ICU Medical Inc (ICUI) fair value: what the stock is really worth
As of Oct 30, 2026: fair value (intrinsic value) of ICU Medical Inc stock $12.24, price $164, that is 92.5% below the price, quality 55 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Oct 29, 2026.
How to read this chart
60‑month range $81.08 – $260.00 · fair‑value band $12.24 – $28.92 · the $163.78 price screens above the $12.24 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 29, 2026.
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ICU Medical, Inc., together with its subsidiaries, develops, manufactures, and sells medical products used in infusion therapy, vascular access, and vital care applications worldwide.
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It offers Clave needlefree products under the MicroClave, MicroClave Clear, and NanoClave brands; Neutron catheter patency devices; ChemoLock closed system transfer devices and ChemoClaveTM for preparation and administration of hazardous drugs; Tego needle free connectors; Deltec GRIPPER non-coring needles for portal access; ClearGuard, SwabCap, and SwabTip disinfection caps; and vascular access products.
The company provides IV therapy and diluents, such as sodium chloride, dextrose, balanced electrolyte solutions, lactated ringer's, ringer's, mannitol, sodium chloride/dextrose, and sterile water; and irrigation solutions comprising sodium chloride, sterile water irrigation, physiologic solutions, ringer's irrigation, acetic acid irrigation, glycine irrigation, sorbitol-mannitol irrigation, flexible containers, and pour bottle options.
It offers infusion pumps under the Plum 360 and Plum Duo brands; ambulatory and syringe infusion hardware products; IV mediation safety software, including ICU Medical MedNet, an enterprise-class medication management platform; LifeShield and PharmGuard medication infusion safety software; hemodynamic monitoring products; anesthesia systems and devices, breathing circuits, ventilation, respiratory, and specialty airway products; temperature management solutions; anesthesia/pain management trays and components; and professional services.
The company's customers include acute care hospitals, wholesalers, ambulatory clinics, and alternate site facilities, such as outpatient clinics, home health care providers, and long-term care facilities. ICU Medical, Inc. was founded in 1984 and is based in San Clemente, California.
Stock analysis
ICU Medical Inc (ICUI) currently trades at $163.78, while our model-based Fair Value estimate is $12.24, 92.5% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $73.47 per share, and 2 of the 22 models we run sit above the $163.78 price.
Bear case: the Economic Profit group reads lowest at $2.63, and 20 of the 22 models stay below the price. Data coverage for this calculation is low.
Scenario range: $12.24 (bear) to $28.92 (bull), the price of $163.78 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 55/100 (solid quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
ICU Medical Inc reported revenue of $2.2B in FY2025 versus $1.3B in FY2021, a compound +14.1%/yr. Reported net income was $732K in FY2025, compounding −71.0%/yr from FY2021.
Key figures
Market cap $4.1B Mid · P/E ratio 131.0 · P/S ratio 1.90 · EPS (TTM) $1.25 · Net margin 1.4% · Return on equity 1.4% · Return on assets (EBIT) 2.0% · Operating margin 7.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 31 out of 100 (low confidence).
What moves the price
The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat.
The share trades about 13% below its 52-week high and 42% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −44% fair-value upside, at −93%, ICUI screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely ($0.4300 to $180.26). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear$12.24Fair Value $12.24Bull$28.92
Price $163.78 · Downside -92.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($1.05 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.74/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−6.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−0.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.9%
Start year 2020 (pandemic). Over 10 years: +20.6% a year
Revenue growth 34 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+18.2%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−63.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−63.7%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−63.7% vs −36.4%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.8% → 5%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+28.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+2.8%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +25.0% a year for the price and +0.4% for the forecasts.
AI conclusion: The integrated infusion platform supports steady recurring demand for consumables, yet very low net margins and ROE point to weak profitability with limited evidence of a durable moat.
Main risk: Recent Class II recalls on key reservoirs and administration sets threaten product reliability in the high-margin recurring consumables business and could reduce hospital uptake.
