ResMed (RMD) Financials

$281.54 -9.90 (-3.40%)

As of 10:49 AM Eastern

Annual Income Statements for ResMed

This table shows ResMed'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
Period end date	6/30/2015	6/30/2016	6/30/2017	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024
Net Income / (Loss) Attributable to Common Shareholders	353	352	342	316	405	622	475	779	898	1,021
Consolidated Net Income / (Loss)	353	352	342	316	405	622	475	779	898	1,021
Net Income / (Loss) Continuing Operations	353	352	342	316	405	622	475	779	898	1,021
Total Pre-Tax Income	436	440	419	521	519	733	884	960	1,102	1,265
Total Operating Income	409	429	426	542	579	810	904	1,000	1,132	1,320
Total Gross Profit	1,011	1,066	1,202	1,335	1,494	1,718	1,839	2,024	2,356	2,655
Total Revenue	1,679	1,839	2,067	2,340	2,607	2,957	3,197	3,578	4,223	4,685
Operating Revenue	1,679	1,839	2,067	2,340	2,607	2,957	3,197	3,578	4,223	4,685
Total Cost of Revenue	668	772	865	1,005	1,113	1,239	1,358	1,554	1,867	2,030
Operating Cost of Revenue	668	772	865	1,005	1,113	1,239	1,358	1,554	1,867	2,030
Total Operating Expenses	602	638	776	793	915	908	935	1,024	1,224	1,335
Selling, General & Admin Expense	479	488	554	600	645	677	670	738	874	917
Research & Development Expense	115	119	144	155	181	202	225	254	288	308
Amortization Expense	8.67	24	47	19	32	30	31	31	42	47
Restructuring Charge	0.00	6.91	22	18	9.40	0.00	8.67	1.86	20	64
Total Other Income / (Expense), net	27	11	-7.06	-21	-60	-77	-20	-40	-30	-55
Interest & Investment Income	26	17	17	16	-14	-25	-11	-31	-55	-48
Other Income / (Expense), net	6.25	4.96	4.10	-8.54	-11	-12	15	-9.01	24	-7.54
Income Tax Expense	83	87	76	206	114	111	409	181	204	244
Basic Earnings per Share	$2.51	$2.51	$2.42	$2.21	$2.83	$4.31	$3.27	$5.34	$6.12	$6.94
Weighted Average Basic Shares Outstanding	140.47M	140.24M	141.36M	142.76M	143.11M	144.34M	145.31M	146.07M	146.77M	147.02M
Diluted Earnings per Share	$2.47	$2.49	$2.40	$2.19	$2.80	$4.27	$3.24	$5.30	$6.09	$6.92
Weighted Average Diluted Shares Outstanding	142.69M	141.67M	142.45M	143.99M	144.48M	145.65M	146.45M	147.04M	147.46M	147.55M
Weighted Average Basic & Diluted Shares Outstanding	140.60M	140.40M	141.40M	142.80M	143M	144.90M	145.68K	146.42M	147.07M	146.93M
Cash Dividends to Common per Share	$1.12	$1.20	$1.32	$1.40	$1.48	$1.56	$1.56	$1.68	$1.76	$1.92

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

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	210	225	233	230	219	209	300	292	311	345	365
Consolidated Net Income / (Loss)	210	225	233	230	219	209	300	292	311	345	365
Net Income / (Loss) Continuing Operations	210	225	233	230	219	209	300	292	311	345	365
Total Pre-Tax Income	262	274	289	277	272	259	375	358	383	418	418
Total Operating Income	276	280	301	275	289	275	375	381	387	417	426
Total Gross Profit	541	580	618	617	600	647	693	716	717	751	766
Total Revenue	950	1,034	1,117	1,122	1,102	1,163	1,197	1,223	1,225	1,282	1,292
Total Cost of Revenue	409	454	499	505	502	516	504	508	507	531	525
Operating Cost of Revenue	409	454	499	505	502	516	504	508	507	531	525
Total Operating Expenses	265	300	317	342	311	372	318	334	330	334	340
Selling, General & Admin Expense	194	212	228	240	223	222	230	242	239	242	245
Research & Development Expense	63	70	76	78	76	74	77	81	80	81	84
Amortization Expense	7.95	9.56	12	12	12	12	11	11	11	11	11
Total Other Income / (Expense), net	-14	-6.50	-11	1.54	-17	-16	0.84	-23	-3.82	1.08	-8.58
Interest & Investment Income	-2.03	-2.83	-0.18	-50	-19	-13	0.44	-45	0.96	1.08	0.34
Other Income / (Expense), net	-4.78	6.66	3.85	19	2.05	-2.57	11	-18	-3.12	0.78	-9.70
Income Tax Expense	51	49	57	47	53	51	75	65	72	74	53
Basic Earnings per Share	$1.44	$1.53	$1.58	$1.57	$1.49	$1.42	$2.04	$1.99	$2.12	$2.35	$2.49
Weighted Average Basic Shares Outstanding	146.43M	146.70M	146.91M	146.77M	147.08M	147.13M	146.96M	147.02M	146.86M	146.81M	146.72M
Diluted Earnings per Share	$1.43	$1.53	$1.58	$1.55	$1.49	$1.42	$2.04	$1.97	$2.11	$2.34	$2.48
Weighted Average Diluted Shares Outstanding	147.13M	147.41M	147.40M	147.46M	147.49M	147.55M	147.45M	147.55M	147.60M	147.48M	147.22M
Weighted Average Basic & Diluted Shares Outstanding	146.48M	146.91M	146.93M	147.07M	147.09M	147.09M	146.91M	146.93M	146.80M	146.87M	146.63M
Cash Dividends to Common per Share	$0.44	$0.44	$0.44	$0.44	$0.48	$0.48	$0.48	$0.48	$0.53	$0.53	$0.53

This table details how cash moves in and out of ResMed'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
Period end date	6/30/2015	6/30/2016	6/30/2017	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024
Net Change in Cash & Equivalents	-163	14	91	-633	-42	316	-168	-22	-46	10
Net Cash From Operating Activities	409	548	414	505	459	802	737	351	693	1,401
Net Cash From Continuing Operating Activities	409	548	414	505	459	802	737	351	693	1,401
Net Income / (Loss) Continuing Operations	353	352	342	316	405	622	475	779	898	1,021
Consolidated Net Income / (Loss)	353	352	342	316	405	622	475	779	898	1,021
Depreciation Expense	73	87	112	120	151	155	157	160	165	177
Amortization Expense	-	-	-	0.00	0.00	27	35	34	32	39
Non-Cash Adjustments To Reconcile Net Income	48	50	39	60	81	97	69	86	60	119
Changes in Operating Assets and Liabilities, net	-65	59	-80	9.47	-177	-98	1.41	-708	-462	45
Net Cash From Investing Activities	-143	-1,126	-82	-102	-1,076	-180	-158	-230	-1,160	-270
Net Cash From Continuing Investing Activities	-143	-1,126	-82	-102	-1,076	-180	-158	-230	-1,160	-270
Purchase of Property, Plant & Equipment	-63	-59	-62	-63	-69	-95	-103	-135	-120	-99
Acquisitions	-39	-1,051	-17	-9.78	-960	-39	-53	-64	-1,027	-149
Purchase of Investments	-42	-8.97	-6.46	-29	-47	-32	-22	-21	-32	-13
Sale and/or Maturity of Investments	-	-7.10	3.32	-	-	-14	19	-10	19	-8.70
Net Cash From Financing Activities	-256	613	-263	-1,027	581	-317	-765	-128	423	-1,119
Net Cash From Continuing Financing Activities	-256	613	-263	-1,027	581	-317	-765	-128	423	-1,119
Repayment of Debt	-182	-284	-545	-1,146	-712	-1,284	-612	-166	-405	-835
Repurchase of Common Equity	-160	-102	-	-54	-23	-	-	0.00	0.00	-150
Payment of Dividends	-158	-169	-198	-200	-213	-225	-230	-245	-261	-284
Issuance of Debt	180	1,140	450	350	1,519	1,190	90	288	1,070	105
Issuance of Common Equity	39	28	38	39	37	48	38	47	49	53
Other Financing Activities, net	25	-	-8.16	-15	-28	-46	-50	-52	-31	-8.76
Effect of Exchange Rate Changes	-173	-21	21	-9.74	-5.56	11	18	-14	-2.15	-1.72
Cash Interest Paid	-	11	28	28	36	40	24	22	47	46
Cash Income Taxes Paid	49	69	93	171	243	180	221	478	217	278

