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Maker of wearable Zio heart-monitoring patches and AI-based analysis services diagnosing cardiac arrhythmias.
Maker of wearable Zio heart-monitoring patches and AI-based analysis services diagnosing cardiac arrhythmias.
Is paid per monitoring service, billed to Medicare and private insurers, so reimbursement rates and coverage matter as much as the devices. Patients wear the patch for about two weeks and mail it back, and the company's analysis and clinician review produce the report.
Moat: narrow (data, brand, switching costs). Large proprietary ECG dataset trains its arrhythmia-detection algorithms, and physicians are used to its workflow.
Headquarters: San Francisco, California · Founded: 2006 · Employees: 2,400
Size iRhythm (IRTC) is a United States Health Care company (Medical Specialties) with a market value of $2.97B, the 1563rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $90.22 on 6 Nov 2026.
Performance Over six months the shares fell 25.2%, against +5.4% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 25.6% over the last twelve months (peer median +4.7%); the operating margin is 1.4% (peer median 12.2%).
Valuation It trades at 182.6× forward earnings against a peer median of 27.1× (2nd most expensive of 19).
Capital Return on invested capital runs 7.8 points below its cost of capital (10.6% WACC).
Credit iRhythm has 1 bond outstanding ($661M).
Short interest Short interest is 9.4% of the free float (15 Oct 2026).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $825M | $747M | $592M | $493M | $411M |
| Revenue growth | — | +26% | +20% | +20% | — |
| Gross profit | $590M | $527M | $408M | $332M | $282M |
| EBITDA | $38.0M | -$10.3M | -$56.7M | -$91.9M | -$67.6M |
| Net income | -$13.9M | -$44.6M | -$113M | -$123M | -$116M |
| Free cash flow | $39.0M | $34.5M | -$30.6M | -$90.5M | -$52.8M |
| Capital expenditure | $47.0M | $46.3M | $33.9M | $40.4M | $29.8M |
| Total debt | $727M | $731M | $737M | $130M | $131M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| iRhythm IRTC | $2.97B | -25% | +26% | 1% | 182.6× | n/a |
| Medtronic MDT | $130B | +35% | +10% | 20% | 16.9× | 8.6% |
| Boston Scientific BSX | $62.0B | -21% | +9% | 21% | 13.8× | 5.0% |
| GE HealthCare GEHC | $37.2B | +30% | +7% | 14% | 15.4× | 4.3% |
| Koninklijke Philips PHIA.AS | $29.8B | +24% | -1% | 10% | 16.5× | 5.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | IRTC | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.1% | +7.9% | 4th lowest of 21 |
| 6-month return | -25.2% | +5.4% | 2nd lowest of 21 |
| Distance from 52-week high | -53.1% | -28.9% | 2nd lowest of 21 |
| Revenue growth (TTM) | +25.6% | +4.7% | 3rd highest of 20 |
| Operating margin | 1.4% | 12.2% | 4th lowest of 20 |
| Forward P/E | 182.6× | 27.1× | 2nd most expensive of 19 |
| ROIC minus cost of capital | -7.8 pp | -0.6 pp | 3rd lowest of 20 |
| Net debt / EBITDA | 3.6× | 1.7× | 2nd most indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| iRhythm IRTC | United States | $2.97B | -25% | +26% | 1% | 182.6× | n/a | n/a |
| AtriCure ATRC | United States | $2.98B | +123% | +14% | 3% | 220.7× | 55.7% | +20.9% |
| Axogen AXGN | United States | $2.99B | +19% | +24% | -5% | 76.5× | 48.8% | +14.9% |
| TransMedics TMDX | United States | $3.06B | +30% | +26% | 12% | 48.5× | 35.6% | +88.2% |
| COMET COTN.SW | Switzerland | $2.84B | -9% | -3% | 6% | 34.0× | n/a | n/a |
| Celcuity CELC | United States | $3.27B | -49% | n/a | n/a | n/a | n/a | n/a |
| Sumitomo Bakelite 4203.T | Japan | $3.31B | +15% | +15% | 13% | 14.9× | 6.8% | +8.9% |
| Zhende Medical 603301.SS | China | $3.33B | -8% | +8% | 7% | 43.5× | 23.2% | -16.1% |
| Ottobock SE & Co. KGaA OBCK.DE | Germany | $3.36B | -25% | +5% | 15% | 15.4× | 3.5% | +8.0% |
| Medacta MOVE.SW | Switzerland | $2.61B | -21% | +8% | 15% | 24.3× | n/a | n/a |
| Autobio Diagnostics 603658.SS | China | $3.41B | +19% | +3% | 25% | 20.6× | -0.3% | +7.2% |
| MGI Tech 688114.SS | China | $3.42B | +9% | +2% | -7% | n/a | 46.5% | -0.1% |
| Lepu Medical Technology (Beijing) 300003.SZ | China | $3.42B | -12% | -1% | 13% | 26.3× | 9.6% | -4.2% |
| Ambu A/S AMBU-B.CO | Denmark | $3.42B | +40% | +5% | 11% | 28.1× | 12.6% | +11.1% |
| Neogen NEOG | United States | $2.57B | +30% | 0% | 0% | 34.6× | n/a | n/a |
| Double Medical Technology 002901.SZ | China | $2.56B | -3% | +13% | 26% | 25.9× | 8.3% | +10.4% |
| Carl Zeiss Meditec AFX.DE | Germany | $3.51B | +40% | 0% | 8% | 26.8× | 13.7% | +10.8% |
| EBOS EBO.AX | Australia | $2.52B | +1% | +3% | 3% | 15.2× | 4.3% | +6.8% |
| iRay Technology 688301.SS | China | $3.54B | -8% | +58% | 24% | 27.5× | n/a | n/a |
| Micro-Tech (Nanjing) 688029.SS | China | $2.46B | +3% | +6% | 18% | 29.0× | 12.8% | +19.2% |
| Jafron Biomedical 300529.SZ | China | $2.46B | +8% | +1% | 37% | 25.4× | 6.9% | +0.6% |
iRhythm has 1 bond outstanding with $661M face value.