undamentalytics Newsletter
Sign in

Insulet Corporation (PODD) stock

Add to watchlist

Add holding +

NASDAQ: PODD Nasdaq Health Care Equipment Next results ~November 4, 2026

B Fundamentals grade

Insulet Corporation is a US-listed company in the health care equipment industry. Its financial year ends in December.

Stock price today

Loading chart…

Third-party market data · may be delayed

Fair value per share

~$190

Cash-flow model

Base case. Range ~$140–$240 across our lower- and higher-growth cases (15%–25% a year).

Price vs value

Modestly undervalued

The price is inside our value range, 17% below our base value.

Price used: $153.61, November 2, 2026

Insulet Corporation valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Insulet files

Where Insulet stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $3.05bn, up 29.4% on a year earlier, slower than 31.9% a quarter earlier. That growth ranks 1 of 15 among the health care equipment companies we cover. Free-cash-flow margin fell to 9.6% from 17.2% a year earlier. The diluted share count is down 3.6% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 3 of our 3 financial-health checks. Our cash-flow model value is $175 a share, against a share price of $144. At that price, our model says the market is pricing in about 16.5% a year of cash-flow growth for five years, slower than the 22.7% a year revenue growth it has delivered.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 4, 2026 (estimated)

Insulet Corporation's trailing-twelve-month revenue grew 29.4% year on year, with a free-cash-flow margin of 9.0%. Where it stands out: change in share count of -3.6% ranks 12 of 115 health care equipment companies we cover.

Our discounted-cash-flow model values the business at ~$190 per share in the base case (~$140–$240 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 30.1% while net income grew 59.0%: a 89pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $153.61 is 21% below our value per share of $190.
  • Fast growth. Revenue grew 29.4% over the last 12 months, against a median of 9.1% for health care equipment companies we cover.
  • Shrinking share count. Diluted shares fell 3.6% in a year, so each share owns more of the business.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Results due soon. Results are expected around 5 November; the share price can move sharply on the day.
  • Volatile shares. Over the past year the shares showed annualised volatility of 45% and a beta of 0.2 against the S&P 500.
  • Growth easing. The growth rate is 2.5 points lower than a quarter earlier.
  • Weak cash conversion. Free cash flow was 73% of net income over the last 12 months.

Latest results: FY2026 Q2

Filed August 5, 2026
Earnings per share
$1.66 against an average estimate of $1.45: beat by 14.3%
Revenue
$802m, up 23.5% on a year earlier
Share reaction
-16.5% in the first session after the results on August 5, 2026, against -0.4% for the S&P 500
Guidance given
total revenue growth (constant currency) growth 17.5% to 19.5% (quarter ending September 30, 2026); total revenue growth (GAAP) growth 17% to 19% (Three Months Ended September 30, 2026)
Next report
November 4, 2026; average EPS estimate $1.59

Insulet's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.6%
  • 1 week+2.9%
  • 1 month+16.6%
  • This year-46.0%
  • 1 year-50.9%
  • 5 years-50.8%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$3.1B
Operating margin
16.9%
Net margin
12.3%
EPS (TTM, diluted)
$5.32

Growth

Revenue growth
+29.4%
Change in growth rate
−2.5 pts
Share count change
−3.6%

Cash

Free cash flow (TTM)
$274M
FCF margin
9.0%
Stock pay % of revenue
2.6%

Earnings

Last results
August 5, 2026
Next results (est.)
November 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Results
  3. Agreement
  4. Leadership
  5. Leadership
  6. Results
  7. Guidance
  8. Announcement
  9. Product

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Insulet Corporation valuation models and calculator

What the price is pricing in

The share price implies about 15.3% a year of cash-flow growth for five years.That is slower than the 22.7% a year revenue growth Insulet has delivered.

  • Priced in15.3%
  • Last 12 months29.4%
  • 3 years a year27.7%
  • 5 years a year22.7%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($152.43, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$190
Price used
$152.43close November 3, 2026
Implied change
▲ +22%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Insulet Corporation's free cash flow after stock-based pay with after-tax interest added back ($318M, FY2026 Q2 TTM), growing 16.4% and 17.6% in the next two years (forecasts, guidance and its record), then back to 20% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$140–~$240 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Insulet Corporation's free cash flow after stock-based pay ( $318M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Insulet Corporation as an operating company, with every model that fits that kind of business. Cost of equity 8.9%: the 10-year Treasury yield (4.9%) plus a beta of 0.87 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$190 ~$140–$240 Primary model, counts double
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$65 ~$45–$81 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$130 ~$110–$200 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$110 ~$75–$160 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$70 ~$60–$85 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$120 ~$65–$190 5 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Insulet Corporation with Health Care Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −24%
  • Revenue growth 5 points higher ▲ +31%
  • Free-cash-flow margin 1 point lower ▼ −10%
  • Last year's free-cash-flow margin change, if it persists ▼ −43%
  • Discount rate 1 point higher ▼ −16%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $59$83$114$154$207$276
8.5% $44$61$83$112$150$199
10% $35$48$65$87$116$153

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$37.81$37.68$69.00$79.32$171.20$255.63$266.07$294.39$216.98$261.07$284.24$153.61
Market value$2.1bn$2.2bn$4.0bn$4.8bn$10.7bn$16.9bn$18.2bn$20.6bn$16.0bn$19.3bn$20.4bn$10.8bn
+ Net debt (− = net cash)$49m$196m−$273m$478m$674m$152m$468m$712m$712m$427m$233m$414m
Enterprise value$2.2bn$2.4bn$3.7bn$5.3bn$11.3bn$17.0bn$18.7bn$21.3bn$16.7bn$19.7bn$20.7bn$11.3bn
Multiples
Price / sales 8.1x5.9x8.6x8.6x14.4x18.6x16.6x15.8x9.4x9.3x7.5x3.6x
Price / earnings ———n/mn/mn/mn/mn/m77.4x46.1x82.7x28.9x
Price / free cash flow ————————n/m63.2x54.1x36.9x
EV / EBITDA —n/mn/m123.7x145.6x159.1x102.0xn/m57.0x50.6x36.6x18.3x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

36 /100

Weak moat

How hard Insulet's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median 1.7% of total assets over 10 years.

  • Pricing power 18 / 20

    Gross margin has been a median 66.7%, moving by 3.9 percentage points (standard deviation) across 10 years.

  • Durability 1 / 20

    Operating margin has been a median 7.0%; its worst year was -2.5%.

  • Cash conversion 4 / 20

    Free cash flow was positive in 4 of 10 years, at a median -6.0% of revenue.

  • Discipline 13 / 20

    The diluted share count rose 5.3% over five years; stock-based pay has been a median 3.3% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 4, 2026, before the open. Analysts expect revenue of $833m and EPS of $1.59 (range $1.50 to $1.66) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $6.51 +31% $3.3bn +21%
Next $7.72 +19% $3.7bn +14%

Next year's EPS estimate has moved −4.1% in 90 days, across 24 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +0.5% on 90 days ago. In the last 30 days, 2 analysts raised Insulet Corporation's forecast and 1 cut it.

Consensus EPS forecast Insulet Corporation, last 90 days
$6.00 $6.50 $7.00 $7.50 $8.00 $8.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $6.48 Current fiscal year, 60 days ago: $6.50 Current fiscal year, 30 days ago: $6.50 Current fiscal year, 7 days ago: $6.50 Current fiscal year, Now: $6.51 $6.51 Next fiscal year, 90 days ago: $8.06 Next fiscal year, 60 days ago: $7.72 Next fiscal year, 30 days ago: $7.71 Next fiscal year, 7 days ago: $7.72 Next fiscal year, Now: $7.72 $7.72

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $6.48$8.06
60 days ago $6.50$7.72
30 days ago $6.50$7.71
7 days ago $6.50$7.72
Now $6.51$7.72

