Question 1

What is ResMed's P/FCF ratio?

Accepted Answer

ResMed (RMD) P/FCF ratio is 16.2× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for ResMed?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For ResMed specifically, the relevant sector benchmark is the current sector median of 19.1×.

Question 5

Is ResMed's P/FCF ratio high or low?

Accepted Answer

ResMed's P/FCF ratio of 16.2× is below its own 5-year average of 56.8× and below the sector median of 19.1×. That places the current reading at the 1th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is ResMed's historical P/FCF ratio range?

Accepted Answer

In the available daily series, ResMed (RMD) P/FCF ratio has ranged from a low of 13.1× in 2011 to a high of 440.5× in 2002. The 5-year average is 56.8× and the 5-year median is 27.1×.

Question 7

What was ResMed's P/FCF ratio in 2025?

Accepted Answer

ResMed (RMD) P/FCF ratio at the end of 2025 was 22.8×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does ResMed's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$37.8B	$1.66B	22.8×	+1.5×	Jun 30, 2025
2024	$27.5B	$1.29B	21.3×	-36.1×	Jun 30, 2024
2023	$32.1B	$559M	57.4×	-99.8×	Jun 30, 2023
2022	$30.7B	$195M	157.2×	+99.3×	Jun 30, 2022
2021	$35.9B	$620M	57.9×	+18.0×	Jun 30, 2021
2020	$27.8B	$696M	39.9×	-6.6×	Jun 30, 2020
2019	$17.8B	$382M	46.5×	+12.4×	Jun 30, 2019
2018	$14.8B	$434M	34.1×	+1.8×	Jun 30, 2018
2017	$11.1B	$343M	32.3×	+13.8×	Jun 30, 2017
2016	$8.89B	$480M	18.5×	-7.0×	Jun 30, 2016
2015	$7.94B	$311M	25.5×	+2.6×	Jun 30, 2015
2014	$7.12B	$310M	22.9×	+3.7×	Jun 30, 2014
2013	$6.38B	$331M	19.3×	+5.4×	Jun 30, 2013
2012	$4.45B	$322M	13.8×	-8.9×	Jun 30, 2012
2011	$4.72B	$208M	22.7×	-13.7×	Jun 30, 2011
2010	$4.61B	$127M	36.4×	+11.8×	Jun 30, 2010
2009	$3.07B	$125M	24.6×	-18.9×	Jun 30, 2009
2008	$2.7B	$62.1M	43.5×	-192.6×	Jun 30, 2008
2007	$3.2B	$13.6M	236.1×	—	Jun 30, 2007
2006	$3.55B	-$3.72M	—	—	Jun 30, 2006
2005	$2.3B	$31.4M	73.4×	-15.9×	Jun 30, 2005
2004	$1.72B	$19.3M	89.3×	+50.6×	Jun 30, 2004
2003	$1.3B	$33.6M	38.8×	-83.4×	Jun 30, 2003
2002	$911M	$7.46M	122.2×	—	Jun 30, 2002


McKesson (MCK)	17.8×
Gilead Sciences (GILD)	16.9×
DexCom (DXCM)	16.9×
Pfizer (PFE)	16.7×
Humana (HUM)	16.4×
Quest Diagnostics (DGX)	16.3×
UnitedHealth Group (UNH)	15.9×
Labcorp Holdings (LH)	15.9×
Becton, Dickinson and (BDX)	14.0×
HCA Healthcare (HCA)	13.5×
Elevance Health (ELV)	13.4×
Incyte (INCY)	12.9×
CVS Health (CVS)	12.4×
Universal Health Services (UHS)	12.2×
Baxter International (BAX)	12.1×
Cardinal Health (CAH)	11.3×
IQVIA (IQV)	11.3×
Bristol-Myers Squibb (BMY)	10.4×
Biogen (BIIB)	10.3×
Zimmer Biomet Holdings (ZBH)	9.6×
Cigna (CI)	9.1×
Viatris (VTRS)	9.1×
DaVita (DVA)	6.9×
Teladoc Health (TDOC)	3.9×
Centene (CNC)	2.5×

P/FCF Ratio for ResMed (RMD) 2002-2026

P/FCF Ratio daily chart for ResMed (RMD)

Historical P/FCF Ratio for ResMed (RMD) from 2002 to 2025

About P/FCF Ratio at ResMed (RMD)

ResMed P/FCF Ratio by Year

ResMed P/FCF Ratio 2025: 22.8×

ResMed P/FCF Ratio 2024: 21.3×

ResMed P/FCF Ratio 2023: 57.4×

ResMed P/FCF Ratio 2022: 157.2×

ResMed P/FCF Ratio 2021: 57.9×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

ResMed (RMD) Key Financials