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: 0.54
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

$36.77

20 Feb
2025

0.060

OPEN

$36.73

0.16%

HIGH

$36.86

768,946

LOW

$36.57

TARGET
$43.625 18.6% upside
OTHER COMPANIES IN THE SAME SECTOR
4DX . AT1 . AYA . BB1 . BRN . CAT . CBL . CGS . CMP . COH . CSX . CU6 . CVB . CYC . EBR . EMV . EYE . FPH . IDX . IME . IMR . IPD . LDX . MX1 . NAN . ONE . PCK . PEB . PGC . PME . SOM . TRJ . UBI .
FNARENA'S MARKET CONSENSUS FORECASTS
RMD: 1
Title FY25
Forecast		 FY26
Forecast
EPS (cps) 145.1 xxx
DPS (cps) 33.3 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 25.0 xxx
Dividend Yield 0.9% xxx
Div Pay Ratio(%) 22.9% 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: 0.94%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.83

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: 06/11 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx106.0
DPS All xxxxxxxxxxxxxxx29.6
Sales/Revenue xxxxxxxxxxxxxxx7,150.0 M
Book Value Per Share xxxxxxxxxxxxxxx495.8
Net Operating Cash Flow xxxxxxxxxxxxxxx2,138.4 M
Net Profit Margin xxxxxxxxxxxxxxx21.79 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx23.10 %
Return on Invested Capital xxxxxxxxxxxxxxx18.26 %
Return on Assets xxxxxxxxxxxxxxx15.25 %
Return on Equity xxxxxxxxxxxxxxx23.10 %
Return on Total Capital xxxxxxxxxxxxxxx24.60 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx1,555.8 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx53 M
Long Term Debt xxxxxxxxxxxxxxx1,256 M
Total Debt xxxxxxxxxxxxxxx1,309 M
Goodwill - Gross xxxxxxxxxxxxxxx4,256 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx357 M
Price To Book Value xxxxxxxxxxxxxxx5.87

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx175.3 M
Capex % of Sales xxxxxxxxxxxxxxx2.45 %
Cost of Goods Sold xxxxxxxxxxxxxxx3,169 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,869 M
Research & Development xxxxxxxxxxxxxxx469 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

0.8

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxx

-

xx.xx%

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Ord Minnett

03/02/2025

1

Buy

$44.80

21.84%

Ord Minnett spotted another "impressive" result from ResMed following the 2Q release and raises its target to $44.80 from $43.90 after raising EPS forecasts by 1% across FY25-27. Buy retained.

The broker highlights constant-currency EPS growth of 30% in H1 of FY25, struck off revenue growth of 10%. Higher-than-expected growth in flow generators drove an above-consensus outcome.

Also, a wider gross margin was a strong outcome, suggests the analyst, given negative currency impacts and the product mix (i.e. a higher proportion of lower-margin CPAP devices versus masks and other contributors).

Management maintained the FY25 gross margin guidance. Ord Minnett anticipates an increase in the size of the share buyback program by the end of FY25.

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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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

3

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

3

xxxxxxxxx xx xxxxxx xxxxxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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Goldman Sachs

05/02/2025

1

Buy

$49.00

33.26%

ResMed delivered a strong 2Q25 result with the 12% year-on-year rise in devices sales in the US an indication growing awareness of obstructive sleep apnea is translating to demand for the company's products, Goldman Sachs highlights.

The broker notes ResMed's gross margins improved by 30% sequentially after adjusting for the 2Q25 FX headwind. The analyst forecasts the company's balance sheet to be in net cash by 4Q25.

The broker raised FY25 and FY26 revenue estimates by 1.1% and 1.3% respectively. Target price rises marginally to $49.0 from $48.9. Buy rating maintained.

FORECAST
Goldman Sachs forecasts a full year FY25 dividend of 32.06 cents and EPS of 145.04 cents.
Goldman Sachs forecasts a full year FY26 dividend of 39.70 cents and EPS of 163.36 cents.

Jarden

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Access Extra Coverage Research History >

RMD STOCK CHART

FNArena News on RMD

1
Rudi’s View: Best Ideas & Conviction Calls

Feb 20 2025 - Rudi's View
2
Rudi’s View: More Beats In Early Feb Results

Feb 19 2025 - Rudi's View
3
Rudi Interviewed: Turning Laggards Into Winners

Feb 17 2025 - Rudi's View
4
Rudi’s View: Hope Trumps Uncertainties

Feb 12 2025 - Rudi's View
5
Weekly Ratings, Targets, Forecast Changes – 07-02-25

Feb 10 2025 - Weekly Reports

Latest Medical Equipment & Devices News

1
Trend Remains Up For Catapult International

Feb 18 2025 - Technicals
2
ESG Focus: Top ASX Companies, Superbugs & Hydrogen

Feb 07 2025 - ESG Focus
3
ResMed Shakes Off GLP-1 Scare

Feb 04 2025 - Australia
4
ResMed: Another Positive Quarterly Surprise?

Jan 30 2025 - Australia
5
The Trend Remains Pro Medicus’ Friend

Jan 16 2025 - Technicals
6
Diagnostic Imaging Radiates Opportunity

Dec 18 2024 - Small Caps
7
ResMed’s Bounce-Back Complete

Oct 29 2024 - Australia
8
Dr Boreham’s Crucible: Pro Medicus

Sep 04 2024 - Australia
9
Pro Medicus: Don’t Stop Me Now

Aug 20 2024 - Technicals
10
Dr Boreham’s Crucible: Blinklab

May 20 2024 - Small Caps