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $1.45 $1.66 +14.3%
Mar 2026 $1.19 $1.42 +19.3%
Dec 2025 $1.46 $1.55 +6.0%
Sept 2025 $1.15 $1.24 +8.1%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 5, 2026
  • Total revenue growth (constant currency) year ending December 31, 2026 20% growth to 22% growth Non-GAAP
    “Total 17.5% - 19.5% 20% - 22% 21% - 23%” source
  • Total revenue growth (GAAP) Year Ending December 31, 2026 21% growth to 23% growth GAAP
    “Total 21% - 23% 1% 20% - 22%” source
  • Total revenue growth (constant currency) quarter ending September 30, 2026 17.5% growth to 19.5% growth Non-GAAP
    “Total 17.5% - 19.5% 20% - 22% 21% - 23%” source
  • Total revenue growth (GAAP) Three Months Ended September 30, 2026 17% growth to 19% growth GAAP
    “Total 17% - 19% (0.5)% 17.5% - 19.5%” source
  • Adjusted EPS Growth year ending December 31, 2026 about 30% growth Non-GAAP
    “Adjusted EPS Growth 1 >30% >25%” source
  • Adjusted Operating Margin (bps YoY expansion) year ending December 31, 2026 about 100 Non-GAAP
    “Adjusted Operating Margin 1 ~100 bps YoY expansion ~100 bps YoY expansion” source
Show 8 more items
  • Total Omnipod revenue growth (constant currency) year ending December 31, 2026 21% growth to 23% growth Non-GAAP
    “Total Omnipod 18% - 20% 21% - 23% 22% - 24%” source
  • U.S. Omnipod revenue growth year ending December 31, 2026 17% growth to 19% growth Non-GAAP
    “U.S. Omnipod 14% - 16% 17% - 19% 20% - 22%” source
  • International Omnipod revenue growth (constant currency) year ending December 31, 2026 30% growth to 32% growth Non-GAAP
    “International Omnipod 28% - 30% 30% - 32% 26% - 28%” source
  • Drug Delivery revenue growth year ending December 31, 2026 about -40% growth Non-GAAP
    “Drug Delivery ~(20%) ~(40%) ~(50%)” source
  • Total Omnipod revenue growth (constant currency) quarter ending September 30, 2026 18% growth to 20% growth Non-GAAP
    “Total Omnipod 18% - 20% 21% - 23% 22% - 24%” source
  • U.S. Omnipod revenue growth quarter ending September 30, 2026 14% growth to 16% growth Non-GAAP
    “U.S. Omnipod 14% - 16% 17% - 19% 20% - 22%” source
  • International Omnipod revenue growth (constant currency) quarter ending September 30, 2026 28% growth to 30% growth Non-GAAP
    “International Omnipod 28% - 30% 30% - 32% 26% - 28%” source
  • Drug Delivery revenue growth quarter ending September 30, 2026 about -20% growth Non-GAAP
    “Drug Delivery ~(20%) ~(40%) ~(50%)” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Insulet Corporation's revenue by +16.4% next year and +17.6% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+15.0%, weight 57%) , management guidance (+15.6%, weight 18%) and the company's own record (+20.0%, weight 25%) . How the weights are set.

Analyst recommendations

26 analysts, Oct 2026
Buy1558%
Hold1142%
Sell00%

Monthly trend

  1. Oct 20264111126
  2. Sep 20264111025
  3. Aug 20264111025
  4. Jul 2026516425

Counts of recommendations published by analysts covering Insulet Corporation, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
9.2%
of tradable shares
Days to cover
3.51
at average volume
Short interest, 1 month
+11%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
0.3%
of shares
Employees
5,400
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −50.9%

$313.01 on October 31, 2025 to $153.61

ThenNowEffect
Revenue (last 12 months) $2.4bn $3.1bn +29.4%
Net margin 10.0% 12.3% +22.8%
P/E multiple 97.0x 28.9x −70.2%
Share count 73m 71m +3.7%

Biggest factor: p/e multiple.

