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PODDInsulet Corporation

Health care · Medical Instruments · Nasdaq
PODD quote by TradingView
Compare with peers → Embed
FY2025 at a glance

Sales up 30.7%, free cash flow up to $377.7M

XBRL, from each 10-K
RevenueStatements ↓
$2.7B
from $2.1B in FY2024
FY2016FY2025
Net incomeStatements ↓
$247.1M
from $418.3M in FY2024
FY2016FY2025
Free cash flowStatements ↓
$377.7M
from $305.3M in FY2024
FY2016FY2025
EPS (diluted)Statements ↓
$3.48
from $5.78 in FY2024
FY2016FY2025
Operating marginStatements ↓
17.5%
from 14.9% in FY2024
FY2016FY2025
Total debtStatements ↓
$949.2M
from $1.4B in FY2024
FY2016FY2025
Price and key numbers

The latest figures

All key numbers (41, from the latest 10-K and 10-Q) From EDGAR
EPS (ttm)6.12Sales (ttm)3.2BNet income (ttm)428.7MSales growth+30.7%EPS growth-39.8%Sales Q/Q+19.2%
Free cash flow260.0MGross margin71.9%Oper. margin18.4%Net margin13.4%FCF margin8.2%ROE27.1%
ROA12.6%R&D / sales11.1%Dividend-Debt/Eq0.61Curr. ratio2.51Cash584.4M
Op. cash flow (ttm)509.0MEBITDA564.2MEBITDA margin20.8%Net debt377.7MQuick ratio1.95Interest cover7.98
ROIC13.6%Tax rate27.2%Stock pay / sales2.3%Shares out.69.4MShares Y/Y-2.7%Book / share22.76
Cash / share8.42Sales / share45.97Asset turnover0.93Inventory turns1.70Days sales out.70Sales 3Y CAGR+27.5%
Sales 5Y CAGR+24.5%EPS 3Y CAGR+268%EPS 5Y CAGR+103%Employees5,400Sales / employee591K

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

Changes in the numbers

FY2025 against FY2024
  • Debt fell 31%$1.4B → $949.2M · Short-term + long-term debt at year end
  • Revenue growth sped up to +30.7%+22.1% → +30.7% · Revenue FY2025 / revenue FY2024 − 1, against the same a year earlier · 10-K ↗
  • Operating margin widened to 17.5%14.9% → 17.5% · Operating income / revenue · 10-K ↗
What management wrote about it → · Every company →

PODD against Health care peers

Ten years, side by side → · All 60 →
GrowthProfitBalanceCleanInsiders
PODDPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 60 companies, the better end on the right. Hover a dot for the company.

Sales growth
+30.7%2nd of 60 · median +7.1%
Net margin
13.4%26th of 60 · median 9.6%
Return on equity
27.1%9th of 54 · median 13.1%
Free cash flow margin
8.2%43rd of 56 · median 15.5%
Debt / equity (less is better)
0.6121st of 49 · median 0.66
PODD and the 5 peers closest in revenue
CompanyRevenue (ttm)Sales growthGross marginNet marginROEFCF marginDebt / equity
PODD Insulet Corporation$3.2B +30.7%71.9%13.4%27.1%8.2%0.61
CRL Charles River Laboratories$4.0B -0.9%-1.0%1.2%10.0%0.76
VEEV Veeva Systems$3.5B +16.3%75.0%29.3%13.7%--
WST West Pharmaceutical Services$3.4B +6.3%37.6%18.8%21.5%13.3%0.07
RVTY Revvity$2.9B +3.7%-8.2%3.3%19.2%0.44
MRNA Moderna$2.5B -39.9%28.0%-110.5%-40.8%-78.0%0.09
Where each dollar goes

From $1.1B of sales to $16.8M of profit

FY2021, from the 10-K income statement
Revenue to Gross profit: $752.1MRevenue to Cost of revenue: $346.7MGross profit to Operating profit: $126.0MGross profit to Operating expenses: $626.1MOperating profit to Net profit: $16.8MOperating profit to Tax & other: $109.2MOperating expenses to R&D: $160.1MOperating expenses to SG&A: $466.0M Revenue: $1.1B Revenue$1.1B +21% Y/Y Gross profit: $752.1M · 68% margin Gross profit$752.1M68% margin +29% Y/Y Cost of revenue: $346.7M · 32% of revenue Cost of revenue$346.7M32% of revenue Operating profit: $126.0M · 11% margin Operating profit$126.0M11% margin +145% Y/Y Operating expenses: $626.1M · 57% of revenue Operating expenses$626.1M57% of revenue Net profit: $16.8M · 2% margin Net profit$16.8M2% margin +147% Y/Y Tax & other: $109.2M · 10% of revenue Tax & other$109.2M10% of revenue R&D: $160.1M · 15% of revenue R&D$160.1M15% of revenue SG&A: $466.0M · 42% of revenue SG&A$466.0M42% of revenue