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

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	-67	46	-25	-0.00	-19	1.15	28	0.45	188	96	411
Net Cash From Operating Activities	45	129	283	237	286	273	402	440	326	309	579
Net Cash From Continuing Operating Activities	45	129	283	237	286	273	402	440	326	309	579
Net Income / (Loss) Continuing Operations	210	225	233	230	219	209	300	292	311	345	365
Consolidated Net Income / (Loss)	210	225	233	230	219	209	300	292	311	345	365
Depreciation Expense	36	38	44	47	45	45	43	44	45	46	44
Amortization Expense	7.76	7.77	8.43	8.44	8.51	8.59	11	11	8.98	9.46	8.24
Non-Cash Adjustments To Reconcile Net Income	22	11	12	16	23	54	6.08	36	20	23	29
Changes in Operating Assets and Liabilities, net	-232	-153	-14	-63	-9.59	-44	41	57	-59	-115	132
Net Cash From Investing Activities	-59	-1,026	-28	-47	-149	-41	-33	-47	2.15	-37	-32
Net Cash From Continuing Investing Activities	-59	-1,026	-28	-47	-149	-41	-33	-47	2.15	-37	-32
Purchase of Property, Plant & Equipment	-29	-27	-29	-34	-30	-23	-21	-25	-18	-21	-21
Acquisitions	-22	-996	-2.41	-5.81	-114	-8.71	-5.00	-21	-1.77	-3.50	-2.99
Purchase of Investments	-4.29	-13	-13	-2.50	-3.68	-3.63	-2.39	-3.07	18	-20	-2.05
Sale and/or Maturity of Investments	-3.04	10	16	-3.77	-1.25	-5.46	-4.58	2.58	4.13	7.42	-5.95
Net Cash From Financing Activities	-42	933	-280	-189	-151	-239	-336	-393	-151	-148	-144
Net Cash From Continuing Financing Activities	-42	933	-280	-189	-151	-239	-336	-393	-151	-148	-144
Repurchase of Common Equity	-	-	-	-	0.00	-50	-50	-50	-50	-75	-75
Payment of Dividends	-64	-65	-65	-67	-72	-71	-70	-72	-79	-78	-78
Issuance of Common Equity	2.61	22	0.98	23	0.98	20	4.89	28	8.38	27	9.02
Other Financing Activities, net	-0.06	-30	-0.90	-0.02	-0.23	-7.80	-0.31	0.87	-0.39	-17	-0.36
Effect of Exchange Rate Changes	-11	11	-0.21	-2.33	-4.96	8.42	-5.30	0.13	11	-29	7.96
Cash Interest Paid	7.13	10	15	15	15	14	11	5.92	7.35	-0.07	14
Cash Income Taxes Paid	53	55	38	71	77	97	62	43	106	119	-27

This table presents ResMed'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
Period end date	6/30/2015	6/30/2016	6/30/2017	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024
Total Assets	2,182	3,257	3,468	3,064	4,108	4,587	4,728	5,096	6,752	6,872
Total Current Assets	1,408	1,420	1,644	1,066	1,145	1,523	1,575	1,931	2,368	2,358
Cash & Equivalents	717	731	822	189	147	463	295	274	228	238
Accounts Receivable	363	382	451	484	528	475	614	576	705	837
Inventories, net	247	224	268	269	350	417	457	744	998	822
Prepaid Expenses	81	82	103	125	120	75	208	338	437	460
Plant, Property, & Equipment, net	388	384	394	387	387	417	463	498	538	548
Total Noncurrent Assets	386	1,453	1,430	1,612	2,575	2,647	2,690	2,666	3,846	3,967
Goodwill	264	1,059	1,065	1,069	1,856	1,890	1,928	1,936	2,770	2,842
Intangible Assets	47	300	262	215	522	448	393	346	552	486
Noncurrent Deferred & Refundable Income Taxes	46	55	62	54	45	41	80	80	133	204
Other Noncurrent Operating Assets	28	38	42	274	151	267	289	304	390	435
Total Liabilities & Shareholders' Equity	2,182	3,257	3,468	3,064	4,108	4,587	4,728	5,096	6,752	6,872
Total Liabilities	594	1,562	1,508	1,005	2,035	2,090	1,842	1,735	2,622	2,008
Total Current Liabilities	266	638	360	511	556	603	912	689	759	911
Short-Term Debt	-	299	-	11	12	12	12	9.92	9.90	9.90
Accounts Payable	81	93	93	93	116	136	138	159	151	238
Accrued Expenses	133	157	186	186	266	270	321	345	366	378
Current Deferred Revenue	36	50	52	61	89	99	110	109	138	153
Current Deferred & Payable Income Tax Liabilities	16	39	29	160	73	65	308	45	72	108
Other Current Liabilities	-	-	-	-	0.00	21	24	22	22	25
Total Noncurrent Liabilities	328	924	1,148	494	1,479	1,488	931	1,046	1,863	1,098
Long-Term Debt	301	873	1,079	270	1,259	1,164	643	765	1,431	697
Noncurrent Deferred Revenue	21	40	53	210	207	200	154	144	156	137
Noncurrent Deferred & Payable Income Tax Liabilities	6.37	9.06	14	13	11	13	11	9.71	91	79
Other Noncurrent Operating Liabilities	0.00	1.21	2.43	0.92	2.06	110	122	126	185	184
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,587	1,695	1,960	2,059	2,072	2,497	2,886	3,361	4,130	4,864
Total Preferred & Common Equity	1,587	1,695	1,960	2,059	2,072	2,497	2,886	3,361	4,130	4,864
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,587	1,695	1,960	2,059	2,072	2,497	2,886	3,361	4,130	4,864
Common Stock	1,229	1,304	1,380	1,451	1,512	1,571	1,623	1,683	1,773	1,897
Retained Earnings	1,976	2,160	2,316	2,432	2,436	2,833	3,080	3,614	4,253	4,992
Treasury Stock	-1,445	-1,547	-1,547	-1,600	-1,623	-1,623	-1,623	-1,623	-1,623	-1,773
Accumulated Other Comprehensive Income / (Loss)	-174	-223	-189	-224	-253	-284	-193	-313	-273	-252

