A Business at a Glance
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IRADIMED CORP
IRMD
$1.2B
Mkt Cap
$94.49
+0.67%
IRADIMED CORP (IRMD) has a current P/E ratio of 57.3, compared to its historical median P/E of 33.3. The stock is currently considered Expensive based on its historical valuation range.
IRADIMED CORP (IRMD) has a 5-year average return on invested capital (ROIC) of 73.6%. This indicates strong capital allocation and a potential competitive advantage.
IRADIMED CORP (IRMD) has a market capitalization of $1.2B. It is classified as a small-cap stock.
Yes, IRADIMED CORP (IRMD) pays a dividend with a trailing twelve-month yield of 1.28%.
Based on historical P/E analysis, IRADIMED CORP (IRMD) appears expensive. The current P/E of 57.3 is 72% above its historical median of 33.3. The estimated fair value CAGR (P/E method) is 27.7%.
IRADIMED CORP (IRMD) operates in the Surgical & Medical Instruments & Apparatus industry, within the Healthcare sector.
IRADIMED CORP (IRMD) reported annual revenue of $84 million in its most recent fiscal year, based on SEC EDGAR filings.
ITEM 1. BUSINESS IRADIMED CORPORATION (“IRadimed”, the “Company,” “we,” “us,” “our” or similar terms) develops, manufactures, markets and distributes Magnetic Resonance Imaging (“MRI”) compatible medical devices and related accessories, disposables and services relating to them. We were originally incorporated in Oklahoma under the name IRI Development, Inc. in 1992, and we merged our Oklahoma corporation into the newly formed Delaware corporation, IRADIMED CORPORATION, in April 2014. MRidium® 3870 MRI Compatible IV Infusion Pump System We are the only known provider of a non-magnetic intravenous (“IV”) infusion pump system that is specifically designed to be safe for use during MRI procedures and operates dependably in magnetic fields up to 15,000 gauss. We were the first to develop an infusion delivery system that largely eliminates many of the dangers and problems present during MRI procedures.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 86M | 84M | 73M | 66M | 53M | 42M |
| Net Income | 24M | 22M | 19M | 17M | 13M | 9.3M |
| EPS | $1.85 | $1.75 | $1.50 | $1.35 | $1.02 | $0.74 |
| Free Cash Flow | 24M | 17M | 18M | 6.0M | 9.2M | 11M |
| ROIC | 51.9% | 53.1% | 61.7% | 80.4% | 88.2% | 84.4% |
| Gross Margin | 76.8% | 76.7% | 76.9% | 76.5% | 77.4% | 76.6% |
| Debt/Equity | 0.00 | 0.15 | 0.00 | 0.03 | 0.03 | 0.03 |
| Dividends/Share | $1.21 | $1.17 | $1.07 | $1.04 | $1.00 | - |
| Operating Income | 28M | 26M | 22M | 20M | 16M | 9.8M |
| Operating Margin | 32.4% | 31.2% | 30.0% | 30.6% | 29.3% | 23.5% |
| ROE | 24.0% | 24.8% | 24.3% | 23.7% | 17.6% | 14.0% |
| Shares Outstanding | 13M | 13M | 13M | 13M | 13M | 13M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 16M | 32M | 32M | 23M | 30M | 39M | 32M | 42M | 53M | 66M | 73M | 84M | 86M |
| Gross Margin | 78.3% | 69.6% | 67.9% | 75.9% | 76.3% | 77.1% | 74.3% | 76.6% | 77.4% | 76.5% | 76.9% | 76.7% | 76.8% |
| R&D | 1.1M | 1.8M | 1.3M | 1.7M | 1.5M | 1.4M | 1.9M | 1.9M | 2.3M | 2.9M | 2.8M | 3.0M | 3.3M |
| SG&A | 4.8M | 7.8M | 8.8M | 9.0M | 8.7M | 10M | 12M | 9.8M | 11M | 15M | 16M | 18M | 18M |