Last 3 years −5.5%

$162.58 on November 3, 2023 to $153.61

ThenNowEffect
Revenue (last 12 months) $1.5bn $3.1bn +108.4%
Net margin 4.3% 12.3% +186.3%
P/E multiple 181.4x 28.9x −84.1%
Share count 70m 71m −0.6%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
PODD+4%+11%−26%+20%+9%−46%
Industry peers (median)−9%−37%−8%−20%−16%−13%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
PODD58%58%33%58%42%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
PODD−26%−33%−61%−26%−19%−56%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 63% from September 9, 2025 to September 30, 2026. Getting back needed a 170% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$130.47 – $346.36
From 52-week high
−55.7%
vs 50-day average
+8.9%
vs 200-day average
−13.8%
Volatility (1 year)
45%
Beta vs S&P 500
0.24

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±6.6%
After a week
8 up, 4 down
typical move ±8.9%
After a month
5 up, 7 down
typical move ±11.1%
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 −16.5% −0.4% −13.0% −9.7%
May 6, 2026 −4.3% +1.1% −11.2% −8.5%
February 18, 2026 +1.1% +0.2% +0.7% −7.2%
November 6, 2025 +1.7% −1.0% +5.8% −5.8%
August 7, 2025 +10.7% +0.7% +13.9% +26.1%
May 8, 2025 +17.5% +0.6% +21.8% +15.6%
February 20, 2025 −0.3% −2.1% −5.8% −5.4%
November 7, 2024 +12.0% +1.2% +9.1% +10.8%
August 8, 2024 −4.3% +2.8% +2.4% +15.1%
July 26, 2024 +0.5% +1.2% +2.9% −5.3%
May 9, 2024 −5.5% +0.7% +5.6% +9.4%
February 22, 2024 −4.3% +2.1% −14.8% −14.6%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Insulet Corporation’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Includes results

A results date falls inside these options’ life. Implied volatility is meant to be higher for that, so we do not call it rich.