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

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Total Assets	5,178	6,676	6,714	6,752	6,741	6,905	6,815	6,872	7,222	7,141	7,567
Total Current Assets	2,034	2,325	2,338	2,368	2,305	2,378	2,351	2,358	2,641	2,836	3,208
Cash & Equivalents	207	253	228	228	209	210	238	238	426	522	933
Accounts Receivable	620	672	686	705	692	730	779	837	811	860	908
Inventories, net	865	989	1,011	998	958	933	829	822	918	882	863
Prepaid Expenses	341	411	412	437	445	505	505	460	486	572	505
Plant, Property, & Equipment, net	487	523	529	538	534	552	540	548	560	520	535
Total Noncurrent Assets	2,656	3,828	3,847	3,846	3,902	3,975	3,924	3,967	4,021	3,785	3,823
Goodwill	1,939	2,767	2,784	2,770	2,812	2,862	2,836	2,842	2,886	2,805	2,849
Intangible Assets	338	587	570	552	563	528	501	486	479	438	430
Noncurrent Deferred & Refundable Income Taxes	81	86	96	133	138	156	162	204	221	209	217
Other Noncurrent Operating Assets	299	388	398	390	389	429	424	435	436	332	327
Total Liabilities & Shareholders' Equity	5,178	6,676	6,714	6,752	6,741	6,905	6,815	6,872	7,222	7,141	7,567
Total Liabilities	1,745	2,938	2,781	2,622	2,490	2,423	2,185	2,008	2,027	1,888	2,021
Total Current Liabilities	693	733	762	759	771	764	773	911	904	852	941
Short-Term Debt	9.91	9.90	9.90	9.90	9.91	9.90	9.90	9.90	9.90	9.91	9.91
Accounts Payable	181	196	162	151	177	202	177	238	249	220	223
Accrued Expenses	324	312	347	366	348	332	356	378	366	353	386
Current Deferred Revenue	108	134	141	138	147	149	151	153	157	157	160
Current Deferred & Payable Income Tax Liabilities	48	58	78	72	67	47	55	108	94	85	133
Other Current Liabilities	21	22	23	22	22	24	24	25	28	28	29
Total Noncurrent Liabilities	1,052	2,205	2,020	1,863	1,720	1,659	1,412	1,098	1,123	1,036	1,080
Long-Term Debt	785	1,791	1,576	1,431	1,352	1,217	997	697	668	663	663
Noncurrent Deferred Revenue	135	140	146	156	134	140	144	137	144	147	151
Noncurrent Deferred & Payable Income Tax Liabilities	12	108	113	91	88	89	87	79	84	77	79
Other Noncurrent Operating Liabilities	120	167	185	185	147	214	184	184	228	150	187
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	3,433	3,738	3,933	4,130	4,250	4,482	4,630	4,864	5,195	5,253	5,546
Total Preferred & Common Equity	3,433	3,738	3,933	4,130	4,250	4,482	4,630	4,864	5,195	5,253	5,546
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	3,433	3,738	3,933	4,130	4,250	4,482	4,630	4,864	5,195	5,253	5,546
Common Stock	1,702	1,711	1,730	1,773	1,792	1,824	1,849	1,897	1,925	1,958	1,991
Retained Earnings	3,760	3,920	4,088	4,253	4,402	4,540	4,770	4,992	5,225	5,492	5,779
Treasury Stock	-1,623	-1,623	-1,623	-1,623	-1,623	-1,673	-1,723	-1,773	-1,823	-1,898	-1,973
Accumulated Other Comprehensive Income / (Loss)	-406	-270	-262	-273	-320	-208	-265	-252	-132	-299	-251

