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ICU MEDICAL INC (ICUI) Stock Fundamental Analysis

USA - Nasdaq - NASDAQ:ICUI - US44930G1076 - Common Stock

144.04 USD
-2.62 (-1.79%)
Last: 12/3/2025, 8:00:02 PM
144.51 USD
+0.47 (+0.33%)
Pre-Market: 12/4/2025, 4:14:13 AM
Fundamental Rating

4

Overall ICUI gets a fundamental rating of 4 out of 10. We evaluated ICUI against 188 industry peers in the Health Care Equipment & Supplies industry. ICUI has an average financial health and profitability rating. ICUI is not valued too expensively and it also shows a decent 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.
ICUI had a positive operating cash flow in 4 of the past 5 years.
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

With a decent Return On Assets value of -0.18%, ICUI is doing good in the industry, outperforming 72.34% of the companies in the same industry.
ICUI has a better Return On Equity (-0.35%) than 72.87% of its industry peers.
ICUI has a better Return On Invested Capital (2.86%) than 70.74% of its industry peers.
The Average Return On Invested Capital over the past 3 years for ICUI is significantly below the industry average of 8.78%.
The 3 year average ROIC (1.36%) for ICUI is below the current ROIC(2.86%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA -0.18%
ROE -0.35%
ROIC 2.86%
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

The Operating Margin of ICUI (5.63%) is better than 70.74% of its industry peers.
In the last couple of years the Operating Margin of ICUI has declined.
ICUI has a worse Gross Margin (36.47%) than 70.21% of its industry peers.
In the last couple of years the Gross Margin of ICUI has remained more or less at the same level.
Industry RankSector Rank
OM 5.63%
PM (TTM) N/A
GM 36.47%
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

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so ICUI is destroying value.
ICUI has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, ICUI has more shares outstanding
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

ICUI has an Altman-Z score of 2.20. This is not the best score and indicates that ICUI is in the grey zone with still only limited risk for bankruptcy at the moment.
ICUI's Altman-Z score of 2.20 is fine compared to the rest of the industry. ICUI outperforms 62.77% of its industry peers.
The Debt to FCF ratio of ICUI is 21.21, which is on the high side as it means it would take ICUI, 21.21 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 21.21, ICUI is in the better half of the industry, outperforming 69.15% of the companies in the same industry.
A Debt/Equity ratio of 0.62 indicates that ICUI is somewhat dependend on debt financing.
The Debt to Equity ratio of ICUI (0.62) is worse than 63.83% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.62
Debt/FCF 21.21
Altman-Z 2.2
ROIC/WACC0.38
WACC7.54%
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

ICUI has a Current Ratio of 2.45. This indicates that ICUI is financially healthy and has no problem in meeting its short term obligations.
The Current ratio of ICUI (2.45) is comparable to the rest of the industry.
A Quick Ratio of 1.19 indicates that ICUI should not have too much problems paying its short term obligations.
The Quick ratio of ICUI (1.19) is worse than 68.62% of its industry peers.
Industry RankSector Rank
Current Ratio 2.45
Quick Ratio 1.19
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

ICUI shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 40.14%, which is quite impressive.
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 decrease in Revenue. The Revenue has decreased by -0.84% in the last year.
The Revenue has been growing by 13.47% on average over the past years. This is quite good.
EPS 1Y (TTM)40.14%
EPS 3Y-5.58%
EPS 5Y-5.28%
EPS Q2Q%27.67%
Revenue 1Y (TTM)-0.84%
Revenue growth 3Y21.86%
Revenue growth 5Y13.47%
Sales Q2Q%-8.85%

3.2 Future

ICUI is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 14.56% yearly.
The Revenue is expected to grow by 2.95% on average over the next years.
EPS Next Y14.6%
EPS Next 2Y14.9%
EPS Next 3Y15.92%
EPS Next 5Y14.56%
Revenue Next Year-5.53%
Revenue Next 2Y-3.44%
Revenue Next 3Y-0.82%
Revenue Next 5Y2.95%

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
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

Based on the Price/Earnings ratio of 18.10, the valuation of ICUI can be described as rather expensive.
84.04% of the companies in the same industry are more expensive than ICUI, based on the Price/Earnings ratio.
When comparing the Price/Earnings ratio of ICUI to the average of the S&P500 Index (26.37), we can say ICUI is valued slightly cheaper.
With a Price/Forward Earnings ratio of 17.54, ICUI is valued on the expensive side.
Based on the Price/Forward Earnings ratio, ICUI is valued cheaply inside the industry as 81.91% of the companies are valued more expensively.
ICUI is valuated cheaply when we compare the Price/Forward Earnings ratio to 36.20, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 18.1
Fwd PE 17.54
ICUI Price Earnings VS Forward Price EarningsICUI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

84.04% 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 72.87% of the companies in the same industry.
Industry RankSector Rank
P/FCF 57.14
EV/EBITDA 13.72
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)1.24
PEG (5Y)N/A
EPS Next 2Y14.9%
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 (12/3/2025, 8:00:02 PM)

