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: 0.44
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

$42.92

04 Aug
2025

0.040

OPEN

$43.01

0.09%

HIGH

$43.56

1,052,291

LOW

$42.80

TARGET
$48.565

+1.10 change from previous day

 13.2% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
RMD: 1
Title FY26
Forecast		 FY27
Forecast
EPS (cps) 171.2 xxx
DPS (cps) 37.2 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 26.1 xxx
Dividend Yield 0.8% xxx
Div Pay Ratio(%) 21.7% 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: N/A

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

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Amount Invested

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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: 06/11 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx147.4
DPS All xxxxxxxxxxxxxxx32.5
Sales/Revenue xxxxxxxxxxxxxxx7,946.4 M
Book Value Per Share xxxxxxxxxxxxxxx-
Net Operating Cash Flow xxxxxxxxxxxxxxx2,704.6 M
Net Profit Margin xxxxxxxxxxxxxxx27.22 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx26.39 %
Return on Invested Capital xxxxxxxxxxxxxxx22.91 %
Return on Assets xxxxxxxxxxxxxxx19.00 %
Return on Equity xxxxxxxxxxxxxxx26.39 %
Return on Total Capital xxxxxxxxxxxxxxx27.43 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx2,085.8 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

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Return on Total Capital

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Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx62 M
Long Term Debt xxxxxxxxxxxxxxx1,238 M
Total Debt xxxxxxxxxxxxxxx1,300 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx1,846 M
Price To Book Value xxxxxxxxxxxxxxx-

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Long Term Debt

Total Debt

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Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx155.4 M
Capex % of Sales xxxxxxxxxxxxxxx1.96 %
Cost of Goods Sold xxxxxxxxxxxxxxx3,299 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx2,042 M
Research & Development xxxxxxxxxxxxxxx512 M
Investments - Total xxxxxxxxxxxxxxx-

Capex

Capex % of Sales

Cost of Goods Sold

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EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.9

No. Of Recommendations

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

Morgans

xx/xx/xxxx

2

xxxxxxxxxx

$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

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

04/08/2025

1

Overweight

-

-

ResMed's June quarter result beat Morgan Stanley's expectations, with earnings (EBITDA) supported by currency gains and the VirtuOx acquisition. VirtuOx specialises in at-home diagnostics for sleep, respiratory, and cardiac conditions.

Gross margin rose to 60.7%, up 150bps year-on-year and 80bps quarter-on-quarter. Free cash flow rose 25% to US$1.7bn, and installed devices exceeded 30m, doubling since 2021.

For FY26, gross margin is expected to be in the range of 61-63%, ahead of the prior consensus forecast of circa 60.5%.

The analyst continues to see a favourable growth outlook for ResMed, supported by increased uptake in addressable markets, reflecting increased diagnosis and awareness of OSA.

The buy-back program is expected to increase to US$150m per quarter from US $100m.

The broker lifts FY26 and FY27 EPS forecasts by 3% and 2% respectively. The target price is raised to US$298 from US$291. An Overweight rating is retained. Industry View: In-Line.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 37.89 cents and EPS of 166.10 cents.
Morgan Stanley forecasts a full year FY27 dividend of 40.98 cents and EPS of 180.95 cents.

Ord Minnett

xx/xx/xxxx

1

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

Wilsons

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Jarden

22/07/2025

2

Overweight

$40.55

-5.52%

Ahead of its 4Q25 results, Jarden reaffirms an Overweight rating on ResMed with a minimally raised target price of $40.55.

The global sleep apnoea market leader is forecast to post strong top-line momentum, underpinned by a rebound in device sales and double-digit growth in masks.

Margin expansion is expected thanks to manufacturing efficiencies and FX tailwinds. The analysts also flagged the company’s growing direct-to-consumer advertising spend as a long-term driver of market share gains.

Also, reimbursement risks and the potential return of competitive bidding in the US are on the radar.

FORECAST
Jarden forecasts a full year FY26 dividend of 42.56 cents and EPS of 174.14 cents.
Access Extra Coverage Research History >

RMD STOCK CHART

FNArena News on RMD

1
Australian Broker Call *Extra* Edition – Aug 04, 2025

Aug 04 2025 - Daily Market Reports
2
Next Week At A Glance – 4-8 Aug 2025

Aug 01 2025 - Weekly Reports
3
Rudi’s View: Taking Stock Ahead Of August

Jul 30 2025 - Rudi's View
4
ResMed’s New Level Of Support

Jul 29 2025 - Technicals
5
Next Week At A Glance – 28 July-1 Aug 2025

Jul 25 2025 - Weekly Reports

Latest Medical Equipment & Devices News

1
ResMed’s New Level Of Support

Jul 29 2025 - Technicals
2
Strength To ‘AI’ Strength For Pro Medicus

Jul 10 2025 - Australia
3
Cochlear Downgrades Ahead Of New Launches

Jun 19 2025 - Australia
4
Fisher & Paykel Healthcare’s Tariffs Annoyance

Jun 04 2025 - Australia
5
ResMed’s Margin Expansion & Tariff Exemption

Apr 28 2025 - Australia
6
Trend Remains Up For Catapult International

Feb 18 2025 - Technicals
7
ESG Focus: Top ASX Companies, Superbugs & Hydrogen

Feb 07 2025 - ESG Focus
8
ResMed Shakes Off GLP-1 Scare

Feb 04 2025 - Australia
9
ResMed: Another Positive Quarterly Surprise?

Jan 30 2025 - Australia
10
The Trend Remains Pro Medicus’ Friend

Jan 16 2025 - Technicals