Haemonetics vs ICU Medical
ICU Medical reported revenue of $2.2 billion in fiscal 2025, 1.7 times Haemonetics' $1.3 billion in fiscal 2026. Haemonetics' revenue fell 2.0% in its latest year, and ICU Medical's fell 6.3%. Haemonetics had an operating margin of 11.8%, against 1.9% at ICU Medical. Free cash flow was $260 million at Haemonetics and $92 million at ICU Medical. Their fiscal years end in different months (March 28 and December 31), so the periods don't line up exactly.
Side by side
| Haemonetics | ICU Medical | |
|---|---|---|
| Latest fiscal year | FY2026, Mar 28, 2026 | FY2025, Dec 31, 2025 |
| Revenue | $1.3B | $2.2B |
| Revenue growth | −2.0% | −6.3% |
| Revenue growth a year, last 5 years | 8.9% | 11.9% |
| Gross margin | 59.0% | 36.8% |
| Operating margin | 11.8% | 1.9% |
| Net margin | 7.3% | 0.0% |
| Free cash flow | $260M | $92M |
| Free cash flow margin | 19.5% | 4.1% |
| Return on capital | 6.7% | 0.7% |
| Net debt to EBITDA | 3.7x | 4.0x |
| Dividends and buybacks | $175M | $9M |
| Change in diluted share count | −6.7% | 2.1% |
| Last close | $119.19 | $165.96 |
| P/E at the last close | 57.6× | 139.5× |
| Insider trades, last 12 months | bought $98,784, sold $0 | sold $8.3 million |
| Piotroski F-score | 7 of 9 | 6 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
HaemoneticsICU Medical
Operating margin
Percent of revenue
HaemoneticsICU Medical
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
HaemoneticsICU Medical
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Haemonetics and ICU Medical pages.