Insulet (PODD) Financials

$154.87 0.00 (0.00%)

Closing price 05/22/2026 04:00 PM Eastern

Extended Trading

$154.70 -0.18 (-0.11%)

As of 05/22/2026 07:59 PM Eastern

Annual Income Statements for Insulet

This table shows Insulet's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-74	-29	-27	3.30	12	6.80	17	4.60	206	418	247
Consolidated Net Income / (Loss)	-74	-29	-27	3.30	12	6.80	17	4.60	206	418	247
Net Income / (Loss) Continuing Operations	-62	-27	-27	3.30	12	6.80	17	4.60	206	418	247
Total Pre-Tax Income	-61	-27	-27	5.20	15	9.70	21	9.80	215	300	340
Total Operating Income	-49	-11	-7.40	27	50	52	126	38	220	309	474
Total Gross Profit	133	211	277	370	480	582	752	806	1,160	1,446	1,940
Total Revenue	264	367	464	564	738	904	1,099	1,305	1,697	2,072	2,708
Operating Revenue	264	367	464	564	738	904	1,099	1,305	1,697	2,072	2,708
Total Cost of Revenue	131	156	187	194	258	322	347	500	537	626	768
Operating Cost of Revenue	131	156	187	194	258	322	347	500	537	626	768
Total Operating Expenses	182	222	285	343	430	531	626	768	940	1,137	1,466
Selling, General & Admin Expense	60	72	85	248	298	384	466	588	735	917	1,165
Research & Development Expense	43	56	76	95	132	147	160	180	205	220	301
Total Other Income / (Expense), net	-13	-16	-19	-22	-36	-42	-106	-28	-5.40	-8.70	-134
Interest Expense	13	17	22	21	36	45	104	36	36	43	183
Interest & Investment Income	-	-	-	-	-	-	0.50	9.30	29	40	35
Other Income / (Expense), net	0.06	0.83	2.60	-0.90	0.90	3.30	-1.90	-1.10	2.20	-5.50	14
Income Tax Expense	0.21	0.39	0.20	1.90	2.90	2.90	3.70	5.20	8.30	-118	92
Basic Earnings per Share	-	($0.48)	($0.46)	$0.06	$0.19	$0.11	$0.25	$0.07	$2.96	$5.97	$3.51
Weighted Average Basic Shares Outstanding	56.79M	57.25M	58.00M	58.86M	60.59M	64.74M	67.70M	69.38M	69.75M	70.08M	70.35M
Diluted Earnings per Share	-	($0.48)	($0.46)	$0.05	$0.19	$0.10	$0.24	$0.07	$2.94	$5.78	$3.48
Weighted Average Diluted Shares Outstanding	56.79M	57.25M	58.00M	61.01M	62.30M	65.95M	68.58M	69.91M	73.63M	73.89M	71.89M
Weighted Average Basic & Diluted Shares Outstanding	56.79M	57.25M	58.30M	-19.40M	62.86M	66.08M	69.22M	69.54M	69.93M	70.23M	70.40M

This table shows Insulet's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	52	103	52	189	78	101	35	23	88	102	91
Consolidated Net Income / (Loss)	52	103	52	189	78	101	35	23	88	102	91
Net Income / (Loss) Continuing Operations	52	103	52	189	78	101	36	23	88	102	91
Total Pre-Tax Income	54	108	55	51	83	111	48	28	123	140	113
Total Operating Income	55	106	57	55	88	109	89	121	118	146	122
Total Gross Profit	293	361	307	331	377	431	409	452	510	569	529
Total Revenue	433	510	442	489	544	598	569	649	706	784	762
Operating Revenue	433	510	442	489	544	598	569	649	706	784	762
Total Cost of Revenue	139	149	135	158	167	167	160	197	196	215	233
Operating Cost of Revenue	139	149	135	158	167	167	160	197	196	215	233
Total Operating Expenses	239	255	250	276	289	322	320	331	392	422	407
Selling, General & Admin Expense	181	213	200	223	234	261	261	258	315	332	317
Research & Development Expense	58	42	50	54	55	61	60	73	77	91	90
Total Other Income / (Expense), net	-1.10	1.40	-2.00	-3.50	-5.30	2.00	-41	-93	5.10	-6.10	-9.10
Interest Expense	10	6.70	11	11	12	8.70	49	104	16	15	15
Interest & Investment Income	8.60	6.20	9.40	9.30	11	10	10	10	8.60	5.70	4.90
Other Income / (Expense), net	0.70	1.90	-0.70	-1.80	-3.40	0.40	-2.20	1.30	12	3.20	0.70
Income Tax Expense	1.80	4.50	3.40	-138	5.40	11	13	5.90	35	39	22
Basic Earnings per Share	$0.74	$1.49	$0.74	$2.69	$1.11	$1.43	$0.50	$0.32	$1.24	$1.45	$1.30
Weighted Average Basic Shares Outstanding	69.82M	69.75M	69.96M	70.06M	70.12M	70.08M	70.27M	70.39M	70.37M	70.35M	69.99M
Diluted Earnings per Share	$0.74	$1.47	$0.73	$2.59	$1.08	$1.38	$0.50	$0.32	$1.24	$1.42	$1.30
Weighted Average Diluted Shares Outstanding	73.62M	73.63M	73.74M	73.80M	73.95M	73.89M	74.11M	70.65M	70.66M	71.89M	70.20M
Weighted Average Basic & Diluted Shares Outstanding	69.83M	69.93M	70.04M	70.12M	70.14M	70.23M	70.37M	70.39M	70.35M	70.40M	69.26M

This table details how cash moves in and out of Insulet's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-29	15	135	-159	100	708	-116	-117	14	249	-237
Net Cash From Operating Activities	-13	16	41	36	98	84	-68	119	146	430	569
Net Cash From Continuing Operating Activities	-13	16	41	36	98	84	-68	119	146	430	569
Net Income / (Loss) Continuing Operations	-74	-29	-27	3.30	12	6.80	17	4.60	206	418	247
Consolidated Net Income / (Loss)	-74	-29	-27	3.30	12	6.80	17	4.60	206	418	247
Depreciation Expense	16	14	14	16	28	55	57	63	73	81	90
Amortization Expense	7.68	10	18	29	36	45	40	5.80	6.70	7.30	6.20
Non-Cash Adjustments To Reconcile Net Income	29	47	8.10	41	42	39	80	45	48	73	192
Changes in Operating Assets and Liabilities, net	8.00	-26	28	-53	-19	-63	-262	0.30	-188	-149	34
Net Cash From Investing Activities	-15	-178	-211	-185	-74	14	-83	-191	-119	-146	-223
Net Cash From Continuing Investing Activities	-15	-178	-211	-185	-74	14	-83	-191	-119	-146	-223
Purchase of Property, Plant & Equipment	-11	-22	-74	-157	-164	-167	-123	-136	-84	-134	-211
Acquisitions	-4.72	-	-3.40	-5.00	-7.20	0.00	0.00	-48	-25	0.00	-8.60
Purchase of Investments	0.00	-178	-298	-191	-151	-38	0.00	-7.80	-7.20	-12	0.00
Other Investing Activities, net	-	-	-	-	-	-	-	-	-3.00	0.00	-3.20
Net Cash From Financing Activities	-0.37	177	305	-8.70	74	606	41	-40	-14	-28	-595
Net Cash From Continuing Financing Activities	-0.37	177	305	-8.70	74	606	41	-40	-14	-28	-595
Repayment of Debt	-5.58	-159	-99	-6.70	-664	66	-485	-20	-22	-56	-1,194
Repurchase of Common Equity	-	-	-	-	-	-	-	-	0.00	0.00	-60
Issuance of Debt	0.00	334	392	0.00	780	0.00	490	0.00	0.00	176	506
Issuance of Common Equity	7.85	4.85	16	0.00	4.30	484	8.10	9.40	11	12	15
Other Financing Activities, net	-2.65	-2.87	-4.10	-2.00	-47	56	28	-30	-1.90	-159	137
Effect of Exchange Rate Changes	-0.28	0.03	-	-1.40	1.50	4.80	-5.50	-4.30	1.80	-6.80	12

