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ICU Medical, Inc.

ICU Medical, Inc.

NASDAQ•ICUI
CEO: Mr. Vivek Jain
Sector: Healthcare
Industry: Medical - Instruments & Supplies
Listing Date: 1992-03-31
ICU Medical, Inc., together with its subsidiaries, develops, manufactures, and sells medical devices used in infusion therapy, vascular access, and vital care applications worldwide. Its infusion therapy products include needlefree products under the MicroClave, MicroClave Clear, and NanoClave brands; Neutron catheter patency devices; ChemoClave and ChemoLock closed system transfer devices, which are used to limit the escape of hazardous drugs or vapor concentrations, block the transfer of environmental contaminants into the system, and eliminates the risk of needlestick injury; Tego needle free connectors; Deltec GRIPPER non-coring needles for portal access; and ClearGuard, SwabCap, and SwabTip disinfection caps. The company provides IV therapy and diluents, such as sodium chloride, dextrose, balanced electrolyte solutions, lactated ringer's, ringer's, mannitol, sodium chloride/dextrose, and sterile water; and irrigation solutions comprising sodium chloride and sterile water irrigation, physiologic solutions, ringer's irrigation, acetic acid irrigation, glycine irrigation, sorbitol-mannitol irrigation, flexible containers, and pour bottle options. It offers infusion pumps under the Plum 360 and Plum Duo brands; ambulatory and syringe infusion hardware products; IV mediation safety software, including ICU Medical MedNet, an enterprise-class medication management platform; LifeShield and PharmGuard medication infusion safety software; hemodynamic monitoring products; anesthesia systems and devices, breathing circuits, ventilation, respiratory, and specialty airway products; temperature management solutions; anesthesia/pain management trays and components; and professional services. The company's customers include acute care hospitals, wholesalers, ambulatory clinics, and alternate site facilities, including outpatient clinics, home health care providers, and long-term care facilities. ICU Medical, Inc. was founded in 1984 and is based in San Clemente, California.
Contact Information
951 Calle Amanecer, San Clemente, CA, 92673, United States
949-366-2183
www.icumed.com
Market Cap
$3.58B
P/E (TTM)
-615.6
77.7
Dividend Yield
--
52W High
$175.51
52W Low
$107.00
52W Range
56%
Rank39Top 29.7%
4.6
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 4.6 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$536.99M-8.85%
4-Quarter Trend

EPS

-$0.14-89.63%
4-Quarter Trend

FCF

$27.63M+28.21%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Net Income Swing Positive Swung to $16.5 M net income for nine months 2025 from $93.9 M net loss in 2024, driven by IV Solutions divestiture.
Gross Margin Expansion Noted Gross margin reached 36.6% for nine months 2025, up 250 basis points, benefiting from lower margin IV Solutions business sale.
Debt Reduction Significant Paid $272.8 M principal on long-term debt for nine months 2025, including $200.0 M prepayment using divestiture proceeds.
Operating Income Improvement Income from operations reached $37.2 M for nine months 2025, a substantial increase from $5.3 M reported in prior year.

Risk Factors

FDA Warning Letter Issued Received 2025 FDA Warning Letter regarding MedFusion/CADD pumps; seeking 510(k) clearance now, outcome uncertain.
Tariff Costs Increasing Incurred $10.9 M incremental reciprocal tariffs in Q3 2025; trade tensions and geopolitical conflicts remain fluid risks.
Foreign Currency Exposure Global sales expose results to volatile foreign exchange rates; hedging mitigates but does not eliminate all currency risk.
Competition and Market Share Failure to compete successfully with competitors and maintain market share remains a primary risk factor cited by management.

Outlook

Credit Facility Refinanced Refinanced credit facilities on October 31, 2025, establishing new $750.0 M Term Loan A and $500.0 M revolver.
Capital Expenditures Reduced Estimated 2025 planned capital expenditures range lowered to $85 M to $95 M following IV Solutions business disposal impact.
Integration Efforts Continue Ongoing consulting and employee costs incurred integrating Smiths Medical business acquired in 2022 continue to impact expenses.
Debt Covenants Compliance Maintained compliance with all financial covenants under the Credit Agreement as of September 30, 2025 measurement date.

Peer Comparison

Revenue (TTM)

Perrigo Company plcPRGO
$4.28B
-2.5%
DENTSPLY SIRONA Inc.XRAY
$3.62B
-7.1%
Surgery Partners, Inc.SGRY
$3.29B
+10.1%

Gross Margin (Latest Quarter)

Apellis Pharmaceuticals, Inc.APLS
94.6%
+11.6pp
Tarsus Pharmaceuticals, Inc.TARS
93.0%
-0.3pp
LivaNova PLCLIVN
68.4%
-2.4pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
HAE$3.91B22.719.4%50.1%
ICUI$3.58B-615.6-0.3%32.0%
TARS$3.46B-42.7-26.3%0.0%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-5.2%
Growth Under Pressure
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Feb 26, 2026
|
EPS:$1.67
|
Revenue:-
Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 6, 2025|
    Revenue: $536.99M-8.8%
    |
    EPS: $-0.14-89.6%
    Miss
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 7, 2025|
    Revenue: $548.87M-8.0%
    |
    EPS: $1.43-262.5%
    Miss
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 8, 2025|
    Revenue: $604.70M+6.8%
    |
    EPS: $-0.63-61.4%
    Miss
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 27, 2025|
    Revenue: $2.38B+5.4%
    |
    EPS: $-4.83-292.7%
    Miss
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 12, 2024|
    Revenue: $589.13M+6.5%
    |
    EPS: $-1.35-550.0%
    Miss
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 7, 2024|
    Revenue: $596.46M+8.6%
    |
    EPS: $-0.88+114.6%
    Miss
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 7, 2024|
    Revenue: $565.96M-0.5%
    |
    EPS: $-1.63+297.6%
    Miss
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 27, 2024|
    Revenue: $2.26B-0.9%
    |
    EPS: $-1.23+60.5%
    Miss