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Side-by-side financial comparison of ICU MEDICAL INC (ICUI) and ITRON, INC. (ITRI). Click either name above to swap in a different company.
ITRON, INC. is the larger business by last-quarter revenue ($587.0M vs $540.7M, roughly 1.1× ICU MEDICAL INC). ITRON, INC. runs the higher net margin — 9.1% vs -2.9%, a 12.0% gap on every dollar of revenue. On growth, ITRON, INC. posted the faster year-over-year revenue change (-3.3% vs -14.1%). ITRON, INC. produced more free cash flow last quarter ($79.0M vs $36.0M). Over the past eight quarters, ITRON, INC.'s revenue compounded faster (-1.8% CAGR vs -2.3%).
ICU Medical, Inc. is a medical technology company based in San Clemente, California. ICU Medical products are designed to prevent bloodstream infections and protect healthcare workers from exposure to infectious diseases or hazardous drugs. ICU Medical product line includes intravenous therapy (IV) products, pumps, needle-free vascular access devices, custom infusion sets, closed system hazardous drug handling devices and systems, sensor catheters, needle-free closed blood sampling systems, a...
Itron, Inc. is an American technology company that offers products and services for energy and water resource management. It is headquartered in Liberty Lake, Washington, United States. The company's products measure and analyze electricity, gas and water consumption. Its products include electricity, gas, water and thermal energy measurement devices and control technology, communications systems, software, as well as managed and consulting services.
ICUI vs ITRI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $540.7M | $587.0M |
| Net Profit | $-15.7M | $53.6M |
| Gross Margin | 37.5% | 40.3% |
| Operating Margin | 1.0% | 11.5% |
| Net Margin | -2.9% | 9.1% |
| Revenue YoY | -14.1% | -3.3% |
| Net Profit YoY | 34.0% | -18.0% |
| EPS (diluted) | $-0.63 | $1.18 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $587.0M | ||
| Q4 25 | $540.7M | $571.7M | ||
| Q3 25 | $537.0M | $581.6M | ||
| Q2 25 | $548.9M | $606.8M | ||
| Q1 25 | $604.7M | $607.2M | ||
| Q4 24 | $629.8M | $612.9M | ||
| Q3 24 | $589.1M | $615.5M | ||
| Q2 24 | $596.5M | $609.1M |
| Q1 26 | — | $53.6M | ||
| Q4 25 | $-15.7M | $101.6M | ||
| Q3 25 | $-3.4M | $65.6M | ||
| Q2 25 | $35.3M | $68.3M | ||
| Q1 25 | $-15.5M | $65.5M | ||
| Q4 24 | $-23.8M | $58.1M | ||
| Q3 24 | $-33.0M | $78.0M | ||
| Q2 24 | $-21.4M | $51.3M |
| Q1 26 | — | 40.3% | ||
| Q4 25 | 37.5% | 40.5% | ||
| Q3 25 | 37.4% | 37.7% | ||
| Q2 25 | 37.9% | 36.9% | ||
| Q1 25 | 34.7% | 35.8% | ||
| Q4 24 | 36.1% | 34.9% | ||
| Q3 24 | 34.8% | 34.1% | ||
| Q2 24 | 34.8% | 34.6% |
| Q1 26 | — | 11.5% | ||
| Q4 25 | 1.0% | 13.8% | ||
| Q3 25 | 2.6% | 14.1% | ||
| Q2 25 | 1.9% | 12.6% | ||
| Q1 25 | 2.1% | 12.6% | ||
| Q4 24 | 6.0% | 10.2% | ||
| Q3 24 | 1.4% | 12.0% | ||
| Q2 24 | 1.3% | 10.6% |
| Q1 26 | — | 9.1% | ||
| Q4 25 | -2.9% | 17.8% | ||
| Q3 25 | -0.6% | 11.3% | ||
| Q2 25 | 6.4% | 11.3% | ||
| Q1 25 | -2.6% | 10.8% | ||