This table details how cash moves in and out of Insulet's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	25	19	47	70	82	51	330	-161	-364	-41	-236
Net Cash From Operating Activities	56	45	88	97	99	148	64	197	126	183	114
Net Cash From Continuing Operating Activities	57	44	88	97	99	144	64	197	126	183	114
Net Income / (Loss) Continuing Operations	52	103	52	189	78	101	35	23	88	102	91
Consolidated Net Income / (Loss)	52	103	52	189	78	101	35	23	88	102	91
Depreciation Expense	19	19	19	19	21	22	22	22	22	24	26
Amortization Expense	1.60	2.10	2.00	1.80	1.60	1.90	2.50	2.10	0.80	0.80	0.70
Non-Cash Adjustments To Reconcile Net Income	11	10	15	16	22	15	62	92	17	21	22
Changes in Operating Assets and Liabilities, net	-26	-90	-0.10	-130	-24	4.40	-58	57	-1.50	36	-26
Net Cash From Investing Activities	-23	-32	-24	-25	-29	-68	-16	-23	-31	-153	-28
Net Cash From Continuing Investing Activities	-23	-32	-24	-25	-29	-68	-16	-23	-31	-153	-28
Purchase of Property, Plant & Equipment	-22	-32	-24	-25	-29	-56	-16	-23	-31	-141	-28
Net Cash From Financing Activities	-6.90	2.20	-14	-0.90	7.80	-21	278	-344	-457	-73	-320
Net Cash From Continuing Financing Activities	-6.90	2.20	-14	-0.90	7.80	-21	278	-344	-457	-73	-320
Repayment of Debt	-5.50	-5.50	-7.80	-5.60	-27	-16	-183	-401	-531	-81	-4.50
Repurchase of Common Equity	-	-	-	-	-	-	0.00	-	-30	-	-300
Issuance of Debt	-	-	0.00	-	-	13	456	36	13	0.50	0.00
Other Financing Activities, net	-1.40	2.60	-6.30	-1.30	-128	-24	4.40	44	90	-0.20	-15
Effect of Exchange Rate Changes	-1.20	3.00	-2.50	-0.90	4.60	-8.00	3.80	8.90	-1.90	0.70	-1.90

This table presents Insulet's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	275	457	817	929	1,143	1,873	2,049	2,251	2,588	3,088	3,190
Total Current Assets	191	370	537	461	591	1,249	1,330	1,314	1,583	1,891	1,914
Cash & Equivalents	123	137	273	114	214	907	792	675	704	953	716
Accounts Receivable	43	29	53	77	69	95	161	206	360	366	517
Inventories, net	12	36	34	71	101	154	303	347	403	430	453
Prepaid Expenses	4.28	7.07	9.95	24	45	52	74	87	116	142	228
Plant, Property, & Equipment, net	42	45	108	258	399	479	537	600	665	723	820
Total Noncurrent Assets	43	42	172	209	153	146	183	337	340	473	457
Goodwill	40	40	40	40	40	40	40	52	52	52	52
Intangible Assets	0.93	2.04	4.35	10	13	29	37	76	99	99	117
Other Noncurrent Operating Assets	0.08	0.22	1.97	18	41	77	106	210	188	182	288
Total Liabilities & Shareholders' Equity	275	457	817	929	1,143	1,873	2,049	2,251	2,588	3,088	3,190
Total Liabilities	241	393	658	717	1,067	1,269	1,493	1,775	1,856	1,876	1,675
Total Current Liabilities	65	56	86	116	158	208	229	365	451	528	680
Short-Term Debt	5.52	-	-	-	0.00	16	25	28	49	84	18
Accounts Payable	15	13	24	26	55	54	38	31	19	20	75
Accrued Expenses	37	41	59	90	103	138	166	306	383	425	587
Total Noncurrent Liabilities	176	338	572	601	909	1,062	1,264	1,410	1,404	1,348	995
Long-Term Debt	172	333	566	592	888	1,044	1,249	1,374	1,366	1,296	931
Other Noncurrent Operating Liabilities	3.95	5.03	6.03	8.90	21	18	15	36	38	52	64
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	34	63	159	212	76	604	556	476	733	1,212	1,515
Total Preferred & Common Equity	34	63	159	212	76	604	556	476	733	1,212	1,515
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	34	63	159	212	76	604	556	476	733	1,212	1,515
Common Stock	686	744	866	899	749	1,264	1,208	1,041	1,103	1,185	1,275
Retained Earnings	-652	-680	-707	-684	-672	-666	-650	-584	-378	40	287
Treasury Stock	-	-	-	-	-	-	-	-	-	0.00	-60
Accumulated Other Comprehensive Income / (Loss)	-0.65	-0.73	-0.49	-2.90	-1.20	5.50	-2.20	20	8.00	-13	13

