ICU Medical, Inc. (ICUI) Key Metrics
ICUI valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $4.08B
- Enterprise value
- $5.00B
- P/E (TTM)
- 137.0 10-yr median 51.7
- Forward P/E
- 16.9
- PEG ratio
- 0.08
- Price / sales
- 1.9 10-yr median 3.3
- Price / book
- 1.9 10-yr median 3.0
- EV / EBITDA
- 17.6 10-yr median 19.7
- Dividend yield
- —
- Beta
- 0.86
ICUI key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsICUI valuation Price multiples at each fiscal year-end price.
ICUI returns How much profit the business earns on the capital it uses.
ICUI per-share figures Results divided by the shares outstanding at year-end.
ICUI financial health Debt, liquidity and how easily interest is covered.
ICUI efficiency & capital use Working capital cycle and where the cash goes.
ICUI valuation history
ICUI returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
ICUI debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
ICUI cash returned to shareholders
ICUI price vs earnings per share
ICUI key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $3.55B | $3.78B | $2.40B | $3.76B | $5.17B | $4.63B | $4.03B | $4.96B | $4.51B | $2.54B |
| Enterprise value | $4.64B | $5.12B | $3.85B | $5.28B | $4.65B | $4.27B | $3.78B | $4.58B | $4.21B | $2.10B |
| P/E ratio | — | — | — | — | 50.1 | 53.3 | 39.9 | 172.3 | 65.6 | 40.3 |
| Price / sales | 1.6 | 1.6 | 1.1 | 1.6 | 3.9 | 3.6 | 3.2 | 3.5 | 3.5 | 6.7 |
| Price / book | 1.7 | 1.9 | 1.1 | 1.8 | 3.2 | 3.1 | 2.9 | 3.9 | 3.8 | 3.9 |
| Price / free cash flow | 38.7 | 30.4 | 33.1 | — | 27.7 | 37.8 | — | 83.5 | 60.3 | 38.9 |
| Price / operating cash flow | 19.8 | 18.5 | 14.5 | — | 19.3 | 20.8 | 39.6 | 31.0 | 29.2 | 28.3 |
| EV / sales | 2.1 | 2.1 | 1.7 | 2.3 | 3.5 | 3.4 | 3.0 | 3.3 | 3.3 | 5.5 |
| EV / EBITDA | 15.0 | 19.7 | 15.2 | 27.6 | 21.7 | 22.0 | 19.6 | 16.9 | 20.5 | 17.8 |
| EV / free cash flow | 50.5 | 41.1 | 53.1 | — | 24.9 | 34.9 | — | 77.1 | 56.4 | 32.1 |
| Earnings yield | 0.0% | −3.1% | −1.2% | −2.0% | 2.0% | 1.9% | 2.5% | 0.6% | 1.5% | 2.5% |
| Free cash flow yield | 2.6% | 3.3% | 3.0% | −4.3% | 3.6% | 2.6% | −0.1% | 1.2% | 1.7% | 2.6% |
| Dividend yield | — | — | 0.4% | 0.3% | 0.0% | 0.0% | — | — | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | 0.2% | 0.3% | 0.8% | 0.6% | 0.2% | 0.3% | 0.5% | 0.1% | 0.1% | 0.7% |
| Share price at fiscal year-end | $142.67 | $155.17 | $99.74 | $157.48 | $237.34 | $214.49 | $187.12 | $229.63 | $216.00 | $147.35 |
| Per share | ||||||||||
| Revenue per share | $89.54 | $97.67 | $93.77 | $95.53 | $60.43 | $58.87 | $58.77 | $64.81 | $61.97 | $21.99 |
| Earnings per share | $0.03 | −$4.83 | −$1.23 | −$3.11 | $4.74 | $4.02 | $4.69 | $1.33 | $3.29 | $3.66 |
| Operating cash flow per share | $7.22 | $8.37 | $6.90 | −$2.60 | $12.28 | $10.32 | $4.73 | $7.42 | $7.40 | $5.21 |
| Free cash flow per share | $3.69 | $5.11 | $3.01 | −$6.76 | $8.56 | $5.67 | −$0.19 | $2.75 | $3.58 | $3.79 |
| Cash per share | $12.37 | $12.65 | $10.57 | $8.92 | $26.04 | $19.03 | $13.58 | $17.69 | $14.39 | $25.80 |
| Book value per share | $85.28 | $80.58 | $88.14 | $87.56 | $74.19 | $69.58 | $63.92 | $58.50 | $57.45 | $38.26 |
| Tangible book value per share | −$0.38 | −$8.54 | −$9.12 | −$14.33 | $63.55 | $58.91 | $52.66 | $51.80 | $49.96 | $36.64 |
| Dividends per share | — | — | $0.39 | $0.46 | $0.05 | $0.01 | — | — | $0.00 | $0.00 |
| Capex per share | $3.54 | $3.25 | $3.89 | $4.16 | $3.73 | $4.65 | $4.92 | $4.67 | $3.82 | $1.42 |
| Debt per share | $55.90 | $67.31 | $70.73 | $72.66 | $2.07 | $2.44 | $1.68 | $0.28 | $0.43 | $0.00 |
