NYSE: RMD
ResMed
Health Care · Surgical & Medical Instruments & Apparatus
52-week range
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$31.1B
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| Period | Market cap |
|---|---|
| FY2017, ended Jun 30, 2017 | $11.1B |
| FY2018, ended Jun 30, 2018 | $14.8B |
| FY2019, ended Jun 30, 2019 | $17.5B |
| FY2020, ended Jun 30, 2020 | $27.8B |
| FY2021, ended Jun 30, 2021 | $35.9M |
| FY2022, ended Jun 30, 2022 | $30.7B |
| FY2023, ended Jun 30, 2023 | $32.1B |
| FY2024, ended Jun 30, 2024 | $28.1B |
| FY2025, ended Jun 30, 2025 | $37.8B |
| FY2026, ended Jun 30, 2026 | $28.1B |
| Trailing 12 months to Sep 30, 2026 (through Q1 FY2027) | $31.1B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$5.73B
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| Period | Revenue |
|---|---|
| FY2017, ended Jun 30, 2017 | $2.07B |
| FY2018, ended Jun 30, 2018 | $2.34B |
| FY2019, ended Jun 30, 2019 | $2.61B |
| FY2020, ended Jun 30, 2020 | $2.96B |
| FY2021, ended Jun 30, 2021 | $3.20B |
| FY2022, ended Jun 30, 2022 | $3.58B |
| FY2023, ended Jun 30, 2023 | $4.22B |
| FY2024, ended Jun 30, 2024 | $4.69B |
| FY2025, ended Jun 30, 2025 | $5.15B |
| FY2026, ended Jun 30, 2026 | $5.65B |
| Trailing 12 months to Sep 30, 2026 (through Q1 FY2027) | $5.73B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2017, ended Jun 30, 2017 | $342M | $352M |
| FY2018, ended Jun 30, 2018 | $316M | $442M |
| FY2019, ended Jun 30, 2019 | $405M | $390M |
| FY2020, ended Jun 30, 2020 | $622M | $707M |
| FY2021, ended Jun 30, 2021 | $475M | $634M |
| FY2022, ended Jun 30, 2022 | $779M | $216M |
| FY2023, ended Jun 30, 2023 | $898M | $574M |
| FY2024, ended Jun 30, 2024 | $1.02B | $1.30B |
| FY2025, ended Jun 30, 2025 | $1.40B | $1.66B |
| FY2026, ended Jun 30, 2026 | $1.52B | $1.65B |
| Trailing 12 months to Sep 30, 2026 (through Q1 FY2027) | $1.59B | $1.61B |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$1.01B
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| Period | Cash and cash equivalents |
|---|---|
| FY2017, ended Jun 30, 2017 | $822M |
| FY2018, ended Jun 30, 2018 | $189M |
| FY2019, ended Jun 30, 2019 | $147M |
| FY2020, ended Jun 30, 2020 | $463M |
| FY2021, ended Jun 30, 2021 | $295M |
| FY2022, ended Jun 30, 2022 | $274M |
| FY2023, ended Jun 30, 2023 | $228M |
| FY2024, ended Jun 30, 2024 | $238M |
| FY2025, ended Jun 30, 2025 | $1.21B |
| FY2026, ended Jun 30, 2026 | $1.47B |
| Trailing 12 months to Sep 30, 2026 (through Q1 FY2027) | $1.01B |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$410M
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| Period | Total debt |
|---|---|
| FY2017, ended Jun 30, 2017 | $1.08B |
| FY2018, ended Jun 30, 2018 | $281M |
| FY2019, ended Jun 30, 2019 | $1.27B |
| FY2020, ended Jun 30, 2020 | $1.18B |
| FY2021, ended Jun 30, 2021 | $655M |
| FY2022, ended Jun 30, 2022 | $775M |
| FY2023, ended Jun 30, 2023 | $1.44B |
| FY2024, ended Jun 30, 2024 | $707M |
| FY2025, ended Jun 30, 2025 | $668M |
| FY2026, ended Jun 30, 2026 | $659M |
| Trailing 12 months to Sep 30, 2026 (through Q1 FY2027) | $410M |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Down 1.1% since 2017.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.141M
