ResMed (RMD) stock
Health Care · Health Care Equipment
ResMed (RMD) is a Health Care Equipment company in the Health Care sector, headquartered in San Diego, California. As of October 23, 2026, RMD closed at $252.86, a market capitalization of $35.56 billion, the 292nd largest company in the S&P 500. Over the last twelve months it generated $5.65 billion in revenue (+9% year over year) and $1.63 billion in free cash flow. The stock trades at 24.2x trailing earnings and 19.1x forward earnings.
- 1-year total return: -3.7% (dividends reinvested)
- 5-year return: -0.2% a year
- 52-week range: $180.27 – $277.67
- Gross margin 61.6%, operating margin 30.9%
- Dividend yield: 1.04%, 13 straight years of increases
- FI Handbook report card: B+ across 10 metrics
- 37th largest of 60 Health Care stocks in the S&P 500
RMD price chart
1Y price change: -4.7% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| RMD | +13.7% | +5.8% | -3.7% | +21.1% | -0.2% | +16.1% | +21.5% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1995.
RMD key statistics
- Market cap
- $35.6B
- #292 in S&P 500
- P/E (TTM)
- 24.2x
- Forward P/E
- 19.1x
- EPS (TTM)
- $10.43
- Revenue (TTM)
- $5.7B
- +9%
- Free cash flow
- $1.6B
- Gross margin
- 61.6%
- Operating margin
- 30.9%
- Return on equity
- 24.3%
- Dividend yield
- 1.04%
- 52-week range
- $180.27 – $277.67
- Beta
- 0.75
- Price / sales
- 6.3x
- EV / EBITDA
- 17.1x
- Debt / equity
- 0.13x
- Employees
- 11,370
RMD report card
B+Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth8.6%C
- Gross margin61.6%A
- Operating margin30.9%A
- FCF margin28.8%A
- Return on equity24.3%B
- Net debt / EBITDA-0.3xA
- Forward P/E19.1xB
- PEG ratio1.3xB
- Shareholder yield3.0%B
- Share count change / yr-0.1%C
ResMed financials
Revenue went from $2.1B in fiscal 2017 to $5.7B in fiscal 2026, growing 11.8% a year.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.1B | $2.3B | $2.6B | $3.0B | $3.2B | $3.6B | $4.2B | $4.7B | $5.1B | $5.7B |
| Gross profit | $1.2B | $1.3B | $1.5B | $1.7B | $1.8B | $2.0B | $2.4B | $2.7B | $3.1B | $3.5B |
| Operating income | $425.8M | $541.8M | $579.3M | $809.7M | $903.7M | $1.0B | $1.1B | $1.3B | $1.7B | $1.9B |
| Net income | $342.3M | $315.6M | $404.6M | $621.7M | $474.5M | $779.4M | $897.6M | $1.0B | $1.4B | $1.5B |
| EPS (diluted) | $2.40 | $2.19 | $2.80 | $4.27 | $3.24 | $5.30 | $6.09 | $6.92 | $9.51 | $10.43 |
| Free cash flow | $351.8M | $442.4M | $390.3M | $706.9M | $634.0M | $216.3M | $573.6M | $1.3B | $1.7B | $1.6B |
| Buybacks | — | $53.8M | $22.8M | — | — | $0 | $0 | $150.0M | $300.0M | $700.0M |
| Dividends paid | $186.3M | $199.5M | $211.7M | $225.1M | $226.7M | $245.3M | $258.3M | $282.3M | $310.9M | $349.7M |
| Diluted shares | 142.5M | 144.0M | 144.5M | 145.7M | 146.5M | 147.0M | 147.5M | 147.6M | 147.3M | 146.1M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into RMD?
A reverse DCF asks what growth the current price requires. With an enterprise value of $34.9B and $1.6B of trailing free cash flow, ResMed needs to grow free cash flow about 12.3% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 21.1% a year over the last five years.
