Is the business good?
How good a business is ICUI?
ICU Medical, Inc. earns 1.1% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
1.1%
Return on invested capital · cost of capital 9.0% · 7.9 points below what the capital costs: growth destroys value
- Operating margin
- 2.0%
Operating margin · Medical Instruments & Supplies median 5.8% · 12 months to Q1 2026
- Share count, year on year
- +2.6%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 4.0%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | 7.7% |
| FY2021 | 9.4% |
| FY2022 | −1.9% |
| FY2023 | 1.0% |
| FY2024 | 1.8% |
| FY2025 | 1.9% |
Details›
- Gross margin12 months to Q1 2026
- 38%
- Operating margin12 months to Q1 2026
- 2.0%
- Free cash flow margin
- 3.8%
- R&D as % of revenue
- 4.0%
- Revenue, trailing twelve months
- $2.16B
- Free cash flow, trailing twelve months
- $83M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 1.1%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Medical Instruments & Supplies
Ranks #23 of 27 by Smart Score