This table presents Insulet's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	2,386	2,468	2,588	2,624	2,882	3,025	3,088	3,517	3,469	3,029	2,987
Total Current Assets	1,422	1,471	1,583	1,618	1,749	1,861	1,891	2,328	2,280	1,859	1,710
Cash & Equivalents	660	685	704	751	821	903	953	1,283	1,122	757	480
Accounts Receivable	251	270	360	321	349	376	366	402	445	462	545
Inventories, net	411	411	403	431	431	445	430	441	447	446	463
Prepaid Expenses	100	105	116	116	148	138	142	202	267	73	222
Plant, Property, & Equipment, net	602	649	665	668	678	703	723	719	720	724	830
Total Noncurrent Assets	363	347	340	338	455	462	473	470	469	446	447
Goodwill	52	52	52	52	52	52	52	52	52	52	52
Intangible Assets	100	100	99	99	99	100	99	100	102	105	115
Other Noncurrent Operating Assets	212	196	188	188	164	166	182	319	315	188	281
Total Liabilities & Shareholders' Equity	2,386	2,468	2,588	2,624	2,882	3,025	3,088	3,517	3,469	3,029	2,987
Total Liabilities	1,832	1,860	1,856	1,833	1,883	1,907	1,876	2,187	2,006	1,645	1,685
Total Current Liabilities	425	451	451	432	486	506	528	520	1,010	648	688
Short-Term Debt	29	50	49	39	38	42	84	83	461	80	19
Accounts Payable	108	78	19	76	77	40	20	58	96	48	150
Accrued Expenses	288	324	383	318	371	424	425	380	453	520	519
Total Noncurrent Liabilities	1,407	1,409	1,404	1,401	1,397	1,401	1,348	1,666	996	998	997
Long-Term Debt	1,369	1,371	1,366	1,363	1,360	1,356	1,296	1,612	939	935	930
Other Noncurrent Operating Liabilities	38	38	38	38	37	45	52	54	57	63	68
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	554	608	733	791	998	1,118	1,212	1,331	1,463	1,384	1,303
Total Preferred & Common Equity	554	608	733	791	998	1,118	1,212	1,331	1,463	1,384	1,303
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	554	608	733	791	998	1,118	1,212	1,331	1,462	1,384	1,303
Common Stock	1,071	1,081	1,103	1,118	1,141	1,159	1,185	1,261	1,380	1,246	1,281
Retained Earnings	-533	-481	-378	-327	-138	-60	40	76	98	186	379
Treasury Stock	-	-	-	-	-	-	-	-	-31	-	-363
Accumulated Other Comprehensive Income / (Loss)	16	7.60	8.00	-0.50	-4.40	20	-13	-6.00	15	12	5.60
Other Equity Adjustments	-	-	-	-	-	-	-	-0.20	-	-60	0.90

