# Utah Medical Products, Inc. (UTMD)

> Source: Nexqual · https://nexqual.com/UTMD · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, Utah Medical Products, Inc. (UTMD), nexqual.com/UTMD" · informational, not investment advice.

**Price:** USD 74.23 (-1.11% on the day) · last close of Oct 23, 2026; US market closed, not a live price. Prev close 75.06 · day 74.04–75.13 · 52w 53.66–76.89 · market cap $236M · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $36.1M, net income $10.5M (29.0% margin), free cash flow $11.4M (SEC filings).
- Valuation: P/E 22.5x (avg 16.7x at the last 3 fiscal year-ends), EV/EBITDA 13.4x, net cash $87.3M.
- Analysts: None.
- Total return with dividends: 1Y +25.2% vs S&P 500 +13.4%; 5Y -15.5% vs S&P 500 +76.9%.
- Next earnings: 2026-10-22, EPS estimate USD —, revenue estimate $0K.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $49.1M | $52.3M | $50.2M | $40.9M | $38.5M | $36.1M |
| Gross profit | $30.9M | $32.2M | $30.0M | $24.1M | $22.0M | — |
| Operating income | $18.9M | $19.8M | $16.8M | $13.6M | $11.4M | $10.3M |
| Net income | $14.8M | $16.5M | $16.6M | $13.9M | $11.3M | $10.5M |
| EPS (diluted) | $4.04 | $4.52 | $4.57 | $3.96 | $3.48 | — |
| Free cash flow | $20.7M | $20.3M | $21.6M | $14.6M | $14.3M | $11.4M |
| Gross margin | 63.0% | 61.6% | 59.8% | 59.0% | 57.1% | — |
| Operating margin | 38.5% | 37.9% | 33.4% | 33.2% | 29.6% | 28.4% |
| Net margin | 30.1% | 31.5% | 33.1% | 33.9% | 29.3% | 29.0% |
| Revenue growth | +16.3% | +6.6% | -3.9% | -18.6% | -5.8% | — |
| Cash + short-term investments | $61.0M | $75.1M | $92.9M | $83.0M | $85.8M | — |
| Total debt | $0K | $0K | $0K | $0K | $0K | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 22.5x · P/S 6.5x · EV/EBITDA 13.4x · EV/Sales 4.1x · P/FCF 20.6x · P/B 1.9x · FCF yield 4.86% · Earnings yield 4.45% · Dividend yield (paid, TTM) 1.67% · Buyback yield (TTM) 0.79% · Net cash $87.3M · EV $148M
P/E at fiscal year-ends: Dec 2025 16.1x, Dec 2024 15.5x, Dec 2023 18.4x.

## Analysts
Consensus None.

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +25.2% | -15.5% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | +25.3% | -3.3% |
| Volatility (annualized) | 27.8% | 25.1% |
| Max drawdown | -13.2% (Jun 2026→Jul 2026) | -53.5% (Nov 2021→Apr 2025) |

## Peers (Medical Instruments & Supplies)
KMTS (Kestra Medical Technologies, Lt) USD 28.76 +1.55% · XRAY (DENTSPLY SIRONA Inc.) USD 9.43 -0.74% · LMAT (LeMaitre Vascular, Inc.) USD 84.45 -1.03% · ATRC (AtriCure, Inc.) USD 58.97 -0.56% · WRBY (Warby Parker Inc.) USD 25.91 +0.93% · PLSE (Pulse Biosciences, Inc) USD 53.02 +0.65%

## More
Full page: https://nexqual.com/UTMD · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Gynecology Electrosurgery Urology | $4.3M | 50.2% | -11.0% |
| Neonatal | $1.9M | 22.5% | -8.7% |
| Blood Pressure Monitoring & Accessories | $1.3M | 14.8% | -37.4% |
| Obstetrics | $1.1M | 12.5% | +4.0% |
| Total revenue | $8.5M | 100% | — |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Domestic Us | $5.2M | 60.6% | -11.9% |
| Outside Us | $3.4M | 39.4% | -17.7% |
| Total revenue | $8.5M | 100% | — |

## Company outlook (8-K filed 2026-10-22)

- "However, the 2026 growth in new biopharm sales has been slower than expected."
- "In 4Q 2025 and 4Q 2024, the two former customers with zero combined sales in 2026 were just $35 and $338, so UTMD does not expect the same negative comparisons with the past in 4Q 2026."
- "Looking forward, UTMD expects the combined 4Q 2026 replacement sales to be higher than in both former 4Q periods."
- "Although sales to other biopharma OEM customers in 2026 have not developed as soon as projected at the beginning of the year, finding a replacement China distributor for BPM kits and the acquisition of Orion Medical was also not projected."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter | — | — | — | $0 | — |
| Next quarter | — | — | — | $0 | — |
| Current fiscal year (ends 2017-12-31) | — | — | — | $0 | — |
| Next fiscal year | — | — | — | $0 | — |