ICU Medical has shifted to an integrated infusion platform where pumps drive recurring demand for consumables that have grown steadily for years. Two recent Class II recalls on key reservoirs and administration sets now test product reliability exactly in that high-margin recurring stream. Our models see the stock as overvalued, so does fixing these issues reinforce the consumables engine or slow hospital uptake instead?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Medical Instruments & Supplies · 184 stocks
Beats the industry median on 2/13 measures
Overall it trails its industry peers.
Valuation
Quality Score55 · Below median
Fair Value upside−92.5% · Bottom 25%
Profitability
Return on equity (12 months)1.4% · Below median
Return on assets0.0% · Bottom 25%
Net margin (12 months)1.4% · Bottom 25%
Operating margin (12 months)7.5% · Below median
Growth and dividend
Revenue growth (quarter YoY)0.5% · Below median
Balance sheet
Debt / equity0.60× · Highest 25%
Valuation Multiplesvs Medical Instruments & Supplies median · lower = cheaper
P/E (12 months)131.0× · Priciest 25%
P/B1.93× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months)1.90× · Cheaper than median
Price / free cash flow44.7× · Priciest 25%
EV/EBITDA15.5× · Pricier than median
PEG0.08× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 21
FUTURE (revenue growth)3· sector 40
PAST (return on equity)6· sector 31
HEALTH (low debt)70· sector 96
DIVIDEND (yield)0· sector 31
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "ICU Medical Inc Fair Value". https://www.fairvalue-calculator.com/stock/ICUI
Frequently asked questions
Is ICU Medical Inc (ICUI) overvalued or undervalued?
As of Oct 29, 2026, our model estimates a fair value of $12.24 versus a price of $163.78, about 93% lower (overvalued).
What is the fair value of ICUI?
Our model-based fair value for ICU Medical Inc is $12.24 (as of Oct 29, 2026), built from audited fundamentals. The current price: $163.78.
What is the quality score of ICUI?
ICU Medical Inc has a Quality Score of 55/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for ICU Medical Inc (ICUI)?
Our model-based price target is the fair value of $12.24 (as of Oct 29, 2026) from 22 valuation models. Cautious scenario $12.24, optimistic scenario $28.92. It is a calculation from audited fundamentals, not an analyst target.
What is the ICU Medical Inc stock forecast for 2026?
Our models put fair value at $12.24, about 93% lower versus a price of $163.78 (overvalued). Cautious scenario $12.24, optimistic scenario $28.92. The calculation is refreshed regularly with new filings.
What is the revenue of ICU Medical Inc (ICUI)?
ICU Medical Inc reported trailing-twelve-month revenue of about $2.2B (latest available figure, as of Oct 29, 2026).
What growth is priced into ICU Medical Inc (ICUI)?
For today's price to be fair in a discounted-cash-flow model, ICU Medical Inc would have to grow free cash flow by +28.0 % per year for five years (discount rate 9.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.9 % per year. As of Oct 29, 2026.
What discount rate (WACC) does the fair value of ICUI use?
Our models discount ICU Medical Inc at 9.4 %: a base by market capitalisation (mid), damped by beta 0.87, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For ICU Medical Inc that is +28.0 % per year a year over ten years, using the same discount rate (9.4 %) and the same formula as our fair value.
How much growth has ICU Medical Inc (ICUI) delivered so far?
Over the past 5 years revenue at ICU Medical Inc grew +11.9 % a year. The price currently implies +28.0 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of ICU Medical Inc (ICUI) growing?
The median revenue growth in the sector is +6.4 % a year. That is the yardstick for the growth priced into ICU Medical Inc (+28.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of ICU Medical Inc (ICUI)?
The free-cash-flow yield on the price is 2.24 %: that much free cash flow ICU Medical Inc produces per unit of market value. When it exceeds the discount rate of our models (9.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of ICU Medical Inc (ICUI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ICU Medical Inc it is $12.24 per share (as of Oct 29, 2026), against a price of $163.78. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is ICU Medical Inc stock overvalued or undervalued in 2026?
