IRadimed Corporation (IRMD) 10-Year Financial Performance & Capital Metrics

IRMD • • Industrial / General

HealthcareMedical DevicesDiagnostic & Imaging EquipmentMedical Imaging Systems

AboutIRADIMED CORPORATION develops, manufactures, markets, and distributes magnetic resonance imaging (MRI) compatible medical devices, and related accessories and services in the United States and internationally. It offers MRidium MRI compatible intravenous (IV) infusion pump system with associated disposable IV tubing sets; and MRI compatible patient vital signs monitoring system. The company also provides non-magnetic IV poles, wireless remote displays/controls, side car pump modules, dose error reduction systems, and SpO2 monitoring with sensors and accessories. It serves hospitals, acute care facilities, and outpatient imaging centers. The company sells its products through direct field sales representatives, regional sales directors, clinical support representatives, and independent distributors. IRADIMED CORPORATION was incorporated in 1992 and is headquartered in Winter Springs, Florida.Show more

Revenue $73M +11.7%
EBITDA $23M +9.5%
Net Income $19M +11.9%
EPS (Diluted) 1.50 +11.1%
Gross Margin 76.94% +0.6%
EBITDA Margin 31.11% -2.0%
Operating Margin 29.99% -1.9%
Net Margin 26.26% +0.1%
ROE 24.31% +2.6%
ROIC 56.38% -21.9%
Debt/Equity 0.00 -93.8%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Excellent 3Y average ROE of 21.9%
✓Strong Piotroski F-Score: 8/9
✓FCF machine: 24.1% free cash flow margin
✓Momentum leader: RS Rating 87 (top 13%)
✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

✗Expensive at 15.1x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y16.69%

5Y13.72%

3Y20.54%

TTM12.91%

Profit (Net Income) CAGR

10Y25.09%

5Y14.84%

3Y27.29%

TTM13.73%

EPS CAGR

10Y22.32%

5Y13.97%

3Y26.56%

TTM13.26%

ROCE

10Y Avg19.76%

5Y Avg17.16%

3Y Avg24.39%

Latest26.52%

Peer Comparison

Medical Imaging Systems

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
IRMDIRadimed Corporation	1.3B	102.57	68.38	11.71%	26.31%	21.54%	1.35%	0.00
BRKRBruker Corporation	7.52B	49.46	65.08	13.56%	-0.61%	-0.84%	1.81%	1.24
STESTERIS plc	26.33B	268.26	43.27	6.24%	12.07%	9.8%	2.95%	0.33
FONRFONAR Corporation	114.98M	18.64	15.15	1.43%	7.08%	4.62%	6.48%	0.24
HYPRHyperfine, Inc.	100.18M	1.22	-2.18	16.84%	-378.17%	-149.05%		0.01
PACBPacific Biosciences of California, Inc.	709.48M	2.35	-2.20	-23.19%	-325.8%	-13.95%		1.33
IRIXIRIDEX Corporation	23.21M	1.35	-2.50	-6.17%	-10.04%	-108.67%		2.21
MASS908 Devices Inc.	199.79M	5.52	-2.60	18.72%	-7.17%	-3.03%		0.06

