Jun 2026 (Q4 FY26) — Aug 6, 2026
ResMed Q4 FY26 — Strong Growth, Strategic Portfolio Moves, and Increased Capital Returns
Read the full callResMed (RMD) earnings
- Jun 2026
- Jun 2026 (Q4 FY26)
- Jun 2026
ResMed earnings: last reported Thu, 6 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,464 | +8.6% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 30.7 | −3.1 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 383 | +1.0% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
6 of 7 judged targets kept · 16 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Annual gross margin accretion program (double-digit basis points per year through 2030) - FY26 installment | double-digit basis points improvement in gross margin every year through 2030 | Dec 2025 | We grew gross margin by 290 basis points. | Achieved |
| Residential Care Software (RCS) revenue growth reacceleration | mid- to high single-digit growth in the back half of FY26, reaching sustainable high single-digit growth with double-digit operating profit growth within 12 months | Sep 2025 | Residential care software revenue increased by 2% in the fourth quarter, with growth coming from MEDIFOX DAN and Brightree, partially offset by declines in MatrixCare. | Missed |
| Annual gross margin accretion program (double-digit basis points per year through 2030) - FY27 installment | low double-digit basis points expansion in fiscal year 2027 | Jun 2026 | For gross margin, we expect low double-digit expansion in fiscal year 2027, with continued productivity efficiencies and very modest strategic price increases, slightly more than offsetting ongoing macro uncertainty and inflation across electronic components and freight. | New |
1 of RESMED INC's 23 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 20 more targets are in the full ledger.
Claimed
- Headline revenue grew 9% (8% constant currency) in Q4 FY26.
- Non-GAAP gross margin expanded by 90 basis points year-over-year to 62.3% in Q4 FY26.
- Non-GAAP earnings per share increased by 16% to $2.95 in Q4 FY26.
- Fiscal Year 2026 saw 10% headline revenue growth, 180 basis points of operating margin expansion, and $1.6 billion in free cash flow.
- The quarterly dividend was increased by 10% to $0.66 per share, and total capital returns to shareholders are expected to exceed $1.85 billion in FY27, a 75% increase year-over-year.
Qualified
- Life support device revenue declined by 45% in the Americas and 38% in the Rest of World in Q4 FY26 due to the Astral field safety notice.
- A $42 million provision was taken in Q4 FY26 for expected costs associated with the Astral field safety notice.
- The suspension of Astral sales is expected to result in a $75 million revenue headwind for fiscal year 2027.
- The MatrixCare divestiture and Noctrix acquisition are expected to be dilutive to FY27 EPS by approximately $0.30 and $0.20, respectively.
- Q1 FY27 is expected to see a slight year-over-year contraction in gross margin.
Price
$239.77 +0.33% · +$0.8
Performance −10.6% 1Y
1Y: $268.09 on 17 Oct 2025 → $239.77. High $275.96 (9 Feb 2026), low $182.82 (2 Jun 2026).
- Previous close
- $238.97
- 52-week range
- $182.82 – $275.96
- One year
- −11.66%
Overview
- Symbol
- RMD
- Sector
- Health Care
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
6 of 7 judged targets kept · 16 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Annual gross margin accretion program (double-digit basis points per year through 2030) - FY26 installment | double-digit basis points improvement in gross margin every year through 2030 | Dec 2025 | We grew gross margin by 290 basis points. | Achieved |
| Residential Care Software (RCS) revenue growth reacceleration | mid- to high single-digit growth in the back half of FY26, reaching sustainable high single-digit growth with double-digit operating profit growth within 12 months | Sep 2025 | Residential care software revenue increased by 2% in the fourth quarter, with growth coming from MEDIFOX DAN and Brightree, partially offset by declines in MatrixCare. | Missed |
| Annual gross margin accretion program (double-digit basis points per year through 2030) - FY27 installment | low double-digit basis points expansion in fiscal year 2027 | Jun 2026 | For gross margin, we expect low double-digit expansion in fiscal year 2027, with continued productivity efficiencies and very modest strategic price increases, slightly more than offsetting ongoing macro uncertainty and inflation across electronic components and freight. | New |
Claimed
- Headline revenue grew 9% (8% constant currency) in Q4 FY26.