| Shares outstanding | 24.9M | 24.4M | 24.1M | 23.9M | 21.8M | 21.6M | 21.5M | 21.6M | 20.9M | 17.3M |
| Change in shares outstanding | +2.1% | +1.2% | +0.9% | +9.6% | +0.9% | +0.2% | −0.3% | +3.6% | +20.9% | +4.6% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 0.0% | −5.8% | −1.4% | −4.0% | 6.6% | 6.0% | 7.7% | 2.3% | 7.4% | 10.2% |
| Return on invested capital (ROIC) | 1.6% | 1.0% | 0.5% | −1.4% | 9.2% | 7.7% | 9.4% | 2.4% | −2.7% | 29.4% |
| Return on assets (ROA) | 0.0% | −2.7% | −0.7% | −2.3% | 5.7% | 5.0% | 6.2% | 1.9% | 6.2% | 9.5% |
| Return on tangible assets | 0.0% | −5.8% | −1.5% | −3.6% | 6.3% | 5.7% | 7.0% | 2.0% | 5.1% | 9.3% |
| Free cash flow margin | 4.1% | 5.2% | 3.2% | −7.1% | 14.2% | 9.6% | −0.3% | 4.2% | 5.8% | 17.2% |
| Income quality (OCF / net income) | 245.69 | — | — | — | 2.59 | 2.56 | 1.01 | 5.56 | 2.25 | 1.43 |
| Financial health | ||||||||||
| Total debt | $1.39B | $1.64B | $1.70B | $1.73B | $45.0M | $52.7M | $36.3M | $6.2M | $9.1M | $0 |
| Cash & short-term investments | $308.0M | $308.6M | $254.7M | $213.0M | $567.2M | $410.8M | $292.6M | $382.1M | $300.1M | $445.1M |
| Net debt | $1.08B | $1.33B | $1.45B | $1.52B | −$522.2M | −$358.1M | −$256.4M | −$376.0M | −$291.1M | −$445.1M |
| Debt / equity | 0.66 | 0.84 | 0.80 | 0.83 | 0.03 | 0.04 | 0.03 | 0.00 | 0.01 | 0.00 |
| Debt / assets | 0.34 | 0.39 | 0.39 | 0.38 | 0.02 | 0.03 | 0.02 | 0.00 | 0.01 | 0.00 |
| Net debt / EBITDA | 3.51 | 5.13 | 5.72 | 7.94 | −2.44 | −1.84 | −1.33 | −1.38 | −1.42 | −3.77 |
| Current ratio | 2.36 | 2.59 | 2.53 | 2.50 | 5.13 | 4.68 | 3.55 | 3.72 | 4.11 | 14.04 |
| Quick ratio | 1.13 | 1.54 | 1.06 | 1.09 | 3.68 | 3.07 | 2.19 | 2.47 | 2.74 | 12.82 |
| Interest coverage | 1.0 | 0.4 | 0.2 | -0.6 | 143.6 | 56.0 | 195.6 | 30.5 | -7.4 | 702.9 |
| Working capital | $678.6M | $885.8M | $739.4M | $740.6M | $829.0M | $718.9M | $633.7M | $677.7M | $654.4M | $528.6M |
| Invested capital | $3.21B | $3.30B | $3.57B | $3.61B | $1.09B | $1.14B | $1.12B | $887.7M | $907.2M | $215.1M |
| Tangible asset value | −$9.5M | −$208.3M | −$219.6M | −$342.1M | $1.38B | $1.27B | $1.13B | $1.12B | $1.04B | $632.2M |
| Net current asset value | −$749.2M | −$796.7M | −$1.03B | −$1.19B | $765.1M | $652.9M | $567.1M | $605.3M | $566.0M | $524.6M |
| Graham number | $7.51 | — | — | — | $88.91 | $79.36 | $82.13 | $41.89 | $65.22 | $56.10 |
| Graham net-net per share | −$47.20 | −$60.92 | −$62.64 | −$70.37 | $24.85 | $18.65 | $13.83 | $16.82 | $12.35 | $27.21 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | $9.3M | $10.9M | $1.0M | $317,000 | — | — | $0 | $0 |
| Share buybacks (net) | $8.8M | $12.0M | $9.3M | $10.9M | $8.3M | $12.9M | $18.6M | $6.3M | $4.1M | $17.2M |
| Dividend payout ratio | — | — | — | — | 1.0% | 0.4% | — | — | 0.0% | 0.0% |
| Dividends + buybacks / free cash flow | 9.5% | 9.6% | 25.8% | — | 5.0% | 10.8% | — | 10.5% | 5.4% | 26.4% |
| Capex / revenue | 3.9% | 3.3% | 4.1% | 4.4% | 6.2% | 7.9% | 8.4% | 7.2% | 6.2% | 6.5% |
| Capex / operating cash flow | 49.0% | 38.9% | 56.4% | — | 30.3% | 45.1% | 104.0% | 62.9% | 51.6% | 27.3% |
| Capex / depreciation | 0.44 | 0.36 | 0.41 | 0.42 | 0.90 | 1.06 | 1.38 | 1.35 | 1.20 | 1.29 |
| Stock-based compensation / revenue | 2.5% | 2.0% | 1.8% | 1.6% | 2.1% | 1.9% | 1.7% | 1.7% | 1.5% | 4.0% |
| R&D / revenue | 3.9% | 3.7% | 3.8% | 4.1% | 3.6% | 3.4% | 3.8% | 3.8% | 4.0% | 3.4% |
| SG&A / revenue | 28.0% | 26.8% | 26.9% | 26.7% | 23.0% | 22.3% | 21.9% | 23.5% | 23.5% | 23.6% |
