종합 밸류에이션 구간 · 보수적 $165–$185 / 적정 $210–$235 / 낙관적 $270–$300. $203.08 기준, 보수적 구간과 적정 구간 사이.
보고서 발행 시 $206.1（2026년 5월 28일）
데이터 제공: EODHD, 보고 통화 기준 표시. 참고용일 뿐 투자 자문이 아닙니다.
ResMed Inc. develops, manufactures, distributes, and markets medical devices and cloud-based software applications to diagnose, treat, and manage respiratory disorders in the United States and internationally. The company operates in two segments, Sleep and Breathing Health, and Residential Care Software. It offers sleep recorders for the diagnosis and titration of sleep apnea in sleep clinics, hospitals, and at home, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry; and EasyCare Tx, a sleep lab solution. The company also provides AirView, a cloud-based system that enables remote monitoring and changing of patients' device settings; myAir, a personalized therapy management application for patients with sleep apnea that provides support, education, and troubleshooting tools for increased patient engagement and improved compliance; and connectivity module which provides a cellular connection between compatible ventilation devices and AirView system. In addition, the company offers Brightree solutions which are solutions and services for organizations in home medical equipment and pharmacy, orthotic and prosthetic, and home infusion; HEALTHCAREfirst solutions that offers electronic health record, software, billing and coding services, and advanced analytics that enables home health and hospice agencies to optimize clinical, financial and administrative processes; MatrixCare EHR software as a service solutions used by skilled nursing and senior living providers, life plan communities, and home health and hospice sectors; and MEDIFOX DAN software solutions that is used by residential care providers, such as home health and nursing home providers. ResMed Inc. was founded in 1989 and is headquartered in San Diego, California.
연혁
ResMed Inc. was founded in 1989 and is headquartered in San Diego, California, and completed its IPO on June 2, 1995. The company grew from sleep apnea diagnostic and CPAP/APAP therapy devices into two operating segments: Sleep and Breathing Health (devices, masks, accessories, diagnostic products, and cloud patient-management tools such as AirView and myAir) and Residential Care Software. Its device line evolved through generations, with AirSense 10 followed by AirSense 11 adding connectivity and digital features, alongside diagnostic products including ApneaLink Air, NightOwl, and EasyCare Tx. The Residential Care Software segment was built largely through acquisitions, including MEDIFOX DAN for $997.5 million in fiscal 2023, Somnoware in fiscal 2024, and VirtuOx in 2025, complementing earlier platforms such as Brightree, HEALTHCAREfirst, and MatrixCare. Revenue rose from $2.957 billion in 2020 to $5.146 billion in 2025 (roughly an 11.7% five-year compound rate) and net income grew from $622 million to $1.401 billion over the same period. By fiscal 2025 the company employed about 10,600 people, sold in more than 140 countries, and had built an installed base of over 30 million AirView cloud-connected patients, more than 10 million registered myAir users, and software platforms covering over 160 million patient accounts. Michael Farrell has served as CEO since 2013 and also as chairman since 2023, alongside founder Peter Farrell.
업계 내 위치
ResMed is a leading provider of sleep apnea and home respiratory-care devices, where CPAP is the first-line, typically nightly long-term treatment for obstructive sleep apnea (OSA). The company's 10-K cites research estimating about 936 million people aged 30-69 with OSA and about 424 million with moderate-to-severe OSA, in a market it describes as globally low-penetration. In fiscal 2025 the Sleep and Breathing Health segment generated $4.505 billion of revenue and Residential Care Software $641 million; by product, devices were about 52% of total revenue, masks and other about 36%, and software about 12%. ResMed sells in more than 140 countries through direct sales and distribution, with no single customer accounting for more than 10% of revenue. Its competition spans traditional PAP and mask rivals, historically led by Philips Respironics (whose CPAP/BiPAP/ventilator recall from 2021 and 2024 federal consent decree reshaped the competitive landscape); alternative therapies such as Inspire's implantable neurostimulation and oral appliances; and drug therapy, with the FDA approving Zepbound in December 2024 as the first OSA drug treatment for patients with comorbid obesity. By real-time market data cited in the source, Philips had a market capitalization of about $24.87 billion and Inspire about $1.21 billion. ResMed's differentiation rests on the combination of devices, masks, cloud platforms, channel relationships, and a large real-world data base, with switching costs from mask and consumable repurchase and from institutional software adoption, plus roughly 10,000 patents and designs and U.S. products cleared mainly via 510(k); AirSense 10 is described by the company as its most widely used CPAP/APAP series.
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