OSIS

MKT CAP:$5B

OSI Systems, Inc.

Market Cap

$5B

Technology·Hardware, Equipment & Parts·🇺🇸 United States·NASDAQ

Technology·Hardware,·🇺🇸·NASDAQ

Stock Price

$296.84+$41.26 (+16.14%)

Apr 21, 2026

Company Details

OSI Systems, Inc. designs and manufactures electronic systems and components worldwide. It operates in three segments: Security, Healthcare, and Optoelectronics and Manufacturing. The Security segment offers baggage and parcel inspection, c...

CEO

Ajay Mehra

IPO Date

Oct 2, 1997

Website

www.osi-systems.com

Key Metrics TTM

Revenue

$1.8B

+16.2% YoY

Net Income

$153M

EPS (Diluted)

$8.83

Free Cash Flow

$142M

Revenue / Share

$102.93

Gross Margin

33.0%

Operating Margin

12.3%

Net Margin

8.5%

FCF Margin

7.9%

P/S

2.7x

P/E

31.4x

Earnings Reports

Q3 2026

May 7, 2026

PENDING

Q2 2026

Jan 29, 2026

$464M+10.5%EPS $2.22

Q1 2026

Oct 30, 2025

$385M+11.8%EPS $1.18

FY 2025

Aug 25, 2025

$1.7B+11.3%EPS $8.71

Q4 2025

Aug 25, 2025

$505M+5.0%EPS $3.03

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$284M	$104M	$32M
Q4 21	$332M	$118M	$34M
Q1 22	$279M	$99M	$25M
Q2 22	$277M	$100M	$29M
Q3 22	$290M	$103M	$28M
Q4 22	$337M	$122M	$40M
Q1 23	$268M	$87M	$18M
Q2 23	$296M	$96M	$25M
Q3 23	$303M	$104M	$34M
Q4 24	$481M	$154M	$63M
Q1 25	$344M	$122M	$30M
Q2 25	$420M	$147M	$58M
Q3 25	$444M	$150M	$56M
Q4 25	$505M	$168M	$73M
Q1 26	$385M	$123M	$33M
Q2 26	$464M	$152M	$59M

Valuation

Quarter	P/S	P/E
Q3 21	4.4x	77.5x
Q4 21	4.2x	65.0x
Q1 22	4.1x	57.5x
Q2 22	4.1x	57.6x
Q3 22	4.1x	44.8x
Q4 22	4.1x	41.7x
Q1 23	4.1x	44.8x
Q2 23	4.0x	46.2x
Q3 23	4.0x	57.9x
Q4 24	3.6x	51.2x
Q1 25	3.4x	47.8x
Q2 25	3.1x	39.4x
Q3 25	2.8x	34.0x
Q4 25	2.8x	32.2x
Q1 26	2.7x	31.6x
Q2 26	2.7x	31.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	$42M	$36M
Q4 21	$8M	-$465.0K
Q1 22	-$11M	-$19M
Q2 22	$14M	$7M
Q3 22	$38M	$31M
Q4 22	$22M	$14M
Q1 23	$17M	$10M
Q2 23	-$9M	-$17M
Q3 23	$65M	$55M
Q4 24	-$29M	-$42M
Q1 25	-$37M	-$49M
Q2 25	$53M	$65M
Q3 25	$82M	$73M
Q4 25	$562.0K	-$10M
Q1 26	$17M	$6M
Q2 26	$62M	$74M

Capital Expenditures

Quarter	CapEx
Q3 21	$5M
Q4 21	$8M
Q1 22	$8M
Q2 22	$8M
Q3 22	$7M
Q4 22	$8M
Q1 23	$7M
Q2 23	$8M
Q3 23	$10M
Q4 24	$13M
Q1 25	$12M
Q2 25	$12M
Q3 25	$9M
Q4 25	$10M
Q1 26	$11M
Q2 26	$11M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	-3.1%	-6.7%
Q4 21	+19.9%	+17.7%
Q1 22	+9.6%	+6.9%
Q2 22	+0.2%	+1.6%
Q3 22	+2.4%	+4.3%
Q4 22	+1.4%	-0.4%
Q1 23	-4.0%	-1.9%
Q2 23	+6.8%	+9.1%
Q3 23	+4.3%	+2.5%
Q4 24	+42.8%	+40.6%
Q1 25	+28.3%	+25.6%
Q2 25	+42.0%	+34.0%
Q3 25	+46.7%	+44.5%
Q4 25	+5.0%	+3.3%
Q1 26	+11.8%	+12.1%
Q2 26	+10.5%	+12.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$8M	2.7%
Q4 21	$7M	2.2%
Q1 22	$7M	2.5%
Q2 22	$7M	2.5%
Q3 22	$7M	2.4%
Q4 22	$7M	2.1%
Q1 23	$7M	2.7%
Q2 23	$7M	2.4%
Q3 23	$7M	2.3%
Q4 24	$7M	1.5%
Q1 25	$6M	1.9%
Q2 25	$9M	2.0%
Q3 25	$8M	1.7%
Q4 25	$9M	1.9%
Q1 26	$6M	1.6%
Q2 26	$7M	1.5%