Premarket: 144.51 +0.47 (+0.33%)

144.04

-2.62 (-1.79%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)11-06 2025-11-06/amc
Earnings (Next)02-25 2026-02-25/amc
Inst Owners113.8%
Inst Owner Change3.93%
Ins Owners0.98%
Ins Owner Change-1.93%
Market Cap3.56B
Revenue(TTM)2.32B
Net Income(TTM)-7.36M
Analysts83.33
Price Target185.03 (28.46%)
Short Float %5.5%
Short Ratio4.93
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)38.05%
Min EPS beat(2)37.25%
Max EPS beat(2)38.85%
EPS beat(4)4
Avg EPS beat(4)36.86%
Min EPS beat(4)31.74%
Max EPS beat(4)39.58%
EPS beat(8)8
Avg EPS beat(8)33.65%
EPS beat(12)12
Avg EPS beat(12)26.3%
EPS beat(16)15
Avg EPS beat(16)20.15%
Revenue beat(2)1
Avg Revenue beat(2)0.69%
Min Revenue beat(2)-1.77%
Max Revenue beat(2)3.14%
Revenue beat(4)3
Avg Revenue beat(4)1.65%
Min Revenue beat(4)-1.77%
Max Revenue beat(4)3.14%
Revenue beat(8)6
Avg Revenue beat(8)1.04%
Revenue beat(12)6
Avg Revenue beat(12)-0.86%
Revenue beat(16)8
Avg Revenue beat(16)-0.49%
PT rev (1m)2.02%
PT rev (3m)2.95%
EPS NQ rev (1m)-0.97%
EPS NQ rev (3m)-0.97%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)0.27%
Revenue NQ rev (3m)0.27%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 18.1
Fwd PE 17.54
P/S 1.53
P/FCF 57.14
P/OCF 22.31
P/B 1.67
P/tB N/A
EV/EBITDA 13.72
EPS(TTM)7.96
EY5.53%
EPS(NY)8.21
Fwd EY5.7%
FCF(TTM)2.52
FCFY1.75%
OCF(TTM)6.46
OCFY4.48%
SpS93.98
BVpS86.16
TBVpS-1.47
PEG (NY)1.24
PEG (5Y)N/A
Graham Number124.22
Profitability
Industry RankSector Rank
ROA -0.18%
ROE -0.35%
ROCE 3.62%
ROIC 2.86%
ROICexc 3.12%
ROICexgc 9.01%
OM 5.63%
PM (TTM) N/A
GM 36.47%
FCFM 2.68%
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%
ROICexgc growth 3Y-18.09%
ROICexgc 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 Turnover0.57
Health
Industry RankSector Rank
Debt/Equity 0.62
Debt/FCF 21.21
Debt/EBITDA 3.95
Cap/Depr 47.91%
Cap/Sales 4.19%
Interest Coverage 250
Cash Conversion 47.79%
Profit Quality N/A
Current Ratio 2.45
Quick Ratio 1.19
Altman-Z 2.2
F-Score7
WACC7.54%
ROIC/WACC0.38
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)40.14%
EPS 3Y-5.58%
EPS 5Y-5.28%
EPS Q2Q%27.67%
EPS Next Y14.6%
EPS Next 2Y14.9%
EPS Next 3Y15.92%
EPS Next 5Y14.56%
Revenue 1Y (TTM)-0.84%
Revenue growth 3Y21.86%
Revenue growth 5Y13.47%
Sales Q2Q%-8.85%
Revenue Next Year-5.53%
Revenue Next 2Y-3.44%
Revenue Next 3Y-0.82%
Revenue Next 5Y2.95%
EBIT growth 1Y142.55%
EBIT growth 3Y-10.08%
EBIT growth 5Y-11.9%
EBIT Next Year37.73%
EBIT Next 3Y15.54%
EBIT Next 5Y17.88%
FCF growth 1Y597.89%
FCF growth 3Y-15.14%
FCF growth 5YN/A
OCF growth 1Y117.81%
OCF growth 3Y-8.63%
OCF growth 5Y14.9%

ICU MEDICAL INC / ICUI FAQ

What is the ChartMill fundamental rating of ICU MEDICAL INC (ICUI) stock?

ChartMill assigns a fundamental rating of 4 / 10 to ICUI.


What is the valuation status of ICU MEDICAL INC (ICUI) stock?

ChartMill assigns a valuation rating of 6 / 10 to ICU MEDICAL INC (ICUI). This can be considered as Fairly Valued.


How profitable is ICU MEDICAL INC (ICUI) stock?

ICU MEDICAL INC (ICUI) has a profitability rating of 4 / 10.


What is the expected EPS growth for ICU MEDICAL INC (ICUI) stock?

The Earnings per Share (EPS) of ICU MEDICAL INC (ICUI) is expected to grow by 14.6% in the next year.