Insulet (PODD) | Financial Analysis & Statements
Insulet Corporation Large-cap Healthcare
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Dec 2025Income Metrics
Revenue
783.8M
Gross Profit
568.6M
72.54%
Operating Income
146.3M
18.67%
Net Income
101.6M
12.96%
EPS (Diluted)
$1.44
Balance Sheet Metrics
Total Assets
3.2B
Total Liabilities
1.7B
Shareholders Equity
1.5B
Debt to Equity
1.11
Cash Flow Metrics
Operating Cash Flow
132.2M
Free Cash Flow
33.9M
Revenue & Profitability Trend
Quarter Income Flow
Dec 31, 2025
Annual Income Flow
2025
Insulet Income Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 2.7B | 2.1B | 1.7B | 1.3B | 1.1B |
| Cost of Goods Sold | 768.2M | 625.9M | 537.2M | 499.7M | 346.7M |
| Gross Profit | 1.9B | 1.4B | 1.2B | 805.6M | 752.1M |
| Gross Margin % | 71.6% | 69.8% | 68.3% | 61.7% | 68.4% |
| Operating Expenses | |||||
| Research & Development | 301.1M | 219.6M | 205.0M | 180.2M | 160.1M |
| Selling, General & Administrative | 1.2B | 917.2M | 734.9M | 587.8M | 466.0M |
| Other Operating Expenses | - | - | - | - | - |
| Total Operating Expenses | 1.5B | 1.1B | 939.9M | 768.0M | 626.1M |
| Operating Income | 473.8M | 308.9M | 220.0M | 37.6M | 126.0M |
| Operating Margin % | 17.5% | 14.9% | 13.0% | 2.9% | 11.5% |
| Non-Operating Items | |||||
| Interest Income | 34.7M | 39.5M | 28.6M | 9.3M | 500.0K |
| Interest Expense | 59.4M | 42.7M | 36.2M | 36.0M | 61.7M |
| Other Non-Operating Income | -109.6M | -5.5M | 2.2M | -1.1M | -44.3M |
| Pre-tax Income | 339.5M | 300.2M | 214.6M | 9.8M | 20.5M |
| Income Tax | 92.4M | -118.1M | 8.3M | 5.2M | 3.7M |
| Effective Tax Rate % | 27.2% | -39.3% | 3.9% | 53.1% | 18.0% |
| Net Income | 247.1M | 418.3M | 206.3M | 4.6M | 16.8M |
| Net Margin % | 9.1% | 20.2% | 12.2% | 0.4% | 1.5% |
| Key Metrics | |||||
| EBITDA | 600.7M | 423.7M | 323.6M | 109.0M | 182.0M |
| EPS (Basic) | - | $5.97 | $2.96 | $0.07 | $0.25 |
| EPS (Diluted) | - | $5.78 | $2.94 | $0.07 | $0.24 |
| Basic Shares Outstanding | - | 70076000 | 69751000 | 69375000 | 67698000 |
| Diluted Shares Outstanding | - | 70076000 | 69751000 | 69375000 | 67698000 |
Income Statement Trend
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Insulet Balance Sheet From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 716.1M | 953.4M | 704.2M | 674.2M | 790.0M |
| Short-term Investments | - | - | - | - | 0 |
| Accounts Receivable | 511.3M | 357.2M | 359.7M | 205.6M | 161.0M |
| Inventory | 452.6M | 430.4M | 402.6M | 346.8M | 303.2M |
| Other Current Assets | 228.3M | 142.0M | 116.4M | 86.9M | 74.0M |
| Total Current Assets | 1.9B | 1.9B | 1.6B | 1.3B | 1.3B |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 0 | 0 | 0 | 0 | 0 |
| Goodwill | 220.3M | 201.5M | 202.1M | 178.9M | 116.2M |
| Intangible Assets | 117.1M | 98.5M | 98.7M | 75.5M | 36.6M |
| Long-term Investments | - | - | - | - | - |
| Other Non-Current Assets | 288.2M | 323.3M | 190.0M | 210.0M | 106.1M |
| Total Non-Current Assets | 1.3B | 1.2B | 1.0B | 937.1M | 719.0M |
| Total Assets | 3.2B | 3.1B | 2.6B | 2.3B | 2.0B |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | 75.0M | 19.8M | 19.2M | 30.8M | 37.7M |
