MASI · Masimo Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $1.53B | $2.09B | $2.05B | $1.14B | $1.24B | $1.14B |
| Cost of Revenue | $581.70M | $1.09B | $1.04B | $977.00M | $430.81M | $400.68M |
| Gross Profit | $945.20M | $1.00B | $1.00B | $1.06B | $808.35M | $743.07M |
| R&D | $126.40M | $222.80M | $175.20M | $191.40M | $137.23M | $118.66M |
| SG&A | $506.00M | $743.80M | $664.00M | $657.40M | $395.29M | $369.06M |
| Total Operating Expenses | $635.20M | $1.27B | $867.00M | $848.80M | $532.52M | $487.24M |
| D&A | $38.80M | $103.00M | $98.30M | $136.10M | $35.62M | $29.30M |
| Operating Income | $310.00M | ($266.70M) | $136.50M | $210.00M | $275.82M | $255.82M |
| Interest Expense | $33.20M | $25.70M | $50.30M | $25.70M | $355.0K | $338.0K |
| Income Tax | $64.90M | ($400.0K) | $6.60M | $49.90M | $44.73M | $23.45M |
| Net Income | ($151.50M) | ($304.90M) | $143.50M | $143.50M | $229.65M | $240.30M |
| EPS - Basic | ($2.83) | ($5.72) | $1.54 | $2.68 | $4.16 | $4.39 |
| EPS - Diluted | ($2.80) | ($5.72) | $1.51 | $2.60 | $3.98 | $4.14 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $152.30M | $177.60M | $163.00M | $202.90M | $745.25M | $641.45M |
| Accounts Receivable | $283.20M | - | $355.50M | - | - | - |
| Inventory | $380.30M | $459.20M | $545.00M | $501.00M | $201.37M | $215.95M |
| Accounts Payable | $103.00M | $252.80M | $251.50M | $276.80M | $75.63M | $64.06M |
| Current Assets | $926.00M | $1.23B | $1.23B | $1.31B | $1.24B | $1.10B |
| Total Assets | $1.70B | $2.63B | $3.04B | $3.21B | $1.89B | $1.71B |
| Current Liabilities | $371.60M | $617.70M | $563.80M | $630.00M | $267.74M | $233.84M |
| Long-term Debt | $518.00M | $727.90M | $871.70M | $941.60M | - | - |
| Total Liabilities | $977.70M | $1.57B | $1.68B | $1.87B | $336.76M | $304.91M |
| Stockholders' Equity | $721.20M | $1.05B | $1.36B | $1.34B | $1.55B | $1.41B |
| Retained Earnings | $1.34B | $1.49B | $1.80B | $1.71B | $1.57B | $1.34B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $217.80M | $196.40M | $94.10M | $29.40M | $264.75M | $210.96M |
| Investing Cash Flow | $275.10M | ($51.20M) | ($81.20M) | ($1.06B) | ($37.53M) | ($82.79M) |
| Financing Cash Flow | ($520.70M) | ($125.60M) | ($57.10M) | $520.40M | ($122.40M) | ($54.31M) |
| CapEx | $19.40M | $20.00M | $44.00M | $52.80M | $25.50M | $72.55M |
| Free Cash Flow | $198.40M | $176.40M | $50.10M | ($23.40M) | $239.25M | $138.41M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 61.9% | 48.0% | 49.0% | 92.6% | 65.2% | 65.0% |
| Operating margin | 20.3% | -12.7% | 6.7% | 18.4% | 22.3% | 22.4% |
| EBITDA margin | 22.8% | -7.8% | 11.5% | 30.3% | 25.1% | 24.9% |
| Net margin | -9.9% | -14.6% | 7.0% | 12.5% | 18.5% | 21.0% |
| Free cash flow margin | 13.0% | 8.4% | 2.4% | -2.0% | 19.3% | 12.1% |
| FCF / Net income | -1.31 | -0.58 | 0.35 | -0.16 | 1.04 | 0.58 |
| R&D / Revenue | 8.3% | 10.6% | 8.6% | 16.7% | 11.1% | 10.4% |
| SG&A / Revenue | 33.1% | 35.5% | 32.4% | 57.5% | 31.9% | 32.3% |
