How Does This Sleep Equipment Maker Operate?
Resmed Inc develops and sells equipment and connected tools used in sleep and respiratory care. The company’s products are used in ongoing therapy settings, tying the business closely to patient adherence and device replacement cycles. With a market capitalization around USD 29.9 billion, it operates at large-cap scale. The stock trades on the New York Stock Exchange.
Are Revenue Gains Supporting Profit Margins?
FundamentalsFor the year ended June 30, 2025 (reported in USD), revenue was about USD 5.1 billion, alongside EBIT of roughly USD 1.7 billion and net income of about USD 1.4 billion. Revenue grew 21.9% versus the prior annual period, while trailing margins were high, including a 61.56% gross margin and a 27.44% net profit margin.
On the balance sheet, cash of about USD 1.2 billion exceeded total debt of roughly USD 668.3 million. Spending was relatively light in the period, with capital expenditure near USD 89.9 million and depreciation and amortization around USD 198.5 million, contributing to a cash flow proxy of about USD 1.5 billion.
Is the Market Discounting Its Cash Strength?
DCF / MultiplesAt USD 206.10, the shares trade below the DCF-derived fair value range implied by weaker-
Valuation Appears Supportive Overall
TakeawayThe balance sheet starts from a position of net cash. The case leans on keeping margins and cash generation consistent. If profitability cools, today’s multiples may feel less forgiving. Overall, valuation looks supportive, but not without execution risk.