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| Period | Shares outstanding |
|---|---|
| FY2017, ended Jun 30, 2017 | 142M |
| FY2018, ended Jun 30, 2018 | 143M |
| FY2019, ended Jun 30, 2019 | 144M |
| FY2020, ended Jun 30, 2020 | 145M |
| FY2021, ended Jun 30, 2021 | 146K |
| FY2022, ended Jun 30, 2022 | 146M |
| FY2023, ended Jun 30, 2023 | 147M |
| FY2024, ended Jun 30, 2024 | 147M |
| FY2025, ended Jun 30, 2025 | 146M |
| FY2026, ended Jun 30, 2026 | 144M |
| Trailing 12 months to Sep 30, 2026 (through Q1 FY2027) | 141M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.Net: $1.30B more bought back than issued
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| Period | Bought back | Paid to employees | Sold for cash |
|---|---|---|---|
| FY2017, ended Jun 30, 2017 | — | $45.9M | $38.3M |
| FY2018, ended Jun 30, 2018 | $53.8M | $48.4M | $38.7M |
| FY2019, ended Jun 30, 2019 | $22.8M | $52.1M | $36.7M |
| FY2020, ended Jun 30, 2020 | — | $57.6M | $48.2M |
| FY2021, ended Jun 30, 2021 | — | $63.9M | $37.8M |
| FY2022, ended Jun 30, 2022 | $0 | $65.3M | $47.4M |
| FY2023, ended Jun 30, 2023 | $0 | $71.1M | $49.1M |
| FY2024, ended Jun 30, 2024 | $150M | $80.2M | $53.1M |
| FY2025, ended Jun 30, 2025 | $300M | $91.7M | $74.4M |
| FY2026, ended Jun 30, 2026 | $700M | $104M | $74.5M |
| Trailing 12 months to Sep 30, 2026 (through Q1 FY2027) | $1.49B | $113M | $70.0M |
Revenue (TTM)
$5.73B
+9.0% YoY
Net income (TTM)
$1.59B
+10.8% YoY
Cash
$1.01B
−27.0% YoY
Total debt
$410M
−38.7% YoY
Valuation
At current price- Market Cap
- $32.3B
- P/E
- 20.3×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 5.6×
- Price / Book
- 5.4×
- EV / EBITDA
- 15.2×
Growth
Trailing 12 months- Revenue (TTM)
- $5.73B
- Revenue Growth YoY
- 9.0%
- Revenue CAGR 3Y
- 10.2%
- Revenue CAGR 5Y
- 12.1%
- EPS Growth YoY
- 12.4%
- Net Income Growth YoY
- 10.8%
Profitability
Trailing 12 months- Gross Margin
- 61.1%
- Operating Margin
- 33.0%
- Net Margin
- 27.8%
- FCF Margin
- 28.1%
- Return on Equity
- 26.4%
Earnings
Trailing 12 months- Net Income
- $1.59B
- EPS (diluted)
- $10.98
- EBITDA
- $2.09B
- Operating Income
- $1.89B
Balance Sheet
As of Sep 30, 2026- Cash and cash equivalents
- $1.01B
- Total Debt
- $410M
- Net Cash
- $601M
- Total Assets
- $8.21B
- Total Liabilities
- $2.26B
- Shareholders' Equity
- $5.95B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $1.77B
- Capital Expenditure
- $162M
- Free Cash Flow
- $1.61B
Dividends and risk
Last 12 months- Dividend Yield
- 1.1%
- Dividend / Share
- $2.46
- Beta (5Y)
- 0.75
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 9.0% year over year, at $5.73B.
Strength
Keeps 33.0% of revenue as operating profit.
Strength
Holds more cash than debt, with $601M in net cash.
Strength
Turns 28.1% of revenue into free cash flow.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-Q for the quarter ended Sep 30, 2026 · filed Oct 30, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2026 · 10-K61Nothing notable
10-K for the fiscal year ended Jun 30, 2026
Filed Aug 13, 2026 · Read the filing on EDGAR
- Revenue rose about 10% to $5,653.4M and net income rose about 9% to $1,523.3M, slower growth than last year's 37% profit jump.
