ICU Medical, Inc.
Rank #342ValueICUI · Nasdaq · Healthcare
ICU Medical, Inc. (ICUI) — Rank #342 by gross profitability (GP/assets 0.21) · ROE 0.0% · Piotroski F-Score 6 / 9.
As-of 2026-09-15 · CIK 0000883984 · all metrics point-in-time as of the filing date.
About
ICU Medical, Inc., together with its subsidiaries, develops, manufactures, and sells medical products used in infusion therapy, vascular access, and vital care applications worldwide.
Show moreShow less
It offers Clave needlefree products under the MicroClave, MicroClave Clear, and NanoClave brands; Neutron catheter patency devices; ChemoLock closed system transfer devices and ChemoClaveTM for preparation and administration of hazardous drugs; Tego needle free connectors; Deltec GRIPPER non-coring needles for portal access; ClearGuard, SwabCap, and SwabTip disinfection caps; and vascular access products. The company provides IV therapy and diluents, such as sodium chloride, dextrose, balanced electrolyte solutions, lactated ringer's, ringer's, mannitol, sodium chloride/dextrose, and sterile water; and irrigation solutions comprising sodium chloride, sterile water irrigation, physiologic solutions, ringer's irrigation, acetic acid irrigation, glycine irrigation, sorbitol-mannitol irrigation, flexible containers, and pour bottle options. It offers infusion pumps under the Plum 360 and Plum Duo brands; ambulatory and syringe infusion hardware products; IV mediation safety software, including ICU Medical MedNet, an enterprise-class medication management platform; LifeShield and PharmGuard medication infusion safety software; hemodynamic monitoring products; anesthesia systems and devices, breathing circuits, ventilation, respiratory, and specialty airway products; temperature management solutions; anesthesia/pain management trays and components; and professional services. The company's customers include acute care hospitals, wholesalers, ambulatory clinics, and alternate site facilities, such as outpatient clinics, home health care providers, and long-term care facilities. ICU Medical, Inc.
was founded in 1984 and is based in San Clemente, California.
- Industry
- Medical Instruments & Supplies
- Sector
- Healthcare
- State
- DE
- Filer Category
- Large accelerated filer
- Fiscal Year End
- December 31
- Website
- icumed.com
Price History
Company Snapshot
P/E and dividend yield are the primary valuation lenses for mature businesses.
Market Cap
$3.90B
P/E (annual)
5194.7
P/S (annual)
1.7
P/B
1.8
P/OCF (annual)
21.7
Shareholder Yield
-2.1%
Employees
13,000
Industry
Medical Instruments & Supplies
Exchange
Nasdaq
Signal Flags
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
0/2 passTerry Smith quality gate
Passes 1/5 Terry Smith thresholdsWhat Growth Is Priced In
Implied revenue growth (10Y)
17.9%
The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).
Dilution drag: 2.1% — per-share value needs a total required return of 20.0% once share-count change is priced in.
vs. own 6-year median revenue growth: 2.0%
priced above its own historyCost-of-equity sensitivity (implied growth at different discount rates)
r = 8%
13.0%
r = 10% (base)
17.9%
r = 12%
22.1%
Net debt / market cap: 24.0%
Valuation History
Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.
P / E
Price / diluted EPS
P / S
Price / revenue per share
P / B
Price / book value per share
P / GP
Price / gross profit per share
P / FCF
Price / free cash flow per share
Disclosure regression check
A previously-disclosed line item is no longer reported. Worth checking the filing for why.
Dividend yield and payout ratio are the primary reads at this stage (trailing P/E — see valuation above).
Profitability
Gross profitability (GP / assets)
0.21
Primary signal (Novy-Marx).
17th of 17 SIC 3841 peers
Return on equity
0.0%
Gross margin
36.8%
17th of 17 SIC 3841 peers
Revenue growth (YoY)
-6.3%
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
-0.7%
Revenue CAGR (5Y)
11.9%
Earnings CAGR (3Y)
—
FCF CAGR (3Y)
—
Anti-fragile safety
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
0.85
11th of 16 SIC 3841 peers (best = lowest)
Current ratio
2.43×
12th of 17 SIC 3841 peers
Quick ratio
0.97×
Net cash
-$932.90M
Cash & equivalents minus total debt.
Recession resistance
Revenue through recessions
Worst single-year YoY revenue decline, 19 years of history
Cash-flow health
Free cash flow
$91.80M
Operating cash flow minus capex.
Positive free cash flow
FCF / net income
124.42
Cash-backing of earnings.
FCF/NI divergence
Unfavorable divergence (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
2.5%
Stock-based comp intensity.
Piotroski F-Score
F-Score
6 / 9
Fundamental-strength score (0-9).