This table displays calculated financial ratios and metrics derived from Insulet's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	14.08%	39.07%	26.38%	21.56%	30.93%	22.51%	21.49%	18.79%	30.02%	22.07%	30.73%
EBITDA Growth	-303.30%	155.73%	93.27%	163.47%	60.22%	35.84%	42.66%	-52.41%	185.97%	29.76%	49.35%
EBIT Growth	-382.01%	79.71%	51.41%	652.08%	92.08%	7.66%	126.46%	-70.59%	508.77%	36.54%	60.88%
NOPAT Growth	-449.20%	78.04%	30.87%	435.68%	130.04%	-9.74%	186.01%	-82.91%	1,098.32%	103.52%	-19.88%
Net Income Growth	-42.76%	60.72%	7.20%	112.31%	251.52%	-41.38%	147.06%	-72.62%	4,384.78%	102.76%	-40.93%
EPS Growth	0.00%	0.00%	4.17%	110.87%	280.00%	-47.37%	140.00%	-70.83%	4,100.00%	96.60%	-39.79%
Operating Cash Flow Growth	-240.72%	226.76%	159.57%	-13.08%	174.09%	-14.63%	-181.07%	274.74%	22.44%	195.33%	32.33%
Free Cash Flow Firm Growth	-23.65%	-47.81%	257.69%	-968.13%	61.61%	-30.46%	-46.80%	33.08%	80.10%	907.34%	-0.92%
Invested Capital Growth	-18.89%	17.32%	-40.74%	549.00%	41.37%	35.14%	45.20%	15.88%	20.01%	13.42%	6.73%
Revenue Q/Q Growth	35.15%	5.70%	6.18%	6.48%	6.42%	4.23%	5.94%	4.99%	9.00%	4.42%	7.38%
EBITDA Q/Q Growth	-97.18%	227.08%	28.64%	21.10%	17.38%	-4.66%	22.83%	-22.03%	40.20%	1.01%	7.62%
EBIT Q/Q Growth	-39.88%	47.15%	46.43%	58.37%	19.74%	-30.90%	80.38%	-39.97%	59.97%	0.46%	8.83%
NOPAT Q/Q Growth	-39.44%	44.21%	31.19%	138.65%	-6.47%	-43.14%	113.79%	-65.59%	65.96%	-0.85%	-0.45%
Net Income Q/Q Growth	-42.50%	38.67%	7.87%	124.57%	-29.70%	-76.47%	156.95%	-72.62%	71.92%	-0.62%	0.37%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	26.67%	-77.78%	153.33%	-72.00%	70.93%	-1.53%	1.16%
Operating Cash Flow Q/Q Growth	-217.86%	169.93%	4.62%	31.25%	20.09%	-26.25%	-166.02%	178.04%	-3.64%	31.27%	6.69%
Free Cash Flow Firm Q/Q Growth	-123.70%	37.95%	189.43%	-52.47%	-4.45%	-167.80%	15.07%	-9.30%	71.37%	45.26%	-26.37%
Invested Capital Q/Q Growth	-8.43%	-13.41%	-59.78%	7.88%	5.90%	15.50%	12.08%	8.16%	7.58%	1.51%	6.50%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	50.50%	57.52%	59.77%	65.66%	65.06%	64.39%	68.45%	61.72%	68.35%	69.79%	71.63%
EBITDA Margin	-9.53%	3.82%	5.84%	12.66%	15.50%	17.18%	20.18%	8.08%	17.78%	18.90%	21.59%
Operating Margin	-18.47%	-2.92%	-1.60%	4.86%	6.77%	5.69%	11.47%	2.88%	12.96%	14.91%	17.50%
EBIT Margin	-18.45%	-2.69%	-1.03%	4.70%	6.90%	6.06%	11.29%	2.80%	13.09%	14.65%	18.02%
Profit (Net Income) Margin	-27.86%	-7.87%	-5.78%	0.59%	1.57%	0.75%	1.53%	0.35%	12.16%	20.19%	9.12%
Tax Burden Percent	119.76%	107.69%	100.75%	63.46%	80.00%	70.10%	81.95%	46.94%	96.13%	139.34%	72.78%
Interest Burden Percent	126.11%	271.46%	554.17%	19.62%	28.49%	17.70%	16.52%	26.85%	96.58%	98.95%	69.56%
Effective Tax Rate	0.00%	0.00%	0.00%	36.54%	20.00%	29.90%	18.05%	53.06%	3.87%	-39.34%	27.22%
Return on Invested Capital (ROIC)	-36.83%	-8.31%	-6.68%	8.05%	8.85%	5.80%	11.77%	1.57%	15.97%	27.93%	20.37%
ROIC Less NNEP Spread (ROIC-NNEP)	-153.76%	-59.77%	-12.23%	4.94%	-0.37%	-4.57%	-17.34%	-0.58%	15.25%	25.80%	-9.29%
Return on Net Nonoperating Assets (RNNOA)	-87.91%	-51.11%	15.28%	-9.44%	-0.80%	-3.80%	-8.88%	-0.68%	18.15%	15.10%	-2.25%
Return on Equity (ROE)	-124.74%	-59.42%	8.59%	-1.39%	8.06%	2.00%	2.90%	0.89%	34.12%	43.03%	18.12%
Cash Return on Invested Capital (CROIC)	-15.97%	-24.25%	44.48%	-138.55%	-25.43%	-24.09%	-25.09%	-13.14%	-2.21%	15.35%	13.86%
Operating Return on Assets (OROA)	-17.01%	-2.70%	-0.74%	3.00%	4.91%	3.63%	6.33%	1.70%	9.18%	10.69%	15.55%
Return on Assets (ROA)	-25.69%	-7.89%	-4.13%	0.37%	1.12%	0.45%	0.86%	0.21%	8.53%	14.74%	7.87%
Return on Common Equity (ROCE)	-124.74%	-59.42%	8.59%	-1.39%	8.06%	2.00%	2.90%	0.89%	34.12%	43.03%	18.12%
Return on Equity Simple (ROE_SIMPLE)	-215.91%	-45.73%	-14.98%	1.56%	15.28%	1.13%	3.02%	0.97%	28.16%	34.52%	0.00%
Net Operating Profit after Tax (NOPAT)	-34	-7.49	-5.18	17	40	36	103	18	211	430	345
NOPAT Margin	-12.93%	-2.04%	-1.12%	3.08%	5.42%	3.99%	9.40%	1.35%	12.46%	20.78%	12.73%
Net Nonoperating Expense Percent (NNEP)	116.94%	51.46%	5.55%	3.11%	9.23%	10.37%	29.11%	2.16%	0.72%	2.13%	29.66%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	0.94%	9.84%	16.61%	13.99%
Cost of Revenue to Revenue	49.50%	42.48%	40.23%	34.34%	34.94%	35.61%	31.55%	38.28%	31.65%	30.21%	28.37%
SG&A Expenses to Revenue	22.89%	19.51%	18.26%	43.99%	40.37%	42.46%	42.41%	45.03%	43.30%	44.28%	43.02%
R&D to Revenue	16.37%	15.18%	16.32%	16.81%	17.92%	16.23%	14.57%	13.81%	12.08%	10.60%	11.12%
Operating Expenses to Revenue	68.97%	60.44%	61.36%	60.80%	58.29%	58.69%	56.98%	58.84%	55.38%	54.88%	54.14%
Earnings before Interest and Taxes (EBIT)	-49	-9.88	-4.80	27	51	55	124	37	222	303	488
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-25	14	27	71	114	155	222	106	302	392	585
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	63.21	34.26	0.00	22.09	139.44	27.92	32.99	42.92	20.68	15.11	13.20
Price to Tangible Book Value (P/TBV)	0.00	100.96	0.00	28.91	462.18	31.50	38.24	58.55	26.02	17.25	14.86
Price to Revenue (P/Rev)	8.16	5.90	8.66	8.31	14.34	18.63	16.70	15.66	8.93	8.84	7.38
Price to Earnings (P/E)	0.00	0.00	0.00	1,420.00	912.40	2,478.40	1,092.27	4,444.57	73.44	43.78	80.92
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.07%	0.11%	0.04%	0.09%	0.02%	1.36%	2.28%	1.24%
Enterprise Value to Invested Capital (EV/IC)	26.60	22.58	69.60	12.95	20.85	23.72	18.13	17.59	10.98	11.44	11.57
Enterprise Value to Revenue (EV/Rev)	8.36	5.99	8.66	8.60	14.95	18.76	17.14	16.22	9.35	9.05	7.47
Enterprise Value to EBITDA (EV/EBITDA)	0.00	156.75	148.15	67.90	96.48	109.17	84.95	200.68	52.58	47.87	34.60
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	182.96	216.84	309.58	151.75	580.06	71.39	61.76	41.44
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	278.82	275.93	469.90	182.38	1,199.62	75.00	43.54	58.66
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	138.14	97.21	135.05	112.17	201.96	0.00	177.92	108.87	43.55	35.53
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	116.45	0.00	0.00	0.00	0.00	0.00	0.00	79.19	86.21
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	5.21	5.27	0.00	2.79	11.70	1.76	2.29	2.94	1.93	1.14	0.63
Long-Term Debt to Equity	5.05	5.27	0.00	2.79	11.70	1.73	2.24	2.88	1.86	1.07	0.61
Financial Leverage	0.57	0.86	-1.25	-1.91	2.14	0.83	0.51	1.17	1.19	0.59	0.24
Leverage Ratio	4.86	7.53	-2.08	-3.73	7.19	4.44	3.38	4.16	4.00	2.92	2.30
Compound Leverage Factor	6.12	20.44	-11.52	-0.73	2.05	0.79	0.56	1.12	3.87	2.89	1.60
Debt to Total Capital	83.90%	84.05%	0.00%	73.62%	92.12%	63.70%	69.60%	74.64%	65.90%	53.25%	38.52%
Short-Term Debt to Total Capital	2.61%	0.00%	0.00%	0.00%	0.00%	0.94%	1.37%	1.46%	2.30%	3.23%	0.75%
Long-Term Debt to Total Capital	81.29%	84.05%	0.00%	73.62%	92.12%	62.76%	68.23%	73.17%	63.60%	50.01%	37.77%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	16.10%	15.95%	100.00%	26.38%	7.88%	36.30%	30.40%	25.36%	34.10%	46.75%	61.46%
Debt to EBITDA	-7.05	23.73	0.00	8.29	7.76	6.82	5.75	13.29	4.69	3.52	1.62
Net Debt to EBITDA	-2.18	2.44	0.00	2.27	3.96	0.72	2.18	6.89	2.36	1.09	0.40
Long-Term Debt to EBITDA	-6.83	23.73	0.00	8.29	7.76	6.72	5.63	13.03	4.53	3.31	1.59
Debt to NOPAT	-5.20	-44.41	0.00	34.05	22.20	29.34	12.34	79.43	6.69	3.21	2.75
Net Debt to NOPAT	-1.61	-4.56	0.00	9.33	11.34	3.09	4.67	41.20	3.36	0.99	0.68
Long-Term Debt to NOPAT	-5.04	-44.41	0.00	34.05	22.20	28.91	12.09	77.87	6.46	3.01	2.70
Altman Z-Score	2.96	2.77	3.69	4.04	6.38	8.71	8.31	7.69	6.16	7.40	9.11
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.03%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.93	6.64	6.17	3.99	3.75	6.01	5.81	3.60	3.51	3.58	2.81
Quick Ratio	2.54	5.88	0.06	3.16	2.82	5.02	4.16	2.41	2.36	2.50	1.81
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-15	-22	34	-299	-115	-150	-220	-147	-29	237	235
Operating Cash Flow to CapEx	-118.33%	71.95%	55.96%	22.81%	60.11%	50.45%	-55.50%	87.63%	173.25%	321.12%	270.07%
Free Cash Flow to Firm to Interest Expense	-1.16	-1.29	1.58	-14.05	-3.16	-3.32	-2.11	-4.09	-0.81	5.54	1.28
Operating Cash Flow to Interest Expense	-0.99	0.94	1.89	1.69	2.70	1.86	-0.65	3.31	4.02	10.08	3.11
Operating Cash Flow Less CapEx to Interest Expense	-1.82	-0.37	-1.49	-5.70	-1.79	-1.83	-1.83	-0.47	1.70	6.94	1.96
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.92	1.00	0.72	0.64	0.71	0.60	0.56	0.61	0.70	0.73	0.86
Accounts Receivable Turnover	6.40	10.29	27.35	13.78	10.11	10.99	8.57	7.12	6.00	5.71	6.14
Inventory Turnover	10.40	6.56	5.44	3.71	2.99	2.52	1.52	1.54	1.43	1.50	1.74
Fixed Asset Turnover	6.69	8.48	0.00	0.00	2.24	2.06	2.16	2.30	2.68	2.99	3.51
Accounts Payable Turnover	8.75	10.99	0.00	0.00	6.45	5.93	7.55	14.59	21.49	32.10	16.21
Days Sales Outstanding (DSO)	56.99	35.47	13.35	26.48	36.09	33.21	42.57	51.26	60.79	63.89	59.47
Days Inventory Outstanding (DIO)	35.10	55.65	67.05	98.45	122.00	144.65	240.82	237.39	254.59	242.89	209.77
Days Payable Outstanding (DPO)	41.74	33.21	0.00	0.00	56.61	61.53	48.32	25.02	16.99	11.37	22.52
Cash Conversion Cycle (CCC)	50.36	57.91	80.40	124.94	101.48	116.33	235.07	263.63	298.39	295.40	246.72
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	83	97	58	374	529	715	1,039	1,204	1,444	1,638	1,748
Invested Capital Turnover	2.85	4.07	5.98	2.61	1.63	1.45	1.25	1.16	1.28	1.34	1.60
Increase / (Decrease) in Invested Capital	-19	14	-40	317	155	186	323	165	241	194	110
Enterprise Value (EV)	2,207	2,198	4,015	4,848	11,037	16,965	18,832	21,172	15,863	18,739	20,229
Market Capitalization	2,152	2,164	4,015	4,686	10,584	16,853	18,350	20,445	15,151	18,313	19,995
Book Value per Share	$0.60	$1.10	($11.81)	$3.59	$1.23	$9.16	$8.07	$6.86	$10.49	$17.27	$21.53
Tangible Book Value per Share	($0.11)	$0.37	($11.81)	$2.74	$0.37	$8.12	$6.96	$5.03	$8.34	$15.13	$19.13
Total Capital	212	396	-687	804	964	1,663	1,830	1,878	2,149	2,592	2,464
Total Debt	177	333	0.00	592	888	1,059	1,274	1,402	1,416	1,380	949
Total Long-Term Debt	172	333	0.00	592	888	1,044	1,249	1,374	1,366	1,296	931
Net Debt	55	34	0.00	162	453	112	482	727	712	427	233
Capital Expenditures (CapEx)	11	22	74	157	164	167	123	136	84	134	211
Debt-free, Cash-free Net Working Capital (DFCFNWC)	8.45	16	458	57	57	109	335	302	477	493	536
Debt-free Net Working Capital (DFNWC)	131	314	458	346	433	1,057	1,126	977	1,181	1,447	1,252
Net Working Capital (NWC)	126	314	458	346	433	1,041	1,101	949	1,132	1,363	1,234
Net Nonoperating Expense (NNE)	39	21	22	14	28	29	86	13	5.19	12	98
Net Nonoperating Obligations (NNO)	49	34	745	162	453	112	482	727	712	427	233
Total Depreciation and Amortization (D&A)	24	24	32	45	64	101	98	69	80	88	97
Debt-free, Cash-free Net Working Capital to Revenue	3.20%	4.28%	98.85%	10.06%	7.75%	12.04%	30.44%	23.14%	28.10%	23.81%	19.80%
Debt-free Net Working Capital to Revenue	49.69%	85.63%	98.85%	61.30%	58.70%	116.82%	102.48%	74.83%	69.60%	69.83%	46.24%
Net Working Capital to Revenue	47.60%	85.63%	98.85%	61.30%	58.70%	115.09%	100.20%	72.73%	66.68%	65.79%	45.56%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($1.29)	$0.00	$0.00	$0.06	$0.19	$0.11	$0.25	$0.07	$2.96	$5.97	$3.51
Adjusted Weighted Average Basic Shares Outstanding	57.02M	57.65M	58.39M	58.86M	60.59M	64.74M	67.70M	69.38M	69.75M	70.08M	70.35M
Adjusted Diluted Earnings per Share	($1.29)	$0.00	$0.00	$0.05	$0.19	$0.10	$0.24	$0.07	$2.94	$5.78	$3.48
Adjusted Weighted Average Diluted Shares Outstanding	57.02M	57.65M	58.39M	61.01M	62.30M	65.95M	68.58M	69.91M	73.63M	73.89M	71.89M
Adjusted Basic & Diluted Earnings per Share	($1.29)	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	56.79M	57.25M	58.00M	59.28M	62.86M	66.08M	69.22M	69.54M	69.93M	70.23M	70.40M
Normalized Net Operating Profit after Tax (NOPAT)	-34	-7.49	-5.18	17	40	36	103	26	211	216	345
Normalized NOPAT Margin	-12.93%	-2.04%	-1.12%	3.08%	5.42%	3.99%	9.40%	2.02%	12.46%	10.44%	12.73%
Pre Tax Income Margin	-23.26%	-7.31%	-5.74%	0.92%	1.96%	1.07%	1.87%	0.75%	12.65%	14.49%	12.54%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-3.83	-0.58	-0.22	1.24	1.40	1.22	1.19	1.01	6.14	7.11	2.66
NOPAT to Interest Expense	-2.68	-0.44	-0.24	0.82	1.10	0.80	0.99	0.49	5.84	10.08	1.88
EBIT Less CapEx to Interest Expense	-4.66	-1.89	-3.61	-6.15	-3.10	-2.48	0.01	-2.76	3.81	3.97	1.51
NOPAT Less CapEx to Interest Expense	-3.52	-1.75	-3.62	-6.57	-3.40	-2.89	-0.19	-3.28	3.52	6.94	0.73
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	24.12%