Swipe sideways for the whole flow →

From $1.3B of sales to $4.6M of profit

FY2022, from the 10-K income statement and revenue by product
U.S. to Revenue: $884.8MInternational to Revenue: $363.0MDrug Delivery to Revenue: $57.5MRevenue to Gross profit: $805.6MRevenue to Cost of revenue: $499.7MGross profit to Operating profit: $37.6MGross profit to Operating expenses: $768.0MOperating profit to Net profit: $4.6MOperating profit to Tax & other: $33.0MOperating expenses to R&D: $180.2MOperating expenses to SG&A: $587.8M U.S.: $884.8M · 68% U.S.$884.8M68% International: $363.0M · 28% International$363.0M28% Drug Delivery: $57.5M · 4% Drug Delivery$57.5M4% Revenue: $1.3B Revenue$1.3B +19% Y/Y Gross profit: $805.6M · 62% margin Gross profit$805.6M62% margin +7% Y/Y Cost of revenue: $499.7M · 38% of revenue Cost of revenue$499.7M38% of revenue Operating profit: $37.6M · 3% margin Operating profit$37.6M3% margin −70% Y/Y Operating expenses: $768.0M · 59% of revenue Operating expenses$768.0M59% of revenue Net profit: $4.6M · 0% margin Net profit$4.6M0% margin −73% Y/Y Tax & other: $33.0M · 3% of revenue Tax & other$33.0M3% of revenue R&D: $180.2M · 14% of revenue R&D$180.2M14% of revenue SG&A: $587.8M · 45% of revenue SG&A$587.8M45% of revenue

Swipe sideways for the whole flow →

From $1.7B of sales to $206.3M of profit

FY2023, from the 10-K income statement and revenue by product
U.S. to Revenue: $1.3BInternational to Revenue: $410.1MDrug Delivery to Revenue: $36.0MRevenue to Gross profit: $1.2BRevenue to Cost of revenue: $537.2MGross profit to Operating profit: $220.1MGross profit to Operating expenses: $939.8MOperating profit to Net profit: $206.3MOperating profit to Tax & other: $13.8MOperating expenses to R&D: $205.0MOperating expenses to SG&A: $734.8M U.S.: $1.3B · 74% U.S.$1.3B74% International: $410.1M · 24% International$410.1M24% Drug Delivery: $36.0M · 2% Drug Delivery$36.0M2% Revenue: $1.7B Revenue$1.7B +30% Y/Y Gross profit: $1.2B · 68% margin Gross profit$1.2B68% margin +44% Y/Y Cost of revenue: $537.2M · 32% of revenue Cost of revenue$537.2M32% of revenue Operating profit: $220.1M · 13% margin Operating profit$220.1M13% margin +485% Y/Y Operating expenses: $939.8M · 55% of revenue Operating expenses$939.8M55% of revenue Net profit: $206.3M · 12% margin Net profit$206.3M12% margin +4385% Y/Y Tax & other: $13.8M · 1% of revenue Tax & other$13.8M1% of revenue R&D: $205.0M · 12% of revenue R&D$205.0M12% of revenue SG&A: $734.8M · 43% of revenue SG&A$734.8M43% of revenue

Swipe sideways for the whole flow →

From $2.1B of sales to $418.3M of profit

FY2024, from the 10-K income statement and revenue by product
U.S. to Revenue: $1.5BInternational to Revenue: $523.4MDrug Delivery to Revenue: $38.9MRevenue to Gross profit: $1.4BRevenue to Cost of revenue: $625.9MGross profit to Operating profit: $308.9MGross profit to Operating expenses: $1.1BOperating profit to Net profit: $308.9MOther income to Net profit: $109.4MOperating expenses to R&D: $219.6MOperating expenses to SG&A: $917.2M U.S.: $1.5B · 73% U.S.$1.5B73% International: $523.4M · 25% International$523.4M25% Drug Delivery: $38.9M · 2% Drug Delivery$38.9M2% Revenue: $2.1B Revenue$2.1B +22% Y/Y Gross profit: $1.4B · 70% margin Gross profit$1.4B70% margin +25% Y/Y Cost of revenue: $625.9M · 30% of revenue Cost of revenue$625.9M30% of revenue Operating profit: $308.9M · 15% margin Operating profit$308.9M15% margin +40% Y/Y Other income: $109.4M · 5% of revenue Other income$109.4M5% of revenue Operating expenses: $1.1B · 55% of revenue Operating expenses$1.1B55% of revenue Net profit: $418.3M · 20% margin Net profit$418.3M20% margin +103% Y/Y R&D: $219.6M · 11% of revenue R&D$219.6M11% of revenue SG&A: $917.2M · 44% of revenue SG&A$917.2M44% of revenue

