ResMed Inc (RMD)
Operating 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 | ||
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Operating income (ttm) | US$ in thousands | 1,612,039 | 1,560,355 | 1,418,207 | 1,319,892 | 1,213,942 | 1,140,029 | 1,145,129 | 1,131,871 | 1,112,000 | 1,045,594 | 1,014,111 | 1,000,285 | 986,526 | 975,687 | 948,692 | 903,675 | 885,285 | 879,359 | 855,452 | 809,658 |
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 |
Operating profit margin | 32.10% | 31.67% | 29.50% | 29.03% | 27.31% | 26.12% | 27.03% | 26.80% | 27.69% | 27.78% | 27.98% | 27.96% | 27.87% | 28.33% | 28.33% | 28.27% | 28.64% | 28.44% | 28.25% | 27.38% |
March 31, 2025 calculation
Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $1,612,039K ÷ $5,021,540K
= 32.10%
The operating profit margin of ResMed Inc. has exhibited a generally stable trend over the analyzed period, with fluctuations within a narrow range. Starting at approximately 27.38% on June 30, 2020, the margin increased steadily through the subsequent quarters, reaching around 28.44% by December 31, 2020. This upward trend continued into 2021, with margins consistently hovering in the high 28% range, peaking at approximately 28.64% on March 31, 2021.
From mid-2021 into 2022, the operating profit margin remained relatively stable, fluctuating slightly around 27.8% to 28.0%. Notably, there was a modest decline in 2022, with the margin dropping to approximately 27.78% by the end of that year and further to around 27.69% at the end of the first quarter of 2023. Throughout 2023, the operating profit margin generally remained within the 26.8% to 27.0% range, reflecting slight compression.
However, starting from the second quarter of 2024, a positive trend emerges. The operating profit margin increased markedly, reaching 29.03% by June 30, 2024, and continuing upward to 29.50% by September 2024. This growth persisted into the end of 2024, with the margin rising to 31.67% by December 31, 2024. In the first quarter of 2025, the margin further increased to 32.10%.
This overall trajectory indicates that ResMed Inc. experienced a period of stability with marginal fluctuations from 2020 through early 2023, followed by a significant and consistent improvement commencing in mid-2024. The recent increases suggest enhanced operational efficiency or improved profitability, culminating in the highest recorded operating profit margin within the analyzed timeframe.
Peer comparison
Mar 31, 2025