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	6/30/2015	6/30/2016	6/30/2017	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.97%	9.52%	12.40%	13.23%	11.38%	13.44%	8.11%	11.93%	18.02%	10.95%
EBITDA Growth	1.90%	6.59%	4.09%	20.51%	10.12%	36.08%	13.40%	6.77%	14.24%	12.90%
EBIT Growth	2.34%	4.43%	-0.93%	24.05%	6.61%	40.27%	15.17%	7.92%	16.65%	13.50%
NOPAT Growth	2.11%	3.81%	1.21%	-5.76%	37.71%	52.00%	-29.33%	67.28%	13.60%	15.53%
Net Income Growth	2.20%	-0.14%	-2.87%	-7.80%	28.20%	53.65%	-23.67%	64.26%	15.15%	13.75%
EPS Growth	3.35%	0.81%	-3.61%	-8.75%	27.85%	52.50%	-24.12%	63.58%	14.91%	13.63%
Operating Cash Flow Growth	0.31%	34.02%	-24.43%	21.97%	-9.10%	74.76%	-8.17%	-52.34%	97.44%	102.11%
Free Cash Flow Firm Growth	52.10%	-298.00%	143.00%	47.12%	-250.67%	213.51%	-33.16%	-56.57%	-386.21%	292.53%
Invested Capital Growth	1.50%	82.48%	3.78%	-2.94%	48.53%	0.44%	1.11%	19.00%	38.34%	-0.19%
Revenue Q/Q Growth	2.31%	3.70%	1.88%	2.94%	3.22%	2.26%	3.42%	1.09%	5.16%	2.21%
EBITDA Q/Q Growth	-0.68%	6.03%	1.17%	3.54%	-2.48%	15.99%	1.74%	-0.02%	4.47%	4.68%
EBIT Q/Q Growth	-0.30%	4.92%	1.21%	3.65%	-4.89%	16.43%	2.09%	0.04%	4.31%	5.53%
NOPAT Q/Q Growth	0.76%	0.25%	6.84%	2.56%	-5.51%	16.76%	2.68%	1.51%	2.15%	8.42%
Net Income Q/Q Growth	-0.08%	-1.22%	5.71%	2.67%	-9.20%	21.27%	3.78%	-0.01%	4.01%	6.53%
EPS Q/Q Growth	0.41%	-0.80%	4.80%	2.82%	-9.09%	20.96%	3.51%	-0.19%	3.92%	6.46%
Operating Cash Flow Q/Q Growth	-3.90%	8.43%	-1.48%	-2.11%	2.78%	30.70%	-12.34%	-29.51%	29.50%	16.91%
Free Cash Flow Firm Q/Q Growth	-9.37%	-848.63%	155.72%	14.60%	-5.84%	29.79%	-17.27%	-22.41%	11.31%	23.04%
Invested Capital Q/Q Growth	3.55%	53.62%	0.95%	-0.96%	-0.45%	-2.15%	1.13%	2.78%	1.00%	-1.22%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	60.24%	58.00%	58.15%	57.04%	57.32%	58.09%	57.53%	56.57%	55.78%	56.67%
EBITDA Margin	29.10%	28.32%	26.23%	27.91%	27.60%	33.10%	34.72%	33.12%	32.06%	32.62%
Operating Margin	24.38%	23.33%	20.60%	23.15%	22.22%	27.38%	28.27%	27.96%	26.80%	28.17%
EBIT Margin	24.75%	23.60%	20.80%	22.79%	21.81%	26.97%	28.73%	27.70%	27.38%	28.01%
Profit (Net Income) Margin	21.02%	19.17%	16.56%	13.49%	15.52%	21.02%	14.84%	21.78%	21.25%	21.79%
Tax Burden Percent	80.95%	80.17%	81.74%	60.54%	77.98%	84.80%	53.70%	81.15%	81.47%	80.72%
Interest Burden Percent	104.92%	101.30%	97.41%	97.75%	91.26%	91.92%	96.21%	96.89%	95.27%	96.38%
Effective Tax Rate	19.05%	19.83%	18.26%	39.46%	22.02%	15.20%	46.30%	18.85%	18.53%	19.28%
Return on Invested Capital (ROIC)	28.51%	20.80%	15.99%	15.02%	16.89%	21.44%	15.03%	22.84%	20.04%	19.96%
ROIC Less NNEP Spread (ROIC-NNEP)	24.28%	89.76%	14.34%	7.91%	9.15%	14.37%	13.03%	15.34%	17.16%	14.67%
Return on Net Nonoperating Assets (RNNOA)	-7.41%	0.67%	2.74%	0.69%	2.69%	5.77%	2.60%	2.12%	3.93%	2.74%
Return on Equity (ROE)	21.10%	21.47%	18.73%	15.70%	19.59%	27.21%	17.63%	24.96%	23.96%	22.70%
Cash Return on Invested Capital (CROIC)	27.02%	-37.60%	12.28%	18.00%	-22.16%	21.00%	13.93%	5.49%	-12.14%	20.15%
Operating Return on Assets (OROA)	18.29%	15.96%	12.78%	16.33%	15.86%	18.34%	19.72%	20.18%	19.52%	19.27%
Return on Assets (ROA)	15.54%	12.96%	10.18%	9.66%	11.28%	14.30%	10.19%	15.87%	15.15%	14.99%
Return on Common Equity (ROCE)	21.10%	21.47%	18.73%	15.70%	19.59%	27.21%	17.63%	24.96%	23.96%	22.70%
Return on Equity Simple (ROE_SIMPLE)	22.23%	20.79%	17.46%	15.33%	19.52%	24.90%	16.44%	23.19%	21.73%	20.99%
Net Operating Profit after Tax (NOPAT)	331	344	348	328	452	687	485	812	922	1,065
NOPAT Margin	19.73%	18.70%	16.84%	14.02%	17.33%	23.22%	15.18%	22.69%	21.84%	22.74%
Net Nonoperating Expense Percent (NNEP)	4.23%	-68.96%	1.65%	7.11%	7.75%	7.07%	2.00%	7.50%	2.87%	5.29%
Cost of Revenue to Revenue	39.76%	42.00%	41.85%	42.96%	42.68%	41.91%	42.47%	43.43%	44.22%	43.33%
SG&A Expenses to Revenue	28.51%	26.54%	26.80%	25.65%	24.75%	22.88%	20.97%	20.61%	20.70%	19.57%
R&D to Revenue	6.84%	6.45%	6.99%	6.63%	6.93%	6.83%	7.05%	7.09%	6.81%	6.56%
Operating Expenses to Revenue	35.87%	34.67%	37.54%	33.89%	35.10%	30.71%	29.26%	28.62%	28.98%	28.50%
Earnings before Interest and Taxes (EBIT)	415	434	430	533	569	798	918	991	1,156	1,312
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	489	521	542	653	719	979	1,110	1,185	1,354	1,529
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.45	4.76	5.22	6.76	8.07	10.73	12.09	8.94	7.67	5.77
Price to Tangible Book Value (P/TBV)	5.54	24.01	16.15	17.97	0.00	169.08	61.73	27.85	39.26	18.26
Price to Revenue (P/Rev)	4.21	4.39	4.95	5.95	6.41	9.06	10.91	8.39	7.50	5.99
Price to Earnings (P/E)	20.02	22.88	29.90	44.12	41.31	43.12	73.53	38.54	35.31	27.48
Dividend Yield	2.23%	2.09%	2.25%	1.44%	1.27%	0.84%	0.65%	0.82%	0.82%	1.01%
Earnings Yield	5.00%	4.37%	3.34%	2.27%	2.42%	2.32%	1.36%	2.60%	2.83%	3.64%
Enterprise Value to Invested Capital (EV/IC)	5.68	3.98	4.73	6.51	5.58	8.57	10.86	7.91	6.16	5.35
Enterprise Value to Revenue (EV/Rev)	3.96	4.63	5.08	5.99	6.84	9.31	11.03	8.53	7.79	6.09
Enterprise Value to EBITDA (EV/EBITDA)	13.61	16.33	19.35	21.46	24.80	28.11	31.76	25.77	24.30	18.66
Enterprise Value to EBIT (EV/EBIT)	16.00	19.60	24.40	26.29	31.38	34.51	38.38	30.81	28.46	21.73
Enterprise Value to NOPAT (EV/NOPAT)	20.07	24.73	30.14	42.74	39.49	40.08	72.65	37.62	35.68	26.77
Enterprise Value to Operating Cash Flow (EV/OCF)	16.26	15.52	25.33	27.76	38.86	34.30	47.85	86.97	47.46	20.36
Enterprise Value to Free Cash Flow (EV/FCFF)	21.17	0.00	39.25	35.65	0.00	40.92	78.43	156.44	0.00	26.52
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.19	0.69	0.55	0.14	0.61	0.47	0.23	0.23	0.35	0.15
Long-Term Debt to Equity	0.19	0.52	0.55	0.13	0.61	0.47	0.22	0.23	0.35	0.14
Financial Leverage	-0.31	0.01	0.19	0.09	0.29	0.40	0.20	0.14	0.23	0.19
Leverage Ratio	1.36	1.66	1.84	1.63	1.74	1.90	1.73	1.57	1.58	1.51
Compound Leverage Factor	1.42	1.68	1.79	1.59	1.58	1.75	1.67	1.52	1.51	1.46