As of Oct 29, 2026, ICUI trades above its calculated fair value: price $163.78, fair value $12.24, a gap of about −93% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ICUI?
No. The price is what the market pays today ($163.78); the fair value is what the company's own numbers justify ($12.24). For ICU Medical Inc the two are $151.54 per share apart. That gap is exactly why we show both numbers side by side.
How much is ICU Medical Inc worth?
The market values ICU Medical Inc at about $4.1B (market capitalisation, as of Oct 29, 2026). Per share that is $163.78; our models calculate a fair value of $12.24 per share.
What do the bullish and bearish scenarios say about ICUI?
Our models span a range for ICU Medical Inc: cautious scenario $12.24, base $12.24, optimistic $28.92 per share (as of Oct 29, 2026, price $163.78). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ICUI?
ICU Medical Inc trades at a price-to-earnings ratio of 131.0 (as of Oct 29, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $12.24 is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2016 to 2025), reported earnings: 53.3. Other multiples: PEG 0.1, P/B 1.9, P/S 1.9, EV/EBITDA 15.5.
What is the PEG ratio of ICUI?
The PEG ratio of ICU Medical Inc is 0.08 (P/E divided by earnings growth, as of Oct 29, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of ICU Medical Inc (ICUI)?
Balance-sheet figures for ICU Medical Inc (as of Oct 29, 2026): return on equity 1.4%, debt of 0.60 per unit of equity. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is ICUI from its 52-week high?
ICU Medical Inc trades at $163.78, about 13% below its 52-week high of $187.26 and 42% above the low of $115.45 (as of Oct 30, 2026). Distance from the high says nothing about value: that is what the fair value of $12.24 is for.
Which stocks are comparable to ICU Medical Inc?
From the same area (Healthcare) we also value Intuitive Surgical, Inc, EssilorLuxottica Société anonyme, Becton, Dickinson and Company, Medline Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is ICU Medical Inc stock attractive at the current price?
The data as of Oct 29, 2026: price $163.78, calculated fair value $12.24 (−93%), Quality Score 55/100, from 22 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ICUI calculated?
We run ICU Medical Inc through 22 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $12.24, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.2 % above its aggregate fair value. ICU Medical Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of ICU Medical Inc (ICUI)?
The closing price on Oct 30, 2026 was $163.78. Our model-based fair value is $12.24, about 93% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ICU Medical Inc right now?
The price sits above even our optimistic bull case ($28.92). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range ($12.24 to $28.92) leaves room in how you read the outcome.
Key figures of ICU Medical Inc
How large is the market capitalisation of ICU Medical Inc (ICUI)?
The market capitalisation of ICU Medical Inc is $4.1B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of ICU Medical Inc (ICUI)?
The price-to-sales ratio of ICU Medical Inc is 1.90 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of ICU Medical Inc (ICUI)?
Earnings per share at ICU Medical Inc are $1.25 (price ÷ EPS = P/E 131.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of ICU Medical Inc (ICUI)?
The net margin of ICU Medical Inc is 1.4% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of ICU Medical Inc (ICUI)?
The return on equity (ROE) of ICU Medical Inc is 1.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of ICU Medical Inc (ICUI)?
On an EBIT basis the return on assets of ICU Medical Inc is 2.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of ICU Medical Inc (ICUI)?
The operating margin of ICU Medical Inc is 7.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ICU Medical Inc (ICUI)?
Revenue at ICU Medical Inc is growing +0.5% versus a year earlier (3y avg −0.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at ICU Medical Inc (ICUI)?
Earnings per share at ICU Medical Inc are growing −46.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does ICU Medical Inc (ICUI) carry?
The net debt of ICU Medical Inc is $1.1B (fiscal year 2025, ≈ 11.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Oct 29, 2026