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ResMed| key statistics and ratios

In fiscal 2026, ResMed| had return on equity of 24.3% and a net margin of 26.9%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Fiscal year2010Jun 20102011Jun 20112012Jun 20122013Jun 20132014Jun 20142015Jun 20152016Jun 20162017Jun 20172018Jun 20182019Jun 20192020Jun 20202021Jun 20212022Jun 20222023Jun 20232024Jun 20242025Jun 20252026Jun 2026LTMSept 2026
Net margin17.4%18.3%18.6%20.3%22.2%21.0%19.2%16.6%13.5%15.5%21.0%14.8%21.8%21.3%21.8%27.2%26.9%27.8%
Return on equity14.8%15.0%15.3%19.1%20.5%21.1%21.5%18.7%15.7%19.6%27.2%17.6%25.0%24.0%22.7%25.9%24.3%25.4%
Return on assets11.7%12.3%12.1%14.1%15.1%15.5%13.0%10.2%9.7%11.3%14.3%10.2%15.9%15.2%15.0%18.6%17.8%18.5%
Effective tax rate27.1%25.3%23.2%20.2%19.9%19.0%19.8%18.3%39.5%22.0%15.2%46.3%18.8%18.5%19.3%16.5%20.6%20.8%
R&D as % of revenue6.9%7.4%8.0%7.9%7.6%6.8%6.5%7.0%6.6%6.9%6.8%7.0%7.1%6.8%6.6%6.4%6.7%6.9%
SG&A as % of revenue30.1%29.9%29.4%28.4%29.0%28.5%26.5%26.8%25.7%24.7%22.9%21.0%20.6%20.7%19.6%19.3%19.8%20.5%
Dividends ÷ net income———31.6%41.0%44.6%47.7%54.4%63.2%52.3%36.2%47.8%31.5%28.8%27.7%22.2%23.0%22.4%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

7 of 7 checks passed · September 30, 2026
What it owns · $8.2bn
Short-term assets $3.5bnLonger-term assets $4.7bn
What it owes, and who funded it · $8.2bn
Short-term liabilities $1.3bnLonger-term liabilities $940mShareholders' equity $5.9bn
  • Short-term assets cover short-term liabilities $3.5bn of assets due within a year against $1.3bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $3.5bn short-term assets against $940m of longer-dated liabilities.
  • More cash than debt $1.0bn of cash against $410m of debt.
  • Debt below 40% of shareholders' equity Debt is 7% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 20% to 7% over five years.
  • A year's operating cash flow covers at least 20% of debt $1.8bn of operating cash flow against $410m of debt.
  • Operating profit covers interest at least five times over No material interest expense reported.

From ResMed|'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.

Moat

88 /100

Strong moat

How hard ResMed|'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 20 / 20

    Cash operating profit has been a median 23.7% of total assets over 10 years.

  • Pricing power 19 / 20

    Gross margin has been a median 57.5%, moving by 1.6 percentage points (standard deviation) across 10 years.

  • Durability 19 / 20

    Operating margin has been a median 28.1%; its worst year was 20.9%.

  • Cash conversion 19 / 20

    Free cash flow was positive in 10 of 10 years, at a median 18.5% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 32.3% over five years; stock-based pay has been a median 2.0% 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.

Compare with peers

Head to head: RMD vs STEBLCO vs RMDDXCM vs RMDEW vs RMD

More: Health Care Equipment stocks compared, Health Care sector, rankings of US companies

Figures from ResMed|'s SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to ResMed|.