This table displays calculated financial ratios and metrics derived from Insulet's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	70,395,848.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	70,395,848.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1.29
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	26.97%	37.90%	23.35%	23.20%	25.70%	17.20%	28.82%	32.88%	29.86%	31.16%	33.87%
EBITDA Growth	309.73%	202.58%	66.67%	46.14%	41.95%	3.02%	43.77%	99.19%	41.82%	31.08%	35.11%
EBIT Growth	4,945.45%	333.20%	104.36%	70.87%	52.61%	1.29%	53.91%	132.26%	53.25%	36.07%	41.80%
NOPAT Growth	2,509.02%	469.13%	99.17%	576.45%	55.51%	-3.01%	22.44%	-52.30%	1.94%	7.04%	50.51%
Net Income Growth	1,098.08%	507.65%	116.39%	590.84%	49.33%	-2.52%	-31.26%	-88.07%	13.03%	0.89%	157.34%
EPS Growth	1,025.00%	488.00%	114.71%	564.10%	45.95%	-6.12%	-31.51%	-87.64%	14.81%	2.90%	160.00%
Operating Cash Flow Growth	-1.23%	-10.85%	17,420.00%	119.32%	75.89%	226.77%	-27.17%	126.38%	16.07%	24.27%	78.37%
Free Cash Flow Firm Growth	3.88%	5.54%	-11.95%	39.87%	-6.79%	31.64%	-117.26%	15.27%	129.79%	95.51%	130.02%
Invested Capital Growth	20.65%	20.01%	12.69%	21.96%	20.20%	13.42%	20.96%	10.53%	1.72%	6.73%	1.57%
Revenue Q/Q Growth	9.13%	17.82%	-13.36%	10.60%	11.34%	9.85%	-4.77%	14.08%	8.81%	10.96%	-2.81%
EBITDA Q/Q Growth	50.10%	70.45%	-40.40%	-4.16%	45.80%	23.70%	-16.83%	32.61%	3.95%	14.42%	-14.26%
EBIT Q/Q Growth	79.61%	95.14%	-48.11%	-6.05%	60.42%	29.52%	-21.15%	41.50%	6.05%	15.10%	-17.80%
NOPAT Q/Q Growth	77.79%	92.51%	-47.65%	277.54%	-59.13%	20.07%	-33.91%	46.80%	-12.49%	26.19%	-7.09%
Net Income Q/Q Growth	90.11%	99.04%	-50.15%	266.21%	-58.91%	29.94%	-64.85%	-36.44%	289.33%	15.98%	-10.33%
EPS Q/Q Growth	89.74%	98.65%	-50.34%	254.79%	-58.30%	27.78%	-63.77%	-36.00%	287.50%	14.52%	-8.45%
Operating Cash Flow Q/Q Growth	27.27%	-19.29%	93.81%	10.16%	2.07%	49.95%	-56.80%	207.99%	-36.03%	45.82%	-37.92%
Free Cash Flow Firm Q/Q Growth	-29.54%	21.49%	21.55%	24.64%	-130.06%	49.74%	-149.34%	70.48%	180.54%	-107.56%	1,770.69%
Invested Capital Q/Q Growth	3.94%	7.58%	-0.23%	9.31%	2.44%	1.51%	6.40%	-0.11%	-5.72%	6.50%	1.28%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	67.78%	70.85%	69.46%	67.74%	69.33%	72.12%	71.88%	69.67%	72.22%	72.55%	69.46%
EBITDA Margin	17.52%	25.34%	17.43%	15.11%	19.78%	22.28%	19.46%	22.62%	21.61%	22.28%	19.65%
Operating Margin	12.66%	20.87%	12.88%	11.18%	16.20%	18.29%	15.61%	18.66%	16.66%	18.66%	16.03%
EBIT Margin	12.83%	21.24%	12.72%	10.81%	15.57%	18.36%	15.20%	18.86%	18.38%	19.06%	16.12%
Profit (Net Income) Margin	11.99%	20.26%	11.66%	38.61%	14.25%	16.85%	6.22%	3.47%	12.40%	12.96%	11.96%
Tax Burden Percent	96.65%	95.83%	93.81%	369.08%	93.49%	90.48%	73.60%	79.23%	71.34%	72.47%	80.62%
Interest Burden Percent	96.76%	99.54%	97.69%	96.78%	97.87%	101.46%	55.61%	23.20%	94.61%	93.84%	92.02%
Effective Tax Rate	3.35%	4.17%	6.19%	-269.08%	6.51%	9.52%	26.40%	20.77%	28.66%	27.53%	19.38%
Return on Invested Capital (ROIC)	15.52%	25.64%	15.82%	53.90%	20.32%	22.25%	15.86%	21.03%	18.42%	21.62%	21.34%
ROIC Less NNEP Spread (ROIC-NNEP)	15.37%	25.82%	15.56%	51.93%	19.53%	22.56%	10.23%	3.85%	19.39%	20.31%	19.67%
Return on Net Nonoperating Assets (RNNOA)	21.08%	30.73%	17.16%	43.97%	13.93%	13.21%	5.12%	1.34%	5.83%	4.91%	6.58%
Return on Equity (ROE)	36.60%	56.37%	32.98%	97.87%	34.26%	35.45%	20.99%	22.37%	24.25%	26.53%	27.91%
Cash Return on Invested Capital (CROIC)	-8.34%	-2.21%	5.57%	8.33%	11.02%	15.35%	10.38%	11.43%	19.58%	13.86%	20.05%
Operating Return on Assets (OROA)	8.62%	14.90%	9.22%	7.69%	11.25%	13.40%	10.89%	14.01%	15.31%	16.45%	14.38%
Return on Assets (ROA)	8.06%	14.21%	8.45%	27.45%	10.29%	12.30%	4.46%	2.58%	10.33%	11.18%	10.67%
Return on Common Equity (ROCE)	36.60%	56.37%	32.98%	97.87%	34.26%	35.45%	20.98%	22.36%	24.26%	26.53%	27.91%
Return on Equity Simple (ROE_SIMPLE)	19.75%	0.00%	29.59%	39.59%	37.65%	0.00%	30.22%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	53	102	53	202	82	99	65	96	84	106	98
NOPAT Margin	12.24%	20.00%	12.08%	41.25%	15.14%	16.55%	11.49%	14.78%	11.89%	13.52%	12.92%
Net Nonoperating Expense Percent (NNEP)	0.15%	-0.19%	0.26%	1.97%	0.79%	-0.32%	5.64%	17.18%	-0.97%	1.32%	1.67%
Return On Investment Capital (ROIC_SIMPLE)	-	4.75%	-	-	-	3.82%	2.16%	3.35%	3.50%	4.30%	4.37%
Cost of Revenue to Revenue	32.22%	29.15%	30.54%	32.26%	30.67%	27.88%	28.12%	30.33%	27.78%	27.45%	30.55%
SG&A Expenses to Revenue	41.76%	41.74%	45.21%	45.53%	43.04%	43.68%	45.80%	39.70%	44.63%	42.30%	41.64%
R&D to Revenue	13.36%	8.24%	11.37%	11.03%	10.09%	10.14%	10.47%	11.31%	10.93%	11.60%	11.78%
Operating Expenses to Revenue	55.12%	49.98%	56.58%	56.56%	53.13%	53.82%	56.27%	51.01%	55.56%	53.90%	53.42%
Earnings before Interest and Taxes (EBIT)	56	108	56	53	85	110	87	122	130	149	123
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	76	129	77	74	108	133	111	147	153	175	150
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	18.33	20.68	15.14	14.16	14.60	15.11	13.86	15.12	15.70	13.20	11.34
Price to Tangible Book Value (P/TBV)	24.40	26.02	18.69	16.66	16.88	17.25	15.64	16.90	17.70	14.86	13.01
Price to Revenue (P/Rev)	7.15	8.93	6.72	7.55	8.23	8.84	8.39	9.37	8.62	7.38	5.09
Price to Earnings (P/E)	92.80	73.44	51.15	35.76	38.77	43.78	45.85	93.65	88.27	80.92	48.78
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	1.08%	1.36%	1.96%	2.80%	2.58%	2.28%	2.18%	1.07%	1.13%	1.24%	2.05%
Enterprise Value to Invested Capital (EV/IC)	8.84	10.98	8.76	9.34	10.42	11.44	10.82	12.86	13.40	11.57	8.61
Enterprise Value to Revenue (EV/Rev)	7.62	9.35	7.09	7.86	8.48	9.05	8.57	9.49	8.72	7.47	5.25
Enterprise Value to EBITDA (EV/EBITDA)	55.16	52.58	37.95	41.35	43.38	47.87	44.34	44.93	40.47	34.60	24.44
Enterprise Value to EBIT (EV/EBIT)	85.46	71.39	50.29	53.93	55.68	61.76	56.50	55.50	49.03	41.44	29.07
Enterprise Value to NOPAT (EV/NOPAT)	93.15	75.00	53.00	36.50	38.74	43.54	40.36	63.01	63.48	58.66	40.14
Enterprise Value to Operating Cash Flow (EV/OCF)	78.51	108.87	54.20	51.56	51.30	43.55	46.38	43.37	41.21	35.53	24.61
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	166.46	123.22	103.23	79.19	114.15	118.13	69.00	86.21	43.26
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.34	1.93	1.77	1.40	1.25	1.14	1.27	0.96	0.73	0.63	0.73
