Is the business good?
How good a business is IRMD?
IRADIMED CORPORATION earns 52% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
52%
Return on invested capital · cost of capital 9.0% · 43 points above what the capital costs: growth creates value
- Operating margin
- 32%
Operating margin · Medical Devices median 11% · 12 months to Q1 2026
- Cash conversion
- 1.04×
Cash conversion · 0.74× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- +0.34%
Share count, year on year · flat: no meaningful dilution
| Year | Operating margin |
|---|---|
| FY2020 | −2.4% |
| FY2021 | 23% |
| FY2022 | 29% |
| FY2023 | 31% |
| FY2024 | 30% |
| FY2025 | 31% |
Details›
- Gross margin12 months to Q1 2026
- 77%
- Operating margin12 months to Q1 2026
- 32%
- Net margin12 months to Q1 2026
- 27%
- Free cash flow margin
- 28%
- R&D as % of revenue
- 3.8%
- Revenue, trailing twelve months
- $86M
- Free cash flow, trailing twelve months
- $24M
- Net income, trailing twelve months
- $24M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 52%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.