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Side-by-side financial comparison of MASIMO CORP (MASI) and Ralliant Corp (RAL). Click either name above to swap in a different company.
Ralliant Corp is the larger business by last-quarter revenue ($529.1M vs $371.5M, roughly 1.4× MASIMO CORP). Ralliant Corp runs the higher net margin — 7.5% vs -27.0%, a 34.6% gap on every dollar of revenue. On growth, Ralliant Corp posted the faster year-over-year revenue change (-0.5% vs -26.4%). Ralliant Corp produced more free cash flow last quarter ($126.6M vs $50.9M).
Masimo Corporation is an American health technology and consumer electronics company headquartered in Irvine, California. The company develops patient monitoring devices, non-invasive sensors, and related software platforms used in hospital and home settings. Masimo has also operated in the consumer audio and wearable device markets.
MASI vs RAL — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $371.5M | $529.1M |
| Net Profit | $-100.4M | $39.9M |
| Gross Margin | 62.1% | 50.8% |
| Operating Margin | 22.5% | 9.8% |
| Net Margin | -27.0% | 7.5% |
| Revenue YoY | -26.4% | -0.5% |
| Net Profit YoY | -1124.5% | -56.1% |
| EPS (diluted) | $-1.84 | $0.35 |
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.
| Q3 25 | $371.5M | $529.1M | ||
| Q2 25 | $370.9M | $503.3M | ||
| Q1 25 | $372.0M | — | ||
| Q4 24 | $600.7M | — | ||
| Q3 24 | $504.6M | $531.7M | ||
| Q2 24 | $496.3M | $533.7M | ||
| Q1 24 | $492.8M | — | ||
| Q4 23 | $548.9M | — |
| Q3 25 | $-100.4M | $39.9M | ||
| Q2 25 | $51.3M | $47.6M | ||
| Q1 25 | $-170.7M | — | ||
| Q4 24 | $-349.6M | — | ||
| Q3 24 | $9.8M | $90.9M | ||
| Q2 24 | $16.0M | $64.8M | ||
| Q1 24 | $18.9M | — | ||
| Q4 23 | $33.9M | — |
| Q3 25 | 62.1% | 50.8% | ||
| Q2 25 | 62.9% | 49.3% | ||
| Q1 25 | 62.9% | — | ||
| Q4 24 | 40.7% | — | ||
| Q3 24 | 52.2% | 52.6% | ||
| Q2 24 | 51.3% | 51.5% | ||
| Q1 24 | 49.0% | — | ||
| Q4 23 | 47.9% | — |
| Q3 25 | 22.5% | 9.8% | ||
| Q2 25 | 17.4% | 11.7% | ||
| Q1 25 | 21.0% | — | ||
| Q4 24 | -59.8% | — | ||
| Q3 24 | 6.0% | 20.9% | ||
| Q2 24 | 5.7% | 19.7% | ||
| Q1 24 | 6.9% | — | ||
| Q4 23 | 8.0% | — |
| Q3 25 | -27.0% | 7.5% | ||
| Q2 25 | 13.8% | 9.5% | ||
| Q1 25 | -45.9% | — | ||
| Q4 24 | -58.2% | — | ||
| Q3 24 | 1.9% | 17.1% | ||
| Q2 24 | 3.2% | 12.1% | ||
| Q1 24 | 3.8% | — | ||
| Q4 23 | 6.2% | — |
| Q3 25 | $-1.84 | $0.35 | ||
| Q2 25 | $0.94 | $0.42 | ||
| Q1 25 | $-3.12 | — | ||
| Q4 24 | $-6.54 | — | ||
| Q3 24 | $0.18 | $0.81 | ||
| Q2 24 | $0.29 | $0.57 | ||
| Q1 24 | $0.35 | — | ||
| Q4 23 | $0.63 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $312.3M | $264.2M |
| Total DebtLower is stronger | $559.1M | $1.1B |
| Stockholders' EquityBook value | $810.0M | $3.0B |
| Total Assets | $1.8B | $5.3B |
