CluenexResMed RMD
ResMed scores excellent on business quality (7.9 of 10). Here is why, in plain words, and what our sealed record shows.
Why it matters
- What ResMed does
ResMed sells cloud-connected medical devices and software to treat sleep apnea, generating revenue primarily from recurring device sales and masks paid by patients, insurers, and health systems. The company is scaling its digital health ecosystem to manage chronic respiratory conditions globally.
- What it does best
ResMed dominates sleep apnea hardware and cloud software with an operating margin of 33.9%, beating peer BDX at 16.3%. This edge stems from proprietary algorithms and entrenched patient data loops that are difficult for competitors to replicate.
- The main risk
The primary threat is competitive pressure from emerging alternative treatments like GLP-1 weight loss drugs, which could reduce the long-term patient pool for sleep apnea devices and depress volume growth.
Quality, check by check
Scored against its own industry, from company filings.
Operating margins sit at 33.9% and FCF margin at 28.8%, both expanding as software integration and manufacturing scale drive higher returns on equity of 23.9%.
ResMed secures sleep clinics, doctors, and patients through an integrated cloud ecosystem, backed by an operating margin ranking in the top decile of its sector at the 88th percentile.
Revenue grew 9.9% to $5.7B over the past year, reflecting steady demand for core respiratory devices even as growth rates normalize from post-pandemic highs.
ResMed holds a net cash position of $810M against a low debt-to-equity ratio of 0.1, backed by $1.6B in free cash flow, indicating a fortress balance sheet getting steadily stronger.
Insiders
Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.
No open market buys or unplanned sales by executives or directors.
Our sealed record on RMD
Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.
The first sealed verdicts appear here on Oct 11, 2026.
Questions
ResMed scores excellent on the Cluenex quality check (7.9 of 10), measured against its own industry. Profitability is strong, moat strong, growth steady and financial health strong.
In the last 90 days of SEC Form 4 filings: No open market buys or unplanned sales by executives or directors.
Oct 29, 2026.
See RMD today
- Today's verdict on RMD, and why
- Fair value with cautious, base and optimistic cases
- The exact price that would change the verdict
- Which stocks each signal names, the night it fires
Cite this page: Cluenex, “ResMed (RMD)”, https://cluenex.com/stocks/rmd/, data as of Oct 10, 2026.