Computed
Beta0.63 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 8 met, 21 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
Low PEG, low debt (Peter Lynch); High returns and growth; Low beta, profitable; ROIC at or above WACC; High returns, low debt; High return on tangibles; Cash-covered dividend; Clean books, high 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; Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; High yield, low payout; Dividends and buybacks; Near the 52-week low; Two thirds of NCAV (Benjamin Graham); P/E times P/B (Benjamin Graham); Owner earnings yield; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Cash-flow yield and ROIC; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)
Not measured
Z-score and coverage (Edward Altman). A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(1)
  • Interest Coverage: No interest expense is filed for this year, so coverage is not computed.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by Javier Sanz Alvarez: 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

  • One figure could not be read on this company: Interest Coverage. 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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Analyze your own portfolio

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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ValueScreener is a trading name of Oliva Real Estate Technologies LLC, a Delaware limited liability company. Legal notices: legal@valuescreener.ai. © 2026 Oliva Real Estate Technologies LLC. All rights reserved.

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.