- The global minimum tax (Pillar Two) had a material impact on tax expense and cash flow in fiscal 2026 and may continue to in 2027.
- Accrued costs for product safety notices jumped from $4.8M to $45.7M, which points to a product field action.
- There are new risk factors on AI in its products and on the Noctrix restless-legs device, which has no Medicare coverage decision yet.
Business momentum
Improving
“Net revenue $ 1,335,582 $ 1,422,808 $ 1,431,406 $ 1,463,647 $ 5,653,443”
Outlook
Cautious
“the Pillar Two minimum tax had a material impact on our income tax expense and cash flows during the fiscal year ended June 30, 2026 and may continue to impact our effective tax rate in fiscal year 2027.”
Financial stress
Low
“At June 30, 2026, we held cash and cash equivalents of $1,469 million principally comprising of bank term deposits, at-call accounts and money market accounts”
Tone against the previous report
About the same
Red flags
- Minor
Other
“Field safety notification expenses 45,657 4,813”
Positives
Steady revenue and profit growth
“Net income $ 348,536 $ 392,593 $ 398,732 $ 383,432 $ 1,523,293”
Gross profit up about 13%
“Gross profit $ 820,820 $ 878,724 $ 890,979 $ 861,216 $ 3,451,739”
Cash exceeds total debt by a wide margin
“Total debt $ 659,365 $ 668,292”
Concerns
Product safety notice costs surged
“Field safety notification expenses 45,657 4,813”
Higher tax burden from global minimum tax
“may continue to impact our effective tax rate in fiscal year 2027”
Medicaid cuts could reduce patients
“Future legislative and other governmental actions to curb this projected spending could include stricter eligibility requirements and more restrictive Medicaid programs at the state level”
New risks since the previous report
Global minimum tax now materially raising taxes
“the Pillar Two minimum tax had a material impact on our income tax expense and cash flows during the fiscal year ended June 30, 2026”
AI features may fail or face new rules
“AI-enabled features may not perform as intended and could produce inaccurate, inconsistent or unintended outputs.”
Noctrix device lacks Medicare coverage decision
“If more restrictive coverage is implemented, our Noctrix revenues could be reduced.”
New FDA quality rules (QMSR)
“It remains unclear the extent to which the QMSR may impose additional or different regulatory requirements on us.”
Much larger currency swap positions
“The notional value of outstanding foreign cross-currency swaps was $3,412 million and $1,128 million at June 30, 2026 and June 30, 2025, respectively.”
Biggest risks named
- Reimbursement cuts by Medicare, Medicaid and insurers
- FDA regulation, recalls and new quality rules
- Tax audits and global minimum tax
- Weight-loss drugs reducing perceived demand for sleep devices
- Foreign currency exposure
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | +6 | |
| Outlook | −2 | |
| Tone against the previous report | 0 | |
| Financial stress | 0 | |
| Red flags | −0.9 | |
| New risks | −2 | |
| Score | 61 | |
Written by AI (Claude Opus 5.5) from the report’s text. 15 of 15 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-Q | Oct 30, 2026 | Pro | |||
| 10-K | Aug 13, 2026 | 61 | Improving | 1 minor | |
| 10-K | Aug 8, 2025 | 70 | Strong improvement | None | |
| 10-K | Aug 9, 2024 | 61 | Improving | 2 minor | |
| 10-K | Aug 11, 2023 | 68 | Strong improvement | None | |
| 10-K | Aug 12, 2022 | 70 | Strong improvement | None | |
| 10-K | Aug 17, 2021 | 52 | Mixed | 1 medium | |
| 10-K | Aug 13, 2020 | 70 | Strong improvement | None | |
| 10-K | Aug 8, 2019 | 67 | Strong improvement | 1 medium | |
| 10-K | Aug 17, 2018 | 54 | Mixed | 1 medium |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q1 FY2027 (period ended Sep 30, 2026), filed Oct 30, 2026. View filings on SEC EDGAR