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

$31.79

02 Oct
2026

0.240

OPEN

$31.78

0.76%

HIGH

$32.02

947,071

LOW

$31.75

TARGET
$38.875 22.3% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
RMD: 1
Title FY27
Forecast		 FY28
Forecast
EPS (cps) 175.5 xxx
DPS (cps) 38.8 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 18.0 xxx
Dividend Yield 1.2% xxx
Div Pay Ratio(%) 22.1% 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: 1.48%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.09

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

0.7

No. Of Recommendations

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

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

-

xx.xx%

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Morgans

11/08/2026

1

Buy

$39.50

24.25%

ResMed's June Q result was broadly in line, with another quarter of double-digit earnings per share growth, gross margin expansion and strong cash generation, Morgans notes.

While headline guidance appears soft, Morgans points out it includes only two months of MatrixCare, excludes Noctrix revenue and incorporates Astral headwinds.

Normalising for these items implies underlying revenue growth of around 5%-7% and EPS growth of approximately 12%-14%, which remains consistent with recent operating momentum.

While inflationary pressures persist, commentary counters that ongoing productivity initiatives, manufacturing efficiencies and modest pricing actions will more than offset these headwinds and support continued gross margin expansion through FY30.

Morgans views ResMed's fundamentals as sound, with consistent execution, strong cash generation and structural growth tailwinds from expanding diagnosis and resupply. Target falls to $39.50 from $40.97, Buy retained.

FORECAST
Morgans forecasts a full year FY27 dividend of 38.10 cents and EPS of 174.05 cents.
Morgans forecasts a full year FY28 dividend of 41.71 cents and EPS of 196.42 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$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

1

xxx

$xx.xx

xx.xx%

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Jarden

12/08/2026

2

Overweight

$39.90

25.51%

Jarden maintains an Overweight rating for ResMed with its target price decreased to $39.90 from $40.20 following the release of fourth-quarter financial results.

Non-GAAP net profit after tax reached US$428m, beating market expectations by 1.8% despite a -2.6% EBIT shortfall caused by gross margin compression and higher research and development expenses.

The analyst notes robust underlying momentum, highlighted by 8% growth in United States sleep devices surpassing prior expectations.

To counter persistent inflationary pressures carrying into FY27, management plans to implement modest product price increases alongside further supply-chain initiatives.

The broker's estimates reflect near-term earnings per share cuts of -1%-2% while maintaining an optimistic outlook on core business strength.
Access Extra Coverage Research History >

RMD STOCK CHART

FNArena News on RMD

1
Australian Broker Call *Extra* Edition – Sep 30, 2026

Sep 30 2026 - Daily Market Reports
2
Rudi’s View: The Index Is No Longer The Market

Sep 30 2026 - Rudi's View
3
Rudi’s View: Ampol, BlueScope, Evolution, Infratil, Ramelius & More

Sep 24 2026 - Rudi's View
4
Treasure Chest: Healthcare Upgrades

Sep 17 2026 - Treasure Chest
5
Rudi’s View: A Market Short On Rewards

Sep 16 2026 - Rudi's View

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Aug 13 2026 - Rudi's View
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