| Short-term Debt | 18.4M | 96.0M | 49.4M | 27.5M | 25.1M |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | 113.8M | 68.9M | 68.8M | 50.7M | - |
| Total Current Liabilities | 680.1M | 528.4M | 451.2M | 364.7M | 228.8M |
| Non-Current Liabilities | |||||
| Long-term Debt | 930.8M | 1.3B | 1.4B | 1.4B | 1.2B |
| Deferred Tax Liabilities | - | - | - | - | - |
| Other Non-Current Liabilities | 64.2M | 51.6M | 37.9M | 35.7M | 14.9M |
| Total Non-Current Liabilities | 995.0M | 1.3B | 1.4B | 1.4B | 1.3B |
| Total Liabilities | 1.7B | 1.9B | 1.9B | 1.8B | 1.5B |
| Equity | |||||
| Common Stock | 100.0K | 100.0K | 100.0K | 100.0K | 100.0K |
| Retained Earnings | 287.4M | 40.3M | -378.0M | -584.3M | -649.5M |
| Treasury Stock | 60.4M | - | - | - | - |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 1.5B | 1.2B | 732.7M | 476.4M | 556.3M |
| Key Metrics | |||||
| Total Debt | 949.2M | 1.4B | 1.4B | 1.4B | 1.3B |
| Working Capital | 1.2B | 1.4B | 1.1B | 949.3M | 1.1B |
Balance Sheet Composition
Insulet Cash Flow Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | 247.1M | 418.3M | 206.3M | 4.6M | 16.8M |
| Depreciation & Amortization | 90.4M | 80.8M | 72.8M | 63.2M | 57.4M |
| Stock-Based Compensation | 62.7M | 69.3M | 48.3M | 40.9M | 34.4M |
| Working Capital Changes | -101.6M | -40.6M | -218.8M | -103.3M | -241.3M |
| Operating Cash Flow | 374.0M | 403.1M | 115.2M | 14.0M | -91.3M |
| Investing Activities | |||||
| Capital Expenditures | - | - | - | - | - |
| Acquisitions | - | 0 | -3.0M | -26.0M | 0 |
| Investment Purchases | 0 | -12.2M | -7.2M | -7.8M | 0 |
| Investment Sales | - | - | 0 | 0 | 40.0M |
| Investing Cash Flow | -3.3M | -12.2M | -10.2M | -33.8M | 40.0M |
| Financing Activities | |||||
| Share Repurchases | -59.6M | - | - | - | - |
| Dividends Paid | - | - | - | - | - |
| Debt Issuance | 506.1M | 175.5M | 0 | 0 | 532.6M |
| Debt Repayment | -1.2B | -216.1M | -27.0M | -39.8M | -483.2M |
| Financing Cash Flow | -793.8M | -48.2M | -40.5M | -56.6M | 17.2M |
| Free Cash Flow | 349.9M | 296.3M | 36.5M | -38.3M | -190.8M |
| Net Change in Cash | -423.1M | 342.7M | 64.5M | -76.4M | -34.1M |
Cash Flow Trend
Insulet Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
55.27
Forward P/E
23.80
Price to Book
8.93
Price to Sales
5.00
PEG Ratio
23.80
Profitability Ratios
Profit Margin
9.12%
Operating Margin
18.67%
Return on Equity
18.12%
Return on Assets
9.43%
Financial Health
Current Ratio
2.81
Debt to Equity
66.18
Beta
1.47
Per Share Data
EPS (TTM)
$3.48
Book Value per Share
$21.53
Revenue per Share
$38.50
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| PODD | 13.5B | 55.27 | 8.93 | 18.12% | 9.12% | 66.18 |
| Abbott Laboratories | 160.7B | 25.97 | 3.09 | 12.36% | 13.90% | 26.79 |
| Stryker | 126.3B | 39.21 | 5.62 | 15.08% | 12.92% | 72.97 |
| Medtronic plc | 107.6B | 23.47 | 2.20 | 9.39% | 13.00% | 57.06 |
| Boston Scientific | 97.6B | 27.49 | 4.02 | 11.84% | 17.29% | 48.92 |
| Edwards Lifesciences | 48.5B | 46.49 | 4.73 | 10.38% | 17.39% | 6.82 |
Financial data is updated regularly. All figures are in the company's reporting currency.