  • Implied is 1.70× the last 60 days’ realised volatility .
  • Puts and calls are priced at about the same implied volatility.
  • Why: an earnings date falls inside the option's life, so implied volatility is expected to be high.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: fundamentals grade B (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Insulet Corporation in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Insulet Corporation
$1.5B $2B $2.5B $3B $3.5B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $1.6B Revenue (TTM), FY23 Q4: $1.7B Revenue (TTM), FY24 Q1: $1.8B Revenue (TTM), FY24 Q2: $1.9B Revenue (TTM), FY24 Q3: $2B Revenue (TTM), FY24 Q4: $2.1B Revenue (TTM), FY25 Q1: $2.2B Revenue (TTM), FY25 Q2: $2.4B Revenue (TTM), FY25 Q3: $2.5B Revenue (TTM), FY25 Q4: $2.7B Revenue (TTM), FY26 Q1: $2.9B Revenue (TTM), FY26 Q2: $3.1B $3.1B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $1.6B
FY23 Q4 $1.7B
FY24 Q1 $1.8B
FY24 Q2 $1.9B
FY24 Q3 $2B
FY24 Q4 $2.1B
FY25 Q1 $2.2B
FY25 Q2 $2.4B
FY25 Q3 $2.5B
FY25 Q4 $2.7B
FY26 Q1 $2.9B
FY26 Q2 $3.1B
Revenue growth, TTM YoY Insulet Corporation
20% 25% 30% 35% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 25.2% Revenue growth, TTM YoY, FY23 Q4: 30.0% Revenue growth, TTM YoY, FY24 Q1: 30.2% Revenue growth, TTM YoY, FY24 Q2: 27.8% Revenue growth, TTM YoY, FY24 Q3: 27.4% Revenue growth, TTM YoY, FY24 Q4: 22.1% Revenue growth, TTM YoY, FY25 Q1: 23.5% Revenue growth, TTM YoY, FY25 Q2: 26.0% Revenue growth, TTM YoY, FY25 Q3: 27.1% Revenue growth, TTM YoY, FY25 Q4: 30.7% Revenue growth, TTM YoY, FY26 Q1: 31.9% Revenue growth, TTM YoY, FY26 Q2: 29.4% 29.4%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 25.2%
FY23 Q4 30.0%
FY24 Q1 30.2%
FY24 Q2 27.8%
FY24 Q3 27.4%
FY24 Q4 22.1%
FY25 Q1 23.5%
FY25 Q2 26.0%
FY25 Q3 27.1%
FY25 Q4 30.7%
FY26 Q1 31.9%
FY26 Q2 29.4%
Operating margin (TTM) Insulet Corporation
5% 10% 15% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 8.8% Operating margin (TTM), FY23 Q4: 13.0% Operating margin (TTM), FY24 Q1: 14.0% Operating margin (TTM), FY24 Q2: 14.6% Operating margin (TTM), FY24 Q3: 15.4% Operating margin (TTM), FY24 Q4: 14.9% Operating margin (TTM), FY25 Q1: 15.5% Operating margin (TTM), FY25 Q2: 17.3% Operating margin (TTM), FY25 Q3: 17.3% Operating margin (TTM), FY25 Q4: 17.5% Operating margin (TTM), FY26 Q1: 17.5% Operating margin (TTM), FY26 Q2: 16.9% 16.9%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 8.8%
FY23 Q4 13.0%
FY24 Q1 14.0%
FY24 Q2 14.6%
FY24 Q3 15.4%
FY24 Q4 14.9%
FY25 Q1 15.5%
FY25 Q2 17.3%
FY25 Q3 17.3%
FY25 Q4 17.5%
FY26 Q1 17.5%
FY26 Q2 16.9%
FCF margin (TTM) Insulet Corporation
0% 5% 10% 15% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 2.0% FCF margin (TTM), FY23 Q4: 3.6% FCF margin (TTM), FY24 Q1: 7.7% FCF margin (TTM), FY24 Q2: 9.2% FCF margin (TTM), FY24 Q3: 11.0% FCF margin (TTM), FY24 Q4: 14.3% FCF margin (TTM), FY25 Q1: 12.8% FCF margin (TTM), FY25 Q2: 16.6% FCF margin (TTM), FY25 Q3: 16.2% FCF margin (TTM), FY25 Q4: 13.2% FCF margin (TTM), FY26 Q1: 13.7% FCF margin (TTM), FY26 Q2: 9.0% 9.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 2.0%
FY23 Q4 3.6%
FY24 Q1 7.7%
FY24 Q2 9.2%
FY24 Q3 11.0%
FY24 Q4 14.3%
FY25 Q1 12.8%
FY25 Q2 16.6%
FY25 Q3 16.2%
FY25 Q4 13.2%
FY26 Q1 13.7%
FY26 Q2 9.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Insulet took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $2.7B
  2. Cost of revenue $768M · 28.4%
  3. Gross profit $1.9B · 71.6%
  4. Research and development $301M · 11.1%
  5. Selling, general and admin $1.2B · 43.0%
  6. Operating income $474M · 17.5%
  7. Income tax $92.4M · 3.4%
  8. Interest and other $134M · 5.0%
  9. Net income $247M · 9.1%

