OSI SYSTEMS INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data OSI SYSTEMS INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	961	1,089	1,182	1,166	1,147	1,183	1,278	1,539	1,713	1,786
Cost of revenue	637	698	752	745	727	759	848	1,008	1,126	1,193
Gross profit	324	392	431	421	420	424	431	530	587	593
Research and development	51	61.2	56.5	57.3	53.7	59.6	59.4	65.3	73.4	79.1
Selling, general and administrative	193	240	262	252	241	236	228	270	291	278
Operating expenses	290	336	323	316	305	303	295	341	370	374
Operating income	33.3	55.9	108	105	115	122	135	189	218	219
Interest expense	9.63	19.3	21.6					27.8	31.4	26.2
Other non-operating income	2.09	0.24	-0.01			27.4	0	0
Pre-tax income	25.8	36.9	86.2	86.1	98.6	140	115	161	186	193
Income tax	4.68	66	21.4	10.9	24.6	24.8	23.5	33.1	36.5	38
Net income	21.1	-29.1	64.8	75.3	74	115	91.8	128	150	155
EBITDA	102	126	164	155	159	160	174	231	261	262
EPS, basic	1.12	-1.57	3.58	4.14	4.12	6.57	5.45	7.55	8.93	9.33
EPS, diluted	1.07	-1.57	3.46	4.05	4.03	6.45	5.34	7.38	8.71	8.95
Shares, basic (weighted)	18.9	18.6	18.1	18.2	18	17.6	16.8	17	16.8	16.6
Shares, diluted (weighted)	19.7	18.6	18.7	18.6	18.4	17.9	17.2	17.4	17.2	17.3

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	170	84.8	96.3	76.1	80.6	64.2	76.8	95.4	106	360
Receivables	207	211	238	270	291	308	381	648	838	765
Inventory	249	314	274	241	294	334	338	398	407	416
Other current assets	28.3	41.6	32.4	30.5	43.9	40.1	44.3	74.1	71.5	71.7
Total current assets	653	651	641	618	709	746	840	1,216	1,423	1,612
Property, plant and equipment	142	116	127	128	118	110	109	114	127	130
Lease right-of-use assets				27.9	23.4	39.5	32.6	30	32	47.9
Goodwill	242	292	307	311	320	336	350	351	387	407
Intangible assets	118	142	133	128	128	138	141	140	183	192
Other non-current assets	75	55.3	56.5	84	109	113	116	116	121	162
Total assets	1,230	1,256	1,265	1,269	1,384	1,443	1,556	1,936	2,241	2,502
Accounts payable	76.1	107	93.5	84.9	141	125	139	191	205	169
Accrued liabilities	34.6	40.2	43.5	46.1	50.8	46.4	51.2	46.7	49.5	51.8
Deferred revenue		28.9	33.6	32.9	32.7	31.4	43.9	46.9	77.8	91
Short-term debt	2.4	2.26	0.8	0.93	0.85	245	8.08	8.17	8.13	2.53
Total current liabilities	346	443	382	330	345	614	572	815	697	511
Long-term debt	242	249	258	267	276	48.7	136	129	464	999
Lease liabilities				19.7	16.3	30.4	23.7	21.1	21	35.7
Other non-current liabilities	52.3	59	65.4	93.4	116	131	115	125	126	154
Total liabilities	661	766	713	696	745	805	830	1,073	1,290	1,669
Total debt	244	290	259	268	277	293	145	138	472	1,001
Retained earnings	364	335	400	475	549	664	736	861	942	852
Other comprehensive income	-17.2	-14.8	-16.7	-25.2	-14.7	-25.5	-19.6	-22	-20.9	-19.2
Shareholders' equity	569	489	552	572	640	638	726	863	951	833
Total equity	569	489	552	572	640	638	726	863	951	833
Total liabilities and equity	1,230	1,256	1,265	1,269	1,384	1,443	1,556	1,936	2,241	2,502
Shares outstanding	18.7	18	18.2	18	17.9	16.9	16.8	17.1	16.8	15.9

