Saturday 17 October 2026 Export ICUI’s income statement to Excel — free account

ICU Medical, Inc.

ICUI Healthcare Medical Instruments & Supplies

ICU Medical, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.2 billion, down 6.33% from fiscal 2024. In the quarter to June 2026, revenue was flat, EPS fell 46.9%, free cash flow grew 656.0% and total debt fell 7.96%, each against the same quarter a year earlier.

162.99 4.24 −2.54%

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Market cap: $4.2B
P/E: 136×
Fwd P/E: 49.5×
Dividend yield: —
F-score: 6/9
Altman Z: 2.12
Beneish M: −2.65
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 8.27

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	3	—	—	—	—	—	3	—	—	5	2	—

Insider Ownership 1.76%

Capital & Financial Ratios $m

Market Cap 4,180.00

Revenue 2,159.60

Net Income 30.09

Free Cash Flow 152.88

Net Debt 932.90

Current Ratio 2.43

Debt/Equity 0.57

P/E ratio 135.83

Fwd P/E 49.50

P/S ratio 1.89

P/B ratio 1.89

Past 5Y EPS Growth (62.45%)

This Y EPS Growth 12.63%

Next Y EPS Growth 10.61%

Next Y revenue growth (1.80%)

Next 5Y EPS Growth 10.24%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 84.83%

10-year low 10-year high

P/S against its own 10 years 33.65%

10-year low 10-year high

P/B against its own 10 years 28.60%

10-year low 10-year high

EV/Sales against its own 10 years 27.94%

10-year low 10-year high

EV/FCF against its own 10 years 32.95%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	255	309	308	298
Receivables	162	183	181	184
Inventory	709	585	616	607
Other	—	284	—	—
	1,221	1,442	1,191	1,211

	2023	2024	2025	Q'26
Payables	150	148	154	149
ST’ Debt	51	51	19	19
Other	5	33	—	—
	482	556	499	498

Compound Annual Growth %

	10y	5y	3y
Sales	20.64%	11.91%	(0.72%)
Cash Flow	10.85%	(4.19%)	0.00%
Earnings	(33.76%)	(61.53%)	0.00%
Book Value	13.86%	7.17%	0.54%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	530	552	—	—	—
’25	605	549	537	541	2,231
’24	567	596	589	630	2,382
’23	569	549	553	588	2,259
’22	543	561	598	578	2,280
’21	318	322	336	341	1,316
’20	329	303	319	320	1,271

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	39	80	—	—	—
’25	51	11	57	61	180
’24	46	82	36	40	204
’23	41	(1)	35	91	166
’22	(1)	(61)	2	(2)	(62)
’21	51	55	79	83	268
’20	40	29	75	79	223

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	26	60	—	—	—
’25	35	(11)	25	42	91
’24	27	60	13	14	115
’23	25	(20)	11	59	74
’22	(26)	(88)	(20)	(26)	(160)
’21	35	37	56	58	187
’20	12	14	49	53	129

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	1.20	0.76	—	—	—
’25	(0.63)	1.43	(0.14)	(0.64)	0.03
’24	(1.63)	(0.88)	(1.35)	(0.97)	(4.83)
’23	(0.41)	(0.41)	0.30	(0.71)	(1.23)
’22	(1.61)	(0.31)	(0.55)	(0.65)	(3.11)
’21	1.09	1.31	1.43	0.91	4.74
’20	0.78	0.88	1.16	1.21	4.02

