RESMED INC (RMD)
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RMD

RMD - RESMED INC

FNArena Sector : Medical Equipment & Devices
Year End: June
GICS Industry Group : Health Care Equipment & Services
Debt/EBITDA: 0.44
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

ResMed is the global market leader in providing devices for the treatment of sleep apnoea and chronic pulmonary disease. Formed in Australia in 1989 the company listed on the ASX in 1999 and is also listed on the NYSE. ResMed's head office is in San Diego, California.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$36.29

03 Feb
2026

-0.770

OPEN

$37.03

-2.08%

HIGH

$37.07

2,345,623

LOW

$36.23

TARGET
$47.233 30.2% upside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
4DX . AT1 . AYA . BB1 . BRN . CAT . CBL . CGS . CMP . COH . CSX . CU6 . CVB . CYC . EBR . EMV . EYE . FPH . IME . IMR . IPD . LDX . MX1 . NAN . ONE . PCK . PEB . PGC . PME . RAP . SHG . SOM . TRJ . UBI .
FNARENA'S MARKET CONSENSUS FORECASTS
RMD: 1
Title FY26
Forecast		 FY27
Forecast
EPS (cps) 170.9 xxx
DPS (cps) 37.7 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 20.9 xxx
Dividend Yield 1.1% xxx
Div Pay Ratio(%) 22.1% xxx
This company reports in USD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: 0.93%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.85

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 12/11 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx147.4
DPS All xxxxxxxxxxxxxxx32.5
Sales/Revenue xxxxxxxxxxxxxxx7,946.4 M
Book Value Per Share xxxxxxxxxxxxxxx622.1
Net Operating Cash Flow xxxxxxxxxxxxxxx2,704.6 M
Net Profit Margin xxxxxxxxxxxxxxx27.22 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx26.39 %
Return on Invested Capital xxxxxxxxxxxxxxx22.91 %
Return on Assets xxxxxxxxxxxxxxx19.00 %
Return on Equity xxxxxxxxxxxxxxx26.39 %
Return on Total Capital xxxxxxxxxxxxxxx27.43 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx2,085.8 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx62 M
Long Term Debt xxxxxxxxxxxxxxx1,238 M
Total Debt xxxxxxxxxxxxxxx1,300 M
Goodwill - Gross xxxxxxxxxxxxxxx4,649 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx1,865 M
Price To Book Value xxxxxxxxxxxxxxx6.33

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx155.4 M
Capex % of Sales xxxxxxxxxxxxxxx1.96 %
Cost of Goods Sold xxxxxxxxxxxxxxx3,299 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx2,042 M
Research & Development xxxxxxxxxxxxxxx512 M
Investments - Total xxxxxxxxxxxxxxx108 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

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

Morgans

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

02/02/2026

1

Overweight

-

-

ResMed announced a revenue beat of 2% against Morgan Stanley and consensus, with the gross margin of 62.3%, some 20bps above the analyst's forecast and consensus. It was also up 310bps y/y due to operational efficiencies and cost betterment for the 2Q26 update.

The medtech company generated free cash flow of US$1.8bn over the last year, with net cash of US$735m at year-end. The analyst assumes a share buyback of US$175m per quarter for 3Q/4Q26.

Morgan Stanley lifts EPS forecasts by over 1% for FY26-FY28 with target price retained at US$310.

Retain Overweight with scope for increased share of addressable markets. Industry View: In-Line.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 37.70 cents and EPS of 169.59 cents.
Morgan Stanley forecasts a full year FY27 dividend of 40.78 cents and EPS of 187.75 cents.

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

-

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Canaccord Genuity

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Jarden

30/01/2026

2

Overweight

$45.20

24.55%

The second quarter delivered 15% neet profit growth for ResMed with Jarden assessing results were strong across most metrics. Double-digit earnings growth and strong cash flow pushed the balance sheet into a US$753m net cash position.

The broker considers the stock cheap while earnings growth is expected to stay in double digits for at least the next three years. Overweight rating. Target rises to $45.20  from $45.10.

FORECAST
Jarden forecasts a full year FY26 EPS of 173.28 cents.
Jarden forecasts a full year FY27 EPS of 198.37 cents.
Access Extra Coverage Research History >

RMD STOCK CHART

FNArena News on RMD

Latest Medical Equipment & Devices News

1
Shortages Chip Away At ResMed’s Big Break

Mar 30 2022 - Australia
2
Opportunity for Fisher & Paykel Healthcare

Mar 25 2022 - Australia
3
Distribution Anxiety For Nanosonics

Feb 10 2022 - Australia
4
Brokers Awake To ResMed’s Potential

Jan 31 2022 - Australia
5
Covid Benefits F&P Healthcare, For Now

Dec 06 2021 - Australia
6
Will Shortages Limit Upside For ResMed?

Nov 01 2021 - Australia
7
Nanosonics Unveils Its New Product

Aug 26 2021 - Australia
8
Pro Medicus: Opportunity Awaits

Aug 24 2021 - Technicals
9
Breakout For Cochlear

Aug 10 2021 - Technicals
10
Will ResMed’s Market Share Gains Last?

Aug 09 2021 - Australia