ICU Medical (ICUI) AI Stock Analysis

• Market Cap: $3.10B
• Dividend Yield: N/A
• Average Volume (3M): 336.92K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.81
• Revenue Growth: 2.95%
• EPS Growth: 47.92%
• Country: US
• Employees: 15,000
• Sector: Healthcare
• Sector Strength: 53
• Industry: Medical - Instruments & Supplies
• EPS (TTM): 2.10
• Shares Outstanding: 24,685,715
• 10 Day Avg. Volume: 258,498
• 30 Day Avg. Volume: 336,920
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.41
• Enterprise Value/Revenue: 1.84
• Enterprise Value/Gross Profit: 5.14
• Enterprise Value/Ebitda: 13.39
• 1Y Price Target: $162.50
• Price Target Upside: 23.82% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

• Rating: 53 Neutral
• Price Target: $133.00 ▲(1.34% Upside)

ICU Medical's overall stock score reflects significant challenges in profitability and valuation, with a negative P/E ratio and weak cash flow performance. While technical indicators show moderate bullish momentum, and earnings call highlights strong segment performance, tariff impacts and narrowed guidance weigh on the outlook.

Positive Factors

Business Strategy

ICUI is seen as a unique self-help story with strong business fundamentals and a new product, expected to generate significant earnings growth.

Financial Performance

ICUI's 2Q25 revenue, EBITDA, and EPS beat consensus, indicating strong financial performance.

Partnerships

ICUI's partnership with Otsuka is expected to boost both revenue growth and margin profile, supporting a higher valuation.

Negative Factors

Guidance

Management narrowed/lowered their EBITDA guidance, indicating caution in future financial performance.

Tariff Impact

ICUI expects a $25-30M tariff impact mostly in 2H25, highlighting potential challenges from trade policies.

Valuation Concerns

ICUI's valuation is well above peers with similar organic growth rates, which could pose a risk to investor sentiment.

ICU Medical Business Overview & Revenue Model

Company Description

ICU Medical, Inc. (ICUI) is a global medical technology company that specializes in the development, manufacturing, and sale of innovative medical devices used in infusion therapy, oncology, and critical care. The company primarily operates in the healthcare sector, offering a range of products that include infusion systems, intravenous (IV) access devices, and other related solutions designed to improve patient safety and outcomes. ICU Medical is well-known for its advanced technologies that help healthcare providers deliver medications and fluids accurately and safely.

How the Company Makes Money

ICU Medical generates revenue primarily through the sale of its medical devices and systems. Key revenue streams include the sale of infusion systems, IV access devices, and related consumables. The company also earns income from service agreements and maintenance contracts for its products. Significant partnerships with healthcare providers and hospitals enhance its market reach, while ongoing investments in research and development allow ICU Medical to innovate and expand its product offerings, further driving revenue growth. Additionally, the company benefits from a global presence, enabling it to tap into various international markets.

ICU Medical Financial Statement Overview

Summary

ICU Medical's financial performance is challenged by negative net income and declining free cash flow. Despite improvements in operational efficiency and leverage management, profitability issues persist, impacting overall financial stability.

Income Statement

ICU Medical's income statement shows a declining trend in revenue growth with a negative growth rate of -1.97% in the TTM period. The gross profit margin has slightly improved to 35.84% from the previous year, but the net profit margin remains negative at -1.56%, indicating ongoing profitability challenges. The EBIT and EBITDA margins have improved to 5.00% and 13.76% respectively, showing some operational efficiency gains. However, the overall profitability remains weak due to negative net income.

Balance Sheet

The balance sheet reflects a moderate debt-to-equity ratio of 0.66, which has improved from the previous year, indicating better leverage management. However, the return on equity is negative at -1.82%, highlighting challenges in generating returns for shareholders. The equity ratio stands at 51.51%, suggesting a stable capital structure with a reasonable proportion of equity financing.

Cash Flow

Cash flow analysis reveals a significant decline in free cash flow growth by -53.72% in the TTM period, indicating cash generation issues. The operating cash flow to net income ratio is 0.29, suggesting that operating cash flows are not sufficient to cover net losses. The free cash flow to net income ratio is 0.44, reflecting some ability to generate cash relative to net income, but overall cash flow performance remains weak.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.37B	2.38B	2.26B	2.28B	1.32B	1.27B
Gross Profit	850.28M	824.78M	739.87M	697.76M	491.49M	461.50M
EBITDA	326.34M	42.96M	253.20M	231.58M	223.46M	194.09M
Net Income	-36.95M	-117.69M	-29.66M	-74.29M	103.14M	86.87M
Balance Sheet
Total Assets	4.11B	4.20B	4.38B	4.52B	1.88B	1.76B
Cash, Cash Equivalents and Short-Term Investments	300.02M	308.57M	254.72M	213.01M	567.25M	410.78M
Total Debt	1.39B	1.64B	1.70B	1.73B	45.69M	52.70M
Total Liabilities	1.99B	2.24B	2.26B	2.43B	264.71M	261.43M
Stockholders Equity	2.12B	1.97B	2.12B	2.09B	1.62B	1.50B
Cash Flow
Free Cash Flow	61.06M	124.66M	72.53M	-161.46M	186.37M	122.36M
Operating Cash Flow	138.83M	204.03M	166.20M	-62.13M	267.54M	222.75M
Investing Cash Flow	121.24M	-88.96M	-87.95M	-1.91B	-90.69M	-98.14M
Financing Cash Flow	-269.92M	-55.80M	-35.98M	1.64B	-16.87M	-40.00K

ICU Medical Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 131.24
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ICUI, the sentiment is Positive. The current price of 131.24 is above the 20-day moving average (MA) of 121.97, above the 50-day MA of 126.49, and below the 200-day MA of 143.11, indicating a neutral trend. The MACD of 0.79 indicates Negative momentum. The RSI at 59.12 is Neutral, neither overbought nor oversold. The STOCH value of 63.23 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ICUI.

ICU Medical Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HOLX	75 Outperform	$14.85B	27.70	11.38%	―	1.28%	-17.73%
TFX	73 Outperform	$5.70B	30.39	4.36%	1.04%	1.11%	-23.73%
HAE	68 Neutral	$2.62B	16.60	18.27%	―	0.91%	45.81%
QDEL	58 Neutral	$1.95B	―	-14.80%	―	-3.00%	76.48%
MASI	54 Neutral	$8.00B	116.65	-20.54%	―	-8.36%	-669.36%
ICUI	53 Neutral	$3.10B	―	-1.78%	―	2.95%	47.92%
Sector *	51 Neutral	$7.95B	-0.40	-41.67%	2.21%	22.29%	-1.85%

ICU Medical Corporate Events

ICU Medical Stockholders Approve Key Proposals at Meeting

On May 13, 2025, ICU Medical, Inc. held its annual meeting of stockholders, where several key proposals were approved. The stockholders approved an amendment to the 2011 Stock Incentive Plan, increasing the number of shares available for issuance and for incentive stock options by 2,150,000 shares each. Additionally, the election of directors, the ratification of Deloitte & Touche LLP as the independent auditor, the executive officer compensation, and a stockholder proposal for simple majority voting were all approved.

The most recent analyst rating on (ICUI) stock is a Hold with a $183.00 price target. To see the full list of analyst forecasts on ICU Medical stock, see the ICUI Stock Forecast page.