Swipe sideways for the whole flow →

From $2.7B of sales to $247.1M of profit

FY2025, from the 10-K income statement and revenue by product
U.S. to Revenue: $1.9BInternational to Revenue: $754.3MDrug Delivery to Revenue: $34.1MRevenue to Gross profit: $1.9BRevenue to Cost of revenue: $768.2MGross profit to Operating profit: $473.8MGross profit to Operating expenses: $1.5BOperating profit to Net profit: $247.1MOperating profit to Tax & other: $226.7MOperating expenses to R&D: $301.1MOperating expenses to SG&A: $1.2B U.S.: $1.9B · 71% U.S.$1.9B71% International: $754.3M · 28% International$754.3M28% Drug Delivery: $34.1M · 1% Drug Delivery$34.1M1% Revenue: $2.7B Revenue$2.7B +31% Y/Y Gross profit: $1.9B · 72% margin Gross profit$1.9B72% margin +34% Y/Y Cost of revenue: $768.2M · 28% of revenue Cost of revenue$768.2M28% of revenue Operating profit: $473.8M · 17% margin Operating profit$473.8M17% margin +53% Y/Y Operating expenses: $1.5B · 54% of revenue Operating expenses$1.5B54% of revenue Net profit: $247.1M · 9% margin Net profit$247.1M9% margin −41% Y/Y Tax & other: $226.7M · 8% of revenue Tax & other$226.7M8% of revenue R&D: $301.1M · 11% of revenue R&D$301.1M11% of revenue SG&A: $1.2B · 43% of revenue SG&A$1.2B43% of revenue

Swipe sideways for the whole flow →

Where each $100 of sales went

FY2021
FY2022
FY2023
FY2024
FY2025
  • Cost of revenue
  • R&D
  • Sales, admin & other
  • Tax & other
  • Net profit

Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →

Profitability

3 of 4
  • ✓
    Net margin above the peer median13.4% vs 9.6%
  • ✓
    Gross margin up over 5 years64.4% → 71.6%
  • ✓
    Return on equity above 15%27.1%
  • !
    A profit in 8 of 10 years
Net margin, FY2016 to FY2025: -7.9% → 9.1%

Balance sheet

4 of 4
  • ✓
    Interest covered more than 5 timesOperating income is 8.0× interest expense
  • ✓
    Debt smaller than equityDebt / equity 0.61 on the latest balance sheet (peer median 0.66)
  • ✓
    Current assets cover current liabilitiesCurrent ratio 2.51
  • ✓
    Net debt under 3 years of free cash flow$377.7M net debt, 1.5 years
Debt / equity at each year end, FY2016 to FY2025: 5.27 → 0.63
What the debt is made of ↓

Cash and shareholders

1 of 3
  • !
    Free cash flow positive in 3 of 10 years$377.7M last year
  • !
    Share count up over 5 years+9.0%
  • ✓
    Cash from operations above net income$569.3M vs $247.1M
Free cash flow, FY2016 to FY2025: -6.2M → 377.7M

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

Debt

$59.9M of principal due, schedule of Dec 31, 2025

Repayment schedule →

From the balance sheet in the latest 10-K or 10-Q (XBRL). When each part falls due, year by year, and the debt note's own lines are on the Debt tab.