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q3 21	$14M	—	$58M
Q4 21	$14M	—	$68M
Q1 22	$15M	—	$57M
Q2 22	$15M	$55M	—
Q3 22	$15M	$59M	—
Q4 22	$15M	—	$66M
Q1 23	$15M	—	$53M
Q2 23	$14M	$56M	—
Q3 23	$15M	$54M	—
Q4 24	$16M	—	$71M
Q1 25	$18M	$72M	—
Q2 25	$18M	—	$71M
Q3 25	$19M	—	$73M
Q4 25	$19M	—	$75M
Q1 26	$20M	$67M	—
Q2 26	$20M	—	$70M

Revenue Segments

Quarter	Product	Service	Products	Services
Q3 21	$217M	$67M	—	—
Q4 21	$265M	$68M	—	—
Q1 22	$207M	$72M	—	—
Q2 22	$205M	$71M	—	—
Q3 22	—	—	$222M	$69M
Q4 22	—	—	$263M	$74M
Q1 23	—	—	$197M	$71M
Q2 23	$217M	$79M	—	—
Q3 23	$224M	$79M	—	—
Q1 25	$256M	$88M	—	—
Q2 25	$334M	$86M	—	—
Q3 25	$341M	$103M	—	—
Q4 25	$393M	$112M	—	—
Q1 26	$276M	$109M	—	—
Q2 26	$351M	$113M	—	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 22	$83M	$0	$83M
Q4 22	$64M	$0	$64M
Q1 23	$54M	$0	$54M
Q2 23	$46M	$0	$46M
Q3 23	$66M	$0	$66M
Q4 23	$77M	$0	$77M
Q1 24	$83M	$0	$83M
Q2 24	$127M	$0	$127M
Q3 24	$101M	$0	$101M
Q4 24	$95M	$0	$95M
Q1 25	$85M	$0	$85M
Q2 25	$102M	$0	$102M
Q3 25	$96M	$0	$96M
Q4 25	$106M	$0	$106M
Q1 26	$124M	$0	$124M
Q2 26	$337M	$0	$337M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	18M	+0.6%	-1.2%
Q4 21	18M	+0.9%	+0.8%
Q1 22	18M	-0.9%	-0.2%
Q2 22	18M	-1.1%	-0.5%
Q3 22	18M	-2.2%	-3.2%
Q4 22	17M	-1.8%	-5.9%
Q1 23	17M	-1.2%	-6.2%
Q2 23	17M	-0.4%	-5.5%
Q3 23	17M	+0.5%	-3.0%
Q4 24	18M	+1.9%	+0.7%
Q1 25	17M	-2.6%	-0.7%
Q2 25	17M	-0.1%	-0.4%
Q3 25	17M	+0.7%	-0.1%
Q4 25	17M	+1.5%	-0.5%
Q1 26	17M	+0.4%	+2.5%
Q2 26	17M	-0.0%	+2.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	$42.0K	7K
Q4 21	$49.0K	7K
Q1 22	$41.2K	7K
Q2 22	$40.8K	7K
Q3 22	$42.9K	7K
Q4 22	$53.5K	6K
Q1 23	$42.6K	6K
Q2 23	$46.9K	6K
Q3 23	$48.1K	6K
Q4 24	$72.0K	7K
Q1 25	$51.5K	7K
Q2 25	$62.8K	7K
Q3 25	$66.5K	7K
Q4 25	$68.8K	7K
Q1 26	$52.4K	7K
Q2 26	$63.2K	7K

Revenue / Employee