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Outset Medical, Inc (OM) Fair Value & Analysis

Healthcare · US · Market cap $93.6M

OM Outset Medical, Inc logo Outset Medical, Inc OM · US
Price$4.90
Fair Value$5.19
Upside+6.0%
Quality35/100
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Expensive Growth
Loss-making · -63.7% net margin
Moderate debt · negative free cash flow
Trails peers (3/10)
Narrow moat 9/100
Evidence: Low Range $3.43 – $6.49 Share as image

Fair value as of: Jul 24, 2026

From 1 valuation models · updated 17 days ago

Share price +14.0% over the past month.

Below-average quality, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range ($3.43 to $6.49) leaves room in how you read the outcome.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
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Price vs Fair Value (5 years)

$898.80 $3.16 Fair Value $5.19 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 24, 2026.

How to read this chart

60‑month range $3.16 – $898.80 · fair‑value band $3.43 – $6.49 · the $4.90 price screens below the $5.19 fair value. Dashed = 300-day average. As of Jul 24, 2026.

Full chart & analysis →

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Analysis

Outset Medical, Inc (OM) currently trades at $4.90, while our model-based Fair Value estimate is $5.19, implying the stock looks roughly 6.0% fairly valued today. The Quality Score stands at 35/100 (below-average quality), in the Healthcare sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: low), always confirm before acting.

Over the trailing twelve months, Outset Medical, Inc generated revenue of $118M at a net margin of -63.7%. Revenue declined 6.3% year over year. It earns a return on equity of -53.2%. Net debt stands at $66.2M. Fundamentals as of Jul 24, 2026

Our scenario range runs from $3.43 (bear case) to $6.49 (bull case); at $4.90, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 77% below its 52-week high and 63% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -22% fair-value upside, at 6%, OM screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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. Evidence
Highest evidence
NCAV (Graham) $3.42 $4.59 $6.85 50
All 1 models by family
Asset-Based
NCAV (Graham) $3.42 $4.59 $6.85 50

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Key figures & financial health

Revenue (TTM) $118M
Revenue growth (YoY) -6.3%
Net margin -63.7%
Return on equity -53.2%
Free cash flow −$47.1M FY2025
Operating margin -60.7%
More key figures
EPS (TTM) $-2.74
Net debt $66.2M FY2025

Figures from reported company fundamentals · as of Jul 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 35/100

Of which business quality 34 · Market factors (momentum, volatility) 16

Profitability 12
Margins and returns on capital today
Quality Growth 81
Are margins and returns improving?
Cashflow 2
Earnings quality: real cash, not paper profit
Fin. Strength 43
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 33
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Outset Medical, Inc., a medical technology company, engages in the development of a hemodialysis system for hemodialysis in the United States.

Full company description

Outset Medical, Inc., a medical technology company, engages in the development of a hemodialysis system for hemodialysis in the United States. The company provides Tablo Hemodialysis System, a compact console with integrated water purification, on-demand dialysate production, and software and connectivity capabilities; and manufactures, supports, and distributes for Tablo console, Tablo cartridge, and other consumables. It also offers Tablo Data Ecosystem, including TabloHub, a consumer-facing portal; MyTablo, a patient-facing portal; and TabloDash, an internal data analytics platform. The company was formerly known as Home Dialysis Plus, Ltd. and changed its name to Outset Medical, Inc. in January 2015. Outset Medical, Inc. was incorporated in 2003 and is headquartered in San Jose, California.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Outset Medical, Inc reported revenue of $119M in FY2025 versus $103M in FY2021, a compound +3.9%/yr. Reported net income was −$81.7M in FY2025.

Growth Quality 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
$119M
Latest YoY
+5.1%
Avg. growth/yr (3Y) 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.
+1.2%
Avg. growth/yr (5Y) 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.
+19.1%
Avg. growth/yr (7Y) 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.
+79.3%
Revenue +3.9%/yr
FY21 $103M
FY22 $115M
FY23 $130M
FY24 $114M
FY25 $119M
Net income
FY21 −$132M
FY22 −$163M
FY23 −$173M
FY24 −$128M
FY25 −$81.7M

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Cite: Fair Value Calculator (2026). "Outset Medical, Inc Fair Value". https://www.fairvalue-calculator.com/stock/OM

Peer Group

Medical Devices · 352 stocks

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.

Quality Score 34 · Bottom 25%
Fair Value upside +6% · Top 25%
Return on assets -15% · Bottom 25%
Net margin (TTM) -64% · Bottom 25%
Operating margin (TTM) -61% · Bottom 25%
Revenue growth -6% · Bottom 25%
Debt / equity 0.76× · Higher than 75% of peers

Valuation Multiples vs Medical Devices median · lower = cheaper

P/B 0.74× · Cheaper than median
P/S (TTM) 0.80× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 41 · sector 0
FUTURE 0 · sector 29
PAST 0 · sector 8
HEALTH 62 · sector 97
DIVIDEND 0 · sector 38

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Medical Devices stocks, each showing price versus our Fair Value estimate (as of Jul 24, 2026).

Stock Price Fair Value vs Fair Value
Abbott Laboratories, ABT $100.68 $74.79 -26%
Stryker Corporation SYK $316.44 $186.28 -41%
Medtronic plc MDT $83.56 $65.57 -22%
Boston Scientific Corporation BSX $43.04 $38.44 -11%
Edwards Lifesciences Corporation EW $85.73 $41.02 -52%
Siemens Healthineers AG SHL €34.59 €33.87 -2%
Shenzhen Mindray Bio-Medical Electronics Co 300760 ¥149.43 ¥147.63 -1%
Shanghai United Imaging Healthcare Co 688271 ¥109.00 ¥43.60 -60%
Demant A/S DEMANT kr 276.60 kr 161.17 -42%
Getinge AB GETIB kr 206.80 kr 192.14 -7%

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Frequently asked questions

Is Outset Medical, Inc (OM) overvalued or undervalued?
As of Jul 24, 2026, our model estimates a fair value of $5.19 versus a price of $4.90, about +6% (fairly valued).
What is the fair value of OM?
Our model-based fair value for Outset Medical, Inc is $5.19 (as of Jul 24, 2026), built from audited fundamentals. The current price is $4.90.
What is the quality score of OM?
Outset Medical, Inc has a Quality Score of 35/100. 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 revenue of Outset Medical, Inc (OM)?
Outset Medical, Inc reported trailing-twelve-month revenue of about $118M (latest available figure, as of Jul 24, 2026).
What is the net profit margin of OM?
The net profit margin of Outset Medical, Inc is about -63.7%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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