What is ICU Medical's R&D?

ICU Medical (ICUI) reported R&D of $21.28M in Q1 2026.

How has ICU Medical's R&D changed year-over-year?

ICU Medical's R&D decreased by 8.6% year-over-year, from $23.29M to $21.28M.

What is the long-term trend for ICU Medical's R&D?

Over 4 years (2021 to 2025), ICU Medical's R&D has grown at a 16.5% compound annual growth rate (CAGR), from $47.5M to $87.5M.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

ICU Medical ICUI R&D

R&D at other companies

Merit Medical SystemsMMSI

$22.61M+0.6%

Baxter InternationalBAX

$139M-0.7%

Becton, Dickinson and CompanyBDX

$249M+7.3%

TFX

TeleflexTFX

$44.39M+75.5%

Edwards LifesciencesEW

$263.3M+3.4%

Moog Inc.MOG.A

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Other financials

Income statement

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Revenue$530.2M-12.3%

Gross profit$206.2M-1.8%

Operating income$13.6M+5.4%

Net income$30.1M+295%

EPS (diluted)$1.20+290%

Balance sheet

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Cash & equivalents$288.3M-0.5%

Total debt$1.4B-17.5%

Total equity$2.1B+6.3%

Total assets$4.0B-4.1%

Cash flow

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Operating cash flow$38.9M-24.2%

CapEx$11.3M-22.7%

Free cash flow$27.6M-24.8%

Valuation

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Market cap$3.39B-6.3%

Profitability

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Gross margin37.9%+2.8pp

Operating margin2%-0.7pp

Net margin-0.3%-0.2pp

FCF margin4.2%-1.2pp

Returns & leverage

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Return on equity-0.4%-0.2pp

Debt / equity0.6×-0.2×

Current ratio2.3×-0.3×

Where this comes from

Reported directly by ICU Medical in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The official record: ICU Medical’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is ICU Medical's R&D?: ICU Medical (ICUI) reported R&D of $21.28M in Q1 2026.
How has ICU Medical's R&D changed year-over-year?: ICU Medical's R&D decreased by 8.6% year-over-year, from $23.29M to $21.28M.
What is the long-term trend for ICU Medical's R&D?: Over 4 years (2021 to 2025), ICU Medical's R&D has grown at a 16.5% compound annual growth rate (CAGR), from $47.5M to $87.5M.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.