Masimo Corporation (MASI) 10-Year Financial Performance & Capital Metrics

MASI • • Industrial / General

HealthcareMedical InstrumentsDiagnostic & Monitoring EquipmentDiagnostic Testing & Monitoring

AboutMasimo Corporation develops, manufactures, and markets noninvasive monitoring technologies and hospital automation solutions worldwide. The company offers masimo signal extraction technology (SET) pulse oximetry with measure-through motion and low perfusion pulse oximetry monitoring to address the primary limitations of conventional pulse oximetry. It also provides Masimo rainbow SET platform that includes rainbow SET Pulse CO-Oximetry products that noninvasively monitor hemoglobin species, including oxygen saturation, pulse rate, perfusion index, pleth variability index, and respiration rate from the pleth; noninvasively monitor hemoglobin concentration, and carboxyhemoglobin and methemoglobin; monitor arterial oxygen saturation and acoustic respiration rate; and calculates oxygen content and oxygen reserve index. It offers SedLine brain function monitoring technology to measure the brain's electrical activity by detecting EEG signals; capnography and gas monitoring products comprising external plug-in-and-measure capnography and gas analyzers, integrated modules, handheld capnograph and capnometer devices, and capnography sampling lines; O3 regional oximetry for tissue oxygen saturation measurement; and hemodynamic monitoring solutions. Its Masimo Hospital Automation platform includes Patient SafetyNet, Patient SafetyNet surveillance, Kite, UniView, Replica, UniView : 60, and MyView. It offers connectivity devices; and nasal high flow ventilation and neuromodulation solutions. It provides its products through direct sales force, distributors, and original equipment manufacturers partners to hospitals, emergency medical service and home care providers, long-term care facilities, physician offices, veterinarians, and consumers; and non-medical/consumer products through e-commerce site, masimopersonalhealth.com. The company was incorporated in 1989 and is headquartered in Irvine, California.Show more

Revenue $2.09B +2.3%
EBITDA -$164M -169.7%
Net Income -$305M -474.1%
EPS (Diluted) -5.72 -478.8%
Gross Margin 47.96% -2.1%
EBITDA Margin -7.82% -168.2%
Operating Margin -12.73% -291.1%
Net Margin -14.56% -465.8%
ROE -25.23% -518.5%
ROIC -10.28% -317.7%
Debt/Equity 0.80 +13.2%
Interest Coverage -6.12 -325.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 17.4%

✗Weaknesses

✗Weak momentum: RS Rating 20 (bottom 20%)

Price & Volume

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Growth Metrics

Revenue CAGR

10Y13.57%

5Y17.43%

3Y19.12%

TTM-1.26%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-824.43%

EPS CAGR

10Y-

5Y-

3Y-

TTM-830.34%

ROCE

10Y Avg21.88%

5Y Avg8.05%

3Y Avg1.17%

Latest-11.89%

Peer Comparison

Diagnostic Testing & Monitoring

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
NNNNAnbio Biotechnology Class A Ordinary Shares	1.52B	34.59	617.68	21.95%	31.03%	29.08%	0.14%
DXRDaxor Corporation	69.03M	13.70	124.55	-93.84%	401.5%	9.78%	0.04%	0.02
BDXBecton, Dickinson and Company	59.36B	208.35	35.74	8.23%	7.68%	6.61%	4.5%	0.76
HOLXHologic, Inc.	16.73B	75.02	22.60	-0%	13.79%	11.5%	6.84%	0.52
GCTKGlucoTrack, Inc.	3.62M	3.98	0.07			-389.1%
QDELQuidelOrtho Corporation	2.4B	35.38	-1.16	-7.17%	-43.43%	-57.92%		0.90
KMTSKESTRA MEDICAL TECHNOLOGIES, LTD.	1.34B	22.98	-4.48	115.05%	-177.99%	-80.55%		0.22
OSUROraSure Technologies, Inc.	196.55M	2.74	-10.54	-54.17%	-47.92%	-16.64%	12%	0.04