Debt to Total Capital	15.92%	40.90%	35.49%	12.03%	38.01%	32.02%	18.51%	18.74%	25.87%	12.69%
Short-Term Debt to Total Capital	0.00%	10.44%	0.00%	0.49%	0.36%	0.33%	0.34%	0.24%	0.18%	0.18%
Long-Term Debt to Total Capital	15.92%	30.46%	35.49%	11.54%	37.66%	31.69%	18.17%	18.50%	25.69%	12.52%
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%
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%
Common Equity to Total Capital	84.08%	59.10%	64.51%	87.97%	61.99%	67.98%	81.49%	81.26%	74.13%	87.31%
Debt to EBITDA	0.62	2.25	1.99	0.43	1.77	1.20	0.59	0.65	1.06	0.46
Net Debt to EBITDA	-0.85	0.85	0.47	0.14	1.56	0.73	0.32	0.42	0.90	0.31
Long-Term Debt to EBITDA	0.62	1.68	1.99	0.41	1.75	1.19	0.58	0.65	1.06	0.46
Debt to NOPAT	0.91	3.41	3.10	0.86	2.81	1.71	1.35	0.96	1.56	0.66
Net Debt to NOPAT	-1.26	1.28	0.74	0.28	2.49	1.04	0.74	0.62	1.32	0.44
Long-Term Debt to NOPAT	0.91	2.54	3.10	0.82	2.79	1.70	1.33	0.94	1.55	0.65
Altman Z-Score	10.42	5.32	6.45	10.98	7.02	10.02	13.76	13.02	9.61	10.96
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	5.28	2.23	4.57	2.08	2.06	2.53	1.73	2.80	3.12	2.59
Quick Ratio	4.05	1.75	3.53	1.32	1.22	1.56	1.00	1.23	1.23	1.18
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	314	-622	267	393	-592	673	449	195	-559	1,076
Operating Cash Flow to CapEx	654.14%	936.09%	665.48%	807.00%	668.10%	841.56%	717.27%	260.43%	579.33%	1,408.87%
Free Cash Flow to Firm to Interest Expense	54.33	-55.47	9.47	13.87	-16.39	17.09	19.02	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	70.76	48.90	14.66	17.81	12.70	20.38	31.18	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	59.94	43.67	12.46	15.60	10.80	17.96	26.83	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.74	0.68	0.61	0.72	0.73	0.68	0.69	0.73	0.71	0.69
Accounts Receivable Turnover	4.65	4.94	4.96	5.01	5.15	5.90	5.87	6.01	6.59	6.08
Inventory Turnover	3.24	3.28	3.51	3.74	3.60	3.23	3.11	2.59	2.14	2.23
Fixed Asset Turnover	4.08	4.76	5.31	5.99	6.74	7.35	7.26	7.44	8.15	8.63
Accounts Payable Turnover	8.02	8.89	9.33	10.84	10.67	9.85	9.92	10.45	12.05	10.45
Days Sales Outstanding (DSO)	78.50	73.91	73.52	72.85	70.87	61.91	62.17	60.71	55.35	60.07
Days Inventory Outstanding (DIO)	112.72	111.39	103.97	97.49	101.44	112.89	117.47	141.05	170.24	163.64
Days Payable Outstanding (DPO)	45.53	41.05	39.10	33.67	34.19	37.04	36.80	34.91	30.30	34.93
Cash Conversion Cycle (CCC)	145.69	144.25	138.39	136.67	138.11	137.76	142.84	166.85	195.30	188.79
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,171	2,136	2,217	2,152	3,196	3,210	3,246	3,862	5,343	5,333
Invested Capital Turnover	1.44	1.11	0.95	1.07	0.97	0.92	0.99	1.01	0.92	0.88
Increase / (Decrease) in Invested Capital	17	966	81	-65	1,044	14	36	617	1,481	-10
Enterprise Value (EV)	6,647	8,505	10,490	14,018	17,839	27,518	35,252	30,537	32,904	28,523
Market Capitalization	7,064	8,063	10,233	13,925	16,715	26,805	34,892	30,036	31,691	28,054
Book Value per Share	$11.26	$12.07	$13.82	$14.42	$14.45	$17.26	$19.83	$22.97	$28.11	$33.11
Tangible Book Value per Share	$9.05	$2.39	$4.47	$5.43	($2.14)	$1.10	$3.88	$7.37	$5.49	$10.46
Total Capital	1,888	2,868	3,039	2,340	3,343	3,673	3,541	4,136	5,571	5,571
Total Debt	301	1,173	1,079	281	1,271	1,176	655	775	1,441	707
Total Long-Term Debt	301	873	1,079	270	1,259	1,164	643	765	1,431	697
Net Debt	-417	441	257	93	1,124	713	360	502	1,213	469
Capital Expenditures (CapEx)	63	59	62	63	69	95	103	135	120	99
Debt-free, Cash-free Net Working Capital (DFCFNWC)	424	350	462	377	454	470	380	978	1,391	1,219
Debt-free Net Working Capital (DFNWC)	1,141	1,081	1,284	566	601	933	675	1,252	1,619	1,457
Net Working Capital (NWC)	1,141	782	1,284	554	589	921	663	1,242	1,609	1,447
Net Nonoperating Expense (NNE)	-22	-8.51	5.77	12	47	65	11	32	25	44
Net Nonoperating Obligations (NNO)	-417	441	257	93	1,124	713	360	502	1,213	469
Total Depreciation and Amortization (D&A)	73	87	112	120	151	181	192	194	198	216
Debt-free, Cash-free Net Working Capital to Revenue	25.26%	19.02%	22.35%	16.12%	17.43%	15.88%	11.88%	27.34%	32.95%	26.01%
Debt-free Net Working Capital to Revenue	67.98%	58.80%	62.12%	24.18%	23.07%	31.54%	21.11%	34.99%	38.34%	31.10%
Net Working Capital to Revenue	67.98%	42.52%	62.12%	23.69%	22.61%	31.14%	20.74%	34.72%	38.11%	30.89%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.51	$2.51	$2.42	$2.21	$2.83	$4.31	$3.27	$5.34	$6.12	$6.94
Adjusted Weighted Average Basic Shares Outstanding	140.47M	140.24M	141.36M	142.76M	143.11M	144.34M	145.31M	146.07M	146.77M	147.02M
Adjusted Diluted Earnings per Share	$2.47	$2.49	$2.40	$2.19	$2.80	$4.27	$3.24	$5.30	$6.09	$6.92
Adjusted Weighted Average Diluted Shares Outstanding	142.69M	141.67M	142.45M	143.99M	144.48M	145.65M	146.45M	147.04M	147.46M	147.55M
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
Adjusted Weighted Average Basic & Diluted Shares Outstanding	140.52M	140.70M	142.21M	142.68M	143.67M	144.90M	145.68K	146.42M	147.07M	146.93M
Normalized Net Operating Profit after Tax (NOPAT)	331	349	373	339	491	686	490	813	939	1,117
Normalized NOPAT Margin	19.73%	19.00%	18.06%	14.49%	18.84%	23.20%	15.32%	22.73%	22.23%	23.85%
Pre Tax Income Margin	25.96%	23.91%	20.26%	22.28%	19.91%	24.79%	27.64%	26.84%	26.09%	27.00%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	71.91	38.72	15.23	18.81	15.72	20.26	38.87	0.00	0.00	0.00
NOPAT to Interest Expense	57.34	30.69	12.33	11.57	12.49	17.45	20.54	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	61.09	33.50	13.02	16.60	13.82	17.84	34.53	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	46.52	25.47	10.12	9.36	10.59	15.02	16.19	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	44.69%	48.06%	57.85%	63.37%	52.55%	36.26%	48.52%	31.48%	29.04%	27.78%
Augmented Payout Ratio	90.12%	77.02%	57.85%	80.42%	58.20%	36.26%	48.52%	31.48%	29.04%	42.47%

