NASDAQ : MASI
Masimo Corporation — Financial statements
Healthcare · Medical Devices · United States
Last price 179.95 USD (At close: Jun 9, 2026) · Market cap 9.42B
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Financial statements
Masimo Corporation (MASI) reported revenue of 1.56B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year February - January; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.56B | 1.53B | 1.40B | 1.28B | 2.04B | 1.24B |
| Cost of Revenue | 598.00M | 583.20M | 586.10M | 505.00M | 977.00M | 430.80M |
| Gross Profit | 960.50M | 943.70M | 809.10M | 770.50M | 1.06B | 808.40M |
| Selling, General & Admin | 516.90M | 510.80M | 517.60M | 451.30M | 640.80M | 395.40M |
| Research & Development | 122.50M | 126.40M | 146.20M | 130.50M | 191.40M | 137.20M |
| Operating Expenses | 639.40M | 637.20M | 663.80M | 581.80M | 832.20M | 532.60M |
| Operating Income | 321.10M | 306.50M | 145.30M | 188.70M | 226.60M | 275.80M |
| Interest Expense | -30.50M | -33.20M | -41.20M | -47.10M | -25.70M | -300.00K |
| Interest & Investment Income | 2.90M | 3.40M | 4.40M | 2.90M | 1.80M | 900.00K |
| Currency Exchange Gain (Loss) | -6.30M | -7.60M | -4.40M | -8.80M | 7.30M | -2.00M |
| EBT Excluding Unusual Items | 287.20M | 269.10M | 104.10M | 135.70M | 210.00M | 274.40M |
| Merger & Restructuring Charges | -16.40M | 1.50M | -81.80M | -4.90M | -16.60M | |
| Legal Settlements | -100.00K | -2.80M | -500.00K | -17.80M | ||
| Pretax Income | 275.50M | 272.60M | 21.80M | 113.00M | 193.40M | 274.40M |
| Income Tax Expense | 58.70M | 64.90M | 5.60M | 5.30M | 49.90M | 44.80M |
| Earnings From Continuing Operations | 216.80M | 207.70M | 16.20M | 107.70M | 143.50M | 229.60M |
| Earnings From Discontinued Operations | -140.50M | -359.20M | -321.10M | -26.20M | ||
| Net Income to Company | 76.30M | -151.50M | -304.90M | 81.50M | 143.50M | 229.60M |
| Net Income | 76.30M | -151.50M | -304.90M | 81.50M | 143.50M | 229.60M |
| Net Income to Common | 76.30M | -151.50M | -304.90M | 81.50M | 143.50M | 229.60M |
| Shares Outstanding (Basic) | 53.15M | 53.60M | 53.30M | 52.80M | 53.60M | 55.20M |
| Shares Outstanding (Diluted) | 53.65M | 54.20M | 54.40M | 54.10M | 55.20M | 57.70M |
| EPS (Basic) | 1.44 | -2.83 | -5.72 | 1.54 | 2.68 | 4.16 |
| EPS (Diluted) | 1.42 | -2.80 | -5.60 | 1.51 | 2.60 | 3.98 |
| Free Cash Flow | 210.90M | 198.40M | 175.30M | 55.70M | -23.40M | 239.10M |
| Free Cash Flow Per Share | 3.93 | 3.66 | 3.22 | 1.03 | -0.42 | 4.14 |
| Gross Margin | 61.63% | 61.80% | 57.99% | 60.41% | 52.01% | 65.24% |
| Operating Margin | 20.60% | 20.07% | 10.41% | 14.79% | 11.13% | 22.26% |