- Non-GAAP gross margin expanded by 90 basis points year-over-year to 62.3% in Q4 FY26.
- Non-GAAP earnings per share increased by 16% to $2.95 in Q4 FY26.
- Fiscal Year 2026 saw 10% headline revenue growth, 180 basis points of operating margin expansion, and $1.6 billion in free cash flow.
- The quarterly dividend was increased by 10% to $0.66 per share, and total capital returns to shareholders are expected to exceed $1.85 billion in FY27, a 75% increase year-over-year.
Qualified
- Life support device revenue declined by 45% in the Americas and 38% in the Rest of World in Q4 FY26 due to the Astral field safety notice.
- A $42 million provision was taken in Q4 FY26 for expected costs associated with the Astral field safety notice.
- The suspension of Astral sales is expected to result in a $75 million revenue headwind for fiscal year 2027.
- The MatrixCare divestiture and Noctrix acquisition are expected to be dilutive to FY27 EPS by approximately $0.30 and $0.20, respectively.
- Q1 FY27 is expected to see a slight year-over-year contraction in gross margin.
The full ledger
Open RESMED INC’s full ledger
A free account opens 5 company ledgers a month. All 23 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q3 FY26) — Apr 30, 2026
ResMed Inc. Q3 FY26 — Strong Revenue Growth, Margin Expansion, and Noctrix Acquisition
Read the full callDec 2025 (Q2 FY26) — Jan 29, 2026
ResMed Q2 FY26 — Strong Revenue Growth, Margin Expansion, and Increased Share Repurchases
Read the full callEvery analysed call
ResMed earnings calls (RMD)
Financials
What the filings say
Net profit, year on year: +1% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,225 | 1,282 | 1,292 | 1,348 | 1,336 | 1,423 | 1,431 | 1,464 |
| Operating profit | 387 | 417 | 426 | 455 | 447 | 492 | 500 | 449 |
| Operating margin | 31.6% | 32.5% | 33.0% | 33.7% | 33.4% | 34.6% | 34.9% | 30.7% |
| Other income | -4 | 1 | -9 | 4 | 0 | 4 | 3 | 25 |
| Profit before tax | 383 | 418 | 418 | 458 | 447 | 496 | 502 | 474 |
| Tax rate | 18.8% | 17.6% | 12.6% | 17.1% | 22.0% | 20.9% | 20.6% | 19.1% |
| Net profit | 311 | 345 | 365 | 380 | 349 | 393 | 399 | 383 |
| EPS ($ per share) | 2.12 | 2.35 | 2.49 | — | 2.38 | 2.69 | 2.74 | — |
| Line item | Jun 2019 | Jun 2020 | Jun 2021 | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Reserves | 2,436 | 2,833 | 3,080 | 3,614 | 4,253 | 4,992 | 6,081 | 7,255 |
| Total liabilities | 2,035 | 2,090 | 1,842 | 1,735 | 2,622 | 2,008 | 2,207 | 2,381 |
| Fixed assets | 387 | 417 | 463 | 498 | 538 | 548 | 551 | 582 |
| Total assets | 4,108 | 4,587 | 4,728 | 5,096 | 6,752 | 6,872 | 8,174 | 8,966 |
| Line item | Jun 2019 | Jun 2020 | Jun 2021 | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 459 | 802 | 737 | 351 | 693 | 1,401 | 1,752 | 1,806 |
| Cash from investing | -1,076 | -180 | -158 | -230 | -1,160 | -270 | -200 | -545 |
| Cash from financing | 581 | -317 | -765 | -128 | 423 | -1,119 | -606 | -1,007 |
| Net cash flow | -42 | 316 | -168 | -22 | -46 | 10 | 971 | 260 |
| Capital expenditure | -69 | -95 | -103 | -135 | -120 | -99 | -90 | -156 |
| Free cash flow | 390 | 707 | 634 | 216 | 574 | 1,302 | 1,662 | 1,650 |
RMD revenue by segment
Residential Care Software shrank from 13% to 12% of revenue over the last two years.
