Insulet CorporationPODD
NasdaqGS•Healthcare•Medical Devices
Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes in the United States and internationally. The company offers Omnipod platform products comprising Omnipod 5 automated insulin delivery system, which includes a proprietary AID algorithm embedded in the pod that integrates with a third-party continuous glucose monitor to obtain glucose values through wireless Bluetooth communication; Omnipod DASH insulin management system that features a Bluetooth enabled pod that is controlled by a smartphone-like personal diabetes manager with a color touch screen user interface; and the Omnipod Insulin Management System. It also provides pods for Amgen for use in the Neulasta Onpro kit, which is a delivery system to help reduce the risk of infection after intense chemotherapy. The company sells its products to end-users through the pharmacy channel; and independent distributors. Insulet Corporation was incorporated in 2000 and is headquartered in Acton, Massachusetts.
Insulet Corporation (PODD) reported trailing twelve months revenue of $2.90B as of March 2026, a 31.9% increase year-over-year. Quarterly revenue reached $761.70M, reflecting continued top-line momentum.
Insulet Corporation generated $302.80M in TTM net income, with quarterly EBITDA of $148.30M. The operating margin expanded from 15.6% to 16.0%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (16.0%) and net margin (12.0%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 6.2% a year ago, signaling stronger bottom-line efficiency.
PODD trades at a P/E of 34.1x (a premium multiple) and a P/S of 3.6x. The price-to-book ratio of 7.9x indicates a significant premium over book value.
The company generated $89.50M in free cash flow over the trailing twelve months, a 73.8% increase year-over-year, indicating cash generation ability. The balance sheet shows $2.99B in total assets with $929.50M in long-term debt against $1.30B in stockholders equity for a debt-to-equity ratio of 0.7. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~16.4%, suggesting durable pricing power and cost discipline.
Consistently high ROE averaging 26.9% suggests a durable competitive advantage and efficient capital allocation.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (6 of 7 quarters up), with ~47.3% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~17.5% — no sign of cost or pricing stress.
FCF covers net income by 1.8x on average — earnings are well-supported by cash generation.
D/E ratio is 0.7 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.