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Insulet Corporation

PODD Healthcare Medical Devices

Insulet Corporation’s revenue for fiscal 2025 (year ended December 2025) was $2.7 billion, up 30.7% from fiscal 2024.

Revenue
+19.2%
EPS
+64.1%
Free cash flow
−29.8%
Total debt
−5.19%

Quarter to September 2026, against a year earlier

145.34 10.78 −6.90%
Market cap
$10.8B
P/E
25.2×
Fwd P/E
24.4×
Dividend yield
—
F-score
6/9
Altman Z
9.09
Beneish M
−2.59
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by products and services Fiscal 2025

  • U.S.
  • International
  • Drug Delivery

Every year since 2014 →

Insider Decisions last twelve months

Bought, $m 2.89
Sold, $m 0.60
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy 1 — 2 — — — 2 — 1 — — —
Sell 1 — — — — — 1 — — — — —
Insider Ownership 0.45%

Capital & Financial Ratios $m

Size
Market Cap 10,830.00
Revenue ttm 3,189.10
Net income ttm 428.80
Free cash flow ttm 260.00
Net debt Q 377.70
Valuation
P/E 25.23
Forward P/E 24.40
Price / sales 3.37
Forward P/S Powerpack
Price / FCF 46.37
Price / book 7.56 (above 6: high)
Financial health
Current ratio Q 2.51 (at or above 1.5: strong)
Debt / equity Q 0.61
Interest coverage Q 15.69
Growth
Revenue growth Q +19.21% (above 0%: growing)
Operating income growth Q +61.26% (above 0%: growing)
EPS, this year +36.80% (at or above 15%: strong)
EPS, next year A +17.48% (at or above 15%: strong)
Revenue, next year A +21.38% (at or above 10%: strong)
EPS, past 5 yrs +103.38% (at or above 15%: strong)
EPS, next 5 yrs A +24.31% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.5×, against a ten-year median of 9.9×; over the ten years it ranged from 3.0× in 2026 to 21.0× in 2021.
P/E against its own 10 years 1.68%
10-year low 10-year high
P/S against its own 10 years 2.31%
10-year low 10-year high
P/B against its own 10 years 2.46%
10-year low 10-year high
EV/Sales against its own 10 years 2.13%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 704 953 716 584
Receivables 360 366 517 689
Inventory 403 430 453 552
Other — — — —
1,583 1,891 1,914 2,042
2023 2024 2025 Q'26
Payables 19 20 75 162
ST’ Debt 49 84 18 19
Other — — — —
451 528 680 814

Compound Annual Growth %

10y 5y 3y
Sales 26.22% 24.53% 27.54%
Cash Flow 0.00% 46.63% 68.50%
Earnings 0.00% 105.15% 277.32%
Book Value 46.16% 20.21% 47.06%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.59 Actual 1.99

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 1.48 1.55 Beat by 0.07
Q1 FY26 1.14 1.42 Beat by 0.28
Q2 FY26 1.44 1.66 Beat by 0.22
Q3 FY26 1.59 1.99 Beat by 0.40
Q4 FY26 1.81 — Reports 17 February 2027

EPS $

Mar Jun Sep Dec Year
’26 1.30 1.37 2.03 — —
’25 0.50 0.32 1.24 1.44 3.48
’24 0.73 2.59 1.08 1.39 5.78
’23 0.34 0.39 0.74 1.44 2.94
’22 0.40 (0.50) (0.08) 0.24 0.07
’21 0.00 (0.37) 0.18 0.42 0.24
’20 (0.03) 0.22 0.17 (0.26) 0.10
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 762 802 842 — —
’25 569 649 706 784 2,708
’24 442 489 544 598 2,072
’23 358 397 433 510 1,697
’22 295 299 341 370 1,305
’21 252 263 276 308 1,099
’20 198 226 234 246 904
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 114 88 — — —
’25 64 197 126 183 569
’24 88 87 108 148 430
’23 1 44 56 45 146
’22 (14) 25 57 51 119
’21 (35) 18 (26) (25) (68)
’20 (4) 26 44 17 84
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 86 51 66 — —
’25 48 173 95 34 350
’24 64 62 79 92 296
’23 (37) 26 34 14 37
’22 (30) 6 23 (38) (38)
’21 (68) (5) (55) (62) (191)
’20 (31) 2 18 (71) (82)
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 21.0% a year for ten years.