Revenue and net income, FY2016 to FY2025

Revenue 2.7B Net income 247.1M
FY2016 revenue 367.0M · RevenueFromContractWithCustomerExcludingAssessedTax, 0001145197-19-000003 FY2016 net income -28.9M · NetIncomeLoss, 0001145197-19-000003 367.0M FY2016 FY2017 revenue 463.8M · RevenueFromContractWithCustomerExcludingAssessedTax, 0001145197-20-000004 FY2017 net income -26.8M · NetIncomeLoss, 0001145197-20-000004 463.8M FY2017 FY2018 revenue 563.8M · RevenueFromContractWithCustomerExcludingAssessedTax, 0001145197-21-000009 FY2018 net income 3.3M · NetIncomeLoss, 0001145197-21-000009 563.8M FY2018 FY2019 revenue 738.2M · RevenueFromContractWithCustomerExcludingAssessedTax, 0001145197-22-000012 FY2019 net income 11.6M · NetIncomeLoss, 0001145197-22-000012 738.2M FY2019 FY2020 revenue 904.4M · RevenueFromContractWithCustomerExcludingAssessedTax, 0001145197-23-000020 FY2020 net income 6.8M · NetIncomeLoss, 0001145197-23-000020 904.4M FY2020 FY2021 revenue 1.1B · Revenues, 0001145197-24-000011 FY2021 net income 16.8M · NetIncomeLoss, 0001145197-24-000011 1.1B FY2021 FY2022 revenue 1.3B · Revenues, 0001145197-25-000007 FY2022 net income 4.6M · NetIncomeLoss, 0001145197-25-000007 1.3B FY2022 FY2023 revenue 1.7B · Revenues, 0001145197-26-000028 FY2023 net income 206.3M · NetIncomeLoss, 0001145197-26-000028 1.7B FY2023 FY2024 revenue 2.1B · Revenues, 0001145197-26-000028 FY2024 net income 418.3M · NetIncomeLoss, 0001145197-26-000028 2.1B FY2024 FY2025 revenue 2.7B · Revenues, 0001145197-26-000028 FY2025 net income 247.1M · NetIncomeLoss, 0001145197-26-000028 2.7B FY2025

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

Statements

Income statement, balance sheet and cash flow

XBRL, each 10-K and 10-Q

PODD's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly
Revenue2.7B
FY2016: 367.0MFY2017: 463.8MFY2018: 563.8MFY2019: 738.2MFY2020: 904.4MFY2021: 1.1BFY2022: 1.3BFY2023: 1.7BFY2024: 2.1BFY2025: 2.7B FY2017FY2019FY2021FY2023FY2025
Net income247.1M
FY2016: -28.9MFY2017: -26.8MFY2018: 3.3MFY2019: 11.6MFY2020: 6.8MFY2021: 16.8MFY2022: 4.6MFY2023: 206.3MFY2024: 418.3MFY2025: 247.1M FY2017FY2019FY2021FY2023FY2025
Free cash flow377.7M
FY2016: -6.2MFY2017: -32.5MFY2018: -121.5MFY2019: -65.3MFY2020: -45.0MFY2021: -180.0MFY2022: -3.9MFY2023: 70.1MFY2024: 305.3MFY2025: 377.7M FY2017FY2019FY2021FY2023FY2025
EPS (diluted)3.48
FY2016: -0.48FY2017: -0.46FY2018: 0.05FY2019: 0.19FY2020: 0.10FY2021: 0.24FY2022: 0.07FY2023: 2.94FY2024: 5.78FY2025: 3.48 FY2017FY2019FY2021FY2023FY2025
Diluted shares71.9M
FY2016: 57.3MFY2017: 58.0MFY2018: 61.0MFY2019: 62.3MFY2020: 65.9MFY2021: 68.6MFY2022: 69.9MFY2023: 73.6MFY2024: 73.9MFY2025: 71.9M FY2017FY2019FY2021FY2023FY2025

Revenue by product or service

year to Dec 31, 2025
RevenueSharevs year before
Total Omnipod products 2.7B98.7% +31.5%
U.S. 1.9B70.9% +27.2%
International 754.3M27.9% +44.1%
Drug Delivery 34.1M1.3% -12.3%

10-K 0001145197-26-000028, segment and revenue notes (XBRL).

Revenue by region

year to Dec 31, 2025
RevenueSharevs year before
U.S. 2.0B72.2% +26.2%
International 754.3M27.9% +44.1%

10-K 0001145197-26-000028, segment and revenue notes (XBRL).