| Q4 24 | -3.8% | 9.5% | ||
| Q3 24 | -5.6% | 12.7% | ||
| Q2 24 | -3.6% | 8.4% |
| Q1 26 | — | $1.18 | ||
| Q4 25 | $-0.63 | $2.20 | ||
| Q3 25 | $-0.14 | $1.41 | ||
| Q2 25 | $1.43 | $1.47 | ||
| Q1 25 | $-0.63 | $1.42 | ||
| Q4 24 | $-0.97 | $1.26 | ||
| Q3 24 | $-1.35 | $1.70 | ||
| Q2 24 | $-0.88 | $1.10 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $712.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.1B | $1.6B |
| Total Assets | $4.1B | $4.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $712.9M | ||
| Q4 25 | — | $1.0B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | $308.6M | $1.1B | ||
| Q3 24 | $312.5M | $982.5M | ||
| Q2 24 | $302.6M | $920.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.3B |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $2.1B | $1.7B | ||
| Q3 25 | $2.1B | $1.7B | ||
| Q2 25 | $2.1B | $1.6B | ||
| Q1 25 | $2.0B | $1.5B | ||
| Q4 24 | $2.0B | $1.4B | ||
| Q3 24 | $2.0B | $1.3B | ||
| Q2 24 | $2.0B | $1.2B |
| Q1 26 | — | $4.0B | ||
| Q4 25 | $4.1B | $3.7B | ||
| Q3 25 | $4.1B | $3.7B | ||
| Q2 25 | $4.1B | $3.6B | ||
| Q1 25 | $4.2B | $3.5B | ||
| Q4 24 | $4.2B | $3.4B | ||
| Q3 24 | $4.3B | $3.4B | ||
| Q2 24 | $4.3B | $3.3B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.74× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.91× | ||
| Q3 24 | — | 0.94× | ||
| Q2 24 | — | 1.02× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $60.6M | $85.5M |
| Free Cash FlowOCF − Capex | $36.0M | $79.0M |
| FCF MarginFCF / Revenue | 6.6% | 13.5% |
| Capex IntensityCapex / Revenue | 4.6% | — |
| Cash ConversionOCF / Net Profit | — | 1.60× |
| TTM Free Cash FlowTrailing 4 quarters | $91.8M | $394.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $85.5M | ||
| Q4 25 | $60.6M | $119.3M | ||
| Q3 25 | $56.7M | $117.8M | ||
| Q2 25 | $11.2M | $96.7M | ||
| Q1 25 | $51.3M | $72.1M | ||
| Q4 24 | $40.2M | $79.8M | ||
| Q3 24 | $36.1M | $65.3M | ||
| Q2 24 | $82.0M | $51.7M |
| Q1 26 | — | $79.0M | ||
| Q4 25 | $36.0M | $111.5M | ||
| Q3 25 | $27.6M | $113.4M | ||
| Q2 25 | $-8.5M | $90.7M | ||
| Q1 25 | $36.7M | $67.5M | ||
| Q4 24 | $16.1M | $70.2M | ||
| Q3 24 | $16.2M | $58.7M | ||
| Q2 24 | $62.5M | $44.6M |
| Q1 26 | — | 13.5% | ||
| Q4 25 | 6.6% | 19.5% | ||
| Q3 25 | 5.1% | 19.5% | ||
| Q2 25 | -1.5% | 14.9% | ||
| Q1 25 | 6.1% | 11.1% | ||
| Q4 24 | 2.6% | 11.4% | ||
| Q3 24 | 2.7% | 9.5% | ||
| Q2 24 | 10.5% | 7.3% |
| Q1 26 | — | — | ||
| Q4 25 | 4.6% | 1.4% | ||
| Q3 25 | 5.4% | 0.8% | ||
| Q2 25 | 3.6% | 1.0% | ||
| Q1 25 | 2.4% | 0.8% | ||
| Q4 24 | 3.8% | 1.6% | ||
| Q3 24 | 3.4% | 1.1% | ||
| Q2 24 | 3.3% | 1.2% |
| Q1 26 | — | 1.60× | ||
| Q4 25 | — | 1.17× | ||
| Q3 25 | — | 1.80× | ||
| Q2 25 | 0.32× | 1.41× | ||
| Q1 25 | — | 1.10× | ||
| Q4 24 | — | 1.37× | ||
| Q3 24 | — | 0.84× | ||
| Q2 24 | — | 1.01× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ICUI
| Infusion Consumables | $284.7M | 53% |
| Infusion Systems | $176.3M | 33% |
| Vital Care | $79.7M | 15% |
ITRI
| Product revenues | $477.8M | 81% |
| Service revenues | $109.2M | 19% |