Shares of revenue. Source: Insulet's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 66 97 152 211 247 231 264 367 464 564 738 904 1,099 1,305 1,697 2,072 2,708 3,054
Gross profit 18 44 67 92 112 127 133 211 277 370 480 582 752 806 1,160 1,446 1,940 2,170
EBITDA −54 −34 −34 −25 −17 3 −33 3 7 43 78 107 183 101 293 390 564 615
Operating income −59 −39 −42 −36 −29 −9 −49 −11 −7 27 50 52 126 38 220 309 474 516
Net income −72 −61 −46 −52 −45 −52 −74 −29 −27 3 12 7 17 5 206 418 247 375
Diluted EPS −$2.43 −$1.54 −$0.98 −$1.08 −$0.83 −$0.93 −$1.29 −$0.48 −$0.46 $0.05 $0.19 $0.10 $0.24 $0.07 $2.94 $5.78 $3.48 $5.32
Growth (year on year)
Revenue — +46.8% +57.0% +38.8% +16.9% −6.4% +14.1% +39.1% +26.4% +21.6% +30.9% +22.5% +21.5% +18.8% +30.0% +22.1% +30.7% +29.4%
EBITDA — — — — — — — — — — +81.2% +37.2% +71.6% −45.0% +190.6% +33.0% +44.8% +24.5%
Operating income — — — — — — — — — — +82.5% +3.0% +144.7% −70.2% +485.4% +40.3% +53.4% +26.6%
Net income — — — — — — — — — — — — — — — +102.8% −40.9% +59.0%
Diluted EPS — — — — — — — — — — — — — — — +96.6% −39.8% +64.8%
Margins
Gross margin 27.7% 45.1% 43.8% 43.7% 45.5% 55.0% 50.5% 57.5% 59.8% 65.7% 65.1% 64.4% 68.4% 61.7% 68.3% 69.8% 71.6% 71.1%
EBITDA margin −82.0% −34.6% −22.3% −11.8% −7.0% 1.4% −12.5% 0.9% 1.4% 7.6% 10.6% 11.8% 16.7% 7.7% 17.3% 18.8% 20.8% 20.1%
Operating margin −89.9% −39.8% −27.9% −17.0% −11.8% −3.8% −18.5% −2.9% −1.6% 4.9% 6.8% 5.7% 11.5% 2.9% 13.0% 14.9% 17.5% 16.9%
Net margin −109.6% −63.1% −30.1% −24.5% −18.2% −22.3% −27.9% −7.9% −5.8% 0.6% 1.6% 0.8% 1.5% 0.4% 12.2% 20.2% 9.1% 12.3%
Free-cash-flow margin −79.5% −43.5% −24.0% −18.9% −1.6% −1.1% −8.8% −1.7% −7.0% −21.6% −8.8% −5.0% −16.4% −0.3% 4.1% 14.7% 13.9% 9.6%
Cash flow
Cash from operations −49 −36 −25 −29 3 9 −13 16 41 36 98 84 −68 119 146 430 569 511
Capital spending 3 7 11 11 7 11 11 22 74 157 164 129 112 123 76 125 192 218
Free cash flow −52 −42 −37 −40 −4 −3 −23 −6 −33 −122 −65 −45 −180 −4 70 305 378 294
Stock-based pay 4 5 8 10 13 23 19 24 32 38 29 36 34 41 48 69 63 78
Free cash flow after stock pay −57 −47 −44 −50 −17 −25 −42 −30 −64 −159 −94 −81 −214 −45 22 236 315 216
Balance sheet
Cash 128 113 94 57 150 151 123 137 273 114 214 907 806 690 704 953 716 535
Total debt 0 69 109 118 114 164 172 333 — 592 888 1,059 1,274 1,402 1,416 1,380 949 948
Net debt (negative = net cash) −128 −44 15 61 −36 13 49 196 −273 478 674 152 468 712 712 427 233 414
Diluted shares — 40m 47m 48m 54m 56m 57m 57m 58m 61m 62m 66m 69m 70m 74m 74m 72m 71m
Returned to shareholders
Buybacks — — — — — — — — — — — — — — 0 0 60 330
Total returned — — — — — — — — — — — — — — 0 0 60 330

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

5 of 7 checks passed · June 30, 2026
What it owns · $3.2bn
Short-term assets $1.8bnLonger-term assets $1.3bn
What it owes, and who funded it · $3.2bn
Short-term liabilities $744mLonger-term liabilities $999mShareholders' equity $1.4bn
  • Short-term assets cover short-term liabilities $1.8bn of assets due within a year against $744m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.8bn short-term assets against $999m of longer-dated liabilities.
  • More cash than debt $535m of cash against $948m of debt.
  • Debt below 40% of shareholders' equity Debt is 67% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 224% to 67% over five years.
  • A year's operating cash flow covers at least 20% of debt $511m of operating cash flow against $948m of debt.
  • Operating profit covers interest at least five times over Operating income of $516m against $59m of interest.