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	21.1	-29.1	64.8	75.3	74	115	91.8	128	150	155
Depreciation and amortization	68.2	69.8	56.2	49.8	43.9	38.7	38.5	42.2	43.6	42.7
Stock-based compensation	26.1	23.8	25.3	23.8	26.8	28.1	29.1	28.7	32	26.4
Deferred income tax	-24.2	26.1	-8.54	-0.43	0.43	3.52	-3.98	-14.1	-9.09	-2.03
Change in receivables	-44.5	11.3	-27.2	-37.1	-29	-13.7	-66.1	-294	-165	98.7
Change in inventory	30.8	-59.2	39.4	30.8	-47.8	-44.7	-0.12	-57.3	-9.7	-10.4
Change in payables	2.66	25.1	-16.6	-8.89	55.6	-15.1	10.8	52.5	7.89	-35.9
Cash from operations	62.8	133	119	129	139	63.8	94.8	-87.5	97.6	276
Capital expenditures	-17.1	-43.2	-27.4	-21.1	-16.9	-14.9	-15.8	-22.1	-23.8	-30.6
Acquisitions	-189	-100	-18.3	-8.94	-3	-14.1	-7.1	-9.05	-76.7	-26.3
Cash from investing	-198	-146	-48.5	-42.7	-34.7	-12.7	-40.5	-37.6	-118	-68.3
Debt issued	281	1.04	1.41	0.77	0.74	50.4	101	1.44	341	663
Debt repaid	-4.08	-2.59	-3.12	-0.97	-1.06	-46.1	-250	-8.45	-8.28	-137
Share buybacks	-48.5	-62.9	-21	-51.8	-37.5	-112	-34.7	0	-80.4	-272
Cash from financing	201	-72.1	-58.3	-105	-104	-64	-37.2	144	30.8	46.7
Exchange rate effect	-0.4	-0.05	-0.81	-1.98	4.06	-3.54	-4.63	-0.51	0.49	-0.87
Net change in cash	65.3	-84.8	11.5	-20.2	4.51	-16.4	12.5	18.6	11.1	253
Free cash flow	45.7	89.9	91.7	108	122	48.9	79	-110	73.8	245
Interest paid	5.19	9.25	11.9	7.71	5.98	6.98	20.3	26.8	26.8	20.5
Income taxes paid	25.1	29.4	34.8	19.1	12.8	16.7	19.4	42.1	39.9	43

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $197.24 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	33.2%	Gross profit / revenue.
Operating margin	12.3%	Operating income / revenue.
EBITDA margin	14.6%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	10.8%	Pre-tax income / revenue.
Net margin	8.7%	Net income / revenue.
FCF margin	13.7%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	15.4%	Cash from operations / revenue.
Effective tax rate	19.7%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	17.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	6.5%	Net income / average total assets.
Return on invested capital (ROIC)	12.6%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	4.4%	Research and development expense / revenue.
SG&A / revenue	15.6%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.5%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.7%	Capital expenditures / revenue.
D&A / revenue	2.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	4.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	11.8%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	9.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	1.0%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	11.3%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	7.1%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	0.7%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	17.4%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	13.7%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	0.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	14.6%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	10.4%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	3.4%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	19.0%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	15.9%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	2.8%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	18.8%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	17.3%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	182.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	42.8%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	14.7%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	232.6%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	45.9%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	15.0%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-12.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	4.7%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	5.4%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	11.7%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	17.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	12.6%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.6%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.2%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.2%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	3.15x	Current assets / current liabilities.
Quick ratio	2.20x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.70x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.20x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	40.0%	Total debt / total assets.
Liabilities / assets	66.7%	Total liabilities / total assets.
Net debt	$641.2M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	2.45x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	8.35x	Operating income / interest expense.
Working capital	$1.10B	Current assets - current liabilities.
Goodwill and intangibles / assets	23.9%	(Goodwill + intangible assets) / total assets.
Tangible book value	$233.9M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.75x	Revenue / average total assets.
Fixed asset turnover	13.9x	Revenue / average property, plant and equipment.
Inventory turnover	2.90x	Cost of revenue / average inventory.
Days inventory	126 days	365 x average inventory / cost of revenue.
Receivables turnover	2.23x	Revenue / average receivables.
Days sales outstanding	164 days	365 x average receivables / revenue.
Days payables	57 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	232 days	Days inventory + days sales outstanding - days payables.
FCF conversion	158.6%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	11.1%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$8.95	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	$9.33	Net income per basic share, as reported (split-adjusted).
Revenue per share	$103.36	Revenue / diluted weighted shares.
FCF per share	$14.20	Free cash flow / diluted weighted shares.
Operating cash flow per share	$15.97	Cash from operations / diluted weighted shares.
Book value per share	$52.33	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$14.70	Tangible book value / shares outstanding.
Cash per share	$22.61	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	110.8%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$3.25B	Share price x shares outstanding.
Enterprise value	$3.89B	Market cap + total debt - cash - short-term investments.
P/E	21.0x	Market cap / net income. Only when net income is positive.
P/S	1.82x	Market cap / revenue.
P/B	3.90x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	13.9x	Market cap / tangible book value, when positive.
P/FCF	13.3x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	11.8x	Market cap / cash from operations, when positive.
EV/Sales	2.18x	Enterprise value / revenue.
EV/EBIT	17.8x	Enterprise value / operating income, when both are positive.
EV/EBITDA	14.9x	Enterprise value / EBITDA, when both are positive.
EV/FCF	15.9x	Enterprise value / free cash flow, when both are positive.
FCF yield	7.5%	Free cash flow / market cap.
Earnings yield	4.8%	Net income / market cap (the inverse of P/E).
Shareholder yield	8.4%	(Dividends paid + share buybacks) / market cap.
PEG	1.12x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was OSI SYSTEMS INC's revenue in fiscal 2026?

OSI SYSTEMS INC reported revenue of $1.79B for fiscal 2026, 4.3% higher than the year before.

Was OSI SYSTEMS INC profitable in fiscal 2026?

Yes. Net income was $154.7M, a net margin of 8.7%.

How much free cash flow did OSI SYSTEMS INC generate in fiscal 2026?

Cash from operations of $275.9M minus capital expenditures of $30.6M left free cash flow of $245.3M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

Open interactive statements, quarterly figures and charts

Back to OSI SYSTEMS INC