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	630.11M	712.9M	790.25M	858.29M	937.84M	1.14B	1.24B	2.04B	2.05B	2.09B
Revenue Growth %	0.07%	0.13%	0.11%	0.09%	0.09%	0.22%	0.08%	0.64%	0.01%	0.02%
Cost of Goods Sold+	220.13M	234.56M	268.22M	283.4M	308.67M	400.7M	430.8M	977M	1.04B	1.09B
COGS % of Revenue	0.35%	0.33%	0.34%	0.33%	0.33%	0.35%	0.35%	0.48%	0.51%	0.52%
Gross Profit+	409.98M	478.34M	522.03M	574.89M	629.17M	743M	808.4M	1.06B	1B	1B
Gross Margin %	0.65%	0.67%	0.66%	0.67%	0.67%	0.65%	0.65%	0.52%	0.49%	0.48%
Gross Profit Growth %	0.05%	0.17%	0.09%	0.1%	0.09%	0.18%	0.09%	0.31%	-0.05%	0%
Operating Expenses+	289.73M	42.39M	338.25M	366.85M	407.96M	487.2M	532.6M	848.8M	867M	1.27B
OpEx % of Revenue	0.46%	0.06%	0.43%	0.43%	0.43%	0.43%	0.43%	0.42%	0.42%	0.61%
Selling, General & Admin	252.72M	254.71M	273.01M	285.42M	314.66M	369M	395.4M	657.4M	664M	743.8M
SG&A % of Revenue	0.4%	0.36%	0.35%	0.33%	0.34%	0.32%	0.32%	0.32%	0.32%	0.36%
Research & Development	56.62M	57.69M	65.23M	81.01M	93.3M	118.7M	137.2M	191.4M	175.2M	222.8M
R&D % of Revenue	0.09%	0.08%	0.08%	0.09%	0.1%	0.1%	0.11%	0.09%	0.09%	0.11%
Other Operating Expenses	-19.61M	-270M	0	425K	0	-500K	0	0	27.8M	304.5M
Operating Income+	120.25M	435.94M	183.79M	208.04M	221.22M	255.8M	275.8M	210M	136.5M	-266.7M
Operating Margin %	0.19%	0.61%	0.23%	0.24%	0.24%	0.22%	0.22%	0.1%	0.07%	-0.13%
Operating Income Growth %	0.16%	2.63%	-0.58%	0.13%	0.06%	0.16%	0.08%	-0.24%	-0.35%	-2.95%
EBITDA+	135.93M	452.76M	203.85M	229.17M	244.7M	285.1M	311.4M	346.1M	234.8M	-163.7M
EBITDA Margin %	0.22%	0.64%	0.26%	0.27%	0.26%	0.25%	0.25%	0.17%	0.11%	-0.08%
EBITDA Growth %	0.17%	2.33%	-0.55%	0.12%	0.07%	0.17%	0.09%	0.11%	-0.32%	-1.7%
D&A (Non-Cash Add-back)	15.68M	16.82M	20.06M	21.13M	23.49M	29.3M	35.6M	136.1M	98.3M	103M
EBIT	100.64M	165.94M	186.48M	214.48M	234.49M	264M	274.7M	219.1M	138.4M	-261.7M
Net Interest Income+	0	0	2.3M	7.47M	13.59M	5.2M	600K	-23.9M	-47.3M	-38.8M
Interest Income	0	0	2.97M	8.18M	13.92M	5.53M	900K	1.8M	3M	4.8M
Interest Expense	0	0	678K	706K	328K	338K	300K	25.7M	50.3M	43.6M
Other Income/Expense	-3.9M	-2.43M	2.01M	5.73M	12.95M	7.9M	-1.4M	-16.6M	-48.4M	-38.6M
Pretax Income+	116.34M	433.52M	185.8M	213.78M	234.17M	263.7M	274.4M	193.4M	88.1M	-305.3M
Pretax Margin %	0.18%	0.61%	0.24%	0.25%	0.25%	0.23%	0.22%	0.1%	0.04%	-0.15%
Income Tax+	34.84M	122.42M	61.01M	20.23M	37.95M	23.4M	44.8M	49.9M	6.6M	-400K
Effective Tax Rate %	0.72%	0.69%	0.71%	0.91%	0.84%	0.91%	0.84%	0.74%	0.93%	1%
Net Income+	83.3M	300.67M	131.62M	193.54M	196.22M	240.3M	229.6M	143.5M	81.5M	-304.9M
Net Margin %	0.13%	0.42%	0.17%	0.23%	0.21%	0.21%	0.19%	0.07%	0.04%	-0.15%
Net Income Growth %	0.15%	2.61%	-0.56%	0.47%	0.01%	0.22%	-0.04%	-0.38%	-0.43%	-4.74%
Net Income (Continuing)	81.5M	311.1M	124.79M	193.54M	196.22M	240.3M	229.6M	143.5M	81.5M	-304.9M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	297K	0	0	0	0	-20K	0	0	0	0
EPS (Diluted)+	1.55	5.85	2.23	3.45	3.44	4.14	3.98	2.60	1.51	-5.72
EPS Growth %	0.19%	2.77%	-0.62%	0.55%	-0%	0.2%	-0.04%	-0.35%	-0.42%	-4.79%
EPS (Basic)	1.62	6.28	2.42	3.45	3.67	4.39	4.16	2.68	1.54	-5.72
Diluted Shares Outstanding	53.71M	53.2M	55.87M	56.04M	57.1M	58.04M	57.68M	55.2M	54.1M	53.3M
Basic Shares Outstanding	51.31M	49.53M	51.52M	56.04M	53.43M	54.7M	55.17M	53.6M	52.8M	53.3M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