| EBIT | 3.1M | 12M | 11M | 1.3M | 6.0M | 8.6M | -756K | 9.8M | 16M | 20M | 22M | 26M | 28M |
| Op. Margin | 19.6% | 36.4% | 33.6% | 5.6% | 19.7% | 22.5% | -2.4% | 23.5% | 29.3% | 30.6% | 30.0% | 31.2% | 32.4% |
| Net Income | 2.1M | 7.5M | 7.2M | 500K | 6.3M | 9.6M | 1.4M | 9.3M | 13M | 17M | 19M | 22M | 24M |
| Net Margin | 13.1% | 23.8% | 22.2% | 2.2% | 20.7% | 25.0% | 4.3% | 22.3% | 24.1% | 26.2% | 26.3% | 26.8% | 27.4% |
| Non-Recurring | 62K | 48K | 94K | 69K | 112K | 48K | 81K | 113K | 56K | 169K | 84K | 250K | 250K |
| Returns on Capital | |||||||||||||
| ROIC | 59.0% | 23.3% | 22.6% | 1.4% | 14.6% | 75.3% | 2.3% | 84.4% | 88.2% | 80.4% | 61.7% | 53.1% | 51.9% |
| ROE | 15.6% | 28.5% | 22.6% | 1.5% | 16.8% | 19.8% | 2.3% | 14.0% | 17.6% | 23.7% | 24.3% | 24.8% | 24.0% |
| ROA | 13.5% | 25.7% | 19.9% | 1.3% | 14.4% | 16.7% | 2.0% | 12.1% | 15.2% | 19.4% | 20.2% | 21.7% | 20.6% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 2.6M | 7.6M | 9.4M | 3.4M | 7.4M | 10M | 5.8M | 11M | 10M | 13M | 26M | 25M | 29M |
| Free Cash Flow | 2.0M | 7.4M | 8.6M | 2.6M | 7.1M | 9.9M | 5.4M | 11M | 9.2M | 6.0M | 18M | 17M | 24M |
| Owner Earnings | 1.7M | 5.6M | 6.6M | -347K | 4.5M | 7.1M | 517K | 8.4M | 8.0M | 11M | 22M | 21M | 25M |
| CapEx | 584K | 299K | 781K | 776K | 228K | 368K | 443K | 482K | 823K | 7.4M | 8.0M | 7.8M | 4.5M |
| Maint. CapEx | 149K | 807K | 956K | 1.3M | 1.1M | 1.2M | 1.3M | 1.4M | 671K | 765K | 818K | 1.2M | 1.4M |
| Growth CapEx | 435K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 152K | 6.7M | 7.2M | 6.6M | 3.0M |
| D&A | 149K | 807K | 956K | 1.3M | 1.1M | 1.2M | 1.3M | 1.4M | 671K | 765K | 818K | 1.2M | 1.4M |
| CapEx/OCF | 22.6% | 3.9% | 8.3% | 22.7% | 3.1% | 3.6% | 7.6% | 4.3% | 8.2% | 55.3% | 31.2% | N/A | 15.4% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 13M | 13M | 14M | 15M | 15M |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 2.9% | 2.6% | 2.4% | N/A | 1.3% |
| Share Buybacks | 0 | 0 | 10.0M | 1.8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | 8.0% | 1.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% | 0.0% |
| Stock-Based Comp | 724K | 1.2M | 1.8M | 2.5M | 1.8M | 1.9M | 4.0M | 1.5M | 1.4M | 2.2M | 2.5M | 2.9M | 2.8M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -17M | N/A | N/A | N/A | N/A | -43M | -49M | -60M | -56M | -48M | -52M | N/A | -56M |
| Cash & Equiv. | 9.5M | 19M | 18M | 18M | 28M | 43M | 50M | 62M | 58M | 50M | 52M | 51M | 56M |
| Long-Term Debt | 6K | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt/Equity | 0.00 | 0.10 | 0.17 | 0.18 | 0.15 | 0.05 | 0.04 | 0.03 | 0.03 | 0.03 | 0.00 | 0.15 | 0.00 |
| Interest Coverage | 2.6 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Equity | 21M | 32M | 32M | 33M | 42M | 56M | 61M | 72M | 74M | 71M | 87M | 95M | 99M |
| Total Assets | 23M | 35M | 37M | 39M | 48M | 67M | 71M | 83M | 86M | 92M | 98M | 109M | 114M |
| Total Liabilities | 2.4M | 3.3M | 5.3M | 6.1M | 6.5M | 11M | 9.7M | 11M | 12M | 21M | 12M | 14M | 16M |
| Intangibles | 251K | 193K | 919K | 886K | 833K | 860K | 961K | 1.1M | 2.1M | 2.5M | 3.1M | 3.4M | 3.3M |
| Retained Earnings | 5.1M | 13M | 20M | 20M | 27M | 36M | 38M | 47M | 47M | 43M | 57M | 64M | 67M |
