ICU Medical, Inc.

ICUINASDAQHealthcare● Active

$137.48

+$0.87(+0.64%)

Market Cap$3.4B

P/E Ratio—

52W High$160.29

52W Low$107

Avg Volume291K

Open$136.40

Beta0.78

Free Cash Flow Financials Revenue

ICU Medical, Inc. (ICUI) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

ICUI · free cash flow · updated Jun 8, 2026

Core FCF metrics

ICUI · FCF · TTM · margin & CAGR

Free cash flow was $91.8M for FY2025 (fiscal year ending 2025-12-31), down 26.4% year-over-year The FCF margin was 4.1%. Five-year CAGR stands at -5.6%.

FY2025 Free Cash Flow$91.8M▼ -26.4% YoY

Trailing 12M (TTM)$80.4Mtrailing 4 quarters sum

FCF Margin4.1%$91.8M ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGR-5.6%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

ICUI · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$179.8M(88M)$91.8M▼ 26.4%4.1%

FY2024$204.0M(79M)$124.7M▲ +71.9%5.2%

FY2023$166.2M(94M)$72.5M▲ +144.9%3.2%

FY2022−$62.1M(99M)−$161.5M▼ 186.6%-7.1%

FY2021$267.5M(81M)$186.4M▲ +52.3%14.2%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

ICUI · P/FCF · FCF yield · FCF per share

ICU Medical, Inc. (ICUI) trades at a FCF yield of 2.34% and a price-to-free-cash-flow ratio of 42.2x. FCF per share stands at $3.26, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

2.34%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$3.26

TTM FCF ÷ Shares Outstanding

Price / FCF

x42.2

Share Price ÷ FCF per Share

EV / FCF (TTM)

x55.8

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

ICUI · cash flow statement · operating / investing / financing

For FY2025, ICU Medical, Inc. generated $179.8M in operating cash flow and spent 88M in capital expenditures, yielding $91.8M in free cash flow.

Operating Activities

+$179.8M

Cash from core business operations

2025-12-31

Investing Activities

+$122.2M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$311.5M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($179.8M) − |CapEx| (88M) = FCF ($91.8M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Healthcare)

ICUI vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

ICU Medical, Inc.YOU

ICUI

$91.8M-26.4%4.1%

UnitedHealth Group Incorporated

UNH

$16.07B-22.4%3.6%

82%

Eli Lilly and Company

LLY

$8.97B+2065.6%13.8%

46%

Healthcare · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

ICU Medical, Inc. (ICUI) reported free cash flow of $91.8M for FY2025 (fiscal year ending 2025-12-31), down 26.4% year-over-year. The FCF margin was 4.1%.

Based on available data, ICU Medical, Inc. has maintained positive free cash flow for at least 13 fiscal year(s). FCF peaked at $186.4M in FY2021. The 5-year CAGR stands at -5.6%.

ICU Medical, Inc.'s FCF yield is 2.34% and price-to-FCF ratio is 42.2x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

ICUI free cash flow · 8 questions

ICU Medical, Inc. free cash flow was $91.8M for FY2025, down 26.4% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $80.4M.

ICUI free cash flowICUI FCFICUI FCF 2025ICUI free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · ICU Medical, Inc. · ICU Medical, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026