P/E ratio history
Current 24.2x vs. median 28.6x (10th–90th percentile 21.9x–55.6x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
RMD dividend
- Dividend yield
- 1.04%
- Annual dividend
- $2.64
- Years of increases
- 13
- 5-yr dividend growth
- 7.7%
- per year
- Payout ratio
- 23%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
RMD analyst price targets
17 analysts' average 12-month target is $251.52 (-1% vs. $252.86). Targets range from $175.00 to $320.00. 45% rate it a buy.
RMD earnings
Next report: October 29, 2026. ResMed has beaten EPS estimates 8 quarters in a row. Last quarter's revenue was $1.5B (+9% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Aug 6, 2026 | $2.89 | $2.95 | +2.0% |
| Apr 30, 2026 | $2.80 | $2.86 | +2.1% |
| Jan 29, 2026 | $2.72 | $2.81 | +3.1% |
| Oct 30, 2025 | $2.50 | $2.55 | +2.0% |
| Jul 31, 2025 | $2.48 | $2.55 | +2.8% |
| Apr 23, 2025 | $2.36 | $2.37 | +0.4% |
| Jan 30, 2025 | $2.31 | $2.43 | +5.0% |
| Oct 24, 2024 | $2.04 | $2.20 | +7.7% |
Stocks like RMD
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 ABT Abbott Laboratories | +1.16% | -16% | $179.4B | 38.6x | Compare |
 ISRG Intuitive Surgical | +1.90% | -18% | $159.8B | 54.7x | Compare |
 MDT Medtronic plc. | -1.22% | +5% | $122.0B | 23.4x | Compare |
 SYK Stryker | +0.02% | -19% | $117.8B | 31.8x | Compare |
 BSX Boston Scientific | -0.70% | -55% | $66.2B | 18.5x | Compare |
 BDX Becton, Dickinson and | -0.75% | +39% | $54.2B | 46.3x | Compare |
 EW Edwards Lifesciences Corporatio | -1.13% | +16% | $51.3B | 53.0x | Compare |
 IDXX IDEXX Laboratories | -1.13% | -12% | $44.1B | 39.4x | Compare |
RMD news
- Will ResMed (RMD) Beat Estimates Again in Its Next Earnings Report? · Oct 23, 2026
- ResMed Set to Report Q1 Earnings: What's in the Cards for the Stock? · Oct 23, 2026
- Learn Why The Bull Case For ResMed (RMD) Could Change Following U.S. Mask Launch · Oct 23, 2026
- ResMed (RMD) Earnings Expected to Grow: What to Know Ahead of Next Week's Release · Oct 22, 2026
- Resmed Launches AirTouch™ F40 Full Face Fabric CPAP Mask in the U.S. · Oct 19, 2026
RMD stock FAQ
What is RMD's market cap?
ResMed's market capitalization is $35.56 billion as of October 23, 2026, ranking 292nd in the S&P 500.
What is RMD's P/E ratio?
RMD trades at a trailing price-to-earnings ratio of 24.2x and a forward P/E of 19.1x. Its median P/E over the period we track is 28.6x.
Does RMD pay a dividend?
Yes. ResMed pays $2.64 per share a year, a 1.04% yield. It has raised its dividend 13 years in a row. Dividends grew 7.7% a year over the last five years.
How much has RMD stock returned?
Including reinvested dividends, RMD returned -3.7% over one year, -0.2% a year over five years, +16.1% a year over ten years through October 23, 2026.
Is RMD stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies ResMed must grow free cash flow about 12% a year for the next decade. Its free cash flow grew 21% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the RMD price target?
17 analysts cover RMD with an average 12-month price target of $251.52, -1% from the current price. 45% of them rate it a buy.
When does RMD report earnings?
ResMed is expected to report earnings on October 29, 2026. It has beaten EPS estimates 8 quarters in a row.
How many employees does ResMed have?
ResMed has about 11,370 full-time employees, or $497,225 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology