ResMed (RMD) financial statements
ResMed reported revenue of $5.7B in fiscal 2026, up 11.8% a year over 9 years.
Net income was $1.5B and the operating margin 33.4%, against 20.6% in 2017.
Free cash flow was $1.6B, and the company returned $350M in dividends and $700M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from ResMed's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.1B | $2.3B | $2.6B | $3.0B | $3.2B | $3.6B | $4.2B | $4.7B | $5.1B | $5.7B |
| Cost of revenue | $865M | $1.0B | $1.1B | $1.2B | $1.4B | $1.6B | $1.9B | $2.0B | $2.1B | $2.2B |
| Gross profit | $1.2B | $1.3B | $1.5B | $1.7B | $1.8B | $2.0B | $2.4B | $2.7B | $3.1B | $3.5B |
| Research and development | $144M | $155M | $181M | $202M | $225M | $254M | $288M | $308M | $331M | $378M |
| Selling, general and admin | $554M | $600M | $645M | $677M | $670M | $738M | $874M | $917M | $993M | $1.1B |
| Operating income | $426M | $542M | $579M | $810M | $904M | $1.0B | $1.1B | $1.3B | $1.7B | $1.9B |
| Interest expense | $28M | $28M | $36M | $40M | $24M | — | — | — | — | — |
| Pre-tax income | $419M | $521M | $519M | $733M | $884M | $960M | $1.1B | $1.3B | $1.7B | $1.9B |
| Income tax | $76M | $206M | $114M | $111M | $409M | $181M | $204M | $244M | $277M | $396M |
| Net income | $342M | $316M | $405M | $622M | $475M | $779M | $898M | $1.0B | $1.4B | $1.5B |
| EPS (diluted) | $2.40 | $2.19 | $2.80 | $4.27 | $3.24 | $5.30 | $6.09 | $6.92 | $9.51 | $10.43 |
| Diluted shares | 142M | 144M | 144M | 146M | 146M | 147M | 147M | 148M | 147M | 146M |
| Gross margin | 58.1% | 57.0% | 57.3% | 58.1% | 57.5% | 56.6% | 55.8% | 56.7% | 59.4% | 61.1% |
| Operating margin | 20.6% | 23.2% | 22.2% | 27.4% | 28.3% | 28.0% | 26.8% | 28.2% | 32.7% | 33.4% |
| Net margin | 16.6% | 13.5% | 15.5% | 21.0% | 14.8% | 21.8% | 21.3% | 21.8% | 27.2% | 26.9% |
Balance sheet
Fiscal years, from ResMed's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $822M | $189M | $147M | $463M | $295M | $274M | $228M | $238M | $1.2B | $1.5B |
| Receivables | $451M | $484M | $528M | $475M | $614M | $576M | $705M | $837M | $939M | $1.0B |
| Inventory | $268M | $269M | $350M | $417M | $457M | $744M | $998M | $822M | $928M | $946M |
| Total current assets | $1.6B | $1.1B | $1.1B | $1.5B | $1.6B | $1.9B | $2.4B | $2.4B | $3.5B | $4.3B |
| Property, plant and equipment | $394M | $387M | $387M | $417M | $463M | $498M | $538M | $548M | $551M | $582M |
| Goodwill | $1.1B | $1.1B | $1.9B | $1.9B | $1.9B | $1.9B | $2.8B | $2.8B | $3.0B | $2.9B |
| Total assets | $3.5B | $3.1B | $4.1B | $4.6B | $4.7B | $5.1B | $6.8B | $6.9B | $8.2B | $9.0B |
| Total current liabilities | $360M | $511M | $556M | $603M | $912M | $689M | $759M | $911M | $1.0B | $1.4B |
| Long-term debt | $1.1B | — | — | — | — | — | — | — | — | — |
| Total liabilities | $1.5B | $1.0B | $2.0B | $2.1B | $1.8B | $1.7B | $2.6B | $2.0B | $2.2B | $2.4B |
| Shareholders' equity | $2.0B | $2.1B | $2.1B | $2.5B | $2.9B | $3.4B | $4.1B | $4.9B | $6.0B | $6.6B |
| Net debt | $257M | -$189M | -$147M | -$463M | -$295M | -$274M | -$228M | -$238M | -$1.2B | -$1.5B |
Cash flow
Fiscal years, from ResMed's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $414M | $505M | $459M | $802M | $737M | $351M | $693M | $1.4B | $1.8B | $1.8B |
| Capital spending | $62M | $63M | $69M | $95M | $103M | $135M | $120M | $99M | $90M | $156M |
| Free cash flow | $352M | $442M | $390M | $707M | $634M | $216M | $574M | $1.3B | $1.7B | $1.6B |
| Stock-based compensation | $46M | $48M | $52M | $58M | $64M | $65M | $71M | $80M | $92M | $104M |
| Dividends paid | $186M | $199M | $212M | $225M | $227M | $245M | $258M | $282M | $311M | $350M |
| Share buybacks (net) | — | -$54M | -$23M | — | — | $0 | $0 | -$150M | -$300M | -$700M |
| Net borrowing | -$95M | -$796M | $807M | -$94M | -$522M | $122M | $665M | -$730M | -$40M | -$10M |
| Free cash flow margin | 17.0% | 18.9% | 15.0% | 23.9% | 19.8% | 6.0% | 13.6% | 27.8% | 32.3% | 29.2% |
| Dividends per share | $1.31 | $1.39 | $1.47 | $1.55 | $1.55 | $1.67 | $1.75 | $1.91 | $2.11 | $2.39 |
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What was ResMed's revenue in 2026?
$5.7B in fiscal 2026, from its 10-K filing.
How much free cash flow does ResMed generate?
$1.6B in fiscal 2026 (operating cash flow minus capital spending).
From ResMed's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.