Is Masimo Stock Outperforming Its Rivals?
As of February 17, 2026, Masimo (MASI) stock has largely underperformed over the past year, posting a -0.04 market return. But how does its robust LTM revenue growth of 38.48% truly measure up against medical technology peers? A closer look reveals significant top-line expansion and moderate free cash flow generation, yet negative profitability (evidenced by a PE ratio of -16.58) and limited traditional valuation support.
- MASI’s 6.1% operating margin trails EW (27.5%), signaling less efficient cost control or intense pricing pressure in its medical tech markets.
- MASI’s 38.5% revenue growth (LTM) outpaces peers like MDT, indicating strong new product adoption or successful market share expansion.
- MASI’s stock is down 3.7% (1YR), underperforming peers with a PE of -16.6, reflecting investor concerns on profitability or legal challenges.
Here’s how Masimo stacks up across size, valuation, and profitability versus key peers.
| MASI | MDT | GEHC | EW | BAX | GRMN | |
|---|---|---|---|---|---|---|
| Market Cap ($ Bil) | 9.4 | 123.6 | 37.0 | 45.9 | 10.6 | 41.8 |
| Revenue ($ Bil) | 2.2 | 34.8 | 20.6 | 5.9 | 11.2 | 6.9 |
| PE Ratio | -16.6 | 25.9 | 17.7 | 33.6 | -11.1 | 26.6 |
| LTM Revenue Growth | 38.5% | 5.3% | 4.8% | 10.6% | 5.7% | 16.6% |
| LTM Operating Margin | 6.1% | 19.3% | 13.4% | 27.5% | 1.6% | 25.6% |
| LTM FCF Margin | 7.7% | 15.0% | 7.3% | 13.6% | 2.9% | 19.2% |
| 12M Market Return | -3.7% | 7.2% | -11.3% | 3.0% | -31.5% | 3.7% |
For more details on Masimo, read Buy or Sell MASI Stock. Below we compare MASI’s growth, margin, and valuation with peers across years
Revenue Growth Comparison
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| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| MASI | 38.5% | – | 2.3% | 0.6% | 64.3% |
| MDT | 5.3% | 3.6% | 3.6% | -1.4% | |
| GEHC | 4.8% | 4.8% | 0.6% | 6.6% | |
| EW | 10.6% | – | 8.6% | 12.2% | -14.7% |
| BAX | 5.7% | 5.7% | 2.7% | 3.0% | |
| GRMN | 16.6% | – | 20.4% | 7.6% | -2.5% |
Operating Margin Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| MASI | 6.1% | – | 1.8% | 8.0% | 10.3% |
| MDT | 19.3% | 19.5% | 17.1% | 18.7% | |
| GEHC | 13.4% | 13.4% | 13.3% | 12.5% | |
| EW | 27.5% | – | 27.2% | 29.7% | 34.5% |
| BAX | 1.6% | 1.6% | 4.1% | 6.8% | |
| GRMN | 25.6% | – | 25.3% | 20.9% | 21.1% |
PE Ratio Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| MASI | -16.6 | – | -22.7 | 107.1 | 43.8 |
| MDT | 25.9 | 26.5 | 28.9 | 29.2 | |
| GEHC | 17.7 | 17.9 | 17.9 | 22.4 | |
| EW | 33.6 | – | 12.2 | 32.0 | 31.0 |
| BAX | -11.1 | -10.2 | -22.9 | 7.4 | |
| GRMN | 26.6 | – | 27.6 | 30.6 | 25.4 |
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