| Segment | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | Q4 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Sleep and Breathing Health | 87% | 88% | 88% | 88% | 88% | 88% | 88% | 88% | +9.4% |
| Residential Care Software | 13% | 12% | 12% | 12% | 12% | 12% | 12% | 12% | +2.9% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
RMD operating KPIs by quarter
| KPI | Dec 2024 Q2 FY25 | Mar 2025 Q3 FY25 | Mar 2026 Q3 FY26 | Jun 2026 Q4 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|
| Employees | 10KThank you to all the 10,000 ResMedians for your hard work and dedication to make our mission possible.Source: earnings call transcript | 10K+Thanks to the over 10,000 ResMedians who make that happen by delivering products and services to serve patients in over 140 countries worldwide.Source: earnings call transcript | 10K+On behalf of our ResMed Board and over 10,000 ResMedians in 140 countries, I'd like to thank Brett, who I've had the privilege to partner with for 26 years, including the last 55 quarters as a CEO and CFO team.Source: earnings call transcript | 11K+I am so impressed by the talent of the more than 11,000 ResMedians around the world and their commitment to serving patients.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q3 FY2026 · share of revenue
- Global 100%
- Us Canada and Latin America 57%
- Combined Europe Asia and Other Markets 31% ↑ 1 pt
As RMD cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
76 filings between Nov 3, 2025 and Oct 7, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$22.26M
31 sales by 5 insiders
100% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 17
- Award — granted as compensation
- 15
- Option exercise — converted options into shares
- 13
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Farrell Michael J. | — | $14.60M | Oct 7, 2026 |
| FARRELL PETER C | — | $5.01M | Sep 2, 2026 |
| Sandercock Brett | — | $1.96M | Apr 1, 2026 |
| De Witte Jan | — | $645.9K | Nov 25, 2025 |
| Rider Michael J | — | $37.3K | Feb 4, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 7, 2026 | Farrell Michael J. Chairman and CEO | Sale 10b5-1 plan | 4,991 | $1.13M |
| Oct 7, 2026 | Farrell Michael J. Chairman and CEO | Option exercise 10b5-1 plan | 4,991 | $730.4K |
| Sep 8, 2026 | Farrell Michael J. Chairman and CEO | Sale 10b5-1 plan | 4,991 | $1.11M |
| Sep 8, 2026 | Farrell Michael J. Chairman and CEO | Option exercise 10b5-1 plan | 4,991 | $730.4K |
| Sep 2, 2026 | FARRELL PETER C Director | Sale 10b5-1 plan | 970 | $227.7K |
| Aug 14, 2026 | Farrell Michael J. Chairman and CEO | Award | 13,547 | $0 |
| Aug 14, 2026 | Rider Michael J Global General Counsel | Award | 3,230 | $0 |
| Aug 14, 2026 | Bloomer Aaron Chief Financial Officer | Award | 9,072 | $0 |
| Aug 14, 2026 | Leong Justin Chief Product Officer | Award | 6,461 | $0 |
| Aug 7, 2026 | Farrell Michael J. Chairman and CEO | Option exercise 10b5-1 plan | 4,991 | $730.4K |
| Aug 7, 2026 | Farrell Michael J. Chairman and CEO | Sale 10b5-1 plan | 4,991 | $1.03M |
| Aug 5, 2026 | FARRELL PETER C Director | Sale 10b5-1 plan | 8,000 | $1.80M |
| Jul 7, 2026 | Farrell Michael J. Chairman and CEO | Sale 10b5-1 plan | 4,991 | $1.09M |
| Jul 7, 2026 | Farrell Michael J. Chairman and CEO | Option exercise 10b5-1 plan | 4,991 | $730.4K |