Long-Term Debt to Equity	2.26	1.86	1.72	1.36	1.21	1.07	1.21	0.64	0.68	0.61	0.71
Financial Leverage	1.37	1.19	1.10	0.85	0.71	0.59	0.50	0.35	0.30	0.24	0.33
Leverage Ratio	4.48	4.00	3.80	3.39	3.18	2.92	2.89	2.58	2.42	2.30	2.47
Compound Leverage Factor	4.33	3.98	3.71	3.28	3.12	2.96	1.61	0.60	2.29	2.16	2.27
Debt to Total Capital	70.04%	65.90%	63.93%	58.33%	55.57%	53.25%	56.03%	48.90%	42.30%	38.52%	42.12%
Short-Term Debt to Total Capital	2.46%	2.30%	1.77%	1.58%	1.67%	3.23%	2.75%	16.09%	3.33%	0.75%	0.83%
Long-Term Debt to Total Capital	67.59%	63.60%	62.16%	56.75%	53.90%	50.01%	53.28%	32.80%	38.97%	37.77%	41.30%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	29.96%	34.10%	36.07%	41.67%	44.43%	46.75%	43.97%	51.08%	57.71%	61.46%	57.88%
Debt to EBITDA	6.60	4.69	4.22	3.93	3.61	3.52	3.99	2.81	1.87	1.62	1.52
Net Debt to EBITDA	3.42	2.36	1.96	1.62	1.28	1.09	0.97	0.56	0.47	0.40	0.75
Long-Term Debt to EBITDA	6.37	4.53	4.10	3.82	3.50	3.31	3.79	1.88	1.72	1.59	1.49
Debt to NOPAT	11.15	6.69	5.89	3.47	3.22	3.21	3.63	3.94	2.93	2.75	2.50
Net Debt to NOPAT	5.77	3.36	2.73	1.43	1.14	0.99	0.88	0.78	0.74	0.68	1.23
Long-Term Debt to NOPAT	10.76	6.46	5.72	3.37	3.12	3.01	3.45	2.64	2.70	2.70	2.45
Altman Z-Score	4.52	6.01	5.03	5.67	6.39	7.19	6.41	7.89	9.47	8.76	6.96
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.03%	-0.01%	0.03%	0.01%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.26	3.51	3.74	3.60	3.68	3.58	4.47	2.26	2.87	2.81	2.49
Quick Ratio	2.12	2.36	2.48	2.41	2.53	2.50	3.24	1.55	1.88	1.81	1.49
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-177	-139	-109	-82	-189	-95	-237	-70	56	-4.25	71
Operating Cash Flow to CapEx	250.00%	143.04%	365.00%	387.55%	338.49%	263.75%	406.37%	846.98%	404.18%	130.18%	409.35%
Free Cash Flow to Firm to Interest Expense	-17.00	-20.72	-10.18	-7.46	-15.35	-10.91	-4.86	-0.67	3.61	-0.28	4.83
Operating Cash Flow to Interest Expense	5.38	6.75	8.19	8.77	8.01	16.98	1.31	1.89	8.06	12.22	7.74
Operating Cash Flow Less CapEx to Interest Expense	3.23	2.03	5.94	6.51	5.64	10.54	0.99	1.67	6.06	2.83	5.85
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.67	0.70	0.72	0.71	0.72	0.73	0.72	0.74	0.83	0.86	0.89
Accounts Receivable Turnover	6.60	6.00	6.62	6.25	6.14	5.71	6.08	5.95	6.02	6.14	6.13
Inventory Turnover	1.47	1.43	1.36	1.38	1.42	1.50	1.49	1.57	1.62	1.74	1.86
Fixed Asset Turnover	2.59	2.68	2.82	2.93	2.93	2.99	3.17	3.37	3.53	3.51	3.75
Accounts Payable Turnover	7.73	21.49	6.85	6.30	10.29	32.10	9.75	7.99	16.26	16.21	8.11
Days Sales Outstanding (DSO)	55.29	60.79	55.11	58.38	59.42	63.89	59.99	61.34	60.63	59.47	59.58
Days Inventory Outstanding (DIO)	249.09	254.59	268.80	264.77	256.89	242.89	244.29	232.07	225.99	209.77	196.02
Days Payable Outstanding (DPO)	47.19	16.99	53.25	57.94	35.46	11.37	37.43	45.71	22.44	22.52	45.01
Cash Conversion Cycle (CCC)	257.19	298.39	270.65	265.22	280.85	295.40	266.85	247.70	264.18	246.72	210.59
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,343	1,444	1,441	1,575	1,614	1,638	1,743	1,741	1,641	1,748	1,770
Invested Capital Turnover	1.27	1.28	1.31	1.31	1.34	1.34	1.38	1.42	1.55	1.60	1.65
Increase / (Decrease) in Invested Capital	230	241	162	284	271	194	302	166	28	110	27
Enterprise Value (EV)	11,871	15,863	12,619	14,711	16,815	18,739	18,854	22,388	21,990	20,229	15,240
Market Capitalization	11,136	15,151	11,968	14,134	16,319	18,313	18,442	22,110	21,732	19,995	14,772
Book Value per Share	$8.70	$10.49	$11.30	$14.25	$15.95	$17.27	$18.95	$20.78	$19.67	$21.53	$18.50
Tangible Book Value per Share	$6.54	$8.34	$9.16	$12.11	$13.79	$15.13	$16.79	$18.59	$17.44	$19.13	$16.13
Total Capital	2,028	2,149	2,192	2,396	2,516	2,592	3,026	2,863	2,399	2,464	2,251
Total Debt	1,420	1,416	1,402	1,398	1,398	1,380	1,695	1,400	1,015	949	948
Total Long-Term Debt	1,371	1,366	1,363	1,360	1,356	1,296	1,612	939	935	931	930
Net Debt	735	712	650	577	496	427	412	278	257	233	468
Capital Expenditures (CapEx)	22	32	24	25	29	56	16	23	31	141	28
Debt-free, Cash-free Net Working Capital (DFCFNWC)	384	477	474	480	494	493	608	609	534	536	560
Debt-free Net Working Capital (DFNWC)	1,070	1,181	1,225	1,301	1,397	1,447	1,891	1,730	1,292	1,252	1,041
Net Working Capital (NWC)	1,020	1,132	1,186	1,263	1,355	1,363	1,808	1,270	1,212	1,234	1,022
Net Nonoperating Expense (NNE)	1.06	-1.34	1.88	13	4.86	-1.81	30	73	-3.64	4.35	7.34
Net Nonoperating Obligations (NNO)	735	712	650	577	496	427	412	278	257	233	468
Total Depreciation and Amortization (D&A)	20	21	21	21	23	23	24	24	23	25	27
Debt-free, Cash-free Net Working Capital to Revenue	24.67%	28.10%	26.60%	25.62%	24.91%	23.81%	27.65%	25.80%	21.18%	19.80%	19.31%
Debt-free Net Working Capital to Revenue	68.69%	69.60%	68.79%	69.46%	70.40%	69.83%	86.00%	73.33%	51.22%	46.24%	35.87%
Net Working Capital to Revenue	65.49%	66.68%	66.60%	67.43%	68.28%	65.79%	82.22%	53.81%	48.05%	45.56%	35.23%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.74	$1.49	$0.74	$2.69	$1.11	$1.43	$0.50	$0.32	$1.24	$1.45	$1.30
Adjusted Weighted Average Basic Shares Outstanding	69.82M	69.75M	69.96M	70.06M	70.12M	70.08M	70.27M	70.39M	70.37M	70.35M	69.99M
Adjusted Diluted Earnings per Share	$0.74	$1.47	$0.73	$2.59	$1.08	$1.38	$0.50	$0.32	$1.24	$1.42	$1.30
Adjusted Weighted Average Diluted Shares Outstanding	73.62M	73.63M	73.74M	73.80M	73.95M	73.89M	74.11M	70.65M	70.66M	71.89M	70.20M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	69.83M	69.93M	70.04M	70.12M	70.14M	70.23M	70.37M	70.39M	70.35M	70.40M	69.26M
Normalized Net Operating Profit after Tax (NOPAT)	53	102	53	38	82	99	65	96	84	106	98
Normalized NOPAT Margin	12.24%	20.00%	12.08%	7.82%	15.14%	16.55%	11.49%	14.78%	11.89%	13.52%	12.92%
Pre Tax Income Margin	12.41%	21.15%	12.43%	10.46%	15.24%	18.63%	8.45%	4.38%	17.39%	17.89%	14.84%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	5.34	16.16	5.25	4.80	6.89	12.61	1.78	1.18	8.32	9.96	8.35
NOPAT to Interest Expense	5.09	15.22	4.99	18.32	6.70	11.37	1.34	0.92	5.38	7.06	6.70
EBIT Less CapEx to Interest Expense	3.18	11.45	3.01	2.54	4.52	6.17	1.45	0.95	6.33	0.57	6.46
NOPAT Less CapEx to Interest Expense	2.94	10.50	2.75	16.06	4.33	4.93	1.02	0.70	3.39	-2.32	4.81
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	24.12%	118.76%

