Revenue growth remains highly sensitive to hospital capital expenditure cycles, evidenced by a swing from a 15.3% contraction in 2024Q1 to an 18.6% expansion by 2024Q4.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 |
|---|
| Sales/Revenue | 1.23B | 1.18B | 1.11B | 1.15B | 1.3B | 1.13B | 892.21M | 897.03M | 787.31M | 716.16M | 692.62M | 484.56M | 440.9M | 380.58M | 314.03M | 245.53M | 222.41M | 213.46M | 251.87M | 213.08M | 154.71M | 121.52M | 123.94M | 102.13M | 87.69M | 86.9M | 67.36M |
| Revenue Growth % | 7.86% | 6.53% | -3.04% | -11.48% | 14.48% | 26.88% | -0.54% | 13.94% | 9.93% | 3.4% | 42.94% | 9.9% | 15.85% | 21.2% | 27.89% | 10.4% | 4.19% | -15.25% | 18.2% | 37.73% | 27.31% | -1.95% | 21.36% | 16.46% | 0.91% | 29% | - |
| Cost of Goods Sold | 692.19M | 681.4M | 641.24M | 647.18M | 706.96M | 577.37M | 478.92M | 460.12M | 414.98M | 394.08M | 378.82M | 236.63M | 207.04M | 177.19M | 143.47M | 109.75M | 104.49M | 108.24M | 123.23M | 99.77M | 69.19M | 54.51M | 52.03M | 42.46M | 36.42M | 32.77M | 26.58M |
| COGS % of Revenue | - | 57.51% | 57.65% | 56.42% | 54.55% | 51% | 53.68% | 51.29% | 52.71% | 55.03% | 54.69% | 48.83% | 46.96% | 46.56% | 45.69% | 44.7% | 46.98% | 50.71% | 48.93% | 46.82% | 44.72% | 44.86% | 41.98% | 41.58% | 41.53% | 37.71% | 39.45% |
| Gross Profit | 532.87M | 503.44M | 471M | 499.93M | 588.99M | 554.65M | 413.29M | 436.91M | 372.33M | 322.09M | 313.8M | 247.93M | 233.86M | 203.4M | 170.55M | 135.78M | 117.92M | 105.22M | 128.63M | 113.31M | 85.52M | 67.01M | 71.91M | 59.67M | 51.27M | 54.13M | 40.79M |
| Gross Margin % | 43.5% | 42.49% | 42.35% | 43.58% | 45.45% | 49% | 46.32% | 48.71% | 47.29% | 44.97% | 45.31% | 51.17% | 53.04% | 53.44% | 54.31% | 55.3% | 53.02% | 49.29% | 51.07% | 53.18% | 55.28% | 55.14% | 58.02% | 58.42% | 58.47% | 62.29% | 60.55% |
| Gross Profit Growth % | - | 6.89% | -5.79% | -15.12% | 6.19% | 34.2% | -5.41% | 17.35% | 15.6% | 2.64% | 26.57% | 6.02% | 14.98% | 19.26% | 25.61% | 15.15% | 12.07% | -18.2% | 13.53% | 32.49% | 27.62% | -6.81% | 20.51% | 16.37% | -5.29% | 32.72% | - |
| Operating Expenses | 499.24M | 498.28M | 470.67M | 519.26M | 591.31M | 465.15M | 377.77M | 358.56M | 327.94M | 316.33M | 307.32M | 202.74M | 184.28M | 168.1M | 143.47M | 119.56M | 107.23M | 103.24M | 111.29M | 95.08M | 76.27M | 69.31M | 61.19M | 51.73M | 54.74M | 54.71M | 57.41M |
| OpEx % of Revenue | - | 42.05% | 42.32% | 45.27% | 45.63% | 41.09% | 42.34% | 39.97% | 41.65% | 44.17% | 44.37% | 41.84% | 41.8% | 44.17% | 45.69% | 48.69% | 48.22% | 48.36% | 44.19% | 44.62% | 49.3% | 57.04% | 49.37% | 50.65% | 62.42% | 62.96% | 85.23% |
| Selling, General & Admin | 409.57M | 409.61M | 380.25M | 425.97M | 486.34M | 389.43M | 307.61M | 289.92M | 263.1M | 250.31M | 249.52M | 167.58M | 156.47M | 139M | 119.75M | 97.52M | 86.23M | 85.67M | 93.1M | 80.03M | 65.04M | 59.7M | 52.08M | 42.78M | 44.77M | 43.68M | 46.14M |
| SG&A % of Revenue | - | 34.57% | 34.19% | 37.13% | 37.53% | 34.4% | 34.48% | 32.32% | 33.42% | 34.95% | 36.03% | 34.58% | 35.49% | 36.52% | 38.13% | 39.72% | 38.77% | 40.13% | 36.96% | 37.56% | 42.04% | 49.13% | 42.02% | 41.89% | 51.05% | 50.27% | 68.49% |
| Research & Development | 89.67M | 88.67M | 90.41M | 93.29M | 104.97M | 75.72M | 70.16M | 68.64M | 64.84M | 66.02M | 57.8M | 35.16M | 27.8M | 29.11M | 23.73M | 22.04M | 21.01M | 17.57M | 18.2M | 15.05M | 11.22M | 9.61M | 9.11M | 8.95M | 9.97M | 11.03M | 11.27M |