From Insulet Corporation's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$330M
Returned to shareholders
120%
of free cash flow
Buybacks, last 3 fiscal years
$59.6M
Diluted share count
−3.6%
year over year
Total shareholder yield
3.0%
dividends 0.0% + buybacks 3.0% of market value
R&D spending
11.3%
of revenue
Sales & admin spending
42.9%
of revenue
Days sales outstanding
70 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in health care equipment
Last 12 months unless stated PODD GMED RVTY QDEL ENOV TFX Median
Revenue, last 12 months $3.1bn $3.1bn $2.9bn $2.7bn $2.3bn $2.3bn $99m
Revenue growth, last 12 months 29.4% 19.7% 4.1% −2.5% 4.9% 30.7% 9.2%
Revenue growth, 3-year average 27.7% 42.1% 0.9% −5.4% 12.2% −8.0% 13.5%
Revenue growth, latest quarter 23.5% 5.9% 1.3% 2.8% 3.2% 28.9% 10.2%
Gross margin 71.1% 68.5% 60.1% — 61.1% 54.9% 61.2%
Operating margin 16.9% 20.3% 12.3% −30.8% −45.1% 2.0% −8.5%
Operating margin, 3-year average 16.2% 11.4% 12.0% −34.4% −28.5% 5.7% −17.9%
Net margin 12.3% 17.0% 8.2% −39.2% −48.0% −45.8% −12.0%
Cash from operations / revenue 16.7% 28.9% 21.6% −2.1% 11.8% 10.8% −1.9%
Free-cash-flow margin 9.0% 24.0% 19.2% −7.9% 2.8% 7.5% −3.9%
Free-cash-flow margin, 3-year average 11.6% 17.1% 17.1% −4.5% −0.2% 7.7% −7.0%
Stock pay / revenue 2.6% 1.6% 0.3% 1.7% 1.5% 1.1% 6.1%
Change in share count −3.6% −1.4% −6.2% 0.9% 1.7% −4.0% 4.0%

Median of all 134 companies we cover in health care equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

134 health care equipment companies
Measure Company Peer median Rank
Revenue growth Growth 29.4% 9.1% 26 of 129
Change in growth rate Growth -2.5pp -0.6pp 89 of 129
Gross margin Profitability 71.1% 61.9% 37 of 123
Operating margin Profitability 16.9% -8.3% 17 of 132
Net margin Profitability 12.3% -12.0% 21 of 133
Free-cash-flow margin Cash generation 9.0% -3.4% 33 of 128
Stock pay as % of revenue Cash generation 2.6% 6.1% 34 of 123
Long-term debt as % of assets Balance sheet 29.4% 24.2% 53 of 87
Change in share count Balance sheet -3.6% 3.3% 12 of 115
Days sales outstanding Balance sheet 70 days 57 days 85 of 118

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Product Omnipod $2.7B 98.7% ▲ 31.5%
U.S.Omnipod $1.9B 71.8% ▲ 27.2%
International Omnipod $754M 28.2% ▲ 44.1%
Drug Delivery $34.1M 1.3% ▼ 12.3%
Geography
Region Revenue Share YoY
United States $2B 72.1% ▲ 26.2%
Outside the US $754M 27.9% ▲ 44.1%

From Insulet Corporation's 10-K filed February 18, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$10.9B
Institutions reporting
719
Shares held vs prior quarter
▲ 3.0%
Positions opened / closed
79 / 135