Implied
21.0%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 367 464 564 738 904 1,099 1,305 1,697 2,072 2,708 3,189 +24.9% 3,287 3,733 4,225 +16.0%
Gross margin, % 57.52 59.77 65.66 65.06 64.39 68.45 61.72 68.35 69.79 71.63 71.88 +14.1 pt
EBT (27) (27) 5 15 10 21 10 215 300 340 549 n/m
EBT margin, % (7.31) (5.74) 0.92 1.96 1.07 1.87 0.75 12.65 14.49 12.54 17.21 +19.9 pt
Net income (29) (27) 3 12 7 17 5 206 418 247 429 n/m
Per share, $
Per share, $ Revenue 6.41 8.00 9.58 12.18 13.97 16.23 18.82 24.33 29.56 38.50 45.98 +22.0%
Earnings (0.50) (0.46) 0.06 0.19 0.11 0.25 0.07 2.96 5.97 3.51 6.14 n/m
Cash flow 0.28 0.71 0.61 1.62 1.30 (1.01) 1.72 2.09 6.14 8.09 7.34 +45.4%
Capex (0.39) (1.33) (2.76) (2.82) (2.57) (1.81) (2.27) (1.57) (1.91) (3.12) (3.59) +26.1%
Free cash flow (0.11) (0.62) (2.15) (1.20) (1.27) (2.82) (0.55) 0.52 4.23 4.97 3.75 n/m
Book value 1.10 2.73 3.60 1.25 9.32 8.22 6.87 10.50 17.29 21.54 22.77 +39.1%
Shares, m 57 58 59 61 65 68 69 70 70 70 70 +2.3%
Valuation, ×
Valuation, × P/E 0.00 0.00 1,322.00 951.11 2,323.91 1,156.83 4,091.14 70.88 43.66 81.21 25.23 1,004.1
P/S 5.83 8.63 8.28 14.05 18.30 16.39 15.22 8.59 8.83 7.38 3.37 11.2
P/B 33.86 25.25 22.01 136.68 27.42 32.38 41.70 19.91 15.10 13.20 7.56 36.7
EV/Sales 5.98 8.95 8.86 14.75 18.42 16.83 15.78 9.01 9.04 7.47 3.49 11.5
EV/FCF (354.03) (127.76) (38.46) (150.20) (201.94) (96.93) (537.72) 419.10 63.20 57.81 47.99 (96.7)
Cash, $m
Cash, $m Operating cash flow 16 41 36 98 84 (68) 119 146 430 569 509 +48.8%
Capex (22) (77) (162) (171) (166) (123) (157) (109) (134) (219) (249) +29.0%
Free cash flow (6) (36) (126) (72) (82) (191) (38) 37 296 350 260 n/m
Balance, $m
Balance, $m Working capital 314 451 346 433 1,041 1,101 949 1,132 1,363 1,234 1,227 +16.4%
Net debt 34 126 303 516 112 482 727 712 427 233 378 +23.8%
Shareholders’ equity 63 159 212 76 604 556 476 733 1,212 1,515 1,579 +42.3%
Returns, %
Returns, % ROA (7.89) (4.21) 0.38 1.12 0.45 0.86 0.21 8.53 14.74 7.87 13.31 +15.8 pt
ROIC (6.87) (1.62) 3.32 5.28 4.50 7.58 1.95 9.52 11.79 16.94 18.77 +23.8 pt
ROE (59.42) (24.18) 1.78 8.06 2.00 2.90 0.89 34.12 43.03 18.12 28.94 +77.5 pt
People
People Employees 640 857 1,169 1,350 1,900 2,300 2,600 3,000 3,900 5,400 — +26.7%
Revenue/emp, $m 0.57 0.54 0.48 0.55 0.48 0.48 0.50 0.57 0.53 0.50 — (1.5%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

Insulet develops, manufactures and sells insulin delivery systems for people with insulin-dependent diabetes. Founded in 2000, the company is headquartered in Acton, Massachusetts, and its chief executive is Ashley McEvoy.

