ICU Medical, Inc. (ICUI) Financial Ratios
30 years of historical data (1996–2025) · Healthcare · Medical - Instruments & Supplies
EV/EBITDA
↑
91.73
↑+63% vs avg
5yr avg: 56.45
30Y Low6.4·High81.9
P/FCF
↑
32.16
-1% vs avg
5yr avg: 32.48
30Y Low12.6·High83.5
P/B Ratio
↓
1.40
↓-28% vs avg
5yr avg: 1.95
30Y Low1.1·High4.0
ROE
↓
0.3%
↓+139% vs avg
5yr avg: -0.8%
30Y Low-6%·High16%
Debt/EBITDA
↑
30.00
↑+83% vs avg
5yr avg: 16.43
30Y Low0.2·High36.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
ICUI Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
ICU Medical, Inc. trades at 3986.3x earnings, 66% above its 5-year average of 2402.9x, sitting at the 100th percentile of its historical range. Compared to the Healthcare sector median P/E of 22.1x, the stock trades at a premium of 17902%. On a free-cash-flow basis, the stock trades at 32.2x P/FCF, roughly in line with the 5-year average of 32.5x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.0B | $3.6B | $3.8B | $2.4B | $3.8B | $5.2B | $4.6B | $4.0B | $5.0B | $4.5B | $2.5B |
| Enterprise Value | $3.9B | $4.5B | $5.1B | $3.9B | $5.3B | $4.7B | $4.3B | $3.8B | $4.6B | $4.2B | $2.1B |
| P/E Ratio → | 3986.33 | 4755.67 | — | — | — | 50.07 | 53.36 | 39.90 | 172.65 | 65.65 | 40.26 |
| P/S Ratio | 1.32 | 1.59 | 1.59 | 1.06 | 1.65 | 3.93 | 3.64 | 3.18 | 3.54 | 3.49 | 6.70 |
| P/B Ratio | 1.40 | 1.67 | 1.93 | 1.13 | 1.80 | 3.20 | 3.08 | 2.93 | 3.93 | 3.76 | 3.85 |
| P/FCF | 32.16 | 38.70 | 30.36 | 33.13 | — | 27.74 | 37.85 | — | 83.46 | 60.28 | 38.88 |
| P/OCF | 16.42 | 19.76 | 18.55 | 14.46 | — | 19.32 | 20.79 | 39.56 | 30.96 | 29.18 | 28.27 |
P/E links to full P/E history page with 30-year chart
ICUI EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
ICU Medical, Inc.'s enterprise value stands at 91.7x EBITDA, 63% above its 5-year average of 56.4x. The Healthcare sector median is 14.1x, placing the stock at a 549% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.03 | 2.15 | 1.71 | 2.32 | 3.54 | 3.37 | 3.00 | 3.30 | 3.26 | 5.53 |
| EV / EBITDA | 91.73 | 105.76 | 112.72 | 15.31 | 27.49 | 20.95 | 22.21 | 20.62 | 47.90 | 81.86 | 20.56 |
| EV / EBIT | 91.73 | — | 126.26 | 157.71 | — | 37.54 | 43.20 | 32.96 | 23.41 | 79.04 | 24.59 |
| EV / FCF | — | 49.34 | 41.05 | 53.11 | — | 25.01 | 35.04 | — | 77.65 | 56.40 | 32.07 |
ICUI Profitability
Margins and return-on-capital ratios measuring operating efficiency
ICU Medical, Inc. earns an operating margin of 1.9%. ROE of 0.3% is modest. ROIC of 1.0% represents below-average returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 36.8% | 36.8% | 34.6% | 32.8% | 30.6% | 37.3% | 36.3% | 37.3% | 40.7% | 33.0% | 53.1% |
| Operating Margin | 1.9% | 1.9% | 1.8% | 1.0% | -1.9% | 9.4% | 7.7% | 8.5% | 1.5% | -1.2% | 21.9% |
| Net Profit Margin | 0.3% | 0.3% | -4.9% | -1.3% | -3.3% | 7.8% | 6.8% | 8.0% | 2.1% | 5.3% | 16.6% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 0.3% | 0.3% | -5.8% | -1.4% | -4.0% | 6.6% | 6.0% | 7.7% | 2.3% | 7.4% | 10.2% |
| ROA | 0.2% | 0.2% | -2.7% | -0.7% | -2.3% | 5.7% | 5.0% | 6.2% | 1.9% | 6.2% | 9.5% |
| ROIC | 1.0% | 1.0% | 0.9% | 0.5% | -1.4% | 8.2% | 6.4% | 7.8% | 1.8% | -2.0% | 27.1% |
| ROCE | 1.2% | 1.2% | 1.1% | 0.6% | -1.5% | 7.6% | 6.5% | 7.7% | 1.6% | -1.5% | 13.3% |
ICUI Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
ICU Medical, Inc. carries a Debt/EBITDA ratio of 30.0x, which is highly leveraged (822% above the sector average of 3.3x). Net debt stands at $977M ($1.3B total debt minus $308M cash).