| Jun 8, 2026 | Farrell Michael J. Chairman and CEO | Sale 10b5-1 plan | 4,991 | $968.1K |
| Jun 8, 2026 | Farrell Michael J. Chairman and CEO | Option exercise 10b5-1 plan | 4,991 | $730.4K |
| Jun 1, 2026 | Rider Michael J Global General Counsel | Tax withheld | 269 | $51.2K |
| May 7, 2026 | Farrell Michael J. Chairman and CEO | Sale 10b5-1 plan | 4,991 | $1.04M |
| May 7, 2026 | Farrell Michael J. Chairman and CEO | Option exercise 10b5-1 plan | 4,991 | $730.4K |
| Apr 7, 2026 | Farrell Michael J. Chairman and CEO | Option exercise 10b5-1 plan | 4,991 | $730.4K |
| Apr 7, 2026 | Farrell Michael J. Chairman and CEO | Sale 10b5-1 plan | 4,991 | $1.13M |
| Apr 1, 2026 | Sandercock Brett Chief Financial Officer | Sale 10b5-1 plan | 1,000 | $224.3K |
| Apr 1, 2026 | FARRELL PETER C Director | Sale 10b5-1 plan | 2,000 | $450.0K |
| Mar 9, 2026 | Farrell Michael J. Chairman and CEO | Sale 10b5-1 plan | 4,991 | $1.25M |
| Mar 9, 2026 | Farrell Michael J. Chairman and CEO | Option exercise 10b5-1 plan | 4,991 | $730.4K |
| Mar 4, 2026 | FARRELL PETER C Director | Sale 10b5-1 plan | 2,000 | $520.4K |
| Mar 2, 2026 | Sandercock Brett Chief Financial Officer | Sale 10b5-1 plan | 1,000 | $254.3K |
| Feb 9, 2026 | Farrell Michael J. Chairman and CEO | Sale 10b5-1 plan | 4,991 | $1.37M |
| Feb 9, 2026 | Farrell Michael J. Chairman and CEO | Option exercise 10b5-1 plan | 4,991 | $730.4K |
| Feb 4, 2026 | FARRELL PETER C Director | Sale 10b5-1 plan | 2,000 | $502.6K |
| Feb 4, 2026 | Rider Michael J Global General Counsel | Sale 10b5-1 plan | 50 | $13.0K |
| Feb 2, 2026 | Sandercock Brett Chief Financial Officer | Sale 10b5-1 plan | 1,000 | $257.0K |
| Jan 7, 2026 | FARRELL PETER C Director | Sale 10b5-1 plan | 2,000 | $497.7K |
| Jan 7, 2026 | Farrell Michael J. Chairman and CEO | Option exercise 10b5-1 plan | 4,991 | $730.4K |
| Jan 7, 2026 | Farrell Michael J. Chairman and CEO | Sale 10b5-1 plan | 4,991 | $1.24M |
| Jan 2, 2026 | Sandercock Brett Chief Financial Officer | Sale 10b5-1 plan | 1,000 | $241.8K |
| Jan 2, 2026 | Rider Michael J Global General Counsel | Sale 10b5-1 plan | 50 | $12.1K |
| Dec 8, 2025 | Farrell Michael J. Chairman and CEO | Sale 10b5-1 plan | 4,991 | $1.25M |
| Dec 8, 2025 | Farrell Michael J. Chairman and CEO | Option exercise 10b5-1 plan | 4,991 | $730.4K |
| Dec 3, 2025 | FARRELL PETER C Director | Sale 10b5-1 plan | 2,000 | $502.9K |
| Dec 1, 2025 | Sandercock Brett Chief Financial Officer | Sale 10b5-1 plan | 1,000 | $244.2K |
| Dec 1, 2025 | Rider Michael J Global General Counsel | Sale 10b5-1 plan | 50 | $12.2K |
| Nov 25, 2025 | De Witte Jan Director | Sale 10b5-1 plan | 2,055 | $524.0K |
| Nov 20, 2025 | Leong Justin Chief Product Officer | Award | 1,848 | $0 |
| Nov 20, 2025 | De Witte Jan Director | Award | 1,073 | $0 |
| Nov 20, 2025 | Hernandez John Director | Award | 1,073 | $0 |
| Nov 20, 2025 | Mowad-Nassar Nicole Director | Award | 536 | $0 |
| Nov 20, 2025 | Tan Desney Director | Award | 1,073 | $0 |
| Nov 20, 2025 | Gill Harjit Director | Award | 1,073 | $0 |
| Nov 20, 2025 | Drexler Karen Director | Award | 1,073 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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