Its Omnipod platform delivers insulin through a disposable, self-adhesive device called a Pod. Unlike conventional pumps, the Pod does not need external tubing. It can be worn on several parts of the body and is designed to be replaced after up to three days. This gives users an alternative to taking multiple daily injections with syringes or insulin pens.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by products and services, and margins
U.S. 1,920 70.89%
International 754 27.85%
Drug Delivery 34 1.26%
Gross margin 71.63%
Operating margin 17.50%
Pre-tax margin 12.54%

Revenue by segment since 2014

Insulet Corporation vs peers in Medical Devices (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
SNN Smith & Nephew SNATS, Inc. $13.4B 38.9× 18.9× +7.99% (above 0%: growing) −14.23% (below 0%: shrinking) +293.94% (above 0%: growing) 69.42% 0.00% Compare
GKOS Glaukos Corporation $13.0B — (loss-making) — (loss-making) +58.03% (above 0%: growing) n/m +411.22% (above 0%: growing) 85.23% 0.39% Compare
PEN Penumbra, Inc. $12.7B 80.3× 68.7× +15.64% (above 0%: growing) −8.29% (below 0%: shrinking) −37.16% (below 0%: shrinking) 68.34% 12.37% Compare
GMED Globus Medical, Inc. $10.9B 19.5× 18.8× −0.69% (below 0%: shrinking) +19.32% (above 0%: growing) +10.10% (above 0%: growing) 69.50% 23.25% Compare
PODD Insulet Corporation $10.8B 25.2× 24.4× +19.21% (above 0%: growing) +64.06% (above 0%: growing) −29.81% (below 0%: shrinking) 75.07% 22.54%
BIO.B Bio-Rad Laboratories, Inc. $10.3B 9.9× — +0.52% (above 0%: growing) n/m +8.07% (above 0%: growing) 50.06% (7.57%) Compare
BIO Bio-Rad Laboratories, Inc. $9.9B 9.7× 44.7× +0.52% (above 0%: growing) n/m +8.07% (above 0%: growing) 50.06% (7.57%) Compare
BRKR Bruker Corporation $8.9B — (loss-making) — (loss-making) +1.57% (above 0%: growing) n/m +278.74% (above 0%: growing) 49.12% (10.41%) Compare
TXG 10x Genomics $7.6B — (loss-making) — (loss-making) −12.65% (below 0%: shrinking) n/m −4.61% (below 0%: shrinking) 74.48% (12.95%) Compare
Median of peers $10.6B 19.5× 31.8× +1.05% −8.29% +9.09% 68.88% (3.78%)

All 149 Medical Devices stocks →

From the latest earnings call

Updated

  • CEO Ashley McEvoy said Type 2 retention improved modestly as Insulet adjusted its sampling, onboarding and customer-support programs.
  • CFO Flavia Pease said Insulet expects 2027 growth modestly below its earlier mid-teens framework, citing a tougher comparison and less international price-mix benefit.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 102.99%
Held by the ten largest 45.45%
Holder Shares Stake Change
Vanguard 8.34m 12.02% −425.34k
BlackRock 6.69m 9.65% +314.25k
State Street 3.20m 4.61% +155.10k
AQR Capital Management 2.44m 3.52% +849.44k
Baillie Gifford 2.04m 2.94% +12.82k
Geode Capital Management 2.00m 2.89% −21.84k
Two Sigma 1.90m 2.74% +1.14m
T. Rowe Price 1.73m 2.49% −371.87k
Invesco 1.69m 2.44% +598.11k
Franklin Templeton 1.48m 2.14% +130.85k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 6 April 2026

Ownership

Directors and executive officers, together less than 1%
Capital Research Global Investors 11.10%
FMR LLC 9.00%
BlackRock, Inc. 8.70%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Insulet Corporation (PODD) Latest News

4 Nov

Impact 4 · · Business Wire
Impact 3 · · GuruFocus.com
Impact 3 · · MarketBeat transcript
Impact 3 · · Moby
Impact 3 · · The Motley Fool transcript
Impact 3 · · Zacks
Impact 3 · · StockStory

28 Oct

Impact 3 · · Zacks

27 Oct

Impact 3 · · Barchart

26 Oct

Impact 4 · · Simply Wall St.

12 Oct

Impact 4 · · Business Wire

25 Sep

Impact 4 · · Simply Wall St.
Impact 4 · · MarketBeat

24 Sep

Impact 3 · · Barchart

14 Sep

Impact 4 · · medtechdive.com

3 Sep

Impact 3 ·

2 Sep

Impact 3 ·

1 Sep

Impact 3 · · medtechdive.com

25 Aug

Impact 4 ·

14 Aug

Impact 3 ·

13 Aug

Impact 4 ·

12 Aug

Impact 3 · · The Motley Fool transcript

10 Aug

Impact 3 ·

6 Aug

Impact 3 ·

5 Aug

Impact 4 ·
Impact 4 · · Moby transcript
Impact 4 ·
Impact 4 · · MarketBeat transcript
Impact 3 ·
Impact 3 ·

PODD metrics, ten years each

stockrow.com/PODD · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com