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+	299.14M	507.23M	559.7M	789.28M	996.06M	1.1B	1.24B	1.31B	1.23B	1.23B
Cash & Short-Term Investments	132.32M	305.97M	315.3M	552.49M	687.69M	641.45M	745.3M	202.9M	163M	177.6M
Cash Only	132.32M	305.97M	315.3M	552.49M	567.69M	641.45M	745.3M	202.9M	163M	177.6M
Short-Term Investments	0	0	0	0	120M	0	0	0	0	0
Accounts Receivable	88.48M	109.55M	135.26M	120.42M	166.84M	181.38M	244.69M	505.1M	421M	489.3M
Days Sales Outstanding	51.25	56.09	62.48	51.21	64.93	57.89	72.07	90.56	75.03	85.27
Inventory	62.04M	72.54M	92.26M	94.73M	115.87M	215.95M	201.4M	501M	545M	459.2M
Days Inventory Outstanding	102.87	112.88	125.55	122.01	137.02	196.71	170.64	187.17	190.43	153.77
Other Current Assets	3.97M	5.13M	2.86M	8.48M	4.79M	10.91M	6.7M	6M	10.5M	24.4M
Total Non-Current Assets+	302.59M	313.3M	345.74M	365.54M	400.07M	611.39M	648.1M	1.9B	1.81B	1.4B
Property, Plant & Equipment	132.47M	136M	164.1M	165.97M	239.06M	306.17M	303.3M	472.1M	483.5M	456M
Fixed Asset Turnover	4.76x	5.24x	4.82x	5.17x	3.92x	3.74x	4.09x	4.31x	4.24x	4.59x
Goodwill	20.39M	19.78M	20.62M	23.3M	22.35M	103.21M	100.3M	445.4M	407.7M	96.7M
Intangible Assets	27.56M	29.38M	27.12M	27.92M	27.25M	73.92M	72.5M	722.6M	652.3M	558.2M
Long-Term Investments	0	200K	1.23M	1.2M	6.47M	8M	13.8M	13.8M	9.9M	8.6M
Other Non-Current Assets	77.86M	88.97M	112.69M	125.94M	68.95M	80.72M	105.6M	145.6M	149M	136.8M
Total Assets+	601.74M	820.52M	905.44M	1.15B	1.4B	1.71B	1.89B	3.21B	3.04B	2.63B
Asset Turnover	1.05x	0.87x	0.87x	0.74x	0.67x	0.67x	0.66x	0.63x	0.67x	0.80x
Asset Growth %	0.07%	0.36%	0.1%	0.28%	0.21%	0.23%	0.1%	0.7%	-0.05%	-0.14%
Total Current Liabilities+	132.63M	220.37M	151.57M	147.61M	172.22M	233.84M	267.7M	630M	563.8M	617.7M
Accounts Payable	25.86M	34.34M	33.78M	40.39M	54.55M	64.06M	75.6M	276.8M	251.5M	252.8M
Days Payables Outstanding	42.89	53.43	45.97	52.02	64.5	58.35	64.05	103.41	87.88	84.65
Short-Term Debt	74K	71K	0	0	0	0	0	15.1M	34.3M	37.3M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	38.41M	43.18M	41.85M	51.36M	56.39M	75.7M	75.5M	95.4M	69.3M	93.2M
Current Ratio	2.26x	2.30x	3.69x	5.35x	5.78x	4.71x	4.63x	2.08x	2.18x	1.98x
Quick Ratio	1.79x	1.97x	3.08x	4.71x	5.11x	3.79x	3.87x	1.28x	1.22x	1.24x
Cash Conversion Cycle	111.23	115.54	142.06	121.2	137.45	196.25	178.66	174.32	177.58	154.39
Total Non-Current Liabilities+	193.39M	39.92M	51.76M	39.2M	56.03M	71.08M	69.1M	1.24B	1.11B	956.1M
Long-Term Debt	185M	0	0	0	0	0	0	941.6M	871.7M	727.9M
Capital Lease Obligations	71K	0	0	0	15.83M	28.37M	26.3M	53.4M	45.8M	59.5M
Deferred Tax Liabilities	194K	340K	9.88M	2.96M	3.05M	6.25M	5.1M	163.6M	111.7M	100.1M
Other Non-Current Liabilities	7.83M	14.25M	41.64M	35.56M	37.15M	36.46M	32.5M	58.1M	57.3M	41.2M
Total Liabilities	326.02M	260.29M	181.41M	185.75M	228.25M	304.91M	336.8M	1.87B	1.68B	1.57B
Total Debt+	185.15M	71K	0	0	20.49M	34.35M	32.7M	1.03B	970M	846.1M
Net Debt	52.83M	-305.9M	-315.3M	-552.49M	-547.2M	-607.1M	-712.6M	825.9M	807M	668.5M
Debt / Equity	0.67x	0.00x	-	-	0.02x	0.02x	0.02x	0.77x	0.71x	0.80x
Debt / EBITDA	1.36x	0.00x	-	-	0.08x	0.12x	0.11x	2.97x	4.13x	-
Net Debt / EBITDA	0.39x	-0.68x	-1.55x	-2.41x	-2.24x	-2.13x	-2.29x	2.39x	3.44x	-
Interest Coverage	-	-	271.07x	294.68x	674.44x	756.80x	919.33x	8.17x	2.71x	-6.12x
Total Equity+	275.71M	560.24M	724.02M	969.07M	1.17B	1.41B	1.55B	1.34B	1.36B	1.05B
Equity Growth %	-0.1%	1.03%	0.29%	0.34%	0.21%	0.21%	0.1%	-0.14%	0.02%	-0.23%
Book Value per Share	5.13	10.53	12.96	17.29	20.45	24.25	26.87	24.26	25.23	19.74
Total Shareholders' Equity	275.42M	560.24M	724.02M	969.07M	1.17B	1.41B	1.55B	1.34B	1.36B	1.05B
Common Stock	50K	50K	52K	53K	54K	55K	100K	100K	100K	100K
Retained Earnings	288.56M	589.23M	737.96M	931.07M	1.1B	1.34B	1.57B	1.71B	1.8B	1.49B
Treasury Stock	-340.87M	-404.28M	-472.54M	-489.03M	-526.58M	-638.74M	-767.7M	-1.17B	-1.17B	-1.17B
Accumulated OCI	-4.74M	-7.03M	-2.94M	-6.2M	-6.72M	1.41M	-5.5M	11.5M	-45.3M	-108.2M
Minority Interest	297K	0	0	0	0	-20K	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+	114.21M	416.84M	58.11M	239.53M	221.64M	211.1M	264.6M	29.4M	94.1M	196.4M
Operating CF Margin %	0.18%	0.58%	0.07%	0.28%	0.24%	0.18%	0.21%	0.01%	0.05%	0.09%
Operating CF Growth %	0.2%	2.65%	-0.86%	3.12%	-0.07%	-0.05%	0.25%	-0.89%	2.2%	1.09%
Net Income	81.5M	300.67M	131.62M	193.54M	196.22M	240.3M	229.6M	143.5M	81.5M	-304.9M
Depreciation & Amortization	15.68M	16.82M	20.06M	21.13M	23.49M	29.3M	35.6M	136.1M	98.3M	103M
Stock-Based Compensation	10.82M	12.5M	17.19M	27.42M	39.23M	42.2M	44.7M	47.7M	7M	41.5M
Deferred Taxes	81K	5.41M	24.02M	-8.27M	-5.96M	-5M	-15.1M	-39.3M	-35.6M	-38.2M
Other Non-Cash Items	-2.05M	644K	11.25M	-1.51M	1.04M	700K	1.3M	3.2M	13.8M	405.7M
Working Capital Changes	8.17M	80.81M	-146.03M	7.22M	-32.38M	-96.4M	-31.5M	-261.8M	-70.9M	-10.7M
Change in Receivables	-9.9M	-21.24M	-19.77M	10.83M	-35.54M	-9.9M	-76.9M	-151.3M	91.9M	-60.2M
Change in Inventory	7.5M	-10.83M	-22.92M	-1.89M	-21.26M	-94.4M	13.5M	-155.9M	-69.2M	-7.5M
Change in Payables	-4.32M	7.82M	-4.06M	5.21M	9.93M	7.6M	11M	60.5M	-19.6M	14.8M
Cash from Investing+	-54.59M	-25.11M	-47.91M	-26.15M	-197.68M	-82.8M	-37.5M	-1.06B	-81.2M	-51.2M
Capital Expenditures	-54.59M	-24.35M	-46.76M	-22.68M	-68.38M	-72.5M	-25.5M	-52.8M	-44M	-20M
CapEx % of Revenue	0.09%	0.03%	0.06%	0.03%	0.07%	0.06%	0.02%	0.03%	0.02%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-4.2M	-763K	-4.22M	453K	-9.31M	-14.2M	-12M	-5.2M	-44.7M	-31.2M
Cash from Financing+	-59.07M	-216.62M	-4.14M	25.78M	-9.34M	-54.3M	-122.4M	520.4M	-57.1M	-125.6M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	31.63M	-696K	-71K	-490K	-123K	-2.2M	-16.7M	-34.7M	-12.9M	-11.8M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	59.62M	392.49M	11.35M	216.84M	149.15M	131.2M	229.7M	-26.9M	6.4M	145.3M
FCF Margin %	0.09%	0.55%	0.01%	0.25%	0.16%	0.11%	0.19%	-0.01%	0%	0.07%
FCF Growth %	2.5%	5.58%	-0.97%	18.11%	-0.31%	-0.12%	0.75%	-1.12%	1.24%	21.7%
FCF per Share	1.11	7.38	0.20	3.87	2.61	2.26	3.98	-0.49	0.12	2.73
FCF Conversion (FCF/Net Income)	1.37x	1.39x	0.44x	1.24x	1.13x	0.88x	1.15x	0.20x	1.15x	-0.64x
Interest Paid	2.29M	4.05M	551K	193K	211K	300K	300K	23M	51M	39.1M
Taxes Paid	36.19M	31.23M	91.06M	36.59M	42.27M	39.5M	43.9M	87.3M	54.4M	41.9M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	28.55%	71.93%	20.5%	22.86%	18.36%	18.66%	15.52%	9.93%	6.03%	-25.23%
Return on Invested Capital (ROIC)	28.77%	112.19%	41.58%	37.81%	31.99%	27%	25.25%	10.49%	4.72%	-10.28%
Gross Margin	65.07%	67.1%	66.06%	66.98%	67.09%	64.96%	65.24%	52.01%	49%	47.96%
Net Margin	13.22%	42.18%	16.66%	22.55%	20.92%	21.01%	18.53%	7.05%	3.98%	-14.56%
Debt / Equity	0.67x	0.00x	-	-	0.02x	0.02x	0.02x	0.77x	0.71x	0.80x
Interest Coverage	-	-	271.07x	294.68x	674.44x	756.80x	919.33x	8.17x	2.71x	-6.12x
FCF Conversion	1.37x	1.39x	0.44x	1.24x	1.13x	0.88x	1.15x	0.20x	1.15x	-0.64x
Revenue Growth	7.41%	13.14%	10.85%	8.61%	9.27%	21.95%	8.35%	64.28%	0.6%	2.26%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Health Care	-	-	-	-	-	-	-	1.34B	1.28B	1.4B
Health Care Growth	-	-	-	-	-	-	-	-	-4.83%	9.38%

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	421.63M	465.59M	506.81M	566.82M	636.37M	763.07M	822.41M	1.14B	1.06B	1.13B
UNITED STATES Growth	-	10.43%	8.85%	11.84%	12.27%	19.91%	7.78%	38.82%	-7.26%	6.50%
EMEA	-	-	-	-	183.36M	238.68M	251.84M	523.6M	571.9M	595.6M
EMEA Growth	-	-	-	-	-	30.17%	5.51%	107.91%	9.22%	4.14%
Asia Pacific	-	-	-	-	87.96M	103.76M	123.59M	326.8M	351M	303.5M
Asia Pacific Growth	-	-	-	-	-	17.96%	19.12%	164.41%	7.41%	-13.53%
Americas	-	-	-	-	28.71M	38.24M	41.31M	43.7M	66.4M	67.7M
Americas Growth	-	-	-	-	-	33.17%	8.03%	5.79%	51.95%	1.96%
Europe, Middle East, and Africa	105.32M	112.27M	138.07M	160.91M	-	-	-	-	-	-
Europe, Middle East, and Africa Growth	-	6.60%	22.98%	16.54%	-	-	-	-	-	-
Asia and Australia	55.67M	65.95M	72.45M	75.53M	-	-	-	-	-	-
Asia and Australia Growth	-	18.46%	9.85%	4.26%	-	-	-	-	-	-
North And South America	438.34M	20.03M	23.98M	26.61M	-	-	-	-	-	-
North And South America Growth	-	-95.43%	19.75%	10.96%	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Masimo Corporation (MASI) reported $1.72B in revenue for fiscal year 2024. This represents a 291% increase from $439.0M in 2011.

Masimo Corporation (MASI) grew revenue by 2.3% over the past year. Growth has been modest.

Masimo Corporation (MASI) reported a net loss of $569.4M for fiscal year 2024.

Dividend & Returns

Masimo Corporation (MASI) has a return on equity (ROE) of -25.2%. Negative ROE indicates the company is unprofitable.

Masimo Corporation (MASI) generated $189.9M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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Masimo Corporation (MASI) 10-Year Financial Performance & Capital Metrics

MASI • • Industrial / General

HealthcareMedical InstrumentsDiagnostic & Monitoring EquipmentDiagnostic Testing & Monitoring

Revenue $2.09B +2.3%
EBITDA -$164M -169.7%
Net Income -$305M -474.1%
EPS (Diluted) -5.72 -478.8%
Gross Margin 47.96% -2.1%
EBITDA Margin -7.82% -168.2%
Operating Margin -12.73% -291.1%
Net Margin -14.56% -465.8%
ROE -25.23% -518.5%
ROIC -10.28% -317.7%
Debt/Equity 0.80 +13.2%
Interest Coverage -6.12 -325.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 17.4%

✗Weaknesses

✗Weak momentum: RS Rating 20 (bottom 20%)

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y13.57%

5Y17.43%

3Y19.12%

TTM-1.26%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-824.43%

EPS CAGR

10Y-

5Y-

3Y-

TTM-830.34%

ROCE

10Y Avg21.88%

5Y Avg8.05%

3Y Avg1.17%

Latest-11.89%

Peer Comparison

Diagnostic Testing & Monitoring

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
NNNNAnbio Biotechnology Class A Ordinary Shares	1.52B	34.59	617.68	21.95%	31.03%	29.08%	0.14%
DXRDaxor Corporation	69.03M	13.70	124.55	-93.84%	401.5%	9.78%	0.04%	0.02
BDXBecton, Dickinson and Company	59.36B	208.35	35.74	8.23%	7.68%	6.61%	4.5%	0.76
HOLXHologic, Inc.	16.73B	75.02	22.60	-0%	13.79%	11.5%	6.84%	0.52
GCTKGlucoTrack, Inc.	3.62M	3.98	0.07			-389.1%
QDELQuidelOrtho Corporation	2.4B	35.38	-1.16	-7.17%	-43.43%	-57.92%		0.90
KMTSKESTRA MEDICAL TECHNOLOGIES, LTD.	1.34B	22.98	-4.48	115.05%	-177.99%	-80.55%		0.22
OSUROraSure Technologies, Inc.	196.55M	2.74	-10.54	-54.17%	-47.92%	-16.64%	12%	0.04

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	630.11M	712.9M	790.25M	858.29M	937.84M	1.14B	1.24B	2.04B	2.05B	2.09B
Revenue Growth %	0.07%	0.13%	0.11%	0.09%	0.09%	0.22%	0.08%	0.64%	0.01%	0.02%
Cost of Goods Sold+	220.13M	234.56M	268.22M	283.4M	308.67M	400.7M	430.8M	977M	1.04B	1.09B
COGS % of Revenue	0.35%	0.33%	0.34%	0.33%	0.33%	0.35%	0.35%	0.48%	0.51%	0.52%
Gross Profit+	409.98M	478.34M	522.03M	574.89M	629.17M	743M	808.4M	1.06B	1B	1B
Gross Margin %	0.65%	0.67%	0.66%	0.67%	0.67%	0.65%	0.65%	0.52%	0.49%	0.48%
Gross Profit Growth %	0.05%	0.17%	0.09%	0.1%	0.09%	0.18%	0.09%	0.31%	-0.05%	0%
Operating Expenses+	289.73M	42.39M	338.25M	366.85M	407.96M	487.2M	532.6M	848.8M	867M	1.27B
OpEx % of Revenue	0.46%	0.06%	0.43%	0.43%	0.43%	0.43%	0.43%	0.42%	0.42%	0.61%
Selling, General & Admin	252.72M	254.71M	273.01M	285.42M	314.66M	369M	395.4M	657.4M	664M	743.8M
SG&A % of Revenue	0.4%	0.36%	0.35%	0.33%	0.34%	0.32%	0.32%	0.32%	0.32%	0.36%
Research & Development	56.62M	57.69M	65.23M	81.01M	93.3M	118.7M	137.2M	191.4M	175.2M	222.8M
R&D % of Revenue	0.09%	0.08%	0.08%	0.09%	0.1%	0.1%	0.11%	0.09%	0.09%	0.11%
Other Operating Expenses	-19.61M	-270M	0	425K	0	-500K	0	0	27.8M	304.5M
Operating Income+	120.25M	435.94M	183.79M	208.04M	221.22M	255.8M	275.8M	210M	136.5M	-266.7M
Operating Margin %	0.19%	0.61%	0.23%	0.24%	0.24%	0.22%	0.22%	0.1%	0.07%	-0.13%
Operating Income Growth %	0.16%	2.63%	-0.58%	0.13%	0.06%	0.16%	0.08%	-0.24%	-0.35%	-2.95%
EBITDA+	135.93M	452.76M	203.85M	229.17M	244.7M	285.1M	311.4M	346.1M	234.8M	-163.7M
EBITDA Margin %	0.22%	0.64%	0.26%	0.27%	0.26%	0.25%	0.25%	0.17%	0.11%	-0.08%
EBITDA Growth %	0.17%	2.33%	-0.55%	0.12%	0.07%	0.17%	0.09%	0.11%	-0.32%	-1.7%
D&A (Non-Cash Add-back)	15.68M	16.82M	20.06M	21.13M	23.49M	29.3M	35.6M	136.1M	98.3M	103M
EBIT	100.64M	165.94M	186.48M	214.48M	234.49M	264M	274.7M	219.1M	138.4M	-261.7M
Net Interest Income+	0	0	2.3M	7.47M	13.59M	5.2M	600K	-23.9M	-47.3M	-38.8M
Interest Income	0	0	2.97M	8.18M	13.92M	5.53M	900K	1.8M	3M	4.8M
Interest Expense	0	0	678K	706K	328K	338K	300K	25.7M	50.3M	43.6M
Other Income/Expense	-3.9M	-2.43M	2.01M	5.73M	12.95M	7.9M	-1.4M	-16.6M	-48.4M	-38.6M
Pretax Income+	116.34M	433.52M	185.8M	213.78M	234.17M	263.7M	274.4M	193.4M	88.1M	-305.3M
Pretax Margin %	0.18%	0.61%	0.24%	0.25%	0.25%	0.23%	0.22%	0.1%	0.04%	-0.15%
Income Tax+	34.84M	122.42M	61.01M	20.23M	37.95M	23.4M	44.8M	49.9M	6.6M	-400K
Effective Tax Rate %	0.72%	0.69%	0.71%	0.91%	0.84%	0.91%	0.84%	0.74%	0.93%	1%
Net Income+	83.3M	300.67M	131.62M	193.54M	196.22M	240.3M	229.6M	143.5M	81.5M	-304.9M
Net Margin %	0.13%	0.42%	0.17%	0.23%	0.21%	0.21%	0.19%	0.07%	0.04%	-0.15%
Net Income Growth %	0.15%	2.61%	-0.56%	0.47%	0.01%	0.22%	-0.04%	-0.38%	-0.43%	-4.74%
Net Income (Continuing)	81.5M	311.1M	124.79M	193.54M	196.22M	240.3M	229.6M	143.5M	81.5M	-304.9M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	297K	0	0	0	0	-20K	0	0	0	0
EPS (Diluted)+	1.55	5.85	2.23	3.45	3.44	4.14	3.98	2.60	1.51	-5.72
EPS Growth %	0.19%	2.77%	-0.62%	0.55%	-0%	0.2%	-0.04%	-0.35%	-0.42%	-4.79%
EPS (Basic)	1.62	6.28	2.42	3.45	3.67	4.39	4.16	2.68	1.54	-5.72
Diluted Shares Outstanding	53.71M	53.2M	55.87M	56.04M	57.1M	58.04M	57.68M	55.2M	54.1M	53.3M
Basic Shares Outstanding	51.31M	49.53M	51.52M	56.04M	53.43M	54.7M	55.17M	53.6M	52.8M	53.3M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

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+	299.14M	507.23M	559.7M	789.28M	996.06M	1.1B	1.24B	1.31B	1.23B	1.23B
Cash & Short-Term Investments	132.32M	305.97M	315.3M	552.49M	687.69M	641.45M	745.3M	202.9M	163M	177.6M
Cash Only	132.32M	305.97M	315.3M	552.49M	567.69M	641.45M	745.3M	202.9M	163M	177.6M
Short-Term Investments	0	0	0	0	120M	0	0	0	0	0
Accounts Receivable	88.48M	109.55M	135.26M	120.42M	166.84M	181.38M	244.69M	505.1M	421M	489.3M
Days Sales Outstanding	51.25	56.09	62.48	51.21	64.93	57.89	72.07	90.56	75.03	85.27
Inventory	62.04M	72.54M	92.26M	94.73M	115.87M	215.95M	201.4M	501M	545M	459.2M
Days Inventory Outstanding	102.87	112.88	125.55	122.01	137.02	196.71	170.64	187.17	190.43	153.77
Other Current Assets	3.97M	5.13M	2.86M	8.48M	4.79M	10.91M	6.7M	6M	10.5M	24.4M
Total Non-Current Assets+	302.59M	313.3M	345.74M	365.54M	400.07M	611.39M	648.1M	1.9B	1.81B	1.4B
Property, Plant & Equipment	132.47M	136M	164.1M	165.97M	239.06M	306.17M	303.3M	472.1M	483.5M	456M
Fixed Asset Turnover	4.76x	5.24x	4.82x	5.17x	3.92x	3.74x	4.09x	4.31x	4.24x	4.59x
Goodwill	20.39M	19.78M	20.62M	23.3M	22.35M	103.21M	100.3M	445.4M	407.7M	96.7M
Intangible Assets	27.56M	29.38M	27.12M	27.92M	27.25M	73.92M	72.5M	722.6M	652.3M	558.2M
Long-Term Investments	0	200K	1.23M	1.2M	6.47M	8M	13.8M	13.8M	9.9M	8.6M
Other Non-Current Assets	77.86M	88.97M	112.69M	125.94M	68.95M	80.72M	105.6M	145.6M	149M	136.8M
Total Assets+	601.74M	820.52M	905.44M	1.15B	1.4B	1.71B	1.89B	3.21B	3.04B	2.63B
Asset Turnover	1.05x	0.87x	0.87x	0.74x	0.67x	0.67x	0.66x	0.63x	0.67x	0.80x
Asset Growth %	0.07%	0.36%	0.1%	0.28%	0.21%	0.23%	0.1%	0.7%	-0.05%	-0.14%
Total Current Liabilities+	132.63M	220.37M	151.57M	147.61M	172.22M	233.84M	267.7M	630M	563.8M	617.7M
Accounts Payable	25.86M	34.34M	33.78M	40.39M	54.55M	64.06M	75.6M	276.8M	251.5M	252.8M
Days Payables Outstanding	42.89	53.43	45.97	52.02	64.5	58.35	64.05	103.41	87.88	84.65
Short-Term Debt	74K	71K	0	0	0	0	0	15.1M	34.3M	37.3M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	38.41M	43.18M	41.85M	51.36M	56.39M	75.7M	75.5M	95.4M	69.3M	93.2M
Current Ratio	2.26x	2.30x	3.69x	5.35x	5.78x	4.71x	4.63x	2.08x	2.18x	1.98x
Quick Ratio	1.79x	1.97x	3.08x	4.71x	5.11x	3.79x	3.87x	1.28x	1.22x	1.24x
Cash Conversion Cycle	111.23	115.54	142.06	121.2	137.45	196.25	178.66	174.32	177.58	154.39
Total Non-Current Liabilities+	193.39M	39.92M	51.76M	39.2M	56.03M	71.08M	69.1M	1.24B	1.11B	956.1M
Long-Term Debt	185M	0	0	0	0	0	0	941.6M	871.7M	727.9M
Capital Lease Obligations	71K	0	0	0	15.83M	28.37M	26.3M	53.4M	45.8M	59.5M
Deferred Tax Liabilities	194K	340K	9.88M	2.96M	3.05M	6.25M	5.1M	163.6M	111.7M	100.1M
Other Non-Current Liabilities	7.83M	14.25M	41.64M	35.56M	37.15M	36.46M	32.5M	58.1M	57.3M	41.2M
Total Liabilities	326.02M	260.29M	181.41M	185.75M	228.25M	304.91M	336.8M	1.87B	1.68B	1.57B
Total Debt+	185.15M	71K	0	0	20.49M	34.35M	32.7M	1.03B	970M	846.1M
Net Debt	52.83M	-305.9M	-315.3M	-552.49M	-547.2M	-607.1M	-712.6M	825.9M	807M	668.5M
Debt / Equity	0.67x	0.00x	-	-	0.02x	0.02x	0.02x	0.77x	0.71x	0.80x
Debt / EBITDA	1.36x	0.00x	-	-	0.08x	0.12x	0.11x	2.97x	4.13x	-
Net Debt / EBITDA	0.39x	-0.68x	-1.55x	-2.41x	-2.24x	-2.13x	-2.29x	2.39x	3.44x	-
Interest Coverage	-	-	271.07x	294.68x	674.44x	756.80x	919.33x	8.17x	2.71x	-6.12x
Total Equity+	275.71M	560.24M	724.02M	969.07M	1.17B	1.41B	1.55B	1.34B	1.36B	1.05B
Equity Growth %	-0.1%	1.03%	0.29%	0.34%	0.21%	0.21%	0.1%	-0.14%	0.02%	-0.23%
Book Value per Share	5.13	10.53	12.96	17.29	20.45	24.25	26.87	24.26	25.23	19.74
Total Shareholders' Equity	275.42M	560.24M	724.02M	969.07M	1.17B	1.41B	1.55B	1.34B	1.36B	1.05B
Common Stock	50K	50K	52K	53K	54K	55K	100K	100K	100K	100K
Retained Earnings	288.56M	589.23M	737.96M	931.07M	1.1B	1.34B	1.57B	1.71B	1.8B	1.49B
Treasury Stock	-340.87M	-404.28M	-472.54M	-489.03M	-526.58M	-638.74M	-767.7M	-1.17B	-1.17B	-1.17B
Accumulated OCI	-4.74M	-7.03M	-2.94M	-6.2M	-6.72M	1.41M	-5.5M	11.5M	-45.3M	-108.2M
Minority Interest	297K	0	0	0	0	-20K	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+	114.21M	416.84M	58.11M	239.53M	221.64M	211.1M	264.6M	29.4M	94.1M	196.4M
Operating CF Margin %	0.18%	0.58%	0.07%	0.28%	0.24%	0.18%	0.21%	0.01%	0.05%	0.09%
Operating CF Growth %	0.2%	2.65%	-0.86%	3.12%	-0.07%	-0.05%	0.25%	-0.89%	2.2%	1.09%
Net Income	81.5M	300.67M	131.62M	193.54M	196.22M	240.3M	229.6M	143.5M	81.5M	-304.9M
Depreciation & Amortization	15.68M	16.82M	20.06M	21.13M	23.49M	29.3M	35.6M	136.1M	98.3M	103M
Stock-Based Compensation	10.82M	12.5M	17.19M	27.42M	39.23M	42.2M	44.7M	47.7M	7M	41.5M
Deferred Taxes	81K	5.41M	24.02M	-8.27M	-5.96M	-5M	-15.1M	-39.3M	-35.6M	-38.2M
Other Non-Cash Items	-2.05M	644K	11.25M	-1.51M	1.04M	700K	1.3M	3.2M	13.8M	405.7M
Working Capital Changes	8.17M	80.81M	-146.03M	7.22M	-32.38M	-96.4M	-31.5M	-261.8M	-70.9M	-10.7M
Change in Receivables	-9.9M	-21.24M	-19.77M	10.83M	-35.54M	-9.9M	-76.9M	-151.3M	91.9M	-60.2M
Change in Inventory	7.5M	-10.83M	-22.92M	-1.89M	-21.26M	-94.4M	13.5M	-155.9M	-69.2M	-7.5M
Change in Payables	-4.32M	7.82M	-4.06M	5.21M	9.93M	7.6M	11M	60.5M	-19.6M	14.8M
Cash from Investing+	-54.59M	-25.11M	-47.91M	-26.15M	-197.68M	-82.8M	-37.5M	-1.06B	-81.2M	-51.2M
Capital Expenditures	-54.59M	-24.35M	-46.76M	-22.68M	-68.38M	-72.5M	-25.5M	-52.8M	-44M	-20M
CapEx % of Revenue	0.09%	0.03%	0.06%	0.03%	0.07%	0.06%	0.02%	0.03%	0.02%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-4.2M	-763K	-4.22M	453K	-9.31M	-14.2M	-12M	-5.2M	-44.7M	-31.2M
Cash from Financing+	-59.07M	-216.62M	-4.14M	25.78M	-9.34M	-54.3M	-122.4M	520.4M	-57.1M	-125.6M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	31.63M	-696K	-71K	-490K	-123K	-2.2M	-16.7M	-34.7M	-12.9M	-11.8M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	59.62M	392.49M	11.35M	216.84M	149.15M	131.2M	229.7M	-26.9M	6.4M	145.3M
FCF Margin %	0.09%	0.55%	0.01%	0.25%	0.16%	0.11%	0.19%	-0.01%	0%	0.07%
FCF Growth %	2.5%	5.58%	-0.97%	18.11%	-0.31%	-0.12%	0.75%	-1.12%	1.24%	21.7%
FCF per Share	1.11	7.38	0.20	3.87	2.61	2.26	3.98	-0.49	0.12	2.73
FCF Conversion (FCF/Net Income)	1.37x	1.39x	0.44x	1.24x	1.13x	0.88x	1.15x	0.20x	1.15x	-0.64x
Interest Paid	2.29M	4.05M	551K	193K	211K	300K	300K	23M	51M	39.1M
Taxes Paid	36.19M	31.23M	91.06M	36.59M	42.27M	39.5M	43.9M	87.3M	54.4M	41.9M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	28.55%	71.93%	20.5%	22.86%	18.36%	18.66%	15.52%	9.93%	6.03%	-25.23%
Return on Invested Capital (ROIC)	28.77%	112.19%	41.58%	37.81%	31.99%	27%	25.25%	10.49%	4.72%	-10.28%
Gross Margin	65.07%	67.1%	66.06%	66.98%	67.09%	64.96%	65.24%	52.01%	49%	47.96%
Net Margin	13.22%	42.18%	16.66%	22.55%	20.92%	21.01%	18.53%	7.05%	3.98%	-14.56%
Debt / Equity	0.67x	0.00x	-	-	0.02x	0.02x	0.02x	0.77x	0.71x	0.80x
Interest Coverage	-	-	271.07x	294.68x	674.44x	756.80x	919.33x	8.17x	2.71x	-6.12x
FCF Conversion	1.37x	1.39x	0.44x	1.24x	1.13x	0.88x	1.15x	0.20x	1.15x	-0.64x
Revenue Growth	7.41%	13.14%	10.85%	8.61%	9.27%	21.95%	8.35%	64.28%	0.6%	2.26%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Health Care	-	-	-	-	-	-	-	1.34B	1.28B	1.4B
Health Care Growth	-	-	-	-	-	-	-	-	-4.83%	9.38%

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	421.63M	465.59M	506.81M	566.82M	636.37M	763.07M	822.41M	1.14B	1.06B	1.13B
UNITED STATES Growth	-	10.43%	8.85%	11.84%	12.27%	19.91%	7.78%	38.82%	-7.26%	6.50%
EMEA	-	-	-	-	183.36M	238.68M	251.84M	523.6M	571.9M	595.6M
EMEA Growth	-	-	-	-	-	30.17%	5.51%	107.91%	9.22%	4.14%
Asia Pacific	-	-	-	-	87.96M	103.76M	123.59M	326.8M	351M	303.5M
Asia Pacific Growth	-	-	-	-	-	17.96%	19.12%	164.41%	7.41%	-13.53%
Americas	-	-	-	-	28.71M	38.24M	41.31M	43.7M	66.4M	67.7M
Americas Growth	-	-	-	-	-	33.17%	8.03%	5.79%	51.95%	1.96%
Europe, Middle East, and Africa	105.32M	112.27M	138.07M	160.91M	-	-	-	-	-	-
Europe, Middle East, and Africa Growth	-	6.60%	22.98%	16.54%	-	-	-	-	-	-
Asia and Australia	55.67M	65.95M	72.45M	75.53M	-	-	-	-	-	-
Asia and Australia Growth	-	18.46%	9.85%	4.26%	-	-	-	-	-	-
North And South America	438.34M	20.03M	23.98M	26.61M	-	-	-	-	-	-
North And South America Growth	-	-95.43%	19.75%	10.96%	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Masimo Corporation (MASI) reported $1.72B in revenue for fiscal year 2024. This represents a 291% increase from $439.0M in 2011.

Masimo Corporation (MASI) grew revenue by 2.3% over the past year. Growth has been modest.

Masimo Corporation (MASI) reported a net loss of $569.4M for fiscal year 2024.

Dividend & Returns

Masimo Corporation (MASI) has a return on equity (ROE) of -25.2%. Negative ROE indicates the company is unprofitable.

Masimo Corporation (MASI) generated $189.9M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.