| R&D % of Revenue | - | 7.48% | 8.13% | 8.13% | 8.1% | 6.69% | 7.86% | 7.65% | 8.24% | 9.22% | 8.34% | 7.26% | 6.31% | 7.65% | 7.56% | 8.98% | 9.45% | 8.23% | 7.22% | 7.06% | 7.25% | 7.91% | 7.35% | 8.76% | 11.37% | 12.69% | 16.73% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -178K | -99K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 33.63M | 5.16M | 337K | -19.33M | -2.32M | 89.51M | 35.53M | 78.35M | 44.39M | 5.75M | 6.48M | 48.63M | 49.58M | 35.3M | 27.08M | 16.22M | 9.53M | 669K | 17.34M | 18.22M | 9.26M | -2.71M | 10.55M | 6.98M | -5.9M | -430K | -19.53M |
| Operating Margin % | 2.75% | 0.44% | 0.03% | -1.69% | -0.18% | 7.91% | 3.98% | 8.73% | 5.64% | 0.8% | 0.94% | 10.04% | 11.25% | 9.27% | 8.62% | 6.61% | 4.28% | 0.31% | 6.88% | 8.55% | 5.98% | -2.23% | 8.51% | 6.84% | -6.73% | -0.49% | -29% |
| Operating Income Growth % | - | 1431.16% | 101.74% | -732.07% | -102.6% | 151.95% | -54.66% | 76.5% | 671.5% | -11.22% | -86.67% | -1.92% | 40.47% | 30.34% | 66.95% | 70.29% | 1323.92% | -96.14% | -4.85% | 96.89% | 442.18% | -125.65% | 51.02% | 218.31% | -1272.79% | 97.8% | - |
| EBITDA | 111M | 83.95M | 90.09M | 76.23M | 96.85M | 174.44M | 107.12M | 142.47M | 95.74M | 57.27M | 64.84M | 74.27M | 69.86M | 53.66M | 40.41M | 24.2M | 18.14M | 10.1M | 26.29M | 22.83M | 12.97M | 1.49M | 14.63M | 10.49M | -2.88M | 3.29M | -15.88M |
| EBITDA Margin % | 9.06% | 7.09% | 8.1% | 6.65% | 7.47% | 15.41% | 12.01% | 15.88% | 12.16% | 8% | 9.36% | 15.33% | 15.84% | 14.1% | 12.87% | 9.86% | 8.16% | 4.73% | 10.44% | 10.71% | 8.39% | 1.23% | 11.81% | 10.27% | -3.29% | 3.79% | -23.57% |
| EBITDA Growth % | 9.94% | -6.81% | 18.19% | -21.29% | -44.48% | 62.84% | -24.81% | 48.81% | 67.19% | -11.69% | -12.69% | 6.32% | 30.17% | 32.81% | 66.94% | 33.4% | 79.71% | -61.6% | 15.19% | 75.95% | 768.34% | -89.79% | 39.51% | 464.04% | -187.49% | 120.74% | - |
| D&A (Non-Cash Add-back) | 77.37M | 78.8M | 89.75M | 95.56M | 99.17M | 84.93M | 71.59M | 64.12M | 51.35M | 51.51M | 58.36M | 25.64M | 20.27M | 18.36M | 13.32M | 7.98M | 8.62M | 9.43M | 8.95M | 4.6M | 3.72M | 4.2M | 4.08M | 3.5M | 3.02M | 3.72M | 3.65M |
| EBIT | 39.45M | 17.49M | 337K | -15.58M | -2.32M | 89.51M | 35.53M | 78.35M | 44.39M | 11.14M | 21.41M | 45.19M | 49.58M | 35.3M | 27.13M | 16.15M | 9.96M | 1.21M | 20.74M | 18.22M | 9.26M | -2.3M | 10.72M | 7.94M | -3.46M | -580K | -16.63M |
| Net Interest Income | 5.26M | -6.17M | 20.38M | 14.76M | -130K | -22.39M | -2.1M | -5.8M | 0 | 0 | 0 | -2.39M | -1.08M | -270K | -51K | 204K | 420K | 604K | 3.4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 7.3M | 0 | 24.9M | 14.76M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 30K | 77K | 266K | 424K | 619K | 3.42M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 2.14M | 6.17M | 4.53M | 0 | 130K | 22.39M | 2.1M | 5.8M | 0 | 0 | 0 | 2.39M | 1.08M | 122K | 29K | 62K | 4K | 15K | 15K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 4.13M | 6.17M | 25.26M | -779K | -130K | -23.5M | -6.18M | -4.42M | -8.78M | -6.63M | -8.43M | -2.39M | -1.08M | -270K | -51K | -133K | 431K | 523K | 3.38M | 6.05M | 1.91M | 651K | 379K | 565K | 875K | -577K | -1.16M |
| Pretax Income | 37.76M | 11.32M | 25.59M | -20.11M | -2.45M | 66.01M | 29.35M | 73.93M | 35.62M | -879K | -1.95M | 46.24M | 48.5M | 35.03M | 27.03M | 16.09M | 9.96M | 1.19M | 20.72M | 24.28M | 11.17M | -2.05M | 10.93M | 7.55M | -5.03M | -1.01M | -20.69M |
