olivLaw · US equity research
ResMed Inc. RMD
Surgical & Medical Instruments & Apparatus · SIC 3841 · Vertical: Surgical & Medical Instruments & Apparatus (SIC 3841)
ResMed is a global leader in digital health and cloud-connected medical devices focused on sleep apnea and home respiratory care. Fiscal 2026 revenue reached 5.7 billion USD, up 10%, with GAAP gross margin of 61.1%. The company agreed to sell its MatrixCare business for 490 million USD to concentrate investment on sleep and breathing health.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, ResMed Inc. (RMD) stock was 240.51 USD (+5.91% on the day), with market capitalisation 33.8 bn USD, P/E 21.9 on diluted EPS of 10.98 USD over the last 12 months, dividend yield 1.02%, beta 0.61, 52-week range 182.82–275.96 USD. Latest reported quarter (Q1 2027): revenue of 1.4 bn USD (+5.9% YoY), net income of 418.4 m USD (+20.0% YoY), diluted EPS 2.92 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 52.7
- neutral
- Bollinger (20, 2)
- 222.87 – 258.91
- in the lower half of the band · %B 0.49 · band width 15.0%
- SMA 50 / 200
- 231.79 / 224.53
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 2.50 / 4.50
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +7.9% | −1.1% | +9.0 pp | — |
| 3 months | +7.4% | −0.5% | +7.8 pp | — |
| 6 months | +14.7% | +4.4% | +10.3 pp | — |
| Year to date | −0.1% | +12.3% | −12.5 pp | — |
| 1 year | −2.4% | +13.5% | −15.9 pp | +24.9% |
| 3 years | +57.4% | +76.4% | −19.0 pp | +13.6% |
| 5 years | −7.7% | +63.7% | −71.4 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q1 2027 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.3 bn | 1.3 bn | 1.3 bn | 1.3 bn | 1.4 bn | 1.4 bn | 1.5 bn | 1.4 bn |
| Cost of revenue | 530.8 m | 525.3 m | 527.9 m | 517.9 m | 544.1 m | 540.4 m | 602.4 m | 544.2 m |
| Gross profit | 751.3 m | 766.4 m | 820.1 m | 817.7 m | 878.7 m | 891.0 m | 861.2 m | 870.6 m |
| Research & development | 81.4 m | 83.9 m | 86.4 m | 89.5 m | 91.0 m | 94.3 m | 105.7 m | 102.9 m |
| SG&A | 241.6 m | 245.3 m | 267.2 m | 281.6 m | 278.4 m | 285.7 m | 296.3 m | 314.7 m |
| Operating income | 417.2 m | 426.3 m | 454.5 m | 446.5 m | 491.7 m | 499.8 m | 448.7 m | 453.0 m |
| Depreciation & amortisation | 46.4 m | 43.7 m | 63.6 m | 47.7 m | 49.9 m | 59.0 m | 44.8 m | 41.7 m |
| Interest expense | — | — | — | 7.1 m | — | — | — | 4.8 m |
| Pre-tax income | 418.3 m | 417.7 m | 458.1 m | 446.8 m | 496.1 m | 502.3 m | 474.2 m | 539.2 m |
| Income tax | 73.7 m | 52.7 m | 78.3 m | 98.3 m | 103.6 m | 103.6 m | 90.7 m | 120.7 m |
| Net income | 344.6 m | 365.0 m | 379.7 m | 348.5 m | 392.6 m | 398.7 m | 383.4 m | 418.4 m |
| Diluted EPS | 2.34 | 2.48 | 2.58 ≈ | 2.37 | 2.68 | 2.74 | 2.64 ≈ | 2.92 |
| Operating cash flow | 308.6 m ≈ | 578.7 m ≈ | 538.8 m | 457.3 m | 339.7 m ≈ | 554.1 m ≈ | 454.6 m | 422.4 m |
| Capex | 20.6 m ≈ | 20.8 m ≈ | 30.6 m | 43.0 m | 28.5 m ≈ | 33.7 m ≈ | 51.1 m | 48.7 m |
| Dividends paid | 77.7 m ≈ | 77.7 m ≈ | 77.6 m | 87.8 m | 87.6 m ≈ | 87.2 m ≈ | 87.1 m | 95.0 m |
| Share repurchases | 75.0 m ≈ | 75.0 m ≈ | 100.0 m | 150.0 m | 175.0 m ≈ | 175.0 m ≈ | 200.0 m | 936.4 m |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 9 percentile of its own 44-quarter history (min 18.7, median 34.8, max 77.3; quarters with earnings only).
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.6 bn | 3.0 bn | 3.2 bn | 3.6 bn | 4.2 bn | 4.7 bn | 5.1 bn | 5.7 bn |
| Revenue YoY | +11.4% | +13.4% | +8.1% | +11.9% | +18.0% | +10.9% | +9.8% | +9.9% |
| Net income | 404.6 m | 621.7 m | 474.5 m | 779.4 m | 897.6 m | 1.0 bn | 1.4 bn | 1.5 bn |
| Net income YoY | +28.2% | +53.7% | −23.7% | +64.3% | +15.2% | +13.7% | +37.2% | +8.8% |
| Diluted EPS | 2.80 | 4.27 | 3.24 | 5.30 | 6.09 | 6.92 | 9.51 | 10.43 |
| Diluted EPS YoY | +27.9% | +52.5% | −24.1% | +63.6% | +14.9% | +13.6% | +37.4% | +9.7% |
| net % | 15.5% | 21.0% | 14.8% | 21.8% | 21.3% | 21.8% | 27.2% | 26.9% |
| Free cash flow | 390.3 m | 706.9 m | 634.0 m | 216.3 m | 573.6 m | 1.3 bn | 1.7 bn | 1.6 bn |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 30 Jun 2026
- Cash
- 1.5 bn USD
- Financial debt
- 659.4 m USD
- Net debt
- -809.9 m USD
- Equity
- 6.6 bn USD
- Total assets
- 9.0 bn USD
- Debt / equity
- 0.10x
- Current ratio
- 3.10x
- ROE
- 24.3%
- ROA
- 17.8%
- FCF margin
- 29.2%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 3.2 bn | 3.6 bn | 4.2 bn | 4.7 bn | 5.1 bn | 5.7 bn | SEC (XBRL)· 13 Aug 2026verified |
| Cost of revenue | 1.4 bn | 1.6 bn | 1.9 bn | 2.0 bn | 2.1 bn | 2.2 bn | SEC (XBRL)· 13 Aug 2026verified |
| Gross profit | 1.8 bn | 2.0 bn | 2.4 bn | 2.7 bn | 3.1 bn | 3.5 bn | SEC (XBRL)· 13 Aug 2026verified |
| Research & development | 225.3 m | 253.6 m | 287.6 m | 307.5 m | 331.3 m | 378.3 m | SEC (XBRL)· 13 Aug 2026verified |
| SG&A | 670.4 m | 737.5 m | 874.0 m | 917.1 m | 993.1 m | 1.1 bn | SEC (XBRL)· 13 Aug 2026verified |
| Operating income | 903.7 m | 1.0 bn | 1.1 bn | 1.3 bn | 1.7 bn | 1.9 bn | SEC (XBRL)· 13 Aug 2026verified |
| Depreciation & amortisation | 156.8 m | 159.6 m | 165.2 m | 176.9 m | 198.5 m | 201.3 m | SEC (XBRL)· 13 Aug 2026verified |
| EBITDA | 1.1 bn ≈ | 1.2 bn ≈ | 1.3 bn ≈ | 1.5 bn ≈ | 1.9 bn ≈ | 2.1 bn ≈ | SEC (XBRL)· 13 Aug 2026derived |
| Interest expense | 24.0 m | — | — | — | — | — | SEC (XBRL)· 17 Aug 2021verified |
| Pre-tax income | 883.7 m | 960.5 m | 1.1 bn | 1.3 bn | 1.7 bn | 1.9 bn | SEC (XBRL)· 13 Aug 2026verified |
| Income tax | 409.2 m | 181.0 m | 204.1 m | 243.8 m | 276.8 m | 396.1 m | SEC (XBRL)· 13 Aug 2026verified |
| Net income | 474.5 m | 779.4 m | 897.6 m | 1.0 bn | 1.4 bn | 1.5 bn | SEC (XBRL)· 13 Aug 2026verified |
| Diluted EPS | 3.24 | 5.30 | 6.09 | 6.92 | 9.51 | 10.43 | SEC (XBRL)· 13 Aug 2026verified |
| Weighted average diluted shares | 146.5 m | 147.0 m | 147.5 m | 147.6 m | 147.3 m | 146.1 m | SEC (XBRL)· 13 Aug 2026verified |
| Dividend per share | 1.56 | 1.68 | 1.76 | 1.92 | 2.12 | 2.40 | SEC (XBRL)· 13 Aug 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 295.3 m | 273.7 m | 227.9 m | 238.4 m | 1.2 bn | 1.5 bn | SEC (XBRL)· 13 Aug 2026verified |