| Profit Margin | 4.90% | -9.92% | -21.85% | 6.39% | 7.05% | 18.53% |
| Free Cash Flow Margin | 13.53% | 12.99% | 12.57% | 4.37% | -1.15% | 19.30% |
| EBITDA | 367.70M | 345.30M | 193.80M | 227.60M | 362.70M | 310.90M |
| EBITDA Margin | 23.59% | 22.61% | 13.89% | 17.84% | 17.82% | 25.09% |
| D&A For EBITDA | 46.60M | 38.80M | 48.50M | 38.90M | 136.10M | 35.10M |
| EBIT | 321.10M | 306.50M | 145.30M | 188.70M | 226.60M | 275.80M |
| EBIT Margin | 20.60% | 20.07% | 10.41% | 14.79% | 11.13% | 22.26% |
| Effective Tax Rate | 21.31% | 23.81% | 25.69% | 4.69% | 25.80% | 16.33% |
| Revenue as Reported | 1.56B | 1.53B | 1.40B | 1.28B | 2.04B | |
| Advertising Expenses | 9.00M |
Balance sheet
Fiscal year February - January; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 124.60M | 152.30M | 123.60M | 163.00M | 202.90M | 745.30M |
| Cash & Short-Term Investments | 124.60M | 152.30M | 123.60M | 163.00M | 202.90M | 745.30M |
| Accounts Receivable | 258.50M | 291.70M | 306.90M | 385.10M | 478.30M | 231.60M |
| Other Receivables | 30.40M | 35.80M | 32.80M | 35.90M | 26.80M | 12.80M |
| Receivables | 288.90M | 327.50M | 339.70M | 421.00M | 505.10M | 244.40M |
| Inventory | 400.00M | 380.30M | 294.80M | 545.00M | 501.00M | 201.40M |
| Prepaid Expenses | 42.10M | 45.90M | 24.30M | 63.10M | 81.20M | 33.70M |
| Restricted Cash | 2.70M | 3.00M | 2.40M | 3.00M | ||
| Other Current Assets | 14.90M | 20.00M | 440.70M | 36.80M | 16.00M | 10.70M |
| Total Current Assets | 870.50M | 926.00M | 1.23B | 1.23B | 1.31B | 1.24B |
| Property, Plant & Equipment | 387.20M | 387.70M | 366.20M | 483.50M | 472.10M | 303.30M |
| Long-Term Investments | 4.80M | 5.90M | 8.60M | 9.90M | 13.80M | 13.80M |
| Goodwill | 100.90M | 101.00M | 96.70M | 407.70M | 445.40M | 100.30M |
| Other Intangible Assets | 51.00M | 52.10M | 61.60M | 652.30M | 722.60M | 72.50M |
| Long-Term Accounts Receivable | 67.20M | 64.40M | 78.90M | 88.40M | 82.50M | 78.60M |
| Long-Term Deferred Tax Assets | 114.10M | 114.20M | 118.40M | 107.20M | 102.50M | 52.60M |
| Long-Term Deferred Charges | 26.10M | 26.20M | 25.00M | 21.80M | 17.10M | 11.90M |
| Other Long-Term Assets | 20.90M | 21.40M | 644.50M | 38.80M | 46.00M | 15.50M |
| Total Assets | 1.64B | 1.70B | 2.63B | 3.04B | 3.21B | 1.89B |
| Accounts Payable | 89.00M | 103.00M | 129.00M | 251.50M | 276.80M | 75.60M |
| Accrued Expenses | 135.10M | 179.50M | 158.40M | 170.40M | 219.40M | 125.40M |
| Current Portion of Long-Term Debt | 6.30M | 6.30M | 15.00M | 34.30M | 15.10M | |
| Current Portion of Leases | 8.20M | 8.10M | 9.70M | 18.20M | 18.70M | 6.40M |
