RESMED INC (RMD)
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RMD - RESMED INC

FNArena Sector : Medical Equipment & Devices
Year End: June
GICS Industry Group : Health Care Equipment & Services
Debt/EBITDA: 1.18
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

$27.74

24 Jun
2024

-4.220

OPEN

$29.01

-13.20%

HIGH

$29.09

7,351,124

LOW

$27.13

TARGET
$35.732 28.8% upside
Franking for last dividend paid out: 0%
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FNARENA'S MARKET CONSENSUS FORECASTS
RMD: 1
Title FY24
Forecast
FY25
Forecast
EPS (cps) 119.0 xxx
DPS (cps) 30.1 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 23.3 xxx
Dividend Yield 1.1% xxx
Div Pay Ratio(%) 25.3% 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: 0.83%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

0.85

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: 08/05 - ex-div 5.15c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx90.9
DPS All xxxxxxxxxxxxxxx21.9
Sales/Revenue xxxxxxxxxxxxxxx6,278.2 M
Book Value Per Share xxxxxxxxxxxxxxx421.9
Net Operating Cash Flow xxxxxxxxxxxxxxx1,030.7 M
Net Profit Margin xxxxxxxxxxxxxxx21.25 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx24.06 %
Return on Invested Capital xxxxxxxxxxxxxxx18.15 %
Return on Assets xxxxxxxxxxxxxxx15.20 %
Return on Equity xxxxxxxxxxxxxxx24.06 %
Return on Total Capital xxxxxxxxxxxxxxx23.14 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx468.8 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 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx48 M
Long Term Debt xxxxxxxxxxxxxxx2,326 M
Total Debt xxxxxxxxxxxxxxx2,373 M
Goodwill - Gross xxxxxxxxxxxxxxx4,162 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx342 M
Price To Book Value xxxxxxxxxxxxxxx7.78

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx199.2 M
Capex % of Sales xxxxxxxxxxxxxxx3.17 %
Cost of Goods Sold xxxxxxxxxxxxxxx2,839 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,727 M
Research & Development xxxxxxxxxxxxxxx428 M
Investments - Total xxxxxxxxxxxxxxx221 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

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

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

02/05/2024

3

Neutral

-

-

ResMed's performance in the March quarter contained on balance more positives than negatives, that much are analysts at UBS willing to concede. Having previously turned longer-term cautious, the analysts retain questions for what is likely on the medium term horizon.

UBS says the big positive was operating leverage coming through via a much increased gross margin; up 249bps to 58.5%. The broker sees small sequential improvements to the margin in FY25.

The big question that remains unresolved, of course, is whether GLP-1s are a benefit or a hinder and UBS doesn't know the answer.

Neutral. Target lifts to US$195 from US$180. Forecasts have been upgraded.

This research was originally released on April 27, 2024.

FORECAST
UBS forecasts a full year FY24 dividend of 29.59 cents and EPS of 119.72 cents.
UBS forecasts a full year FY25 dividend of 31.11 cents and EPS of 132.53 cents.

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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RMD STOCK CHART