| Receivables | 614.3 m | 576.0 m | 704.9 m | 837.3 m | 939.5 m | 1.0 bn | SEC (XBRL)· 13 Aug 2026verified |
| Inventories | 457.0 m | 743.9 m | 998.0 m | 822.3 m | 927.7 m | 945.8 m | SEC (XBRL)· 13 Aug 2026verified |
| Current assets | 1.6 bn | 1.9 bn | 2.4 bn | 2.4 bn | 3.5 bn | 4.3 bn | SEC (XBRL)· 13 Aug 2026verified |
| Property, plant & equipment, net | 463.5 m | 498.2 m | 537.9 m | 548.0 m | 550.8 m | 581.8 m | SEC (XBRL)· 13 Aug 2026verified |
| Goodwill | 1.9 bn | 1.9 bn | 2.8 bn | 2.8 bn | 3.0 bn | 2.9 bn | SEC (XBRL)· 13 Aug 2026verified |
| Intangibles (excl. goodwill) | 392.6 m | 345.9 m | 552.3 m | 485.9 m | 464.9 m | 452.7 m | SEC (XBRL)· 13 Aug 2026verified |
| Total assets | 4.7 bn | 5.1 bn | 6.8 bn | 6.9 bn | 8.2 bn | 9.0 bn | SEC (XBRL)· 13 Aug 2026verified |
| Accounts payable | 138.0 m | 159.2 m | 150.8 m | 237.7 m | 278.2 m | 308.9 m | SEC (XBRL)· 13 Aug 2026verified |
| Short-term debt | 12.0 m | 9.9 m | 9.9 m | 9.9 m | 9.9 m | 260.0 m | SEC (XBRL)· 13 Aug 2026verified |
| Long-term debt | 643.4 m | 765.3 m | 1.4 bn | 697.3 m | 658.4 m | 399.4 m | SEC (XBRL)· 13 Aug 2026verified |
| Current liabilities | 911.8 m | 689.3 m | 758.5 m | 910.7 m | 1.0 bn | 1.4 bn | SEC (XBRL)· 13 Aug 2026verified |
| Total liabilities | 1.8 bn | 1.7 bn | 2.6 bn | 2.0 bn | 2.2 bn | 2.4 bn | SEC (XBRL)· 13 Aug 2026verified |
| Equity | 2.9 bn † | 3.4 bn † | 4.1 bn † | 4.9 bn † | 6.0 bn † | 6.6 bn † | SEC (XBRL)· 13 Aug 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 736.7 m | 351.1 m | 693.3 m | 1.4 bn | 1.8 bn | 1.8 bn | SEC (XBRL)· 13 Aug 2026verified |
| Capex | 102.7 m | 134.8 m | 119.7 m | 99.5 m | 89.9 m | 156.3 m | SEC (XBRL)· 13 Aug 2026verified |
| Free cash flow | 634.0 m ≈ | 216.3 m ≈ | 573.6 m ≈ | 1.3 bn ≈ | 1.7 bn ≈ | 1.6 bn ≈ | SEC (XBRL)· 13 Aug 2026derived |
| Investing cash flow | -158.5 m | -229.9 m | -1.2 bn | -269.8 m | -200.0 m | -545.2 m | SEC (XBRL)· 13 Aug 2026verified |
| Financing cash flow | -764.6 m | -128.4 m | 422.9 m | -1.1 bn | -606.3 m | -1.0 bn | SEC (XBRL)· 13 Aug 2026verified |
| Dividends paid | 226.7 m | 245.3 m | 258.3 m | 282.3 m | 310.9 m | 349.7 m | SEC (XBRL)· 13 Aug 2026verified |
| Share repurchases | — | 0 | 0 | 150.0 m | 300.0 m | 700.0 m | SEC (XBRL)· 13 Aug 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 85 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 33.8 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet100
- Growth93
- Quality91
- Returns87
- Valuation68
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 213.99 – 397.25 USD.
Methods computed but outside the aggregate range: Dividend discount (DDM) (a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate).
