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Masimo Past Earnings Performance
Past criteria checks 5/6
Masimo's earnings have been declining at an average annual rate of -32.3%, while the Medical Equipment industry saw earnings growing at 14.8% annually. Revenues have been growing at an average rate of 5.8% per year. Masimo's return on equity is 27.5%, and it has net margins of 13.9%.
Key information
-32.28%
Earnings growth rate
-31.48%
EPS growth rate
| Medical Equipment Industry Growth | 8.90% |
| Revenue growth rate | 5.75% |
| Return on equity | 27.48% |
| Net Margin | 13.91% |
| Last Earnings Update | 04 Apr 2026 |
Recent past performance updates
Recent updates
Narrative Update • Jun 07
MASI: Patent Rulings And Merger Vote Will Shape Future Returns
Analysts have kept Masimo's fair value estimate steady at $180, with only modest tweaks to the discount rate and projected P/E assumptions driving the latest price target update. Analyst Commentary Recent Street research around Masimo points to a mixed but focused debate on valuation, execution, and the impact of corporate actions, especially in relation to broader medtech peers.Narrative Update • May 12
MASI: Cash Deal Terms And Legal Outcomes Will Shape Future Returns
Analysts held Masimo's fair value estimate steady at $180 per share, with only small tweaks to discount rate, growth, margin, and P/E assumptions as they factor in the agreed $180 per share cash acquisition by Danaher and recent shifts in research coverage and ratings. Analyst Commentary Recent research coverage on Masimo has shifted toward a more balanced stance after the agreed cash acquisition by Danaher at US$180 per share, with several firms resetting ratings and price targets around the deal terms.Narrative Update • Apr 23
MASI: Danaher Cash Offer And Legal And Deal Completion Risks Will Dominate
The analyst fair value estimate for Masimo has been adjusted from $177 to $180, with analysts pointing to the agreed $180 per share cash acquisition by Danaher as the key anchor for updated price targets and ratings. Analyst Commentary Recent research on Masimo has shifted from growth driven valuation debates to a focus on the agreed US$180 per share cash offer from Danaher as the primary reference point for fair value and ratings.Narrative Update • Apr 09
MASI: Danaher Cash Offer And Legal Outcomes Will Steer Deal Path
The analyst price target for Masimo has been trimmed by about $1.60 to $177.00, as analysts factor in a slightly higher discount rate and a modestly lower future P/E, while aligning expectations with the $180 per share cash acquisition offer from Danaher. Analyst Commentary Recent research on Masimo has become highly focused on the agreed cash acquisition by Danaher at $180 per share, with most coverage shifting from long term growth narratives to deal related outcomes and near term valuation anchor points.Narrative Update • Mar 25
MASI: Danaher Cash Offer And Patent Rulings Will Shape Deal Outcome
Analysts kept Masimo's fair value estimate steady at $178.60 while aligning their price targets around the agreed $180 per share cash acquisition by Danaher, with recent rating changes reflecting the view that any potential upside is now largely tied to the deal closing as planned. Analyst Commentary Recent research on Masimo centers on the agreed US$180 per share cash offer from Danaher, with ratings and targets now clustered around that level.Narrative Update • Mar 05
MASI: Danaher Cash Deal And Legal Overhang Will Frame Future Returns
The updated analyst price target for Masimo edges down by $0.15 to $178.60, as analysts anchor their views to Danaher's agreed $180 per share cash acquisition and recent rating moves to Neutral or No Rating. Analyst Commentary Recent research around Masimo has centered on the agreed US$180 per share cash acquisition by Danaher, with most analysts reframing their views around deal completion rather than standalone upside or downside.Narrative Update • Feb 18
MASI: Danaher Cash Buyout Will Define Future Returns And Key Risks
Analysts have trimmed their Masimo fair value estimate from $183.13 to $178.75 to align expectations with the agreed $180 per share cash acquisition by Danaher. This shift is reflected in new Hold and Neutral ratings that are centered around the $180 level.Seeking Alpha • Feb 17
Masimo: Danaher Acquisition Saves The Company From Lackluster Performance
Summary Masimo Corporation agreed to be acquired by Danaher for $180/share, valuing MASI at $9.9B. The acquisition offers a strong strategic fit, combining MASI's non-invasive oximetry with DHR's invasive diagnostics for comprehensive acute care solutions. Shareholders benefit from a 34% stock price surge and a potential 2.8% spread to deal close, with minimal market risk. Holding MASI shares until the deal closes offers a relatively safe, low-stress return, though opportunity cost and regulatory risk remain. Read the full article on Seeking AlphaNarrative Update • Nov 21
MASI: Renewed Philips Partnership Will Drive Outperformance Despite Market Challenges
Analysts have adjusted their price target for Masimo downward from approximately $188 to $183. This change is attributed to shifts in revenue growth estimates and a strengthening profit margin following recent partnership developments and ongoing market challenges.Analysis Article • Sep 12
Is Masimo Corporation (NASDAQ:MASI) Potentially Undervalued?
Masimo Corporation ( NASDAQ:MASI ), might not be a large cap stock, but it received a lot of attention from a...Analysis Article • Aug 01
Calculating The Fair Value Of Masimo Corporation (NASDAQ:MASI)
Key Insights Using the 2 Stage Free Cash Flow to Equity, Masimo fair value estimate is US$136 Masimo's US$154 share...Analysis Article • Jun 19
Is Masimo (NASDAQ:MASI) Using Too Much Debt?