| Efficiency | ||||||||||
| Days sales outstanding | 31.4 | 29.5 | 34.7 | 29.8 | 35.0 | 47.4 | 57.5 | 45.0 | 29.4 | 56.3 |
| Days of inventory on hand | 155.3 | 151.7 | 168.8 | 113.8 | 133.9 | 147.1 | 149.1 | 131.9 | 71.2 | 95.3 |
| Days payables outstanding | 39.1 | 34.9 | 44.0 | 34.3 | 33.9 | 45.2 | 57.2 | 43.7 | 19.6 | 29.0 |
| Cash conversion cycle (days) | 147.6 | 146.2 | 159.5 | 109.2 | 135.1 | 149.3 | 149.3 | 133.2 | 81.0 | 122.5 |
| Receivables turnover | 11.64 | 12.38 | 10.53 | 12.27 | 10.42 | 7.70 | 6.35 | 8.10 | 12.42 | 6.49 |
| Payables turnover | 9.33 | 10.45 | 8.30 | 10.65 | 10.78 | 8.08 | 6.38 | 8.35 | 18.66 | 12.57 |
| Inventory turnover | 2.35 | 2.41 | 2.16 | 3.21 | 2.73 | 2.48 | 2.45 | 2.77 | 5.13 | 3.83 |
| Asset turnover | 0.54 | 0.56 | 0.51 | 0.71 | 0.72 | 0.74 | 0.77 | 0.91 | 1.17 | 0.57 |
| Average receivables | $191.6M | $192.4M | $214.5M | $185.9M | $126.3M | $165.0M | $199.3M | $172.8M | $104.1M | $58.5M |
| Average payables | $151.2M | $149.0M | $183.0M | $148.5M | $76.5M | $100.2M | $124.5M | $99.3M | $46.4M | $14.2M |
| Average inventory | $600.3M | $647.0M | $702.7M | $493.1M | $302.6M | $326.3M | $324.4M | $299.9M | $169.0M | $46.4M |
| Intangibles / total assets | 52.7% | 51.7% | 53.5% | 53.9% | 12.3% | 13.1% | 14.3% | 9.1% | 10.4% | 4.0% |
Computed from ICUI's annual financial statements (latest annual report filed February 19, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
ICUI valuation and financial ratios
Based on the latest twelve months, the trailing P/E is 137.0 and the forward P/E is 16.9. ICU Medical earned a return on equity of 0.0% and a return on invested capital of 1.6% in fiscal 2025. It ended the year with $1.4 billion of debt and $308.0 million in cash and short-term investments, net debt of $1.1 billion. It returned $8.8 million to shareholders: $0 in dividends and $8.8 million in share buybacks, 10% of free cash flow. The share count rose 44.3% from 17.3M to 24.9M over 9 years.
See the ICUI income statement, the ICUI chart for price history, or the ICUI stock overview for the latest quote and news.
ICUI key metrics FAQ
What is ICU Medical's P/E ratio?
ICU Medical's trailing P/E ratio is 137.0 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 16.9. At the end of fiscal 2025 it was —, compared with a 10-year median of 51.7.
What is ICU Medical's EV/EBITDA?
ICU Medical's enterprise value was 15.0 times EBITDA at the end of fiscal 2025 (enterprise value $4.6 billion, EBITDA $309.3 million); the current EV/EBITDA is 17.6.
What is ICU Medical's return on equity?
ICU Medical's return on equity (ROE) was 0.0% in fiscal 2025: net income of $0.7 million on average shareholders' equity of $2.0 billion.
What is ICU Medical's ROIC?
ICU Medical's return on invested capital was 1.6% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does ICU Medical have?
ICU Medical had total debt of $1.4 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.66 and $1.1 billion of net debt (3.51 times EBITDA).
Does ICU Medical buy back its shares?
Yes. ICU Medical spent $8.8 million on net share repurchases in fiscal 2025 Shares outstanding changed +2.1% over the year, to 24.9M..
What is ICU Medical's free cash flow yield?
ICU Medical generated $91.8 million of free cash flow in fiscal 2025, a free cash flow yield of 2.6% on its market value at year-end ($3.6 billion).
What is ICU Medical's current ratio?
ICU Medical's current ratio was 2.36 at the end of fiscal 2025: current assets were 2.36 times current liabilities.