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 48.1x (a premium multiple) and a P/S of 5.0x. The price-to-book ratio of 11.2x 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.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation