Masimo Corporation (MASI) Financial Ratios
28 years of historical data (1998–2025) · Healthcare · Medical - Instruments & Supplies
EV/EBITDA
↓
27.74
↓-14% vs avg
5yr avg: 32.29
30Y Low7.2·High52.5
P/FCF
↓
47.25
↓-84% vs avg
5yr avg: 290.48
30Y Low9.1·High118.7
P/B Ratio
↓
13.41
↑+68% vs avg
5yr avg: 7.98
30Y Low4.1·High15.7
ROE
↓
-17.1%
↑-689% vs avg
5yr avg: -2.2%
30Y Low-80%·High319%
Debt/EBITDA
↑
1.59
↓-28% vs avg
5yr avg: 2.20
30Y Low0.0·High4.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
MASI Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Masimo Corporation currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis. On a free-cash-flow basis, the stock trades at 47.2x P/FCF, 84% below the 5-year average of 290.5x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $9.3B | $6.9B | $9.1B | $6.3B | $8.2B | $16.9B | $15.6B | $9.0B | $6.0B | $4.7B | $3.6B |
| Enterprise Value | $9.8B | $7.3B | $9.8B | $7.1B | $9.0B | $16.2B | $15.0B | $8.5B | $5.5B | $4.4B | $3.3B |
| P/E Ratio → | -63.74 | — | — | 77.62 | 56.90 | 73.56 | 64.83 | 45.95 | 31.12 | 38.03 | 11.52 |
| P/S Ratio | 6.12 | 4.52 | 4.35 | 3.10 | 4.01 | 13.63 | 13.62 | 9.62 | 7.01 | 6.00 | 5.03 |
| P/B Ratio | 13.41 | 9.57 | 8.66 | 4.65 | 6.10 | 10.89 | 11.07 | 7.73 | 6.21 | 6.54 | 6.40 |
| P/FCF | 47.25 | 34.91 | 62.72 | 990.79 | — | 73.52 | 118.72 | 60.51 | 27.75 | 417.64 | 9.13 |
| P/OCF | 43.03 | 31.79 | 46.40 | 67.39 | 277.78 | 63.83 | 73.78 | 40.72 | 25.12 | 81.54 | 8.60 |
P/E links to full P/E history page with 30-year chart
MASI EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Masimo Corporation's enterprise value stands at 27.7x EBITDA, 14% below its 5-year average of 32.3x. The Healthcare sector median is 14.1x, placing the stock at a 97% 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 | — | 4.79 | 4.67 | 3.49 | 4.42 | 13.05 | 13.09 | 9.04 | 6.37 | 5.60 | 4.60 |
| EV / EBITDA | 27.74 | 20.80 | — | 30.44 | 25.98 | 51.94 | 52.50 | 34.65 | 23.84 | 21.70 | 7.24 |
| EV / EBIT | 31.18 | 23.91 | — | 51.65 | 41.04 | 58.88 | 56.70 | 36.15 | 25.48 | 23.72 | 19.76 |
| EV / FCF | — | 36.97 | 67.32 | 1116.88 | — | 70.42 | 114.09 | 56.84 | 25.20 | 389.85 | 8.36 |
MASI Profitability
Margins and return-on-capital ratios measuring operating efficiency
Masimo Corporation earns an operating margin of 20.5%. Operating margins have expanded from 6.7% to 20.5% over the past 3 years, signaling improving operational efficiency. A negative ROE of -17.1% indicates the company is currently destroying shareholder equity. ROIC of 16.5% represents solid 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 | 61.9% | 61.9% | 48.0% | 49.0% | 52.0% | 65.2% | 65.0% | 67.1% | 67.0% | 66.1% | 67.1% |
| Operating Margin | 20.5% | 20.5% | -12.7% | 6.7% | 10.3% | 22.3% | 22.4% | 23.6% | 24.2% | 23.3% | 61.2% |
| Net Profit Margin | -9.9% | -9.9% | -14.6% | 4.0% | 7.0% | 18.5% | 21.0% | 20.9% | 22.5% | 16.7% | 42.2% |
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 | -17.1% | -17.1% | -25.2% | 6.0% | 9.9% | 15.5% | 18.7% | 18.4% | 22.9% | 20.5% | 71.9% |
| ROA | -7.0% | -7.0% | -10.8% | 2.6% | 5.6% | 12.8% | 15.5% | 15.4% | 18.8% | 15.3% | 42.3% |
| ROIC | 16.5% | 16.5% | -10.3% | 4.7% | 10.5% | 25.3% | 27.0% | 32.0% | 37.8% | 41.6% | 112.2% |
| ROCE | 18.8% | 18.8% | -11.9% | 5.4% | 10.0% | 17.8% | 18.9% | 19.8% | 23.6% | 27.1% | 81.5% |
MASI Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Masimo Corporation carries a Debt/EBITDA ratio of 1.6x, which is manageable (49% below the sector average of 3.1x). Net debt stands at $407M ($559M total debt minus $152M cash). Interest coverage of 9.2x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.78 | 0.78 | 0.80 | 0.71 | 0.77 | 0.02 | 0.02 | 0.02 | — | — | 0.00 |
| Debt / EBITDA | 1.59 | 1.59 | — | 4.13 | 2.97 | 0.11 | 0.12 | 0.08 | — | — | 0.00 |
| Net Debt / Equity | — | 0.56 | 0.64 | 0.59 | 0.62 | -0.46 | -0.43 | -0.47 | -0.57 | -0.44 | -0.55 |
| Net Debt / EBITDA | 1.16 | 1.16 | — | 3.44 | 2.39 | -2.29 | -2.13 | -2.24 | -2.41 | -1.55 | -0.68 |
| Debt / FCF | — | 2.06 | 4.60 | 126.09 | — | -3.10 | -4.63 | -3.67 | -2.55 | -27.79 | -0.78 |
| Interest Coverage | 9.21 | 9.21 | -6.00 | 2.75 | 8.53 | 915.67 | 781.07 | 714.92 | 303.80 | 275.04 | — |
MASI Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Masimo Corporation's current ratio of 2.49x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 1.47x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 2.18x to 2.49x 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 | 2.49 | 2.49 | 1.98 | 2.18 | 2.08 | 4.63 | 4.71 | 5.78 | 5.35 | 3.69 | 2.30 |
| Quick Ratio | 1.47 | 1.47 | 1.24 | 1.22 | 1.28 | 3.87 | 3.79 | 5.11 | 4.71 | 3.08 | 1.97 |
| Cash Ratio | 0.41 | 0.41 | 0.29 | 0.29 | 0.32 | 2.78 | 2.74 | 3.99 | 3.74 | 2.08 | 1.39 |
| Asset Turnover | — | 0.90 | 0.80 | 0.67 | 0.63 | 0.66 | 0.67 | 0.67 | 0.74 | 0.87 | 0.87 |
| Inventory Turnover | 1.53 | 1.53 | 2.37 | 1.92 | 1.95 | 2.14 | 1.86 | 2.66 | 2.99 | 2.91 | 3.23 |
| Days Sales Outstanding | — | 87.63 | 85.27 | 75.03 | 90.56 | 72.07 | 57.89 | 64.93 | 51.21 | 62.48 | 56.09 |
MASI Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Masimo Corporation returns 3.9% to shareholders annually primarily through share buybacks.
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 | — | — | — | 1.3% | 1.8% | 1.4% | 1.5% | 2.2% | 3.2% | 2.6% | 8.7% |
| FCF Yield | 2.1% | 2.9% | 1.6% | 0.1% | — | 1.4% | 0.8% | 1.7% | 3.6% | 0.2% | 10.9% |
| Buyback Yield | 3.9% | 5.3% | 0.0% | 0.0% | 4.9% | 0.8% | 0.7% | 0.4% | 0.3% | 1.4% | 1.9% |
| Total Shareholder Yield | 3.9% | 5.3% | 0.0% | 0.0% | 4.9% | 0.8% | 0.7% | 0.4% | 0.3% | 1.4% | 1.9% |
| Shares Outstanding | — | $54M | $53M | $54M | $55M | $58M | $58M | $57M | $56M | $56M | $53M |
Peer Comparison
Compare MASI 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 |
|---|---|---|---|---|---|---|---|---|---|
 MASIYou | $9B | -63.7 | 27.7 | 47.2 | 61.9% | 20.5% | -17.1% | 16.5% | 1.6 |
 PODD | $11B | 43.4 | 21.0 | 28.2 | 71.6% | 17.5% | 18.1% | 28.5% | 0.0 |
 HOLX | $17B | 30.5 | 17.4 | 18.4 | 61.0% | 17.4% | 11.1% | 9.4% | 2.6 |
 NVCR | $2B | -13.5 | — | — | 74.5% | -23.5% | -38.9% | -16.4% | — |
 ITGR | $3B | 29.9 | 13.0 | 28.2 | 23.1% | 11.3% | 6.1% | 5.4% | 4.2 |
 ICUI | $3B | 3986.3 | 91.7 | 32.2 | 36.8% | 1.9% | 0.3% | 1.0% | 30.0 |
 NTRA | $30B | -140.6 | — | 427.2 | 60.3% | -13.1% | -19.4% | -33.3% | — |
 INVA | $2B | 6.8 | 5.5 | 8.6 | 72.3% | 38.5% | 29.1% | 16.8% | — |
 NOVT | $5B | 94.5 | 27.5 | 102.3 | 44.4% | 11.9% | 5.2% | 7.4% | 1.9 |
 MMSI | $4B | 28.9 | 12.9 | 17.0 | 48.7% | 12.2% | 8.7% | 7.2% | 2.8 |
 HAYW | $3B | 21.9 | 9.9 | 14.3 | 45.6% | 21.1% | 10.0% | 10.2% | 0.0 |
| Healthcare Median | — | 22.2 | 14.1 | 18.6 | 64.1% | -5.3% | -34.0% | -11.2% | 3.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonMASI — Frequently Asked Questions
Quick answers to the most common questions about buying MASI stock.
What is Masimo Corporation's P/E ratio?
Masimo Corporation's current P/E ratio is -63.7x. The historical average is 40.8x.
What is Masimo Corporation's EV/EBITDA?
Masimo Corporation's current EV/EBITDA is 27.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 23.7x.
What is Masimo Corporation's ROE?
Masimo Corporation's return on equity (ROE) is -17.1%. The historical average is 25.0%.
Is MASI stock overvalued?
Based on historical data, Masimo Corporation is trading at a P/E of -63.7x. Compare with industry peers and growth rates for a complete picture.
What are Masimo Corporation's profit margins?
Masimo Corporation has 61.9% gross margin and 20.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Masimo Corporation have?
Masimo Corporation's Debt/EBITDA ratio is 1.6x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.