| Current Income Taxes Payable | 24.50M | 16.70M | 12.40M | 16.10M | 32.10M | 12.00M |
| Current Unearned Revenue | 37.10M | 38.50M | 43.80M | 37.40M | 36.00M | 29.90M |
| Other Current Liabilities | 25.20M | 19.50M | 249.40M | 35.90M | 31.90M | 18.40M |
| Total Current Liabilities | 325.40M | 371.60M | 617.70M | 563.80M | 630.00M | 267.70M |
| Long-Term Debt | 445.70M | 518.00M | 714.30M | 871.70M | 941.60M | |
| Long-Term Leases | 25.70M | 26.90M | 23.30M | 45.80M | 53.40M | 26.30M |
| Long-Term Unearned Revenue | 22.50M | 23.00M | 18.10M | 26.40M | 25.00M | 5.20M |
| Pension & Post-Retirement Benefits | 5.70M | 5.50M | 5.40M | 9.50M | 10.10M | |
| Long-Term Deferred Tax Liabilities | 400.00K | 200.00K | 200.00K | 111.70M | 163.60M | 5.10M |
| Other Long-Term Liabilities | 28.40M | 32.50M | 194.80M | 47.80M | 48.00M | 32.50M |
| Total Liabilities | 853.80M | 977.70M | 1.57B | 1.68B | 1.87B | 336.80M |
| Common Stock | 100.00K | 100.00K | 100.00K | 100.00K | 100.00K | 100.00K |
| Additional Paid-In Capital | 940.40M | 929.10M | 838.30M | 783.40M | 782.20M | 752.50M |
| Retained Earnings | 1.40B | 1.34B | 1.49B | 1.80B | 1.71B | 1.57B |
| Treasury Stock | -1.53B | -1.53B | -1.17B | -1.17B | -1.17B | -767.70M |
| Comprehensive Income & Other | -13.20M | -12.50M | -108.20M | -45.30M | 11.50M | -5.50M |
| Total Common Equity | 788.90M | 721.20M | 1.05B | 1.36B | 1.34B | 1.55B |
| Shareholders' Equity | 788.90M | 721.20M | 1.05B | 1.36B | 1.34B | 1.55B |
| Total Liabilities & Equity | 1.64B | 1.70B | 2.63B | 3.04B | 3.21B | 1.89B |
| Total Debt | 485.90M | 559.30M | 762.30M | 970.00M | 1.03B | 32.70M |
| Net Cash (Debt) | -361.30M | -407.00M | -638.70M | -807.00M | -825.90M | 712.60M |
| Net Cash Per Share | -6.73 | -7.51 | -11.74 | -14.92 | -14.96 | 12.35 |
| Filing Date Shares Outstanding | 52.37M | 52.19M | 53.95M | 52.91M | 52.60M | 55.36M |
| Total Common Shares Outstanding | 52.37M | 52.10M | 53.60M | 52.80M | 52.50M | 55.34M |
| Working Capital | 545.10M | 554.40M | 608.10M | 668.10M | 678.60M | 970.80M |
| Book Value Per Share | 15.07 | 13.84 | 19.62 | 25.85 | 25.50 | 28.01 |
| Tangible Book Value | 637.00M | 568.10M | 893.60M | 304.80M | 170.90M | 1.38B |
| Tangible Book Value Per Share | 12.16 | 10.90 | 16.67 | 5.77 | 3.26 | 24.89 |
| Land | 47.70M | 47.70M | 47.70M | 66.20M | 65.10M | 57.00M |
| Buildings | 151.80M | 151.80M | 143.50M | 151.00M | 151.00M | 142.10M |
| Machinery | 210.40M | 208.90M | 202.10M | 280.70M | 254.80M | 184.20M |
| Construction In Progress | 26.70M | 24.50M | 29.00M | 59.20M | 50.60M | 25.10M |
| Leasehold Improvements | 34.60M | 34.30M | 31.20M | 37.50M | 32.30M | 21.90M |
Cash flow statement
Fiscal year February - January; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 76.30M | -151.50M | -304.90M | 81.50M | 143.50M | 229.60M |
| Depreciation & Amortization | 38.30M | 38.80M | 48.50M | 38.90M | 136.10M | 35.60M |
| Other Amortization | 2.80M | 3.00M | 1.90M | 1.90M | 1.40M | |
| Loss (Gain) From Sale of Assets | 800.00K | 500.00K | ||||
| Stock-Based Compensation | 35.60M | 35.80M | 36.10M | 6.10M | 47.70M | 44.70M |
| Provision & Write-off of Bad Debts | 2.80M | 3.00M | 1.20M | 1.10M | 1.30M | 800.00K |
| Other Operating Activities | 153.40M | 378.00M | 394.60M | 7.20M | -38.80M | -15.10M |
| Change in Accounts Receivable | 37.50M | 2.20M | -55.30M | 54.40M | -144.10M | -60.80M |
| Change in Inventory | -127.90M | -112.10M | -22.50M | -106.40M | -155.90M | 13.50M |
| Change in Accounts Payable | -52.70M | -27.10M | 10.60M | -8.40M | 60.50M | 11.00M |
| Change in Unearned Revenue | 2.20M | 3.70M | 17.90M | 8.80M | 28.10M | 7.10M |
| Change in Income Taxes | 11.60M | 3.90M | -5.40M | 200.00K | 3.80M | 6.40M |
| Change in Other Net Operating Assets | 45.40M | 39.50M | 39.80M | 14.30M | -54.20M | -8.70M |
| Operating Cash Flow | 232.00M | 217.80M | 196.40M | 94.10M | 29.40M | 264.60M |
| Capital Expenditures | -21.10M | -19.40M | -21.10M | -38.40M | -52.80M | -25.50M |
| Sale of Property, Plant & Equipment | 19.60M | 13.50M | ||||
| Cash Acquisitions | -999.70M | |||||
| Sale (Purchase) of Intangibles | -4.80M | -5.30M | -17.20M | -23.40M | -3.50M | -9.40M |
| Other Investing Activities | 286.10M | 280.20M | -26.40M | -19.40M | -1.70M | -2.60M |
| Investing Cash Flow | 260.20M | 275.10M | -51.20M | -81.20M | -1.06B | -37.50M |
| Long-Term Debt Issued | 1.08B | 89.00M | 173.30M | 1.08B | ||
| Long-Term Debt Repaid | -1.28B | -235.80M | -238.40M | -135.40M | ||
| Net Debt Issued (Repaid) | -197.90M | -204.10M | -146.80M | -65.10M | 948.50M | |
| Issuance of Common Stock | 38.30M | 71.40M | 25.20M | 7.00M | 8.10M | 23.20M |
| Repurchase of Common Stock | -378.00M | -381.70M | -11.80M | -12.90M | -426.90M | -145.60M |
| Other Financing Activities | -5.50M | -6.30M | 7.80M | 13.90M | -9.30M | |
| Financing Cash Flow | -543.10M | -520.70M | -125.60M | -57.10M | 520.40M | -122.40M |
| Foreign Exchange Rate Adjustments | -1.00M | -300.00K | -6.40M | 2.80M | -30.90M | -1.30M |
| Net Cash Flow | -51.90M | -28.10M | 13.20M | -41.40M | -538.80M | 103.40M |
| Free Cash Flow | 210.90M | 198.40M | 175.30M | 55.70M | -23.40M | 239.10M |
| Free Cash Flow Margin | 13.53% | 12.99% | 12.57% | 4.37% | -1.15% | 19.30% |
| Free Cash Flow Per Share | 3.93 | 3.66 | 3.22 | 1.03 | -0.42 | 4.14 |
