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ResMed (RMD) earnings and revenue breakdown

Latest: Q1 FY27 · 10-Q filed Oct 30, 2026 · ResMed (RMD) Q1 FY27 earnings results →

Q1 FY27 Revenue up 6% year over year to $1.4B · 30¢ of every $1 of revenue kept as net profit · operating margin 32.0%

ResMed made $1.4B in Q1 FY27 (+6% Y/Y): Total Sleep and Breathing Health $1.3B, Residential Care Software $155M. Operating margin 32.0%, net earnings $418M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 30, 2026.

Revenue$1.4B
Year over year+6%
Operating margin32.0%
Net earnings$418M
Operating cash flow$422M

Drawing the Sankey…

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ResMed Q1 FY27 revenue breakdown: Sankey diagram of revenue (Total Sleep and Breathing Health, Residential Care Software), costs, profit and cash flow
ResMed Q1 FY27 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $1.4B in Q1 FY27, up 6% year over year and down 3% from the previous quarter. Total Sleep and Breathing Health was the largest line at 89% of revenue. Total Sleep and Breathing Health added $0.09B year over year (up 8%), 114% of the total change. Residential Care Software declined 7%.

Gross margin was 61.5%, up 0.3 points from Q1 FY26. Operating profit was $0.45B, a 32.0% margin (down 1.4 points year over year). Of the extra revenue versus Q1 FY26, 8% reached operating profit, below the 33% margin then. Operating expenses grew 13% against revenue growth of 6%. The fastest-growing cost line was Research & development (+15%). Net earnings were $0.42B, up 20% year over year. The effective tax rate was 22.4%.

Operating cash flow was $0.42B (down 8% year over year), 101% of net earnings. Non-cash charges added back $0.04B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items used $0.07B. Capital expenditures of $0.05B left free cash flow of $0.37B.

Quarterly history

ResMed revenue by quarterResMed revenue by quarter$1.3BQ3 FY25$1.3BQ4 FY25$1.3BQ1 FY26$1.4BQ2 FY26$1.4BQ3 FY26$1.5BQ4 FY26$1.4BQ1 FY27
ResMed net earnings by quarterResMed net earnings by quarter$365MQ3 FY25$380MQ4 FY25$349MQ1 FY26$393MQ2 FY26$399MQ3 FY26$383MQ4 FY26$418MQ1 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q1 FY2710-QOct 30, 2026$1.4B+6%32.0%$418M$422M
Q4 FY2610-KAug 13, 2026$1.5B+9%30.7%$383M$455M
Q3 FY2610-QMay 1, 2026$1.4B+11%34.9%$399M$554M
Q2 FY2610-QJan 30, 2026$1.4B+11%34.6%$393M$340M
Q1 FY2610-QOct 31, 2025$1.3B+9%33.4%$349M$457M
Q4 FY2510-KAug 8, 2025$1.3B+10%33.7%$380M$539M
Q3 FY2510-QApr 24, 2025$1.3B+8%33.0%$365M$579M

Charts

ResMed: revenue growth, year over year and quarter over quarterResMed: revenue growth, year over year and quarter over quarterY/YQ/Q+8%Q3 FY25+10%+4%Q4 FY25+9%-1%Q1 FY26+11%+7%Q2 FY26+11%+1%Q3 FY26+9%+2%Q4 FY26+6%-3%Q1 FY27
Latest (Q1 FY27): Y/Y +6%, Q/Q -3%.
ResMed: where the cash came from (+) and went (−), TTM to Q1 FY27ResMed: where the cash came from (+) and went (−), TTM to Q1 FY27Operating cash flow$1.8BBuybacks−$1.5BOther investing$419MCash drawn (+) / kept (−)$373MAcquisitions−$358MDividends−$357MNet borrowing (+) / repaid (−)−$260MCapital spending−$162MShares issued$70.0MTaxes on employees’ shares−$21.4MExchange rates$11.3M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
ResMed: profit against cash, quarter by quarterResMed: profit against cash, quarter by quarterNet incomeOperating cash flow$345M$309MQ2 FY25$365M$579MQ3 FY25$380M$539MQ4 FY25$349M$457MQ1 FY26$393M$340MQ2 FY26$399M$554MQ3 FY26$383M$455MQ4 FY26$418M$422MQ1 FY27
Latest (Q1 FY27): Net income $418M, Operating cash flow $422M.
ResMed: diluted shares by fiscal yearResMed: diluted shares by fiscal year146MFY21147MFY22147MFY23148MFY24147MFY25146MFY26
-0.3% since FY21: buybacks shrank the count.
ResMed in its industry: growth against margin (111 companies, SIC 3841)ResMed in its industry: growth against margin (111 companies, SIC 3841)revenue growth, year over year →↑ operating marginmedian +10%median -9%MDLNMMMSYKBSXBDXBAXSOLVDXCMWSTMMEDPODDGMEDTFXICUIMMSIIARTPENHAETNDMEMBCIRTCATECGKOSOFIXINSPNVCRUFPTATRCBVSAORTPRCTTCMDARAYANGOKIDSSKINLMATHTFLMDXGCERSSIBNTMCISTIMINFUBBNXKMTSOSURANIKDCTHRCELSGHTIRMDXTNTLUNGNPCEPDEXTELACARLLNSRSIMOBIAPYXSSIICVRXCLPTKRMDTLSIPROFSNWVCTSOIDXGUTMDRVPSNOAPREMNEPHDRIOVVOSBTCYNXGLMDAIMDNCPMINONE.SRTSSINTIVFNMTCNSPRAURXXAIRLUCDTNONINBSRNXTVTAKUSAQICUVYCOHRGNCNSYPLSEPETVFEMYOSRHCODXOBIORDGLPAVMGUTSRMD (+6%, 32%)
Surgical & Medical Instruments & Apparatus; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About ResMed

We are a global leader in digital health and cloud-connected medical devices. We design innovative technology to empower people to live happier, healthier lives. Our artificial intelligence, or AI, powered digital health solutions, cloud-connected devices and intelligent software are designed to make home healthcare more personalized, accessible and effective. By enabling better care, our products improve quality of life, reduce the impact of chronic disease, and lower costs for consumers and healthcare systems. Following our formation in 1989, we commercialized a continuous positive airway pressure, or CPAP, treatment for obstructive sleep apnea, or OSA, which was the first successful non-invasive treatment for OSA. CPAP systems deliver pressurized air, typically through a mask, to prevent collapse of the upper airway during sleep.

In its own words, from its 10-K, filed Aug 13, 2026.

ResMed against its Surgical & Medical Instruments & Apparatus peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +6% against the peers' median +5%. Operating margin: 32.0% against the peers' median 15.9%.

CompanyQuarterRevenueY/YOp. margin
RMD ResMedQ1 FY27$1.4B+6%32.0%
MDLN MedlineQ3 2026$7.9B+10%6.4%
MMM 3MQ3 2026$6.6B+1%23.7%
SYK StrykerQ3 2026$6.5B+8%15.9%
BSX Boston ScientificQ3 2026$5.1B+1%16.1%
BDX Becton DickinsonQ3 FY26$5.0B+5%13.3%
BAX Baxter InternationalQ3 2026$3.0B+5%7.6%
SOLV SolventumQ3 2026$1.9B-7%3.5%
DXCM DexComQ3 2026$1.3B+11%24.3%

Source: ResMed 10-Q on SEC EDGAR · CIK 943819 · Surgical & Medical Instruments & Apparatus

Guidance and outlook

ResMed: what its forward-looking statements are about (10-Q filed 2026-10-30)ResMed: what its forward-looking statements are about (10-Q filed 2026-10-30)Financing3Other2Demand1
6 statements; tone -0.33 (−1 all cautious, +1 all confident); 2 hedged.
ResMed: outlook statements against the filing beforeResMed: outlook statements against the filing beforeCautious2

13F: who owns RMD and who is buying

Largest holders of RMD (13F)Largest holders of RMD (13F)Vanguard Group$4.5BBlackRock$2.4BVanguard Capital Management LLC$1.8BVanguard Portfolio Management LLC$1.5BState Street$1.3BGeode Capital Management, LLC$845MBank of New York Mellon$818MFirst Trust Advisors LP$444MInvesco$402MMorgan Stanley$376M
Funds' net buying of RMD by quarter (13F)Funds' net buying of RMD by quarter (13F)−$104M2024-09−$247M2024-12$681M2025-03−$251M2025-06$46.9M2025-09$988M2025-12$309M2026-03$155M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on RMD

History

Every quarter: Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results

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中文版：ResMed（RMD）财报

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