Resmed (RMD) Q4 FY2026 earnings: revenue $1.5 billion, up 8.6% on the year

Resmed Inc. (RMD) reported revenue of $1.5 billion for Q4 FY2026, the quarter ended 30 June 2026, up 8.6% on the same quarter a year earlier. Net income was $383 million, up 1.0% on the year, and diluted earnings per share $2.64. The figures are the company's own, from the 10-K it filed with the SEC on 13 August 2026.

Revenue

$1.5 billion

+8.6% on the year · +2.3% on the quarter

Q1 FY2025Q4 FY2026

Operating margin

30.7%

33.7% a year earlier

Q1 FY2025Q4 FY2026

Net income

$383 million

+1.0% on the year · -3.8% on the quarter

Q1 FY2025Q4 FY2026

Diluted EPS

$2.64

+2.3% on the year · -3.6% on the quarter

Q1 FY2025Q4 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 kept.

Revenue rose 9% to $1.5 billion: Revenue was $1,464 million, up 9% reported and 8% in constant currency, with demand across sleep devices, masks, accessories and software solutions.
Non-GAAP diluted EPS up 16%: Non-GAAP diluted EPS was $2.95 against $2.55, up 16%; management attributed the increase predominantly to sales growth and gross margin improvement. GAAP diluted EPS was $2.64, up 2%.
Non-GAAP gross margin up 90 basis points: Non-GAAP gross margin was 62.3%, up 90 basis points; management attributed this predominantly to productivity pipeline execution. GAAP gross margin was 58.8%, down 200 basis points.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q4 FY2026	Q3 FY2026	Q4 FY2025	On the quarter	On the year
Revenue	1,464	1,431	1,348	+2.3%	+8.6%
Cost of revenue	602	540	528	+11.5%	+14.1%
Gross profit	861	891	820	-3.3%	+5.0%
Gross margin	58.8%	62.2%	60.8%
Research and development	106	94.3	86.4	+12.2%	+22.3%
Selling, general and administrative	296	286	265	+3.7%	+11.8%
Operating income	449	500	455	-10.2%	-1.3%
Operating margin	30.7%	34.9%	33.7%
Pre-tax income	474	502	458	-5.6%	+3.5%
Income tax	90.7	104	78.3	-12.4%	+15.8%
Effective tax rate	19.1%	20.6%	17.1%
Net income	383	399	380	-3.8%	+1.0%
Net margin	26.2%	27.9%	28.2%
Diluted EPS	$2.64	$2.74	$2.58	-3.6%	+2.3%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q4 FY2026	Q3 FY2026	Q4 FY2025	On the quarter	On the year
Operating cash flow	455	554	539	-18.0%	-15.6%
Capital expenditure	51.1	33.7	30.6	+51.9%	+67.2%
Free cash flow	404	520	508	-22.5%	-20.6%
Free cash flow margin	27.6%	36.4%	37.7%
Cash from investing	-384	-58.0	-134
Cash from financing	-263	-255	-164
Depreciation and amortisation	44.8	59.0	63.6	-24.1%	-29.6%
Share-based compensation	27.5	26.8	24.8	+2.5%	+10.9%
Buybacks	200	175	100	+14.3%	+100.0%
Dividends paid	87.1	87.2	77.6	-0.2%	+12.2%
Dividend per share	n/a	$0.60	n/a
Diluted shares, weighted	145m	146m	147m	-0.5%	-1.4%
Shares outstanding at period end	144m	145m	146m	-0.6%	-1.5%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2026	Q3 FY2026	Q4 FY2025	On the quarter	On the year
Shareholders' equity	6,585	6,492	5,968	+1.4%	+10.3%
Debt	659	664	668	-0.7%	-1.3%
Operating lease liabilities	137	150	153	-8.3%	-10.2%
Other liabilities	1,584	1,478	1,385	+7.1%	+14.3%
Total liabilities and equity	8,966	8,784	8,174	+2.1%	+9.7%
Fixed assets	582	567	551	+2.6%	+5.6%
Goodwill	2,910	3,043	3,047	-4.4%	-4.5%
Intangible assets	453	425	465	+6.5%	-2.6%
Cash and equivalents	1,469	1,661	1,209	-11.5%	+21.5%
Receivables	1,036	999	939	+3.7%	+10.3%
Inventory	946	912	928	+3.7%	+2.0%
Other assets	1,571	1,178	1,035	+33.3%	+51.7%
Total assets	8,966	8,784	8,174	+2.1%	+9.7%

Questions

What was Resmed's revenue in Q4 FY2026?