| Levered Free Cash Flow | 327.93M | 316.41M | 161.66M | 25.50M | -23.14M | 217.54M |
| Unlevered Free Cash Flow | 344.19M | 334.16M | 185.51M | 53.04M | -8.47M | 217.73M |
| Cash Interest Paid | 26.50M | 32.80M | 36.70M | 46.10M | 23.00M | 300.00K |
| Cash Income Tax Paid | 31.10M | 28.50M | 35.90M | 20.40M | 87.30M | 43.90M |
| Change in Working Capital | -83.90M | -89.90M | -14.90M | -37.10M | -261.80M | -31.50M |
Ratios
Fiscal year February - January; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 9.42B | 6.84B | 9.15B | 6.19B | 7.78B | 16.17B |
| Enterprise Value | 9.78B | 7.12B | 9.86B | 7.07B | 8.60B | 15.55B |
| Last Close Price | 179.95 | 127.40 | 170.97 | 117.21 | 147.95 | 292.78 |
| PE Ratio | 126.63 | 75.99 | 54.20 | 70.42 | ||
| Forward PE | 28.99 | 22.26 | 37.02 | 39.57 | 34.91 | 68.50 |
| PS Ratio | 6.05 | 4.48 | 6.56 | 4.86 | 3.82 | 13.05 |
| PB Ratio | 11.94 | 9.49 | 8.70 | 4.54 | 5.81 | 10.43 |
| P/TBV Ratio | 14.79 | 12.05 | 10.24 | 20.32 | 45.51 | 11.74 |
| P/FCF Ratio | 44.68 | 34.49 | 52.22 | 111.19 | 67.62 | |
| P/OCF Ratio | 40.62 | 31.42 | 46.61 | 65.82 | 264.52 | 61.10 |
| PEG Ratio | 1.69 | 1.69 | 7.42 | 7.42 | 3.17 | 5.71 |
| EV/Sales Ratio | 6.28 | 4.66 | 7.06 | 5.54 | 4.22 | 12.55 |
| EV/EBITDA Ratio | 26.61 | 20.61 | 50.86 | 31.06 | 23.70 | 50.01 |
| EV/EBIT Ratio | 30.47 | 23.22 | 67.83 | 37.46 | 37.93 | 56.38 |
| EV/FCF Ratio | 46.39 | 35.87 | 56.23 | 126.90 | 65.03 | |
| Debt / Equity Ratio | 0.62 | 0.78 | 0.72 | 0.71 | 0.77 | 0.02 |
| Debt / EBITDA Ratio | 1.29 | 1.58 | 3.70 | 4.00 | 2.70 | 0.10 |
| Debt / FCF Ratio | 2.30 | 2.82 | 4.35 | 17.41 | 0.14 | |
| Net Debt / Equity Ratio | 0.46 | 0.56 | 0.61 | 0.59 | 0.62 | -0.46 |
| Net Debt / EBITDA Ratio | 0.98 | 1.18 | 3.30 | 3.55 | 2.28 | -2.29 |
| Net Debt / FCF Ratio | 1.71 | 2.05 | 3.64 | 14.49 | -35.30 | -2.98 |
| Asset Turnover | 0.79 | 0.71 | 0.49 | 0.41 | 0.80 | 0.69 |
| Inventory Turnover | 1.71 | 1.73 | 1.40 | 0.97 | 2.78 | 2.06 |
| Quick Ratio | 1.27 | 1.29 | 0.75 | 1.04 | 1.12 | 3.70 |
| Current Ratio | 2.67 | 2.49 | 1.98 | 2.19 | 2.08 | 4.63 |
| Return on Equity (ROE) | 24.99% | 23.43% | 1.34% | 7.97% | 9.93% | 15.53% |
| Return on Assets (ROA) | 10.20% | 8.86% | 3.21% | 3.77% | 5.56% | 9.58% |
| Return on Invested Capital (ROIC) | 22.18% | 16.57% | 5.59% | 8.29% | 11.20% | 28.18% |
| Return on Capital Employed (ROCE) | 24.40% | 23.10% | 7.20% | 7.60% | 8.80% | 17.00% |
| Earnings Yield | 0.81% | -2.21% | -3.33% | 1.32% | 1.85% | 1.42% |
| FCF Yield | 2.24% | 2.90% | 1.92% | 0.90% | -0.30% | 1.48% |
| Buyback Yield / Dilution | -0.19% | 0.37% | -0.56% | 1.99% | 4.33% | 0.52% |