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/EBITDA213.99 – 278.01 (Mid 246.24)4 companies used · median multiple 16.3x · quartiles 14.1x – 18.4xBDX, BSX, MMM, SYK
- Peers: P/E317.41 – 397.25 (Mid 382.57)5 companies used · median multiple 34.8x · quartiles 28.9x – 36.2xBSX, DXCM, MMM, SYK, WST
- Dividend discount (DDM)outside the aggregate31.54 – 42.41 (Mid 36.18)a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 85/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 27.9% | 80 (vs peers) | 11% |
| Net margin · Quality | 27.8% | 100 (vs peers) | 7% |
| FCF conversion · Quality | 101.0% | 100 (on a fixed band) | 7% |
| Revenue CAGR 3Y · Growth | 10.2% | 85 (on a fixed band) | 9% |
| EPS CAGR 3Y · Growth | 19.6% | 100 (on a fixed band) | 9% |
| Net debt / EBITDA · Balance sheet | -0.3x | 100 (vs peers) | 11% |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 2.6x | 100 (on a fixed band) | 4% |
| P/E (TTM) · Valuation | 21.9x | 83 (vs peers) | 11% |
| EV/EBITDA · Valuation | 15.9x | 60 (vs peers) | 11% |
| FCF yield · Valuation | 4.8% | 59 (on a fixed band) | 9% |
| Shareholder yield (distributions) · Returns | 5.4% | 78 (on a fixed band) | 7% |
| Payout ratio (FCF) · Returns | 22.2% | 100 (on a fixed band) | 4% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet100/100 · 2/3 factors with a value
- Growth93/100 · 2/2 factors with a value
- Quality91/100 · 3/3 factors with a value
- Returns87/100 · 2/2 factors with a value
- Valuation68/100 · 3/3 factors with a value
Memo
ResMed Inc. (RMD). Latest full fiscal year: 2026; data up to 2026-09-30.
Figures computed from the financial statements: revenue 5.7 bn USD in 2026; YoY growth 9.9%; net margin 27.8%; ROE 26.4%; net debt/EBITDA -0.3x.
The estimated value range is 265.70–337.63 USD per share (median of 2 methods, agreement: same basis (multiples on one peer group, not independent confirmations)); assumptions are illustrative. Against the central value of 314.41 USD, the price of 240.51 USD leaves a potential of 30.7% (value / price − 1) and a margin of safety of 23.5% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 85/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 27.9%
- Net margin: 27.8%
- FCF conversion: 101.0%
- Revenue CAGR 3Y: 10.2%
- EPS CAGR 3Y: 19.6%
- Net debt / EBITDA: -0.3x
- Current ratio: 2.6x
- P/E (TTM): 21.9x
- Shareholder yield (distributions): 5.4%
- Payout ratio (FCF): 22.2%
- The price is below the estimated value range
What contradicts it
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
Not assessed (insufficient data or a ratio without meaning): Interest coverage.
Versus the vertical median
Surgical & Medical Instruments & Apparatus (SIC 3841) · same industry (4-digit SIC) · compared with 6 companies
Only companies with a capitalisation between 4.6 bn and 292.0 bn (within 8× of the company's); 107 of the vertical were left out.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| SYKStryker Corp | 129.3 bn | 36.2 | 16.0% | 13.8% | +11.2% | −8% / +15% |
| MMM3m Company | 100.2 bn | 28.9 | 80.8% | 14.0% | +1.5% | +13% / +134% |
| BSXBoston Scientific Corporation | 66.4 bn | 19.4 | 14.3% | 16.6% | +19.9% | −55% / −18% |
| BDXBecton, Dickinson And Company | 57.0 bn | 63.2 | 3.8% | 4.0% | +8.2% | +37% / +13% |
| RMDResMed Inc. | 33.8 bn | 21.9 | 26.4% | 27.8% | +9.9% | −2% / +57% |
| DXCMDexcom, Inc. | 33.0 bn | 34.8 | 37.7% | 19.4% | +15.6% | +39% / −23% |
| WSTWest Pharmaceutical Services, Inc. | 28.5 bn | 45.9 | 21.2% | 18.8% | +6.3% | +47% / +17% |
1- and 3-year price returns: for RMD from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 155.04 Total return -35% · Per year -35% | 273.38 Total return 15% · Per year 15% | 410.81 Total return 72% · Per year 72% |
| 3 years | 168.24 Total return -27% · Per year -10% | 332.07 Total return 42% · Per year 12% | 545.31 Total return 132% · Per year 32% |
| 5 years | 182.56 Total return -19% · Per year -4% | 403.36 Total return 75% · Per year 12% | 723.84 Total return 210% · Per year 25% |
- Exit P/E± 83.02
- Net margin± 58.11
- Annual revenue growth± 45.23
- Annual dilution± 4.88
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 13 Aug 2026; since then the company filed 10-Q (30 Oct 2026), 8-K (29 Oct 2026 · results).