| Effective tax rate | - | - | 4.4% | 25.8% | 16.3% | 8.9% |
| Return on assets | -8.9% | -11.6% | 4.7% | 4.5% | 12.2% | 14.0% |
| Return on equity | -21.0% | -29.0% | 10.5% | 10.7% | 14.8% | 17.1% |
| Return on invested capital | 19.8% | -11.8% | 5.8% | 6.8% | - | - |
| Liquidity | ||||||
| Current ratio | 2.49 | 1.98 | 2.18 | 2.08 | 4.63 | 4.71 |
| Quick ratio | 1.47 | 1.24 | 1.22 | 1.28 | 3.87 | 3.79 |
| Cash ratio | 0.41 | 0.29 | 0.29 | 0.32 | 2.78 | 2.74 |
| Leverage | ||||||
| Debt / Equity | 0.72 | 0.69 | 0.64 | 0.70 | - | - |
| Debt / Assets | 0.30 | 0.28 | 0.29 | 0.29 | - | - |
| Debt / EBITDA | 1.49 | - | 3.71 | 2.72 | - | - |
| Interest coverage | 9.3x | -10.4x | 2.7x | 8.2x | 777.0x | 756.9x |
| Equity multiplier | 2.36 | 2.50 | 2.23 | 2.40 | 1.22 | 1.22 |
| Liabilities / Assets | 0.58 | 0.60 | 0.55 | 0.58 | 0.18 | 0.18 |
| Efficiency | ||||||
| Asset turnover | 0.90 | 0.80 | 0.67 | 0.36 | 0.66 | 0.67 |
| Inventory turnover | 1.53 | 2.37 | 1.92 | 1.95 | 2.14 | 1.86 |
| Days sales outstanding | 68d | - | 63d | - | - | - |
| Days inventory outstanding | 239d | 154d | 190d | 187d | 171d | 197d |
| Days payable outstanding | 65d | 85d | 88d | 103d | 64d | 58d |
| Cash conversion cycle | 242d | - | 166d | - | - | - |
| Valuation | ||||||
| P / E | - | - | 77.6x | 56.9x | 73.6x | 64.8x |
| P / B | 9.6x | 8.4x | 4.6x | 6.1x | 10.9x | 11.1x |
| P / S | 4.5x | 4.2x | 3.1x | 7.1x | 13.6x | 13.6x |
| EV / EBITDA | 20.8x | - | 30.0x | 25.7x | 51.8x | 52.4x |
| Growth | ||||||
| Revenue growth (YoY) | -27.1% | 2.3% | 79.1% | -7.7% | 8.3% | 22.0% |
| Revenue CAGR (3y) | 10.1% | 19.1% | 21.4% | 6.8% | 13.0% | 12.7% |
| Revenue CAGR (5y) | 5.9% | 17.4% | 19.0% | 7.5% | 12.3% | 12.7% |
| Gross profit growth (YoY) | -5.9% | 0.1% | -5.2% | 31.0% | 8.8% | 18.1% |
| Operating income growth (YoY) | - | - | -35.0% | -23.9% | 7.8% | 15.6% |
| Net income growth (YoY) | 50.3% | - | 0.0% | -37.5% | -4.4% | 22.5% |
| EPS growth (YoY) | 51.0% | - | -41.9% | -34.7% | -3.9% | 20.3% |
| EPS CAGR (3y) | - | - | -28.6% | -8.9% | 4.9% | 20.6% |
| EPS CAGR (5y) | - | - | -15.2% | 2.0% | -6.8% | 21.7% |
| FCF growth (YoY) | 12.5% | 252.1% | - | - | 72.9% | -9.7% |
| FCF CAGR (5y) | 7.5% | 2.9% | -25.8% | - | -9.6% | 16.7% |
| Book value growth (YoY) | -31.4% | -22.9% | 1.9% | -13.6% | 10.1% | 20.5% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2026-01-03.
Business segments
$1.52B totalHealth Care Segment$1.52B · 100.0%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
2.68
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
7/9
Strong
- ✗Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✓Current ratio improved
- ✗No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Electromedical & Electrotherapeutic Apparatus
Comparing MASIMO CORP against the 5 most active filers in the same SIC group.
Dividends
$0.00/share trailing 12 months
| Ex-date | Per share |
|---|---|
| Nov 23, 2012 | $1.0000 |
| Dec 3, 2010 | $0.7500 |
| Mar 9, 2010 | $2.0000 |