Financials Breakdown Chart

Key Financial Trends

Here are the key takeaways from Insulet Corporation's latest quarterly results and the trend over the last four years, focused on revenue, margins, cash flow, and leverage. The items are organized to highlight potential positives first, then neutral observations, followed by risks.

Revenue growth in 2025: Q4 2025 operating revenue reached $783.7 million, up from $706.3 million in Q3 2025 and $649.1 million in Q2 2025, signaling sustained top-line momentum.
Gross margin remained robust: Q4 2025 gross profit was $568.6 million on $783.7 million revenue, implying a gross margin around 72% across the period, with a consistent high-margin profile.
Net income growth in Q4 2025: Net income continuing operations was $101.6 million, modestly higher than Q4 2024, supporting ongoing profitability.
Solid operating cash flow: Net cash from continuing operating activities was about $183.3 million in Q4 2025, highlighting strong cash generation from core operations.
Debt level remains manageable and stable: Long-term debt sits around $0.93–0.94 billion in 2025, suggesting conservative leverage relative to earnings scale.

Liquidity and liquidity timing: Cash and cash equivalents fluctuated across 2025 (e.g., about $1.12 billion in Q2 2025 versus roughly $0.76 billion in Q4 2025), indicating quarterly variability in cash balances but no clear liquidity crisis.
Capex activity ongoing: Purchase of property, plant & equipment varied by quarter (roughly tens to low hundreds of millions), indicating ongoing investment in infrastructure and manufacturing capacity.

Financing outflows in several quarters: Net cash from financing activities was negative in many 2025 quarters (e.g., large outflows in Q3 2025 and noticeable outflows in Q4 2025), signaling cash used for debt repayment and other financing uses rather than new equity or debt inflows.
Expense intensity may pressure margins if growth slows: In Q4 2025, total operating expenses were $422.4 million on $783.7 million of revenue (SG&A $331.5M + R&D $90.9M). This represents a substantial expense base relative to revenue, which could compress margins if top-line growth moderates.

05/25/26 06:59 PM ETAI Generated. May Contain Errors.

Insulet Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Insulet's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Insulet's net income appears to be on an upward trend, with a most recent value of $247.10 million in 2025, falling from -$73.52 million in 2015. The previous period was $418.30 million in 2024. Find out what analysts predict for Insulet in the coming months.

Insulet's total operating income in 2025 was $473.80 million, based on the following breakdown:

Total Gross Profit: $1.94 billion
Total Operating Expenses: $1.47 billion

Over the last 10 years, Insulet's total revenue changed from $263.89 million in 2015 to $2.71 billion in 2025, a change of 926.2%.

Insulet's total liabilities were at $1.68 billion at the end of 2025, a 10.7% decrease from 2024, and a 594.9% increase since 2015.

In the past 10 years, Insulet's cash and equivalents has ranged from $113.90 million in 2018 to $953.40 million in 2024, and is currently $716.10 million as of their latest financial filing in 2025.

Over the last 10 years, Insulet's book value per share changed from 0.60 in 2015 to 21.53 in 2025, a change of 3,499.6%.

Related Companies

Financial statements for NASDAQ:PODD last updated on 5/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Insulet (PODD) Financials

Financials Breakdown Chart

Key Financial Trends

Insulet Financials - Frequently Asked Questions

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Insulet (PODD) Financials

Annual Income Statements for Insulet

Quarterly Income Statements for Insulet

Annual Cash Flow Statements for Insulet

Quarterly Cash Flow Statements for Insulet

Annual Balance Sheets for Insulet

Quarterly Balance Sheets for Insulet

Annual Metrics And Ratios for Insulet

Quarterly Metrics And Ratios for Insulet

Financials Breakdown Chart

Key Financial Trends

Insulet Financials - Frequently Asked Questions

When does Insulet's fiscal year end?

How has Insulet's net income changed over the last 10 years?

What is Insulet's operating income?

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