The business behind the dividend
| Measure | IRMD | Median | Formula |
|---|---|---|---|
| Return on equity | 23.8% | 11.7% | Net income ÷ shareholders’ equity |
| Return on capital employed | — | — | Operating income ÷ (equity + total debt) |
| Owner earnings | $15.88m | $632.00m | Net income + depreciation & amortisation − capital expenditure |
| Free cash flow | $17.18m | $746.10m | Operating cash flow − capital expenditure |
| Operating margin | 31.2% | 15.0% | Operating income ÷ revenue |
| Net margin | 26.8% | 10.2% | Net income ÷ revenue |
| Debt to equity | — | — | Total debt ÷ shareholders’ equity |
| Interest cover | — | — | Operating income ÷ interest expense |
| Current ratio | 7.98x | 1.25x | Current assets ÷ current liabilities |
| Long-term debt to working capital | — | — | Long-term debt ÷ (current assets − current liabilities) |
| Cash conversion | 1.11x | 1.78x | Operating cash flow ÷ net income |
Not computed here: Debt to equity, Long-term debt to working capital, Interest cover, Return on capital employed — why a blank is not a zero.
Ten years of it
The same measures, for every year the filings support. One year is a fact; a row is a business.
| Measure | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | Median |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on equity | 23.8% | 22.2% | 24.1% | 17.4% | 12.9% | 2.2% | 17.3% | 15.0% | 1.5% | 22.6% | 17.3% |
| Operating margin | 31.2% | 30.0% | 30.6% | 29.3% | 23.5% | -2.4% | 22.5% | 19.7% | 5.6% | 33.6% | 23.5% |
| Net margin | 26.8% | 26.3% | 26.2% | 24.1% | 22.3% | 4.3% | 25.0% | 20.7% | 2.2% | 22.2% | 22.3% |
| Current ratio | 7.98x | 8.84x | 4.65x | 9.06x | 11.18x | 12.96x | 10.06x | 9.50x | 8.61x | 9.25x | 9.06x |
| Cash conversion | 1.11x | 1.33x | 0.78x | 0.78x | 1.21x | 4.25x | 1.06x | 1.17x | 6.84x | 1.30x | 1.17x |
How it compares in health care
Among the 38 health care companies here measured on free cash flow, Iradimed pays out less than 4 of them. The median for that group is 39.3%, against this company’s 87.5%.
Closest on free cash flow
- Merck (MRK) 66.1%
- Medtronic (MDT) 67.1%
- Baxter International (BAX) 104.8%
- Pfizer (PFE) 107.7%
Same sector and same denominator, so the figures are comparable. All 44 in health care →