In brief
ResMed is a global leader in digital health and cloud-connected medical devices focused on sleep apnea and home respiratory care. Fiscal 2026 revenue reached 5.7 billion USD, up 10% 12, with GAAP gross margin of 61.1% 2. The company agreed to sell its MatrixCare business for 490 million USD 1 to concentrate investment on sleep and breathing health.
SWOT
Strengths
Weaknesses
Opportunities
Risks
- Technological competitionhigh
Development of new devices or pharmaceutical treatments could make current products less competitive 1.
- Regulation and recallshigh
Compliance problems or a new safety notice could create costs and sales restrictions 12.
- Data securitymedium
A cybersecurity incident could harm reputation and create legal liability 1.
- Pricing pressuremedium
Buyer consolidation and reimbursement reforms could reduce selling prices 1.
- Currency and trade risklow
Currency movements and tariffs could affect operating results 12.
Investment thesis
What would need to be true (bull case)
- Demand for devices and masks grew steadily and margins improved, which points to solid profitability 2.
- Cash generation supports capital returns to shareholders and innovation, including a dividend increase 2.
- A focus on sleep and breathing health after the MatrixCare sale could sharpen strategic clarity 1.
What to watch
- Closing of the MatrixCare saleQ1 2027
- Delivery of the planned capital return guidance2027
- Gross margin trend after the Astral safety noticenext 10-K
- Revenue impact of the Noctrix acquisition2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 13 Aug 2026; since then the company filed 10-Q (30 Oct 2026), 8-K (29 Oct 2026 · results).
The business
ResMed designs devices and software for treating obstructive sleep apnea, starting from CPAP therapy commercialized after its 1989 formation 1. The company runs two segments: Sleep and Breathing Health and Residential Care Software 1. In June 2026 it acquired Noctrix Health, which treats restless legs syndrome 12.
Its respiratory business includes ventilators, high flow systems and accessories, mostly used in the home 1. Through the VirtuOx acquisition it also offers home-based diagnostic services for sleep and breathing in the U.S. 1. The company has about 11,370 employees and sells in more than 140 countries 1.
Software platforms Brightree, MEDIFOX DAN and MatrixCare serve residential care providers, and MatrixCare is being sold 1. Management has indicated that new product launches and digital capabilities remain priorities for fiscal 2027 2.
Segments
Market context
Trends
- GLP-1 pharmaceutical therapiesheadwind
GLP-1 drugs could reduce the severity of sleep apnea, which could affect demand for devices 1.
- Digitalization and AImixed
Adoption of AI in medical software could open new opportunities but requires significant investment in research and compliance 1.
- Consolidation of healthcare buyersheadwind
Consolidation among HME providers and payors could increase pressure on prices 1.
- Growth of care at hometailwind
Rising interest in home care supports demand for connected devices and remote diagnostics 12.
Competitive position
Main rivals include companies with greater research and marketing resources, and Philips operates in the U.S. under a consent decree after a product recall 1. The restrictions on Philips have created room for smaller companies 1.
New entrants in digital health and pharmaceutical companies could compete with ResMed products 1. In software, barriers to entry are low 1.
- Philips
Operates in the U.S. under a consent decree after a product recall, which opened room for other competitors 1.
- Pharmaceutical therapy providers
New drug treatments could reduce demand for CPAP devices 1.
- Residential care software providers
The software market is fragmented, with rapidly evolving products and low barriers to entry 1.
- New digital health entrants
New companies could compete with digital health models 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Quarterly report30 Oct 2026
- Current report29 Oct 2026Results of operations · Other events · Financial statements and exhibits
- Proxy statement01 Oct 2026
- Current report01 Sept 2026Other events
- Current report17 Aug 2026Item 4.01 · Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Annual report13 Aug 2026
- Current report06 Aug 2026Results of operations · Other events · Financial statements and exhibits
- Current report07 Jul 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report01 May 2026
- Current report30 Apr 2026Departure or appointment of officers · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2026-06-30 · SEC / ResMed Inc. · 13 Aug 2026
- [2] Form 8-K, results release (exhibit 99.1) · SEC / ResMed Inc. · 06 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.