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: 0.37
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

$30.09

10 Aug
2026

1.220

OPEN

$29.69

4.23%

HIGH

$30.35

2,580,157

LOW

$29.69

TARGET
$38.875 29.2% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
RMD: 1
Title FY27
Forecast		 FY28
Forecast
EPS (cps) 178.2 xxx
DPS (cps) 39.3 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 17.5 xxx
Dividend Yield 1.3% xxx
Div Pay Ratio(%) 22.0% 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: N/A

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 N/A

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: 13/05 - (franking ex-div 5.90c)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx154.5
DPS All xxxxxxxxxxxxxxx35.2
Sales/Revenue xxxxxxxxxxxxxxx8,343.1 M
Book Value Per Share xxxxxxxxxxxxxxx-
Net Operating Cash Flow xxxxxxxxxxxxxxx2,664.9 M
Net Profit Margin xxxxxxxxxxxxxxx26.94 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx24.16 %
Return on Invested Capital xxxxxxxxxxxxxxx21.80 %
Return on Assets xxxxxxxxxxxxxxx17.69 %
Return on Equity xxxxxxxxxxxxxxx24.16 %
Return on Total Capital xxxxxxxxxxxxxxx26.85 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx1,918.3 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 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx417 M
Long Term Debt xxxxxxxxxxxxxxx775 M
Total Debt xxxxxxxxxxxxxxx1,192 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx2,121 M
Price To Book Value xxxxxxxxxxxxxxx-

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx261.5 M
Capex % of Sales xxxxxxxxxxxxxxx3.13 %
Cost of Goods Sold xxxxxxxxxxxxxxx3,316 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx2,193 M
Research & Development xxxxxxxxxxxxxxx558 M
Investments - Total xxxxxxxxxxxxxxx-

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.7

No. Of Recommendations

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

Morgans

xx/xx/xxxx

1

xxx

$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

3

xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

10/08/2026

3

Equal-weight

-

-

On further analysis, Morgan Stanley notes revenue and gross profit were in line with forecasts in the June quarter, though EBIT was lower than expected because of higher R&D costs.

ResMed has highlighted it expects a decline in first quarter revenue, amid seasonal weakness as well as the divestment of MatrixCare and the impact associated with the Astral recall.

Morgan Stanley is yet to include the divestment of MatrixCare in its forecasts and incorporates minor revisions to operating assumptions.

The broker states price increases need to be delivered over the second to fourth quarters to meet FY27 guidance for constant currency revenue growth of 5%-7%.

Equal-weight rating. Target is reduced to US$227 from US$229. Industry view is In-Line.

****

On a first glance, Morgan Stanley finds ResMed's June quarter revenue was in line with consensus. Compositionally, Americas revenue was -1% below with rest-of-world 3% above.

The gross margin of 62.3% was below 62.7% expectation. Earnings were -3% below on a lower than expected earnings margin (35.2% versus 36.2% expectation).

Equal-weight and US$229 target retained. Industry view: In Line.

FORECAST
Morgan Stanley forecasts a full year FY27 EPS of 177.50 cents.
Morgan Stanley forecasts a full year FY28 EPS of 190.07 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

Jarden

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Canaccord Genuity

22/07/2026

1

Buy

$40.00

32.93%

Canaccord Genuity maintains its Buy rating for ResMed with its target price lowered to $40.00 from $44.50 following adjustments for the MatrixCare divestment and the Noctrix acquisition.

Commentary states the divestment of MatrixCare for US$490m reflects ongoing challenges in delivering connected care cost-savings across post-acute settings.

The US$340m acquisition of Noctrix introduces the FDA-authorised Nidra platform targeting Restless Leg Syndrome, adding an estimated US$30m in FY27 revenue while lifting near-term operating expenses.

The analyst notes non-GAAP earnings per share for FY26 are projected at US$11.07, representing 15.8% growth over the prior year.

Despite competitive overhangs and emerging alternative therapies, Canaccord maintains current valuation multiples near decade lows offer attractive long-term entry points supported by core CPAP demand.
Access Extra Coverage Research History >

RMD STOCK CHART

FNArena News on RMD

1
FNArena Corporate Results Monitor – 10-08-2026

Aug 10 2026 - Australia
2
FNArena Corporate Results Monitor – 07-08-2026

Aug 07 2026 - Australia
3
Rudi’s View: That’s The Way Markets Crumble

Aug 06 2026 - Rudi's View
4
Rudi’s View: Final Preparations For August

Aug 05 2026 - Rudi's View
5
Rudi’s View: The August Earnings Test Is Approaching

Jul 29 2026 - Rudi's View

Latest Medical Equipment & Devices News

1
Are Headwinds Building For ResMed In FY27?

Jul 14 2026 - Australia
2
A Technical Breakout For ResMed

Jul 07 2026 - Technicals
3
Awaiting Catapult Sports’ Fundamental Re-Rating

Jun 15 2026 - Small Caps
4
Treasure Chest: Pro Medicus

Jun 04 2026 - Treasure Chest
5
Cochlear’s Shock Downgrade Raises Concerns

Apr 23 2026 - Australia
6
GLP-1s Drive Strong Quarter For ResMed

Feb 02 2026 - Australia
7
ImpediMed Ready To Scale Up

Dec 16 2025 - Small Caps
8
Fisher & Paykel Healthcare’s Superior Profile

Dec 02 2025 - Australia
9
4DMedical Poised For A Recovery

Nov 25 2025 - Technicals
10
Treasure Chest: Pro Medicus

Nov 12 2025 - Treasure Chest