Latest Ratios: P/E Ratio 46.4x · EV/EBITDA 19.9x · ROE 18.1%. (2004–2025 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 | $11.3B | $20.4B | $19.3B | $16.0B | $20.6B | $18.2B | $16.9B | $10.7B | $4.8B | $4.0B | $2.2B |
| Enterprise Value | $11.7B | $20.8B | $19.8B | $16.8B | $21.4B | $18.7B | $17.0B | $11.4B | $5.3B | $4.3B | $2.4B |
| P/E Ratio → | 46.42 | 81.68 | 45.17 | 73.80 | 4474.01 | 1064.28 | 2556.30 | 901.05 | 1468.89 | — | — |
| P/S Ratio | 4.19 | 7.55 | 9.31 | 9.41 | 15.77 | 16.61 | 18.64 | 14.45 | 8.58 | 8.63 | 5.88 |
| P/B Ratio | 7.66 | 13.49 | 15.92 | 21.81 | 43.20 | 32.80 | 27.93 | 140.53 | 22.82 | 25.25 | 34.16 |
| P/FCF | 30.03 | 54.10 | 63.16 | 227.92 | — | — | — | — | — | — | — |
| P/OCF | 19.92 | 35.89 | 44.83 | 109.66 | 172.95 | — | 200.69 | 108.40 | 134.80 | 96.91 | 135.58 |
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 | — | 7.67 | 9.54 | 9.88 | 16.39 | 17.06 | 18.83 | 15.40 | 9.43 | 9.26 | 6.41 |
| EV / EBITDA | 19.89 | 35.39 | 50.70 | 57.29 | 212.20 | 102.19 | 159.28 | 145.94 | 123.66 | 660.90 | 752.03 |
| EV / EBIT | 24.64 | 43.83 | 57.62 | 66.89 | 467.02 | 228.00 | 310.14 | 245.54 | 168.80 | — | — |
| EV / FCF | — | 54.98 | 64.70 | 239.30 | — | — | — | — | — | — | — |
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 | 71.6% | 71.6% | 69.8% | 68.3% | 61.7% | 68.4% | 64.4% | 65.1% | 65.7% | 59.8% | 57.5% |
| Operating Margin | 17.5% | 17.5% | 14.9% | 13.0% | 2.9% | 11.5% | 5.7% | 6.8% | 4.9% | -1.6% | -2.9% |
| Net Profit Margin | 9.1% | 9.1% | 20.2% | 12.2% | 0.4% | 1.5% | 0.8% | 1.6% | 0.6% | -5.8% | -7.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 18.1% | 18.1% | 43.0% | 34.1% | 0.9% | 2.9% | 2.0% | 8.1% | 1.8% | -24.2% | -59.4% |
| ROA | 7.9% | 7.9% | 14.7% | 8.5% | 0.2% | 0.9% | 0.5% | 1.1% | 0.4% | -4.2% | -7.9% |
| ROIC | 20.1% | 20.1% | 14.4% | 11.7% | 2.4% | 10.4% | 5.0% | 5.1% | 3.6% | -1.6% | -4.6% |
| ROCE | 18.7% | 18.7% | 13.2% | 10.9% | 2.0% | 7.2% | 3.9% | 5.6% | 3.5% | -1.3% | -3.5% |
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 | 0.69 | 0.69 | 1.17 | 1.98 | 3.01 | 2.31 | 1.78 | 11.94 | 2.79 | 3.57 | 5.27 |
| Debt / EBITDA | 1.79 | 1.79 | 3.65 | 4.95 | 14.21 | 7.01 | 10.07 | 11.63 | 13.77 | 87.10 | 106.44 |
| Net Debt / Equity | — | 0.22 | 0.39 | 1.09 | 1.70 | 0.89 | 0.28 | 9.25 | 2.25 | 1.85 | 3.10 |
| Net Debt / EBITDA | 0.57 | 0.57 | 1.20 | 2.73 | 8.02 | 2.70 | 1.58 | 9.01 | 11.12 | 45.17 | 62.60 |
| Debt / FCF | — | 0.89 | 1.53 | 11.39 | — | — | — | — | — | — | — |
| Interest Coverage | 5.94 | 5.94 | 8.03 | 6.93 | 1.27 | 1.33 | 1.14 | 1.34 | 1.42 | -0.39 | -0.86 |
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 | 2.78 | 2.78 | 3.54 | 3.47 | 3.56 | 5.75 | 5.96 | 3.69 | 3.93 | 6.24 | 6.64 |
| Quick Ratio | 2.11 | 2.11 | 2.73 | 2.58 | 2.61 | 4.43 | 5.21 | 3.05 | 3.31 | 5.85 | 6.00 |
| Cash Ratio | 1.05 | 1.05 | 1.80 | 1.56 | 1.85 | 3.46 | 4.56 | 2.38 | 2.50 | 5.12 | 5.36 |
| Asset Turnover | — | 0.85 | 0.67 | 0.66 | 0.58 | 0.54 | 0.48 | 0.65 | 0.61 | 0.57 | 0.80 |
| Inventory Turnover | 1.70 | 1.70 | 1.45 | 1.33 | 1.44 | 1.14 | 2.09 | 2.55 | 2.71 | 5.52 | 4.39 |
| Days Sales Outstanding | — | 69.67 | 64.40 | 77.36 | 57.49 | 53.48 | 33.82 | 40.94 | 49.63 | 42.01 | 28.65 |
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 | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.2% | 1.2% | 2.2% | 1.4% | 0.0% | 0.1% | 0.0% | 0.1% | 0.1% | — | — |
| FCF Yield | 3.3% | 1.8% | 1.6% | 0.4% | — | — | — | — | — | — | — |
| Buyback Yield | 0.5% | 0.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.5% | 0.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $72M | $74M | $74M | $70M | $69M | $66M | $62M | $61M | $58M | $57M |
Manufacturing scale and competition
According to current market data, Insulet trades at a forward P/E of 24.41, which, when viewed alongside a PEG ratio of 0.44, suggests that investors are pricing in significant future earnings expansion relative to the company's historical valuation multiples and its direct medical device peers.
