Latest Ratios: P/E Ratio 57.3x · EV/EBITDA 43.1x · ROE 24.8%. (2012–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.3B | $1.3B | $703M | $604M | $357M | $582M | $284M | $287M | $296M | $178M | $133M |
| Enterprise Value | $1.2B | $1.2B | $651M | $556M | $302M | $522M | $236M | $246M | $268M | $159M | $115M |
| P/E Ratio → | 57.28 | 55.59 | 36.67 | 35.16 | 27.74 | 62.45 | 207.27 | 29.97 | 47.04 | 378.75 | 18.50 |
| P/S Ratio | 15.29 | 14.92 | 9.60 | 9.21 | 6.71 | 13.91 | 8.94 | 7.45 | 9.73 | 7.69 | 4.10 |
| P/B Ratio | 13.62 | 13.22 | 8.10 | 8.46 | 4.85 | 8.06 | 4.62 | 5.17 | 7.06 | 5.39 | 4.17 |
| P/FCF | 74.57 | 72.78 | 39.90 | 110.66 | 43.77 | 55.33 | 54.75 | 29.45 | 41.65 | 68.53 | 16.88 |
| P/OCF | 51.36 | 50.12 | 27.44 | 44.85 | 35.60 | 51.68 | 48.76 | 28.05 | 40.16 | 51.98 | 14.15 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 14.31 | 8.89 | 8.48 | 5.66 | 12.49 | 7.45 | 6.40 | 8.81 | 6.90 | 3.55 |
| EV / EBITDA | 43.12 | 42.04 | 28.58 | 26.74 | 18.51 | 46.53 | 405.47 | 24.92 | 40.86 | 92.10 | 10.33 |
| EV / EBIT | 47.05 | 45.87 | 29.64 | 27.76 | 19.31 | 53.20 | — | 28.51 | 43.27 | 114.12 | 10.53 |
| EV / FCF | — | 69.80 | 36.95 | 101.91 | 36.94 | 49.67 | 45.61 | 25.29 | 37.71 | 61.50 | 14.64 |
Margins and return-on-capital ratios measuring operating efficiency
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 | 76.7% | 76.7% | 76.9% | 76.5% | 77.4% | 76.6% | 74.3% | 77.1% | 76.3% | 75.9% | 81.1% |
| Operating Margin | 31.2% | 31.2% | 30.0% | 30.6% | 29.3% | 23.5% | -2.4% | 22.5% | 19.7% | 5.6% | 33.6% |
| Net Profit Margin | 26.8% | 26.8% | 26.3% | 26.2% | 24.1% | 22.3% | 4.3% | 25.0% | 20.7% | 2.2% | 22.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 24.8% | 24.8% | 24.3% | 23.7% | 17.6% | 14.0% | 2.3% | 19.8% | 16.8% | 1.5% | 22.6% |
| ROA | 21.7% | 21.7% | 20.2% | 19.4% | 15.2% | 12.1% | 2.0% | 16.7% | 14.4% | 1.3% | 19.9% |
| ROIC | 50.2% | 50.2% | 56.4% | 72.2% | 76.7% | 55.2% | -3.9% | 44.9% | 31.4% | 6.7% | 61.3% |
| ROCE | 27.8% | 27.8% | 26.5% | 26.2% | 20.4% | 13.8% | -1.2% | 16.5% | 15.3% | 3.8% | 33.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | 0.00 | 0.03 | 0.03 | 0.03 | 0.04 | 0.05 | — | — | — |
| Debt / EBITDA | — | — | 0.01 | 0.10 | 0.14 | 0.22 | 4.66 | 0.30 | — | — | — |
| Net Debt / Equity | — | -0.54 | -0.60 | -0.67 | -0.76 | -0.82 | -0.77 | -0.73 | -0.67 | -0.55 | -0.56 |
| Net Debt / EBITDA | -1.79 | -1.79 | -2.29 | -2.29 | -3.42 | -5.30 | -81.26 | -4.10 | -4.27 | -10.52 | -1.59 |
| Debt / FCF | — | -2.98 | -2.96 | -8.74 | -6.83 | -5.66 | -9.14 | -4.16 | -3.94 | -7.03 | -2.25 |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($51M) exceeds total debt ($0)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 7.98 | 7.98 | 8.84 | 4.65 | 9.06 | 11.18 | 12.96 | 10.06 | 9.50 | 8.61 | 9.33 |
| Quick Ratio | 6.84 | 6.84 | 7.62 | 3.87 | 8.43 | 10.54 | 12.16 | 9.44 | 8.63 | 7.58 | 8.27 |
| Cash Ratio | 5.03 | 5.03 | 6.14 | 3.05 | 6.78 | 9.16 | 10.57 | 7.89 | 7.33 | 6.46 | 7.01 |
| Asset Turnover | — | 0.77 | 0.74 | 0.71 | 0.62 | 0.50 | 0.45 | 0.58 | 0.63 | 0.59 | 0.87 |
| Inventory Turnover | 1.68 | 1.68 | 1.62 | 1.20 | 2.24 | 2.27 | 2.07 | 2.42 | 1.78 | 1.32 | 1.58 |
| Days Sales Outstanding | — | 59.52 | 52.61 | 68.06 | 90.90 | 44.84 | 52.65 | 69.11 | 50.48 | 59.76 | 42.41 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
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 | 1.2% | 1.2% | 1.9% | 2.2% | 3.5% | — | — | — | — | — | — |
| Payout Ratio | 66.9% | 66.9% | 71.1% | 76.9% | 97.9% | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.7% | 1.8% | 2.7% | 2.8% | 3.6% | 1.6% | 0.5% | 3.3% | 2.1% | 0.3% | 5.4% |
| FCF Yield | 1.3% | 1.4% | 2.5% | 0.9% | 2.3% | 1.8% | 1.8% | 3.4% | 2.4% | 1.5% | 5.9% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 1.0% | 7.5% |
| Total Shareholder Yield | 1.2% | 1.2% | 1.9% | 2.2% | 3.5% | 0.0% | 0.0% | 0.0% | 0.1% | 1.0% | 7.5% |
| Shares Outstanding | — | $13M | $13M | $13M | $13M | $13M | $12M | $12M | $12M | $12M | $12M |
Regulatory 510(k) approval delays