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

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	5.12%	15.52%	29.20%	22.66%	16.00%	12.48%	7.17%	9.01%	11.08%	10.26%	7.92%
EBITDA Growth	0.59%	12.77%	24.93%	19.91%	9.36%	-1.96%	23.32%	19.58%	27.12%	45.42%	6.32%
EBIT Growth	2.04%	17.01%	29.91%	19.41%	7.41%	-5.00%	26.76%	23.41%	32.01%	53.39%	7.92%
NOPAT Growth	7.58%	8.89%	30.37%	9.15%	5.09%	-3.85%	24.11%	36.36%	34.98%	55.26%	24.25%
Net Income Growth	3.37%	11.48%	29.88%	17.74%	4.25%	-7.16%	29.24%	27.25%	41.90%	65.05%	21.48%
EPS Growth	2.88%	11.68%	29.51%	17.42%	4.20%	-7.19%	29.11%	27.10%	41.61%	64.79%	21.57%
Operating Cash Flow Growth	168.02%	-41.50%	140.61%	198.71%	541.00%	112.10%	42.28%	85.36%	13.71%	13.12%	43.93%
Free Cash Flow Firm Growth	-584.33%	-9,614.35%	-255.89%	-207.51%	-371.13%	100.61%	114.82%	125.68%	123.59%	4,977.63%	153.50%
Invested Capital Growth	13.09%	45.55%	40.79%	38.34%	34.36%	4.03%	2.05%	-0.19%	0.80%	-1.72%	-2.08%
Revenue Q/Q Growth	3.89%	8.78%	8.04%	0.46%	-1.76%	5.49%	2.94%	2.19%	0.11%	4.70%	0.75%
EBITDA Q/Q Growth	8.17%	5.53%	7.50%	-2.28%	-1.34%	-5.40%	35.21%	-5.24%	4.88%	8.22%	-1.15%
EBIT Q/Q Growth	10.06%	5.87%	6.16%	-3.47%	-1.00%	-6.36%	41.64%	-6.02%	5.90%	8.80%	-0.35%
NOPAT Q/Q Growth	5.95%	3.86%	4.91%	-5.46%	2.01%	-4.97%	35.43%	3.87%	0.97%	9.31%	8.38%
Net Income Q/Q Growth	7.90%	6.86%	3.37%	-1.22%	-4.46%	-4.84%	43.91%	-2.75%	6.54%	10.68%	5.93%
EPS Q/Q Growth	8.33%	6.99%	3.27%	-1.90%	-3.87%	-4.70%	43.66%	-3.43%	7.11%	10.90%	5.98%
Operating Cash Flow Q/Q Growth	-43.81%	188.02%	119.66%	-15.97%	20.57%	-4.70%	47.35%	9.47%	-26.03%	-5.20%	87.50%
Free Cash Flow Firm Q/Q Growth	40.14%	-484.03%	9.32%	3.00%	8.29%	100.75%	2,117.28%	68.12%	-15.75%	61.69%	10.70%
Invested Capital Q/Q Growth	4.11%	31.45%	0.09%	1.00%	1.11%	1.77%	-1.81%	-1.22%	2.12%	-0.78%	-2.17%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	56.91%	56.08%	55.31%	55.02%	54.44%	55.64%	57.88%	58.50%	58.57%	58.60%	59.33%
EBITDA Margin	33.15%	32.15%	31.99%	31.12%	31.25%	28.03%	36.81%	34.14%	35.76%	36.96%	36.27%
Operating Margin	29.02%	27.10%	26.92%	24.53%	26.22%	23.66%	31.29%	31.17%	31.63%	32.54%	33.00%
EBIT Margin	28.51%	27.75%	27.27%	26.20%	26.40%	23.44%	32.25%	29.66%	31.38%	32.60%	32.25%
Profit (Net Income) Margin	22.15%	21.76%	20.82%	20.47%	19.91%	17.96%	25.10%	23.89%	25.43%	26.88%	28.26%
Tax Burden Percent	80.40%	82.18%	80.34%	82.97%	80.61%	80.48%	80.04%	81.69%	81.19%	82.38%	87.39%
Interest Burden Percent	96.62%	95.41%	95.03%	94.16%	93.52%	95.21%	97.26%	98.61%	99.82%	100.07%	100.27%
Effective Tax Rate	19.60%	17.82%	19.66%	17.03%	19.39%	19.52%	19.96%	18.31%	18.81%	17.62%	12.61%
Return on Invested Capital (ROIC)	22.32%	18.80%	19.20%	18.68%	19.62%	15.90%	21.48%	22.35%	22.76%	24.23%	27.11%
ROIC Less NNEP Spread (ROIC-NNEP)	20.31%	18.28%	18.21%	18.82%	18.07%	14.92%	21.55%	20.07%	22.32%	24.38%	24.16%
Return on Net Nonoperating Assets (RNNOA)	3.52%	5.40%	4.64%	4.31%	4.09%	4.65%	5.35%	3.75%	3.32%	2.92%	1.21%
Return on Equity (ROE)	25.83%	24.20%	23.84%	22.98%	23.72%	20.56%	26.84%	26.10%	26.08%	27.16%	28.32%
Cash Return on Invested Capital (CROIC)	9.56%	-18.12%	-13.92%	-12.14%	-9.51%	13.20%	16.36%	20.15%	20.34%	25.02%	27.23%
Operating Return on Assets (OROA)	20.86%	18.30%	18.85%	18.68%	19.38%	15.55%	21.86%	20.40%	21.60%	22.87%	22.52%
Return on Assets (ROA)	16.21%	14.35%	14.39%	14.59%	14.61%	11.91%	17.01%	16.43%	17.51%	18.86%	19.73%
Return on Common Equity (ROCE)	25.83%	24.20%	23.84%	22.98%	23.72%	20.56%	26.84%	26.10%	26.08%	27.16%	28.32%
Return on Equity Simple (ROE_SIMPLE)	22.91%	21.65%	21.94%	0.00%	21.33%	19.87%	20.70%	0.00%	21.42%	23.77%	23.68%
Net Operating Profit after Tax (NOPAT)	222	230	242	228	233	221	300	311	314	344	373
NOPAT Margin	23.33%	22.27%	21.63%	20.35%	21.13%	19.04%	25.05%	25.46%	25.68%	26.81%	28.84%
Net Nonoperating Expense Percent (NNEP)	2.01%	0.53%	0.99%	-0.15%	1.56%	0.98%	-0.06%	2.28%	0.44%	-0.15%	2.94%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	3.88%	-	-	-	5.80%	5.99%
Cost of Revenue to Revenue	43.09%	43.92%	44.69%	44.98%	45.56%	44.36%	42.12%	41.50%	41.43%	41.40%	40.67%
SG&A Expenses to Revenue	20.41%	20.48%	20.45%	21.38%	20.22%	19.11%	19.21%	19.80%	19.52%	18.85%	18.99%
R&D to Revenue	6.65%	6.76%	6.84%	6.96%	6.87%	6.35%	6.44%	6.61%	6.49%	6.35%	6.50%
Operating Expenses to Revenue	27.89%	28.97%	28.39%	30.49%	28.22%	31.98%	26.58%	27.33%	26.94%	26.05%	26.33%
Earnings before Interest and Taxes (EBIT)	271	287	305	294	291	273	386	363	384	418	417
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	315	332	357	349	344	326	441	418	438	474	468
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	9.14	8.02	8.06	7.67	5.06	5.59	6.26	5.77	6.90	6.39	5.93
Price to Tangible Book Value (P/TBV)	27.14	78.05	54.73	39.26	24.60	22.96	22.43	18.26	19.60	16.70	14.50
Price to Revenue (P/Rev)	8.65	7.97	7.89	7.50	4.92	5.57	6.32	5.99	7.46	6.81	6.55
Price to Earnings (P/E)	39.89	37.04	36.73	35.31	23.74	28.15	30.25	27.48	32.23	26.88	25.03
Dividend Yield	0.79%	0.84%	0.81%	0.82%	1.23%	1.08%	0.95%	1.01%	0.81%	0.88%	0.92%
Earnings Yield	2.51%	2.70%	2.72%	2.83%	4.21%	3.55%	3.31%	3.64%	3.10%	3.72%	3.99%
Enterprise Value to Invested Capital (EV/IC)	7.95	5.96	6.25	6.16	4.20	4.74	5.51	5.35	6.63	6.24	6.17
Enterprise Value to Revenue (EV/Rev)	8.82	8.38	8.23	7.79	5.18	5.79	6.49	6.09	7.51	6.84	6.50
Enterprise Value to EBITDA (EV/EBITDA)	26.92	25.74	25.51	24.30	16.39	18.95	20.38	18.66	22.27	19.05	18.14
Enterprise Value to EBIT (EV/EBIT)	32.06	30.36	29.82	28.46	19.28	22.45	23.93	21.73	25.70	21.74	20.62
Enterprise Value to NOPAT (EV/NOPAT)	38.61	37.25	36.62	35.68	24.29	28.21	30.29	26.77	31.49	26.57	24.30
Enterprise Value to Operating Cash Flow (EV/OCF)	69.25	85.16	61.75	47.46	24.25	24.17	24.83	20.36	25.07	22.84	19.73
Enterprise Value to Free Cash Flow (EV/FCFF)	88.24	0.00	0.00	0.00	0.00	36.64	34.04	26.52	32.73	24.73	22.42
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.23	0.48	0.40	0.35	0.32	0.27	0.22	0.15	0.13	0.13	0.12
Long-Term Debt to Equity	0.23	0.48	0.40	0.35	0.32	0.27	0.22	0.14	0.13	0.13	0.12
Financial Leverage	0.17	0.30	0.25	0.23	0.23	0.31	0.25	0.19	0.15	0.12	0.05