| Pretax Margin % | 3.08% | 0.96% | 2.3% | -1.75% | -0.19% | 5.83% | 3.29% | 8.24% | 4.52% | -0.12% | -0.28% | 9.54% | 11% | 9.2% | 8.61% | 6.55% | 4.48% | 0.56% | 8.23% | 11.39% | 7.22% | -1.69% | 8.82% | 7.39% | -5.73% | -1.16% | -30.71% |
| Income Tax | 17.33M | 9.27M | 13.06M | 263K | -8.1M | -11.84M | -2.85M | 12.6M | -2.11M | -21.48M | -2.55M | 15.48M | 17.99M | 11.05M | 10.87M | 5.7M | 5.07M | 748K | 8M | -19.02M | 804K | 20K | 324K | 242K | 10K | 160K | 100K |
| Effective Tax Rate % | 45.89% | 81.88% | 51.04% | -1.31% | 330.25% | -17.94% | -9.69% | 17.04% | -5.93% | 2444.14% | 130.95% | 33.48% | 37.08% | 31.55% | 40.22% | 35.43% | 50.87% | 62.75% | 38.6% | -78.34% | 7.2% | -0.97% | 2.97% | 3.21% | -0.2% | -15.89% | -0.48% |
| Net Income | 20.43M | 2.05M | 12.53M | -20.37M | 5.65M | 77.85M | 32.19M | 61.34M | 37.73M | 20.61M | 603K | 30.76M | 30.52M | 23.98M | 16.16M | 10.39M | 4.89M | 444K | 12.72M | 43.3M | 10.37M | -2.07M | 10.6M | 7.31M | -5.04M | -1.17M | -20.79M |
| Net Margin % | 1.67% | 0.17% | 1.13% | -1.78% | 0.44% | 6.88% | 3.61% | 6.84% | 4.79% | 2.88% | 0.09% | 6.35% | 6.92% | 6.3% | 5.15% | 4.23% | 2.2% | 0.21% | 5.05% | 20.32% | 6.7% | -1.71% | 8.55% | 7.15% | -5.75% | -1.34% | -30.86% |
| Net Income Growth % | -3.55% | -83.62% | 161.51% | -460.68% | -92.74% | 141.81% | -47.51% | 62.58% | 83.11% | 3317.08% | -98.04% | 0.79% | 27.27% | 48.38% | 55.56% | 112.37% | 1001.8% | -96.51% | -70.61% | 317.7% | 599.76% | -119.56% | 45.09% | 245.04% | -331.71% | 94.39% | - |
| Net Income (Continuing) | 20.43M | 2.05M | 12.53M | -20.37M | 5.65M | 77.85M | 32.19M | 61.34M | 37.73M | 30.52M | 603K | 30.76M | 30.52M | 23.98M | 16.18M | 10.39M | 4.89M | 444K | 12.72M | 43.3M | 10.37M | -2.07M | 10.6M | 7.31M | -5.04M | -1.17M | -20.79M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.44 | 0.04 | 0.27 | -0.45 | 0.12 | 1.62 | 0.74 | 1.43 | 0.93 | 0.79 | 0.26 | 0.84 | 0.83 | 0.67 | 0.47 | 0.30 | 0.15 | 0.01 | 0.38 | 1.28 | 0.36 | -0.08 | 0.38 | 0.29 | -0.23 | -0.11 | -12.20 |
| EPS Growth % | -3.51% | -83.59% | 160% | -475% | -92.59% | 118.92% | -48.25% | 53.76% | 17.72% | 203.85% | -69.05% | 1.2% | 23.88% | 42.55% | 56.67% | 100% | 1400% | -97.37% | -70.31% | 255.56% | 549.44% | -121.08% | 31.03% | 226.09% | -109.09% | 99.1% | - |
| EPS (Basic) | - | 0.04 | 0.27 | -0.45 | 0.13 | 1.79 | 0.76 | 1.48 | 0.96 | 0.81 | 0.27 | 0.86 | 0.86 | 0.69 | 0.49 | 0.31 | 0.15 | 0.01 | 0.40 | 1.35 | 0.38 | -0.08 | 0.43 | 0.32 | -0.23 | -0.11 | -12.20 |
| Diluted Shares Outstanding | 45.94M | 46.36M | 46.26M | 45.21M | 45.89M | 47.94M | 43.74M | 42.94M | 40.56M | 38.71M | 36.86M | 36.72M | 36.62M | 35.78M | 34.21M | 34.1M | 33.51M | 32.06M | 33.11M | 33.82M | 28.9M | 25.91M | 27.72M | 25.32M | 21.73M | 10.31M | 1.7M |
| Basic Shares Outstanding | 45.32M | 45.97M | 46.05M | 45.21M | 44.4M | 43.48M | 42.58M | 41.46M | 39.24M | 37.48M | 36.16M | 35.86M | 35.65M | 34.74M | 33.31M | 33.12M | 32.65M | 31.69M | 32.08M | 32.08M | 27.34M | 25.91M | 24.85M | 22.75M | 21.73M | 10.31M | 1.7M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Hospital CAPEX budget sensitivity
According to the provided quarterly data, Omnicell's revenue growth has fluctuated significantly, ranging from a 15.3% contraction in 2024Q1 to a 18.6% expansion by 2024Q4, suggesting that the company's top-line performance remains highly sensitive to hospital capital expenditure cycles and the timing of large-scale system installations.
