Insulet Corp (PODD)
Health Care · Health Care Equipment · US stock · S&P 500 component
$148.12
▲ +6.22 (4.38%)
Fair valueUndervalued
$210 +42.1% to fair value
$105fair band $179–$255$316
Day's range
$142.47 – $148.35
52-week range
$126.40 – $354.88
About Insulet Corp
Insulet develops and sells the Omnipod, a small wearable insulin delivery device that people with diabetes attach to the body instead of using injections or a tubed pump. Revenue comes mainly from recurring sales of disposable pods, which are replaced regularly, along with the companion controller software. Products reach patients through pharmacies, distributors and healthcare providers, with reimbursement from insurers playing a central role in the business.
Revenue of $3.1 billion was recorded for the latest twelve months; sales grew 27.5% a year over the past three years. Insulet Corp converts that into an operating margin of 16.9%. Return on invested capital comes to 21%. Net debt to EBITDA is 0.7 times. It does not pay a dividend, and the X-Ray Score is 72 out of 100.
Price chart
52-wk range $126.40 – $354.88Volume 1,213,820Daily, split-adjusted
Vitals
Market cap$10.3B
52-week range$126.40 – $354.88
Volume (last day)1,213,820
P/E (TTM)27.8
EBIT / EV yield4.8%
Free-cash-flow yield2.9%
Dividend yieldNo dividend
Revenue (TTM)$3.1B
Net income (TTM)$375M
Operating margin16.9%
Return on capital21.3%
Debt incl. leases$948M
Cash & securities$535M
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$210middle half of models $181 – $251
Undervalued
+42.1% to fair value
Average of the 12 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is High, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Peak-cycle earnings: the current operating margin is more than 1.5x its 7-year average, so multiples applied to today's profit may overstate value; model uncertainty is set to High
Price $148
Undervalued < $179Fair $179 – $255Overvalued > $255
P/E multiple
$198
P/B multiple
$261
P/S multiple
$257
EV/EBITDA multiple
$213
EV/EBIT multiple · not used
$316
EV/revenue multiple
$231
10-year DCF, EBITDA exit
$248
5-year DCF, EBITDA exit
$258
10-year DCF, revenue exit
$243
5-year DCF, revenue exit
$249
10-year DCF, growth exit
$129
5-year DCF, growth exit
$124
Earnings power value
$114
Growth the price implies
17.1%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Average business at a low price
Our models put fair value above today's price, but models can be wrong, so check the business first. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Health Care peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Fair
68/100
Priced about in line with its sector.
See the numbers →
EBIT / EV yield4.8%
Free-cash-flow yield2.9%
Fair value vs price1.4×
Growth
Strong
91/100
Growing faster than most of its sector.
See the numbers →
Revenue growth (3y)27.5%
EPS growth (3y)267.7%
Growth consistency100%
Profitability
Fair
64/100
Returns on capital are typical for its sector.
See the numbers →
Return on invested capital21.3%
Operating margin16.9%
Gross profitability68.6%
Financial health
Fair
67/100
Balance sheet is in typical shape for its sector.
See the numbers →
Piotroski F-Score7 / 9
Net debt / EBITDA0.7×
Interest cover8.8×
Dividends
None
–/100
Pays no dividend.
See the numbers →
Quarterly results: last 6 quarters
+28.8%
Mar '25
+32.9%
Jun '25
+29.9%
Sep '25
+31.2%
Dec '25
+33.9%
Mar '26
+23.5%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $802M, diluted EPS $1.37.
Compare with peers
DXCM Dexcom Inc78 RMD Resmed Inc70 BSX Boston Scientific Corp67 IDXX Idexx Laboratories Inc66Other Health Care Equipment companies by X-Ray Score.
SWOT analysis: Insulet Corp
Strengthsinside the company
- Return on invested capital is 21.3%, against a median of 10.1% for industry peers.
- Revenue has grown 27.5% a year over three years (median 8.5% for industry peers).
- Earnings per share have compounded at 267.7% a year over three years.
- Passes 7 of the 9 Piotroski tests, which points to improving profitability, funding and efficiency.
Weaknessesinside the company
- No clear weakness in the figures we track.
Opportunitiesvaluation and setting
- The price is 42% below our fair value estimate, with the gap larger than the margin we allow for error.
Threatsvaluation and setting
- Valuation uncertainty is high: the models give widely different values, so the fair value range is wide.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare PODD with peers and sector
Medians of 15 Health Care Equipment peers and of 59 Health Care stocks in our universe.
Largest peers (X-Ray Score): ABT 41, ISRG 62, MDT 57, SYK 56, BSX 67, BDX 47.