Income statement

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue367.0M463.8M563.8M738.2M904.4M1.1B1.3B1.7B2.1B2.7B
Cost of revenue155.9M186.6M193.6M257.9M322.1M346.7M499.7M537.2M625.9M768.2M
Gross profit211.1M277.2M370.2M480.3M582.3M752.1M805.6M1.2B1.4B1.9B
R&D55.7M75.7M94.8M132.3M146.8M160.1M180.2M205.0M219.6M301.1M
SG&A71.6M84.7M248.0M298.0M384.0M466.0M587.8M734.8M917.2M1.2B
Operating income-10.7M-7.4M27.4M50.0M51.5M126.0M37.6M220.1M308.9M473.8M
Interest expense14.4M21.2M28.9M34.6M48.1M61.7M36.0M36.2M42.7M59.4M
Pretax income-26.8M-26.6M5.2M14.5M9.7M20.5M9.8M214.7M300.2M339.5M
Income tax392K200K1.9M2.9M2.9M3.7M5.2M8.3M-118.1M92.4M
Net income-28.9M-26.8M3.3M11.6M6.8M16.8M4.6M206.3M418.3M247.1M
EPS (diluted)-0.48-0.460.050.190.100.240.072.945.783.48
Diluted shares57.3M58.0M61.0M62.3M65.9M68.6M69.9M73.6M73.9M71.9M
Depreciation & amortization13.8M13.9M15.6M27.9M55.4M57.4M63.2M72.8M80.8M90.4M
EBITDA3.1M6.5M43.0M77.9M106.9M183.4M100.8M292.9M389.7M564.2M
Gross margin57.5%59.8%65.7%65.1%64.4%68.4%61.7%68.3%69.8%71.6%
Operating margin-2.9%-1.6%4.9%6.8%5.7%11.5%2.9%13.0%14.9%17.5%
Net margin-7.9%-5.8%0.6%1.6%0.8%1.5%0.4%12.2%20.2%9.1%
Revenue growth-+26.4%+21.6%+30.9%+22.5%+21.5%+18.8%+30.0%+22.1%+30.7%
EPS growth---+280%-47.4%+140%-70.8%+4100%+96.6%-39.8%

Balance sheet

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash137.2M272.6M113.9M213.7M907.2M806.4M689.8M704.2M953.4M716.1M
Short-term investments--175.0M162.4M40.4M0----
Receivables28.8M53.4M63.3M69.3M95.3M135.2M140.9M--516.9M
Inventory35.5M33.8M71.4M101.0M154.3M303.2M346.8M402.6M430.4M452.6M
Current assets370.0M537.2M461.3M591.0M1.2B1.3B1.3B1.6B1.9B1.9B
Property & equipment44.8M107.9M258.4M399.4M478.7M536.5M599.9M---
Goodwill39.7M39.8M39.6M39.8M39.8M39.8M51.7M51.7M51.5M51.6M
Total assets456.6M816.7M928.7M1.1B1.9B2.0B2.3B2.6B3.1B3.2B
Accounts payable13.2M24.4M25.5M54.5M54.1M37.7M30.8M19.2M19.8M75.0M
Current liabilities55.7M86.0M115.7M157.7M207.8M228.8M364.7M451.2M528.4M680.1M
Total debt332.8M566.2M592.0M887.9M1.1B1.3B1.4B1.4B1.4B949.2M
Total liabilities393.5M658.2M716.6M1.1B1.3B1.5B1.8B1.9B1.9B1.7B
Shareholders' equity63.1M158.5M212.1M75.9M603.6M556.3M476.4M732.7M1.2B1.5B
Retained earnings-680.4M-707.3M-683.6M-672.0M-666.3M-649.5M-584.3M-378.0M40.3M287.4M

Cash flow

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow15.9M41.3M35.9M98.4M84.0M-68.1M119.0M145.7M430.2M569.3M
Capital spending22.1M73.8M157.4M163.7M129.0M111.9M122.9M75.6M124.9M191.6M
Free cash flow-6.2M-32.5M-121.5M-65.3M-45.0M-180.0M-3.9M70.1M305.3M377.7M
Stock-based pay (added back)23.6M31.9M37.5M28.7M35.9M34.4M40.9M48.4M69.3M62.7M
Buybacks-------0059.6M
Acquisitions00--0026.0M3.0M0-
Debt raised333.7M391.6M0780.2M---00440.7M
Investing cash flow-178.0M-210.8M-184.5M-73.6M14.0M-82.7M-191.1M-119.4M-146.2M-222.7M
Financing cash flow176.6M304.5M-8.7M73.5M605.5M40.7M-40.3M-13.6M-28.0M-595.3M

Stock-based pay and leases

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Stock-based pay (expense)23.6M31.9M37.5M28.7M35.9M34.4M40.9M48.4M69.3M62.7M
Stock-based pay / revenue6.4%6.9%6.7%3.9%4.0%3.1%3.1%2.9%3.3%2.3%
Operating lease cost---4.3M5.4M6.0M8.8M8.8M7.3M10.6M
Operating lease cash paid---3.6M4.6M5.7M4.6M5.7M5.8M6.2M
Finance lease principal paid----0015.3M022.7M0
Right-of-use assets---16.1M14.9M9.9M26.0M27.9M36.7M43.7M
Operating lease liabilities---18.0M16.9M12.6M31.0M33.0M42.1M51.9M
Finance lease liabilities-------22.9M42.1M0

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

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