ICU Medical Valuation Multiples

ICU Medical Overview

About ICU Medical

ICU Medical is a California-based pure-play infusion therapy company that provides consumables, systems, and services for virtually every component of the IV continuum of care. ICU has become one of the largest players in its industry following its acquisition of Hospira Infusion Systems from Pfizer in 2017 and Smiths Medical from Smiths Group in 2022. It holds top-tier positions across its three reporting segments: consumables (50% of consolidated revenue), infusion systems (30%), and vital care (20%). The combined entity remains primarily US-focused, generating over 60% of its sales domestically.

Founded

1984

HQ

Employees

13.0K

Website

icumed.com

Sectors

Medical DevicesDeepTechHealthTech

Financials (LTM)

Revenue: $2B

EBITDA: $408M

EV

$4B

Valuation Multiples

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ICU Medical Financials

ICU Medical reported last 12-month revenue of $2B and EBITDA of $408M.

In the same LTM period, ICU Medical generated $861M in gross profit, $408M in EBITDA, and $196M in net income.

ICU Medical P&L

In the most recent fiscal year, ICU Medical reported revenue of $2B and EBITDA of $404M.

ICU Medical expects next 12-month revenue of XXX and NTM EBITDA of XXX

ICU Medical Stock Performance

ICU Medical has current market cap of $3B, and enterprise value of $4B.

ICU Medical's stock price is $130.08.

ICU Medical Valuation Multiples

ICU Medical trades at 1.9x EV/Revenue multiple, and 10.5x EV/EBITDA.

ICU Medical Financial Valuation Multiples

As of April 20, 2026, ICU Medical has market cap of $3B and EV of $4B.

Equity research analysts estimate ICU Medical's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

ICU Medical has a P/E ratio of 16.6x.

ICU Medical Margins & Growth Rates

ICU Medical's revenue in the last 12 month declined by (0%).

ICU Medical's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.1M for the same period.

ICU Medical's rule of 40 is 16% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

ICU Medical's rule of X is 12% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

ICU Medical Public Comps

See public comps and valuation multiples for other Medical Devices comps.

ICU Medical M&A Activity

ICU Medical acquired XXX companies to date.

Last acquisition by ICU Medical was on XXXXXXXX, XXXXX. ICU Medical acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

ICU Medical Investment Activity

ICU Medical invested in XXX companies to date.

ICU Medical made its latest investment on XXXXXXXX, XXXXX. ICU Medical invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).