The erratic revenue trajectory appears to reflect the inherent lumpiness of hardware-heavy medical equipment sales, where revenue recognition is tied to project go-live dates. While the recent shift toward subscription-based Advanced Services aims to smooth these cycles, the current data suggests that the business remains vulnerable to the budgetary constraints of its primary hospital customer base.
As reported in financial statements, Omnicell's gross margin has struggled to maintain consistency, oscillating between a low of 38.7% in 2024Q1 and a peak of 46.6% in 2024Q4, indicating that inflationary pressures on manufacturing components and logistics continue to weigh on the company's core profitability.
The inability to sustain gross margins above the 45% threshold suggests that the company lacks the pricing power necessary to fully offset rising input costs. Investors should monitor whether the transition to higher-margin software services can eventually decouple the company's profitability from the volatile costs associated with its hardware-centric manufacturing model.
Based on the income statement data, Omnicell's operating margin reached a razor-thin 0.44% in 2025Q4, demonstrating that the company's high fixed-cost base in R&D and SG&A effectively absorbs nearly all gross profit generated during periods of moderate revenue growth, leaving little room for operational error.
The lack of meaningful operating leverage suggests that the company's current scale is insufficient to support its heavy investment in software development and administrative overhead. Without a significant acceleration in revenue that outpaces these fixed costs, the company may continue to struggle with achieving consistent, meaningful profitability.
Analysis of the reported figures reveals that stock-based compensation, which reached $11.2M in 2025Q3, frequently exceeds the company's quarterly net income, suggesting that reported EPS figures may significantly overstate the actual economic value generated for shareholders after accounting for equity-based dilution and non-cash expenses.
The reliance on stock-based compensation as a significant component of the cost structure warrants further investigation into the company's true cash-generating capability. Investors should be cautious of the gap between GAAP net income and the underlying cash flow, as the current earnings profile appears heavily influenced by non-operating accounting adjustments.
Quick answers to the most common questions about buying OMCL stock.
For fiscal year 2025, Omnicell, Inc. (OMCL) reported total revenue of $1.18B. This represents a 1658.8% increase compared to $67.4M in 2000.
Omnicell, Inc. (OMCL) is profitable, generating $2.1M in net income for the fiscal year ending 2025 with a net profit margin of 0.2%.
Omnicell, Inc. (OMCL) reported an operating income of $5.2M, resulting in an operating profit margin of 0.4%. This margin reflects the operational efficiency of the business before interest and taxes.
Omnicell, Inc. (OMCL) generated $503.4M in gross profit for the year, representing a gross profit margin of 42.5%. This demonstrates the company's core pricing power and production efficiency.