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	31.59M	32.5M	23.08M	30.44M	38.52M	31.72M	41.81M	53.3M	65.56M	73.24M
Revenue Growth %	1.02%	0.03%	-0.29%	0.32%	0.27%	-0.18%	0.32%	0.27%	0.23%	0.12%
Cost of Goods Sold+	5.84M	6.15M	5.57M	7.21M	8.82M	8.14M	9.76M	12.02M	15.4M	16.89M
COGS % of Revenue	0.18%	0.19%	0.24%	0.24%	0.23%	0.26%	0.23%	0.23%	0.23%	0.23%
Gross Profit+	25.75M	26.34M	17.51M	23.23M	29.7M	23.57M	32.05M	41.28M	50.16M	56.35M
Gross Margin %	0.82%	0.81%	0.76%	0.76%	0.77%	0.74%	0.77%	0.77%	0.77%	0.77%
Gross Profit Growth %	1.1%	0.02%	-0.34%	0.33%	0.28%	-0.21%	0.36%	0.29%	0.22%	0.12%
Operating Expenses+	14.24M	15.42M	16.23M	17.22M	21.05M	24.33M	22.23M	25.65M	30.12M	34.39M
OpEx % of Revenue	0.45%	0.47%	0.7%	0.57%	0.55%	0.77%	0.53%	0.48%	0.46%	0.47%
Selling, General & Admin	12.48M	14.07M	14.5M	15.71M	19.62M	22.43M	20.33M	23.38M	27.26M	31.55M
SG&A % of Revenue	0.39%	0.43%	0.63%	0.52%	0.51%	0.71%	0.49%	0.44%	0.42%	0.43%
Research & Development	1.76M	1.35M	1.72M	1.52M	1.43M	1.9M	1.91M	2.28M	2.86M	2.83M
R&D % of Revenue	0.06%	0.04%	0.07%	0.05%	0.04%	0.06%	0.05%	0.04%	0.04%	0.04%
Other Operating Expenses	121.39K	32.68K	111.38K	0	0	0	0	0	0	0
Operating Income+	11.51M	10.92M	1.29M	6M	8.65M	-756.09K	9.82M	15.63M	20.04M	21.96M
Operating Margin %	0.36%	0.34%	0.06%	0.2%	0.22%	-0.02%	0.23%	0.29%	0.31%	0.3%
Operating Income Growth %	2.76%	-0.05%	-0.88%	3.67%	0.44%	-1.09%	13.98%	0.59%	0.28%	0.1%
EBITDA+	11.74M	11.17M	1.73M	6.56M	9.89M	582.73K	11.22M	16.3M	20.8M	22.78M
EBITDA Margin %	0.37%	0.34%	0.07%	0.22%	0.26%	0.02%	0.27%	0.31%	0.32%	0.31%
EBITDA Growth %	2.65%	-0.05%	-0.85%	2.79%	0.51%	-0.94%	18.26%	0.45%	0.28%	0.1%
D&A (Non-Cash Add-back)	223.94K	248.3K	445.27K	559.73K	1.24M	1.34M	1.41M	670.67K	765.18K	817.66K
EBIT	11.63M	10.95M	1.4M	6.2M	8.65M	-756.09K	9.82M	15.63M	20.04M	21.96M
Net Interest Income+	148.91K	126.42K	122.58K	238.11K	388.8K	132.19K	34.81K	581.85K	1.86M	2.19M
Interest Income	148.91K	126.42K	122.58K	238.11K	388.8K	132.19K	34.81K	581.85K	1.86M	2.19M
Interest Expense	0	0	0	0	0	0	0	0	0	0
Other Income/Expense	121.39K	32.68K	111.38K	193.54K	395.91K	139.21K	18.61K	553.1K	1.7M	2.31M
Pretax Income+	11.63M	10.95M	1.4M	6.2M	9.04M	-616.88K	9.84M	16.18M	21.74M	24.28M
Pretax Margin %	0.37%	0.34%	0.06%	0.2%	0.23%	-0.02%	0.24%	0.3%	0.33%	0.33%
Income Tax+	4.1M	3.74M	896.62K	-106.14K	-587.64K	-1.99M	510.82K	3.35M	4.55M	5.04M
Effective Tax Rate %	0.65%	0.66%	0.36%	1.02%	1.06%	-2.22%	0.95%	0.79%	0.79%	0.79%
Net Income+	7.53M	7.21M	499.76K	6.3M	9.63M	1.37M	9.33M	12.83M	17.19M	19.23M
Net Margin %	0.24%	0.22%	0.02%	0.21%	0.25%	0.04%	0.22%	0.24%	0.26%	0.26%
Net Income Growth %	2.67%	-0.04%	-0.93%	11.61%	0.53%	-0.86%	5.81%	0.38%	0.34%	0.12%
Net Income (Continuing)	7.53M	7.21M	499.76K	6.3M	9.63M	1.37M	9.33M	12.83M	17.19M	19.23M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.60	0.60	0.04	0.52	0.78	0.11	0.74	1.02	1.35	1.50
EPS Growth %	2%	0%	-0.93%	12%	0.5%	-0.86%	5.73%	0.38%	0.32%	0.11%
EPS (Basic)	0.68	0.67	0.05	0.52	0.85	0.11	0.76	1.02	1.36	1.52
Diluted Shares Outstanding	12.56M	11.99M	11.72M	12.11M	12.28M	12.44M	12.59M	12.64M	12.72M	12.78M