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...Seeking Alpha • Apr 25
Masimo: Priced Dearly Given Uncertainty
Summary Masimo Corporation, a mid-cap healthcare firm, has a new CEO and is navigating considerable uncertainty. Some aspects of the company's divestiture of its consumer business are still unclear. Despite this, the stock is generally well liked within the analyst firm community, following solid Q4 results. An analysis around Masimo Corporation follows in the paragraphs below. Read the full article on Seeking AlphaSeeking Alpha • Dec 11
Masimo: A Stellar Performance After The Dust Has Settled
Summary Masimo's proxy fight and Sound United acquisition distracted from the core business, but resolution and focus on healthcare are driving value and momentum. Shares surged over 50% since July due to strong Q2 results and improved earnings guidance, despite ongoing challenges and leadership changes. Current valuations are demanding, suggesting an opportune time for profit taking, while I maintain a position for long-term growth potential. Divesting Sound United could reduce debt, enhancing focus on the core med-tech business with promising double-digit organic growth. Read the full article on Seeking AlphaRevenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Masimo makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 04 Apr 26 | 1,559 | 217 | 517 | 123 |
| 03 Jan 26 | 1,527 | 208 | 511 | 126 |
| 27 Sep 25 | 2,182 | -240 | 749 | 203 |
| 28 Jun 25 | 2,154 | -270 | 770 | 210 |
| 29 Mar 25 | 1,428 | 31 | 516 | 142 |
| 28 Dec 24 | 1,395 | 16 | 518 | 146 |
| 28 Sep 24 | 1,576 | 115 | 538 | 152 |
| 29 Jun 24 | 1,711 | 101 | 558 | 161 |
| 30 Mar 24 | 1,823 | 92 | 588 | 163 |
| 30 Dec 23 | 1,276 | 108 | 451 | 131 |
| 30 Sep 23 | 2,116 | 89 | 690 | 192 |
| 01 Jul 23 | 2,187 | 116 | 707 | 198 |
| 01 Apr 23 | 2,297 | 118 | 728 | 206 |
| 31 Dec 22 | 2,036 | 144 | 641 | 191 |
| 01 Oct 22 | 1,746 | 171 | 559 | 170 |
| 02 Jul 22 | 1,505 | 191 | 487 | 153 |
| 02 Apr 22 | 1,244 | 223 | 408 | 139 |
| 01 Jan 22 | 1,239 | 230 | 395 | 137 |
| 02 Oct 21 | 1,207 | 232 | 382 | 136 |
| 03 Jul 21 | 1,177 | 224 | 371 | 129 |
| 03 Apr 21 | 1,173 | 229 | 376 | 126 |
| 02 Jan 21 | 1,144 | 240 | 369 | 119 |
| 26 Sep 20 | 1,096 | 223 | 361 | 110 |
| 27 Jun 20 | 1,047 | 222 | 351 | 106 |
| 28 Mar 20 | 976 | 211 | 330 | 99 |
| 28 Dec 19 | 938 | 196 | 315 | 93 |
| 28 Sep 19 | 913 | 190 | 306 | 91 |
| 29 Jun 19 | 895 | 198 | 297 | 87 |
| 30 Mar 19 | 877 | 197 | 289 | 83 |
| 29 Dec 18 | 858 | 194 | 285 | 81 |
| 29 Sep 18 | 843 | 139 | 290 | 76 |
| 30 Jun 18 | 826 | 118 | 284 | 71 |
| 31 Mar 18 | 807 | 119 | 280 | 67 |
| 30 Dec 17 | 790 | 125 | 273 | 65 |
| 30 Sep 17 | 766 | 348 | 271 | 60 |
| 01 Jul 17 | 740 | 340 | 263 | 61 |
| 01 Apr 17 | 720 | 325 | 260 | 59 |
| 31 Dec 16 | 713 | 311 | 255 | 58 |
| 01 Oct 16 | 672 | 109 | 255 | 58 |
| 02 Jul 16 | 657 | 101 | 257 | 57 |
| 02 Apr 16 | 640 | 90 | 254 | 55 |
| 02 Jan 16 | 623 | 83 | 253 | 56 |
| 03 Oct 15 | 623 | 80 | 244 | 58 |
| 04 Jul 15 | 613 | 76 | 246 | 58 |
Quality Earnings: MASI has high quality earnings.
Growing Profit Margin: MASI's current net profit margins (13.9%) are higher than last year (0.8%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: MASI's earnings have declined by 32.3% per year over the past 5 years.
Accelerating Growth: MASI's earnings growth over the past year (1792.8%) exceeds its 5-year average (-32.3% per year).
Earnings vs Industry: MASI earnings growth over the past year (1792.8%) exceeded the Medical Equipment industry 15.7%.
Return on Equity
High ROE: MASI's Return on Equity (27.5%) is considered high.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/09 07:40 |
| End of Day Share Price | 2026/06/09 00:00 |
| Earnings | 2026/04/04 |
| Annual Earnings | 2026/01/03 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Masimo Corporation is covered by 21 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Michael Polark | Baird |
| Charley Jones | Barrington Research Associates, Inc. |
| Ravi Misra | Berenberg |