| Working Capital | 20M | 31M | 30M | 31M | 40M | 53M | 59M | 69M | 69M | 60M | 67M | 71M | 74M |
| Current Assets | 22M | 34M | 34M | 35M | 45M | 59M | 64M | 76M | 77M | 76M | 75M | 81M | 86M |
| Current Liabilities | 2.3M | 2.9M | 3.7M | 4.1M | 4.7M | 5.9M | 4.9M | 6.8M | 8.6M | 16M | 8.5M | 10M | 12M |
| Per Share Data | |||||||||||||
| EPS | 0.20 | 0.60 | 0.60 | 0.04 | 0.52 | 0.78 | 0.11 | 0.74 | 1.02 | 1.35 | 1.50 | 1.75 | 1.85 |
| Owner EPS | 0.17 | 0.45 | 0.55 | -0.03 | 0.37 | 0.58 | 0.04 | 0.67 | 0.63 | 0.83 | 1.74 | 1.62 | 1.94 |
| Book Value | 2.04 | 2.54 | 2.65 | 2.64 | 3.46 | 4.50 | 4.93 | 5.73 | 5.86 | 5.61 | 6.77 | 7.37 | 7.71 |
| Cash Flow/Share | 0.25 | 0.61 | 0.78 | 0.27 | 0.61 | 0.83 | 0.47 | 0.89 | 0.80 | 1.06 | 2.00 | 1.94 | 1.96 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 1.00 | 1.04 | 1.07 | 1.17 | 1.21 |
| Shares Out. | 10.3M | 12.5M | 12.0M | 12.5M | 12.1M | 12.3M | 12.4M | 12.6M | 12.6M | 12.7M | 12.8M | 12.8M | 12.8M |
| Valuation | |||||||||||||
| P/E Ratio | 58.2 | 41.1 | 17.2 | 357.6 | 40.6 | 28.8 | 192.4 | 58.7 | 25.4 | 33.3 | 35.9 | N/A | 51.0 |
| P/FCF | 59.6 | 42.1 | 14.4 | 67.7 | 35.8 | 28.2 | 49.0 | 50.8 | 35.4 | 94.9 | 39.2 | N/A | 49.4 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 41.2 |
| Price/Book | 5.7 | 9.7 | 3.9 | 5.4 | 6.1 | 5.0 | 4.3 | 7.6 | 4.4 | 8.0 | 7.9 | N/A | 12.3 |
| Price/Sales | 5.2 | 7.7 | 5.7 | 4.9 | 7.8 | 6.8 | 8.1 | 8.6 | 8.0 | 7.9 | 7.9 | N/A | 14.0 |
| FCF Yield | 1.7% | 2.4% | 6.9% | 1.5% | 2.8% | 3.6% | 2.0% | 2.0% | 2.8% | 1.1% | 2.6% | N/A | 2.0% |
| Market Cap | 119M | 309M | 124M | 179M | 256M | 278M | 263M | 547M | 326M | 572M | 690M | 0 | 1.2B |
| Avg. Price | 7.97 | 19.40 | 15.33 | 9.14 | 19.58 | 21.34 | 20.76 | 28.58 | 33.98 | 40.57 | 45.36 | 0.00 | 94.49 |
| Year-End Price | 11.65 | 24.65 | 10.33 | 14.31 | 21.12 | 22.50 | 21.16 | 43.40 | 25.93 | 44.90 | 53.81 | 0.00 | 94.49 |
IRADIMED CORP passes 5 of 9 quality checks, suggesting mixed fundamentals.
IRADIMED CORP trades at 57.3x trailing earnings, compared to its 15-year median P/E of 33.3x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 81.5x vs a median of 39.2x. The company's 5-year average ROIC is 73.6% with a gross margin of 76.9%. Total shareholder yield (dividends) is 1.3%. At current prices, the estimated annualized return to fair value is +8.3%.
IRADIMED CORP (IRMD) has a net profit margin of 26.8%. This is a strong margin indicating high profitability.
IRADIMED CORP (IRMD) generated $17 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
IRADIMED CORP (IRMD) has a debt-to-equity ratio of 0.15. This indicates a conservatively financed balance sheet.
IRADIMED CORP (IRMD) reported earnings per share (EPS) of $1.75 in its most recent fiscal year.
IRADIMED CORP (IRMD) has a return on equity (ROE) of 24.8%. This indicates the company generates strong returns for shareholders.
IRADIMED CORP (IRMD) has a 5-year average gross margin of 76.9%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 13 years of financial data for IRADIMED CORP (IRMD), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
IRADIMED CORP (IRMD) has a book value per share of $7.37, based on its most recent annual SEC filing.
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