--- canonical_url: https://www.stockexpertai.com/earnings/rmd last_updated: 2026-05-09T11:59:43.728Z --- # ResMed Inc. (RMD) Q4 FY2026 Earnings Preview > This content was automatically generated with FMP live data + Q2 FY2026 earnings call transcript. Generated: 2026-05-09T11:59:43.211Z. Educational tool, not investment advice. --- ## Quick Summary | Field | Value | Source | |---|---|---| | Price | $206.76 (▼ -0.06%) | fmp:quote | | Market Cap | $30.0B | fmp:profile | | 52w range | $198.64 – $293.81 | fmp:quote | | Earnings | Thu 30 Jul | fmp:earnings-history | | EPS estimate | $2.90 (+14% YoY) | fmp:earnings-estimate | | Revenue estimate | $1.5B | fmp:earnings-estimate | | Beat streak | 3/4 | fmp:earnings-history | | Rating | A (overall 4/5) | fmp:ratings | | Analyst median target | $275 (+33.0% upside) | fmp:price-target-consensus | | MoonshotScore | 53/100 | derived | | Council | 4/6 bullish | derived | | Munger verdict | Undervalued | derived | ## ResMed Inc. — Q4 FY2026 Expectations Q4 consensus: revenue $1.5B^{[FMP est]}, EPS $2.90^{[FMP est]}. 3 consecutive quarters of beat^{[FMP earnings]}. ## Quick Take **Score:** A · **Stance:** BUY · **Council:** 4/6 · **Moonshot:** 53 = MoonshotScore 53^{[9-pillar formula]} + Council 4/6^{[6-lens rule]}. Form 4: 0 transactions^{[FMP Form 4]}. ## Watchlist (6 metrics) ### 1. SG&A Expense Guidance ResMed still expects SG&A expenses as a percentage of revenue to be in the range of 19% to 20% for fiscal year 2026. > "Looking forward and subject to currency movements, we still expect SG&A expenses as a percentage of revenue to be in the range of 19% to 20% for fiscal year 2026." > — Brett Sandercock, Expectation / Guide · Q2 FY2026 ### 2. R&D Expense Guidance ResMed still expects R&D expenses as a percentage of revenue to be in the range of 6% to 7% for fiscal year 2026. > "Looking forward and subject to currency movements, we still expect R&D expenses as a percentage of revenue to be in the range of 6% to 7% for fiscal year 2026." > — Brett Sandercock, Expectation / Guide · Q2 FY2026 ### 3. Gross Margin Improvement ResMed expects gross margin to be in the range of 62% to 63% for fiscal year 2026. > "Looking forward and subject to currency movements, we now expect gross margin will be in the range of 62% to 63% for fiscal year 2026." > — Brett Sandercock, Risk Indicator · Q2 FY2026 ### 4. RCS Growth Outlook I remain confident that we will be back to sustainable high single-digit growth and double-digit operating profit growth in fiscal year 2027. > "I remain confident that we will be back to sustainable high single-digit growth and double-digit operating profit growth in fiscal year 2027." > — Michael Farrell, Expectation / Guide · Q2 FY2026 ### 5. EMEA APAC Mask Growth The team from EMEA and APAC has delivered, and we achieved 8% growth on a constant currency basis across Europe, Asia and Rest of World > "The team from EMEA and APAC has delivered, and we achieved 8% growth on a constant currency basis across Europe, Asia and Rest of World" > — Michael Farrell, Investor Focus · Q2 FY2026 ### 6. Share Repurchase Program We plan to continue to repurchase shares for a total value of more than $600 million for fiscal year 2026. > "We plan to continue to repurchase shares for a total value of more than $600 million for fiscal year 2026." > — Brett Sandercock, Investor Focus · Q2 FY2026 ## MoonshotScore Pillars | Pillar | Score | Level | Evidence | |---|---|---|---| | Revenue Growth | 3.0 | weak | Q3 vs Q4: moderate growth (+6.2%) | | Gross Margin | 6.0 | medium | Q3: high margin (62.2%) | | Operating Leverage | 3.0 | weak | op margin very strong (34.9%, scale leverage) | | Cash Runway | 10.0 | strong | FCF very strong ($0.5B, 15.5× CapEx) | | R&D Intensity | 5.0 | medium | average R&D (6.5%) | | Price Momentum | 4.0 | medium | RSI 33.1 weak momentum, 50d below | | News Sentiment | 6.0 | medium | majority buy (58%) | **Formula:** sum(pillar.score) / (count * 10) * 100. Each pillar deterministic from FMP. Source maps in pillar.formula. ## Council (7-Lens) | Name | Stance | Context | |---|---|---| | Ray Dalio | bull | macro · target upside +33.0% | | Ken Griffin | bear | flow · 50d MA below | | Jim Simons | neutral | quant · RSI 33 | | Klarman | bull | value · target upside +33.0% | | Buffett | bull | quality · ROE score 5/5 | | Munger | bull | valuation · target upside +33.0% | **Formula:** Each lens uses deterministic rule on bundle data. Logged in member.contextTr. ## Munger Lens - **Verdict:** Undervalued - **Financial Health:** Strong - **Margin of