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IRTC

iRhythm Holdings, Inc.

Healthcare • CIK: 0001388658

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Market Cap
$5.68B
P/E (TTM)
-127.7x
Rev Growth (TTM)
+26.2%
Net Margin (TTM)
-6.0%
FCF Yield (TTM)
0.6%
FCF Margin (TTM)
4.6%

LATEST EARNINGS

Q4 2025
15 days ago
View source
Revenue
$208.89B
+27.1%
Net Income
$5.58B
EPS
$0.17
Gross
70.9% +0.9%
Operating
1.1% +3.6%
Net
2.7% +3.5%
  • Achieved first quarter of positive GAAP net income in Company history.
  • Record quarterly revenue of $208.9 million, a 27.1% increase compared to Q4 2024.
  • Full year revenue of $747.1 million, a 26.2% increase compared to full year 2024.
  • Gross margin improved to 70.9% in Q4 2025, a 90-basis point increase YoY.

Cash Flow Health

Free Cash Flow6/8 positive
TTM$35M
Q4 '25
$14M-28%
Q3 '25
$20M+16%
FCF Margin
TTM4.6%
Q4 '256.9%-33%
Sector: 0.0%Above Avg
OCF Margin10.8%
OCF/NI-1.82x
CapEx Coverage1.7x
FCF Yield0.6%
FCF Growth (2Y)
Cash Conversion Cycle
52 days
DSO: 39+DIO: 29DPO: 16

Capital Allocation & Returns

Total Shareholder Yield
TTM0.0%
Div Yield0.0%

Insufficient data

Dividend & Payout Metrics
Dividend Yield (TTM)0.0%
Free Cash Flow (TTM)$34.5M
Stock Repurchases ()$0
Capital Return / FCF0.0%
Est. Dividends Paid (TTM)$0
Shows how management rewards shareholders

Operational Efficiency & Returns

Return on Invested CapitalTTM
-8.2%
Moderate
+0.5% YoY+24.2%
P25MedianP75
25th pctl (med: 0.0%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
-7.9%
8Q: -12.8%
Asset Turnover
0.77x
8Q: 0.75x
Leverage (1+D/E)
1.00x
D/E: 0.00x
DuPont: -6.1%-8.2% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
5.35x
8Q:5.23x
+59.3%
Invested Cap Turn
1.04x
8Q:0.98x
+23.5%
CapEx Intensity
6.5%
8Q:5.6%
CapEx/Depreciation
2.24x
Depreciation Rate Trend
⚠ Declining -4.0%
Asset-based ROIC formula

QUARTERLY TRENDS

Last 8 quarters + TTM

MetricTTMQ4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024
Revenue
$747.1M
$208.9M8.3%
$192.9M3.3%
$186.7M17.7%
$158.7M3.4%
$164.3M11.4%
$147.5M0.3%
$148.0M12.2%
$131.9M
Operating Income
$-57.4M
$2.3M127.1%
$-8.4M54.9%
$-18.7M42.5%
$-32.6M697.4%
$-4.1M91.9%
$-50.3M118.9%
$-23.0M39.7%
$-38.1M
Net Income
$-44.6M
$5.6M207.0%
$-5.2M63.3%
$-14.2M53.7%
$-30.7M2203.1%
$-1.3M97.1%
$-46.2M129.7%
$-20.1M56.0%
$-45.7M
Operating Cash Flow
$80.9M
$26.2M24.9%
$34.9M26.1%
$27.7M450.5%
$-7.9M141.0%
$19.2M21.0%
$24.3M105.6%
$11.8M122.8%
$-52.0M
Free Cash Flow
$34.5M
$14.5M27.7%
$20.1M16.0%
$17.3M199.9%
$-17.3M239.7%
$12.4M20.1%
$15.5M362.8%
$3.4M105.4%
$-61.8M
Total Equity
N/A

Valuation Analysis

Fair Value
Price-to-EarningsTTM
-127.7x
Volatile
8Q: -136.8x+34610%
Valuation Lenses
Earnings
-127.7x
vs sector
Cash Flow
152.6x
EV/FCF vs
Growth-Adj
PEG
N/A
Quality-Adj
P/E per %ROIC
ROIC: -8.2%
Shareholder Returns
Dividend
Buyback
Total Yield
Market Cap$5.68B
EV$5.27B
Multi-angle valuation analysis with sector context

Business Quality & Moat

Overall Quality Score
-36/100
Below Average

Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)

Returns on Capital

Return on Equity (ROE)Below Avg
-41.1%
8Q:
Return on Invested Capital (ROIC)Below Avg
-8.2%
8Q:
+24.2%

DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)

NOPAT Margin: -7.9%
Asset Turnover: 0.77x

Earnings Quality

Cash Conversion

-1.82x

OCF / Net Income

FCF Consistency

Positive quarters

Competitive Moat Indicators

Pricing Power

Gross Margin70.6%

Capital Efficiency

Invested Capital Turnover1.04x

Working Capital

Cash Conversion Cycle52 days

Growth Quality & Momentum

Moderate Growth
Growth Quality Score
70/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%

Growth Rates

Revenue Growth YoY
26.2%
OpInc Growth YoY
156.0%
EPS Growth YoY
61.8%
FCF 3Y CAGR
N/A

Margin Quality & Sustainability

Moderate
Profitability Cascade
Gross
70.6%
Operating
-7.7%
Below Avg in sector
Net
-6.0%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
FCF vs Net Gap
+10.6 pts
FCF: 4.6% | Net: -6.0%

Quality = stability + cash conversion + low dilution

Balance Sheet & Solvency

Fortress
Net Debt / EBITDA
Net Cash
(0.0x)Net Cash: $490.17M
Interest Coverage
+Net cash position: $490.17M
Leverage Metrics
Debt-to-Equity
0.00x
Balance sheet risk & solvency analysis