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ICU MEDICAL INC (ICUI) Stock Fundamental Analysis

NASDAQ:ICUI - US44930G1076 - Common Stock

125.63 USD
+1.53 (+1.23%)
Last: 9/4/2025, 8:13:35 PM
125.63 USD
0 (0%)
After Hours: 9/4/2025, 8:13:35 PM
Fundamental Rating

4

ICUI gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 190 industry peers in the Health Care Equipment & Supplies industry. ICUI has an average financial health and profitability rating. ICUI has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

ICUI had positive earnings in the past year.
In the past year ICUI had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: ICUI reported negative net income in multiple years.
Of the past 5 years ICUI 4 years had a positive operating cash flow.
ICUI Yearly Net Income VS EBIT VS OCF VS FCFICUI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M -100M 200M

1.2 Ratios

Looking at the Return On Assets, with a value of -0.90%, ICUI is in the better half of the industry, outperforming 70.00% of the companies in the same industry.
ICUI has a Return On Equity of -1.75%. This is in the better half of the industry: ICUI outperforms 70.53% of its industry peers.
The Return On Invested Capital of ICUI (2.81%) is better than 71.05% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for ICUI is significantly below the industry average of 8.46%.
The last Return On Invested Capital (2.81%) for ICUI is above the 3 year average (1.36%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA -0.9%
ROE -1.75%
ROIC 2.81%
ROA(3y)-1.71%
ROA(5y)1.06%
ROE(3y)-3.65%
ROE(5y)0.24%
ROIC(3y)1.36%
ROIC(5y)3.41%
ICUI Yearly ROA, ROE, ROICICUI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5 10

1.3 Margins

With a decent Operating Margin value of 5.43%, ICUI is doing good in the industry, outperforming 70.53% of the companies in the same industry.
ICUI's Operating Margin has declined in the last couple of years.
With a Gross Margin value of 35.84%, ICUI is not doing good in the industry: 72.11% of the companies in the same industry are doing better.
ICUI's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 5.43%
PM (TTM) N/A
GM 35.84%
OM growth 3Y-26.21%
OM growth 5Y-22.36%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-2.48%
GM growth 5Y-1.46%
ICUI Yearly Profit, Operating, Gross MarginsICUI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 20 30 40 50

4

2. Health

2.1 Basic Checks

ICUI has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for ICUI has been increased compared to 1 year ago.
ICUI has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, ICUI has a worse debt to assets ratio.
ICUI Yearly Shares OutstandingICUI Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M 20M
ICUI Yearly Total Debt VS Total AssetsICUI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B

2.2 Solvency

An Altman-Z score of 2.05 indicates that ICUI is not a great score, but indicates only limited risk for bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 2.05, ICUI is in the better half of the industry, outperforming 62.63% of the companies in the same industry.
ICUI has a debt to FCF ratio of 26.58. This is a negative value and a sign of low solvency as ICUI would need 26.58 years to pay back of all of its debts.
ICUI has a better Debt to FCF ratio (26.58) than 70.00% of its industry peers.
ICUI has a Debt/Equity ratio of 0.63. This is a neutral value indicating ICUI is somewhat dependend on debt financing.
ICUI's Debt to Equity ratio of 0.63 is on the low side compared to the rest of the industry. ICUI is outperformed by 68.95% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.63
Debt/FCF 26.58
Altman-Z 2.05
ROIC/WACC0.37
WACC7.51%
ICUI Yearly LT Debt VS Equity VS FCFICUI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B 1.5B 2B

2.3 Liquidity

A Current Ratio of 2.44 indicates that ICUI has no problem at all paying its short term obligations.
Looking at the Current ratio, with a value of 2.44, ICUI is in line with its industry, outperforming 50.00% of the companies in the same industry.
A Quick Ratio of 1.17 indicates that ICUI should not have too much problems paying its short term obligations.
The Quick ratio of ICUI (1.17) is worse than 70.00% of its industry peers.
Industry RankSector Rank
Current Ratio 2.44
Quick Ratio 1.17
ICUI Yearly Current Assets VS Current LiabilitesICUI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B

5

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 32.86% over the past year.
ICUI shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -5.28% yearly.
Looking at the last year, ICUI shows a small growth in Revenue. The Revenue has grown by 2.96% in the last year.
ICUI shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 13.47% yearly.
EPS 1Y (TTM)32.86%
EPS 3Y-5.58%
EPS 5Y-5.28%
EPS Q2Q%34.62%
Revenue 1Y (TTM)2.96%
Revenue growth 3Y21.86%
Revenue growth 5Y13.47%
Sales Q2Q%-6.44%

3.2 Future

The Earnings Per Share is expected to grow by 17.18% on average over the next years. This is quite good.
ICUI is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.42% yearly.
EPS Next Y14.6%
EPS Next 2Y15.15%
EPS Next 3Y15.92%
EPS Next 5Y17.18%
Revenue Next Year-5.53%
Revenue Next 2Y-3.44%
Revenue Next 3Y-0.82%
Revenue Next 5Y2.42%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
ICUI Yearly Revenue VS EstimatesICUI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 500M 1B 1.5B 2B 2.5B
ICUI Yearly EPS VS EstimatesICUI Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2 4 6 8 10

6

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 16.71, ICUI is valued correctly.
84.21% of the companies in the same industry are more expensive than ICUI, based on the Price/Earnings ratio.
ICUI's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.03.
ICUI is valuated correctly with a Price/Forward Earnings ratio of 15.23.
Based on the Price/Forward Earnings ratio, ICUI is valued cheaper than 83.16% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.63. ICUI is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 16.71
Fwd PE 15.23
ICUI Price Earnings VS Forward Price EarningsICUI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