Leverage Ratio	1.53	1.66	1.61	1.58	1.55	1.65	1.58	1.51	1.48	1.44	1.41
Compound Leverage Factor	1.48	1.58	1.53	1.49	1.45	1.57	1.54	1.49	1.48	1.44	1.42
Debt to Total Capital	18.81%	32.51%	28.74%	25.87%	24.26%	21.49%	17.86%	12.69%	11.54%	11.35%	10.82%
Short-Term Debt to Total Capital	0.23%	0.18%	0.18%	0.18%	0.18%	0.17%	0.18%	0.18%	0.17%	0.17%	0.16%
Long-Term Debt to Total Capital	18.58%	32.33%	28.56%	25.69%	24.08%	21.32%	17.69%	12.52%	11.37%	11.19%	10.66%
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	81.19%	67.49%	71.26%	74.13%	75.74%	78.51%	82.14%	87.31%	88.46%	88.65%	89.18%
Debt to EBITDA	0.67	1.47	1.22	1.06	0.98	0.89	0.69	0.46	0.42	0.38	0.37
Net Debt to EBITDA	0.50	1.26	1.05	0.90	0.83	0.74	0.53	0.31	0.15	0.09	-0.14
Long-Term Debt to EBITDA	0.66	1.46	1.22	1.06	0.98	0.88	0.68	0.46	0.41	0.37	0.37
Debt to NOPAT	0.96	2.13	1.76	1.56	1.46	1.33	1.02	0.66	0.59	0.53	0.50
Net Debt to NOPAT	0.71	1.83	1.50	1.32	1.23	1.10	0.78	0.44	0.22	0.12	-0.19
Long-Term Debt to NOPAT	0.95	2.12	1.75	1.55	1.45	1.32	1.01	0.65	0.58	0.52	0.49
Altman Z-Score	12.99	7.94	8.72	9.19	7.16	8.19	10.08	10.51	12.76	12.96	12.04
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.94	3.17	3.07	3.12	2.99	3.11	3.04	2.59	2.92	3.33	3.41
Quick Ratio	1.19	1.26	1.20	1.23	1.17	1.23	1.32	1.18	1.37	1.62	1.96
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-244	-1,424	-1,291	-1,252	-1,149	8.63	191	322	271	438	485
Operating Cash Flow to CapEx	153.71%	470.33%	980.55%	689.24%	953.16%	1,168.30%	1,897.18%	1,768.88%	1,824.76%	1,494.98%	2,782.56%
Free Cash Flow to Firm to Interest Expense	-34.18	-137.74	-86.29	0.00	0.00	0.00	17.35	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	6.26	12.44	18.88	0.00	0.00	0.00	36.46	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	2.19	9.80	16.96	0.00	0.00	0.00	34.54	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.73	0.66	0.69	0.71	0.73	0.66	0.68	0.69	0.69	0.70	0.70
Accounts Receivable Turnover	6.06	6.28	6.72	6.59	6.66	6.43	6.26	6.08	6.39	6.20	5.95
Inventory Turnover	2.28	2.06	2.09	2.14	2.15	2.10	2.20	2.23	2.17	2.26	2.45
Fixed Asset Turnover	7.59	7.52	7.71	8.15	8.57	8.38	8.58	8.63	8.79	9.19	9.34
Accounts Payable Turnover	8.82	9.07	11.26	12.05	10.93	10.15	11.95	10.45	9.55	9.70	10.36
Days Sales Outstanding (DSO)	60.22	58.11	54.30	55.35	54.77	56.81	58.34	60.07	57.08	58.89	61.31
Days Inventory Outstanding (DIO)	159.88	177.13	174.32	170.24	169.74	173.49	165.73	163.64	168.26	161.61	149.10
Days Payable Outstanding (DPO)	41.40	40.26	32.41	30.30	33.38	35.96	30.55	34.93	38.23	37.63	35.25
Cash Conversion Cycle (CCC)	178.70	194.98	196.21	195.30	191.13	194.34	193.52	188.79	187.10	182.86	175.17
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,021	5,286	5,290	5,343	5,403	5,498	5,399	5,333	5,446	5,404	5,286
Invested Capital Turnover	0.96	0.84	0.89	0.92	0.93	0.84	0.86	0.88	0.89	0.90	0.94
Increase / (Decrease) in Invested Capital	465	1,654	1,533	1,481	1,382	213	108	-10	43	-94	-113
Enterprise Value (EV)	31,955	31,527	33,055	32,904	22,676	26,085	29,763	28,523	36,120	33,722	32,616
Market Capitalization	31,367	29,979	31,697	31,691	21,524	25,069	28,994	28,054	35,869	33,571	32,876
Book Value per Share	$23.44	$25.52	$26.77	$28.11	$28.90	$30.47	$31.48	$33.11	$35.36	$35.78	$37.76
Tangible Book Value per Share	$7.89	$2.62	$3.94	$5.49	$5.95	$7.42	$8.79	$10.46	$12.46	$13.69	$15.44
Total Capital	4,228	5,539	5,518	5,571	5,612	5,709	5,637	5,571	5,873	5,926	6,219
Total Debt	795	1,801	1,586	1,441	1,361	1,227	1,007	707	677	673	673
Total Long-Term Debt	785	1,791	1,576	1,431	1,352	1,217	997	697	668	663	663
Net Debt	588	1,547	1,358	1,213	1,152	1,016	769	469	251	151	-260
Capital Expenditures (CapEx)	29	27	29	34	30	23	21	25	18	21	21
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,144	1,349	1,358	1,391	1,335	1,414	1,350	1,219	1,321	1,472	1,345
Debt-free Net Working Capital (DFNWC)	1,351	1,602	1,586	1,619	1,544	1,624	1,588	1,457	1,747	1,994	2,278
Net Working Capital (NWC)	1,341	1,592	1,576	1,609	1,534	1,614	1,578	1,447	1,737	1,984	2,268
Net Nonoperating Expense (NNE)	11	5.34	9.07	-1.27	14	13	-0.67	19	3.10	-0.89	7.49
Net Nonoperating Obligations (NNO)	588	1,547	1,358	1,213	1,152	1,016	769	469	251	151	-260
Total Depreciation and Amortization (D&A)	44	46	53	55	53	53	55	55	54	56	52
Debt-free, Cash-free Net Working Capital to Revenue	31.56%	35.85%	33.82%	32.95%	30.50%	31.39%	29.45%	26.01%	27.47%	29.88%	26.79%
Debt-free Net Working Capital to Revenue	37.27%	42.58%	39.50%	38.34%	35.28%	36.05%	34.64%	31.10%	36.34%	40.48%	45.36%
Net Working Capital to Revenue	37.00%	42.32%	39.25%	38.11%	35.06%	35.83%	34.43%	30.89%	36.13%	40.27%	45.16%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.44	$1.53	$1.58	$1.57	$1.49	$1.42	$2.04	$1.99	$2.12	$2.35	$2.49
Adjusted Weighted Average Basic Shares Outstanding	146.43M	146.70M	146.91M	146.77M	147.08M	147.13M	146.96M	147.02M	146.86M	146.81M	146.72M
Adjusted Diluted Earnings per Share	$1.43	$1.53	$1.58	$1.55	$1.49	$1.42	$2.04	$1.97	$2.11	$2.34	$2.48
Adjusted Weighted Average Diluted Shares Outstanding	147.13M	147.41M	147.40M	147.46M	147.49M	147.55M	147.45M	147.55M	147.60M	147.48M	147.22M
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	146.48M	146.91M	146.93M	147.07M	147.09M	147.09M	146.91M	146.93M	146.80M	146.87M	146.63M
Normalized Net Operating Profit after Tax (NOPAT)	222	237	242	228	233	273	300	311	314	344	373
Normalized NOPAT Margin	23.33%	22.94%	21.63%	20.35%	21.13%	23.48%	25.05%	25.46%	25.68%	26.81%	28.84%
Pre Tax Income Margin	27.55%	26.48%	25.91%	24.67%	24.69%	22.31%	31.36%	29.25%	31.32%	32.63%	32.34%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	37.98	27.75	20.35	0.00	0.00	0.00	35.01	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	31.08	22.27	16.14	0.00	0.00	0.00	27.19	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	33.91	25.10	18.42	0.00	0.00	0.00	33.09	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	27.00	19.63	14.22	0.00	0.00	0.00	25.27	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	31.61%	31.11%	29.56%	29.04%	29.57%	30.80%	29.09%	27.78%	26.10%	23.82%	23.20%
Augmented Payout Ratio	31.61%	31.11%	29.56%	29.04%	29.57%	36.42%	39.53%	42.47%	44.07%	41.84%	42.24%

