OSI SYSTEMS INC OSIS
OSI Systems, Inc., together with our subsidiaries, is a vertically integrated designer and manufacturer of specialized electronic systems and components for critical applications. We sell our products and provide related services in diversified markets, including homeland security, healthcare, defense and aerospace. Our company is incorporated in the State of Delaware and our principal office is located at 12525 Chadron Avenue, Hawthorne, California 90250.
We have three operating divisions: (a) Security, providing security and inspection systems, turnkey security screening solutions, and high-power radio frequency systems; (b) Optoelectronics and Manufacturing, providing specialized electronic components for our Security and Healthcare divisions, as well as to third parties for applications in the defense and aerospace markets, among others; and (c) Healthcare, providing patient monitoring, cardiology and remote monitoring, and connected care systems and associated accessories.
Valuation FY2026 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.79B | $1.71B | $1.54B | $1.28B | $1.18B | $1.15B | $1.17B | $1.18B | $1.09B | $961.0M |
| Cost of revenue | $1.19B | $1.13B | $1.01B | $847.9M | $758.8M | $727.0M | $745.4M | $751.5M | $697.6M | $637.5M |
| Gross profit | $593.1M | $587.2M | $530.5M | $430.5M | $424.4M | $419.9M | $420.6M | $430.6M | $391.7M | $323.5M |
| R&D | $79.1M | $73.4M | $65.3M | $59.4M | $59.6M | $53.7M | $57.3M | $56.5M | $61.2M | $51.0M |
| SG&A | $278.4M | $290.9M | $269.7M | $228.3M | $235.6M | $240.7M | $252.0M | $262.5M | $239.6M | $192.6M |
| Total operating expenses | $374.1M | $369.7M | $341.4M | $295.2M | $302.7M | $304.5M | $315.8M | $322.8M | $335.7M | $290.2M |
| Operating income | $219.0M | $217.5M | $189.1M | $135.3M | $121.7M | $115.4M | $104.9M | $107.8M | $55.9M | $33.3M |
| Interest expense | $26.2M | $31.4M | $27.8M | — | — | — | — | $21.6M | $19.3M | $9.6M |
| Pre-tax income | $192.7M | $186.1M | $161.2M | $115.2M | $140.2M | $98.6M | $86.1M | $86.2M | $36.9M | $25.8M |
| Income tax | $38.0M | $36.5M | $33.1M | $23.5M | $24.8M | $24.6M | $10.9M | $21.4M | $66.0M | $4.7M |
| Net income | $154.7M | $149.6M | $128.2M | $91.8M | $115.3M | $74.0M | $75.3M | $64.8M | -$29.1M | $21.1M |
| EPS, basic | 9.33 | 8.93 | 7.55 | 5.45 | 6.57 | 4.12 | 4.14 | 3.58 | -1.57 | 1.12 |
| EPS, diluted | 8.95 | 8.71 | 7.38 | 5.34 | 6.45 | 4.03 | 4.05 | 3.46 | -1.57 | 1.07 |
| Shares, diluted (wtd. avg.) | $17.3M | $17.2M | $17.4M | $17.2M | $17.9M | $18.4M | $18.6M | $18.7M | $18.6M | $19.7M |
Balance sheet
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $359.8M | $106.4M | $95.4M | $76.8M | $64.2M | $80.6M | $76.1M | $96.3M | $84.8M | $169.7M |
| Receivables | $764.6M | $837.7M | $648.2M | $380.8M | $308.0M | $290.7M | $269.8M | $238.4M | $210.7M | $206.5M |
| Inventory | $415.6M | $407.2M | $397.9M | $338.0M | $333.9M | $294.2M | $241.2M | $273.7M | $313.6M | $248.5M |
| Total current assets | $1.61B | $1.42B | $1.22B | $839.9M | $746.1M | $709.4M | $617.7M | $640.9M | $650.7M | $653.0M |
| Property, plant and equipment | $129.9M | $126.7M | $114.0M | $108.9M | $109.7M | $118.0M | $127.9M | $127.4M | $115.5M | $141.5M |
| Goodwill | $406.7M | $387.4M | $351.5M | $349.5M | $336.4M | $320.3M | $310.6M | $307.1M | $292.2M | $242.1M |
| Other intangibles | $192.4M | $183.3M | $139.5M | $140.9M | $138.4M | $127.6M | $128.3M | $133.0M | $142.0M | $118.5M |
| Total assets | $2.50B | $2.24B | $1.94B | $1.56B | $1.44B | $1.38B | $1.27B | $1.26B | $1.26B | $1.23B |
| Accounts payable | $169.0M | $205.2M | $191.1M | $139.0M | $125.2M | $141.3M | $84.9M | $93.5M | $106.9M | $76.1M |
| Short-term debt | $2.5M | $8.1M | $8.2M | $8.1M | $244.6M | $846.0K | $926.0K | $804.0K | $2.3M | $2.4M |
| Total current liabilities | $511.1M | $696.9M | $814.6M | $571.7M | $614.0M | $344.8M | $330.1M | $382.0M | $443.3M | $346.1M |
| Long-term debt | $998.5M | $463.5M | $129.4M | $136.5M | $48.7M | $276.4M | $267.1M | $257.8M | $249.0M | $241.8M |
| Total liabilities | $1.67B | $1.29B | $1.07B | $829.5M | $804.7M | $744.5M | $696.4M | $713.1M | $766.3M | $660.9M |
| Retained earnings | $852.1M | $942.3M | $861.2M | $736.0M | $663.9M | $548.8M | $474.8M | $399.5M | $334.7M | $363.9M |
| Total equity | $833.0M | $951.1M | $863.5M | $726.2M | $638.4M | $639.8M | $572.2M | $551.7M | $489.4M | $569.2M |
Cash flow
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $275.9M | $97.6M | -$87.5M | $94.8M | $63.8M | $139.1M | $129.2M | $119.1M | $133.1M | $62.8M |
| Depreciation and amortisation | $42.6M | $43.6M | $42.2M | $38.5M | $38.7M | $43.9M | $49.8M | $56.2M | $69.8M | $68.2M |
| Stock-based compensation | $26.4M | $32.0M | $28.7M | $29.1M | $28.1M | $26.8M | $23.8M | $25.3M | $23.8M | $26.1M |
| Capital expenditure | $30.6M | $23.8M | $22.1M | $15.8M | $14.9M | $16.9M | $21.1M | $27.4M | $43.2M | $17.1M |
| Investing cash flow | -$68.3M | -$117.9M | -$37.6M | -$40.5M | -$12.7M | -$34.7M | -$42.7M | -$48.5M | -$145.8M | -$198.0M |
| Financing cash flow | $46.7M | $30.8M | $144.2M | -$37.2M | -$64.0M | -$103.9M | -$104.7M | -$58.3M | -$72.1M | $200.9M |
| Buybacks | $271.9M | $80.4M | $0 | $34.7M | $111.6M | $37.5M | $51.8M | $21.0M | $62.9M | $48.5M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-099752.
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