Top buyers and sellers, Q2 2026: 406 institutions bought and 383 sold ; the biggest buyer was Two Sigma Investments, LP (+1.1M shares) and the biggest seller FMR LLC (−3.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1B 6.7M 9.3% ▲ 4.9%
Vanguard Capital Management LLC $689M 4.5M 6.3% ▼ 1.2%
State Street Corp $487M 3.2M 4.5% ▲ 5.1%
Vanguard Portfolio Management LLC $468M 3.1M 4.3% ▼ 10.8%
AQR Capital Management LLC $374M 2.5M 3.4% ▲ 53.6%
Baillie Gifford & Co $311M 2.0M 2.9% ▲ 0.6%
Geode Capital Management, LLC $304M 2.0M 2.8% ▼ 1.1%
Two Sigma Investments, LP $290M 1.9M 2.7% ▲ 149.7%
Invesco Ltd. $258M 1.7M 2.4% ▲ 54.5%
T. Rowe Price Investment Management, Inc. $230M 1.5M 2.1% ▼ 16.7%
Morgan Stanley $225M 1.5M 2.1% ▲ 29.1%
Arrowstreet Capital, Limited Partnership $224M 1.5M 2.1% ▲ 19.6%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Insulet Corporation's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $2.9M 6 trades by 4 insiders, last 12 months Insider sales History → $602,396 2 trades by 2 insiders · 0% under pre-set plans
Net ▲ $2.3M net buying
Insider Date Trade Shares Price Value
Mcevoy Ashley President and CEO August 21, 2026 Buy 1,100 $147.47 $162,217
Weatherman Elizabeth H Director June 3, 2026 Buy 3,450 $144.20 $497,490
Borio Luciana Director June 3, 2026 Sell 418 $143.27 $59,887
Stonesifer Timothy C. Director June 3, 2026 Buy 2,790 $143.51 $400,393
Minogue Michael R Director February 25, 2026 Buy 2,030 $246.23 $499,847
Mcevoy Ashley President and CEO February 20, 2026 Buy 4,300 $239.35 $1M
Frederick Wayne A.I. Director December 15, 2025 Sell 1,851 $293.09 $542,510
Stonesifer Timothy C. Director December 5, 2025 Buy 962 $311.73 $299,884

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 11 trades and filings

In the last 12 months, 1 member of Congress disclosed 1 purchase and 1 sale of Insulet Corporation shares.

  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (partial), $1,001 - $15,000, traded September 18, 2026, filed October 12, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded August 18, 2026, filed September 10, 2026
  • Daniel S. Goldman(D-NY 10):Sale (full), $1,001 - $15,000, traded July 12, 2023, filed August 13, 2023

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 5, 2026 estimated from the company's past filing pattern, not announced

  • August 5, 2026
  • May 6, 2026
  • February 18, 2026
  • November 6, 2025
  • August 7, 2025
  • May 8, 2025

Recent SEC filings

Data status

When each part of this page on Insulet Corporation was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Insulet Corporation in brief

What does Insulet Corporation do?
Insulet Corporation is a US-listed company in the health care equipment industry. Its financial year ends in December.
What is Insulet Corporation's stock ticker?
Insulet Corporation trades under the ticker PODD on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Insulet Corporation's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Insulet Corporation reported revenue of $3.1B, 29.4% higher than a year earlier, according to its SEC filings.
What is Insulet Corporation's free cash flow?
Insulet Corporation's free-cash-flow margin is 9.0% of revenue over the trailing twelve months, ranking 33 of the 128 health care equipment companies we cover.
What is Insulet Corporation's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Insulet Corporation's free cash flow after stock-based pay gives ~$190 per share in the base case, and ~$140–$240 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Insulet Corporation's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Insulet Corporation buying back stock, and does it pay a dividend?
Insulet Corporation spent $330M on share repurchases over the trailing twelve months, and its diluted share count fell 3.6% over the year.
What is Insulet Corporation's market cap?
On November 2, 2026, Insulet Corporation's market capitalisation was about $10.8B, with a price-to-earnings ratio of 28.9 and net debt of $414M. Market figures come from third-party market data and may be delayed.
How much debt does Insulet Corporation have?
Insulet Corporation's debt-to-equity ratio is 66.7%, from its latest balance sheet (224.5% five years earlier). The financial health section below sets out its other solvency checks.
Who are Insulet Corporation's competitors?
In our Health Care Equipment peer group, the companies closest to Insulet Corporation are Globus Medical Inc, Revvity, Quidelortho Corp, Enovis Corp and Teleflex Inc. The side-by-side comparison below sets their revenue, margins and growth against Insulet Corporation's.
Are insiders buying or selling Insulet Corporation stock?
Over the last 12 months, Insulet Corporation's directors and officers reported 6 open-market purchases and 2 sales on Form 4. The insider trading page charts every trade.
When is Insulet Corporation's next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Insulet Corporation announces its own schedule.