Key Financial Trends

Over the past four years, ResMed has demonstrated consistent growth and financial stability, as shown in its quarterly financial statements. Below is a summary of key trends and notable points across income statements, cash flow statements, and balance sheets:

Revenue Growth: Total revenue increased steadily from approximately $864M in Q3 2022 to $1.29B in Q3 2025, highlighting strong top-line growth.
Improved Profitability: Net income increased from $179M in Q3 2022 to $365M in Q3 2025, with diluted EPS rising from $1.22 to $2.48, reflecting increased profitability and operational efficiency.
Increasing Gross Profit: Gross profit consistently rose each year, reaching approximately $766M in Q3 2025 from $491M in Q3 2022, indicating good margin management.
Strong Operating Income: Operating income showed a steady rise, with $426M reported in Q3 2025 compared to $234M in Q3 2022, underlining effective expense control relative to revenue.
Healthy Cash Flow from Operations: Cash flow from operating activities has grown to $579M in Q3 2025 from $117M in Q3 2022, suggesting robust cash generation capability.
Solid Balance Sheet with Growing Equity: Total common equity increased from about $3.93B in Q3 2022 to $5.55B in Q3 2025, underlining growing retained earnings and shareholder value.
Moderate Increase in Total Assets: Assets grew from roughly $4.9B in Q3 2022 to $7.57B in Q3 2025, reflecting ongoing investments and acquisitions.
Consistent Dividend Payments: ResMed has maintained or slightly increased cash dividends per common share from $0.42 in Q4 2022 to $0.53 in Q3 2025, appealing to income-focused investors.
Rising Operating Expenses: While revenue grew, total operating expenses also increased from $256M in Q3 2022 to $340M in Q3 2025, which may pressure margins if growth slows.
Long-Term Debt Levels Have Fluctuated: Long-term debt was $668M in Q3 2022, peaked at over $1.5B in mid-2023, and then reduced to $663M by Q3 2025, indicating periods of elevated leverage.

Summary: ResMed exhibits a solid financial track record characterized by healthy revenue and earnings growth, improved profit margins, and strong cash flows. The company maintains a robust balance sheet with increasing equity, although operating costs and historical debt fluctuations warrant monitoring. Overall, these trends suggest ResMed is on a growth trajectory with prudent financial management, offering potential for investor confidence.

08/05/25 09:49 AMAI Generated. May Contain Errors.

Frequently Asked Questions About ResMed's Financials

When does ResMed's financial year end?

According to the most recent income statement we have on file, ResMed's fiscal year ends in June. Their fiscal year 2024 ended on June 30, 2024.

How has ResMed's net income changed over the last 9 years?

ResMed's net income appears to be on an upward trend, with a most recent value of $1.02 billion in 2024, rising from $352.89 million in 2015. The previous period was $897.56 million in 2023. Check out ResMed's forecast to explore projected trends and price targets.

What is ResMed's operating income?

ResMed's total operating income in 2024 was $1.32 billion, based on the following breakdown:

Total Gross Profit: $2.66 billion
Total Operating Expenses: $1.34 billion

How has ResMed's revenue changed over the last 9 years?

Over the last 9 years, ResMed's total revenue changed from $1.68 billion in 2015 to $4.69 billion in 2024, a change of 179.1%.

How much debt does ResMed have?

ResMed's total liabilities were at $2.01 billion at the end of 2024, a 23.4% decrease from 2023, and a 237.8% increase since 2015.

How much cash does ResMed have?

In the past 9 years, ResMed's cash and equivalents has ranged from $147.13 million in 2019 to $821.94 million in 2017, and is currently $238.36 million as of their latest financial filing in 2024.

How has ResMed's book value per share changed over the last 9 years?

Over the last 9 years, ResMed's book value per share changed from 11.26 in 2015 to 33.11 in 2024, a change of 193.9%.

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This page (NYSE:RMD) was last updated on 8/5/2025 by MarketBeat.com Staff

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ResMed (RMD) Financials

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ResMed (RMD) Financials

Annual Income Statements for ResMed

Quarterly Income Statements for ResMed

Annual Cash Flow Statements for ResMed

Quarterly Cash Flow Statements for ResMed

Annual Balance Sheets for ResMed

Quarterly Balance Sheets for ResMed

Annual Metrics And Ratios for ResMed

Quarterly Metrics And Ratios for ResMed

Key Financial Trends

Frequently Asked Questions About ResMed's Financials

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