Safety:** Strong - **Interest Coverage:** Adequate - **ROIC vs WACC:** Healthy **Formula:** verdict=upside>25?Undervalued:>0?Fairly Valued:Overvalued. Each lens deterministic from FMP ratings + priceTarget. ## Technical Levels - **RSI(14):** 33.1 — momentum zayıf — oversold yakınında değil ama alıcı baskısı az - **50d MA:** $228 — hisse %9.4 altında — kısa vadeli direnç - **200d MA:** $254 — hisse %18.7 altında — uzun vadeli baskı - **Volume (10d):** -43% ## Past Performance (4 Quarters) | Quarter | EPS Actual | EPS Estimate | Result | Reaction | |---|---|---|---|---| | Q4 FY25 | $2.55 | $2.55 | MISS | +2.7% | | Q1 FY26 | $2.55 | $2.51 | BEAT | -2.1% | | Q2 FY26 | $2.81 | $2.74 | BEAT | +0.3% | | Q3 FY26 | $2.86 | $2.79 | +2.5% EPS | -4.1% | Q2 (January 29, 2026): EPS $2.86 vs $2.79 est^[FMP], +2.5% beat. D+1 movement: -4.1%^{[FMP D+1]}. Decline despite beat — market reacted to guidance, not numbers. ## 3 Scenarios ### Scenario A · Beat **Q4 EPS > $2.90 + CapEx discipline** Threshold: EPS > $2.90^{[FMP est]}. Target: Break above median target $275^{[FMP target]}; high target $345^[FMP] upper bound. ### Scenario B · In-Line **EPS ≈ $2.90 + CapEx < $33.7M** Threshold: EPS ≈ $2.90^{[FMP est]}, Q4 CapEx < $33.7M^[FMP]. Target: Consolidation in the band between current $207^[FMP] and median $275^[FMP]. ### Scenario C · Miss **EPS < $2.81 or CapEx ≥ $33.7M** Threshold: EPS < $2.81^{[FMP est×0.97]}. Target: Current $207 below SMA200 $254^[FMP], if rejection continues, $216^[derived] support activates. ## Risk Notes ### Primary segment below threshold Q2: EPS $2.86 vs $2.79 beat^[FMP], stock -4.1% D+1^[FMP]. ### Backlog concentration No RPO/backlog concentration disclosed in Q2 earnings call. ### Insider trading Form 4 data is marked in the table — this page does not generate assumptions for this stock. | Executive | Action | Amount | Date | |---|---|---|---| **Net:** — (0 transactions · 0 sells · 0 buys) · Q3 FY26 ### CapEx shock Q2 CapEx $33.7M^{[FMP cashflow]}. Q2 op margin 34.9%^{[FMP op margin]} — this level in Q4 is sensitive to CapEx revision risk. ## Wall Street Consensus - **Median target:** $275 (+33.0% upside vs current $207) - **High / Low:** $345 / $225 - **Buy / Hold / Sell:** 11 / 7 / 1 - **Analyst count:** 3 (last quarter), 34 all-time ## Additional Transcript Insights ### 1. gross_margin_improvement **Claim:** ResMed expects gross margin to be in the range of 62% to 63% for fiscal year 2026. **Evidence (transcript):** "Looking forward and subject to currency movements, we now expect gross margin will be in the range of 62% to 63% for fiscal year 2026." **Numbers:** 62%, 63%, 2026 ### 2. SG&A_expense_guidance **Claim:** ResMed still expects SG&A expenses as a percentage of revenue to be in the range of 19% to 20% for fiscal year 2026. **Evidence (transcript):** "Looking forward and subject to currency movements, we still expect SG&A expenses as a percentage of revenue to be in the range of 19% to 20% for fiscal year 2026." **Numbers:** 19%, 20%, 2026 ### 3. R&D_expense_guidance **Claim:** ResMed still expects R&D expenses as a percentage of revenue to be in the range of 6% to 7% for fiscal year 2026. **Evidence (transcript):** "Looking forward and subject to currency movements, we still expect R&D expenses as a percentage of revenue to be in the range of 6% to 7% for fiscal year 2026." **Numbers:** 6%, 7%, 2026 ### 4. share_repurchase_program **Claim:** We plan to continue to repurchase shares for a total value of more than $600 million for fiscal year 2026. **Evidence (transcript):** "We plan to continue to repurchase shares for a total value of more than $600 million for fiscal year 2026." **Numbers:** $600, 2026 ### 5. EMEA_APAC_mask_growth **Claim:** The team from EMEA and APAC has delivered, and we achieved 8% growth on a constant currency basis across Europe, Asia and Rest of World **Evidence (transcript):** "The team from EMEA and APAC has delivered, and we achieved 8% growth on a constant currency basis across Europe, Asia and Rest of World" **Numbers:** 8% ### 6. RCS_growth_outlook **Claim:** I remain confident that we will be back to sustainable high single-digit growth and double-digit operating profit growth in fiscal year 2027. **Evidence (transcript):** "I remain confident that we will be back to sustainable high single-digit growth and double-digit operating profit growth in fiscal year 2027." **Numbers:** 2027 --- *Data source: FMP (live query, 2026-05-09), Q2 FY2026 earnings call transcript (Translated to EN with Gemini 2.0 Flash). Educational tool, not investment advice.*