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

$40.68

15 Sep
2025

-0.570

OPEN

$40.91

-1.38%

HIGH

$40.94

721,624

LOW

$40.58

TARGET
$48.565 19.4% 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 . IME . IMR . IPD . LDX . MX1 . NAN . ONE . PCK . PEB . PGC . PME . SOM . TRJ . UBI .
FNARENA'S MARKET CONSENSUS FORECASTS
RMD: 1
Title FY26
Forecast		 FY27
Forecast
EPS (cps) 172.4 xxx
DPS (cps) 37.5 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 23.7 xxx
Dividend Yield 0.9% xxx
Div Pay Ratio(%) 21.8% 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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Estimated Dividend Growth
(Average Of Past Three Years)

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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 xxxxxxxxxxxxxxx622.1
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

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx62 M
Long Term Debt xxxxxxxxxxxxxxx1,238 M
Total Debt xxxxxxxxxxxxxxx1,300 M
Goodwill - Gross xxxxxxxxxxxxxxx4,649 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx1,865 M
Price To Book Value xxxxxxxxxxxxxxx6.33

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

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 xxxxxxxxxxxxxxx108 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

0.9

No. Of Recommendations

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

UBS

xx/xx/xxxx

1

xxx

-

xx.xx%

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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

04/08/2025

1

Buy

$49.00

20.45%

ResMed announced better than expected FY25 EPS by 2%, according to Citi, at US$2.55 versus consensus at US$2.50, with stronger revenue by 1% and much better gross margins which benefitted from a lower USD by circa 120 basis points.

Revenue growth across the divisions came in with devices at 8%, masks at 11%, and SaaS up 9%, with opex growth restrained to allow for a rise in the earnings before interest and tax margin of 260 basis points to 35.3%.

Management has guided to strong gross margin for FY26 between 61% and 63% versus 60% in FY25, which is above consensus but expected to be offset by a higher tax rate of 21% to 23%.

Citi views the consensus revenue growth for FY26 at circa 8% as "conservative" and anticipates 10% growth, with single digit upgrades to consensus earnings estimates likely.

A Buy rating is maintained. Target price lifts to $49 from $45. Citi raises its EPS forecasts by 2% to 4% for FY26 and FY27 on higher expected gross margin assumptions and a further share buyback, offset by a higher tax rate.

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

-

xx.xx%

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Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

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

06/08/2025

2

Overweight

$44.62

9.69%

Jarden maintains an Overweight rating for ResMed and raises its target price to $44.62 from $40.55.

This change follows a record 4Q25 result, with non-GAAP profit up 22.3% year-on-year and a surprise gross margin uplift to 61.4%.

Revenue beat consensus, supported by 4.2% above-expected device growth in rest-of-world markets, explains the analyst.

The broker highlights ResMed’s strong revenue trajectory, cash position of US$541m, and increased buyback to US$150m per quarter.

Jarden lifts FY26-28 EPS forecasts by up to 3.8% and views ResMed as a safe-haven growth stock.
Access Extra Coverage Research History >

RMD STOCK CHART

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Latest Medical Equipment & Devices News

1
Cochlear’s Future In Nexa’s Hands

Aug 19 2025 - Australia
2
ResMed’s New Level Of Support

Jul 29 2025 - Technicals
3
Strength To ‘AI’ Strength For Pro Medicus

Jul 10 2025 - Australia
4
Cochlear Downgrades Ahead Of New Launches

Jun 19 2025 - Australia
5
Fisher & Paykel Healthcare’s Tariffs Annoyance

Jun 04 2025 - Australia
6
ResMed’s Margin Expansion & Tariff Exemption

Apr 28 2025 - Australia
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Feb 18 2025 - Technicals
8
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Feb 07 2025 - ESG Focus
9
ResMed Shakes Off GLP-1 Scare

Feb 04 2025 - Australia
10
ResMed: Another Positive Quarterly Surprise?

Jan 30 2025 - Australia