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	85.56	127.00	210.94	148.89	158.01	183.39	128.90	78.28	86.80	107.00	Analyst estimates 2026–2028 Powerpack
	High	154.80	225.38	321.70	259.72	236.51	282.00	251.73	212.43	196.26	175.51
People
People	Employees	2,803	6,802	8,100	8,000	7,900	8,500	14,500	14,000	15,000	13,000
	Revenue/emp, $m	0.14	0.19	0.17	0.16	0.16	0.15	0.16	0.16	0.16	0.17
Income, $m
Income, $m	Revenue	379	1,293	1,400	1,266	1,271	1,316	2,280	2,259	2,382	2,231
	Gross margin, %	53.09	32.96	40.72	37.27	36.31	37.34	30.60	32.75	34.62	36.84
	EBT	85	51	22	115	97	123	(114)	(78)	(66)	4
	EBT margin, %	22.45	3.97	1.60	9.06	7.67	9.36	(5.02)	(3.47)	(2.77)	0.20
	Net income	63	69	29	101	87	103	(74)	(30)	(118)	1
	Depreciation	20	67	75	77	86	91	269	236	226	207
Per share, $
Per share, $	Revenue	23.46	65.90	68.65	61.38	60.79	62.07	95.53	93.77	97.67	90.55
	Earnings	3.90	3.50	1.41	4.90	4.16	4.86	(3.11)	(1.23)	(4.83)	0.03
	Cash flow	5.56	7.87	7.86	4.94	10.65	12.62	(2.60)	6.90	8.37	7.30
	Capex	(1.32)	(4.06)	(4.27)	(5.14)	(4.51)	(3.82)	(4.12)	(3.83)	(3.67)	(3.61)
	Free cash flow	4.25	3.81	3.59	(0.20)	6.15	8.80	(6.72)	3.07	4.70	3.69
	Book value	40.83	61.09	61.96	66.76	71.85	76.21	87.56	88.14	80.58	86.19
	Shares, m	16	20	20	21	21	21	24	24	24	25
Valuation, ×
Valuation, ×	P/E	39.15	59.42	161.71	38.11	51.68	48.74	0.00	0.00	0.00	7,133.50
	P/S	6.27	3.28	3.35	3.05	3.53	3.82	1.67	1.08	1.59	1.58
	P/B	3.61	3.54	3.71	2.80	2.99	3.11	1.83	1.15	1.93	1.66
	EV/Sales	5.10	3.10	3.13	2.85	3.25	3.43	2.30	1.69	2.12	2.01
	EV/FCF	28.18	53.70	59.78	(881.26)	32.10	24.18	(32.75)	51.62	44.15	49.42
Cash, $m
Cash, $m	Operating cash flow	90	154	160	102	223	268	(62)	166	204	180
	Capex	(21)	(80)	(87)	(106)	(94)	(81)	(98)	(92)	(89)	(89)
	Free cash flow	69	75	73	(4)	129	187	(160)	74	115	91
Balance, $m
Balance, $m	Working capital	529	654	678	634	725	829	741	739	886	692
	Total debt	—	—	—	36	52	46	1,653	1,629	1,583	1,285
	Net debt	(445)	(300)	(382)	(257)	(359)	(521)	1,440	1,374	1,274	977
	Shareholders’ equity	660	1,198	1,264	1,377	1,502	1,616	2,090	2,123	1,965	2,124
Returns, %
Returns, %	ROA	9.48	6.24	1.87	6.16	5.03	5.66	(2.32)	(0.67)	(2.74)	0.02
	ROIC	24.10	(0.93)	2.11	5.99	5.37	7.04	(0.76)	0.41	0.83	0.86
	ROE	10.17	7.39	2.34	7.65	6.03	6.61	(4.01)	(1.41)	(5.76)	0.04

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
BLCO Bausch + Lomb Corporation	$6.0B	— (loss-making)	— (loss-making)	+9.08% (above 0%: growing)	n/m	+251.85% (above 0%: growing)	62.20%	5.95%	Compare
TFX Teleflex Incorporated	$5.4B	— (loss-making)	45.3×	+28.88% (above 0%: growing)	−17.33% (below 0%: shrinking)	+220.14% (above 0%: growing)	58.16%	12.77%	Compare
MMSI Merit Medical Systems, Inc.	$5.4B	36.4×	23.4×	+9.51% (above 0%: growing)	+18.18% (above 0%: growing)	−25.66% (below 0%: shrinking)	51.37%	14.42%	Compare
STVN Stevanato Group S.p.A.	$5.3B	33.8×	27.5×	+10.46% (above 0%: growing)	−25.00% (below 0%: shrinking)	−167.02% (below 0%: shrinking)	28.75%	12.93%	Compare
ICUI ICU Medical, Inc.	$4.2B	136×	49.5×	+0.51% (above 0%: growing)	−46.85% (below 0%: shrinking)	+655.98% (above 0%: growing)	42.61%	7.09%
NVST Envista Holdings Corporation	$3.8B	38.8×	24.4×	+7.10% (above 0%: growing)	+106.25% (above 0%: growing)	+37.57% (above 0%: growing)	55.72%	10.99%	Compare
PLSE Pulse Biosciences, Inc	$3.3B	— (loss-making)	— (loss-making)	+4,922.22% (above 0%: growing)	n/m	−45.39% (below 0%: shrinking)	37.10%	(5,823.04%)	Compare
WRBY Warby Parker Inc.	$3.0B	334×	122×	+9.81% (above 0%: growing)	n/m	−71.75% (below 0%: shrinking)	57.94%	1.34%	Compare
ATRC AtriCure, Inc.	$2.9B	259×	591×	+12.83% (above 0%: growing)	n/m	−2.79% (below 0%: shrinking)	77.23%	6.29%	Compare
Median of peers	$4.5B	38.8×	36.4×	+10.14%	+0.42%	−14.22%	56.83%	8.64%

All 55 Medical Instruments & Supplies stocks →

ICU Medical, Inc. (ICUI) key facts

Concern: ICU Medical, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.2 billion, down 6.33% from fiscal 2024.
ICU Medical, Inc. (ICUI) is a Medical Instruments & Supplies company in the Healthcare sector, listed on Nasdaq.
As of October 16, 2026, ICUI traded at $162.99, a market capitalization of $4.2 billion.
Return on equity was 0.04% and debt-to-equity 0.57.
Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 2.12 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.