UTAH MEDICAL PRODUCTS INC UTMD
Currency amounts throughout this report are in thousands except per-share amounts and where noted.
Utah Medical Products, Inc. ("UTMD" or "the Company") is in the business of producing high quality cost-effective medical devices that are predominantly differentiated by safety and improved patient outcomes. Throughout this report, "UTMD" or "the Company" refers jointly to Utah Medical Products, Inc. and all of its corporate subsidiaries. Success depends on 1) recognizing and responding to needs of clinicians and patients, 2) rapidly designing or acquiring economical solutions that gain premarketing regulatory concurrence, 3) reliably producing devices that meet those clinical needs, and then 4) selling through
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $38.5M | $40.9M | $50.2M | $52.3M | $49.1M | $42.2M | $46.9M | $42.0M | $41.4M | $39.3M |
| Cost of revenue | $16.5M | $16.8M | $20.2M | $20.1M | $18.1M | $16.6M | $17.4M | $15.7M | $15.0M | $15.6M |
| Gross profit | $22.0M | $24.1M | $30.0M | $32.2M | $30.9M | $25.5M | $29.5M | $26.3M | $26.4M | $23.7M |
| R&D | $668.0K | $813.0K | $560.0K | $493.0K | $526.0K | $486.0K | $483.0K | $454.0K | $447.0K | $475.0K |
| SG&A | $7.9M | $7.8M | $11.0M | $10.4M | $10.1M | $9.8M | $9.6M | $5.4M | $5.4M | $5.4M |
| Operating income | $11.4M | $13.6M | $16.8M | $19.8M | $18.9M | $13.7M | $17.6M | $18.7M | $19.0M | $16.2M |
| Pre-tax income | $14.1M | $16.8M | $20.1M | $20.7M | $19.1M | $13.8M | $17.9M | $19.5M | $19.1M | $16.4M |
| Income tax | $2.8M | $2.9M | $3.5M | $4.2M | $4.3M | $3.0M | $3.2M | $904.0K | $10.6M | $4.3M |
| Net income | $11.3M | $13.9M | $16.6M | $16.5M | $14.8M | $10.8M | $14.7M | $18.6M | $8.5M | $12.1M |
| EPS, basic | 3.48 | 3.96 | 4.58 | 4.53 | 4.05 | 2.95 | 3.96 | 4.97 | 2.29 | 3.23 |
| EPS, diluted | 3.48 | 3.96 | 4.57 | 4.52 | 4.04 | 2.94 | 3.94 | 4.95 | 2.28 | 3.22 |
| Shares, diluted (wtd. avg.) | $3.2M | $3.5M | $3.6M | $3.6M | $3.7M | $3.7M | $3.7M | $3.7M | $3.7M | $3.8M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $85.8M | $83.0M | $92.9M | $75.1M | $61.0M | $51.6M | $42.8M | $51.1M | $39.9M | $26.3M |
| Receivables | $3.5M | $4.1M | $3.4M | $5.5M | $5.1M | $4.1M | $4.7M | $4.0M | $3.6M | $3.2M |
| Inventory | $7.9M | $8.8M | $9.6M | $8.8M | $6.6M | $6.2M | $6.9M | $5.4M | $5.2M | $4.5M |
| Total current assets | $97.7M | $96.3M | $106.3M | $89.9M | $73.2M | $62.3M | $54.9M | $60.9M | $49.2M | $34.5M |
| Property, plant and equipment | $9.9M | $9.8M | $10.6M | $10.2M | $10.6M | $11.3M | $10.7M | $10.4M | $11.6M | $10.0M |
| Goodwill | $14.1M | $13.6M | $13.7M | $13.4M | $14.1M | $14.2M | $14.0M | $13.7M | $14.1M | $13.5M |
| Other intangibles | $840.0K | $2.9M | $4.9M | $10.4M | $17.8M | $24.0M | $30.2M | $14.8M | $17.8M | $18.3M |
| Total assets | $122.5M | $122.5M | $135.5M | $123.9M | $115.6M | $111.7M | $109.8M | $99.8M | $92.7M | $76.2M |
| Accounts payable | $911.0K | $696.0K | $769.0K | $1.2M | $761.0K | $788.0K | $1.1M | $975.0K | $934.0K | $906.0K |
| Total current liabilities | $2.6M | $3.8M | $4.7M | $6.0M | $3.7M | $3.8M | $3.4M | $5.3M | $5.3M | $3.0M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | — |
| Total liabilities | $3.3M | $5.1M | $7.1M | $9.6M | $8.5M | $8.9M | $8.7M | $10.8M | $14.6M | $6.9M |
| Retained earnings | $128.7M | $129.3M | $138.3M | $126.0M | $115.3M | $111.0M | $110.8M | $100.1M | $85.6M | $81.1M |
| Total equity | $119.3M | $117.4M | $128.3M | $114.3M | $107.1M | $102.8M | $101.1M | $89.0M | $78.1M | $69.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $14.7M | $14.8M | $22.3M | $21.1M | $21.2M | $20.1M | $17.1M | $16.8M | $16.9M | $14.5M |
| Depreciation and amortisation | $826.0K | $730.0K | $623.0K | $612.0K | $636.0K | $655.0K | $700.0K | $765.0K | $660.0K | $610.0K |
| Stock-based compensation | $373.0K | $256.0K | $225.0K | $183.0K | $166.0K | $160.0K | $113.0K | $64.0K | $129.0K | $92.0K |
| Capital expenditure | $371.0K | $230.0K | $639.0K | $809.0K | $552.0K | $860.0K | $540.0K | $402.0K | $1.6M | $3.3M |
| Investing cash flow | -$371.0K | -$208.0K | -$639.0K | -$818.0K | -$552.0K | -$860.0K | -$21.5M | $534.0K | -$1.6M | -$3.3M |
| Financing cash flow | -$12.3M | -$23.8M | -$4.2M | -$5.5M | -$10.9M | -$10.7M | -$4.2M | -$4.8M | -$2.7M | -$6.3M |
| Dividends paid | $4.0M | $4.3M | $4.3M | $3.2M | $11.5M | $4.1M | $4.1M | $4.0M | $3.0M | $3.9M |
| Buybacks | $8.4M | $20.0M | $0 | $2.5M | $0 | $7.0M | $398.0K | $1.2M | $0 | — |
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 0001096906-26-000395.
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