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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%
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 (at or above 1.5: strong)
Debt/Equity 0.57
P/E ratio 135.83 (above 35: high)
Fwd P/E 49.50 (above 35: high)
P/S ratio 1.89
P/B ratio 1.89
Past 5Y EPS Growth (62.45%) (below 0%: weak)
This Y EPS Growth 12.63%
Next Y EPS Growth 10.61%
Next Y revenue growth (1.80%) (below 0%: weak)
Next 5Y EPS Growth 10.24%

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

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.3×, against a ten-year median of 3.0×; over the ten years it ranged from 1.6× in 2023 to 5.5× in 2016.
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.

Target Price Range

Analyst price targets

Recommendation Rating

1.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
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

ICU Medical, Inc. vs peers in Medical Instruments & Supplies (Q) = latest quarter vs a year earlier

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.

ICU Medical, Inc. (ICUI) Latest News

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stockrow.com/ICUI · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com