RESMED INC (RMD)
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RMD

RMD - RESMED INC

FNArena Sector : Medical Equipment & Devices
Year End: June
GICS Industry Group : Health Care Equipment & Services
Debt/EBITDA: 0.37
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

ResMed is the global market leader in providing devices for the treatment of sleep apnoea and chronic pulmonary disease. Formed in Australia in 1989 the company listed on the ASX in 1999 and is also listed on the NYSE. ResMed's head office is in San Diego, California.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$34.75

06 Nov
2026

0.140

OPEN

$34.48

0.40%

HIGH

$34.75

1,732,715

LOW

$34.28

TARGET
$40.875 17.6% upside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
4DX . AT1 . AVE . AYA . BB1 . BRN . CAT . CBL . CGS . CMP . COH . CSX . CTE . CU6 . CVB . CYC . EBR . EIQ . EMV . EYE . FPH . IME . IMR . IPD . LDX . MX1 . NAN . ONE . PCK . PEB . PGC . PME . RAP . SHG . SLD . SOM . TRJ .
FNARENA'S MARKET CONSENSUS FORECASTS
RMD: 1
Title FY27
Forecast		 FY28
Forecast
EPS (cps) 188.6 xxx
DPS (cps) 41.2 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 18.2 xxx
Dividend Yield 1.2% xxx
Div Pay Ratio(%) 21.9% xxx
This company reports in USD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: 1.51%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.02

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 19/08 - (franking ex-div 6.55c)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx154.5
DPS All xxxxxxxxxxxxxxx35.2
Sales/Revenue xxxxxxxxxxxxxxx8,343.1 M
Book Value Per Share xxxxxxxxxxxxxxx659.0
Net Operating Cash Flow xxxxxxxxxxxxxxx2,664.9 M
Net Profit Margin xxxxxxxxxxxxxxx26.94 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx24.16 %
Return on Invested Capital xxxxxxxxxxxxxxx21.80 %
Return on Assets xxxxxxxxxxxxxxx17.69 %
Return on Equity xxxxxxxxxxxxxxx24.16 %
Return on Total Capital xxxxxxxxxxxxxxx26.89 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx1,918.3 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx417 M
Long Term Debt xxxxxxxxxxxxxxx775 M
Total Debt xxxxxxxxxxxxxxx1,192 M
Goodwill - Gross xxxxxxxxxxxxxxx4,200 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx2,126 M
Price To Book Value xxxxxxxxxxxxxxx4.38

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx261.5 M
Capex % of Sales xxxxxxxxxxxxxxx3.13 %
Cost of Goods Sold xxxxxxxxxxxxxxx3,316 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx2,189 M
Research & Development xxxxxxxxxxxxxxx558 M
Investments - Total xxxxxxxxxxxxxxx227 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.5

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

2

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$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

02/11/2026

3

Equal-weight

-

-

ResMed's 1Q27 revenue was 1% ahead of Morgan Stanley's forecast, with non-GAAP EBIT of US$506m beating expectations by 6% and NPAT by 8%.

Gross margins rose 50bps y/y to 62.5%, benefiting from the delayed timing of supply chain investments, while operating expenses declined -5% q/q, the analyst notes.

ROW sleep device revenue grew 13% in constant currency, supported by a fleet replacement program in France, generating around US$11m–US$13m in revenue. However, the broker expects this benefit to reverse in 2H27.

Free cash flow conversion declined to 89% from 101% in FY26, reflecting higher inventories and tax prepayments. Management retained FY27 revenue guidance despite the earnings beat.

Equal-weight. Target US$233. Industry view: In-line.

FORECAST
Morgan Stanley forecasts a full year FY27 dividend of 35.12 cents and EPS of 173.33 cents.
Morgan Stanley forecasts a full year FY28 dividend of 41.43 cents and EPS of 189.82 cents.

Ord Minnett

xx/xx/xxxx

2

xxxxxxxxx xx xxxxxxxxxx xxxx xxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

-

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Canaccord Genuity

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxx

$xx.xx

xx.xx%

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Jarden

03/11/2026

2

Overweight

$38.70

11.37%

Jarden maintains an Overweight rating for ResMed with its target price increased to $38.70 from $38.50 following a strong 1Q27 result where non-GAAP NPAT beat consensus expectations by 9%.

Jarden highlights that revenue came in 2% ahead of consensus, while gross margin outperformed by 60 basis points.

The underlying business demonstrated robustness, underpinned by 8% growth in US Sleep Devices, and the analyst expects inflationary pressures to be effectively managed through pricing increases and efficiency measures.

Management reiterated its full-year revenue and EPS guidance despite the strong start to the period.
Access Extra Coverage Research History >

RMD STOCK CHART

FNArena News on RMD

1
Weekly Ratings, Targets, Forecast Changes – 06-11-26

10:00 AM - Weekly Reports
2
FNArena Corporate Results Monitor – 06-11-2026

Nov 06 2026 - Australia
3
Next Week At A Glance – 9-13 Nov 2026

Nov 06 2026 - Weekly Reports
4
In Case You Missed It – BC Extra Upgrades & Downgrades – 06-11-26

Nov 06 2026 - Weekly Reports
5
Rudi’s View: Previews To November Results

Nov 05 2026 - Rudi's View

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Jul 07 2026 - Technicals
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10
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Feb 02 2026 - Australia