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.60 | 0.60 | 0.84 | 0.80 | 0.83 | 0.03 | 0.04 | 0.03 | — | — | — |
| Debt / EBITDA | 30.00 | 30.00 | 36.16 | 6.77 | 9.02 | 0.20 | 0.27 | 0.20 | — | — | — |
| Net Debt / Equity | — | 0.46 | 0.68 | 0.68 | 0.73 | -0.31 | -0.23 | -0.17 | -0.27 | -0.24 | -0.67 |
| Net Debt / EBITDA | 22.80 | 22.80 | 29.36 | 5.76 | 7.93 | -2.28 | -1.78 | -1.26 | -3.58 | -5.63 | -4.36 |
| Debt / FCF | — | 10.64 | 10.69 | 19.99 | — | -2.72 | -2.81 | — | -5.80 | -3.88 | -6.81 |
| Interest Coverage | — | — | 0.40 | 0.22 | -0.61 | 143.64 | 56.00 | 195.56 | 30.48 | -7.37 | 702.89 |
ICUI Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
ICU Medical, Inc.'s current ratio of 2.39x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 1.15x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 2.53x to 2.39x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.39 | 2.39 | 2.59 | 2.53 | 2.50 | 5.13 | 4.68 | 3.55 | 3.72 | 4.11 | 14.04 |
| Quick Ratio | 1.15 | 1.15 | 1.54 | 1.06 | 1.09 | 3.68 | 3.07 | 2.19 | 2.47 | 2.74 | 12.82 |
| Cash Ratio | 0.62 | 0.62 | 0.55 | 0.53 | 0.43 | 2.83 | 2.10 | 1.18 | 1.53 | 1.43 | 10.98 |
| Asset Turnover | — | 0.55 | 0.57 | 0.52 | 0.50 | 0.70 | 0.72 | 0.75 | 0.88 | 0.86 | 0.54 |
| Inventory Turnover | 2.29 | 2.29 | 2.66 | 2.14 | 2.27 | 2.84 | 2.57 | 2.35 | 2.67 | 3.00 | 3.61 |
| Days Sales Outstanding | — | 29.53 | 31.06 | 29.43 | 39.53 | 34.61 | 36.69 | 58.29 | 51.21 | 42.11 | 56.87 |
ICUI Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
ICU Medical, Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business. The earnings yield of 0.0% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.0% | 0.0% | — | — | — | 2.0% | 1.9% | 2.5% | 0.6% | 1.5% | 2.5% |
| FCF Yield | 3.1% | 2.6% | 3.3% | 3.0% | — | 3.6% | 2.6% | — | 1.2% | 1.7% | 2.6% |
| Buyback Yield | 0.0% | 0.0% | 0.3% | 0.4% | 0.0% | 0.0% | 0.3% | 0.5% | 0.1% | 0.1% | 0.7% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.3% | 0.4% | 0.0% | 0.0% | 0.3% | 0.5% | 0.1% | 0.1% | 0.7% |
| Shares Outstanding | — | $25M | $24M | $24M | $24M | $22M | $22M | $22M | $22M | $21M | $17M |
Peer Comparison
Compare ICUI with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 ICUIYou | $3B | 3986.3 | 91.7 | 32.2 | 36.8% | 1.9% | 0.3% | 1.0% | 30.0 |
 BDX | $52B | 24.8 | 14.0 | 19.6 | 45.4% | 11.8% | 6.5% | 4.3% | 3.8 |
 BSX | $83B | 28.9 | 25.1 | 22.8 | 69.0% | 19.8% | 12.4% | 8.8% | 3.3 |
 ITGR | $3B | 29.9 | 13.0 | 28.2 | 23.1% | 11.3% | 6.1% | 5.4% | 4.2 |
 AVA | $3B | 17.1 | 10.4 | — | 24.2% | 18.0% | 7.3% | 4.5% | 5.3 |
 NVCR | $2B | -13.5 | — | — | 74.5% | -23.5% | -38.9% | -16.4% | — |
 MMSI | $4B | 28.9 | 12.9 | 17.0 | 48.7% | 12.2% | 8.7% | 7.2% | 2.8 |
 ATRC | $1B | -116.7 | 78.4 | 29.4 | 74.4% | -0.6% | -2.4% | -0.6% | 5.2 |
 ANGO | $459M | -13.3 | — | — | 53.9% | -13.7% | -17.5% | -22.9% | — |
 NXRT | $758M | -23.7 | 18.6 | 9.1 | 84.3% | 11.1% | -8.9% | 1.1% | 12.6 |
 MCK | $91B | 28.9 | 18.5 | 17.4 | 3.5% | 1.2% | — | 540.6% | 1.5 |
| Healthcare Median | — | 22.1 | 14.1 | 18.7 | 63.9% | -5.3% | -33.7% | -10.8% | 3.3 |
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Start ComparisonICUI — Frequently Asked Questions
Quick answers to the most common questions about buying ICUI stock.
What is ICU Medical, Inc.'s P/E ratio?
ICU Medical, Inc.'s current P/E ratio is 3986.3x. The historical average is 37.1x. This places it at the 100th percentile of its historical range.
What is ICU Medical, Inc.'s EV/EBITDA?
ICU Medical, Inc.'s current EV/EBITDA is 91.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 18.3x.
What is ICU Medical, Inc.'s ROE?
ICU Medical, Inc.'s return on equity (ROE) is 0.3%. The historical average is 8.7%.
Is ICUI stock overvalued?
Based on historical data, ICU Medical, Inc. is trading at a P/E of 3986.3x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are ICU Medical, Inc.'s profit margins?
ICU Medical, Inc. has 36.8% gross margin and 1.9% operating margin.
How much debt does ICU Medical, Inc. have?
ICU Medical, Inc.'s Debt/EBITDA ratio is 30.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.