ResMed Inc (RMD)

Net profit margin

		Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020
Net income (ttm)	US$ in thousands	1,313,254	1,248,705	1,112,883	1,020,950	958,378	890,386	906,500	897,556	862,953	809,465	786,302	779,437	779,474	521,981	499,744	474,503	457,240	698,858	679,898	621,674
Revenue (ttm)	US$ in thousands	5,021,540	4,926,780	4,807,490	4,546,017	4,444,877	4,364,797	4,235,737	4,222,994	4,015,671	3,763,271	3,624,405	3,578,126	3,539,492	3,443,759	3,348,896	3,196,825	3,091,065	3,091,753	3,027,899	2,957,011
Net profit margin		26.15%	25.35%	23.15%	22.46%	21.56%	20.40%	21.40%	21.25%	21.49%	21.51%	21.69%	21.78%	22.02%	15.16%	14.92%	14.84%	14.79%	22.60%	22.45%	21.02%

March 31, 2025 calculation

Net profit margin = Net income (ttm) ÷ Revenue (ttm)
= $1,313,254K ÷ $5,021,540K
= 26.15%

The net profit margin of ResMed Inc. exhibits a pattern of relative stability with minor fluctuations over the analyzed period from June 30, 2020, through March 31, 2025. Initially, between June 2020 and December 2020, the net profit margin increased from 21.02% to 22.60%, indicating an improvement in profitability relative to revenues.

Throughout 2021, the margin demonstrated slight variability, beginning the year at approximately 14.79% in March, then marginally rising to around 15.16% by December, reflective of a period of moderate stability with minor upward adjustments. Notably, in March 2022, the margin increased significantly to 22.02%, suggesting an improvement in profit efficiency during that quarter, which persisted into the subsequent quarters with margins of 21.78% and 21.69% in June and September 2022, respectively. The margin remained relatively steady through 2022 and into early 2023, averaging around 21.5%, before a slight decline to 20.40% in December 2023.

From late 2023 onward, the net profit margin demonstrates an upward trajectory. It rises from approximately 21.56% in March 2024 to 22.46% in June 2024, then continues to increase to 23.15% in September 2024 and reaches 25.35% in December 2024. The margin further improves to 26.15% in March 2025, indicating an overall trend of enhanced profitability relative to revenues in the more recent periods.

This temporal analysis suggests that, despite some fluctuations, ResMed Inc.'s net profit margin has exhibited a general tendency towards improvement in recent years, especially from late 2023 onwards. The upward trend in margins in the final quarters reflects potentially better cost management, pricing strategies, or revenue growth, contributing to higher profitability.