Company Sees FY26 Adjusted EBITDA of $400M to $430M
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 19 2026
0mins
Should l Buy ICUI?
Sees FY26 adjusted EBITDA $400M-$430M. The company said, "For fiscal year 2026 the Company estimates GAAP net income to be in the range of $26 million to $44 million and GAAP net earnings per share estimated to be in the range of $1.03 to $1.74. For the fiscal year 2026, the Company expects adjusted EBITDA to be in the range of $400 million to $430 million, and adjusted EPS to be in the range of $7.75 to $8.45."
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Analyst Views on ICUI
Wall Street analysts forecast ICUI stock price to rise
3 Analyst Rating
2 Buy
1 Hold
0 Sell
Moderate Buy
Current: 125.380
Low
172.00
Averages
173.50
High
175.00
Current: 125.380
Low
172.00
Averages
173.50
High
175.00
About ICUI
ICU Medical, Inc. develops, manufactures and sells medical products used in infusion therapy, vascular access, and vital care applications. Its product portfolio includes ambulatory, syringe, and large volume intravenous (IV) pumps and safety software, dedicated and non-dedicated IV sets, needlefree IV connectors, peripheral IV catheters, sharps safety products, and sterile IV solutions. Its product offerings also include Consumables, Infusion Systems and Vital Care. Its consumables business unit includes infusion therapy, oncology, vascular access and tracheostomy products. Its infusion systems offer a portfolio of infusion pumps, software and professional services. Its vital care business unit includes, hemodynamic monitoring, general anesthesia and respiratory, temperature management solutions and regional anesthesia/pain management products. Its infusion therapy products include infusion sets, extension sets, needle-free connectors, and disinfection caps.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
- Investigation Background: Purcell & Lefkowitz LLP is investigating ICU Medical, Inc. to determine if the company's directors breached their fiduciary duties in recent corporate actions, potentially impacting shareholder rights.
- Shareholder Rights Protection: The investigation focuses on safeguarding ICU Medical shareholders' interests, and shareholders seeking more information can contact the law firm through the provided details for free legal consultations.
- Law Firm Overview: Purcell & Lefkowitz LLP is dedicated to representing shareholders nationwide, specializing in cases of securities fraud, breaches of fiduciary duty, and other corporate misconduct, highlighting its expertise in shareholder rights protection.
- Potential Impact: This investigation could negatively affect ICU Medical's corporate governance and shareholder trust, and if any wrongdoing by the board is found, it may lead to legal liabilities and damage to the company's reputation.
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- Oversold Signal: ICU Medical Inc (Ticker: ICUI) saw its RSI drop to 29.96 during Friday's trading, indicating the stock has entered oversold territory, suggesting that the recent heavy selling may be exhausting, prompting bullish investors to seek buying opportunities.
- Price Fluctuation: ICUI shares hit a low of $129.18, with the current trading price at $132.00, showing significant volatility compared to the 52-week low of $107 and high of $160.29, reflecting drastic market sentiment changes.
- Market Comparison: Compared to the S&P 500 ETF (SPY) RSI of 41.2, ICUI's oversold condition may attract bullish investors' attention, leading them to evaluate potential entry points for investment.
- Investor Sentiment: Despite the current poor stock performance, the oversold signal could spark investor interest, especially if the market rebounds, potentially allowing ICUI's stock price to recover and present investment opportunities.
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- Revenue Growth: ICU Medical reported Q4 2025 revenue of $536 million, reflecting a 14% decline in reported terms but achieving 2% organic growth, with a full-year organic growth of 5%, indicating the company's stability and growth potential in the market.
- Cost and Profit Analysis: The adjusted gross margin stood at 40.5%, aligning with prior guidance, while adjusted EBITDA was $98 million, a 7% decrease year-over-year primarily due to the deconsolidation of IV Solutions and tariffs, highlighting challenges in cost control.
- Future Outlook: The company anticipates organic revenue growth in the low to mid-single-digit range for 2026, with an adjusted EBITDA target of $400 million to $430 million, reflecting management's confidence in future growth and market demand.
- Strategic Integration Progress: Management emphasized the completion of several integration milestones, including the closure of the FDA warning letter, which is expected to provide more strategic options for the company and further drive innovation and operational synergies.
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- Revenue Decline: ICU Medical reported a nearly 14% year-over-year decline in total revenue for Q4 2025, dropping to $540.40 million from $629.81 million, indicating weakened market demand and increased competition.
- Narrowed Net Loss: The company's net loss for Q4 narrowed to $15.73 million, or $0.64 per share, yet adjusted net income fell to $48.12 million, or $1.91 per share, reflecting ongoing pressure on profitability despite improvements.
- Annual Performance Improvement: For the full year 2025, ICU Medical reported a net income of $0.73 million, or $0.03 per share, a significant turnaround from a net loss of $117.69 million, showcasing effective cost control and business restructuring efforts.
- Future Outlook: Looking ahead, ICU Medical expects net income for 2026 to range between $26 million and $44 million, with adjusted EBITDA projected at $400 million to $430 million, demonstrating confidence in future growth despite ongoing market challenges.
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- Q4 Financial Performance: ICU Medical reported a net loss of $15.7 million for Q4 2026, translating to a loss of $0.64 per share, which is an improvement from a net loss of $23.8 million or $0.97 per share in Q4 2024, indicating efforts in cost control.
- Adjusted EPS Decline: The adjusted earnings per share for Q4 were $1.91, down from $2.11 in 2024, reflecting challenges in revenue and profitability that may impact investor confidence moving forward.
- Revenue Decline: Q4 revenue stood at $540.7 million, a decrease from $629.8 million in the same period last year, suggesting weak market demand and the need for strategic measures to regain growth momentum.
- Future Outlook: The company projects net income for fiscal year 2026 to range between $26 million and $44 million, with earnings per share estimated between $1.03 and $1.74, reflecting a cautiously optimistic outlook from management regarding future profitability.
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- Earnings Beat: ICU Medical reported a Q4 non-GAAP EPS of $1.91, exceeding expectations by $0.22, indicating strong profitability despite revenue challenges.
- Revenue Decline: The company recorded Q4 revenue of $540.7 million, a 14.1% year-over-year decline, yet this figure aligns with market expectations, showcasing stability in a challenging environment.
- Fiscal Year 2026 Guidance: ICU Medical estimates GAAP net income for FY 2026 to range between $26 million and $44 million, with GAAP EPS projected between $1.03 and $1.74, reflecting cautious optimism about future profitability.
- Adjusted EBITDA Outlook: The company anticipates adjusted EBITDA for FY 2026 to be between $400 million and $430 million, with adjusted EPS expected to range from $7.75 to $8.45, demonstrating confidence in strategic growth plans moving forward.
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