85.79% of the companies in the same industry are more expensive than ICUI, based on the Enterprise Value to EBITDA ratio.
ICUI's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. ICUI is cheaper than 74.74% of the companies in the same industry.
Industry RankSector Rank
P/FCF 61.41
EV/EBITDA 12.2
ICUI Per share dataICUI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40 60 80

4.3 Compensation for Growth

ICUI's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
ICUI's earnings are expected to grow with 15.91% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.14
PEG (5Y)N/A
EPS Next 2Y15.15%
EPS Next 3Y15.92%

0

5. Dividend

5.1 Amount

No dividends for ICUI!.
Industry RankSector Rank
Dividend Yield N/A

ICU MEDICAL INC

NASDAQ:ICUI (9/4/2025, 8:13:35 PM)

After market: 125.63 0 (0%)

125.63

+1.53 (+1.23%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)08-07 2025-08-07/amc
Earnings (Next)11-10 2025-11-10/amc
Inst Owners102.26%
Inst Owner Change0.43%
Ins Owners1.14%
Ins Owner Change2.22%
Market Cap3.10B
Analysts83.64
Price Target179.72 (43.06%)
Short Float %5.22%
Short Ratio4.33
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)34.5%
Min EPS beat(2)31.74%
Max EPS beat(2)37.25%
EPS beat(4)4
Avg EPS beat(4)33.31%
Min EPS beat(4)24.67%
Max EPS beat(4)39.58%
EPS beat(8)8
Avg EPS beat(8)30.18%
EPS beat(12)12
Avg EPS beat(12)24.5%
EPS beat(16)15
Avg EPS beat(16)18.53%
Revenue beat(2)1
Avg Revenue beat(2)0.66%
Min Revenue beat(2)-1.77%
Max Revenue beat(2)3.09%
Revenue beat(4)3
Avg Revenue beat(4)0.99%
Min Revenue beat(4)-1.77%
Max Revenue beat(4)3.09%
Revenue beat(8)5
Avg Revenue beat(8)-0.01%
Revenue beat(12)6
Avg Revenue beat(12)-0.81%
Revenue beat(16)8
Avg Revenue beat(16)-0.38%
PT rev (1m)-6.4%
PT rev (3m)-6.53%
EPS NQ rev (1m)-4.57%
EPS NQ rev (3m)-22.31%
EPS NY rev (1m)5.3%
EPS NY rev (3m)5.3%
Revenue NQ rev (1m)-0.19%
Revenue NQ rev (3m)-14.88%
Revenue NY rev (1m)-0.58%
Revenue NY rev (3m)-0.58%
Valuation
Industry RankSector Rank
PE 16.71
Fwd PE 15.23
P/S 1.31
P/FCF 61.41
P/OCF 22.34
P/B 1.47
P/tB N/A
EV/EBITDA 12.2
EPS(TTM)7.52
EY5.99%
EPS(NY)8.25
Fwd EY6.56%
FCF(TTM)2.05
FCFY1.63%
OCF(TTM)5.62
OCFY4.48%
SpS96.09
BVpS85.69
TBVpS-3.41
PEG (NY)1.14
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -0.9%
ROE -1.75%
ROCE 3.56%
ROIC 2.81%
ROICexc 3.06%
ROICexgc 9.06%
OM 5.43%
PM (TTM) N/A
GM 35.84%
FCFM 2.13%
ROA(3y)-1.71%
ROA(5y)1.06%
ROE(3y)-3.65%
ROE(5y)0.24%
ROIC(3y)1.36%
ROIC(5y)3.41%
ROICexc(3y)1.47%
ROICexc(5y)4.61%
ROICexgc(3y)4.17%
ROICexgc(5y)7.18%
ROCE(3y)1.72%
ROCE(5y)4.32%
ROICexcg growth 3Y-18.09%
ROICexcg growth 5Y-16.18%
ROICexc growth 3Y-37.66%
ROICexc growth 5Y-28.8%
OM growth 3Y-26.21%
OM growth 5Y-22.36%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-2.48%
GM growth 5Y-1.46%
F-Score7
Asset Turnover0.58
Health
Industry RankSector Rank
Debt/Equity 0.63
Debt/FCF 26.58
Debt/EBITDA 3.98
Cap/Depr 42.51%
Cap/Sales 3.72%
Interest Coverage 250
Cash Conversion 41.23%
Profit Quality N/A
Current Ratio 2.44
Quick Ratio 1.17
Altman-Z 2.05
F-Score7
WACC7.51%
ROIC/WACC0.37
Cap/Depr(3y)41.42%
Cap/Depr(5y)66.41%
Cap/Sales(3y)4.1%
Cap/Sales(5y)5.27%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)32.86%
EPS 3Y-5.58%
EPS 5Y-5.28%
EPS Q2Q%34.62%
EPS Next Y14.6%
EPS Next 2Y15.15%
EPS Next 3Y15.92%
EPS Next 5Y17.18%
Revenue 1Y (TTM)2.96%
Revenue growth 3Y21.86%
Revenue growth 5Y13.47%
Sales Q2Q%-6.44%
Revenue Next Year-5.53%
Revenue Next 2Y-3.44%
Revenue Next 3Y-0.82%
Revenue Next 5Y2.42%
EBIT growth 1Y118.78%
EBIT growth 3Y-10.08%
EBIT growth 5Y-11.9%
EBIT Next Year38.33%
EBIT Next 3Y19.87%
EBIT Next 5Y10.07%
FCF growth 1Y216.11%
FCF growth 3Y-15.14%
FCF growth 5YN/A
OCF growth 1Y243.63%
OCF growth 3Y-8.63%
OCF growth 5Y14.9%