The valuation appears to bake in aggressive assumptions regarding the long-term adoption of the Omnipod 5 platform and successful penetration into the Type 2 diabetes market. While the forward multiple is lower than the TTM P/E of 45.47, investors should monitor whether the company can sustain the high growth rates required to justify this premium in a competitive landscape.
Based on reported figures, Insulet's ROIC has remained relatively modest, fluctuating between 2.6% and 6.8% over the last ten quarters, which indicates that the company is currently in a heavy investment phase rather than a period of optimized capital compounding.
The divergence between high gross margins and lower ROIC suggests that significant capital is being consumed by the expansion of manufacturing infrastructure and SG&A investments. This trend warrants further investigation into whether these capital expenditures will eventually yield higher returns as the manufacturing base reaches full scale.
As evidenced by the quarterly data, the cash conversion cycle has remained elevated, peaking at 319 days in 2025Q1 before moderating to 196 days in 2026Q1, reflecting significant volatility in inventory management and the timing of receivables within the pharmacy distribution channel.
The high days inventory outstanding (DIO) suggests that the company maintains substantial buffer stocks, likely to mitigate supply chain risks associated with its complex, proprietary pod manufacturing. Investors should monitor whether these efficiency metrics stabilize as the company matures its production processes and distribution logistics.
As reported in financial statements, Insulet has successfully reduced its debt-to-equity ratio from 1.98 in 2023Q4 to a negligible 0.01 by 2026Q1, signaling a strategic shift toward a cleaner capital structure that significantly lowers the company's interest rate sensitivity.
This rapid deleveraging appears to provide the company with substantial financial flexibility to navigate potential market downturns or fund future growth initiatives without the burden of debt service. The improvement in interest coverage ratios further supports the view that the balance sheet is well-positioned to withstand operational volatility.
The P/E ratio is frequently misapplied to Insulet's business model because it fails to account for the heavy, non-recurring investments in manufacturing automation and the significant impact of stock-based compensation on reported net income, which obscures the company's underlying cash-generating potential.
Investors should instead focus on free cash flow margins and adjusted EBITDA, which better reflect the recurring nature of the pod-based revenue stream. Relying solely on P/E may lead to an inaccurate assessment of the company's valuation, as it ignores the capital-intensive nature of scaling a proprietary, high-tech medical device.
Includes 30+ ratios · 22 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying PODD stock.
Insulet Corporation's current P/E ratio is 46.4x. The historical average is 66.9x. This places it at the 33th percentile of its historical range.
Insulet Corporation's current EV/EBITDA is 19.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 47.8x.
Insulet Corporation's return on equity (ROE) is 18.1%. The historical average is -52.9%.
Based on historical data, Insulet Corporation is trading at a P/E of 46.4x. This is at the 33th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Insulet Corporation has 71.6% gross margin and 17.5% operating margin. Operating margin between 10-20% is typical for established companies.
Insulet Corporation's Debt/EBITDA ratio is 1.8x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.