RMD
RESMED INCEvidence as of 2026-09-03Overview · RESMED INC
ResMed Inc. develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic pr…
Management team
- Mr. Kaushik Ghoshal · Chief Commercial Officer - SaaSFind on LinkedIn
- Mr. Alastair Robertson · Chief Information OfficerFind on LinkedIn
- Mr. Justin Leong · Chief Product OfficerFind on LinkedIn
- Mr. Michael J. Rider · Chief Legal Officer & SecretaryFind on LinkedIn
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Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it — not a rating or a recommendation.
+0.2 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled — the rest of the page is the evidence behind it.
Mixed evidence (+ 0.2 of a possible + 2; confidence high). Revenue grew from $ 1,335,582,000 for the three months ended 2025-09-30 to $ 1,422,808,000 for the three months ended 2025-12-31 and to $ 1,431,406,000 for the three months ended 2026-03-31, with sequential increases of + $ 87,226,000 then + $ 8,598,000 — growth continued but the quarter-to-quarter increase slowed. Gross profit rose across the same sequence (from $ 820,835,000 to $ 878,724,000 to $ 890,979,000) and gross margin expanded modestly from 61.5% to 61.8% to 62.3%; diluted EPS also moved higher from $ 2.37 to $ 2.68 to $ 2.74.
Outstanding common shares show a gradual decline across point-in-time checks (146,414,839 as of 2025-08-04 down to 144,252,306 as of 2026-08-10), and long-term debt fell from $ 658,392,000 as of 2025-06-30 to $ 399,415,000 as of 2026-06-30. Filings note a change in auditors (KPMG dismissed effective 2026-08-13; PwC appointed subject to acceptance) but KPMG’s prior reports for fiscal years ended June 30, 2026 and 2025 contained no adverse or qualified opinions and no reportable disagreements. Market signals are mixed: three-month momentum is + 23.8% while six-month and twelve-month momentum are negative, volatility is elevated (90‑day annualized + 36.4%), and valuation ratios include P/FCF 33.85, EV/EBITDA 15.61, and P/E 22.48 with implied FCF growth at 22.31%.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else — no outside knowledge, no browsing — so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC — revenue, margins, income, debt and share count, quarter by quarter — and reports which way the trend is running.
Revenue for the fiscal quarter 2025-07-01 to 2025-09-30 (3mo) was $1,335,582,000.
XBRL companyfacts · 0000943819-25-000090Revenue for the fiscal quarter 2025-10-01 to 2025-12-31 (3mo) was $1,422,808,000.
XBRL companyfacts · 0000943819-26-000007Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full — its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet — its risk analysis fills in once that lands.
KPMG LLP was dismissed as ResMed Inc.'s principal accountants, effective August 13, 2026.
8-K filed 2026-08-17The reports of KPMG on ResMed's consolidated financial statements for the fiscal years ended June 30, 2026 and 2025 did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles.
8-K filed 2026-08-17Reads the signal panel above — momentum, volatility, drawdown, relative strength and beta — and ranks each against the whole research universe rather than judging it in isolation.
Three-month momentum is +23.8% as of 2026-09-02 while six-month momentum is -10.6%, showing a short-term gain but intermediate-term loss in price momentum.
Moneyta signal set · 2026-09-02Twelve-month momentum (12_1) is -19.3% and the 12-month relative strength vs SPY is -34.7%, with rank_momentum_12_1 at the 15th percentile of the 547-stock universe on 2026-09-02.
Moneyta signal set · 2026-09-02Reads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
As of 2026-09-02T13:45:47.228469+00:00 the record shows membership in the ETF with symbol IVV at a weight of 0.04% of that fund.
ETF constituents · market dataThe provided evidence contains a single ETF membership record for the company (the IVV entry) with no additional ETF weights shown.
ETF constituents · market dataReads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
No recent headlines in the news feed.
Reads parsed Forms 3/4/5 — who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
No insider transactions on file in the trailing 180 days.
Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
The model reports the implied free cash flow (FCF) growth rate that today's price would justify as 22.31% (implied_growth = 0.2231).
Valuation inputs · SEC XBRL + stored EOD closePrice-to-free-cash-flow (P/FCF) on a trailing-twelve-month basis is 33.85.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score — the argument is shown, not hidden, so you can judge the reasoning yourself.
The evidence shows sequential revenue growth across the three most recent quarters with modest deceleration in the quarter-to-quarter increase, concurrent gross-profit expansion and rising gross margins, and increasing diluted EPS — all consistent with improving operational profitability. Outstanding shares declined steadily over the period while long-term debt fell from mid-2025 to mid-2026, supporting an interpretation of share count reduction and balance-sheet deleveraging occurring alongside rising trailing free cash flow per share. Market-signal items that could be read negatively (recent price drawdown, elevated short-term volatility, and weak 12-month momentum) are observable market outcomes; however, the company’s low beta and low correlation with the SPY indicate lower sensitivity to broad-market moves, and the auditor reports for fiscal years 2025–2026 contain no qualifications or disagreements. Taken together, these claims jointly support a favorable read on the company’s recent operating and cash-generation profile, while the valuation-model outputs and price momentum signals reflect market pricing and model assumptions rather than contradictions of the underlying fundamentals.
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.44
29 surviving claims rest on 9 distinct sources; the heaviest analyst carries 31% of them, and 100% of what the desk raised survived the debate.
The surviving read is moderately robust: 29 claims draw on nine distinct sources and all desk questions survived review, which raises confidence in the set. However, a single analyst accounts for nearly one-third of the claims and several key points rely on a small number of filings, so source concentration and analyst dependence make portions of the read more fragile than the raw survival rate suggests.
Peer context · computed, not argued
12-1 momentum ranks 5th of 6 in Medical Instruments & Supplies (as of 2026-09-02).
6-month relative strength ranks 4th of 6 in Medical Instruments & Supplies (as of 2026-09-02).
90-day volatility ranks 3rd of 6 in Medical Instruments & Supplies (as of 2026-09-02).
dividend yield ranks 2nd of 6 in Medical Instruments & Supplies (as of 2026-09-02).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment — when the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here — no outside knowledge, no browsing — and each card shows who read it and what it contributed to the score.
10 filings· 2 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data — not retyped or estimated.
Read by Mercer+0.8 to the score
3 documents· 2 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes+0.3 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash−0.3 to the score
1 holdings record
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.0 to the score
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only — it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal — the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
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The full terminal on RMD Gold
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Institutional holders
Net institutional flow, Q/Q
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Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations.