RMD · Resmed Inc
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Metrics snapshot
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AI Brief
Q4 FY26 earnings call · Aug 6, 2026TL;DR. ResMed delivered strong Q4 FY26 results with 9% revenue growth and 16% non-GAAP EPS growth, and initiated FY27 guidance of 5-7% core constant currency revenue growth and $12.00-$12.25 non-GAAP EPS, which embeds an approximately $75 million (~130 bps) headwind from suspending Astral sales to support a field safety notice.
- + FY27 non-GAAP EPS guidance of $12.00-$12.25 implies 12-14% core EPS growth, and total reported revenue guidance is $5.75-$5.85 billion.
- + Closed the Noctrix acquisition on June 1, expanding into FDA De Novo-classified RLS therapy, and announced the divestiture of MatrixCare to sharpen focus on core sleep, breathing, and connected care.
- + FY27 gross margin is guided to expand by low double digits, with slight operating margin expansion, supported by productivity, efficiencies, and modest price increases.
- + ResMed confirmed Section 301 tariff relief under the Nairobi protocol remains in place for its products, removing a feared tariff headwind.
- − FY27 core constant currency revenue growth is guided to just 5-7%, well below FY26's 8-10%, and embeds an ~$75 million / ~130 bps headwind from suspending new Astral sales.
- − Took a $42 million Astral field safety notification charge in Q4, and Q4 free cash flow fell 21% year-over-year to $404 million.
- − Q1 FY27 gross margin is expected to decline slightly year-over-year as inflation outpaces near-term productivity and modest price benefits have not yet flowed through.
- − FY27 reported EPS growth of 7-10% is reduced by ~$0.30 of dilution from the MatrixCare divestiture and ~$0.20 from the Noctrix acquisition.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders BuyIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| average global turnover rate | 13% | fiscal year 2026 filing | — |
| Non-GAAP gross profit non-GAAP | $3.53B | Year Ended June 30, 2026 filing | — |
| Total operating cash flow | 1.8B | fiscal year 2026 filing | — |
| Free cash flow | $1.65B | Twelve Months Ended June 30, 2026 | — |
| Non-GAAP diluted earnings per share non-GAAP | $11.17 | Twelve Months Ended June 30, 2026 | — |
| Non-GAAP gross margin non-GAAP | 62.4% | Twelve Months Ended June 30, 2026 | — |
| Non-GAAP income from operations non-GAAP | $2.04B | Twelve Months Ended June 30, 2026 | — |
| Non-GAAP net income non-GAAP | $1.63B | Twelve Months Ended June 30, 2026 | — |
| Non-GAAP operating margin non-GAAP | 36.1% | Twelve Months Ended June 30, 2026 | — |
| Non-GAAP selling, general, and administrative expenses non-GAAP | $1.11B | Twelve Months Ended June 30, 2026 | — |
| Operating cash flow | $1.81B | Twelve Months Ended June 30, 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Medical Instruments & Supplies — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
RMD
this stock
Resmed Inc
|
$32.71B | -5.9% | +13.4% | 21.7 | 9.8% |
|
ISRG
Intuitive Surgical Inc
|
$146.76B | -26.7% | +20.5% | 47.7 | 2.3% |
|
BDX
Becton Dickinson & Co
|
$49.07B | — | +8.2% | — | 4.2% |
|
MDLN
Medline Inc.
|
$46.99B | -14.9% | +11.5% | — | 3.1% |
|
ALC
Alcon Inc
|
$30.45B | -19.9% | +10.5% | — | 3.6% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| RMD | +2.5% | +3.3% | -0.6% | +2.6% | -5.9% |
| SPY | +1.3% | +2.1% | +9.0% | +1.5% | +13.5% |
| vs SPY | +1.2% | +1.1% | -9.6% | +1.1% | -19.4% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.