| Debt / EquityLower = less leverage | 0.69× | 0.39× |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $312.3M | $264.2M | ||
| Q2 25 | $149.6M | $198.6M | ||
| Q1 25 | $130.8M | — | ||
| Q4 24 | $177.6M | — | ||
| Q3 24 | $158.5M | — | ||
| Q2 24 | $129.6M | — | ||
| Q1 24 | $157.6M | — | ||
| Q4 23 | $163.0M | — |
| Q3 25 | $559.1M | $1.1B | ||
| Q2 25 | $613.7M | $1.1B | ||
| Q1 25 | $651.0M | — | ||
| Q4 24 | $765.2M | — | ||
| Q3 24 | $772.6M | — | ||
| Q2 24 | $781.6M | — | ||
| Q1 24 | $876.0M | — | ||
| Q4 23 | $906.0M | — |
| Q3 25 | $810.0M | $3.0B | ||
| Q2 25 | $1.0B | $3.0B | ||
| Q1 25 | $946.4M | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.5B | $4.0B | ||
| Q2 24 | $1.4B | $4.0B | ||
| Q1 24 | $1.4B | — | ||
| Q4 23 | $1.4B | — |
| Q3 25 | $1.8B | $5.3B | ||
| Q2 25 | $2.4B | $5.2B | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $2.9B | — | ||
| Q1 24 | $3.0B | — | ||
| Q4 23 | $3.0B | — |
| Q3 25 | 0.69× | 0.39× | ||
| Q2 25 | 0.59× | 0.38× | ||
| Q1 25 | 0.69× | — | ||
| Q4 24 | 0.73× | — | ||
| Q3 24 | 0.53× | — | ||
| Q2 24 | 0.57× | — | ||
| Q1 24 | 0.64× | — | ||
| Q4 23 | 0.66× | — |
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 | $56.8M | $138.6M |
| Free Cash FlowOCF − Capex | $50.9M | $126.6M |
| FCF MarginFCF / Revenue | 13.7% | 23.9% |
| Capex IntensityCapex / Revenue | 1.6% | 2.3% |
| Cash ConversionOCF / Net Profit | — | 3.47× |
| TTM Free Cash FlowTrailing 4 quarters | $191.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $56.8M | $138.6M | ||
| Q2 25 | $69.4M | — | ||
| Q1 25 | $31.1M | — | ||
| Q4 24 | $50.5M | — | ||
| Q3 24 | $25.6M | — | ||
| Q2 24 | $74.5M | — | ||
| Q1 24 | $45.8M | — | ||
| Q4 23 | $77.1M | — |
| Q3 25 | $50.9M | $126.6M | ||
| Q2 25 | $65.6M | — | ||
| Q1 25 | $28.5M | — | ||
| Q4 24 | $46.0M | — | ||
| Q3 24 | $16.9M | — | ||
| Q2 24 | $66.9M | — | ||
| Q1 24 | $37.6M | — | ||
| Q4 23 | $66.2M | — |
| Q3 25 | 13.7% | 23.9% | ||
| Q2 25 | 17.7% | — | ||
| Q1 25 | 7.7% | — | ||
| Q4 24 | 7.7% | — | ||
| Q3 24 | 3.3% | — | ||
| Q2 24 | 13.5% | — | ||
| Q1 24 | 7.6% | — | ||
| Q4 23 | 12.1% | — |
| Q3 25 | 1.6% | 2.3% | ||
| Q2 25 | 1.0% | — | ||
| Q1 25 | 0.7% | — | ||
| Q4 24 | 0.7% | — | ||
| Q3 24 | 1.7% | — | ||
| Q2 24 | 1.5% | — | ||
| Q1 24 | 1.7% | — | ||
| Q4 23 | 2.0% | — |
| Q3 25 | — | 3.47× | ||
| Q2 25 | 1.35× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.61× | — | ||
| Q2 24 | 4.66× | — | ||
| Q1 24 | 2.42× | — | ||
| Q4 23 | 2.27× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MASI
Segment breakdown not available.
RAL
| Industrial Manufacturing | $111.1M | 21% |
| Defense And Space | $93.6M | 18% |
| Diversified Electronics | $91.0M | 17% |
| Test And Measurement | $76.8M | 15% |
| Communications | $60.7M | 11% |
| Semiconductors | $51.4M | 10% |
| Other Direct End Markets | $44.4M | 8% |