Basic Shares Outstanding	11M	10.82M	10.64M	12.11M	11.28M	12.12M	12.35M	12.56M	12.6M	12.67M
Dividend Payout Ratio	-	-	-	-	-	-	-	0.98%	0.77%	0.71%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	33.95M	34.17M	35.11M	44.54M	58.96M	63.74M	76.24M	77.49M	76M	75.24M
Cash & Short-Term Investments	26.97M	25.68M	26.34M	34.38M	46.25M	51.98M	62.5M	57.96M	49.76M	52.23M
Cash Only	19.37M	17.71M	18.21M	28.03M	43.48M	50.07M	62M	57.96M	49.76M	52.23M
Short-Term Investments	7.6M	7.97M	8.14M	6.35M	2.77M	1.91M	501.86K	0	0	0
Accounts Receivable	3.86M	3.78M	3.78M	4.21M	7.29M	4.57M	5.14M	13.27M	12.22M	10.56M
Days Sales Outstanding	44.64	42.41	59.76	50.48	69.11	52.65	44.84	90.9	68.06	52.61
Inventory	2.38M	3.89M	4.21M	4.06M	3.64M	3.93M	4.3M	5.37M	12.82M	10.4M
Days Inventory Outstanding	148.94	230.49	275.94	205.46	150.77	176.34	160.73	163.03	303.8	224.76
Other Current Assets	459.4K	674.77K	648.88K	526.79K	407.8K	771.67K	1M	630.96K	1.19M	2.05M
Total Non-Current Assets+	1.29M	3.03M	3.9M	3.9M	7.77M	7.33M	6.64M	8.02M	16.15M	23.08M
Property, Plant & Equipment	905.62K	1.46M	1.87M	1.87M	5.01M	4.84M	4.55M	4.61M	11.33M	16.97M
Fixed Asset Turnover	34.89x	22.32x	12.35x	16.28x	7.69x	6.56x	9.19x	11.57x	5.79x	4.32x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	175.51K	918.71K	885.5K	832.52K	860.09K	960.88K	1.12M	2.07M	2.52M	3.1M
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	124.19K	173.82K	200.2K	109.76K	232K	261.99K	201.32K	648.67K	181.45K	198.91K
Total Assets+	35.24M	37.19M	39.01M	48.44M	66.73M	71.07M	82.88M	85.51M	92.16M	98.33M
Asset Turnover	0.90x	0.87x	0.59x	0.63x	0.58x	0.45x	0.50x	0.62x	0.71x	0.74x
Asset Growth %	0.51%	0.06%	0.05%	0.24%	0.38%	0.07%	0.17%	0.03%	0.08%	0.07%
Total Current Liabilities+	2.9M	3.66M	4.08M	4.69M	5.86M	4.92M	6.82M	8.55M	16.33M	8.51M
Accounts Payable	1.01M	1.12M	656.72K	772.47K	993.74K	657.05K	782.9K	1.8M	1.86M	1.9M
Days Payables Outstanding	62.84	66.47	43.04	39.1	41.14	29.45	29.26	54.63	44	40.98
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	536.92K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	64.77K	280.63K	278.61K	315.94K	190.18K	236.49K	255.31K	94.03K	367.46K	4.04M
Current Ratio	11.73x	9.33x	8.61x	9.50x	10.06x	12.96x	11.18x	9.06x	4.65x	8.84x
Quick Ratio	10.90x	8.27x	7.58x	8.63x	9.44x	12.16x	10.54x	8.43x	3.87x	7.62x
Cash Conversion Cycle	130.74	206.43	292.66	216.85	178.74	199.53	176.3	199.3	327.85	236.39
Total Non-Current Liabilities+	415.78K	1.64M	2M	1.81M	5.35M	4.76M	3.88M	3.29M	4.41M	2.99M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	2.72M	2.46M	2.21M	1.91M	1.62M	1.42K
Deferred Tax Liabilities	374.25K	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	0	0	0	0	0	0
Total Liabilities	3.31M	5.31M	6.08M	6.5M	11.2M	9.68M	10.71M	11.84M	20.74M	11.51M
Total Debt+	0	0	0	0	2.96M	2.72M	2.48M	2.21M	2.04M	154.69K
Net Debt	-19.37M	-17.71M	-18.21M	-28.03M	-40.53M	-47.35M	-59.52M	-55.76M	-47.72M	-52.08M
Debt / Equity	-	-	-	-	0.05x	0.04x	0.03x	0.03x	0.03x	0.00x
Debt / EBITDA	-	-	-	-	0.30x	4.66x	0.22x	0.14x	0.10x	0.01x
Net Debt / EBITDA	-1.65x	-1.59x	-10.52x	-4.27x	-4.10x	-81.26x	-5.30x	-3.42x	-2.29x	-2.29x
Interest Coverage	-	-	-	-	-	-	-	-	-	-
Total Equity+	31.93M	31.89M	32.93M	41.95M	55.52M	61.38M	72.17M	73.67M	71.42M	86.82M
Equity Growth %	0.53%	-0%	0.03%	0.27%	0.32%	0.11%	0.18%	0.02%	-0.03%	0.22%
Book Value per Share	2.54	2.66	2.81	3.46	4.52	4.93	5.73	5.83	5.61	6.79
Total Shareholders' Equity	31.93M	31.89M	32.93M	41.95M	55.52M	61.38M	72.17M	73.67M	71.42M	86.82M
Common Stock	1.12K	1.07K	1.06K	1.1K	1.18K	1.23K	1.25K	1.26K	1.26K	1.27K
Retained Earnings	12.66M	19.87M	20.36M	26.67M	36.3M	37.67M	46.99M	47.26M	43.26M	56.79M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-55.28K	-36.85K	-48.91K	-42.19K	30.37K	37.09K	17.01K	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	7.65M	9.41M	3.42M	7.38M	10.23M	5.82M	11.26M	10.04M	13.47M	25.62M
Operating CF Margin %	0.24%	0.29%	0.15%	0.24%	0.27%	0.18%	0.27%	0.19%	0.21%	0.35%
Operating CF Growth %	1.96%	0.23%	-0.64%	1.16%	0.39%	-0.43%	0.94%	-0.11%	0.34%	0.9%
Net Income	7.53M	7.21M	499.76K	6.3M	9.63M	1.37M	9.33M	12.83M	17.19M	19.23M
Depreciation & Amortization	223.94K	248.3K	1.31M	1.11M	1.24M	1.34M	1.41M	670.67K	765.18K	817.66K
Stock-Based Compensation	1.22M	1.84M	2.45M	1.76M	1.85M	3.96M	1.46M	1.39M	2.19M	2.52M
Deferred Taxes	-16.12K	-570.91B	-150.66K	-144.43K	-596.75K	389.93K	523.61K	57.1K	-1.17M	-697.65K
Other Non-Cash Items	-1.6M	570.91B	424.97K	155.66K	68.69K	-70.07K	119.04K	148.74K	402.32K	-3.02K
Working Capital Changes	290.3K	514.35K	-1.12M	-1.81M	-1.97M	-1.17M	-1.58M	-5.06M	-5.91M	3.75M
Change in Receivables	-1.91M	75.3K	-201.59K	-446.9K	-3.11M	2.69M	-575.54K	-8.24M	841.91K	1.76M
Change in Inventory	-308.41K	-1.48M	-334.11K	-121.59K	123.68K	-282.9K	-393.32K	-1.31M	-7.47M	3.13M
Change in Payables	376.29K	1.11K	-523.45K	34.16K	149.32K	-403.57K	30.41K	1.12M	-216.44K	-861.62K
Cash from Investing+	-61.47K	-1.94M	-1.02M	1.52M	3.2M	246.97K	648.24K	-1.37M	-8.01M	-8.82M
Capital Expenditures	-314.84K	-1.52M	-824.76K	-264.67K	-368.28K	-636.75K	-482.32K	-823.02K	-7.44M	-8.01M
CapEx % of Revenue	0.01%	0.05%	0.04%	0.01%	0.01%	0.02%	0.01%	0.02%	0.11%	0.11%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	237.25K	-743.49K	-49.19K	-36.35K	-117.53K	0	-259.43K	-1.05M	-566.66K	-811.75K
Cash from Financing+	2.33M	-9.12M	-1.9M	929.87K	2.02M	522.48K	24.43K	-12.71M	-13.66M	-14.34M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	-12.56M	-13.22M	-13.68M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	2.33M	850.69K	-81.77K	929.87K	2.02M	-1.21M	24.43K	-147.27K	-433.6K	-688.16K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	7.33M	7.88M	2.59M	7.11M	9.75M	5.18M	10.52M	8.17M	5.46M	17.62M
FCF Margin %	0.23%	0.24%	0.11%	0.23%	0.25%	0.16%	0.25%	0.15%	0.08%	0.24%
FCF Growth %	2.71%	0.07%	-0.67%	1.74%	0.37%	-0.47%	1.03%	-0.22%	-0.33%	2.23%
FCF per Share	0.58	0.66	0.22	0.59	0.79	0.42	0.84	0.65	0.43	1.38
FCF Conversion (FCF/Net Income)	1.02x	1.30x	6.84x	1.17x	1.06x	4.25x	1.21x	0.78x	0.78x	1.33x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	2.7M	3.39M	1.21M	1.38M	12K	0	970K	1.71M	5.35M	6.51M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	28.51%	22.61%	1.54%	16.84%	19.76%	2.34%	13.96%	17.59%	23.7%	24.31%
Return on Invested Capital (ROIC)	71.95%	61.26%	6.67%	31.44%	44.86%	-3.91%	55.18%	76.67%	72.21%	56.38%
Gross Margin	81.51%	81.06%	75.87%	76.31%	77.11%	74.33%	76.65%	77.45%	76.5%	76.94%
Net Margin	23.83%	22.2%	2.17%	20.71%	25%	4.32%	22.3%	24.07%	26.22%	26.26%
Debt / Equity	-	-	-	-	0.05x	0.04x	0.03x	0.03x	0.03x	0.00x
FCF Conversion	1.02x	1.30x	6.84x	1.17x	1.06x	4.25x	1.21x	0.78x	0.78x	1.33x
Revenue Growth	101.84%	2.86%	-28.97%	31.88%	26.54%	-17.65%	31.83%	27.47%	23%	11.71%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
MRI Compatible Patient Vital Signs Monitoring Systems	-	-	-	-	-	-	-	21.72M	25.41M	24.41M
MRI Compatible Patient Vital Signs Monitoring Systems Growth	-	-	-	-	-	-	-	-	17.00%	-3.95%
MRI compatible patient vital signs monitoring systems	-	-	-	-	-	-	13.78M	-	-	-
MRI compatible patient vital signs monitoring systems Growth	-	-	-	-	-	-	-	-	-	-
MRI compatible IV infusion pump system	-	-	-	-	-	-	13.29M	-	-	-
MRI compatible IV infusion pump system Growth	-	-	-	-	-	-	-	-	-	-
Mri Compatible Patient Vital Signs Monitoring Systems	-	99.75K	1.85M	6.66M	9.71M	9.76M	-	-	-	-
Mri Compatible Patient Vital Signs Monitoring Systems Growth	-	-	1753.25%	260.03%	45.88%	0.55%	-	-	-	-
M R I Compatible I V Infusion Pumps	-	25.69M	13.62M	14.54M	18.05M	9.36M	-	-	-	-
M R I Compatible I V Infusion Pumps Growth	-	-	-46.97%	6.72%	24.18%	-48.15%	-	-	-	-
Devices	26.35M	25.79M	15.47M	-	-	-	-	-	-	-
Devices Growth	-	-2.16%	-40.00%	-	-	-	-	-	-	-
Disposable I V Sets And Services	5.24M	6.71M	7.61M	-	-	-	-	-	-	-
Disposable I V Sets And Services Growth	-	28.07%	13.41%	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	-	-	-	-	-	-	-	43.9M	52.53M	60.61M
UNITED STATES Growth	-	-	-	-	-	-	-	-	19.65%	15.39%
International	-	-	-	-	-	-	-	-	13.04M	12.64M
International Growth	-	-	-	-	-	-	-	-	-	-3.08%
United States	28.85M	28.9M	19.5M	-	-	-	33.46M	-	-	-
United States Growth	-	0.17%	-32.53%	-	-	-	-	-	-	-
U	-	-	-	24.51M	30.93M	24.54M	-	-	-	-
U Growth	-	-	-	-	26.20%	-20.67%	-	-	-	-

Frequently Asked Questions

Valuation & Price

IRadimed Corporation (IRMD) has a price-to-earnings (P/E) ratio of 68.4x. This suggests investors expect higher future growth.

Growth & Financials

IRadimed Corporation (IRMD) reported $80.5M in revenue for fiscal year 2024. This represents a 948% increase from $7.7M in 2012.

IRadimed Corporation (IRMD) grew revenue by 11.7% over the past year. This is steady growth.

Yes, IRadimed Corporation (IRMD) is profitable, generating $21.2M in net income for fiscal year 2024 (26.3% net margin).

Dividend & Returns

Yes, IRadimed Corporation (IRMD) pays a dividend with a yield of 1.04%. This makes it attractive for income-focused investors.

IRadimed Corporation (IRMD) has a return on equity (ROE) of 24.3%. This is excellent, indicating efficient use of shareholder capital.

IRadimed Corporation (IRMD) generated $14.3M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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