According to current market data, IRMD trades at a forward P/E of 45.28, a valuation that appears to price in significant future growth and suggests investors view the company as a high-margin, recurring-revenue software-like entity rather than a traditional medical hardware manufacturer.
The current P/E multiple of 53.69 TTM sits at a premium relative to broader medical device peers, implying that the market expects sustained double-digit growth from the upcoming 3600 pump cycle. While the PEG ratio of 0.73 suggests the stock may be undervalued relative to its growth prospects, investors should monitor whether the hardware refresh cycle meets these aggressive expectations.
Based on reported financial statements, IRMD maintains a consistent ROIC trend, hovering between 10.9% and 14.4% over the last ten quarters, which indicates that the company is effectively compounding capital by leveraging its high-margin, low-intensity manufacturing model to generate superior returns on invested capital.
The stability of these returns suggests that the company's moat, protected by specialized non-magnetic motor technology, remains intact and resistant to competitive erosion. This efficiency is largely a function of high gross margins rather than financial leverage, as the company operates with a debt-free balance sheet.
As reported in recent quarterly filings, the company's cash conversion cycle has remained elevated, fluctuating between 212 and 323 days, which appears to be driven by high inventory levels rather than inefficient collection processes, suggesting a strategic build-up of components for future product cycles.
The high days inventory outstanding (DIO) warrants further investigation to determine if this reflects a deliberate buffer against supply chain volatility or a potential accumulation of obsolete hardware. Investors should monitor whether these inventory levels normalize once the next-generation pump system reaches full-scale commercialization.
According to the latest balance sheet data, IRMD maintains a current ratio of 7.13, a figure that underscores a fortress liquidity position that effectively eliminates short-term solvency risk and provides the company with significant flexibility to navigate potential regulatory or macroeconomic headwinds.
With zero debt and over $56 million in cash, the company is well-positioned to fund internal R&D or pursue strategic initiatives without external financing. This liquidity profile is a key defensive asset, though it may also suggest that capital is currently under-deployed relative to the company's growth potential.
Based on an analysis of the business model, the EV/EBITDA ratio is frequently misapplied to IRMD, as it obscures the company's unique 'razor-and-blade' economics and the high-margin, recurring nature of its disposable tubing sales which are more akin to software-as-a-service revenue streams.
Using standard hardware multiples fails to account for the high switching costs and the long-term value of the installed base, which provides a recurring revenue tail that traditional capital equipment manufacturers lack. Analysts should instead focus on the ratio of disposable-to-hardware revenue to better gauge the true underlying earning power of the business.
Includes 30+ ratios · 14 years · Updated daily
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Quick answers to the most common questions about buying IRMD stock.
IRadimed Corporation's current P/E ratio is 57.3x. The historical average is 42.4x. This places it at the 80th percentile of its historical range.
IRadimed Corporation's current EV/EBITDA is 43.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 36.1x.
IRadimed Corporation's return on equity (ROE) is 24.8%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 20.5%.
Based on historical data, IRadimed Corporation is trading at a P/E of 57.3x. This is at the 80th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
IRadimed Corporation's current dividend yield is 1.17% with a payout ratio of 66.9%.
IRadimed Corporation has 76.7% gross margin and 31.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.