| Metric | PODD | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 72 | 56 | 49 |
| Valuation | 68 | 57 | 52 |
| Growth | 91 | 66 | 47 |
| Profitability | 64 | 49 | 49 |
| Financial health | 67 | 55 | 48 |
| Dividends | – | 46 | 51 |
Sector leaders: highest X-Ray Score in Health Care
PODD ranks #3 of 60 in Health Care and #2 of 16 in Health Care Equipment by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for PODD
Each factor is rated by where PODD stands among the 60 Health Care stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 8 Good · 9 Average · 5 Bad of 22
Growth: 3 · 0 · 0
Profitability: 3 · 2 · 0
Financial strength: 2 · 2 · 0
Valuation: 0 · 3 · 2
Cash flow: 0 · 2 · 1
Efficiency: 0 · 0 · 2
| Factor | PODD | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +27.5% | Good beats 98% | +5.5% | – | – |
| Revenue growth, last year | +30.7% | Good beats 98% | +7.1% | +22.1% | ▲ Better |
| EPS growth, 3 years a year | +267.7% | Good beats 99% | +5.0% | – | – |
| Profitability | |||||
| Gross margin | 71.1% | Good beats 73% | 65.0% | 68.4% | ≈ In line |
| Operating margin | 16.9% | Average beats 51% | 16.4% | 13.0% | ▲ Better |
| Net margin | 12.3% | Average beats 51% | 11.1% | 9.1% | ▲ Better |
| Return on invested capital | 21.3% | Good beats 78% | 12.2% | – | – |
| Return on equity | 26.4% | Good beats 80% | 13.7% | 16.3% | ▲ Better |
| Financial strength | |||||
| Net debt / EBITDA | 0.7x | Good beats 79% | 2.0x | 2.4x | ▲ Better |
| Interest cover | 8.8x | Average beats 45% | 9.4x | 6.1x | ▲ Better |
| Current ratio | 2.48 | Good beats 81% | 1.52 | 3.58 | ▼ Worse |
| Piotroski F-score | 7 / 9 | Average beats 62% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 27.4x | Average beats 56% | 28.2x | 82.7x | ▲ Better |
| Price / book | 7.2x | Bad beats 28% | 3.7x | 21.8x | ▲ Better |
| Price / sales | 3.4x | Average beats 53% | 3.7x | 9.4x | ▲ Better |
| EV / EBITDA | 17.4x | Average beats 54% | 17.6x | 57.0x | ▲ Better |
| Free cash flow yield | 2.9% | Bad beats 26% | 4.4% | 0.4% | ▲ Better |
| Cash flow | |||||
| Free cash flow margin | 9.6% | Bad beats 27% | 16.3% | 4.1% | ▲ Better |
| Cash from operations / net income | 1.36 | Average beats 34% | 1.61 | 1.03 | ▲ Better |
| Accruals (lower is better) | −4.3% | Average beats 63% | −3.9% | – | – |
| Efficiency | |||||
| Inventory turnover | 1.8x | Bad beats 24% | 2.9x | 1.4x | ≈ In line |
| Days sales outstanding | 70 days | Bad beats 31% | 62 days | 45 days | ▼ Worse |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 10 Good · ● 4 Average · ● 1 BadCash quality
Earnings backed by cashAverage
Free-cash-flow yieldBad
Risk models
Altman Z''Good
Piotroski F-ScoreAverage
Growth
EPS growth (3y)Good
Revenue growth (3y)Good
Growth consistencyGood
Balance sheet
Current ratioGood
Net debt / EBITDAGood
Interest coverAverage
Valuation
Fair value vs priceGood
EBIT / EV yieldGood
Profitability
Return on invested capitalGood
Operating marginAverage
Gross profitabilityGood
Each check is graded against the company's sector, not a fixed number. Checklist score 72/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $1.1B | $1.3B | $1.7B | $2.1B | $2.7B |
| Operating income | $126M | $38M | $220M | $309M | $474M |
| Net income | $17M | $5M | $206M | $418M | $247M |
| Operating cash flow | −$68M | $119M | $146M | $430M | $569M |
| Operating margin | 11.5% | 2.9% | 13.0% | 14.9% | 17.5% |
| Free cash flow | −$180M | −$4M | $70M | $305M | $378M |
| Diluted EPS | $0.24 | $0.07 | $2.94 | $5.78 | $3.48 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bullish
9 bullish · 1 neutral · 6 bearish
Weekly
Bearish
3 bullish · 1 neutral · 8 bearish
Monthly
Strongly bearish
0 bullish · 1 neutral · 7 bearish
Moving averages (daily)
| SMA 10 | 140.2 | Bullish |
| EMA 10 | 141.0 | Bullish |
| SMA 20 | 136.8 | Bullish |
| EMA 20 | 139.3 | Bullish |
| SMA 50 | 140.4 | Bullish |
| EMA 50 | 141.8 | Bullish |
| SMA 100 | 147.7 | Bullish |
| EMA 100 | 152.9 | Bearish |
| SMA 200 | 182.9 | Bearish |
| EMA 200 | 180.6 | Bearish |
Oscillators (daily)
| RSI (14) | 64.93 | Neutral |
| MACD (12, 26) | 1.05 | Bullish |
| Momentum (12) | 9.94 | Bullish |
| Stochastic %K (14) | 98.66 | Bearish |
| Williams %R (14) | -1.34 | Bearish |
| CCI (20) | 172.1 | Bearish |
Pivot points (classic, last session)
S3 138.4 | S2 140.4 | S1 144.3 | Pivot 146.3 | R1 150.2 | R2 152.2 | R3 156.0 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
ETFs that hold PODD
| ETF | Share of the fund |
|---|---|
| IHI iShares U.S. Medical Devices | 1.63% |
| QGRO American Century U.S. Quality Growth | 0.78% |
| RPG Invesco S&P 500 Pure Growth | 0.74% |
| VBK Vanguard Small-Cap Growth | 0.30% |
| IWP iShares Russell Mid-Cap Growth | 0.29% |
| FMDE Fidelity Enhanced Mid Cap | 0.21% |
| RSP Invesco S&P 500 Equal Weight | 0.21% |
| IYH iShares U.S. Healthcare | 0.19% |
The eight funds with the largest weight in PODD among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
PODD SEC filings
8-KSEC EDGAR
Entered a material agreement
8-KSEC EDGAR
Director or officer change
8-KSEC EDGAR
Director or officer change
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Director or officer change; Regulation FD disclosure
8-KSEC EDGAR
Regulation FD disclosure
8-KSEC EDGAR
Shareholder vote results
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.