Resmed (RMD) reported revenue of $1.5 billion for Q4 FY2026, the quarter ended 30 June 2026, up 8.6% on the same quarter a year earlier.

How much did Resmed earn in Q4 FY2026?

Net income for Q4 FY2026 was $383 million, up 1.0% on the year, and diluted earnings per share $2.64.

When did Resmed report Q4 FY2026 results?

Resmed filed its 10-K for the year that ended with the quarter on 13 August 2026; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026 †	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027
Revenue	895	864	915	950	1,034	1,117	1,122	1,102	1,163	1,197	1,223	1,225	1,282	1,292	1,348	1,336	1,423	1,431	1,464	1,415
Cost of revenue	391	373	392	409	454	499	505	502	516	504	508	507	531	525	528	518	544	540	602	544
Gross profit	504	491	523	541	580	618	617	600	647	693	716	717	751	766	820	818	879	891	861	871
Gross margin	56%	57%	57%	57%	56%	55%	55%	54%	56%	58%	58%	59%	59%	59%	61%	61%	62%	62%	59%	62%
R&D	62.5	66.8	64.3	63.2	69.9	76.4	78.1	75.7	73.9	77.1	80.9	79.5	81.4	83.9	86.4	89.5	91.0	94.3	106	103
SG&A	185	182	195	194	212	228	240	223	222	230	242	239	242	245	265	259	278	286	296	315
Operating income	249	234	255	276	280	301	275	289	275	375	381	387	417	426	455	447	492	500	449	453
Operating margin	28%	27%	28%	29%	27%	27%	25%	26%	24%	31%	31%	32%	33%	33%	34%	33%	35%	35%	31%	32%
Interest expense	5.9	5.5	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	7.1	n/a	n/a	n/a	4.8
Pre-tax income	237	226	238	262	274	289	277	272	259	375	358	383	418	418	458	447	496	502	474	539
Tax rate	15%	21%	18%	20%	18%	20%	17%	19%	20%	20%	18%	19%	18%	13%	17%	22%	21%	21%	19%	22%
Net income	202	179	195	210	225	232	230	219	209	300	292	311	345	365	380	349	393	399	383	418
Net margin	23%	21%	21%	22%	22%	21%	20%	20%	18%	25%	24%	25%	27%	28%	28%	26%	28%	28%	26%	30%
Diluted EPS	$1.37	$1.22	$1.32	$1.43	$1.53	$1.58	$1.56	$1.49	$1.42	$2.04	$1.98	$2.11	$2.34	$2.48	$2.58	$2.37	$2.68	$2.74	$2.64	$2.92
Operating cash flow	220	117	79.5	44.7	129	283	237	286	273	402	440	326	309	579	539	457	340	554	455	422
Capital expenditure	30.4	48.4	28.6	29.1	27.4	28.8	34.4	30.0	23.4	21.2	24.9	17.8	20.6	20.8	30.6	43.0	28.5	33.7	51.1	48.7
Free cash flow	189	69.0	50.8	15.6	101	254	203	256	249	381	415	308	288	558	508	414	311	520	404	374
Buybacks	n/a	n/a	n/a	n/a	n/a	0.0	n/a	0.0	50.0	50.0	50.0	50.0	75.0	75.0	100	150	175	175	200	936
Dividends paid	61.2	61.4	61.5	64.4	64.5	64.6	64.7	70.6	70.7	70.5	70.6	77.9	77.7	77.7	77.6	87.8	87.6	87.2	87.1	95.0
Shares outstanding	146m	146m	146m	146m	147m	147m	147m	147m	147m	147m	147m	147m	147m	147m	146m	146m	146m	145m	144m	141m
Filing	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 30 June 2026, filed 13 August 2026: the filing.